**Charity Registration No. 207530**
# **ASSOCIATION OF PHYSICIANS OF GREAT BRITAIN AND IRELAND**
## **TRUSTEES' REPORT AND ACCOUNTS**
**FOR THE YEAR ENDED 31 DECEMBER 2024**
**ASSOCIATION OF PHYSICIANS OF GREAT BRITAIN AND IRELAND LEGAL AND ADMINISTRATIVE INFORMATION**
## **Trustees**
Professor Elizabeth Sapey Professor Sinead Langan Professor Claire Shovlin Professor Rebeca Fitzgerald Professor Richard Trembath Professor Dame Sharon Peacock Professor Christopher Day Professor Julian Knight
|**Charity number**|207530|
|---|---|
|**Registered office and**|C/o Association Services Ltd|
|**Principal Address**|33 St James's Square|
||London|
||SW1Y 4JS|
|**Independent Examiner**|TC Group|
||The Courtyard|
||Shoreham Road|
||Upper Beeding|
||Steyning|
||West Sussex|
||BN44 3TN|
|**Bankers**|Barclays Bank|
||Leicester Serving Centre|
||Leicester|
||LE87 2BB|
|**Investment managers**|Brown Shipley & Co Limited|
||2 Moorgate|
||London|
||EC2R 6AG|
## **ASSOCIATION OF PHYSICIANS OF GREAT BRITAIN AND IRELAND**
## **CONTENTS**
**----- Start of picture text -----**
Page
Trustees’ report 1-4
Independent examiner’s report 5
Statement of financial activities 6
Balance sheet 7
Notes to the accounts 8-13
**----- End of picture text -----**
## **ASSOCIATION OF PHYSICIANS OF GREAT BRITAIN AND IRELAND**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
The Trustees present their report and accounts for the year ended 31 December 2024.
The accounts comply with the Charities Act 2011, the charity’s Trust Deed and 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) (effective 1 January 2015).
## **Trustees**
The Trustees Executive Committee named on the Legal and Administrative Information page have served during the year and to the date of the report.
## **Appointment of Trustees/Executive Committee.**
The Board of Trustees was appointed in 2021 and includes a Chair of Trustees, two non- executives, the Presidents elect, current and immediate past and the Honorary Secretary and Treasurer.
Executive Committee members are appointed by election at the Annual General Meeting. Names are proposed to the Executive Committee Meeting, which makes a selection at its meeting for final approval by the Annual General Meeting. The Board of Trustees and the Executive Committee stand for three years and the policy is to have committee members representing each geographic area of the Association.
## **Investment Power**
There are no restrictions as to investment powers and the Trustees engage Brown Shipley to administer the investments.
## **Constitution and objects**
The Association constitution is defined by its rule book and its objects are to promote academic medicine in the broadest sense.
The objects of the Association are to promote academic medicine in the broadest sense. The Trustees have confirmed that they have referred to the guidelines contained in the Charity Commission's general guidance on public benefit when reviewing the Association's aims and objectives and in planning future activities and setting the grant making policy for the year.
The Association carries out these objectives by:
Arranging an Annual Meeting at which the highest quality scientific research in medical practice is presented and discussed.
- To promote medical research within the UK and Ireland by making grants to teaching establishments.
- To promote research and education internationally by making grants, under a link scheme with developing countries.
- To produce jointly a scientific journal, the Quarterly Journal of Medicine.
Overall responsibility for the charity rests with the Trustees. The day-to-day running of the charity is delegated to Associations Services Ltd (ASL).
## **Developments, activities and achievements**
The Association continues to be responsible for the publication of the Quarterly Journal of Medicine published by Oxford University Press. The editor of the journal is a member of the Executive Committee and makes regular reports to the Association.
Income of £212,616 (net of VAT) was received from Oxford University Press in recognition of the contribution of the Association who founded the journal (2023: £194,739). Additional income of £13,411 was derived from membership subscriptions (2023: £12,265). The Annual Meeting was held in person with income of £20,625 from registration fees (2023: £21,954). The 2024 Annual Meeting costs of £95k were supported by the Association.
