RECISTERED CHARrrY NUMBER: 244559 Report of the Trnstees and Finan¢Bal . ¢aLments for the Year Ended 31st March 2024 for (.-hiiliester Medieal du¢8tion Centre Slieen Sti¢klind Chaietej AB¢oL'lltaThts 7 5t Pallaig t Chichester West Susse P019 ITr
Chichest¢r Medi£al Educ2tion C¢ntre Conients of Éhe fEnancial StxtemeFEts for the Ye2r Ended 31st March 2024 Page Report ol'the Trustees llndevendtnt Ex&miFJer's Report StAttLtnent o.f FIatI&l Aetiiiaties IBalsee Sheet otc) to Éhe Fin2ncial St27em¢nts 8 to 19 Detailed Ststcmet of FI£1a1 Activitri3S 20 to 21
Chichester Me4lic#l Ediitation Cer,tt Repoi't of the Trustees ror the Year Ended 3151 Lvllareh 2074 rh¢ Irustees prcseni theii report Trvit'i tl-,- financial statements Dr the charity for the year ended 31st Marcli 2024. Tl)e '.ru4ite5 have adopled tlic provisithr.< of A¢vounting gnd Reporting by Charities.. Staterntnt of Recommended Prdcti pplicable IO Lliarities pr=paEing thknTrf 31 coiints in accordance the Financial li¢portiThg Standard applicable in tlie ano Republic of TFelaid IFRS I O-.} I...FFective l January 20191. SBJECTtVES Al ACTivrrtE .?bject3ves aTad aim5 Tle pncIpal activi¢y of tlit Charity -0111:inues to bE that of pi'ovtdimg a Post Graduatt Medical Ce#tre for prornoting Ind adTrancing, by way of researcli, l-.cll res and discussion4 tiKC Study general knowledge of medicitie and scierce ind all Jnatters relating to the progreis ond developmen* of all branches of medicine, surgery, deutisty and veterinary ".i?¢dicii?< !QF the betsefit of rnankin('. 9.51y. i o fiLlfii its Objective& tlie Charily woi'<s closely Univerbity Hospital$ Sussex NHS Foundation Trust which Is hesponsiblc For tlie running ofst R&ck.grd-. HJspital, Chitliestei.. ,¥CHIEVEMENf AND PERFOR]¥'IAI.Jcr harit2blt 2£tiNities lie tlllSt¢es acliteved their edu¢?tioLial "artrets foi 2023124 8s documented in the HEKSS Quality mall1 and the .-ducalional Strategy for 202312£! in line a4-h HEKSS r:quireiients. This irjcludes th¢ PTovision of accommodation for Inedical studerits. In addi120u, f8cilitSCS Oi, bc'.th space and equipment are provided for qualified medical practitioners in i)rder lo fiilfIl ilieir ¢ducation312Tr& profe--bional responsil)iliiie%. 5illNAN,vlAL REVIEIV -he Ch<irilv iisseis fall into tlitte m4'i, Ca.gentS..- Loiig LE2sehold Prop¢rty being Ellil..2ings, Fixtures and Equipment of the Education Centre InV$tlents comprising a fOTt.'olio of illve<trrtCDts and two fr¢ehold propertteg providtng student aLconwLOdaiio. Casn held ID CUllEi7.t 8.nd savings &cc.?un;s ,'he ttteS hav¢ carried out aTh TThpa.,Tr'.i)c review of t.he fteelTrold buildings. No iten)s were raised that would Ffsult in ciiminution in tjie value of tlie propcrLies.
