Docusign Envelope ID: 24614B88-0E37-4E3C-9419-3C228A098579
Charity registration number: 266071
National Association for the Relief of Pagets Disease
Annual Report and Financial Statements for the Year Ended 31 December 2024
Docusign Envelope ID: 24614B88-0E37-4E3C-9419-3C228A098579
National Association for the Relief of Pagets Disease
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 8 |
| Statement of Trustees' Responsibilities | 9 |
| Independent Examiner's Report | 10 |
| Statement of Financial Activities | 11 |
| Balance Sheet | 12 |
| Notes to the Financial Statements | 13 to 24 |
Docusign Envelope ID: 24614B88-0E37-4E3C-9419-3C228A098579
National Association for the Relief of Pagets Disease
Reference and Administrative Details
Charity Registration Number 266071 Principal Office Jactin House 24 Hood Street Ancoats Manchester M4 6WX Trustees Professor Stuart Ralston, Chair Professor Robert Layfield, Vice Chair Professor Graham Russell, Honorary President Dr Sheelagh Farrow Ms Amanda Sherwood Ms Kely Burman Professor Jeremy Mark Wilkinson Ms Eve Berry Dr Faizanur Rahman Mr Mohamed El Erian Mr Alan Martin Independent Examiner Helen Binns FCA Beever and Struthers One Express 1 George Leigh Street Manchester M4 5DL Bankers Barclays Bank plc 1 Market Street Bolton BL1 3NJ Investment Managers Evelyn Partners Royal Liver Building Pier Head Liverpool L3 1NY
Page 1
Docusign Envelope ID: 24614B88-0E37-4E3C-9419-3C228A098579
National Association for the Relief of Pagets Disease
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2024.
Objectives and activities
Objects and aims
The Paget's Association is the only charity in the UK whose remit is solely concerned with people with Paget’s Disease of Bone. The broad aims of the Association are to provide information and support for people with this condition and their families; to raise awareness about the condition amongst the general public and within the medical and allied health professions; and to support and fund research projects in the field of Paget's Disease of Bone.
Public benefit
The Paget’s Association is an inclusive organisation which promotes the well-being of all people diagnosed with Paget's disease of bone, their families and carers. We provide information to people affected by the condition and also provide information and advice to healthcare professionals responsible for delivering their care. There is no charge for this service. We work to end the isolation of people with Paget's disease and encourage them to take control of their condition and treatment. We offer educational and social opportunities via our Paget's Information meetings which are free of charge and open to anyone with an interest in Paget’s disease.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Membership
Membership of the Association is open to anyone who has an interest in Paget’s disease. This includes those affected, their relatives and carers, as well as scientists and healthcare professionals. The current subscription for membership of the Association to receive the quarterly newsletter is £20 per annum for UK members and £30 for overseas members. Professional membership is free of charge. Information Meetings are generally free of charge to encourage maximum participation but occasionally a small fee may be charged to help defray costs of catering and venue hire.
Page 2
Docusign Envelope ID: 24614B88-0E37-4E3C-9419-3C228A098579
National Association for the Relief of Pagets Disease
Trustees' Report (continued)
Achievements and performance
Events
Two face-to-face information events for those with Paget’s and their families were held in 2024: one in Cambridge and one in Middlesbrough, both hosted by local experts from the Paget’s Association (NHS) Centres of Excellence.
Our Focus Group of members held virtual meetings to discuss various aspects related to Paget’s disease and the Association.
Infrastructure
The website of the Association was completely redesigned and updated during 2023. This provides a greatly improved user journey and easier public access to all our information booklets and magazines, enabling those in need to find the information easily.
Support
Support continued through our Specialist Nurse and Director of Educational Resources (SNDER), who manages the Paget’s Nurse Helpline, responding to queries via email, telephone, and social media. Our Paget’s Buddy scheme also remained available, offering one-to-one support. The SNDER also facilitates regular Virtual Paget’s Support Groups at different times to accommodate people worldwide. Additionally, many individuals found support through our international Facebook Support Group.
On Paget’s Awareness Day, 11 January 2024, we hosted a virtual Question and Answer session with our Chair, Prof Stuart Ralston. Open to anyone with questions or concerns about Paget’s disease, the event drew the highest number of attendees since its inception.