1
## **ASSOCIATION OF PHYSICIANS OF GREAT BRITAIN AND IRELAND TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
This income is used to fund all Association activities which include grant giving, the annual meeting, and the running of The Association (administered by ASL). Reserves have reduced from £858,074 in 2023 to £809,344 in 2024. There was an increase to the direct charitable activities in 2024 which contributed to the reduction. There was a gain on investments £41,789 (2023: gain of £43,092) and there were sufficient monies available to support the programmes detailed below. Investment income of £9,635 (2023: £8,777) is retained within the investment portfolio.
## Grants
The grants scheme, initiated in 2018 and updated during 2022, was continued:
- Summer Studentships (£1,500): designed primarily for Medical Students to finish off intercalated projects. Uptake had been limited to 1-2 per year. Ten were awarded in 2024 (£15k v £3k in 2023).
- Emerging Clinical Researchers (previously named Young Investigator) Awards – Designed to provide seed funding of typically £10k to generate pilot data and to facilitate the development of a competitive fellowship application within the broad scope of translational medicine. We awarded £78k during 2024 from applications received. (£59k 2023).
- AMS Stater Grants (£38,000p.a.): renewed with effect from 2023, for three years until 2025, the Association will take part in the Academy of Medical Sciences ‘Starter Grants for Clinical Lecturers Scheme’ as a specialist funder.
- Awards and Bursaries (£2,237): travel grants awarded to ECR members who present their research at the Annual Meeting.
## **The Association**
Membership of the association is open to all research professionals with an interest in translational medicine. The title of existing members who were selected based on stringent achievement criteria has been changed to “Fellows” and a small cadre of new Fellows will be elected annually. These changes extend the reach and impact of the Association aiming to position itself as “Leading Interdisciplinary Translational Research” in the UK by creating meetings and events that highlight emerging research areas that cut across disciplines and supporting Early Career Researchers pursuing translational medicine.
The 2024 Annual Meeting was presented in person and the costs were subsidised by the Association in order to support this activity. We continue to aim for the annual meeting to break even within the next 3 years, which require a doubling of current attendees from around 150-200 to 300-400.
Greater external collaboration and visibility is planned including partnering with other organisations (e.g. specialist societies, funders and publications), activities for ECRs outside of the meeting, press releases and podcasts, to support the positioning of the Association in the interdisciplinary translational research space.
## **Financial review**
The charity generated total income of the year of £260,311, up from £240,828 in 2023 and remains stable.
Total expenditure for the year was £350,228, up from £325,602 in 2023 due to increased charitable activities. Following a net gain on investments of £41,187 (2023: gain of £43,092), the charity reports net expenditure for the year of £48,730 (2023: net expenditure of £41,682).
The charity continues to hold a robust balance sheet, with total reserves of £809,344 (2023: £858,074).
2
## **ASSOCIATION OF PHYSICIANS OF GREAT BRITAIN AND IRELAND**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **Reserves**
The Trustees have a policy of ensuring that the reserves of the Association are maintained approximately at a level to support the current normal annual expenditure without further income over a three year period. The trust held free reserves of £809,344 at 31 December 2024 (2023: £858,074), which includes the investments held, and feel that they are acting within the charity’s set reserves policy.
The Brown Shipley Investment Portfolio Valuation at 31 December 2024 - Breakdown by asset class:
|Cash|£2,208|0%|
|---|---|---|
|Bonds|£84,327|14%|
|Equities|£362,857|60%|
|Structuredproducts|£140,613|23%|
|Private Asset s|£ 20,975|3%|
|Total|£610,980|100%|
## **Future Risks**
The Trustees are aware that the income of the Association depends principally on that made by Oxford University Press in respect of profits of the Quarterly Journal of Medicine. This allows the Association to continue to support its awards programme.
If the income from this source was reduced, the Association has sufficient reserves to maintain its charitable activities for a minimum three year period while the expenditure and income position is reviewed.
