THE MANCHESTER LOCAL MEDICAL COMMITTEE COMPASSIONATE FUND
REGISTERED CHARITY NUMBER : 221889
REPORT OF THE HONORARY TREASURER
AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 June 2025
STRATHMORE ACCOUNTANTS Manchester
THE MANCHESTER LOCAL MEDICAL COMMITTEE COMPASSIONATE FUND
Index to the financial statements for the year ended 30 June 2025
| Page | |
|---|---|
| Trustees and advisers | 1 |
| Report of the Honorary Treasurer | 2 |
| Statement of the Trustees' responsibilities | 3 |
| Accountants' report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 to 8 |
Page 1
THE MANCHESTER LOCAL MEDICAL COMMITTEE COMPASSIONATE FUND
Trustees and advisers
| Trustees | Dr V Mehra | Chairman |
|---|---|---|
| Dr S Minkoff | Chief Executive | |
| Dr S Anane | Vice Chairman | |
| Dr S J Dean | Hon. Treasurer | |
| Dr R Thompson | Executive Member | |
| Dr S Colabella | Executive Member | |
| Dr A Karigiri | Executive Member | |
| Administrative address | Oak House | |
| 47 Graham Street | ||
| Beswick | ||
| Manchester | ||
| M11 3BB | ||
| Accountants | Strathmore Accountants Limited | |
| 3rd Floor Ivy Mill | ||
| Crown Street | ||
| Failsworth | ||
| Manchester | ||
| M35 9BG | ||
| Bankers | Santander Corporate and Commercial Banking | |
| 298 Deansgate | ||
| Manchester | ||
| M3 4HH |
Page 1
THE MANCHESTER LOCAL MEDICAL COMMITTEE COMPASSIONATE FUND
Report of the Honorary Treasurer for the year ended 30 June 2025
This year a surplus of £28,017 has arisen against a budgeted surplus of £5,517 and an actual surplus of £5,599 in the previous year. The current year surplus includes profit on disposal of Charibond investments totalling £21,348 which was not included in the budget. The surplus excluding disposal profits stands at £6,669. Income from Charifund investments also performed ahead of expectations with total investment income standing at £5,106 against a budget of £4,525. Income from LMC buying groups was also in excess of budgeted performance at £564 against a budget of £148.
No donations were made to medically related charities during the year as it was decided to preserve the remaining funds for future activities.
The Trustees made the decision to maintain a minimum of £6,000 in liquid assets in order to comply with the LMC's Reserves Policy.
Looking to the future, a £4,094 surplus is projected for the financial year 2025/26 subject to fluctuation due to calls on the Compassionate Fund.
Continued monitoring of the financial position will be undertaken by the Trustees, to ensure that the Fund can achieve its objectives.
Dr S J Dean Honorary Treasurer
3rd November 2025
Page 2
THE MANCHESTER LOCAL MEDICAL COMMITTEE COMPASSIONATE FUND
Statement of the Trustees' responsibilities for the year ended 30 June 2025
Charity law requires the Trustees to prepare financial statements for each financial year.
In preparing those financial statements the Trustees are required to:
a) select suitable accounting policies and apply them consistently;
b) make judgements and estimates that are reasonable and prudent;
c) prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue to operate.
The Trustees are responsible for keeping proper 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 Acts. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.
The trustees have referred to the Charity Commission's general guidance on Public Benefit Reporting and are satisfied that they have complied with the duty in the Charities Acts, to have due regard to public benefit guidance published by the Commission.
The Trustees are satisfied that the donations and grants made from the Compassionate Fund (see note 2) further the Fund's charitable purposes for the public benefit; and that the aims and objectives of the Compassionate Fund Trust Deed, as amended, are being met.
Dr S J Dean Honorary Treasurer
3rd November 2025
Page 3
THE MANCHESTER LOCAL MEDICAL COMMITTEE COMPASSIONATE FUND
Accountants' report for the year ended 30 June 2025
The financial statements on pages 5 to 8 have been prepared from the records and information supplied by the Trustees of The Manchester Local Medical Committee Compassionate Fund.
