**CHELMSFORD MEDICAL EDUCATION AND RESEARCH TRUST**
## **FINANCIAL STATEMENTS**
**5 APRIL 2023**
## **CHARITY NO: 237690**
EDMUND CARR LLP Chartered Accountants 146 New London Road Chelmsford Essex CM2 0AW
## **CHELMSFORD MEDICAL EDUCATION AND RESEARCH TRUST**
## **FINANCIAL STATEMENTS**
## **YEAR ENDED 5 APRIL 2023**
|**CONTENTS**|**PAGE**|
|---|---|
|Legal and administrative details|1-2|
|Trustees’ Annual Report|3-4|
|Independent examiner’s report to the Trustees|5|
|Receipts and payments|6|
|Statement of assets and liabilities|7|
|Notes to the financial statements|8|
|Appendix 1: Schemes in Progress 2022/23|9|
**CHELMSFORD MEDICAL EDUCATION AND RESEARCH TRUST**
## **FINANCIAL STATEMENTS**
## **YEAR ENDED 5 APRIL 2023**
## **Legal and Administrative Details**
Registered Charity Name: Chelmsford Medical Education and Research Trust Charity Registration Number: 237690 Registered Address: Medical Academic Unit Broomfield Hospital Court Road Broomfield Chelmsford Essex CM1 7ET Independent Examiner: Colin Barker FCA Edmund Carr LLP 146, New London Road Chelmsford Essex CM2 0AW Bankers: Barclays Bank Plc 2 High Street Chelmsford Essex CM1 1BG
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**CHELMSFORD MEDICAL EDUCATION AND RESEARCH TRUST**
## **FINANCIAL STATEMENTS**
## **YEAR ENDED 5 APRIL 2023**
The President Trustees
Not held Dr G Clesham Dr J Guy
Dr Hywel Jones (appointed October 2022)
Chairman of the Executive Committee Dr G Clesham Member of the Medical Advisory Committee TBA Postgraduate Clinical Tutor Dr Shahirose Jessani Senior Secretary of the Chelmsford Medical Society Dr J Guy Chelmsford GP Training Hub Director Dr Sarah Crane Honorary Treasurer Carol Climie (appointed October 2022) Foundation Programme Director TBA
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**CHELMSFORD MEDICAL EDUCATION AND RESEARCH TRUST**
## **FINANCIAL STATEMENTS**
## **YEAR ENDED 5 APRIL 2023**
## **ANNUAL REPORT BY CHAIRMAN OF THE EXECUTIVE COMMITTEE 2022 - 2023**
## **Membership**
Mrs Carol Climie has taken over as the Honorary Treasurer and Dr Hywel Jones has been appointed as a Trustee.
## **Clinical Tutor**
Dr Shahirose Jessani continues to contribute to the work of this committee and we are grateful for her support.
## **Meetings in the Medical Academic Unit**
Regular courses and training meetings happen in the MAU. These include a wide range of educational events. This includes the weekly medical grand round.
A wide range of multidisciplinary clinical meetings are hosted in the centre. These include hospital and primary care group meetings.
## **CMERT activities**
A successful academic meeting was supported on the topic of infant and child nutrition with an external speaker. A joint primary and secondary meeting was held on the topic of frailty in the elderly. Further evening meetings are planned.
Awards will be made for audit projects submitted by junior medical staff early in 2023.
## **Future activities**
We plan to set up a website for the Trust. Further educational events will be supported over the next year. We have stable finances with an anticipated annual income of around £40,000 a year.
**Mr Gerald Chesham Chairman, Executive Committee May 2023**
3
**CHELMSFORD MEDICAL EDUCATION AND RESEARCH TRUST**
## **FINANCIAL STATEMENTS**
## **YEAR ENDED 5 APRIL 2023**
## **TREASURER’S REPORT**
The accounts, which comply with the requirements of Section 133(3) of the Charities Act 2011, have been prepared in accordance with receipts and payments accounting conventions. Investments are shown in the statement of assets and liabilities at cost.
The market values of the investments at the close of the last two accounting years were as follows:
||5 April 2023|5 April 2022|
|---|---|---|
||£|£|
|Charities Official Investment Fund - Income Shares|323,781
|335,023|
|Charities Aid Foundation - UK Equity Fund|211,911
|210,699|
|Equities Investment Fund – Charifund (M&G)|421,790
|449,031|
|Charities Aid Foundation – Fixed Interest Fund|160,360
|177,900|
|Total|1,117,842
|1,172,653|
The market value of the Trust’s investments decreased by £54,811 (4.7%) The COIF lost £11,242 (3.4%), the CAF UK Equity Fund gained £1,212 (0.5%), the M&G Investment lost £27,241 (6%) and the CAF Fixed Interest Fund lost £17,540 (10%)
No grants were paid again this year. A grant of £5,000 is still outstanding for 2021.
There was an increase in receipts from £37,149 to £45,146 and expenditure was minimal at £1,454.
There was a net surplus of £43,780 compared with a surplus of £36,333 the previous year.
Income in 2023/24 is anticipated to be circa £40,000.