## **Future plans**
The Association of Physicians is the premier learned society in the UK with focus on translational medicine. Whilst the annual scientific meeting remains the cornerstone of the Association’s activities, additional activities have been developed and consolidated in recent years including webinars and podcasts. The Association held a successful Annual Meeting in London that brought together some of the leading clinician scientists and researchers with a focus on translational medicine from the UK and elsewhere, together with early career researchers. The Association has recognised the need to continue to innovate to attract delegates and maintain the relevance of the annual scientific meeting, with plans in place for the Annual Meeting in Birmingham in 2026 that will include individual symposia led by medical schools from across the region. The committee of early career researchers continues to provide mentoring and career support and encourage contributions to the Association’s activities from a more diverse range of colleagues. To support these developments the subcommittees into internal and external affairs have met regularly, in addition to the Executive Committee’s and Trustees’ meetings. The Association is grateful to its Trustees for providing strategic guidance to inform activities.
From a financial perspective the Association continues to invest in the Annual Meeting to make it a scientifically outstanding event while also looking to ensure sustainability. This includes generous travel bursaries for early career researchers and awards for the best original presentations, while also looking at opportunities for engagement with key stakeholders and potential additional sources of financial support.
## **Statement of Trustees’/Executive Committee Responsibilities**
The Trustees are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law requires the Trustees to prepare accounts 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, including the income and expenditure, of the charity for that year.
3
## **ASSOCIATION OF PHYSICIANS OF GREAT BRITAIN AND IRELAND TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
In preparing those 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; and
The Trustees/Executive Committee are responsible for keeping accounting records which disclose with reasonable accuracy at any time, the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the Executive Committee on 11th October 2025
and signed on their behalf
**Professor J Knight** Honorary Treasurer
4
## **ASSOCIATION OF PHYSICIANS OF GREAT BRITAIN AND IRELAND INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF ASSOCIATION OF PHYSICIANS OF GREAT BRITAIN AND IRELAND**
I report to the charity Trustees on my examination of the accounts of the above charity for the year ended 31 December 2024.
## **Responsibilities and basis of report**
As the charity’s Trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or
- the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
**Mark Cummins FCCA FCIE** On behalf of TC Group Office: Steyning, West Sussex
Dated: .........................
5
## **ASSOCIATION OF PHYSICIANS OF GREAT BRITAIN AND IRELAND STATEMENT OF FINANCIAL ACTIVITIES** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
|||**Total**|Total|
|---|---|---|---|
|||**2024**|2023|
|**Income from:**|**Note**|**£**|£|
|Charitable activities|**5**|**246,652**|228,958|
|Investments|**6**|**13,659**|11,870|
|||`──────`|`──────`|
|**Total income**||**260,311**|240,828|
|||`──────`|`──────`|
|**Expenditure on:**||||
|Raising funds||**8,805**|10,131|
|Charitable activities||**341,423**|315,471|
|||`──────`|`──────`|
|**Total expenditure**|**7**|**350,228**|325,602|
|||`──────`|`──────`|
|**Net gain/(loss) on investments**|**11**|**41,187**|43,092|
|||`──────`|`──────`|
|**Net expenditure**||**(48,730)**|(41,682)|
|**Reconciliation of funds**||||
|Total funds brought forward||**858,074**|899,756|
|||`──────`|`──────`|
|**Total funds carried forward**||**809,344**|858,074|
|||`══════`|`══════`|
All funds in 2024 and 2023 are unrestricted.
6
## **ASSOCIATION OF PHYSICIANS OF GREAT BRITAIN AND IRELAND**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2024**_
|||**2024**||2023||
|---|---|---|---|---|---|
||**Notes**|**£**|**£**|£|£|
|**Fixed assets**||||||
|Investments|**11**||**610,980**||569,191|
|**Current assets**||||||
|Debtors|**12**|**41,103**||19,993||
|Cash at bank and in hand||**225,820**||341,926||
|||`────────`||`────────`||
|||**266,923**||361,919||
|**Creditors: amounts falling due**||||||
|**within one year**|**13**|**(68,559)**||(73,036)||
|||`────────`||`────────`||
|**Net current assets**|||**198,364**||288,883|
||||`────────`||`────────`|
|**Net assets less current liabilities**|||**809,344**||858,074|
||||`════════`||`════════`|
|**The funds of the charity:**||||||
|Unrestricted funds|||**809,344**||858,074|
||||`────────`||`────────`|
||||**809,344**||858,074|
||||`════════`||`════════`|
The accounts were approved by the Board on 11th October 2025
.............................. Professor Julian Knight **Honorary Treasurer Charity number: 207530**
The notes on pages 8 to 13 form part of these financial statements
7
**ASSOCIATION OF PHYSICIANS OF GREAT BRITAIN AND IRELAND**
## **NOTES TO THE ACCOUNTS**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **1 Legal status of charitable company**
The Association of Physicians of Great Britain and Ireland is a charity. The charity’s registered number and office address can be found on the Legal and Administrative Information page.
