REGISTEREO CHARtrY NUMBER: 257131 R•port ofth• Tru•t•• and Unaudlt•d Fln•ncll Statwngnts torth• Y••r End•d 31 D•c•mb•r 2023 Mldland• A•thma And All•rqy Ro••4h Amoclallon Boumè & Co. Chartorod Acccrttntsnts 47a Queen Street Derby Derbyshire DE1 3DE
Idlands A•thma And Alhryy R•uorch A8socladon Contents of th• Flnanclal Statemonts for the Y•ar Ended 31 December 2023 R•wt ofth• Tru¥t••* Ind•p•nd•nt Examln•rf• R•port Stat•m•nt of Flnan¢lal Adlvl Balanco Sho•t Not•s to th Flnan¢lal Slat•m•nl• 7 to 11 D•talled Slat•m•nt of FIMn¢ial Actlvlll•• 12
Trustees Annual Report for the perlod 1¥t January 2023 to 31st December 2023 nc• and Admlnlstrat14)n D•t•ll# Charity Narne : Midlands Asthma aThJ Ajlergy Res8ar¢h Ass11 othèr n8m8s by which rt 1$ knThn: MMRA Reglsterad Ch8rfjty Numbèr 257131 Ind8Fendent &¥amlner Boume & Co. Chartered A¢cthJntants 47a Queen Street Derby Derbyshlre DE13DE Corr8spM)ndeneo addrgss P.0 Box 1057 Lèit8stsr LE2 3GZ Nam98 ofthe Trust vrt manage th• eh•ritr.- Mr Stuart Mi118 Dr Martin Siem Mr St8phgn Watson Mr P8t•rTeasdal8 l offiom actad as tnjstoas for thè whokg ygar. The trust8•s are apwinted according to the Consltudon wh6ch stat•$ Ihat"{trust88818hall be elected by ony GenerBI Meeting and sh811 serve unb"I Ihey dlo. ratire or unless Ihey ar8 removed from office by any subsequent Genetal Me8lng. A key rnspon8itylty ofthe Trusto•s is to •nsurè that the public wll bfrorn Iho r&saard) or prc4ect8 vthh we I}d. tructurn G0manc• ndm The th8rity 18 governed by Ms conslSbJlOon which was I¢ ¢hanged in 2013 to rnfieet Ihe cang8s in the obJ8cts of thè tarity. refieclNJ thg cessaiK)n of medical tiials and the dfjspJ#•l of the fornr prernises in Vemon St. D•rby. Tr AB80cth had a membershlp 0156 during Ihe year. Tha eonstitybon $plateS that the commltt8• 11 sn*t ot. The offlc8rs oflh8 Assooation, i.e. thg Patron, Pre61den( Chaim18n. VIc8-Chwnn8n, Twsurnrand S•cretaryele¢ted at the Annual Genaral Mg8ting ofthg A¥80ryation and a Medical Nth¥sor. Al such officers shall be 818ettd for a fve- year perfod and shall bo aliglblè for fe-818CtK)n for a fijrther p8rf¢>J of flva yaars after lh8 expiry of thè original five Not mor• than avJht elected members. on• thlTrJ of orn sh811 relre at 7¢h Annual g8n0T MeefjThJ of th• a&8ociation. Th8 mernb8r5 of th8 Commrttee lother than lh• aforgm8ntlc8d Patron, Presldant, Chairman, - Chaimian, Tr8asur•r And SKr8tary to rebrg every three yoars and again each ofthe wght dect8d m•mbers shall be enllll lo Stand for rollelecdon fora fvrthertgrm of threo year8. The Commrtte• may 018Ct m8mbewB to fill casual vacarA•S in officars and members of th• Cc¥nrrxtl89 unlil the next Annual Genernl m88lng. Tw$te98 and offic•rs ofth8 NAswdon o)nUnue to glve thtsirtimo vduntarity and recefve no remuneration or other beneffts. Page 1
Actfv ObJèets ofth¢ Asswation.. SponsorfrKJ of resaarch Snto the causes and Ireatm8nt ofAsthma and Mlergy. parbcularfy by earty career rgse8rthgr¥ b. Sponsotlng th& dlssamlnallon of thlgtothe publkan¢Yorto the rnediral professlon by publicalion orthrouqh ¥inr¥ or conferenc8S Providing gerla1 infomi8tion on Asthrna and Alergy to Iha public. d. Fu111ng raquasts for infomiation from academic bodles. Interestsd groups tho publk mattw5 rglatiThJ to asthma and allefgy. IndudSng researc findSrvJs and informallon gathered by the A8socaatson or ils ayants, at Iho dlscretlon of the Execudve. Und8rtako fijndrain9 in SUPFQrt