Information
All new members receive an information pack containing our booklets, leaflets, and the Association’s magazine, Paget’s News, which is sent to members and serves as a valuable source of information and support.
Raising awareness
On the 6th International Paget’s Awareness Day, held on 11 January 2024, we launched a video series showcasing Paget’s research-a journey through time and innovation. These videos were made available on the Association’s website and YouTube channel and actively promoted on social media, which remains a key tool for raising awareness of Paget’s disease to the widest possible audience. We have also enhanced our use of Google Ads to extend our reach to more people.
Page 3
Docusign Envelope ID: 24614B88-0E37-4E3C-9419-3C228A098579
National Association for the Relief of Pagets Disease
Trustees' Report (continued)
Research
The Association has a long history of funding high quality research projects that advance understanding of the causes of Paget's disease and/or provide new insights into management of the disease and the prevention of complications. In 2024, the Association continued to support research into Paget’s through grant awards and has a portfolio of research grants already in progress with ongoing commitments of £124,374 at the end of 2024, although the Trustees decided that no new commitments for research should be made as of January 2024 due to a decrease in legacy income.
When the Association invites applications for grant funding, it does so through advertisements on its website. Each application is assessed by the Trustees, an external Research Grants Committee (RGC) and external peer reviewers and graded against the specific criteria and research objectives set out by the Research sub-committee (RSC, formed from Trustees). Some Trustees undertake research, related to their employment, within research facilities and/or hospitals and may receive funding from the Association, via their institution, to carry out research. Any decisions made regarding funding for these applications are made independently from the Trustee who is not permitted to take any part in the decision-making process. The same principles apply to funding of grants involving scientists from the same institution as a Trustee. An important part of this process is the role of lay people in the decision making, regarding the relevance of the applications to the Association's objectives. Each successful applicant is required to provide regular reports on the progress of the project for the RSC and for the Association’s members via the Paget’s News magazine.
Procedures for awarding research grants
The Research sub-committee (RSC) is responsible for overall strategy regarding setting an annual budget for research and upon deciding upon the range and types of awards that the Association should support and makes direct recommendations to the Board related to funding of smaller awards (less than £10,000). However, decisions on which larger project grants (typically more than £10,000) should be awarded has been delegated to an external RGC which was established in 2019. To minimise the risk of conflicts of interest, Trustees decided that the RGC should be Chaired by an individual without a specific interest in Paget’s disease and have a membership of scientists and clinicians who do not have a direct research interest in Paget’s disease. All larger grant applications are sent for external peer review and funding decisions made based on the reviewer’s reports and the RGCs assessment of these reports. The RGC then makes a recommendation to the RSC about which grants should be funded and the RSC recommendations are ratified by the board. Through these mechanisms, the Association has a robust and transparent system for awarding grants.
Page 4
Docusign Envelope ID: 24614B88-0E37-4E3C-9419-3C228A098579
National Association for the Relief of Pagets Disease
Trustees' Report (continued)
Financial review
Policy on reserves
In determining an appropriate level of reserves, the Board has continued to consider both operating costs which have historically been relatively stable and the wide variation in annual income which has predominantly arisen from legacies. The Board has agreed that reserves should be in place to cover at least 24 months operating expenditure.
Income in the year was £67,302 (2023: £108,259). The annual operating expenditure in 2024 was £170,037 (2023: £228,400). Expenditure comprised £130,284 (2023: £154,650) for charitable activities and £39,753 (2023: £73,750) for activities related to raising funds. A credit sum of £7,685 was allocated to Research costs due to reduction in research activities that were previously planned. Assets under investment saw a gain in the year of £25,585 (2023: 13,414).
The Board continues to review operating costs to identify and implement potential savings which will enable the Association to meet its policy on reserves.
Net assets amounted to £583,289 at 31 December 2024 (2023: £660,439). The balance of funds held will be invested to generate income to help cover operating costs and to mitigate the uncertainties of reliance on voluntary income and legacies
Investment policy and objectives
The purpose of the investments is both to provide an income return and capital appreciation. The Association's investment policy involves a balance of portfolios.
