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2022-03-31-accounts

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Annual Report and Financial Statements for the
period ended 31 March 2022
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ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2022

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Annual Report and Financial Statements for the period ended 31 March 2022

The Trustees are pleased to present their report together with the fi nancial statements of the charitable company (“the Charity”) for the period ended 31 March 2022

CONTENTS

  1. The Medical Institute in 2022

  2. Chair’s Report

Trustees’ Report

  1. Objectives, Strategies & Public Benefi t

  2. Activity, Achievements, and Impact review

  3. 13 Financial Review

In additi on to relieving pati ent suff ering, research is needed to help reduce the enormous economic and social burdens posed by chronic diseases such as osteoporosis, arthriti s, diabetes, Parkinson’s and Alzheimer’s diseases, cancer, heart disease, and stroke.

It is false to suggest that medical breakthroughs come only through government research.

Financial Statements

We look to medical research to discover remedial measures to insure bett er health and more happiness for mankind.

Company Registration number - 00705320

Registered Charity number - 200843

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Annual Report and Financial Statements for the period ended 31 March 2022

THE MEDICAL INSTITUTE IN 2022

63 years ago, in 1959, Colonel Sir George Wade initiated a campaign to raise £100,000 to establish a Post Graduate Medical Institute in Stoke-onTrent; we believe the fi rst of its kind in the country. His aim was a centre for Medical Education and Research available to all branches of the local medical community. Within three years he had raised the money; the Institute’s facility was built in 1964 and formally opened by Sir George Godber.

emergence of the Keele University Medical School, the Institute has potentially become less relevant to many of the doctors and students.

The Trustees though are trying to address these changes positively to ensure the Institute remains a vibrant and healthy Charity making a modern, positive, contribution to the North Staff ordshire Medical community.

It was soon an important part of the community, with its library, sponsoring of research, lectures and formal and informal meetings. It also became a meeting point for ‘medics’ to discuss various topics and problems. It had close links with the two hospitals, The Royal Infi rmary and City General, who supported it fi nancially for many years. It became a model, which would be followed around the country. It prospered for many years fulfi lling the aspirations of the founders.

With the amalgamation of the two hospitals and the move onto the old City General site, reforms in the health service, the changes to medical education, training and doctors’ working conditions, the Hospital funded Library being relocated to the new teaching building and the

The area originally occupied by the library, was converted into offi ce space for research groups from the hospital and now also houses the charity Disability Solutions. The School of Osteopathy operates within the building and is the only teaching facility for the School outside London. With these changes in place, the trustees have developed a strategic plan to increase the focus for funding and facilitating local research, both for the traditional smaller grants programme and, for more regular, larger, grants. The strategy has also led to a modernised governance structure; and continued development and promotion of the Hartshill conference facilities for use by the local medical community. Improving the ‘membership off er’ in an attempt to reinvigorate membership numbers and involvement is also taking place. Following a very generous donation from the Wade Family Charitable Trust, a major refurbishment for the Conference centre, with signifi cant upgrade to the Wade Hall Facility was completed in late 2019.

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Annual Report and Financial Statements for the period ended 31 March 2022

CHAIR’S REPORT

I am pleased to be able to give you my fi rst report as Chair having assumed the role at the November 2021 AGM. I am grateful to my predecessor, John Muir, for his wise and steadying hand particularly over the last couple of years during the Covid-19 pandemic. We are now entering a time full of potential as we open up fully again and we hope to reinvigorate the Institute.

Our longstanding manager, Jacqui Robinson, retired at the end of 2021 after many years of leading the Medical Institute with a fond farewell. We took the decision that to take NSMI forward the time was right to appoint a chief operating offi cer. I’m delighted to say that we appointed Jeanette Forrester who has a strong background in healthcare research as a manager at the University Hospitals of the North Midlands and Keele University. Jeanette commenced her post at the start of 2022 and now has a new and vibrant offi ce team to assist her.

One of our most important functions, and an exciting one, is to award healthcare research grants on an annual basis. The research awards committee under the chair of Professor Nick Forsyth met at the end of 2021 and recommended a total of six awards. These awards, totalling £128,675, were subsequently approved by the F&GP committee. For the fi rst time we awarded a one-year research fellowship which went to Dr Tina Dale for her project on ‘mucous profi ling of COPD patient-derived small airway models’. We awarded a wide range of projects, the other fi ve are summarised here:

On 4th May 2022 we held the research awards presentation evening which was well supported and tremendously successful. The event included presentations from most of the award recipient teams. In addition, we have continued our support for Keele Medical School in awarding to medical student prizes which were given out on the evening. Next year the focus will change in that the student awards will be for research projects and we hope that a bursary can be set up to support the students should they get the opportunity to present their work in regional or national conferences. This aspect was specifi cally boosted by a legacy from Angela Davies and family in memory of Alun Davis, retired anaesthetist from the Royal infi rmary and medical historian who passed away recently.

The long awaited 2020 Wade lecture, delayed by the pandemic more than once, was delivered on 24th March 2022 by Graham MacGregor, Professor of Cardiovascular Medicine at Queen Mary University London. His topic was “the silent killers, salt and sugar”. He didn’t hold back. He gave us a fascinating and insightful summary of what is known on the subject as a well-known expert. He was quite clear on the signifi cant benefi t of reducing dietary sodium and as a consequence reducing high blood pressure and the associated mortality and morbidity. He was equally clear regarding action on sugar and the role the society has on this.

The 52nd Wade lecture is returning to the usual slot of October and in 2022 this will be delivered by

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Annual Report and Financial Statements for the period ended 31 March 2022

CHAIR’S REPORT

Cliff ord Stott. He is a professor of social psychology who has gained an MBE for his world-leading work on crowd psychology. I invited Cliff ord to deliver the Wade lecture after hearing his fascinating work discussed on ‘The Life Scientifi c” on the BBC; only then realising that he was round the corner at Keele University. We are looking forward to the talk entitled “policing public assemblies in pandemics: crowds, protests and the future of democracy”.

One of the developments planned is to be a spring lecture each year which will be medically based with the aim of inviting a national or international expert. Professor Sir Martin Landray from Oxford University has agreed to give the inaugural spring lecture with a date yet to be fi nalised but likely to be in the second half of April. With his ground-breaking research in the RECOVERY trial during the Covid pandemic and longstanding track record it is likely to be a fascinating talk. We are planning a dinner after the event as we do with the Wade lecture.

Much of the following annual report concerns fi nancial matters and you are able to read these in detail. We are extremely fortunate to have Mark Barnish as our Honorary Treasurer who dedicates so much time and thoroughness to the role, he also has encompassed the role of Honorary Secretary. Mark, in conjunction with our Trustee Richard Farmiloe, have stayed in regular touch with our investment managers to help steer us through the turbulent times of both the pandemic and the Russian invasion of Ukraine with its widespread eff ects. You will see in the accounts that we remain in a healthy position but we do want to achieve our strategic aim of increasing our reserves to allow us to award more and larger research grants in the future. We are also working on a program to improve and update the condition of the conference centre and recently the IT facilities have been upgraded.

I am pleased to report that we have worked with our caterers Bentleys and a renewed contract is in place. The room bookings and usage is steadily increasing with the opportunity for organisations to book the catering as well. With the new offi ce team, we are able to coordinate all of this from the one place.

The roof has been replaced which was a major project in ensuring the quality of the conference centre. Our trustees, Peter Blood and Ian Cotterill, are to be thanked for their work in helping to oversee this project through to completion by our contractors Alsager roofi ng.

After many years as a member of Council and providing wise counsel Jeremy Wade stood down in April 2022. We are pleased to have Mary McMillan (Dr McCarthy) join us as an active Trustee. I’m pleased to report that we are seeing a steady increase in membership which is essential if we are to thrive. We are proposing a simplifi cation of the membership categories which includes a single paying category that is not only for those involved in healthcare but open to anyone who has a desire to support our Institute and medical and healthcare charity work. There is a second category for students for which there is no charge.

Finally, I would like to thank all those who have given the time and expertise in an honorary capacity over the last year. Without this input there would be no Medical Institute. I am optimistic as we move ahead into the next year.

Murray Brunt Chair.

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Annual Report and Financial Statements for the period ended 31 March 2022

OBJECTIVES AND STRATEGY

Charitable objects for public benefi t

Strategic Plan

When the charitable company was established in 1961, its memorandum set out a range of potential objectives which can be seen on inspection of the memorandum. The objects paragraph which has not been altered since then is set out below: -

“To promote and advance the study and general knowledge of science and medicine and all matters relating to the progress and development of all branches of medicine and surgery and for that purpose to establish, form, equip and maintain a medical library and laboratories with facilities for medical and scientifi c research, and buildings for postgraduate medical teaching.”

In its current operation the areas on which the Charity currently focuses are

The provision of library facilities is no longer practicable given the proliferation of on-line learning and the development of the Local University’s medical school.