Chichester Medi¢45 Education Centr¢ Reps?rt of the Trustees for ¢he Year Ended 31$t Ma) eb 2024 FIN,.INCIAL REVIEW lllveitment% Tlie .rustees have 1uII uriltstricted PDwer% of nvcsknenL Th¢ ??olicv of the irnstee£ is to invest sJiiluc in a rangt of 0]l¢CliVE inwes17nents. which are designed to provide a balai".c¢ of incoTrt aiid capitsl growth. TP.e tl-,'..SEces' policy is to moir.,tain iOme whi15t preserving the real value of the erdowed sets. Investsnents are n1aiiaqed thr(iutsh tlie ap)OillieG investment matots¢1, who has the discretion to mabage the porttolio witP..",n an atsreed risk PiDfilc. Total InVe¢n¢Tr.ls 2nd per¢¢nts¥e allocstions are indi¢ated b¢Eow. 23i3-'.024 £ j ?(1.'.686 2022-2023 £1224,784 6.7 /0 78.5/ 14.80/0 iVC.ittnent8 -ixed I(CSt Securities UK'tyotcd Shares Other (in¢luth"bg-_&sh} Invextrnetit ijerfoiinante ryorts are prot.ucLd for eacb meetithg by th¢ invESttu¢nt rnaDagers. The investnient policy dii-ecLEves ar." ieviewed annua51y. IE)VC%tnient income re¢¢ived ifj the fin&,I,=iJl year was £28,LI48 {20I3-. £15,818) representing a yield ot 2.0 / [20.. 1.9 /, l on tht averno¢ value of inve5tmeF_tf dE': DuriAlO tli= ve&r tiital gains o,"1 fixcd iiS4CL ir.ve<ÉmeDts amoiinted to £119,553 (2023.. £2,611) whÉch v/as made up as l.eal i%Ed losR of £L.59C) (2023.. gaims ol £1 ÉA91 and unreali.4ed gaill of £122,14912023.. £9611). Unrealised .oains iftvcKimcnt propertle5 amountcd to £170.f?I ri t1 year. Rtv.l.il incopie fov the year on the investn':rti )ropetties $ i69,23512023.. £67.218). Rese.Iwes policy Tlie ,-IusleeF h<1ve reviewed the Charity r.eos for the r¢seDK< in line with the gutdance issuvd by tbe Chatity Coiil IITSSTOf. Tl",e tTrstees coiisidei. tLit <ln &ie0ate level oi Le5erJes for the Charity to maintaitt should equ&te to at lea%1 two yeic ts WQJlh of exditUre. I liotsg.) the trustees ceAsidri that the illv¢sED]eut5 aud bank balancpA held in tb¢ uitreEirictcd fund aTJ greater than are req,SteC for the curent i',eeds, tliey Consider that tbcy will bc rcquircd if thric IS to be tD*her dtvelopmtnt of the Charity's a=.. Fgnaicial results The iiet movemell,. in unrestr..¢t¢d fvnd< w&, an in¢r¢as¢ of £549.815 Q023.. £36,361), afi¢r gains on invesknents.of £j7.111612023..10%5e% of £2.OG'81 and ¥dii,- or in%xcsttnent pro-JertieE of £170.204 (2023: £tiil}. Tre Ii¢t n20i'ement in resth¢ted fvnds i¥¢E ai) increase of £9i.6261?eJ23.. £8,296) afier gains on investments of £81,637 1202-, £4.6191. Bebbia SmithEf% 18 the Medical Edu¢atioJi DI. antsger and is fanded by the KSS Deallery and employed by Universty Ho%iilt&ls NI-IS trOLind%tion TrJst. Chitlies-er ,rfedscal EducalÈon CEIA Ire has no employees. FUTURE PLANS Tlie ,NstctÈ keep tlie role of tlie CF¥aiilv 'ind Èts activities under Cowtant revi¢w with all activity and potentsal dcvc opmcnts of tltre Chi¢hcst¢i Medxf31 pdii(-L..tF()n C¢ntrc being d?%vuss¢d attlie quarterlylrustee coTnTnittec rneetings. PagE 2
Chichester Medical EdCatiOn Cetre
Report of the Trustees
for the Year ded 3Xst M4rch 20?4
,)TRUCTURE, GQVERNANCE.IND M4NAGEMENT
overThkng document
The Charity was establislied undcr i D.ed of Tnt aated 24 August 1965 for the establishment of a Post-Grdduate
Vcdica,. Ctntre at Cbiche5tei'. Und¢i' Llic erns of the agreement wih the Health Authority, dated 14 February 1967, tlie
uthoritv agrees tD iTratnlain the propert and thc trustee5 a 99 ye&r leas¢.
Publoc F)enefit
The Cliarity provid¢s a Fyitdi(xl Cejnire f.jr promottng and advan¢ift& ihe sdY al general knowledge of mediune aThd
.it3ence and all matterg r-latins lo t51= F Il)g$S and developyi .ClTrt of all branches of rned1c1e, surgery, denti5ty and
veterinary medieiT)¢. for tle beTrefit g-, niLLDkiDd generally.
"rile tiwste¢s have bad du- regard to ,_lie Charity Comui°¥sion's 17]deli¢S on public benefit and are of tbe opinivD that
he CilitTIty complies in respects.