## **2 Accounting policies**
## **2.1 Basis of preparation**
The financial 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice.
The Association of Physicians of Great Britain and Ireland meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). There are no material uncertainties about the Association of Great Britain and Ireland's ability to continue as a going concern.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound.
## **2.2 Cash Flow Statement**
In accordance with Section 7 of FRS 102 the charity is claiming exemption from the requirement to prepare a cash flow statement on account of its size.
## **2.3 Income**
All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income, the amount can be quantified with reasonable accuracy and there is probability over the receipt of the income. The following specific policies are applied to particular categories of income:
Income from charitable activities is recognised on an accruals basis, accounted for in relation to the period that they relate.
Investment income is accounted for on a receivable basis.
## **2.4 Expenditure**
Expenditure is included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT that cannot be recovered.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include independent examination fees and costs linked to the strategic management of the charity. These are included within support costs under the Charities SORP (FRS 102).
8
## **ASSOCIATION OF PHYSICIANS OF GREAT BRITAIN AND IRELAND NOTES TO THE ACCOUNTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **2 Accounting Policies (continued)**
## **2.5 Grant making policy**
Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.
## **2.6 Investments**
Fixed asset investments are stated at fair value. Realised and unrealised gains and losses are dealt with through the Statement of Financial Activities.
## **2.7 Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount.
## **2.8 Cash at bank and in hand**
Cash at bank and in hand includes cash and short term highly liquid investments. The Trustees seek to use short term deposits where possible to maximise the return on monies held at the bank and to manage cash flow.
## **2.9 Creditors and provisions**
- Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
## **2.10 Financial instruments**
- The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Basic financial instruments are recognised at amortised cost.
## **2.11 Fund Accounting**
Funds held by the charity are all unrestricted funds. These are funds which can be used in accordance with the charitable objects at the discretion of the Trustees and which have not been designated for other purposes.
## **3 Taxation**
The charity is registered with the Charities Commission (number: 207530). All of the charity's income falls within the exemptions set out in part 11 of the Corporation Tax Act 2010.
## **4 Trustee Remuneration**
All the Trustees donate their time spent running the charity on a voluntary basis and do not receive any remuneration for their work.
9
## **ASSOCIATION OF PHYSICIANS OF GREAT BRITAIN AND IRELAND**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
|**5**|**Income from charitable activities**|||
|---|---|---|---|
|||**Total**|Total|
|||**2024**|2023|
|||**£**|£|
||Subscriptions|**13,411**|12,265|
||Oxford University Press – QJM|**212,616**|194,739|
||Annual Meeting|**20,625**|21,954|
|||`────────`|`────────`|
||Total income from charitable activities|**246,652**|228,958|
|||`════════`|`════════`|
|**6**|**Income from investments**|||
|||**Total**|Total|
|||**2024**|2023|
|||**£**|£|
||Bank interest|**4,024**|3,093|
||Investment income|**9,635**|8,777|
|||`──────`|`───────`|
||Total income from investments|**13,659**|11,870|
|||`══════`|`═══════`|
|**7**|**Total expenditure**|||
|||**Total**|Total|
|||**2024**|2023|
|||**£**|£|
||**Raising funds**|||
||Investment management fees|**8,805**|10,131|
||**Charitable activities**|||
||Activities undertaken directly (see note 8)|**133,574**|102,305|
||Support costs|**207,849**|213,166|
|||**`───────`**|`───────`|
||Total cost of charitable activities|**341,423**|315,471|