All the charitable activities undertaken are specifi cally in compliance with the Charity’s powers as set out in the current Articles of Association which incorporates the original memorandum

During the fi nal months of the period under review the Trustees revisited the strategic plan which had been initially developed in 2018.

Despite the impact of government restrictions arising from the COVID 19 pandemic most of the initial action plan to support the strategies was completed. The review resulted in some minor alterations to four of the strategic objectives, the removal of the “reviewing and modernising the constitution and governance arrangements” objective, which had been achieved and the addition of a new objective to ensure suffi cient resources are on board to carry out the necessary actions now required to achieve the revised objectives. Documentating the detailed action plan to support these revised objectives was completed in July 2022.The vision and Mission remained unaltered following this review

Our Vision

To be recognised as a leading local charity and vital contributor to the improvement of community health and education, by facilitating medical research through a unique grants programme achieved from sustainable funding.

Our Mission

We will be an increasingly vibrant and sustainable provider of quality medical and scientifi c research grants. We will promote our continuing success to both the local and wider community in order to create new partnerships which will leverage additional income in order to increase and expand our future grants programme. The Institute’s Conference Centre facility will be run as a cost eff ective educational and networking resource for the community.

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Annual Report and Financial Statements for the period ended 31 March 2022

OBJECTIVES AND STRATEGY

Our Strategic Objectives

The revised strategic objectives, which are set out in the plan are:

Public Benefi t

The Trustees confi rm that they have complied with the duty in Section 4 of the Charities Act 2011 by referring to the guidance contained in the Charity Commission general guidance on public benefi t when reviewing the charity’s aims and objectives and the planning of future activities. The impact the strategies have had which demonstrate this are set out in the section which follows.

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Annual Report and Financial Statements for the period ended 31 March 2022

ACTIVITY, ACHIEVEMENTS, AND IMPACT REVIEW

The North Staff ordshire Medical Institute continues to provide an important research grants programme to the North Staff ordshire medical community. This enables an on-going local research capability and a valuable contribution to push medical boundaries, with both local and wider benefi ts. During the year in review, notwithstanding the Covid 19 Pandemic, the Institute has continued to fund its committed grants programme. it has not been able to pursue many of the external actions set out in the Strategic plan’ due to the impact of government’s restrictions on operating the conference centre and on ‘normal life’ generally. The planned actions around the governance objectives have now all been completed.

This section of our report highlights some of our key achievements in the period and the impact this has had, though, as mentioned, these have been signifi cantly restricted.

Our desired impact

In pursuing the strategies outlined earlier The North Staff ordshire Medical Institute is aiming for the following impact as a Charity:-

Our principal activities to achieve this

During the review period the Institute has been involved in the following activities to achieve its impact goals: -

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Annual Report and Financial Statements for the period ended 31 March 2022

DEMONSTRATING OUR IMPACT

Many of the attributes of the desired impact are demonstrated by reference to the work carried out through the research awards granted. Set out below are details of the awards made during the period and what they aim to achieve. Due to the continued closure of most research facilities over much of the last year, most projects were on temporary hold. Similarly other planned initiatives and activities have largely had to be halted in this period.

The impact of our work to promote the Institute and the conference facilities has also been reduced due to the pandemic. But an increased focus on marketing the Hartshill facilities since September 2021 has enabled momentum in this area.

Continued funding for research project grants awarded

In the year to 31 March 2022 a total of £69,152 was awarded to fi ve projects These, and the successful applicants are shown below:

Project and applicants Amount
awarded
£
A prediction tool to predict
prostate cancer aggressiveness.Eric
Onwuharine and Dr Alex Clark
User evaluation of a home-
monitoring kit for patients with
diabetes.		 8,000
11,189
Dr K Ford and Dr C Duf
Analysis of Lung microbiome in
children with bronchitis 9,978
Dr. F J Gilchrist and Dr. M J Fox

Investigation of MHC Class II 20,000 accessory molecule CD74 in Ovarian Cancer. Kwong, S Hart, and Prof M Brunt Injectible Void-forming Cell-laden 19,985 Hydrogel for Articular Cartilage Repair. Dr Pooya Davoodi and Prof Martin Snow

In addition to the individual project awards the Charity, for the fi rst time in its history, expanded the awards programme to fi ll what has been a gap in the local research community funding, by inviting applications to fund a fellowship, which provides the fi nancial resources to employ an individual to work exclusively on a project as a research fellow. The successful project was

Project and applicants Amount
awarded
£
Mucous prof ling of COPD patient-
derived small airway models 59,523
Dr Tina Dale, N. Forsyth and M Haris

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Annual Report and Financial Statements for the period ended 31 March 2022

DEMONSTRATING OUR IMPACT

Due to the interruptions caused by Covid, most research projects which had been commenced have largely had to be mothballed and so it is not feasible to fully report for this period, on their impact or advancement. None of the previously commenced projects have been completed during this period, and the projects awarded funding in 2020-21 had not commenced

Some relaxation of the COVID restrictions did allow some limited progress to be made and a total of £82,121 was advanced across several of the projects which breaks down as follows: -

Advancement Impact of previously commenced or completed research projects, awarded in prior period

Amount Project and applicants awarded £

Anniversary Award 14,933 Prof. M. Mamas, Prof. U. Kadam, Prof. K. Jordon, Dr M. Sperrin, Dr E Kontopantelis, Prof. I Buchan.

Major bleeding complications following acute myocaridal infarction, site, frequency & impact: insight from a national & primary care perspective.

Anniversary Award Dr N Forsyth, Prof. M Spiteri, Dr. M. Haris, 32,571 Prof. A El Hag, Dr Y Yang.

A tissue engineering approach to improve lung function & clinical outcome in patients with emphysema

Prof S Davies Renal research to support Dr Elphick in the 8,987 completion of her Masters course in Epidemiology and the sponsorship of a PhD studentship for a research methodologist.

Keele University Medical School 26,630 Aspire programmes

We are awaiting reports on the funded projects as they approach completion.

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Annual Report and Financial Statements for the period ended 31 March 2022

DEMONSTRATING OUR IMPACT

The Aspire project is a rolling programme and we have received feedback in year in respect of the programme which gives an indication of the ongoing impact being achieved

The intercalated Degree Co-Ordinator, Professor Divya Maitreyi Chari writes

“ASPIRE has had a transformative eff ect in the introduction of a robust research program for our students at the medical school. The program has grown from small beginnings. The success of ASPIRE has meant that we have been able to raise funds from other sources, most notably from the North Staff ordshire Medical Institute to support our research activities for medical students, for which we are immensely grateful It has allowed us to grow, expand and sustain the programme. This has meant that we have been able to fund over about 90 projects so far in clinical and lab-based areas, medical education and global health including international projects in Brazil. Recently we have been able to set up an international partnership with the Royal College of Surgeons Ireland, Bahrain medical school where students are able to undertake research projects with Keele academic staff under the auspices of the Keele Medicine research program. We, at Keele, are also now integrated into the national INSPIRE research placement scheme. The industry scheme is another valuable addition to the program. We hope that in the future we will have a sustainable and exciting research programme, where students can undertake research projects in diverse areas, including with international research partners. In particular, I hope we will be able to develop an MD/PhD style of programme for a few of our talented students.”

The case study of one Student Will Woods is a great example of this. These are his words:

“The ASPIRE scheme facilitated my introduction into academia and has subsequently helped shape my passions, motivations, and future career choices. After developing an interest in neuroscience beyond the scope of my undergraduate medical degree, I was curious to seek out related opportunities. I was fortunate enough to be funded by the medical school’s ASPIRE scheme

to complete a short summer studentship investigating the feasibility of using the chick embryo as a traumatic spinal cord injury model.

As well as developing laboratory skills such as cryosectioning and immunostaining, the supportive environment encouraged my scientifi c creativity and provided an insight into life as a clinical academic. The success of this project lead onto my fi rst experiences of presenting where I was awarded fi rst poster prize at the Keele ASPIRE research conference in 2019.

The fantastic mentoring and opportunities I received through the scheme were instrumental in my decision to pursue my passion further by undertaking an intercalated neuroscience MPhil, for which I received bursary funding from the North Staff ordshire Medical Institute. I returned to work with the team I completed my ASPIRE project with to develop a neural cell spray for the treatment of traumatic neurological injuries. The skills I had previously learnt were invaluable and allowed me to concentrate on more advanced cell culturing techniques. Furthermore, previous experiences of academic writing from my ASPIRE project were invaluable in generating two publications for peerreviewed journals of which I am fi rst author. Additionally, I gained further experiences of presenting at multiple national conferences and was awarded the second place oral/poster prize at the Southwest Undergraduate Neurology and Neurosurgery conference 2021.

