**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:
**----- Start of picture text -----**
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
**----- End of picture text -----**
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**
**----- Start of picture text -----**
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
**----- End of picture text -----**
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