REGISTERED CHARITY NUMBER: 257131
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2024
for
Midlands Asthma And Allergy Research Association
Bourne & Co. Chartered Accountants 47a Queen Street Derby Derbyshire DE1 3DE
Midlands Asthma And Allergy Research Association
Contents of the Financial Statements for the Year Ended 31 December 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 12 |
| Detailed Statement of Financial Activities | 13 |
Trustees Annual Report for the period 1[st] January 2024 to 31[st] December 2024
Reference and Administration Details
Charity Name :- Midlands Asthma and Allergy Research Association Other names by which it is known:- MAARA Registered Charity Number 257131
Registered Office: 47a Queen Street Derby DE1 3DE
Correspondence address P.O Box 1057 Leicester LE2 3GZ
Names of the Trustees who manage the charity:-
Mr Stuart Mills Dr Martin Stern Mr Stephen Watson Mr Peter Teasdale
The Charity Commission were informed of Mr Teasdale’s resignation as a Trustee with effect from December 16[th] 2024. The other trustees acted as such for the whole year.
The trustees are appointed according to the constitution which states that “(trustees) shall be elected by any General Meeting and shall serve until they die, retire or unless they are removed from office by any subsequent General Meeting.
A key responsibility of the Trustees is to ensure that the public will benefit from the research or projects which we fund.
Structure Governance and Management
The charity is governed by its constitution which was last changed in 2013 to reflect the changes in the objects of the charity, reflecting the cessation of medical trials and the disposal of the former premises in Vernon St. Derby. The Association had a membership of 56 during the year.
The constitution stipulates that the committee will consist of:-
-
i. The officers of the Association, i.e. the Patron, President, Chairman, Vice-Chairman, Treasurer and Secretary elected at the Annual General Meeting of the Association and a Medical Advisor. All such officers shall be elected for a five year period and shall be eligible for re-election for a further period of five years after the expiry of the original five years
-
ii. Not more than eight elected members, one third of whom shall retire at each Annual General Meeting of the association. The members of the Committee [other than the aforementioned Patron, President, Chairman, Vice -
-
Chairman, Treasurer and Secretary to retire every three years and again each of the eight elected members shall be entitled to stand for re-election for a further term of three years.
-
iii. The Committee may elect members to fill casual vacancies in the officers and members of the Committee until the next Annual General meeting
Trustees and officers of the Association continue to give their time voluntarily and receive no remuneration or other benefits.
Page 1
Objectives and Activities
Objects of the Association :-
-
a. Sponsoring of research into the causes and treatment of Asthma and Allergy, particularly by early career researchers
-
b. Sponsoring the dissemination of this to the public and/or to the medical profession by publication or through seminars or conferences
-
c. Providing general information on Asthma and Allergy to the public.
-
d. Fulfilling requests for information from academic bodies, interested groups and the public on matters relating to asthma and allergy, including research findings and information gathered by the Association or its agents, at the discretion of the Executive.
-
e. Undertake fundraising in support of the objects a – d
Summary of Activities undertaken
The activities of the Charity are largely dependent on the number and success of applications for funding from medical researchers and institutions in the East Midlands. The numbers of applications have remained low since the end of the pandemic, however a call for grants made in December 2024 resulted in five applications totalling £460k. These will be considered at a Medical Advice Committee (MAC) in early 2025.
The MAC critically appraises applications, including the amount of public benefit likely to accrue, in accordance with the Charity Commission’s guidance. The MAC has been chaired for over 10 years by Dr David Luyt who tended his resignation in June 2024 corresponding with his impending retirement from the NHS.
The MAC is now chaired by Professor David Cousins from the University of Leicester and comprises of two professors, one from University Hospitals Leicester the other from University Hospitals North Midlands, alongside MAARA’s chairman and treasurer, plus any additional expertise deemed necessary by the chairman. There is currently a vacancy for a lay person from the Executive committee to sit on the MAC.
