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|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|
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|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||||
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|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|
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|||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|
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|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|
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|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|
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|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|
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|Debtors||||
|---|---|---|---|
|||2024|2023|
|||£|£|
|Investment|income|7,288|9,007|
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|Creditors-amounts falling due withi|n one year||
|---|---|---|
||2024|2023|
||£|£|
|Accruals|18,985|13,885|
|Grants|615,208|980,565|
||634,193|994,450|
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|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|
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|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|
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