ofth8 objects a- d. Summa ofAdlVmI uthkrtk•n The actmties of the Charity are largety dependent on the number and succ8ss of applleatlons for fundlng from methcal researchers and instrtutions ir the East Midlands. The numter¥ of apiCal)0n8 r8rnain low slnce Ihe of the pandemic. We havè a sèparat8 M•dieal Advlc• Commrttee (MACI ehalred by Df Davlj Luyi crttic81ty OFPrni8•8 8pplieatkns. IncludSng trhe amount of publlc benefft Ilkely to pK¢rue, in a¢o)rd8n¢g With thg Charity Cornmlsslon's gLtldanc6. Awl8rKo Olap1¢ic5 invofv88 a protC<3Jl Idèntyng dftg th16 ofauthortsaJon for dlffwentvaluos ofgr8nL indudlng thè involvamènt of axtamal f•far for hlgher value grants. Al MAC rec¥)rnmendation8 for fijnding ow £5k arè suw to approval by a vots ofthe Execthve cx)rnmittee. Our website ¥¥W maara.o l is used to di5S8rninate infomiation about asthma and allergies to tha general public. It is also Used to publici58 th& of Iha charity aThJ the research prctyects it sponsors. Th8 current websrtè Was 18St redesKJned in 2010 and gIn its aga, the Committee ¢Jechled to o)mmissN)n 8 new Sits whth improved rts k)cks, lunetionalty and security. The slte went Ilve In lknbef 2023. Athl•vem•nts and P•rfomMn One apF41cafjon was approved by the MAC In thè Sum 01£89,796.12'. The UK has onè of hlgh&st asthma d•ath rat6s in childrnn compared other devewd ¢xuntrios in the world. A rgpwt publish8d 10 r$ ago found that the rAr8 of ciKlren with asthma in Ihe UK was poor. Uslng electronic heath data which has alreaoty te8n ccdlected, this study wants to find out ff Ihe carn ofchildrtn with asthma has improv8d in th8 10 years Since the report, Ir children from rtain ethnic or swal bacgrounds are MO likdy to die from th•ir 85thma, and rf there are any risk facaors which ¢an pred1 Bsthma dè8th$. Answering these questions wll allow h8althcare profv55hM#ls to better identy higher risk thiren. improv• th8fjr (fe, and hopefvlty prevent asthma dealh3. other proi¢¢ts wntinua from y•ars'. ThèEn onn in th8 Britigh P lath) It has ba8n Sho that pauents wmh fc#)d aller$ havo an impaimnt li thak qualty of lrfe (QOLI. Hver, Iitue hAS been done to prove Ihls relationship in dnjg allergy. In 2010, Bakgrdini and h8r group putAishgd th8 Orug Hyper58nstbwty auality of L¢fe Qu8$tionnairo IDthy-Ql. Thi5 qu85tionnaiw was validated In an Ilalian population of 365 patiants. The Dy has shown reprodwb18 rasutt5 when translatsd into Spanish. Portiiguese, Thai, Turkn¥h and Duteh. It is hyFthesised that ¢8pttJring and addr8ssing patient in the UK through th8 use 01 th8 OrHy-a may improve the appr08ch to patients with drug alltrruy andlorthe 8ffg¢tivon8ss of drug allergy tasting. Hv•rnv8r, th• DrHy-Q must first bg tranaled into English, ond then ¥kIated. Lfore its use in the UK population can be conshler•Y. Thls pr4ect Is 8¥p8Cted to LxJmpl&te in 2024. Pagg 2
Inv•sl alon of mast cèlls from th•ra lfic bron m8nt ofr Severe lunoJntrd18dl asthma affgts a $ut4?t of people with a$thma and does Th)1 r•spond to eurront tr•almènts. Mast C8118 IMCI are a typo of white bbod etrll in the air%vay that play an irnportant rol8 in UfKontrolled asthma, causlng both day-t041ay sympt(ms and attacks. Drugs that block MC funclton in asthma do Mt currenty 8XlSt, b8caus8 until now reseafchers have not n ablg to Invtigat9 thg mgch8nisms diiwng abnonnal MC fiJncJon. We wtll use a new techniqu8 called ¥illgle-¢oll RNA uenLyng that will alkjw