| Ended 31 December2024 | |
|---|---|
| Contents | Pages |
| Members of the Board and Professional Advisers | 1 |
| Trustees' Annual Report | 2 - 5 |
| Independent Examiner's Report to the Trustees | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 - 13 |
| Charity number | 261932 | |||
|---|---|---|---|---|
| The Board of Trustees | Mrs S K Austen- Chairman Mr C M Linton- Hon. Secretary (from Drj M Goldman Mr S MacOermott |
1 | July 2024) | |
| Mr T G Parry | ||||
| Mr C Siegle- Hon. Secretary (resigned |
1 July 2024) | |||
| Independent Examiner | Bishop Fleming Audit Limited | |||
| Chartered Accountants | ||||
| Brook House | ||||
| Winslade Park | ||||
| Manor Drive | ||||
| Clyst St Mary | ||||
| EX5 1FY | ||||
| Bankers | CAF Bank Limited | |||
| 25 Kings Hill Avenue | ||||
| Kings Hill | ||||
| West Malling | ||||
| Kent | ||||
| ME19 4JQ | ||||
| Solicitors | Kitsons | |||
| Minerva House | ||||
| Orchard Way | ||||
| Edginswell Park | ||||
| Torquay | ||||
| Devon | ||||
| TQ1 7FA | ||||
| Investment Managers | Brewin Dolphin | |||
| Vantage Point | ||||
| Woodwater Park | ||||
| Pynes Hill | ||||
| Exeter | ||||
| EX2 5FD |
| 31 December2024 | |||||
|---|---|---|---|---|---|
| Note | |||||
| 2024 | 2023 | ||||
| £ | £ | £ | £ | ||
| Fixed assets | |||||
| Investments | 6 | 2,051,218 | 2,372,766 | ||
| Current assets | |||||
| Debtors | 7 | 7,288 | 9,007 | ||
| Cash at bank and in hand | 63,283 | 23,092 | |||
| 70,571 | 32,099 | ||||
| Creditors: Amounts falling due | |||||
| within one year | 8 | (634,193) | (994,450) | ||
| Net current (liabilities) | (563,622) | (962,351) | |||
| Total assets less current liabilities | 1,487,596 | 1,410,415 | |||
| Creditors: Amounts fallingdue | |||||
| after more than one year | 9 | (162,488) | (178,611) | ||
| Net assets | 1,325,108 | 1,231,804 | |||
| Represented by: | |||||
| Unrestricted reserves | 10 | 1,325,108 | 1,231,804 |
| Unrestricted | Restricted | Total Funds | Total Funds | ||
|---|---|---|---|---|---|
| Funds | Funds | 2024 | 2023 | ||
| Note | £ | £ | £ | £ | |
| Incoming resources | |||||
| Donations and legacies | |||||
| Investment Income | 3 | 65,594 | - | 65,594 | 75,642 |
| Total incoming resources | 65,594 | - | 65,594 | 75,642 | |
| Resources expended | |||||
| Costs ofraising funds.' | |||||
| Investment management costs | 14,859 | - | 14,859 | 19,085 | |
| Expenditure on charitable activities: | |||||
| Charitable activities: Grants | 4 | 59,538 | - | 59,538 | 67,829 |
| Governance costs | 5 | 10,312 | - | 10,312 | 12,851 |
| Total resources expended | 84,709 | - | 84,709 | 99,765 | |
| Net (outgoing) resources before transfers | |||||
| and other recognised gains and losses | |||||
| (19,115) | - | (19,115) | (24,123) | ||
| Other recognised gains and losses: | |||||
| Realised and unrealised gains / (losses) | |||||
| on investments | 6 | 112,419 | - | 112,419 | 190,657 |
| Net movement in funds | 93,304 | - | 93,304 | 166,534 | |
| Reconciliation offunds | |||||
| Total funds at1 January 2024 | 10 | 1,231,804 | - | 1,231,804 | 1,065,270 |
| Total funds at 31 December 2024 | 1,325,108 | - | 1,325,108 | 1,231,804 |
| Investment income | ||
|---|---|---|
| 2024 | 2023 | |
| Total | Total | |
| Unrestricted Funds: | £ | £ |
| Dividends and interest from | ||
| investments | 62,221 | 73,924 |
| Bank interest | 3,373 | 1,718 |
| 65,594 | 75,642 |
| Charitable activities | ||
|---|---|---|
| 2024 | 2023 | |
| Total | Total | |
| Unrestricted Funds: | £ | £ |
| Grants committed | 61,904 | 112,771 |
| Grants written off | (4,110) | (46,667) |
| Medical lecture costs | 1,494 | 1,725 |
| Other | 250 | |
| 59,538 | 67,829 | |
| Number of grants committed | 1 | 2 |
| Governance costs | ||
|---|---|---|
| 2024 | 2023 | |
| Total | Total | |
| Unrestricted Funds." | £ | £ |
| Sundry expenses | 64 | 71 |
| Honorariums | 7,200 | 10,800 |
| Legal and professional fees | 3,048 | 1,980 |
| 10,312 | 12,851 |
| Investments | ||||
|---|---|---|---|---|
| Investments | Cash | 2024 | 2023 | |
| TOTAL | TOTAL | |||
| £ | £ | £ | £ | |
| Designated Funds | ||||
| Market value at 1 January 2024 |
2,340,041 | 32,725 | 2,372,766 | 2,300,036 |
| Disposal proceeds | (1,569,340) | - | (1,569,340) | (1,075,927) |
| Investment additions | 1,570,373 | - | 1,570,373 | 1,068,000 |
| Realised and unrealised gain | 112,419 | - | 112,419 | 190,657 |
| Cash withdrawn from the investments | (435,000) | - | (435,000) | (110,000) |
| Net cash movement | (39,423) | 39,423 | ||
| Market value at 31 December 2024 | 1,979,070 | 72,148 | 2,051,218 | 2,372,766 |
| Debtors | |||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Investment | income | 7,288 | 9,007 |
| Creditors-amounts falling due withi | n one year | |
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Accruals | 18,985 | 13,885 |
| Grants | 615,208 | 980,565 |
| 634,193 | 994,450 |
| 2024 | 2023 |
|---|---|
| £ | £ |
| 162,488 | 178,611 |
| Balance | Incoming | Balance | ||||
|---|---|---|---|---|---|---|
| at | forthe | Transfer | at 31 | |||
| 1 January 2024 |
year £ |
between funds |
December 2024 |
|||
| £ | £ | £ | ||||
| Total | general | funds | 1,231,804 | 93,304 | - | 1,325,108 |
| Analysis of net assets (betw | een restricted and unres | tricted funds | ) | |
|---|---|---|---|---|
| Net | Long | |||
| Current | Term | Fund | ||
| Investments | Liabilities | Liabilities | Balances | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General funds | 2,051,218 | (563,622) | (162,488) | 1,325,108 |