My ambition is to become an academic neurologist and believe my successes and subsequent application to the academic foundation program have stemmed from experiences provided to me by ASPIRE. I was recently off ered my fi rst choice of academic foundation programmes to study neurodegenerative diseases at a world leading centre. It is my belief that the research experience gained throughout medical school, and which facilitated this job off er, have stemmed from the ASPIRE scheme. I am grateful to the medical school and the generous funders who have made this possible

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Annual Report and Financial Statements for the period ended 31 March 2022

DEMONSTRATING OUR IMPACT

Promoting the Institute’s activities more widely, informing and networking our members and promoting brand awareness of our conference facilities.

Wade Lecture

Awards evening

Due to COVID uncertainty the Institute was not able to host the 51st annual Wade lecture in October 2021, the normal timing on the annual events calendar, but did so on the 24th March 2022 instead. The desired impact of this event is to attract and provide a networking opportunity to promote the Charities work and provide an insightful and educational opportunity for the local medical community. This will hopefully increase the pool of potential future Trustees and researchers.

Historically the Institute has formally announced the recipients of its annual grant awards and the winner of its two student prizes at an awards event following the AGM. Due to COVID restrictions and uncertainties the events for 2020 and 2021 could not be held. Fortunately, the postponed awards evening from November 2021 was held on 4th May 2022. This was a new format with each of the recipients giving a summary of what their upcoming research projects were about and what they hope to achieve.

The lecture entitled “The silent Killers” was given by Graham MacGregor who is a professor of Cardiovascular Medicine at the Wolfson Institute of Preventive Medicine Queen Mary University of London. He is also Chairman of: “Consensus Action on Salt and Health” (CASH), “World Action on Salt and Health” (WASH) & “Action on Sugar” & “Blood Pressure U.K.” Professor MacGregor has campaigned over many years, and with worthwhile eff ect, to reduce the amounts of sugar and salt in processed foods. The lecture proved a fascinating insight into this area and was well attended with an increase in the number of local students in the audience.

The evening was well attended and in the refl ections of our Chair “The diversity of studies and professional specialities together with the quality was very positive. The strength of Keele University and UHNM, and their collaboration for many of the awards was good to see”. The increased attendance demonstrated a new interest in the Institute’s activities and generated at least one lead for a potential future Trustee.

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Annual Report and Financial Statements for the period ended 31 March 2022

DEMONSTRATING OUR IMPACT

Midlands Medicine

Our informative journal, continued to be published and circulated to members with its mixture of news, reviews, articles and other medical memorabilia, and images though, due to the restrictions, the number of editions continued to be temporarily reduced from three to one,

New initiatives

Following the appointment of a new chief operating offi cer, Jeanette Forrester, plans are being drawn up for a number of new initiatives to promote the Institute, including initial improvements to the website and a more fundamental makeover in the pipeline. Additionally, she has joined a number of networking forums which has already begun to improve local exposure.

Expanding the conference venue usage, upgrading facilities, providing members access to the Hartshill facilities and using them to help support the local community

The refurb of the conference facilities at the Hartshill premises, renamed as the Wade Conference Centre, , has created a state-of-theart facility which can help achieve the impact of attracting further membership participation with additional planned events as well as attracting new conference business.

Although , the pandemic dramatically slowed that momentum and marketing eff orts following the launch in 2019.

As life did start to return to a little more normality, until later in 2021 we appointed a new conference co-ordinator to improve the marketing focus with specifi c resources provided by our catering partner Bentleys. In the latter stages of fi nancial period ended 31 March 2022, this has enabled us to make an excellent start towards gaining the increased volume impact we are aiming for.

The Institute’s facilities continue to be used by the local community in particular the local Residents Association and the Retirement Fellowship Group and we have continued to work with John Salmon

from Hartshill and Harpfi elds Association including off ering the Car Park for them to use over the Jubilee Period (albeit, unfortunately the event didn’t go ahead though).

Implementing a strategy for the future

The formulation of a strategic plan, which was fi nalised and approved in the fi nancial year ended 5 April 2019, was a key step in trying to enable the charity to deliver on its strategic objectives. It remains critical to enabling the Institute to continue to make the desired impacts already outlined. The COVID pandemic has unfortunately meant a number of initiatives which had been started have had to be halted meaning the desired impacts will be delayed.

Trustees did though invest time in 2021/22 in completing the remaining action plans around, revised governance structure

A revised set of Articles of Association were previously approved at the AGM held in November 2020 and by December 2021 the board had completed the remaining action plans relating to the revised governance structure.

The impact of this is that we now have a modern set of Articles a simplifi ed membership and board structure, a succession plan and enhanced board composition. This will ensure the charity is able to face up better to the sustainability challenges it faces.

The formal fundraising strategy to enable an expansion of the current grants programme which was agreed in late 2019 has been diffi cult to progress further due to the restrictions enforced during the pandemic. This will be addressed as a priority during the second half of the fi nancial year ending 31 March 2022.

As outlined earlier in February 2022 the Trustees have revisited the Strategic plan and refreshed the objectives and since the year end have fi nalised a new set of action plans to deliver the strategic objectives. Certain actions are already underway led by the new COO (including a comprehensive cost review which has already identifi ed a number of savings) and the reorganisation and recruitment of new support team members.

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Annual Report and Financial Statements for the period ended 31 March 2022

FINANCIAL REVIEW

Income

Income from donations and legacies for 2021/2 was higher than the previous year at £45.2k (2020/1: £21.9k). This was due to a restart grant from government, to help with the resumption of conference and meeting activities. In addition, was received a donation of £25k from a local charitable foundation, to support our research awards programme, (government grants being the sole income for this category in 2021).

Following increased relaxation of the pandemic restrictions, income from conferences and room hire increased from £6.0k, in 2020/21 to £34.9k, which was in line with previous periods full year equivalent. Income from tenants, disclosed as “rentals from investment property”, and other income was broadly unchanged from the prior year.

Investment Income and gains/(losses) on the investment portfolio

Our investment income for the year increased to 67.8k (2021/2 £62.4 k) this was in line with the targeted returns set out in the charity’s investment policy which had been upgraded following the appointment of Smith & Williamson ( now Evelyn Partners) from 5 April 2019. This was due to a better-than-expected recovery in dividend returns following the initial sharp decline in the early stages of the pandemic

The initial impact of COVID 19 and the UK’s fi rst lockdown caused the market value of our investment portfolio plunge from £2.635 million, to £2.267million, which, with investment cash movements, led to an unrealised loss of £380.3k being recorded in 2020. In 2021 the market recovery led to a reversal of that with gains totalling £610.9k. 2021/2 was on track for further signifi cant gains but these were reduced signifi cantly following the outbreak of war in Ukraine and for year ended 31 March 2022 total gains were £189k. This means over a three-year period the portfolio has increased by £410.k which represents in excess of 5% growth per annum.

Unfortunately, since the year end the markets have continued to suff er being weighed down by the ongoing war and various worldwide economic concerns which relate to this

Lease Income

Space is let within the building, under lease, to two separate tenants.

One lease was for a period of 5 years which expired in April 2022. This lease is in the process of being renewed on similar terms but with additional space.

The second lease is for a period of 10 years expiring 2023.

Expenditure

The Research Awards Sub-Committee meets annually with the aim of providing start up grants of a pump priming nature especially for young researchers. As part of our ongoing funding and strategic review, we continually reassess the funding and value of grants that we are able to award in order to encourage researchers in North Staff ordshire.

The committee met in December 2021 and fi ve further award commitments were made totalling £69.2 k. In 202/21 £78k of grants were awarded under the under the annual programme together with a repurposed award of £79k to the Keele School of Medicine, under the Aspire programme which had been written back in 2019/20 as they had time lapsed. In the prior year a total of £65.1K of unused grants were written back and the funds released were used to approve and fund a new Fellowship award of £59.5k Additionally, the Charity cash funded £82.1k of grants in 2021/22 (2020/21:£69.3K) from its prior award commitment programme.Full details of the grants awarded and paid are set out on page 8 and in the notes to the fi nancial statements. The statement of fi nancial activities (”SOFA”) shows an overall charge of £128.7k (2019/20 £91.6k),within Charitable Activities,.

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Annual Report and Financial Statements for the period ended 31 March 2022

FINANCIAL REVIEW

This fi nancial period saw an increase in costs within the classifi cation of Cost of Raising Funds, which increased by £86.4k to £274.2k (2020/21 £187.8k.) This was mainly due to the reopening the Hartshill premises and the running costs associated with that. In September additional resource was recruited following staff vacancies created during the pandemic being fi lled.

In Dec 2021 the long serving conference centre manager left and was replaced with a new Chief operating offi cer (“COO”) from 1 Jan. These changes led to an increase in salaries in the year compared to 2020/21 of £38k

Overall result

The impact of the movements described has been to generate a small overall defi cit for the year of £1k (2020/21 surplus of £479.1k). This was largely due to investment gains off set by the grants programme and an operational defi cit.