Recruitment, appoiRtEnent. indu£l'i4thll l.tnd trainig of new trste¢S
'rhe Cliarriiy Es mana(T¢d by a board OL inltyrtecs. wliicb. cU¢nY comprises ten truste¢s. Olle is appointed to be tIie
É-liainn
ChDthester M¢dic&l Edu¢4tion Centre ReTrort of tthe Trustees for ,:he Yethr Ended 31st Mareh 2024 EI4ER£NCE AND ADMINISTIUTJVE DETAILS I,>Penet EAmiTrer Pa'il Wrighi FCA DChA Slie'n Siickland cp..&1ed Accoun¥nts 7 E¢.St Pall%nt Chiihes:eF Welt Sussex P019 ITR InwLstmen¢ Advistrs Wi( Tr"ertoJi bivestment M2aent Ltd 16 Eabmats Strect LoiiJon SW.Y6A Rail-.bones inveslTntnl man&geerjt Lto l Ni)rLhg<it= Cliicl?esler POI9 IAT Bapt.',i¢rs Llo}ds TSB BaFLk glc 10 E&t Sirect ChiLiiesler WCE Su%<tx POI.P IH.T Apyfrioved bv ordei. of the boai d of trnsiee.% OF 5igtLed on its bebalf by= cl)nston
ldependent ExaMigr,5 Report tli¥.. Tiwste¢5 of Chicbester edICal Education C¢r¥Ére Indep¢ndeAt eXaltr,$ report to I,'kne lrnstees of Chichester Medical Education Centre I IEPOrt to the charity sLee$ on mx, eiarL'.llation of Lli= accouAts of Chichester Medical Education Centre (tht Trust} loi- tk.-c ve21. eiid¢d 31 st Nlliaicli 2024. ResponsiblE1nes and b2sis of repowt * Ilie charity ttustccf of the Trusi yosj aJE responsib.'e for Ilie preparation of the accounts in accordance Ivith the "cqutremeF+15 of the Cliarili¢s Act 2fl": l ( Lhe Act). I reporL in respect of my examinahjll o.. th- Trust's acCots carried out tr Sectioll 145 of thB AGt and it) tarrying .Jut iii). examiiiation I haFc followed ill <.'W)Iicable DeCl10T1$ (TlWtn by the Charity Con]mission under Section 145(5}(b} of the Act. Jjlldepertdent exatuiner's staten]tnt bince YOUE charity's gross iiicomc eXCE.jed £250,000 YOUE examiner must be a member of a listed body. I can Lonfirm Ibat l qualtfied to undeKtake tlTr¢ -xa'.nillation becallse l arn a nEmber of the Instithte of Chartered ACCOtantS in "Trol8nd and Wale& wbich is one of t:,ie li.ited bodies. hav¢ coiknpl¢t¢d my Exa',nin81ion. xamincitiox ¥iving rn¢ Gau5e to b¢li. -.rw Ihat no matn2[ nalte¥s have come to my attention in c(}nDtion witli the e ( iat In iY rnate*al resPCCt'. accountiiiry records were not kcpt in iespect of tlie Trust as required by Sectictn 130 of the ACL or the accounts do not accord Th'iih tl":ose records= or -. li¢ a¢counts do not Comtjly tt., the 3pplicablc ieqLiireiYents concerning the httn aod ¢onteDt of awountS Sct t)vt Lht Cli8riiie.8 (AcconC< ?11 R R=ports) Rwilation5 2008 other than 3lly requirement that the accoullt5 qve I true and fair VIEW. which Es rot É mÉ2tter COTJsidei'ed as pit fi of an independ¢nt examillation. S liavc iio ¢ortcerns and hov¢ come a¢•.%:' iio otbtr matters in CGnnection with the examination to which attention should lit Orawn iii Iliis report Ill 9rder to eM2bic & pi-oper undErsia1dinE of the accout2ts to be reached. 1.aul Nrfrigbt FCA DCI <lieen Soick5aTrd C'haTlercd Accountants 7 Eaqt P&llanl ('hich-si¢r Vest Sussex F.019 ITR Date.. P28e 5
Chithester Medical Educatifj Centre StAt,:ment of Flnantial Activities for the Year Eded 31st March 2024 2024 Total fimds U.,2iestrieLed funds Restricted £Ld3 lfjotes INC.DME AND El101vFNTs FP,OM DO&,tIonS aid l¢ga¢ies ?92.8Q.7 292.803 250 Cha""'itable actiwtie5 MerJ".tal -£tre 75,561 75,561 47,260 Inve.4tment incoir¢ 28.357 100.238 Totol 440,245 28.357 13 1.573 EXPCI NDITURE ON Rais."iig fi3llCS 6,512 6,512 Cha-, Itgble gctivi&es MeLI.,c21 ¢wnirc 98.370 9.856 108 226 Tottsl Nei gains on inveg.menis UnrciljsI cains investmer..t propetties 37,916 170024 81.637 119,553 170024 NET INCOVE 549.815 93,626 643,441 RECONCELIATYON op, *DNbs Totsl funds broll2lit fonvard 3.i06,973 387.218 3,694,191 3,649,534 TOT.4L FUNDS CARIUED FORWl¥RJ 3,856,788 4 337.632 3 69a 191 The iot-5 fitrn part of thesc fiTJancial statements Page 6