|||`───────`|`───────`|
||**Total Expenditure**|**350,228**|325,602|
|||`═══════`|`═══════`|
10
## **ASSOCIATION OF PHYSICIANS OF GREAT BRITAIN AND IRELAND**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **7 Total expenditure (continued)**
|**Total expenditure (continued)**|||
|---|---|---|
||**Total**|Total|
|Analysis of support and governance costs:|**2024**|2023|
||**£**|£|
|**Governance costs:**|||
|Independent examiners fees|**2,350**|2,000|
|**Support costs:**|||
|**Association administration**|||
|Administration costs|**13,187**|12,933|
|PR|**30,000**|30,000|
|Committee meetings / travel|**4,278**|5,011|
|IT and systems|**7,632**|6,995|
|Presentations|**2,793**|1,650|
|Management fees|**51,250**|51,250|
|Audit and accountancy fees|**750**|700|
|Bank fees|**952**|1,393|
||**`───────`**|`───────`|
|Sub total|**110,842**|111,932|
||**`───────`**|`───────`|
|**Annual meeting**|||
|Meeting management|**20,465**|20,527|
|Audio visual and equipment|**14,553**|8,337|
|Design and print|**6,528**|2,848|
|Promotion, mailings & press|**2,485**|19,641|
|Social events|**11,744**|10,878|
|Speakers and programme|**9,216**|4,268|
|Sundry items|**1,997**|1,513|
|Travel|**10,428**|9,085|
|Venue Hire and Catering|**17,241**|22,137|
||**`───────`**|`───────`|
|Sub total|**94,657**|99,234|
||**`───────`**|`───────`|
||**207,849**|213,166|
||**`═══════`**|`═══════`|
The support costs, including comparative figures, have been reanalysed to better reflect the costs incurred by the charity
11
## **ASSOCIATION OF PHYSICIANS OF GREAT BRITAIN AND IRELAND NOTES TO THE ACCOUNTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **8 Analysis of grants**
Included within activities undertaken directly are grants payable as follows:
|Included within activities undertaken directly are grants payable as follows:|**Total**|Total|
|---|---|---|
||**2024**|2023|
||**£**|£|
|Young Investigator Awards Scheme|**78,337**|59,828|
|Summer Studentship|**15,000**|3,000|
|Starter Grants for Clinical Lecturers|**38,000**|38,000|
|Awards and Bursaries|**2,237**|1,477|
||**`───────`**|`───────`|
||**133,574**|102,305|
||**`═══════`**|`═══════`|
## **9 Trustees**
Trustees were reimbursed expenses during the year of £433 (2023: £2,966). During the year, and previous year, none of the Trustees (or any persons connected with them) received any remuneration for their services.
## **10 Employees**
There were no employees during the year or in the prior year.
## **11 Fixed asset investments**
|**Fair value at 1 January 2024**
Acquisitions at cost
Disposals at fair value
Change in fair value
**Fair value at 31 December 2024**
**Historical cost**
At 31 December 2024
At 31 December 2023|**Total**
**£**
569,191
130,847
(126,802)
37,744|
|---|---|
||**610,980**|
||**544,065**|
||522,170|
The total investment gain of £41,187 (2023: £43,092) shown in the Statement of Financial Activities is represented by an unrealised gain of £37,744 (2023: £33,946) and a realised gain of £3,443 (2023: £9,146).
|**Debtors**|**Total**|Total|
|---|---|---|
||**2024**|2023|
||**£**|£|
|Trade debtors|**1,623**|864|
|Prepayments and accrued income|**31,061**|13,962|
|Social security and other tax|**8,419**|5,167|
||**`───────`**|`───────`|
||**41,103**|19,993|
||`═══════`|`═══════`|
## **12 Debtors**
12
## **ASSOCIATION OF PHYSICIANS OF GREAT BRITAIN AND IRELAND NOTES TO THE ACCOUNTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
|**13**|**Creditors**|**Total**|Total|
|---|---|---|---|
|||**2024**|2023|
|||**£**|£|
||Trade creditors|**5,372**|5,834|
||Accruals and deferred income|**63,187**|67,202|
|||**`───────`**|`───────`|
|||**68,559**|73,036|
|||**`═══════`**|`═══════`|
Included within accruals and deferred income above are accrued grants payable amounting to £59,770 (2023: £59,828).
## **14 Control**
The charity is under the control of the Trustees.
## **15 Related party transactions**
There were no related party transactions during the year, or preceding year that require disclosure other than those already disclosed in note 9.
13
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