The other key asset held by the Institute is the building, which is shown on the balance sheet under “the Land and Buildings Fund” (formerly described as the Nadin Fund, so named as this held the monies at the time of the original appeals used to fund the buildings). The building has been depreciated at a rate per annum of 2% for fabric, 4 % for roof, 4% for windows and 10%, for fi xtures and fi ttings.

In the opinion of the Trustees, the Institute’s assets . are suffi cient to fulfi l the obligations of the Charity

Reserves Policy

Funds

Total funds as of 31 March 2022 were £3.547m (2020/21 £3.548m). Of these £2.067m (2020/21: £1.967m) were unrestricted. From these unrestricted funds a total of £1.956m has been designated (2020/21: £ 1.857m), leaving £0.111m of free general reserves (2020/21: £0.110m).

Local Resource

The Medical Institute is available for hire and is often used by community groups. It is accessible to them through its off ering of public lectures and the accommodation to local groups. These activities have been signifi cantly curtailed due to the government restrictions during the pandemic but gradually started to resume as restrictions were relaxed.

Institute Assets

The Institute holds assets in the form of investments (managed by Evelyn Partners-formerly Smith and Williamson-).

These assets are shown at current market value rather than original purchase price. They are held to fund Institute activities in support of medical education and research and to ensure the sustainability of the Wade conference centre activities, through the income and capital growth derived from these investments.

It is the Institute’s policy to keep the reserves of the charity under review and ensure the policy for holding reserves remains relevant and up to date.

In carrying out this review the Trustees fi rst identify any restricted funds and ensure they are appropriately separated and disclosed. They then examine the nature of the general funds to determine whether it is appropriate to make designations to allocate funds for known specifi c purposes.

Trustees have tried to focus on ensuring reasonable estimates of the future needs of the Charity and the reasons funds will be required.

Maintenance Fund

Represents the value of unrestricted funds that Trustees estimate will be needed, over a reasonable cycle, to maintain the fabric of the freehold land and buildings and suitably preserve their condition so that they remain fi t for purpose. This was previously part of the Nadin Fund.

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Annual Report and Financial Statements for the period ended 31 March 2022

FINANCIAL REVIEW

Land & Buildings Fund

Represents the value of unrestricted funds that are held as freehold land and buildings, and which will continue to have future use within the Charity to carry out its objectives. This was previously the remaining part of the Nadin Fund which has now been ‘topped up’ from general reserves, in order to refl ect the book carrying value of the relevant assets.

Income generation Fund

Represents the value of unrestricted funds which, due to the Charity’s activities not being geared to generate a regular net income stream, will allow the Institute to provide enough investment income and gains from the capital, to fund an on-going, credible, annual general research grants programme and contribute to any shortfalls in building running costs not met by room hire and sublet income. This was previously, in part, covered by the Glover and Gallimore Fund and has been topped up from general reserves to ensure the designation is enough to meet its purpose

General reserves

It is the Institute’s policy to hold general reserves equivalent to what might be required to cover any substantial short-to-medium-term loss of income from the sub-letting and room hire activities. The target set is 1 to 1½ years of this ‘normal’ income stream. For 2022/3 the target is between £105,000 and £173,000. Actual general reserves at 31 March 2022 stood at £110,602 and, as such, are just above the lower end of that target band. The trustees continue to review their strategy and aim through new initiatives to increase reserves to within the target band.

managed on a day-to-day basis, from 6 April 2019, by Evelyn Partners, who have discretion over investments with the responsibility of maximising income while maintaining and increasing capital value using investments of medium risk. We hold regular meetings with Evelyn Partners to review our investment policy and the performance of our investment portfolio

Grant Making Policy

The North Staff ordshire Medical Institute charity has an annual programme to consider new research proposals, usually for funding of up to £20,000 per project. All local health care professionals are eligible to apply. Applications for funding of research proposals require the completion of specifi c application forms. From time-to-time larger grants may become available at the discretion of the trustees and subject to there being adequate funds available to maintain the overall reserves levels adequately, in line with the investment policy. All projects are considered by The Research Awards Committee and are peer reviewed. All projects must be deemed to lead to or be for the benefi t (directly or indirectly) of the citizens of North Staff ordshire.

For 2021/22 for the fi rst time in its history, Council approved the promoting and awarding of a fellowship grant which would cover the costs of a engaging a fellow to carry out a specifi c research project. Following this promotion an award was made in the December 2021 round. The success of this will be reviewed to assess whether further such awards may be given in the future.

Investment Policy

All investments have been acquired in accordance with the powers contained in the governing instrument of the Charity. The Institute is governed by the Trustees Act 2000 with its investments

15

Annual Report and Financial Statements for the period ended 31 March 2022

ORGANISATION AND CONTROL

Directors and Trustees and legal status of the charity

The Directors of the Charity are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.

The trustees serving during the year and since the year end are listed in the legal and administrative information on page 45.

The Charity is a company limited by guarantee, not having share capital. It is known as The North Staff ordshire Medical Institute Limited as set out in its Memorandum and Articles of Association, signed at incorporation on the 10th of August 1961 and updated by special resolutions on 21st September 1989, 16th October 2014 and the 12 November 2020

Council Composition

The Council of Management (“Council”), which is the collective name used for the Trustee governing body, keeps its composition under review. As part of that ongoing review process, during 2020 a number of further amendments to its byelaws, including principally composition of council and widening of the defi nitions of eligibility for membership were proposed and approved for adoption by Council.

The revisions were tabled for scrutiny by the members at the 2020 AGM and ensure the byelaws are current and in line with the changes made to the articles at that time.

The amendments to the articles were set out in a detailed schedule which also contained the rationale. Members can obtain a copy of these and the updated byelaws from the administrative offi ce.

None of the changes required the approval of the Charity Commission.

The Council of the North Staff ordshire Medical Institute comprise the President, Chair, Deputy Chair, Honorary Treasurer, and ordinary members up to a total maximum number of thirty-six.

Details of the current Council members are set out on page 45 of this annual report and fi nancial statements

Recruitment and appointment of new trustees

As part of the overall governance review carried out during 2019 and 2020 it was recognised that there was no formal succession plan in place nor a procedure for the recruitment of future new trustees, nor indeed honorary offi cer posts. The board have now put together a new succession plan and identifi ed methods for future Trustee recruitment as well as setting out terms of offi ce, more clearly in the byelaws.

On-going consideration is given to length of service, professional backgrounds and areas of expertise to also try and obtain an appropriate balance of experience. This includes appointing members from outside the medical profession where such expertise is required (e.g., legal, property, fi nance).

The establishment of the succession plan led to a number of longer serving Trustees stepping down and new Trustees being appointed. This has helped to bolster the number of medical professionals now serving on the board.

All suitable candidates for Council are formally nominated and discussed for suitability within the various committees and at Council, before individuals are approached.

The changes were to align the articles with current companies act legislation, refl ect a simplifi ed eligibility criteria for membership and a more fl exible composition for the Council.

16

Annual Report and Financial Statements for the period ended 31 March 2022

ORGANISATION AND CONTROL

Organisational structure

The current Structure: eff ective from July 2019

The Honorary Treasurers term is for three years, this can be renewed by Council for further threeyear terms up to a maximum of three terms. All other Trustees are appointed with a maximum term of 12 years.

Frequency of meetings and key governance sub-committees

Council meets a minimum of three times in each fi nancial year.

Appointment Terms and Trustee Rotation

The President will be appointed by a special resolution of Council and will hold offi ce for a period to be determined by Council.

The Chair of the Council shall be elected by the Council. This appointment must be ratifi ed at the next Annual General Meeting.

The Honorary Treasurer shall be appointed by the Council and this appointment must be ratifi ed at the next Annual General Meeting of members.

• The Finance and General Purposes Committee (“F&GP”) is a key governance sub-committee of the Council. Its primary function is to advise Council on the day-to-day management of the Institute, its activities and the related fi nancing thereof. It has the powers where necessary to take delegated executive action. The Committee meets as a minimum every quarter with additional meetings, should the need arise. Membership of the Committee currently comprises the four honorary offi cers together with four other members.

• The Research Awards Sub-Committee is also key and is a sub-committee of the F&GP Committee. Its function is to consider all applications for grants, for research or educational purposes and to make recommendations to the F&GP Committee. It has powers of co-option for special items and may refer submissions to outside experts for further specialist opinion.

Under Article 21.1 of the Charity’s Articles of Association one third of the members of the Council (or if the number is not a multiple of three then the number nearest to one third) shall retire from offi ce in rotation each year.