us to id8ntify the 8brK)rmal MdeIer svJn8lling pathways that drlve abnomial MC lunction. Wg will usé IACS obthinad frcm th• bnnchi of people with sgvgrg asthma and exFCt to uno)ver new ways which Mcs in a¥thma be targeted 8ffecfvdy wtth now drugs, hwe• improwng the care for p80pI8 Vrith Ihis disease. Th16 prOtI6 expethl to Lyjmpkn In 2024. Tho Hary Morrow Bron Award an annual award c>)mm•morntlng lh8 daath tsflh8 fowKIgTofMAARA r( Pd•S An onmal Sum of £5.000 to support a fang¢ of health professionals wi8hlng to present at suttAt4& cOnf•mr and 8ernlnarn. by paylNJ butsaries cov8ring conferencg fegs and travel o%ts. There has been an increase this year from the onè apSeatn last year to fve applicati5 this year. Four applications wer8 approv¢d for thp to visit the Britssh Sockty lor Alergy and CliThl Imrnundogy conference in Harrogata. On• reUPnt visited the EUron Rgspiratory Society intemational cmgmss in MAan. Al reawgnts we¥entsd thelr work In tho field ofA81hma and Al¢rgy. The total 8¥pendrture on this wasiust over £3000. Unrestrbcknl funds arn c#JrTenty £940,489 and usad to mogt r IKqbilty in payTnent of agreed grants 8$ VAII a¥ Iho day- day operating expenditure. A d85n was taken in 21)06 19 Inve8t 80me ol our fijnds In Invosb7)8nt accnIS in ordgr to improve retums. Th6 frjnds havo rtoM1 wèll and w8 plan to Egavg th989 in place until the money they eontsln ar8 na•d•J our wcqk. We hav& no funds matorially in doficit. Our maln source offvn¢ts thls year has agn by Ihdr Thatrjre. aro dlfflcult to prsdkt or budagt. Tha tnK8t8os d•dar• that thèy havè oppr0 th8 tr1898. report at¥)ve Signed on behaifofthe charfvs truste68 24th Juty 2024 S Watson . TNsts• Page 3
lnd•nd0nt Ex•mln•rf• R•port t• th• Trt• of MldlarTrd5 Asthma And All•r9y R•search A•sockon Ind•p•nd•nt •xamln•rf8 report to th• tN•tfj of Mldland• A•thmo And Allgrgy R•8•arth A8•oelatlon I rwrt to the tharity trustees on my examination ofthe accounts of Midlands Asthrna And Ajlew R858arch A88oU'ati( (th• Trust) for th8 yoar ended 31 DewThbor 2023. R•sponslbllltk• and 1 of r•port As thè chanty tru$t•$s tsfth• Tnjstyou ar• mponslb$8 forthe preparation ofthe accounts in thè rwlram8nts of the Charib•s Ad 2011 Cthè AeVI. I report in fesrct of my examin8tson of the Tr[8 accounts lad out undw Saction 145 01 the Act and in CarrTrg out rny examSnaJon I have fdknwed all appIlb8 Dwecbons given by the Charity Cammtssion under Sectlon 14515Mbl ofthe ACL Ind•p•nd•nt •xamlMrf$ stat•m•nt I h8Vg MPleted my examination. l eefifim) that no mat8Ylal matters have come to my attention in win8eUon ¥th th• examinati¢ gi¥ww me cau80 to bolh8¥e Ihat in any mat•rial rn$. aec(Junting recLJrds *tre tv)t kept in respect of the Trwt as rg]uirgd by Sèdton 130 of the Act., or the accounts do not accord wlh thos• rj$.. or Ihe aftounts do not compty with the aPIcab requimments concoming the fomi and content of 8CCDunts Set c In the Charile$ (AUnts and Report51 Regulations 2008 othorthan any requirwnent that thg 9(xounts gNe a true and falr eW Is nota malter coniidarpd * part ofan Ind8rant exanlnallon. I have no ¢¢$m$ And ha come acros6 no other matters in connectijn with the examination to wNch att8nOon shoukl be dravm in Ihiy r8POrt in orderto en86 a proper uThJeTsianding ofthe accnts to be rgacw. J¢8•ph Flty8tr1ck ACA Boume & Co. Chartered Accountants 47a (kn8n Street Derfoy Dorby5hirB DE1 3DE Dat•. %4.1.7Iuk.....................
