CHELMSFORD MEDICAL EDUCATION AND RESEARCH TRUST
FINANCIAL STATEMENTS
5 APRIL 2024
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 2024
| 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 2023/24 | 9 |
CHELMSFORD MEDICAL EDUCATION AND RESEARCH TRUST
TRUSTEES’ ANNUAL REPORT
YEAR ENDED 5 APRIL 2024
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: Sandra Morrell FCCA 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
TRUSTEES’ ANNUAL REPORT
YEAR ENDED 5 APRIL 2024
The President Not held Trustees Dr G Clesham Dr J Guy Dr Hywel Jones 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 Foundation Programme Director TBA
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CHELMSFORD MEDICAL EDUCATION AND RESEARCH TRUST
TRUSTEES’ ANNUAL REPORT
YEAR ENDED 5 APRIL 2024
OBJECTIVES
The Chelmsford Medical Education and Research Trust was established by a deed dated 16 September 1964. The Charity’s objects as stated in its governing document are to encourage, assist and extend academic and research activities of medical, dental and allied professions in the area of the Mid Essex Hospital NHS trust.
The trustees have had due regard to guidance published by the Charity Commission on public benefit.
ANNUAL REPORT BY CHAIRMAN OF THE EXECUTIVE COMMITTEE 2023 – 2024
Membership
Dr Yoganathan Suthahar, a consultant physician at Broomfield has joined the committee.
Clinical Tutor
Dr Shahirose Jessani continues to contribute in her role as clinical tutor.
CMERT activities
A CMERT grand round was supported with an external celebrity speaker. This meeting was very well attended excellent feedback was obtained.
A number of evening Mid Essex Medical Forum meetings have been held with the aim of encouraging dialogue between primary and secondary care services in the Chelmsford area.
Meetings in the Medical Academic Unit
The MAU is used for a wide variety of educational activities including the weekly medical grand round. In addition, a range of multidisciplinary clinical meetings are hosted in the centre.
Future activities
A CMERT website is currently being built. The trust will support further educational activities during the next year including Mid Essex Medical Forum meetings and another CMERT sponsored medical grand round.
Dr Gerald Clesham
Chairman, Executive Committee
April 2024
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CHELMSFORD MEDICAL EDUCATION AND RESEARCH TRUST
TRUSTEES’ ANNUAL REPORT
YEAR ENDED 5 APRIL 2024
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 balance sheets at cost.
The market values of the investments at the close of the last two accounting years were as follows:
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5 April 2024 5 April 2023
£ £
Charities Official Investment Fund – Income Shares 344,740 323,781
CAF– UK Equity Fund/Fixed Interest Funds 394,968 372,271
(now CAF ESG Income & Growth Funds)
M&G Investment 414,086 421,790
TOTAL 1,153,794 1,117,842
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The market value of the Trust’s investments increased by £35,952 (3.2%)
The COIF gained £20,959 (6.5%), the total CAF ESG Income & Growth Funds gained £22,697 (6.1%), and the M&G Investment lost £7,704 (1.8%).
No grants were paid again this year. A grant of £5,000 is still outstanding for 2021, this is to be revisited in 2024.
There was a decrease in receipts from £45,234 to £43,240 and expenditure was £10,588.
There was a net surplus of £32,652 compared with a surplus of £43,780 the previous year.
Business Premium Account interest for the year was £484
Income in 2024/25 is anticipated to be circa £45,000.
It is the policy of the Trust to maintain a minimum cash balance of £50,000 in the current account and this balance was exceeded at end of 23/24 as we held funds back for our website designers. The excess balance was transferred to the savings account at end Apr 24.
Carol Climie - Honorary Treasurer
April 2024
Approved by the trustees on 21 October 2024 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 2024
I report to the charity trustees on my examination of the accounts of the charity for the year ended 5 April 2024 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.