Eff ective from the adoption of the revised byelaws in September 2020, the Chair’s term of offi ce as Chair, is by individual agreement up to a maximum term of 5 years,

17

Annual Report and Financial Statements for the period ended 31 March 2022

ORGANISATION AND CONTROL

Trustee Induction and Training

On joining the North Staff ordshire Medical Institute Trustees are off ered a half day induction session at the Institute’s Offi ces in Hartshill, Stoke-on-Trent, at which they are presented with an induction pack containing committee structures, Articles of Association, Byelaws, Trustees’ Report & Financial Statements, a copy of the strategic plan and Charity Commission key guidance publications.

Management

The Trustees’ form the key management of the Charity. No Trustees receive remuneration. Trustee’s policy allows the reimbursement of expenses.

Risk Management

By focusing on these risks and identifying mitigating actions the Trustees remain confi dent that they are adequately managing these key risks

COVID 19 Pandemic

Towards the end of the 2019/20 fi nancial year the impact of the global pandemic was becoming evident, and a lockdown of UK movements and the economy ensued. The Trustees continued to meet to monitor this impact and commissioned a specifi c risk assessment of safe operation of the Hartshill premises to enable, where possible, in accordance with government guidelines.

Trustees have supported the necessary investment to enable operations in a more limited capacity in accordance with government guidelines during periods when the lockdown restrictions were eased.

The Trustees have examined the major strategic business and operational risks which the Charity faces and confi rm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.

Key risks identifi ed are: -

Mitigating actions have been identifi ed and those supporting the key risks are monitored at F&GP committee and Council meetings, as well as ensuring any new risks are identifi ed should they arise.

The economic impact on revenues has largely been off set by cost savings such that there has been no large operational drain on reserves. Trustees are kept this under close review during the 2021/22 fi nancial period in operational mode at least initially. As we have now emerged from the pandemic Council believe the need for a separate risk plan is no longer neccessary.

While the initial market impact on investment values was signifi cant as can be seen for the 2019/20 fi nancial results, during 2020/21 and the current period these investment falls were reversed and signifi cant additional gains achieved

The COVID 19 issues have though now been replaced with the uncertainties of the Russian invasion of Ukraine and the resulting world economic uncertainty with oil and cost of living crises, high infl ation, and low growth prospects. The Trustees believe though that their continued scrutiny and risk management actions and a capable investment manager will continue to minimise the impact and, given its strong balance sheet the Charity is not in any immediate danger.

18

Annual Report and Financial Statements for the period ended 31 March 2022

ORGANISATION AND CONTROL

Governance and Financial Control

The Medical Institute continues to pursue high standards of governance based on the Good Governance code for the Voluntary and Community sector. Where applicable this guidance is considered in managing the aff airs of the Institute.

Through the operation of the Finance & General Purposes Committee the Council keep key fi nancial information under review together with reports from the charity’s investment managers, Evelyn Partners, and its Auditors. This committee also keeps the internal fi nancial controls under review and ensures key risk areas are addressed. It also monitors the performance of professional advisors including the investment managers and external auditors.

19

Annual Report and Financial Statements for the period ended 31 March 2022

PLANS FOR THE FUTURE

Following a review of the Strategic plan and the adjustments made to the strategic objectives, the development of updated the action plans to deliver the strategies set out on page 5 is being prioritised and will form the main thrust of the Medical Institute’s plans.

The ‘membership off er’ is currently under review and in, particular there will be an expanded number of membership events to improve networking, sharing of research topics and the provision of interesting educational content.

Now that life is returning to near normality it is planned to proactively push and market the rebranded Wade Conference Centre and drive up the activity and usage. This will include re vamping the Website, greater networking development of a proper marketing plan.

The search for new connections and partnerships, a broadening of outlook and reach and it is planned to explore how old ties to the now named University Hospitals North Midlands (“UHNM”), can be renewed.

A comprehensive review of current contracts which commenced in 2021/22 will continue with a view to making reductions in operating costs.

create and deliver a fundraising strategy. The aim of this will be to add to reserves and enable an expansion of the existing grants programme.

Statement as to disclosure of information to Auditors

The Directors who were in offi ce on the date of approval of these fi nancial statements have confi rmed that, as far as they are aware, there is no relevant audit information of which the auditors are unaware. Each of the directors has confi rmed that they have taken all steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that it has been communicated to the auditor.

Auditors

A resolution for the reappointment of Geens Limited, as auditors of the charity is to be proposed at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies’ exemption.

Signed on behalf of the Council

The 10-year maintenance plan has been reviewed and a further investment in building improvements will be commenced.

A number of capital projects have been identifi ed which are focused on improving the energy effi ciency of the conference centre, and it is hoped to start on these in the fi nancial year ending 31 March 2023

Bryan Carnes M.B.E.

President 5th September 2022

In addition to our focus on implementing a marketing plan to improve our conference and room hire income we are committed to start to

20

Annual Report and Financial Statements for the period ended 31 March 2022

TRUSTEES’ RESPONSIBILITIES STATEMENT

The Trustees (who are also directors of The North Staff ordshire Medical Institute Limited for the purposes of company law) are responsible for preparing the Trustees’ Report and the fi nancial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare fi nancial statements for each fi nancial year which give a true and fair value of the state of aff airs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

In preparing these fi nancial statements the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the fi nancial position of the charitable company and to enable them to ensure that the fi nancial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

21

Annual Report and Financial Statements for the period ended 31 March 2022

STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted Restricted Endowed Total Total
Note
funds funds funds 2022 2021
£ £ £ £ £
INCOME FROM:
Donations and legacies 4 19,164 26,000 - 45,164 21,856
Other trading activities:
Rentals from room hire 34,878 - - 34,878 6,033
Investments:
Rentals from investment property 38,064 - - 38,064 38,063
Income from investments 5 67,789 - - 67,789 62,372
Other income 6 36,250 - - 36,250 34,662
_ _ _ _ _
TOTAL 196,145 26,000 - 222,145 162,986
_ _ _ _ _
EXPENDITURE ON:
Raising funds 7 274,247 - - 274,247 187,759
Charitable activities 8 9,180 128,675 - 137,855 107,163
_ _ _ _ _
TOTAL 283,427 128,675 - 412,102 294,922
_ _ _ _ _
NET INCOME/(EXPENDITURE) (87,282) (102,675) - (189,957) (131,936)
_ _ _ _ _
Net gains/(losses) on investments:
- unrealised 133,694 - - 133,694 545,156
- realised 55,282 - - 55,282 65,833
_ _ _ _ _
TOTAL NET GAINS/(LOSSES) ON
INVESTMENTS		 13 188,976 - - 188,976 610,989
Transfer between funds (1,570) 1,570 - - -
_ _ _ _ _
NET MOVEMENT IN FUNDS 100,124 (101,105) - **(981) ** 479,053
_
_ _ _ _
RECONCILIATION OF FUNDS:
Total funds brought forward 17 1,966,838 1,524,072 56,835 3,547,745 3,068,692
_ _ _ _ _
TOTAL FUNDS CARRIED FORWARD 17 2,066,962 1,422,967 56,835 3,546,764 3,547,745

Incoming resources and resources expended all derive from continuing activities.

22

Annual Report and Financial Statements for the period ended 31 March 2022

BALANCE SHEET

BALANCE SHEET
Note 2022 2021
£ £ £ £
FIXED ASSETS
Tangible fixed assets 12 844,044 752,247
Investments 13 2,778,286 2,979,922
3,622,330 3,732,169
CURRENT ASSETS
Debtors 14 39,038 63,016
Cash at bank and in hand 290,089 98,223
329,127 161,239
LIABILITIES
Creditors: Amounts falling due
within one year		 15 (244,693) (185,663)
NET CURRENT
ASSETS/(LIABILITIES)		 84,434 (24,424)
TOTAL ASSETS LESS CURRENT
LIABILITIES		 3,706,764 3,707,745
Creditors: Amounts falling due
after more than one year		 16 (160,000) (160,000)
NET ASSETS 3,546,764 3,547,745

23

Annual Report and Financial Statements for the period ended 31 March 2022

BALANCE SHEET (CONTINUED)

Note 2022 2021
£ £ £ £
FUNDS OF THE CHARITY 17
Unrestricted funds
General Fund 110,602 109,740
Designated funds
Building Maintenance Fund 173,529 210,497
Land and Buildings Fund 1,031,151 942,897
Income Generation Fund 751,680 703,704
2,066,962 1,966,838
Restricted funds
Research Fund 793,583 897,258
Kidney Fund 613,931 613,931
Section of General Practice 11,353 11,353
Section of Psychiatry 1,530 1,530
Alan Davies Fund ~~2,570~~ ~~-~~
1,422,967 1,524,072
Endowed fund
Dr McCall Memorial Fund 32,274 32,274
Dorothy Evans Bequest Fund 24,561 24,561
56,835 56,835
TOTAL FUNDS 3,546,764 3,547,745

The fi nancial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The fi nancial statements on pages 22 to 40 were approved by the Council and authorised for issue on 5th September 2022 and are signed on its behalf by:

A.M. Brunt

Chair

2 ~~4~~

Annual Report and Financial Statements for the period ended 31 March 2022

STATEMENT OF CASH FLOWS

STATEMENT OF CASH FLOWS
STATEMENT OF CASH FLOWS 2022 2021
£ £
CASH FLOWS FROM OPERATING ACTIVITIES:
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (187,913) (206,278)
CASH FLOWS FROM INVESTING ACTIVITIES:
Dividends, interest and rents from investments 105,853 100,435
Purchase of tangible fixed assets (116,686) (6,670)
Proceeds from sale of investments 571,354 332,105
Proceeds from equalisations 450 -
Purchase of investments (181,192) (210,001)
NET CASH PROVIDED BY/(USED IN) INVESTING ACTIVITIES 379,779 215,869
CHANGE IN CASH AND CASH EQUIVALENTS IN THE REPORTING PERIOD 191,866 9,591
Cash and cash equivalents at the beginning of the reporting period 98,223 88,632
CASH AND CASH EQUIVALENTS AT THE END OF THE REPORTING PERIOD 290,089 98,223
RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW
FROM OPERATING ACTIVITIES		 2022 2021
£ £
Net income/(expenditure) for the reporting period (981) 479,053
Adjusted for;
Depreciation 24,889 16,618
(Gains)/losses on investments (188,976) (610,989)
Dividends, interest and rents from investments (105,853) (100,435)
(Increase)/decrease in debtors 23,978 12,638
Increase/(decrease) in creditors 59,030 (3,163)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (187,913) (206,278)
ANALYSIS OF CASH AND CASH EQUIVALENTS 2022 2021
£ £
Cash in bank 49,194 21,272
Investment fund current account 240,895 76,951
290,089 98,223

25

Annual Report and Financial Statements for the period ended 31 March 2022

ACCOUNTING POLICIES

The principal policies adopted, judgements together with the key sources of estimation uncertainty used in the preparation of the fi nancial statements are as follows;

BASIS OF PREPARATION

The fi nancial statements have been prepared 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 (FRS102) (eff ective 1 January 2019) - (Charities SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

The Financial Statements are prepared in sterling, which is the functional currency of the Charity, and are rounded to the nearest £.

KEY JUDGEMENTS

In preparing the fi nancial statements no judgements have been made apart from those involving estimates in the process of applying the charity’s accounting policies. No assumptions concerning the future have a signifi cant risk of causing material adjustment to the carrying value of assets and liabilities within the next reporting period.

PUBLIC BENEFIT ENTITY

The charitable company meets the defi nition of a public benefi t entity under FRS 102.

GOING CONCERN

The Trustees believe there are adequate resources which will enable the company to meet its liabilities for at least one year from the date the fi nancial statements are signed and authorised for issue. For this reason, the trustees have adopted the going concern basis in preparing the fi nancial statements.

FUND ACCOUNTING

Details concerning fund accounting split by unrestricted, designated, restricted and endowed funds, are shown in note 17 of the fi nancial statements.

The fi nancial statements include the consolidation of the funds held by the Institute on behalf of others and these funds are not necessarily and wholly under the control of the Trustees.

26

Annual Report and Financial Statements for the period ended 31 March 2022

ACCOUNTING POLICIES

INCOME

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income received in advance of the provision of a specifi ed service is deferred until the criteria for income recognition are met.

EXPENDITURE AND IRRECOVERABLE VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Expenditure is classifi ed under the following activity headings:

Grant cost are recognised in full in the fi nancial year the grant award commitment is made.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Charity and include the audit fees and costs linked to the strategic management of the Charity

Support costs are allocated between the expenditure categories of the SOFA on a basis designed to refl ect the use of the resource. Costs relating to a particular activity are allocated directly.

OPERATING LEASES

Annual rentals under operating leases are charged to the Statement of Financial Activities on a straightline basis over the lease term.

27

Annual Report and Financial Statements for the period ended 31 March 2022

ACCOUNTING POLICIES

TANGIBLE FIXED ASSETS

Items of equipment and other fi xed assets are capitalised where the purchase price exceeds £500 and the items have an estimated useful economic life of greater than two years. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

Tangible fi xed assets have been restated at fair value as at 6th April 2014 in accordance with FRS102. These values have been used as deemed cost from 6th April 2014.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Land - no depreciation
Buildings
- Roof - 4% per annum straight line
- Windows - 4% per annum straight line
- Fabric - 2% per annum straight line
- Other - 10% per annum straight line
Of ce equipment - 10% per annum straight line

INVESTMENTS

Investments are stated in the balance sheet at market value. Unrealised gains and losses are recorded in the statement of fi nancial activities in accordance with the revaluation of fi xed asset investments to market value.

FINANCIAL INSTRUMENTS

The charitable company only has fi nancial assets and fi nancial liabilities of a kind that qualify as basic fi nancial instruments. Basic fi nancial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

DEBTORS AND CREDITORS RECEIVABLE/PAYABLE WITHIN ONE YEAR

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

CASH AT BANK AND IN HAND

Cash at bank and cash 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.

TAXATION

As a registered charity, The North Staff ordshire Medical Institute is exempt from tax on income and gains to the extent that these are applied to its charitable objects. Accordingly, there is no taxation charge in these fi nancial statements.

28

Annual Report and Financial Statements for the period ended 31 March 2022

NOTES TO THE FINACIAL STATEMENTS

1. DETAILED COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted Restricted Endowed Total
Note
funds funds funds 2021
£ £ £ £
INCOME FROM:
Donations and legacies 4 21,856 - - 21,856
Other trading activities:
Rentals from room hire 6,033 - - 6,033
Investments:
Rentals from investment property 38,063 - - 38,068
Income from investments 5 62,372 - - 62,372
Other income 6 34,662 - - 34,662
TOTAL 162,986 - - 162,986
EXPENDITURE ON:
Raising funds 7 187,759 - - 187,759
Charitable activities 8 15,608 91,555 - 107,163
TOTAL 203,367 91,555 - 294,922
NET INCOME/(EXPENDITURE) (40,381) (91,555) - (131,936)
Net gains/(losses) on investments:
- unrealised 229,894 291,249 24,013 545,156
- realised 65,833 - - 65,833
TOTAL NET GAINS/(LOSSES) ON
INVESTMENTS 295,727 291,249 24,013 610,989
NET MOVEMENT IN FUNDS
255,346 199,694 24,013 479,053
RECONCILIATION OF FUNDS:
Total funds brought forward 17 1,711,492 1,324,378 32,822 3,068,692
TOTAL FUNDS CARRIED FORWARD
17 1,966,838 1,524,072 56,835 3,547,745

29

Annual Report and Financial Statements for the period ended 31 March 2022

2. MEMBERS’ LIABILITY

The North Staff ordshire Medical Institute is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to a maximum of £2 each per member of the charity.

3. NET MOVEMENT OF FUNDS FOR THE FINANCIAL YEAR

Net movement in funds for the fi nancial year is stated after charging/(crediting):

2022 2021
£ £
Auditors’ remuneration 3,840 3,840
Depreciation and other amounts written off tangible fixed assets 24,889 21,023
Rents receivable in respect of operating leases (38,064) (38,063)
Operating lease charges 1,518 1,518

4. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
2022 2021
£ £
Donations 2,164 -
Grants 43,000 21,856
______ ______
45,164 21,856
NCOME FROM INVESTMENTS
2022 2021
£ £
Interest 12,137 10,123
Dividends receivable 55,652 52,249
67,789 62,372
Included above is income from listed investments:
Interest on Government stocks & Fixed rate bonds 5,160 4,867
Dividends 55,652 52,249
60,812 57,116

5. INCOME FROM INVESTMENTS

30

Annual Report and Financial Statements for the period ended 31 March 2022

6. OTHER INCOME

OTHER INCOME
2022 2021
£ £
Unrestricted funds:
Members subscriptions 2,729 3,165
Concession for catering 300 -
Service recharge to tenants 32,534 31,497
Wade lecture income 687 -
36,250 34,662
EXPENDITURE ON: RAISING FUNDS
Unrestricted Restricted Endowed
funds funds funds 2022 2021
£ £ £ £ £
Salaries contribution 113,716 - - 113,716 75,733
Insurance 6,320 - - 6,320 4,960
Repairs, maintenance and equipment 29,453 - - 29,453 19,659
Refurbishment costs - - -
Printing, stationery, postage and
Telephone 10,128 - - 10,128 3,328
Advertising 3,750 - - 3,750 3,750
Computer and website support 1,765 - - 1,765 1,454
Lecture/event/training costs 3,729 - - 3,729 -
General 14,602 - - 14,602 9,379
Catering 1,863 - - 1,863 -
Rates, heat, light and water 39,249 - - 39,249 31,585
Subscriptions 588 - - 588 270
Depreciation 24,889 - - 24,889 16,618
Investment management costs 24,195 - - 24,195 21,023
274,247 274,247 187,759