The Trustees meet our investment managers at least once a year and more often if necessary to discuss management of the Association’s investment income. At the present time, about 70% is in a Cash and Cautious Bond portfolio that is low risk while still offering good returns and reasonable management fees. The remaining 30% of the Association's investment income is in a portfolio that is medium risk. The financial reports are reviewed at each Board meeting to ensure that the investments are performing favourably in terms of the UK Consumer Price Index (CPI) and income generation. The Trustees have an ethical policy not to invest in certain types of companies in view of the nature of the Charity's activities.
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Docusign Envelope ID: 24614B88-0E37-4E3C-9419-3C228A098579
National Association for the Relief of Pagets Disease
Trustees' Report (continued)
Plans for future periods
Activities planned to achieve aims
Patient information events will be held in person in April 2025 in Leicester and in September 2025 in Bath. This supplements the ongoing work to provide content and contact points remotely by phone or on-line methods as well as newsletters through the year. It is our intention to change the status of the Charity to a Charitable Incorporated Organisation (CIO) during 2025 or 2026. A motion to change to CIO status was approved by the membership of the Association at its AGM in 2023 and arrangements are being made to submit our proposal for CIO status to the Charity Commission. The Trustees have noted with concern that legacy income which has traditionally underpinned running of the charity has diminished over the past two years. The charity has already started to focus on fundraising during 2024 to ensure the long-term sustainability of the organisation without the need to charge for services provided. We plan a fundraising campaign called PagetAlert to promote earlier diagnosis and ensure treatment is given in a timely manner. The need for this was highlighted by a survey by the Association that revealed 45% of people with bone pain had waited more than 3 years to be diagnosed since symptom onset. The target is to raise £75,000.
To reach our goal, we will encourage supporters to donate to the charity either directly or by holding events and supporting runners in the London Marathon with a promise of runners each raising at least £1,500 in sponsorship. We also aim to seek new supporters through other channels.
During 2025 we expect to hold three face-to-face board meetings. Two of these will be combined with patient information events to reduce costs. It is our intention to pause new research funding for another year. The Association has also implemented a programme of grant applications from external sources to help fund information events as well as specific activities already undertaken by the charity such as enhancing our use of GoogleAds to reach a wider audience in need of support and/or as sources of donations.
The Trustees plan to review operating costs in relation to income and investments at the end of 2025 to ensure the financial sustainability of the charity is assured in the longer term.
Page 6
Docusign Envelope ID: 24614B88-0E37-4E3C-9419-3C228A098579
National Association for the Relief of Pagets Disease
Trustees' Report (continued)
Structure, governance and management
Nature of governing document
The National Association for the relief of Paget's Disease was founded in 1973. It is an unincoporated association governed by a Constitution and registered with the Charity Commission. During 2009, the charity adopted the working name of The Paget's Association and this is the name to be used in this report.
Structure of the Association
The Board of Trustees is responsible for setting the strategy and policies of the Paget’s Association. The Board has up to twelve members and has three sub-committees. The role of these is to conduct a detailed analysis and review of the areas for which they are responsible, and to give strategic advice to the Board to facilitate delivery of the objectives of the organisation. Recommendations of the sub-committees are reported to and ratified by the Board of Trustees.
Throughout the period, the Finance Sub-Committee was chaired by Eve Berry, the Technology Sub-Committee was chaired by Dr Sheelagh Farrow and the Research Sub-Committee was chaired by Professor Rob Layfield.
Day to day running of the Association
The day to day running of the Charity is undertaken by staff, working remotely to save on operating costs and in recognition of the change in working practices in recent years. Currently, the Association employs two full-time members of staff. These are an Operations and Engagement Manager and a Specialist Nurse and Director of Educational Resources. Employees of the Association are line-managed by the Chairman of the Association who conducts annual staff appraisals to review performance against objectives for the previous year and to set objectives for the coming year. The organisational structure of the charity as of 31st December 2024 is shown in Figure 1.
Page 7
Docusign Envelope ID: 24614B88-0E37-4E3C-9419-3C228A098579
National Association for the Relief of Pagets Disease
Trustees' Report (continued)
Figure 1. Organisational Structure of the Paget’s Association
Recruitment and appointment of trustees
Advertisements for trustees are posted on the website of the Association when a position becomes available. Prospective trustees may apply by contacting the Chairman of Association by letter or email. Their suitability for appointment is then discussed by the Board of trustees. If the prospective candidate is thought to be eligible to act as a trustee and is thought to offer expertise that would benefit the charity, an informal interview is set up with the Chair and other representatives of the Board. If the prospective candidate is felt to be suitable for appointment following this procedure their name is put forward to members of the Association for election at an upcoming Annual General Meeting of the Association. The prospective trustee may then be appointed based on votes cast by members of the Association.