Written applications are considered by the MAC following terms of reference formulated by them and ratified by the Executive Committee. This normally involves inviting the applicant to present their proposals to the MAC and discussing the project with them in detail. Differing levels of authorisation are required for different values of grant, including the involvement of external referees for higher value grants. All MAC recommendations for funding over £5k are subject to approval by a vote of the Executive committee. Improved guidance for applicants was published in October 2024 including deadlines for applications for the coming year.
Our website (www.maara.org) is used to disseminate information about asthma and allergies to the general public. It is also used to publicise the work of the charity and the research projects it sponsors.
Achievements and Performance
Two applications were approved by the MAC in the sum of £172,607 :-
High resolution spatial transcriptomic analyses of airway tissue in the MRC RASP-UK severe asthma bronchoscopy cohort £95000
Injectable antibody therapies (biologics) targeting specific molecules in the airways have transformed the treatment of people with severe asthma, particularly those with a type of airway inflammation caused by white blood cells called eosinophils. We call this type2 inflammation. These medicines reduce the rate of severe asthma flare ups (exacerbations) by 50% but have relatively little effect on airway narrowing or day-to-day symptoms. They also do not work in everyone as expected, and are often ineffective in people who do not have type2 inflammation. In this research study we will use a new technique called spatial transcriptomics to study the activity of different genes in key cell types that drive asthma beyond type2 inflammation, in the airways of people with severe type2-high and type2-low severe asthma. We will use airway tissue collected in a previous Medical Research Council-funded study. We aim to identify the key molecules that lead to the abnormal function of these cells in severe asthma, which in turn may highlight new targets for drug treatment in this very common disease.
Page 2
Investigations into the role of TGFβ1 in induction of senescence in airway smooth muscle cells (£77,000 initially)
Despite the development of novel treatments targeting T2 high asthma, these are not suitable/efficacious in all patients. Airway smooth muscle (ASM) dysfunction can contribute to symptoms in such patients. Thus, there are still clinical unmet needs in asthma and investigations into the cause of ASM dysfunction in asthma remain pertinent.
Increased senescence (the process of aging, particularly at the cellular level, where cells stop dividing but don't die) has been identified in ASM from elderly asthmatics vs age matched non-asthmatics, implicating accelerated senescence in the dysfunction of ASM cells in asthma. Few studies have addressed the role of senescence in asthma per se and even fewer in ASM dysfunction in asthma. TGFβ1 is a mediator that is increased in the circulation and sputum, and is released in increased amounts from several cell types in asthma, and which has been shown to induce senescence in other cell types.
This project was approved this year with the proviso that it could return for further funding, if the initial outcomes were judged to be positive.
Epipens and Salbutamol in schools £18000
A third grant was made but was agreed by the Executive without reference to the MAC as it was deemed not to be a research project.
We were approached by the Leicester Hospital’s Charity to work with them in a project they were undertaking to provide every school in Leicester City and Leicestershire with a spare adrenaline pen and salbutamol inhaler in case of an emergency.
Currently those children with allergies are prescribed individual pens and inhalers for use at school and with the rising number of children affected this can become a burden for the school managing all of the children’s pens to ensure that they remain in date. The project aims to prove that by having spare pens at school the numbers prescribed to children can be reduced and the scheme would become not only self-funding but a cost saving, whilst improving protection for pupils and teachers.
Other projects continue from previous years:-
The English version of the Drug Hypersensitivity Quality of Life Questionnaire: Validity and Reliability in the British Population
Following the completion of the above project this year, Dr. Patricia Romero Palomino was recognised with the Imperial College London’s Jill Warner Prize for her MSc Allergy research project which was judged to have significant potential to improve patient care.
- Investigation of mast cells from asthmatic bronchial biopsy tissue by single cell RNA sequencing for the assessment of novel therapeutics
Severe (uncontrolled) asthma affects a subset of people with asthma and does not respond to current treatments. Mast cells (MC) are a type of white blood cell in the airway that play an important role in uncontrolled asthma, causing both day-to-day
symptoms and attacks. Drugs that block MC function in asthma do not currently exist, because until now researchers have not been able to investigate the mechanisms driving abnormal MC function. We will use a new technique called single-cell RNA sequencing that will allow us to identify the abnormal molecular signalling pathways that drive abnormal MC function. We will use MCs obtained from the bronchi of people with severe asthma and expect to uncover new ways which MCs in asthma can be targeted effectively with new drugs, hence improving the care for people with this disease.