It is the policy of the Trust to maintain a minimum cash balance of £50,000
## **Carol Climie - Honorary Treasurer**
## **April 2023**
Approved by the trustees on 5 September 2023 and signed on their behalf by:
**…………………………… Dr John Guy Trustee**
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**CHELMSFORD MEDICAL EDUCATION AND RESEARCH TRUST**
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES**
## **YEAR ENDED 5 APRIL 2023**
I report to the charity trustees on my examination of the accounts of the charity for the year ended 5 April 2023 which are set out on pages 6 to 8.
## **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 charity’s accounts carried out under section 145 of the 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**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- accounting records were not kept in respect of the charity as required by section 130 of the Act; or
- the accounts do not accord with those records
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.
……………………. **Colin Barker FCA**
Edmund Carr LLP 146 New London Road Chelmsford Essex CM2 0AW
## **11 September 2023**
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## **CHELMSFORD MEDICAL EDUCATION AND RESEARCH TRUST**
## **ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2023**
## **RECEIPTS & PAYMENTS**
|**Payments**
Grants
Examiners fees
Medical meeting support costs
Stationery
Total payments
Investment in COIF
Net receipts/(payments)|**2023**
**£**
**£**
-
-
858
474
122
1,454
-
1,454
1,454|**2023**
**£**
**£**
-
-
858
474
122
1,454
-
1,454
1,454|**2022**
**Receipts**
**£**
**£**
Interest, dividends, etc received gross
-
-
816
-
-
816
Total receipts
95,000
Maturity of 8% Treasury Stock 2021
(38,667)
57,149
Cash funds brought forward
Net transfer to investments
Other net receipts/(payments)
Cash funds carried forward|**2023**
**£**
45,234
45,234
-
45,234
49,803
-
43,780
93,583|**2022**
**£**
37,149|
|---|---|---|---|---|---|
|||||||
|||1,454|||37,149|
|||-
1,454|||20,000|
|||1,454|||57,149|
||||||88,470
(75,000)
36,333|
||||||49,803|
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## **CHELMSFORD MEDICAL EDUCATION AND RESEARCH TRUST**
## **ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2023**
## **STATEMENT OF ASSETS AND LIABILITIES**
|**Liabilities**
Accumulated Fund
General
Restricted
Physicians Travelling
Diabetic Research
Approved on:
Approved by:
|**2023**
**2022**
**Assets**
**£**
**£**
**£**
**£**
Investments at cost
872,608
829,828 Charities Official Investment Fund
CAF Balanced Growth Fund
M&G Equities Investment Fund
14,154
13,439
5,650
5,365
19,804
18,804 CAF Income Fund
Business Premium Account
CAF Platinum
CAF Gold
Community Account
892,412
848,632
**5 September 2023**
**Dr John Guy - Trustee**|**2023**
**2022**
**£**
**£**
**£**
**£**
208,629
208,629
77,000
77,000
318,200
318,200
195,000
195,000
798,829
798,829
40,189
-
40,101
-
-
-
53,394
9,702
93,583
49,803
892,412
848,632
**Carol Climie – Honorary Treasurer**|
|---|---|---|
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**CHELMSFORD MEDICAL EDUCATION AND RESEARCH TRUST**
## **NOTES TO THE ACCOUNTS**
## **YEAR ENDED 5 APRIL 2023**
## **1. Movements on Restricted Funds**
|Diabetic Research
Physicians Travelling
**Total**|**Balance at**
**6 April 2022**
**£**
5,365
13,439
18,804|**Payments**
**£**
-
-
-|**Receipts**
**£**
285
715
1,000|**Balance at**
**5 April 2023**
**£**
5,650
14,154
19,804|
|---|---|---|---|---|
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## **Research Projects and Grants**
## **Appendix 1**
|**Scheme**|**Amount &**
**date**
**funding**
**approved**|**2017/18**|**2018/19**|**2019/20**|**2020/21**|**2021/22**|**2022/23**|
|---|---|---|---|---|---|---|---|
|||**Paid**|**Paid**|**Paid**|**Paid**|**Paid**|**Paid**|
|Conference costs for the
Intensive Care Society –
State of the Art Meeting
2016 by Dr Ed Hutchison
in connection with a
written abstract on 13th
September to 27th
September 2016.|January 2017
£390|390||||||
|Dr Suthahar and Bilal
Malik Using a simulation
training to teach and train
Health Care staff as a Risk
Management Strategy to
Reduce Incidence of
Serious Incident to
improve patient safety|May 2017
£3,460|3,460||||||
|Dr Raj Hillstrom at Anglia
Ruskin University for
“Biomechanics of First
Metatarsophalangeal Joint
Osteoarthritis”|January 2018
£18,342|18,342||||||
|Warner Library -
Introducing self service
and 24/7 access to the
library|October 2018
£9,360||9,360|||||
|Medical Academic Unit
recarpeting|January 2018
£21,370|||21,300||||
|Medical Academic Unit
furniture|December
2019 £14,868|||14,868||||
|Library Refurbishment|December
2020 £20,000||||20,000|||
|Broomfield Tech Club|March 2022
£5,000|||||||
|TOTAL||£22,192|£9,360|£36,168|£20,000|£0|£0|
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