Induction and training of trustees
New trustees are provided with a one-to-one training session by the Chairman of the Board of Trustees who provides an overview of the duties of a trustee, the aims of the charity, the charity’s structure and practical aspects relevant to its day-to-day operation. Additional training sessions are organised with the chairs of the Finance Sub-committee, the Research Sub-committee and the Technology Sub-committee. New trustees also have the option of attending training courses on the responsibilities of charity trustees.
Major risks and management of those risks
The Trustees have examined the major strategic, business and operational risks that the Association faces and confirm that policies have been established to ensure regular monitoring and reporting. This will allow for timely intervention when necessary to lessen these risks.
The annual report was approved by the trustees of the charity on 30 May 2025 and signed on its behalf by:
......................................... Professor Stuart Ralston Trustee
Page 8
Docusign Envelope ID: 24614B88-0E37-4E3C-9419-3C228A098579
National Association for the Relief of Pagets Disease
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the charity on 30 May 2025 and signed on its behalf by:
......................................... Professor Stuart Ralston Trustee
Page 9
Docusign Envelope ID: 24614B88-0E37-4E3C-9419-3C228A098579
National Association for the Relief of Pagets Disease
Independent Examiner's Report to the trustees of National Association for the Relief of Pagets Disease
I report to the trustees on my examination of the accounts of National Association for the Relief of Pagets Disease for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity trustees of National Association for the Relief of Pagets Disease 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 National Association for the Relief of Pagets Disease's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
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 National Association for the Relief of Pagets Disease as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting 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.
...................................... Helen Binns FCA
Beever and Struthers One Express 1 George Leigh Street Manchester M4 5DL
04-Jun-2025 Date:.............................
Page 10
Docusign Envelope ID: 24614B88-0E37-4E3C-9419-3C228A098579
National Association for the Relief of Pagets Disease
Statement of Financial Activities for the Year Ended 31 December 2024
| Note Income and Endowments from: Donations and legacies 2 Other trading activities 3 Investment income 4 Total income Expenditure on: Raising funds 5 Charitable activities 6 Total expenditure Losses/(gains) on investment assets Net expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 18 |
Unrestricted funds 2024 £ 40,517 20,392 6,393 67,302 39,753 130,284 170,037 (25,585) (77,150) (77,150) 660,439 583,289 |
Unrestricted funds 2023 £ 50,751 39,272 18,236 |
|---|---|---|
| 108,259 | ||
| 73,750 154,650 |
||
| 228,400 (13,414) |
||
| (106,727) | ||
| (106,727) 767,166 |
||
| 660,439 |
All of the charity's activities derive from continuing operations during the above two periods.
The prior year Statement of Financial Activities is shown on page 23.
The notes on pages 13 to 24 form an integral part of these financial statements. Page 11
Docusign Envelope ID: 24614B88-0E37-4E3C-9419-3C228A098579
National Association for the Relief of Pagets Disease
(Registration number: 266071) Balance Sheet as at 31 December 2024
| Note Fixed assets Intangible assets 12 Tangible assets 13 Investments 14 Current assets Debtors 15 Cash at bank and in hand 16 Creditors: Amounts falling due within one year 17 Net current liabilities Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 18 |
2024 £ 29,170 1,203 602,517 632,890 23,628 56,216 79,844 (129,445) (49,601) 583,289 583,289 583,289 |
2023 £ 41,526 1,416 674,921 |
|---|---|---|
| 717,863 | ||
| 80,403 48,273 |
||
| 128,676 (186,100) |
||
| (57,424) | ||
| 660,439 | ||
| 660,439 | ||
| 660,439 |
The financial statements on pages 11 to 24 were approved by the trustees, and authorised for issue on 30 May 2025 and signed on their behalf by:
......................................... Professor Stuart Ralston Trustee
The notes on pages 13 to 24 form an integral part of these financial statements. Page 12
Docusign Envelope ID: 24614B88-0E37-4E3C-9419-3C228A098579
National Association for the Relief of Pagets Disease
Notes to the Financial Statements for the Year Ended 31 December 2024
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
National Association for the Relief of Pagets Disease meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Page 13
Docusign Envelope ID: 24614B88-0E37-4E3C-9419-3C228A098579
National Association for the Relief of Pagets Disease
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Grant expenditure
Grants payable are payments made to third parties in furtherance of the Charities' objects. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant awarded. This notification gives the recipient a reasonable expectation that they will receive the grant.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
Taxation
The charity is exempt from tax on income and gains falling within section 5050 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
Intangible assets
Intangible assets are stated in the Balance Sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.