Harry Morrow Brown Award
The Harry Morrow Brown Award is an annual award commemorating the death of the founder of MAARA, it provides an annual sum of £5000 to support a range of health professionals wishing to present at suitable conferences and seminars, by paying bursaries covering conference fees and travel costs.
This year we sponsored five applications, 4 to the ERS meetings in Portugal and Vienna with one attending the American Academy of Allergy, Asthma & Immunology conference in Washington.
Page 3
All recipients presented their work in the field of asthma and allergy at the respective events. The total value of the grants was £5800.
The normal annual budget is £5,000, but the quality of applicant coupled with an underspend in the years since COVID allowed us to agree all of the applications received.
Financial Review
Reserves policy
Unrestricted funds are currently £1,318,029 and are used to meet our liability in payment of agreed grants as well as the day-to-day operating expenditure.
A decision was taken in 2006 to invest some of our funds in investment accounts in order to improve returns. These funds have performed well and we plan to leave these in place until the money they contain are needed for our work. We pay legacies into these funds to maintain the balance of investments suggested by our financial adviser.
We have no funds materially in deficit.
Our main source of funds this year has again been legacies which, by their nature, are difficult to predict or budget.
Declaration
The trustees declare that they have approved the trustees’ report above
Signed on behalf of the charity’s trustees
Full name Stephen David Watson Position Chairman Date 8th May 2025
Page 4
Independent Examiner's Report to the Trustees of Midlands Asthma And Allergy Research Association
Independent examiner's report to the trustees of Midlands Asthma And Allergy Research Association
I report to the charity trustees on my examination of the accounts of Midlands Asthma And Allergy Research Association (the Trust) for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity trustees of the Trust 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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 Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
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.
Joseph Fitzpatrick ACA
Bourne & Co. Chartered Accountants 47a Queen Street Derby Derbyshire DE1 3DE
Date: 2[nd] May 2025
Page 5
Midlands Asthma And Allergy Research Association
Statement of Financial Activities for the Year Ended 31 December 2024
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 2 Total EXPENDITURE ON Raising funds Charitable activities General Total NET INCOME/(EXPENDITURE) Other recognised gains/(losses) Gains on revaluation of fixed assets Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2024 Unrestricted fund £ 415,323 37,202 452,525 24,513 79,024 103,537 348,988 28,552 377,540 940,489 1,318,029 |
2023 Total funds £ 5,172 29,497 34,669 24,287 15,461 39,748 (5,079) 18,566 13,487 927,002 940,489 |
|---|---|---|
Page 6
Midlands Asthma And Allergy Research Association
Balance Sheet 31 December 2024
| Notes FIXED ASSETS Tangible assets 5 Investments 6 CURRENT ASSETS Debtors 7 Cash at bank CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 9 Unrestricted funds TOTAL FUNDS |
2024 Unrestricted fund £ 2 757,992 757,994 273 562,652 562,925 (2,890) 560,035 1,318,029 1,318,029 1,318,029 1,318,029 |
2023 Total funds £ 2 729,440 729,442 717 212,265 212,982 (1,935) 211,047 940,489 940,489 940,489 940,489 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 8th May 2025 and were signed on its behalf by:
............................................. S Watson - Trustee
The notes form part of these financial statements
Page 7
Midlands Asthma And Allergy Research Association
Notes to the Financial Statements for the Year Ended 31 December 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Medical equipment | - 20% on reducing balance |
|---|---|
| Computer equipment | - 33% on reducing balance |
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| Investment Income Deposit account interest |
2024 £ 28,327 8,875 37,202 |
2023 £ 25,548 3,949 29,497 |
|---|---|---|
The notes form part of these financial statements
Page 8
Midlands Asthma And Allergy Research Association
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
5.