Cbiche5t¢i' TrledÉcal Edu¢atign ceti.¢ Balance Slieet 3A¢t Th'y%reh £024 ?024 Total 2023 Total fallds UDtesUTGied Rtstiicted fioS Note5 IXED ASSJLTS Taiigible assels E..i44,949 1,344S49 1,394,553 vesoents iiivesÈLuerit pi'operty 10 1,020,500 1,363.686 628 976 1.224.784 628.976 .?.164,4J.9 343.186 3,507.6)5 3248,31? CbTrRENTT ASSETS Deblors" CJsFi ai bll( 12 30,539 81] 329 673,671 137.658 704.4lQ 137.658 841,868 462.466 CREDITORS Atyoullts lalbiig due wilbdu Dll¢ year 13 {11.871) (16.588). NET CURBENT ASS.ETS 69? ?19 137,658 829,997 TOTAL ASSETS LESS CURREN-. LLl3lTIEs 3,856. 188 480,844 4377.632 3,694,191 ET AtsSETS' i,856.78S 480.844 4,337,632 3 694.191 FIJNDS 14 ure511.¥ettd fiinds ResiilLied fviidr 3.856.788 480,844 3.306973 387218 TOTkn FUNDS 4 337.6.82 3 $94 191 rhe fi iitiol 5taltmen15 were tppr!Trt.d by the Botr of Trustees and atr15¢d for iswe o . tnd 4iOTK'd Tts beb8Ifb-,: I-Iart TrLiSt:e 'r= tsot... fotmpart of thse fiaancI8I stttements PagE 7
Ch4£hester Medital Edlleation Ctntre N(kts.s to Éhe FIaClaS Statements for tilie Yexr Ellded 31st Mareb 2024 ACCOUNTING POLICIES B85is of prepring the .'4ts1 Thc Jinaiicial statements of the clJarit:J, Ivhich is a publi¢ bei7 efit entity utsder FRS 102. have been prepared i accordanrc with the Chariueq SOF.P IFRS 102) 'AccountiDg and Reportsng by Chuities-. Statement of RecotnTnexded Pra¢tiLe alIca).'- Èo ¢barities PTei?2ring thtIr accouTJts in accordattce with the Finan¢ial Rep¢rting Stsndard applicable iri tli.. and Republic of Jreland IFRS 102) (eff¢ctive l January 2019),: F,'nai]cia1 Reporting qiandard 10£ e FinaTEcial RcportiD.g Standard applicable ill the UK and Republic of Ireland, and the Charities Act 2011. Tlie financial stat8,,]ts have been prepared under the historical ¢ost co4veution. with tke exception ts£ nvestments wliich are included at nwket value. as modified by the revaluation of certairy ¢55¢tS. FinaTrcial reportlDg $ÈaJ)dard 10? _ Tr"driced distlosure exe6llptions The ¢barity has taken adv8ntag- - cf tl.. ft>lloMqnEp disclosu exemption in Preparing these financial Stateett as oerniittcd by FRS 102 '1]ie Cl il Reporting Standard applicable in the UKand Republic of Ire]d,. the requirements orS¢ZOn 7 Sts'"ment of Ca5b FIotsTS. In£oJrylt inCQTne is recognised in the str'tetr£mL of Fillanciai Actiwities once the chaTity has entitleTnent to tbe funds,. it is probablt that the inciFne will b¢ Tc"ived 3nd the 21-.1011nt be measuffd reliably. Expend8tre L"'abilities are recognised as expe".IdiilJE as soon as there 18 a legal or cODstnt1v¢ obligation conmiitting the cl¥aiity to tiTral expendire, it prryba?Ic tliat a transf=r of cconomtc bett¢fits will be required in settlement a)d tlit aEfLoiirt of th¢ obligation can x Tn.a5ured rdiably. Ex'¢)eooiture Is accouDted for on an accruals basis and ha5 b¢cD classified under !?eadtngs t,,( a !gr¥gate all cost to the category. I4qkere costs cannot be directly attiibuted to parhcular hExdings tne} have been allocat¢d to arfiMties oll a basis consistent with the llse Df t¢{PL rces. Govcrnance costs Comprises +he costs of govemance nent5, which r¢late to the genernl nming of tht Cbarity. Tatsgible fixed assets Depreciatiort Is provided at the foiioM"¥n¢r annual tates En order to write off each asset over its ¢stinTrted u5etil Lotig le&sehold Fixtutts and filting5 Dei?lal equipment Coifryutcr alld office eciuipment in a¢¢ordaD¢t wryth tbe le IOQ/ts ofL CQSI IOO/y ofk ¢OSt 25% cost An *ty)uol iiDpaiThncnt YL Yiew ai6 Jsc."ul ¢conoTrkE¢ lif6 revlbTr-. undertaknjk Buildings are maintained in g(yod repaii- and it Is coosÈder-d thal iEsi(É ai values are such that dyl)re¢iation is correctly chargerL A&pet% purcliased or doTiated with e ¢o,- o-. value ex¢eedirLts £500 arc capitali5ed. The long Icasehold pronerty repres-nt." t1) Medical Cetstre ukd by the ch]ty Ill its chItable actiTrryties.,Thère j5 a 99 year lease in plèce that cotrLieF £1] on 14 Febrnry 1967 2nd no rent is ¢harge(L Uni'estment pTopertiES Inv=stmeni oroperties 8]? in¢lu6¢d pn 4kJe 'ialance heet at thc'.r fair value. All inveslmeDtproperties are freehold properties Ind are not 51ibject to ali ani".ual depreciatioD charge. contioued...