Amortisation
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:
Asset class Amortisation method and rate Website/CRM Database 5 year straight line
Tangible fixed assets
Individual fixed assets costing £100.00 or more are initially recorded at cost.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class
Fixed and fittings
Depreciation method and rate 15% reducing balance
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Docusign Envelope ID: 24614B88-0E37-4E3C-9419-3C228A098579
National Association for the Relief of Pagets Disease
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
Fixed asset investments
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due.
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of investments which are recognised at market value.
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Docusign Envelope ID: 24614B88-0E37-4E3C-9419-3C228A098579
National Association for the Relief of Pagets Disease
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
2 Income from donations and legacies
| 2 Income from donations and legacies |
||
|---|---|---|
| Donations and legacies; Donations from individuals Legacies Gift aid reclaimed Grants, including capital grants; Grants from other charities |
Unrestricted funds 2024 £ 8,438 33,083 1,933 (2,937) 40,517 |
Unrestricted funds 2023 £ 16,981 17,040 13,793 2,937 |
| 50,751 |
3 Income from other trading activities
| 3 Income from other trading activities |
||
|---|---|---|
| Trading income; 200 Club Membership subscriptions Sundry Merchandise Sundry Fundraising 4 Investment income Interest receivable and similar income; Interest receivable on bank deposits Other income from fixed asset investments |
Unrestricted funds 2024 £ 4,525 4,435 27 11,405 20,392 Unrestricted funds 2024 £ 1,264 5,129 6,393 |
Unrestricted funds 2023 £ 4,640 4,165 38 30,429 |
| 39,272 | ||
| Unrestricted funds 2023 £ 2,856 15,380 |
||
| 18,236 |
Page 16
Docusign Envelope ID: 24614B88-0E37-4E3C-9419-3C228A098579
National Association for the Relief of Pagets Disease
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
5 Expenditure on raising funds
| Costs of trading activities Investment management costs Costs of trading activities Investment management costs |
Direct costs £ 5,021 3,413 8,434 Direct costs £ 29,154 6,026 35,180 |
Allocated support costs £ 31,319 - 31,319 Allocated support costs £ 38,570 - 38,570 |
Unrestricted funds 2024 £ 36,340 3,413 |
|---|---|---|---|
| 39,753 | |||
| Unrestricted funds 2023 £ 67,724 6,026 |
|||
| 73,750 |
6 Expenditure on charitable activities
| Support and raising awareness Research Support and raising awareness Research |
Activity undertaken directly £ 51,186 - 51,186 Activity undertaken directly £ 42,205 - 42,205 |
Grant funding of activity £ - (21,495) (21,495) Grant funding of activity £ - 4,060 4,060 |
Activity support costs £ 86,783 13,810 100,593 Activity support costs £ 96,817 11,568 108,385 |
2024 £ 137,969 (7,685) |
|---|---|---|---|---|
| 130,284 | ||||
| 2023 £ 139,022 15,628 |
||||
| 154,650 |
Page 17
Docusign Envelope ID: 24614B88-0E37-4E3C-9419-3C228A098579
National Association for the Relief of Pagets Disease
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
7 Analysis of governance and support costs
Support costs allocated to charitable activities
| Support costs allocated to charitable activities | |||
|---|---|---|---|
| Basis of allocation Staff costs Staff time Office costs Staff time Staff training Staff time IT costs Staff time Depreciation Staff time Bank charges Staff time Insurance Staff time Cost of trustee meetings Staff time Accountancy fees Staff time Book-keeping costs Staff time Basis of allocation Staff costs Staff time Office costs Staff time Staff training Staff time IT costs Staff time Depreciation Staff time Bank charges Staff time Insurance Staff time Cost of trustee meetings Staff time Accountancy fees Staff time Book-keeping costs Staff time |
Governance costs £ 13,047 - - - - - - 5,969 3,307 - 22,323 Governance costs £ 4,236 - - - - - - 6,572 3,059 - 13,867 |
Support costs £ 81,126 7,560 95 2,449 12,568 64 2,352 - - 3,375 109,589 Support costs £ 97,816 13,428 143 2,960 12,606 325 2,165 - - 3,645 133,088 |
Unrestricted funds 2024 £ 94,173 7,560 95 2,449 12,568 64 2,352 5,969 3,307 3,375 |
| 131,912 | |||
| Unrestricted funds 2023 £ 102,052 13,428 143 2,960 12,606 325 2,165 6,572 3,059 3,645 |
|||
| 146,955 |
Page 18
Docusign Envelope ID: 24614B88-0E37-4E3C-9419-3C228A098579
National Association for the Relief of Pagets Disease
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
8 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any other benefits from the charity during the year.