7. EXPENDITURE ON: RAISING FUNDS

31

Annual Report and Financial Statements for the period ended 31 March 2022

8. EXPENDITURE ON: CHARITABLE ACTIVITIES

EXPENDITURE ON: CHARITABLE ACTIVITIES
2022 2021
£ £
Governance costs 9,180 15,608
Grant making (see note 9) 128,675 91,555
137,855 107,163
GRANT MAKING
2022 2021
£ £
Research projects approved by grants panel and Council 128,675 156,697
Less underspent grants returned and notified reductions in commitments - (65,142)
128,675 91,555

9. GRANT MAKING

32

Annual Report and Financial Statements for the period ended 31 March 2022

9. GRANT MAKING (continued)

The amount payable in the year comprises:

2022 2021
Research Grants and awards £ £
Keele University 6 grants (2021: 5 grants)
- Tissue Engineering patch for lung resections to repair leaks - 18,250
- Assess reason for readmission after heart attacks - 15,220
- Vagus nerve simulation in obesity - 19,996
- Assess effect of different coloured crockery on nutrition of the elderly - 13,600
- Testosterone replacement therapy - 10,631
-
- A prediction tool to predict prostate cancer aggressiveness 8,000 -
- User evaluation of a home-monitoring kit for patients with diabetes 11,189
- Analysis of Lung microbiome in children with bronchitis 9,978 -
- Investigation of MHC Class II accessory molecule CD74 in Ovarian Cancer 20,000
- Injectible Void-forming Cell-laden Hydrogel for Articular Cartilage Repair 19,985
- Fellowship re Mucous profiling of COPD patient-derived small airway models 59,523
Total grants awarded 128,675 77,697
- Re-award of underspends - 79,000
- Lapsed grants - (65,142)
128,675 91,555
Reconciliation of grants payable:
Commitments at beginning of year 322,004 299,774
Commitments made in the year 128,675 156,697
Agreed reductions in future commitments - (65,142)
Grants paid during the year 450,679 391,329
(82,122) (69,325)
Commitments at end of year 368,557 322,004
Commitments at end of year are payable as follows: -
Within one year 208,557 162,004
After more than one year 160,000 160,000

33

Annual Report and Financial Statements for the period ended 31 March 2022

10. TRUSTEES’ REMUNERATION AND EXPENSES

No emoluments were paid during the year to the Chairman, trustees, offi cers or members of Council. (2021: £nil)

No expenses have been reimbursed during the year to the Chairman, trustees, offi cers or members of Council. (2021: £nil)

Trustees are the key management personnel of the Charity.

11. STAFF COSTS

The average number of UK staff engaged throughout the year, calculated on a full-time basis was: -

2022 2021
Number Number
Services to the general public 1 1
Administration and management 2 2
3 3
The cost of engaging those staff was: -
113,716 75,733
Salaries, national insurance and pension scheme

No employee received remuneration amounting to more than £60,000 in either year

12. TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
Freehold land Freehold Office Total
buildings Equipment
£ £ £ £
COST
At beginning of year 250,000 532,670 327,281 1,109,951
Additions - 105,968 10,718 116,686
At end of year 250,000 638,638 337,999 1,226,637
DEPRECIATION
At beginning of year - 63,773 293,931 357,704
Charge for the year - 17,714 7,175 24,889
At end of year - 81,487 301,106 382,593
NET BOOK VALUE
At 31 March 2022 250,000 557,151 36,893 844,044
At 5 April 2021 250,000 468,897 33,350 752,247

34

Annual Report and Financial Statements for the period ended 31 March 2022

12. TANGIBLE FIXED ASSETS (continued)

The freehold land and buildings were valued on 14 April 2016 by Louis Taylor Ltd. and confi rmed as being valid at an eff ective date of 6 April 2014. The market valuation was based on current or similar use of the existing land and buildings. The valuation has been used as the deemed cost, being the fair value at the date of transition to Financial Reporting Standard 102 by the Charity.

As part of the valuation the Charity has been able to quantify the element of the building that represents investment property. The investment property is classifi ed as fi xed asset investment in these fi nancial statements.

13. FIXED ASSET INVESTMENTS

IXED ASSET INVESTMENTS
2022 2021
£ £
Investment Property 224,000 224,000
Investment Portfolio 2,554,286 2,755,922
2,778,286 2,979,922

The Investment Property relates to the long-term lease of part of the building to independent tenants on commercial lease terms.

INVESTMENT PORTFOLIO VALUATION_:_Equities, Government Stock and fixed £
rate Bonds.
At 6 April 2021 2,755,922
Additions 181,192
Revaluation 188,976
Equalisation (450)
Disposals at opening market value (571,354)
At 31 March 2022 2,554,286
COST OF INVESTMENTS
At 31 March 2022 2,589,770
At 5 April 2021 2,969,588

35

Annual Report and Financial Statements for the period ended 31 March 2022

The analysis of market valuations is as follows:

The analysis of market valuations is as follows:
EQUITIES £
Market value at 31 March 2022 2,206,523
Market value at 5 April 2021 2,628,051
GOVERNMENT STOCK & FIXED RATE BONDS
Market value at 31 March 2022 347,763
Market value at 5 April 2021 127,871
Total market value at 31 March 2022 2,554,286
Total market value at 5 April 2021 2,755,922

All investments are listed on a recognised stock exchange. All the equities are held with a UK domiciled fund, It is the Charity’s policy only to deal with listed securities.

14. DEBTORS

DEBTORS
2022 2021
£ £
Investment Managers - 1,149
Trade debtors 30,492 52,169
Prepayments and accrued income 8,540 6,148
VAT 6 3,550
39,038 63,016
CREDITORS:Amounts falling due within one year
2022 2021
£ £
Grants (see note 9) 208,557 162,004
Trade Creditors 15,387 -
Accruals and deferred income 7,302 15,328
Other creditors 13,447 8,331
244,693 185,663

15. CREDITORS: Amounts falling due within one year

36

Annual Report and Financial Statements for the period ended 31 March 2022

16. CREDITORS: Amounts falling due after more then one year

2022 2021
£ £
Grants (see note 9) 160,000 160,000
160,000 160,000
MOVEMENT ON FUNDS
Balance at Incoming Resources Gains & Transfers Balance at
05-Apr-21 Resources Expended losses 31-Mar-22
£ £ £ £ £ £
UNRESTRICTED FUNDS
General Fund 109,740 196,145 (265,713) - 70,430 110,602
Designated Funds
Building Maintenance fund 210,497 - - - (36,968) 173,529
Land and Buildings Fund 942,897 - (17,714) - 105,968 1,031,151
Income Generation fund 703,704 - - 188,976 (141,000) 751,680
1,966,838 196,145 (283,427) 188,976 (1,570) 2,066,962
RESTRICTED FUNDS
Research Fund 897,258 25,000 (128,675) - - 793,583
Kidney Fund 613,931 - - - - 613,931
Section of General Practice 11,353 - - - - 11,353
Section of Psychiatry 1,530 - - - - 1,530
Alan Davies Fund - 1,000 1,570 2,570
1,524,072 26,000 (128,675) - 1,570 1,422,967
ENDOWED FUNDS
Dr McCall Memorial Fund 32,274 - - - - 32,274
Dorothy Evans Bequest Fund 24,561 - - - - 24,561
56,835 - - - - 56,835
3,547,745 222,145 (412,102) 188,976 - 3,546,764

17. MOVEMENT ON FUNDS

37

Annual Report and Financial Statements for the period ended 31 March 2022

UNRESTRICTED FUNDS

General Fund

General donations to the Charity are initially brought into the General Fund. In addition members’ subscriptions, rentals from room hire, investment income and incidental income of the Institute, contribute to the fund. A levy is made on the other funds towards the administration costs, based on the fund’s investment income received. This fund is monitored to ensure it sits within the Charity’s reserve policy as set out on pages 14 and 15 of the Trustees’ report.

Building Maintenance Fund

The Trustees have recognised that, in order to maintain the premises at Hartshill and keep it in good operational condition, there needs to be a fund available to cope with larger maintenance expenditure which may come along on a cyclical basis. This designation was in part included in the previously named Nadin Fund (established by a general gift of £42,444 from the Estate of Mrs W. Nadin in 1980) and has been created by a transfer from that fund.

Land and Buildings Fund

This fund is comprised of the freehold land and buildings, and the freehold investment property at Hartshill. These are an integral part of the Institute and its membership and the wider community, the Trustees regard these as enduring assets which will be retained by the Charity for the longer term. Accordingly, the net book values, which forms part of the Charity’s unrestricted reserves, have been designated for them to remain with their current use and purposes. As with the maintenance fund this was previously represented, in part, by the Nadin Fund.