Chichestei- Illtdical E¢iucation Centr.: Notes to the FSnnrtal StateThets - ei3T]tinued for the Year li ded 31st L¥Iarch 24Za ACCOUNfiNG POLlCtES-..oritillued Investment proF)ertie5 Listed iTrve$tments TTJVCStm£Dts ait btated at rDar£<=. value at the balance sF2t¢È date. The Statement of Financial Activities includes tlie Yet gains an losse5 2r":s.r.CP revaluation4 aisposals tbroughouÉ the y¥dr. Giins and losses arising o restricted investments are allo¢a,'ed lo the indiw£dual restricted fimd5 basedupon tbe average fimd balatt¢Ls. Taxation Tl..e Chftrityl is exempt frok11 o.ire't tsxatitsn on it5 ¢haritable activities. UD.rcstricted fund.% ¢an be LÈtd i? aCOrdanCe w"h the GlIAritable objectives atthe discretion of tb¢ tsustees. Restricted fund Rcstrcted funds &r¢ maiTLtaiitcd lor each specialcst ]Ese4rch project and training prOanle where monies are received foi tliat purpose OT.ly. Sq)arate records are rr.aTntsined for cach fund A detailed Breakdow of tlye restrcied funds 18 shown ura>-: I'.iTrte 14 to the fiyancE21 *_&t¢m¢nts. DONATIONS AND LECtSlielE. 2024 2023 Doiiatioiis JndcF¥taduaie accoimt incofj-.¢ 291.378 250 292 803 250 .INVEtsTiWENT SJ¥COME 2024 2023 .£¢iiL< 5eceivable invcstlii¢nt iiicome gan1< Intcrcsl rcceivabl¢ 69,235 28,048 2.955 PaEe 9 ¢ontinutd...
Ch-:che$ter Medical Education C¢tre i ole$ to the FinarAcl•l Ststerntnts- ttiBlie the Tr'ear Eed 31st Mthrch 2D24 INCOME FROM CHAIUTABLE 4CTIVITIES 2024 Medical centre 2023 a¢tiviti¢S R¢nt Out of l)ours supenjisor 75,561 47,132 128 75.561 47.260 114ESJNG FUNDS ETrve5tmeTrt rnanagemellt costs 2024 2023 P•i'iFolio Enanagement CHARITABLE ACF"UVITIES C.OITS Support costs (see note 71 Direct Costs M¢ai¢al centre 98.190 108.226 SUTrPORTr' COSTS Gov¢EIMiiee ¢osts Medical ceiitie Go.¢TnajlCe c05ts ii)¢l,. aes Jndcp". - 2de'it ExaTninat70n f&s of ¢3.600. TRliSTEI ES, R£MUNERATION A BENEFifi TheE¥ HTcr¢ no tru5tees' remunei?tio.- or other benefits for the yvdr ended 31st M?h 2024 nor for the year eiid&4 31 51 March £02-. Tru5tees' expenses Tlicic wcre no 3 l&t IMar¢h 2023. truftees, exper)se¢ paEd fo¥ the year crded 31stMarch2024 nor for the yeer ended Page 10 Continued...