Mfdland8 A8thma And All•rgy Resear¢h AS*1tIOn Statsm•nt of Flnanclal A¢llvttl•• for th• Y•ar End•d 31 O•e•mb•r 2023 2023 Unrosffic fvnd 2022 Total nds Not8S INCOME AND ENDOWMENTS FROM Donations and legacies S,172 90,468 Inveslm8nt ineomè Total EXPENDMJRE ON Ralslng fijnds 24,2B7 Generat 63,338 Total 39,748 NET INCOMEIIEXPENDITIJRE) Oth•r r0915#d galnsllloss•s1 Galnslllossasl on rèvaluatiort of o$89ts 15.0791 N•t mov•m•nt fund• 13.487 134,5981 RECONCIUATION OF FUNDS Total funds brought foNRrd 927.002 981,600 TOTAL FUNDS CARRIED FORWARD 940.489 927,¢J)2 Th• not•s fonn part of these ffinandal statemonts Page 5
Mldlands Asthma And AllwJy Rovarch Assoclatlon Balan Sh••t 31 D•mbr 2021 2023 Unrestrthd fund 2022 Totsl fuThJs Notgs XED ASSETS TaryitAe assets Investsnents 729,440 710.874 729.442 710.876 CURRENT ASSETS Dabtors Cash at bank and in hond 717 212,265 172 219,406 212,982 219,578 CREOtroRS Amounts falling due Iwthin one ygar 11.935) 13.4521 NET CURRENT ASSETS 216128 TOTAL AsseTS LEF CURRENT LIA81LmES 927.C#)2 NET A%SEf3 940,489 927,C4)2 FUNDS Unrestrictsd fijnds 940,489 TOTAL FUNDS 940,489 171h June 2024 Th• finandal slatementswe approved by the Board ofTntw and #ulhJrla•d for LIS c ............................................. and werg signed on its b8haKby. S Walson- Tru$teg Th8 notos fonn part ofthe89 finanthl stalornonts Page 8
Mldlab)ds Asthma And All•rgy R•8oarch A••oclallon Not•• to th• Flnan¢ll Stst•+n•nts for th• Ymr End•d 31 D•ufflbgr 2023 ACCOUIfflNG POLICIES Bsls ol pr•parlng tho Ilnanclal 8tst•rn•nts The financkql ststements of the charity, which 18 a publlc b8n•fft tintity und8r FRS 102, have b8en pffjp8d in acoirdan¢e vthh the CharitSes SORP IFRS 1021 AccwntiThJ and Repong by Charttias: Stat8rnent of Recommended Pradce appllcabla to charibe8 pr8P8ring their a¢uTrts in accranC8 th8 Financi81 ReportiThJ Standard applicab18 in the LIK and Republic of Iieland IFRS 1021 laffective 1 January 20191.. Finanoal Rèporting Stsnda¥d 102 Th8 Finanryal Reporting Standard 8pplfe8blè in Ih8 UK and Republic of Ireland, and th8 Charibes Act 2011. The financial statements have be8n prepared under the historical cost eonvèntion, th lh8 excoplion of investments 1¢h arn Indutlad at Ma0t valug, a¥ modhled by the revalu81I)n ol e•rtain a¥¥ots. Incomo I Inc¥)rne Is rwn1s8d In th8 Stat8m•nt of Financkql Actrvibes once the chartty has tntiugrngnl to the futNJs, it L8 pr0bfie that th• inrjjmt vrill rKewed and the amount ran m•asur•d rgliabty. Expendltur• LwblllJ6s arg r80)gnls8d 8$axpèndllure a8srx)n asthwe alogal oreonstruckn obllgthn commlttlngth• thartty to that exnditurtr. it is probable that a transfer of economic tneffts will be