Sandra Morrell FCCA
12 November 2024
Edmund Carr LLP 146 New London Road Chelmsford Essex CM2 0AW
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CHELMSFORD MEDICAL EDUCATION AND RESEARCH TRUST
ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2024
RECEIPTS & PAYMENTS
| Payments Grants Website Examiners fees Medical meeting support costs Stationery Total payments Net receipts/(payments) |
2024 £ - 4,191 900 5,440 57 10,588 32,652 43,240 |
2023 Receipts £ - Interest, dividends, etc received gross - 858 474 122 1,454 Total receipts 43,780 45,234 Cash funds brought forward Net transfer to investments Other net receipts/(payments) Cash funds carried forward |
2024 £ 43,240 43,240 43,240 93,583 - 32,652 126,235 |
2023 £ 45,234 |
|---|---|---|---|---|
| 45,234 | ||||
| 45,234 | ||||
| 49,803 - 43,780 93,583 |
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CHELMSFORD MEDICAL EDUCATION AND RESEARCH TRUST
ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2024
STATEMENT OF ASSETS AND LIABILITIES
| Liabilities Accumulated Fund General Restricted Funds Physicians Travelling Diabetic Research |
2024 £ £ 904,300 14,840 5,924 20,764 925,064 |
2024 £ £ 904,300 14,840 5,924 20,764 925,064 |
2023 Assets £ £ Investments at cost 872,608 Charities Official Investment Fund CAF Income & Growth Funds M&G Equities Investment Fund Cash at Bank 14,154 Business Premium Account 5,650 Community Account 19,804 892,412 |
2024 £ £ 208,629 272,000 318,200 798,829 40,672 85,563 126,235 925,064 |
2024 £ £ 208,629 272,000 318,200 798,829 40,672 85,563 126,235 925,064 |
2023 £ £ 208,629 272,000 318,200 798,829 40,189 53,394 93,583 892,412 |
2023 £ £ 208,629 272,000 318,200 798,829 40,189 53,394 93,583 892,412 |
|---|---|---|---|---|---|---|---|
| 40,672 85,563 |
40,189 53,394 |
||||||
| 925,064 | 925,064 | 892,412 |
Approved on: 21 October 2024 Approved by: Dr John Guy Trustee
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CHELMSFORD MEDICAL EDUCATION AND RESEARCH TRUST
NOTES TO THE ACCOUNTS
YEAR ENDED 5 APRIL 2024
1. Movements on Restricted Funds
| Diabetic Research Physicians Travelling Total |
Balance at 6 April 2023 £ 5,650 14,154 19,804 |
Receipts £ 274 686 960 |
Payments £ - - - |
Balance at 5 April 2024 £ 5,924 14,840 20,764 |
|---|---|---|---|---|
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Appendix 1
Research Projects and Grants
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Scheme Amount 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24
& date Paid Paid Paid Paid Paid Paid Paid
funding
approved
Conference costs for January 390
the Intensive Care 2017 £390
Society – State of the
Art Meeting 2016 by
Dr Ed Hutchison in
connection with a
written abstract on
13th September to 27th
September 2016.
Dr Suthahar and Bilal May 2017 3,460
Malik Using a £3,460
simulation training to
teach and train Health
Care staff as a Risk
Management Strategy
to Reduce Incidence of
Serious Incident to
improve patient safety
Dr Raj Hillstrom at January 18,342
Anglia Ruskin 2018
University for £18,342
“Biomechanics of First
Metatarsophalangeal
Joint Osteoarthritis”
Warner Library - October 9,360
Introducing self service 2018
and 24/7 access to the £9,360
library
Medical Academic January 21,300
Unit recarpeting 2018
£21,370
Medical Academic December 14,868
Unit furniture 2019
£14,868
Library Refurbishment December 20,000
2020
£20,000
Broomfield Tech Club March
2022
£5,000
TOTAL £22,192 £9,360 £36,168 £20,000 £0 £0 £0
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