Chich¢ster Medieal EdcatIon C¢ntre Not¢5 ¢0 the FinJDci%l Statements- eo-7tinued for the Y¢w Ended 315* March 2024 TANGIBLE FIX'ED AssErs Computer alld office equTpmcnt Fi.xtures Long Ic25ehold Dental equipment filt5ngs COST At I st April 202) and 31 st March 20?4 2.501930 226.722 39.294 2,810.720 DEPRECIATION .4t l st April 20?3 Charge for year 151,153 4d.,667 182.946 39.294 42,774 1,416,167 49.604 At 31 si Marcli 2024 ,195.820 181.883 39,294 42,774 1465.771 I ET BOOK VALUE t 3 Isi fv(arch 2024 1,306.110 38.8'39 1.344.949 At 31 li March 20,3 1350777 4i,776 1394,553 FIXED ASSET INI VESTMENTS Casb held as part Listed inve$tsntnts portfolio IIIARKET VALUE }11 l %t,4pril 2023 Additlons Disposals Revalualioris 1,173.550 68.562 (45.696) 51.234 68,962 175.075) 1,224,784 137.524 1120,7711 122,.149 Ai Jist Mai'ch 2024 1.318.565 45,121 1.363 686 NET BOOK VAL lit 3 Isi March 2024 1318,565 45.121 1,363,686 At 3 1st March 2023 1,173 550 51.234 1224.784 There were Ho invtsimeiit &g<e%5 0 the UL c.ost or Valuatio aL 3151 Mar=l1 2r24 Is represent=d by= Cash bem as part Listed inYesth)ents portfolio Valuatioii in 2023 CDSI 1.318.565 1,318,565 1,318.565 45.121 1 $63,686 Paoell
ChT¢he5ter M¢dieal Education CenÉr ote5 to the Fpn2n¢fal Stat¢n]ents- co}tie foT the Year 31st 7larch 2024 io. FIXED ASSET INVESTMENTS- ¢ontiDued AIISTQRTC COST At ", 1st March 2024 £1,197 432 At I 1st MaKh 2(k23 nvestments that are iiidividuall}. Enai:ri?l lthIll-e investsnentportfolio aJE detailed as follows.. 2023 2024 Bankers Investment Trust Pictei Funds (Lux} Gbi EnviroiTr< gpr..r J Acc S¢ottisJi Mo',tg2ge luilcstmtni T:liSt Fundsm'.th LLP Equity I Inc 61,000 66,104 68,076 79.433 67,>30 77.707 IPVESTMENT PRGPERTY FAIR VA&.UE At 5 qt Apiil 2023 Revaluaiion 628.976 Ai 31 st Maich 2024 799,000 NFT B()OK VALU Ai J. St Mai'ch 2024 AE 3-. 5t IMitrlJ 2021 628,976 HFSTORIC COST At 3 i st Marcli 2024 476.47 At 3 1 st Marcli 2023 476,47V . The iiivcstment woperties were l¢SI fo-.rn&lly revalued in 201 I The trnstees consider thatth¢se va]uations do not Irpre5enl curreiit fair value and tl-:eTfi)r¢ Lliey have cayied an infoThnal v&luation using an averag¢ of OTJine V8lues as at 31 Mareh 2024 and t.?: Feiulltng ullrealistd gaill of £170.024 has been Tecogxiised in these financial 8taieryeF5t 12. DEBTORS: AMOUNTS FALLIttyG DI E wrrHIN ONE ?EAR 2024 2023 OtlieF debtors PrepayEnent% aiid a¢cru-d incom¢ 21.872 8,667 35.697 30.539 P&ge 12 ¢Ohtinuei..
Chichester Medical Edc4tion Ctiitr Notes tts the FÈnancial Statement$~ co)1?ed for the Year Ended 31st marc 2024 13. CREDITORS: AMOUNT) F.41.LG DUE 14qTHEN ONE YEAR 2024 2023 Other crediiors Accrual and defcffed inco*i 7,969 4,899 14. MOVCMENT IN FUNDS Net movement in fi]nds At At 1.4.23 Unrestrlltted funds D¢%%gtEated- EndoibThent fuiii. J¢$1gated- Undcrgwiuate fil0 3.278,777 28.196 548,390 3,827,167 ,.£estricted funds Astilma Day Ceiitre 3.306,973 549.815 3:856,:788 6.330 25,941 3.847 1,530 6,270 930 MFU Jrolots" RAP Scott ResearLh Robcrt Hawkins 8urg'.C¢?I IAascaSai C oloTCCtal C,haritics fimds AJJeL'rysm Simsor, 14,679 195.282 15.687 20.835 13,444 9,331 3,548 47,203 3,792 5,036 3,250 2,255 19.635 77 100 242N85 11,586 100,746 316 415 387.218 TOTAL FUND 3 694.191 643.441 4,337,632 Page 13 eontinued...
Chichester Mcdi£al Educatioll CeNtre NoQos to FInaClaI StateIeI$- contii nEyed foT the Year Ended 315t M2rcb 2024 14. NJOVEMENT IN FUM)S- eontiEti.É,d N¢t 5novemeiit in funds. tllcluded"n til lbott ar¢ as I"ollows'. 117¢0mints reiources Regollrces expended Gains and losses Movetnent ". ii) funds urtr5cted fund5 Desigiiate4 - Endowm-nt fLllEd Dcsignate¢ - under8r&dite 4_18.820 1.425 (98,370) 207,940 548,390 1.425 440,245 (98,370) 207,940 549,815 Restricted fDJnd5 Astliina Day Centre D£2rrLn 462 1,897 282 (267) (1,096) (163) 1.335 5,469 811 6.270 930 MFLI LTrDlogy 1.074 4,287 1,149 1,524 984 682 5.962 2? 1621) (8,255) 1664) (881) (568) (394) (3.428) (131 181 3,095 41,171 3,307 4,393 2.834 1,967 17,101 67 87 RAP ScofL %esearch Robcrt kawkin.% 47,203 3,792 Vascular Colcrecla Cliaritie* ADeiiry51n Siin%on 3,250 19,635 77 loo 18.357 116,368 93,626 TOI'AL FUNDS 468 602 114.738 289 577 643.441 Page 14 continued..