Income Generation Fund

This designation has been made by trustees in recognition of the fact that the charity no longer has a signifi cant ongoing external income stream to enable it to supplement annual general research grants programme, as the restricted funds grants pot diminishes). In order to maintain such a program support (ideally a minimum of £40,000 p.a.) they have set aside reserves for investment to enable them, via income and capital growth, to generate suffi cient resources to try to provide this annually. They have also recognised that the general operation of the building for its charitable purposes is likely for the foreseeable future to give rise to an operating shortfall. A further amount of resources therefore is also needed to be put aside to generate suffi cient investment returns to fund this annual shortfall. Together these are now described as the Income Generation Fund. This was previously partly represented by the Glover and Gallimore Fund, a fund established in the year ended 2006 to recognise the substantial donations received in the year ended 5 April 2003 and to, inter alia, generally support the Institute.

For 2021/21 this fund has been used to restore the level of general funds to the target required, and provide funds for anticipated major repairs to the Hartshill premises required in future fi nancial periods, and continue to rebuild the balance of this fund for its target income generation purpose.

38

Annual Report and Financial Statements for the period ended 31 March 2022

RESTRICTED FUNDS

Research Fund

Established by public donations partly to fi nance and partly to endow medical research under the auspices of the North Staff ordshire Medical Institute Limited (limited by guarantee). During 2021/22 this was used to provide funds for the annual awards programme which totalled £128,675

Kidney Fund

Established by public subscription in 1967 to provide a kidney unit at the North Staff ordshire Hospital Centre and to fi nance research into kidney disease.

Section of General Practice

The object of the section is to promote further education within general practice.

Section of Psychiatry

The object of the section is to promote further education within psychiatry.

ENDOWED FUNDS

Dr McCall Memorial Fund

Established in 1996 from a donation by Mrs McCall to fi nance research in pathology.

Dorothy Evans Bequest Fund

Established in 1998 by a gift of £16,691 from the Estate of Miss Dorothy Evans to fi nance the purchase of books for the library. The funds were created from donations which were to be held as capital. The income arising is only to be used to fi nance specifi c expenditure.

18. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible Investments Net current Long term Total
Fixed assets assets/liabilities liabilities
£ £ £ £ £
Unrestricted
- general 36,893 91,517 (17,808) - 110,602
- designated 807,151 1,215,721 (66,512) - 1,956,360
Restricted - 1,470,206 112,761 (160,000) 1,422,967
Endowed - 842 55,993 - 56,835
844,044 2,778,286 84,434 (160,000) 3,546,764

39

Annual Report and Financial Statements for the period ended 31 March 2022

19. COMMITMENTS UNDER OPERATING LEASES

At 31 March the company was committed to making the following minimum lease payments under non-cancellable operating leases as follows:


non-cancellable operating leases as follows:
2022 2021
£ £
Plant and machinery:
Expiring between 2 and 5 years 5,312 6,829

20. RELATED PARTY TRANSACTIONS

Owing to the nature of the Charities operations and the composition of the board of trustees being drawn from a medical background, it is inevitable that transactions will take place with organisations in which a member of the board of trustees may have an interest. All transactions involving such organisations are conducted at arm’s length and in accordance with the charity’s fi nancial regulations and normal procurement procedures.

21. FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS
2022 2021
£ £
Financial assets
Measured at fair value through net income/expenditure:
Fixed asset listed investments (note 13) 2,554,286 2,755,922
Debt instruments measured at amortised cost:
Debtors (note 14) 30,492 52,169
Financial liabilities
Measured at amortised cost:
Creditors (note 15) 15,387 23,659
Net gains and (losses) (including changes in fair value).
Financial assets measured at fair value through net income/expenditure 188,976 610,989

40

Annual Report and Financial Statements for the period ended 31 March 2022

INDEPENDENT AUDITORS REPORT TO THE NORTH STAFFORDSHIRE MEDICAL INSTITUTE LIMITED

OPINION

We have audited the fi nancial statements of The North Staff ordshire Medical Institute Limited (the ‘charitable company’) for the period ended 31st March 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow statement and notes to the fi nancial statements, including a summary of signifi cant accounting policies. The fi nancial 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 fi nancial 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 Auditor’s responsibilities for the audit of the fi nancial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the fi nancial statements in the UK, including the FRC’s Ethical Standard, and we have fulfi lled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is suffi cient and appropriate to provide a basis for our opinion.

CONCLUSIONS RELATING TO GOING CONCERN

In auditing the fi nancial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the fi nancial statements is appropriate.

Based on the work we have performed, we have not identifi ed any material uncertainties relating to events or conditions that, individually or collectively, may cast signifi cant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the fi nancial 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

41

Annual Report and Financial Statements for the period ended 31 March 2022

OTHER INFORMATION

The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report, other than the fi nancial statements and our auditor’s report thereon. Our opinion on the fi nancial 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.

In connection with our audit of the fi nancial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the fi nancial statements or our knowledge obtained in 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 there is a material misstatement in the fi nancial statements or a material misstatement of the other information. 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.

OPINIONS ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006

In our opinion, based on the work undertaken in the course of the audit:

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identifi ed material misstatements in the directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

42

Annual Report and Financial Statements for the period ended 31 March 2022

RESPONSIBILITIES OF TRUSTEES

As explained more fully in the trustees’ responsibilities statement set out on page 21, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the fi nancial statements and for being satisfi ed that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of fi nancial statements that are free from material misstatement, whether due to fraud or error.

In preparing the fi nancial statements, the trustees are responsible for assessing the charitable company’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 charitable company or to cease operations, or have no realistic alternative but to do so.

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

Our objectives are to obtain reasonable assurance about whether the fi nancial 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 infl uence the economic decisions of users taken on the basis of these fi nancial 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 part of our planning process:

43

Annual Report and Financial Statements for the period ended 31 March 2022

The key procedures we undertook to detect irregularities including fraud during the course of the audit included:

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 fi nancial statements or non-compliance with regulation. The risk increases the more that compliance with a law or regulation is removed from the events and transactions refl ected in the fi nancial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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

USE OF OUR REPORT

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members 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 charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

MRS KAREN STALEY FCA BSc (Hons)

Senior Statutory Auditor For and on behalf of Geens Limited, Statutory Auditors 68 Liverpool Road Stoke-on-Trent ST4 1BG 5 September 2022

44

Annual Report and Financial Statements for the period ended 31 March 2022

TRUSTEES’ REPORT APPENDIX

For the avoidance of doubt the information below is part of the Trustee’s report set out on pages 5-20 of this Annual Report and Financial statements for the year ended 31 March 2022.

The following Trustees held offi ce in the year ended 31 March 2022. With the exception of those Trustees where a date of resignation is noted or where the date of appointments (as noted) were made after the year end. As such this list is also the current serving Trustees at the date the Trustees report was approved.

TRUSTEES / COMPANY DIRECTORS

Dr. C. Banks *

Mr. M. W. Barnish *

Mr. P. E. C. Blood

Prof A.M Brunt *[o ]

Mr. B. C. Carnes MBE *[o ]

Prof N Chockalingam (appointed 17th May 2021)

Mr I. Cotterill *

Mr. R. W. Farmiloe *

Prof. N.R. Forsyth[o]

Prof J. Keeling (appointed 17th May 2021)

Dr M McCarthy (appointed 14th March 2022)

Prof K Maddock *

Mr. J. D. Muir (appointed 17th May 2021)

Dr. P Wu[o]

Additionally

Mr J.G Wade (resigned 20th April 2022)

45

Annual Report and Financial Statements for the period ended 31 March 2022

Charity registration numbers and address

Charity’s Advisors

Auditors

Company Registration number 00705320

Registered Charity number 200843

Registered Offi ce

Hartshill Road, Hartshill, Stoke-on-Trent, Staff ordshire, ST4 7NY

The following individuals held and, unless indicated otherwise, continue to hold the Honorary Offi cer positions set out in the Charity’s byelaws:

Honorary Offi cers

President Mr B. C. Carnes MBE. Chair Prof. A.M Brunt Honorary Treasurer Mr M. W. Barnish. Deputy Chair Currently vacant

Geens Limited, 68 Liverpool Road, Stoke-on-Trent, Staff ordshire, ST4 1BG.

Investment Managers

Evelyn Partners ( formerly Smith & Williamson Investment Management LLP), 9 Colmore Row, Birmingham B3 2BJ.

Bankers

National Westminster Bank PLC, 75 High Street,

Newcastle-under-Lyme, Staff ordshire, ST5 1PP.

Solicitors

Knights Professional Services Ltd, The Brampton, . Newcastle-under-Lyme, Staff ordshire, ST5 0QW

Other Appointments

Editor of Midlands Medicine Journal.

Dr. D. L. P. de Takats.

46