required in setuement and th8 amounl of the obligation be rneasured reliably. Expenditttr8 is acownted for on an aceruals ba51$ and has been dOffied under headlngs that agggate all cost r81at8d to tho rlegory. whe eosts cannot b8 diredy ambuted to partiwlar h8adings they havo baen allocated to Octivitigs on a basks nSiStent vlith thg of reSous. Grants offered subi8Ctto condrfons whlch hav• not b#8n mot at the year end dats arg notsd as a rnMIlment but not accAd as expendtture. Tanglbl• flx•d *M•ts D•pwakn 1$ prowded at the f10th3 annual rat8¥ in orderto write off eath us8t ovgr its estimated us•ful lrfe. Medical equipment Computer equipmont 20% on reduring balance 33% on r¢durAng balan Tttatlon The charity i¥ gxempt from tax on its tharilaa activthes. Fund accounn unr8slit fiJrKls be us8d In a¢xordan¢• Ihe charftsbl& obJ8etivas at thg diwelon ofth• truste0¥. Restrictsd hjnds can oity b8 Usgd for parbcular restrict8d purposes wthin the objècts of th¢ charity. Reslrietion¥ arise ¥then sp8cffi8d by th8 donor OT when fvnds are rak88d for particular resthctad purwjses. Furlhgr gWanatIc ofthe naiwe and wrpos8 of each fijnd L8 induded in the nots8 to the fimnckql ¥laternents. INVESTrIENT INCOME 2023 2022 Invg8tmen¢ Inme Deposit attount Intèrn 25.548 3,949 23,840 1.324 Pag• 7 ¢Ontinl...
Mldlands Asthma And All•ryy R•*r¢h Amocthtlon Not•8 to th• Flnan¢lal Stat•m•nts- ¢ontlnugd th• Y•ar End•d 31 OK•mbw 2023 TRUSTEES. REMUNERATION AND BENERTS There We no twstees, remelatiOn or other bengfits for the ygor ondtyl 31 08e4mbèr 2023 nor for Iha year •nd8d 31 December 2022. The were no busts•8' expenses the year ended 31 Dwiber2023 nty for •nded 31 D8C8mb8r 2022. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTi¥mES Unfèsbthj fund INCOME AND ENDOWMENTS FROM Donations and lagauas Inveslment incon 25.164 T¢)l•l EXPENDrruRE ON Raislng funds Charltabl• •dlvlU General Total NET INCOME Oth•r rncognlsed galn•lllo•M•) G8insl(loss•sl on ravaluats"c of fixed a¥80ts N•t mov•rn•nt In lund• 134.5981 RECONCIUATION OF FUNDS Totsl knnds brought forwwd 961,600 TOTAL FUNDS CARRIED FORWARD TANGIBLE FIXED ASSETS M•dtsl equiwnont Computsr aqulpment Tots COST At 1 January 2023 and 31 DMb20T3 NET BOOK VALUE At 31 December 2023 At 31 Dmber 2022 Paga 8
Mklland• Asthrna And Alleryy Research Assoclatlon Not•s to th• FIMncl•l Stat•m•nts- ¢ontlnu•d forth• Y•ar End•d 31 D•c•rnlJ•r 2023 FtXED ASSET INVESTMENTS Listsd invastmènts MARKEf VALUE Al 1 January 2023 R•valualions 710,874 18.5e6 At 31 December 2023 729,440 NET 800K VALUE At 31 Dbr 2023 729.440 At 31 Downb8r 2022 710 874 Thor• w•r• no Invastment ass•ts outsk10 th• UK. Cost or valMlon at 31 Docombor 2023 Is raprant8d