| Unrestricted | ||||
|---|---|---|---|---|
| fund | ||||
| £ | ||||
| INCOME AND ENDOWMENTS FROM | ||||
| Donations and legacies | 5,172 | |||
| Investment income | 29,497 | |||
| Total | 34,669 | |||
| EXPENDITURE ON | ||||
| Raising funds | 24,287 | |||
| Charitable activities | ||||
| General | 15,461 | |||
| Total | 39,748 | |||
| NET INCOME/(EXPENDITURE) | (5,079) | |||
| Other recognised gains/(losses) | ||||
| Gains on revaluation of fixed assets | 18,566 | |||
| Net movement in funds | 13,487 | |||
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 927,002 | |||
| TOTAL FUNDS CARRIED FORWARD | 940,489 | |||
| TANGIBLE FIXED ASSETS | ||||
| Medical | Computer | |||
| equipment | equipment | Totals | ||
| £ | £ | £ | ||
| COST | ||||
| At 1 January 2024 and 31 December 2024 | 1 | 1 | 2 | |
| NET BOOK VALUE | ||||
| At 31 December 2024 | 1 | 1 | 2 | |
| At 31 December 2023 | 1 | 1 | 2 |
Page 9
continued...
Midlands Asthma And Allergy Research Association
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
6. FIXED ASSET INVESTMENTS
| MARKET VALUE At 1 January 2024 Revaluations At 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023 There were no investment assets outside the UK. Cost or valuation at 31 December 2024 is represented by: Valuation in 2023 Valuation in 2024 Cost 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Debtors and Prepayments 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 9. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 452,525 TOTAL FUNDS 452,525 |
At 1.1.24 £ 940,489 940,489 Resources expended £ (103,537) (103,537) |
Listed investments £ 729,440 28,552 757,992 757,992 729,440 Listed investments £ 18,566 28,552 710,874 757,992 2024 2023 £ £ 273 717 2024 2023 £ £ 2,890 1,935 Net movement At in funds 31.12.24 £ £ 377,540 1,318,029 377,540 1,318,029 Gains and Movement losses in funds £ £ 28,552 377,540 28,552 377,540 |
|---|---|---|
Page 10
continued...
Midlands Asthma And Allergy Research Association
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
9. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.23 £ 927,002 |
Net movement in funds £ 13,487 |
At 31.12.23 £ 940,489 940,489 |
|---|---|---|---|
| 927,002 | 13,487 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 34,669 | (39,748) | 18,566 | 13,487 |
| TOTAL FUNDS | 34,669 | (39,748) | 18,566 | 13,487 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.23 £ 927,002 927,002 |
Net movement At in funds 31.12.24 £ £ 391,027 1,318,029 391,027 1,318,029 |
|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 487,194 |
Resources expended £ (143,285) |
Gains and Movement losses in funds £ £ 47,118 391,027 47,118 391,027 |
|---|---|---|---|
| 487,194 | (143,285) | 47,118 |
Page 11
continued...
Midlands Asthma And Allergy Research Association
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2024.
Page 12
Midlands Asthma And Allergy Research Association
Detailed Statement of Financial Activities for the Year Ended 31 December 2024
| INCOME AND ENDOWMENTS Donations and legacies Donations Legacies Members Subscriptions Investment income Investment Income Deposit account interest Total incoming resources EXPENDITURE Raising donations and legacies Wages Rates and water Insurance Telephone Stationery, printing, postage and advertising Charitable activities Aerobiology Contract Other Research Grants Support costs Finance Bank charges Governance costs Accountancy Total resources expended Net income/(expenditure) |
2024 £ 6,655 408,518 150 415,323 28,327 8,875 37,202 452,525 19,194 1,560 1,531 512 1,716 24,513 - 75,657 75,657 87 3,280 103,537 348,988 |
2023 £ 4,629 153 390 5,172 25,548 3,949 29,497 34,669 18,329 1,320 2,320 484 1,834 24,287 9,048 3,031 12,079 160 3,222 39,748 (5,079) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 13