Chpehe$ter Medical Education Centr._ i ot¢s to the Finaneial Statements- ciJu6nued foT the Year Ended 31st Mareh ?Q24 14. MOIIEMEIIT JN FUNDS - ¢0-:,tined ComGpzrative.s for 0ven=,}L 1,.1 [ndS Net movement in funds At 1.4.22 Uiirestricied fund$ Dcsimafed- Ei)6owment fi)J=,d Dcsignaied - Unoergradu&te .Nn.,I 3,242,666 27,946 36.111 250 3,278,777 28.196 Restrie¢ed funds Asiknra Day Ccntre Dartci 3,270,612 36,361 3,306,973 6,318 25.891 3,840 12 50 Urology L4P Scatt Re%eatrh Robert I-lawl<iFTrS .Sui'gical Vascii&ar oloit¢tal ChaTvlies fiuid5 .Aneurvsm 8ims0'.1 14,651 194,909 15,657 20,795 13,419 9.313 73.399 316 414 28 373 30 9S,28? 20.835 25 18 7,712 9,331 378.922 96 387218 'fO7A L FUNDS 3 649.534 3 694.191 15 continutd...
Chp.£lae5ter Medical Education Centr- Noses to the FFnanci&t Statsments cOFftiTr¢d the Year Ended 315t Illlgreh 2024 MOVEMENT ILN FUL¥DS- cor.¢Én &ed Compai?tive net Tnovcmeni in fJ.Ids. Included irh th¢ above Lre as follows.. Incomi rtsoJrces RoUrceS expellded Gains and losses MoveTnerit in funds Unrestritted ftsnds Delgnated- EnLfjowrnen¢ fuTrd Design8t¢d- Undergrnduate fvnd 114.478 250 176,359) (2,008} 36.111 25? 114,728 Restricted Asthmrfl Day Celi Darie (76,359) (2,0081 36,361 28:, 1,150 1219) (899) {134) (50) (201) (30) 12 MFU tirology RAP Scott Regearch Rob=rt H wkiTh% Siii'gical V<l5clllai' C<iioYedal Cliciitlc fiind. Aiieiirysin STni%on (509} (6,772) (544) (723) 14671 1324) (2,551) 112) 141 (114) (1,519) (1221 (162) (104) (73) 6,999 (2) 8,664 696 925 596 415 373 30 25 18 14 18 16,845 (13,168 4,619 8,296 TOTAL FUNDS Jl.57J (89 527 2,611 Pagt 16 contihued.:
Chf¢hest¢r Medical duc2tion vetFf Notcs to rhe Ftinancial &it8ternekts- ci.ntFMued for ihe Year Ehded 31st Ikl¥rch 2O24 14. MOVEMEE*lT FUNDS - CEk"Trtirged A cvrj eiii yeai. 1£ montlis ,.(1 pi. or year 12 n]onlhs cotTrbi_4ed position 15 as follows-. Net mov•rJent in fvnds At 1.422 U])restricted funds Desigiiated- Endowmcnt DesTITnated - U¥Jdcr.orndTrEate 4unc. 3.241666 584,501 3,827.167 RestrÈ¢ted funqfjs Astjllna Day Ccntre 3,270.612 586,176 3.856.788 6.318 25.891 3,840 1.542 6.320 937 TFLI Urology RAP knqcott Research Kol)ert l-lawkins Sui'oical vcular olorectil Lh21'£tits fiuids .4nciiivsi %imgoFJ 14,651 194.909 15,657 20,795 13,419 9.313 73.399 316 414 3,576 47,576 3,822 5.076 242.485 2,273 27,347 77 101 TOYAL FUI 3 649,534 688,098 4.337.632 Pag= Continued...