by.. Listed Intrnents Valualon In 2023 18,566 710,874 729,440 DEBTORS: AMOUNTS FALUNG DUE WIThIN ONE YEAR 2023 2022 Deblcrfs and Prepaynts 717 172 CREDrroRS: AMOUNTS FALLING DUE WITHIN ONE YEAR 20fJ 2022 3,452 MOVEMENT IN FUNDS movement In funds At 31.12.23 At1.1.23 Unrestrf¢t•d fvnd• General fijnd 927,002 13.487 TOTAL FUNDS 927 002 Net nNMrnent In filnds, indudèd in the Bbovg are as frAk).. IncomiThJ Resources 8xpandgd Gains and Mov8mont In funds Unr••trlct•d lund• General fund 139.7481 18,566 13.487 TOTAL FUNDS Pag& 9
Mldl•nds Asthrn• And All•r R•srth Atsoclatlon Not•• to th• Flnancl•l Stat•mgnts- ¢ontlnu•d for th• Y••r End•d 31 0•mts•r 2023 MOVEMENT IN FUNDS- contlnu•d Comp•r•tlv•• for mov•m•nt In fund• Net mowm8nt in fvnds At 31.12.22 At1.1.22 UnreBtrICt fund• General fvnd 961.6CIJ 134.5981 927,002 TOTAL FUNDS 961,6C4J 34,5981 927,002 Comparaty8 net [rK)VenI In fiJnd$. induded in thfj abovè or* as follow&". Incoming rosourcey 8xp8nd#d Gabn8 and loss•s M¢)vemgnt In fvnds Unrn$tri¢t•d funds General lund 115,832 186,1841 164.0481 134,5981 TOTAL FUNDS 115,632 86,184 34,5981 A currgnt yg#r 12 rnonths and w•)r y•ar 12 nKJnlhs combln8d On is as foll¢yK.' Net rnment In funth At1.1.22 31.12.23 UnrMtrfct•d fund• General fund 961.6[ 121,111) 940.489 TOTAL FUNI)S 961,600 21.1111 940,489 A ¢uThent year 12 nK)nlhs and prfof 12 months fxjmblned net movernenl in fvnds. indudèd In above are as fdlows.. In¢omiryJ resourcos Rewur expended Gains And loss&s n funds Unr•8trfetsd fvb)ds Gener81 bjnd 150,301 1125.932} {45.4801 121,111} TOTAL FUNDS 1125 9321 21 1111 Pap 10 rJ)nOnued...
Mldlands Asthma And All•ryy R•s•areh Asso¢latlon Not•• to th• Flnanclal Slat•m•nts- contlnu•d for th• Y•ar End•d 31 Doe•mr 2023 10. RELATED PARTY DISCLOSURES There were no related party tran6acOnS for the year ende4J 31 D8¢xmbèr 2023. Pag? 11
Idl•nd• A•thm And All•rgy R•8•ar¢h As•od4tlon D•tallod Stat•rn•nt ot FIrnlI Acvvlu forth• Y•ar ended 31 D•c•mb•r 2023 2023 2022 INCOME AND ENDOWMENTS Donatlons and l•g•cl•s Donations Legaaes M8mbw5 su1crip1Jns 4,629 153 2.257 88,151 60 5,172 Inv•tm•nt Ineom• Investment Inry)me DaposK account Int8r•st 25,548 23,840 29.497 25,164 Total Incomlnq Mour¢•s 34,669 115.632 EXPENDrruRE Ralslng donatlom •nd1•gacl•• Wages Rates and watsr Insuran Telephona Sta'onery, winting, FQStage and ad¥erb'sing Sundrfas 18.329 1.320 2.320 17,8¥2 1,440 439 2.127 287 1.834 24.287 Charft•bl• actlvltl•• Aerobiokngy Contrd Other Researth Grants 9,048 36,600 23.523 12,079 60,1r3 Support ¢08t• Flnn Bank chary&¥ 1fj0 Gov•mJnu ¢o•t• Aeo)untancy 3.067 Totsl resources eXdj N•t l•xp•nd1tur•nmrn• Th18 page dog$ notfDmi part of tho statOry fina4 ststements Page 12