We have examined the financial statements on pages 5 to 8 and certify them to be in accordance with the accounting records of The Manchester Local Medical Committee Compassionate Fund.
Strathmore Accountants Limited 3rd Floor, Ivy Mill Crown Street Failsworth Manchester M35 9BG
3rd November 2025
Page 4
THE MANCHESTER LOCAL MEDICAL COMMITTEE COMPASSIONATE FUND
Statement of financial activities for the year ended 30 June 2025
| Notes Income Investment income LMC Buying Groups income Bank Interest Disposal charibond investment Total income Expenditure Charitable Activities Grants received 2 Donations 3 Governance Costs Total expenditure Net income for the year Total funds brought forward |
2025 2025 Unrestricted funds 5,106 564 999 21,348 28,017 - - - - 28,017 92,804 120,821 |
2024 2024 Unrestricted funds 4,524 147 928 - 5,599 - - - - 5,599 87,205 92,804 |
2024 2024 Unrestricted funds 4,524 147 928 - 5,599 - - - - 5,599 87,205 92,804 |
|---|---|---|---|
| 5,599 - |
|||
| 5,599 | |||
| 87,205 | |||
| 92,804 |
Page 5
THE MANCHESTER LOCAL MEDICAL COMMITTEE COMPASSIONATE FUND
Balance sheet for the year ended 30 June 2025
| Notes Investments Bonds 4 Funds 4 Current Assets Other Debtors Cash at bank Less Current Liabilities Net Current assets Total Assets less Current Liabilities Funds of the Charity Unrestricted funds Balance at 1 July 2024 Net income for the year Total Funds |
2025 2025 £ £ Unrestricted funds - 38,742 38,742 - 82,079 82,079 - 82,079 120,821 92,804 28,017 120,821 |
2024 2024 £ £ Unrestricted funds 34,178 38,742 72,920 - 19,884 19,884 - 19,884 92,804 87,205 5,599 92,804 |
2024 2024 £ £ Unrestricted funds 34,178 38,742 72,920 - 19,884 19,884 - 19,884 92,804 87,205 5,599 92,804 |
|---|---|---|---|
| 92,804 | |||
| 87,205 5,599 |
|||
| 92,804 |
We approve the financial statements and confirm that we have made available all relevant records and information for their preparation.
Dr S Minkoff ...................................................... Dr S J Dean ......................................................
3rd November 2025
Page 6
THE MANCHESTER LOCAL MEDICAL COMMITTEE COMPASSIONATE FUND
Notes to the financial statements for the year ended 30 June 2025
-
Accounting policies
-
a) These financial statements have been prepared on an accruals basis and include income and expenditure as they are earned or incurred, rather than as cash is received or paid.
-
b) The charity's unrestricted funds consist of funds which the charity may use on a discretionary basis according to its trust deed.
-
c) Income from fixed interest investments, including the associated income tax recovery is recognised as income when the net interest is received.
-
d) Investments are included in the financial statements at historical cost.
2 Grants 2025 2024 £ £ None - - - - 3 Donations 2025 2024 None - - - -
Page 7
THE MANCHESTER LOCAL MEDICAL COMMITTEE COMPASSIONATE FUND
Notes to the financial statements for the year ended 30 June 2025
| 4 Investments Bonds Charibond Charities Narrower-Range Common Investment Fund ### 51228.372 units ### 0.000 units Total Bonds Funds M & G Charifund ### 2683.345 units ### 2683.345 units Total Funds |
At cost Additions Disposals At cost 1 July 2024 30 June 2025 £ £ £ £ 34,178 - 34,178 - |
|---|---|
| 34,178 - 34,178 - |
|
| 38,742 - - 38,742 |
|
| 38,742 - - 38,742 |
The Charibond investment was disposed of during the year for £55,526, the only investment held at 30 June 2025 are the M & G Charifund units with a market value of £42,208 (£40,700 - 30 June 2024)
Page 8