**CHELMSFORD MEDICAL EDUCATION AND RESEARCH TRUST** ## **FINANCIAL STATEMENTS** **5 APRIL 2025** ## **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 2025** |**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 2024/25|9| **CHELMSFORD MEDICAL EDUCATION AND RESEARCH TRUST** ## **TRUSTEES’ ANNUAL REPORT** ## **YEAR ENDED 5 APRIL 2025** |**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:|Alex Stone FCCA| ||Edmund Carr LLP| ||146, New London Road| ||Chelmsford| ||Essex| ||CM2 0AW| |Bankers:|Barclays Bank Plc| ||2 High Street| ||Chelmsford| ||Essex| ||CM1 1BG| 1 **CHELMSFORD MEDICAL EDUCATION AND RESEARCH TRUST** ## **TRUSTEES’ ANNUAL REPORT** ## **YEAR ENDED 5 APRIL 2025** 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 2 **CHELMSFORD MEDICAL EDUCATION AND RESEARCH TRUST** ## **TRUSTEES’ ANNUAL REPORT** ## **YEAR ENDED 5 APRIL 2025** ## **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 2024 – 2025** ## **Membership** Meetings of the executive committee were held during the year attended by Dr Gerald Clesham, Dr John Guy, Mrs Carol Climie and Dr Hywel Jones. In addition, Dr Sarah Crane (Associate Medical Director for development, Clinical Leadership and Innovation Directorate, MSE ICB) has attended meetings. ## **Finances** The financial position remains healthy. Movement of funds between the bank and investment accounts was discussed and agreed by the executive committee. ## **CMERT activities** A number of Mid Essex Medical Forum evening meetings were held during the year. They were attended by hospital staff and general practitioners with the aim of encouraging a dialogue between primary and secondary care. A CMERT website is currently under construction. The response to the annual CMERT audit awards this year was disappointing. ## **Future activities** CMERT will support further educational activities next year. These will include evening Mid Essex Medical Forum meetings and a CMERT sponsored Grand Round at Broomfield Hospital. ## **Dr Gerald Clesham** ## **Chairman, Executive Committee** ## **April 2025** 3 **CHELMSFORD MEDICAL EDUCATION AND RESEARCH TRUST** ## **TRUSTEES’ ANNUAL REPORT** ## **YEAR ENDED 5 APRIL 2025** ## **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: ||5April 2025|5April 2024| |---|---|---| ||£|£| |Charities Official InvestmentFund– Income Shares|324,363|344,740| |CAF– UK Equity Fund/Fixed Interest Funds
(now CAF ESGIncome & Growth Funds)|386,531|394,968| |M&G Investment|431,781|414,086| |||| |**TOTAL**|**1,142,675**|**1,153,794 **| The market value of the Trust’s investments decreased by £11,119 (1%) The COIF lost £20,377 (5.9%), the total CAF ESG Income & Growth Funds lost £8,437 (2%), and the M&G Investment gained £17,695 (4.3%). A grant of £1,635 was awarded to Dr J Stanley for IT equipment for the tech club. This was against the outstanding Grant of £5,000 (held since 2021) The rest of the grant was cancelled. Prize money of £25 was awarded for an audit which showed good learning and outcomes. There was an increase in receipts from £43,240 to £47,184 and expenditure was £4,563. There was a net surplus of £42,621 compared with a surplus of £3,652 the previous year. Business Premium Account interest for the year was £1161. Income in 2025/26 is anticipated to be circa £46,000. It is the policy of the Trust to maintain a minimum cash balance of £50,000 in the current account and this balance was again exceeded at end of 24/25 as we were still holding back funds for our website designers. Due to no invoice being received, the excess balance was transferred to the savings account on 15[th] April 2025. ## **Carol Climie - Honorary Treasurer** ## **April 2025** Approved by the trustees on 13 November 2025 and signed on their behalf by: **Dr John Guy Trustee** 4 **CHELMSFORD MEDICAL EDUCATION AND RESEARCH TRUST** ## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES** ## **YEAR ENDED 5 APRIL 2025** I report to the charity trustees on my examination of the accounts of the charity for the year ended 5 April 2025 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. **Alex Stone FCCA** **13 November 2025** Edmund Carr LLP 146 New London Road Chelmsford Essex CM2 0AW 5 ## **CHELMSFORD MEDICAL EDUCATION AND RESEARCH TRUST** ## **ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2025** ## **RECEIPTS & PAYMENTS** |**Payments**
Grants & Prizes
Website
Examiners fees
Medical meeting support costs
Stationery
Total payments
Net receipts/(payments)|**2025**
**£**
1,660
-
936
1,911
56
4,563
42,621
47,184|**2024**
**£**
-

4,191
900
5,440
57

10,588
32,652
43,240| |---|---|---| |**Receipts**|**2025**|**2024**| |---|---|---| ||**£**|**£**| |Interest, dividends, etc received gross|47,184|43,240| |Total receipts
Cash funds brought forward
Net transfer to investments
Other net receipts/(payments)
Cash funds carried forward|47,184
47,184
126,235
-
42,621
168,856|43,240| |---|---|---| |||43,240| |||93,583
-
32,652| |||126,235| 6 ## **CHELMSFORD MEDICAL EDUCATION AND RESEARCH TRUST** ## **ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2025** ## **STATEMENT OF ASSETS AND LIABILITIES** |**Liabilities**
Accumulated Fund
General
Restricted Funds
Physicians Travelling
Diabetic Research|**2025**
**£**
**£**
945,878
15,586
6,221
21,807
967,685|**2025**
**£**
**£**
945,878
15,586
6,221
21,807
967,685|**2024**
**Assets**
**£**
**£**
Investments at cost
904,300 Charities Official Investment Fund
CAF Income & Growth Funds
M&G Equities Investment Fund
Cash at Bank
14,840
Business Premium Account
5,924
Community Account
20,764

925,064|**2025**
**£**
**£**
208,629
272,000
318,200
798,829
96,834
72,022
168,856

967,685|**2025**
**£**
**£**
208,629
272,000
318,200
798,829
96,834
72,022
168,856

967,685|**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| |---|---|---|---|---|---|---|---| |||||96,834
72,022||40,672
85,563|| ||||||||| |||967,685|||967,685||925,064| Approved on: 13 November 2025 Approved by: **Dr John Guy Trustee** 7 **CHELMSFORD MEDICAL EDUCATION AND RESEARCH TRUST** ## **NOTES TO THE ACCOUNTS** ## **YEAR ENDED 5 APRIL 2025** ## **1. Movements on Restricted Funds** |Diabetic Research
Physicians Travelling
**Total**|**Balance at**
**6 April 2024**
**£**
5,924
14,840
20,764|**Receipts**
**£**
297
746
1,043|**Payments**
**£**
-
-
-|**Balance at**
**5 April 2025**
**£**
6,221
15,586
21,807| |---|---|---|---|---| 8 ## **Research Projects and Grants** ## **Appendix 1** |**Scheme**|**Amount**
**& date**
**funding**
**approved**|**2018/19**|**2019/20**|**2020/21**|**2021/22**|**2022/23**|**2023/24**|**2024/25**| |---|---|---|---|---|---|---|---|---| |||**Paid**|**Paid**|**Paid**|**Paid**|**Paid**|**Paid**|**Paid**| |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
*£1,635 of this £5,000
has been paid towards
a new grant in July.
The remaining £3,365
has been written off in
the period, as per the
treasurer’s report.|March
2022
£5,000*
July 2024
£1,635|||||||1,635| |TOTAL||£9,360|£36,168|£20,000|£0|£0|£0|£1,635| 9