Chu=liester Medicxl Education Cetre Nts¢' s to Ihe Fina¢]41 stateients- ¢ttTr.ti"e for I',he Yesr Eed 31st M¥,reh 2024 J4. I0VEMENT EN FUNDS- CO11.td A currenl Jtar 12 moiiihs and pri'tsr }'.=ar 12 months combined nÈt mov¢metrt in funds. in¢luded in the above are as follows.. Incoming rLsource Resources expended Gains and losses Nlov¢mettt in fund5 Urthrestri¢ted full]ds D£s:.gnateé - Endowm¢Dt fid Dcsigt)aied- Undergnduate Fdnti 553.298 1,675 (174,729) 205.932 584,501 5)4,973 (174,729) 205,932 586,176 R¢stri¢ted rlld5 A.t1m8 D8y Centrc D¢117 (486) (1.9951 (2971 1.285 5,268 781 3.Q47 453 MFir U!Dio 1,725 {1,130) {15,0271 (1.208) (1,604) 11,035) (718) {5,979) {251 32) 2,981 39,652 3,185 4,231 2,730 1,894 24,100 65 84 3.576 47.576 3,822 RAP Scott Research Robcrt l-1¢2'Mk'ii)s 1,845 2,449 1.580 1,097 9,226 37 49 is¢ular ColoiECtai Cl,.ai-jti¢R fLiiids A Tici irysm 2273 Ioi Ls5,202 101,922 TOI'AL FUNDS 6110 175 1204.265) 292,188 688.098 Unrestrieted Funds The vNqEC Endowmeiit Fuiid lunrcsli Ict hnd5} GQinpriscs ofrentsl from me¢titig room bookings, equipment hirc. aLnual r¢nal for-,oo>ms ocCJje[ b} ext¢rnal ¢li¢nts and edu¢ationat gr8llts_ The EndowFnent Fund eD8ures that :.b¢ faiiric of the building 2S illc Ilitained alld th&t it is equipped and insured appropriately. The CMEC Eno}en.. Fund bas Ao emplOJct Tlie Endowrowli t Fthid a150 Owns two r¢sidential hollses itt Chichester wliich aiE l¢t out to Tredical studer.ts Elk d managed by=MEC SLaff. The Underg]%dllate Fund {unreslri¢. i fL'.nd) holds fvnding for medical student edUltio The majority of this fiEnd2rg goes directly Univtt'sEty F.o$pila15 Sussex NHS FoLdatiOn TTrst but a small retainer is held by the U1)dcioIlate Fuyjé, Lnder ihe cd, trci ofthe UnderdUate futor who sits ollthe CMEC trustees cOn)nttee. Restricted Funds Tlic Postg170uate MediG41 Chariij¢p {',- -hi-liester} compFÈses cf sevErat funds managed by lead conyultattts frorn do¥laLiOJiS £Trven for Trdocationa5 utc. è. il lwjd hold¢rs &i'e aware that tbis can only be frorD donations aud oot foT aiiy !erb'ic&% provided_ ExpendÈivfe ig Jpprovea by a CMEC i-: ust¢e and 15 for edwationlreseaTch purposes. Page18 contipued_..
ChTcIEester Medical Education Cen¢ri' Notes its the Financial Statements~ eortiF?ved ror the Year Ended 31st marc 2024 15. RELATLD PARTY DISCLORLTIES There w¢r¢ Tro related party t..&%ct.oS for tlie ys9r ep.dthd 31 st March 2024.
Chi=hester M¢ditsl Education Centre DeÉailÈd State¢t tsf FI#E6ClaI ActiTrBties for jhe Ye#r Ended 31st M&r¢b 21J24 2024 2023 INC'OME AND ENDOmENTs DotgatlOEn5 and lega¢ÈÈ5 Df>Dations Und¢rgradLiats a¢Lount in¢oThi¢ 291.378 250 292,803 lov¢stm¢nÉ TnCOTne Reitiis re¢eiN'able Inv¢gttne51t incom= Bali% Iiii¢rest re-eivable 69,235 28,048 2,955 67,218 15.818 L,027 100,238 84,063 Ch? ritable sctivitie 75.561 47.132 Oul ofhow5 5UP¢Fvisor 75,561 Totkil incomig resourees 468,602 131.573 EXPENDITURE lThvi'stment management co%ts P011v.olio iy)3nagencn¢ 6.512 Ch2ritable activiities InsiiLince OtliLI' Reprfiis &T maint¢i?an SiiiLiYt accommodation costs D¢p"¢GiatlOii of tagIble fixecl assets 13.944 93 22.572 11,977 49.604 23 7,000 50,565 98,190 Supryort &osts Goverv*Dce cosls li]{Jependeiit CxalTratiOn fec Pri,fcsojTriial f¢¢ 3.500 6,536 3.310 Totsl Iesoulce ¢xpet]ded 114,738 NeÉ income before losses 353.864 Tbis page dees:i01 iOEtn part of th¢ stthtory fiLatt¢ial stateents Page 20
Chithe5ter led]eI Eduethtio C¢rltrc Detsiled S¢al'ement of Financial A(:tlii Ihe for the Year Emded 315t March 2024 2024 2023 Realised recq)gni5ed aInS losse Realised gainslllosscg) o'ai fixed ass. Én ,-atments 2.5961 Net Èn¢ome 43,695 This page a(ie%"".Ot fom] part of the sf2tratory anCIal $tatem¢nts Page21