During the year travel and subsistence expenses totalling £4,625 (2022: £4,873) were reimbursed or paid directly to six trustees (2023: ten trustees).
9 Staff costs
The aggregate payroll costs were as follows:
| Staff costs during the year were: Wages and salaries Social security costs Pension costs |
2024 £ 83,551 3,968 6,654 94,173 |
2023 £ 90,601 4,203 7,248 |
|---|---|---|
| 102,052 |
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
| Charitable activities | 2024 No 2 |
2023 No 2 |
|---|---|---|
No employee received emoluments of more than £60,000 during the year.
10 Independent examiner's remuneration
| Examination of the financial statements Other fees to examiners All other services |
2024 £ 1,300 2,007 |
2023 £ 1,260 |
|---|---|---|
| 1,799 |
11 Taxation
The income and gains of the charity are exempt from taxation to the extent that they are applied to its charitable objectives.
Page 19
Docusign Envelope ID: 24614B88-0E37-4E3C-9419-3C228A098579
National Association for the Relief of Pagets Disease
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
12 Intangible fixed assets
| Cost At 1 January 2024 At 31 December 2024 Amortisation At 1 January 2024 Charge for the year At 31 December 2024 Net book value At 31 December 2024 At 31 December 2023 13 Tangible fixed assets Cost At 1 January 2024 At 31 December 2024 Depreciation At 1 January 2024 Charge for the year At 31 December 2024 Net book value At 31 December 2024 At 31 December 2023 |
Website/CRM Database £ 61,781 61,781 20,255 12,356 32,611 29,170 41,526 Furniture and equipment £ 3,776 3,776 2,360 213 2,573 1,203 1,416 |
Total £ 61,781 |
|---|---|---|
| 61,781 | ||
| 20,255 12,356 |
||
| 32,611 | ||
| 29,170 | ||
| 41,526 | ||
| Total £ 3,776 |
||
| 3,776 | ||
| 2,360 213 |
||
| 2,573 | ||
| 1,203 | ||
| 1,416 |
Page 20
Docusign Envelope ID: 24614B88-0E37-4E3C-9419-3C228A098579
National Association for the Relief of Pagets Disease
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
14 Fixed asset investments
| Cost or Valuation At 1 January 2024 Revaluation Additions Disposals At 31 December 2024 Net book value At 31 December 2024 At 31 December 2023 |
Listed investments £ 646,606 25,585 31,914 (109,152) 594,953 594,953 646,606 |
Cash held with investors £ 28,315 79,249 - (100,000) 7,564 7,564 28,315 |
Total £ 674,921 104,834 31,914 (209,152) |
|---|---|---|---|
| 602,517 | |||
| 602,517 | |||
| 674,921 |
15 Debtors
| Prepayments Accrued income 16 Cash and cash equivalents Cash at bank |
2024 £ 628 23,000 23,628 2024 £ 56,216 |
2023 £ 782 79,621 |
|---|---|---|
| 80,403 | ||
| 2023 £ 48,273 |
Page 21
Docusign Envelope ID: 24614B88-0E37-4E3C-9419-3C228A098579
National Association for the Relief of Pagets Disease
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
17 Creditors: amounts falling due within one year
| 17 Creditors: amounts falling due within one year | ||
|---|---|---|
| Trade creditors Other taxation and social security Grants payable Accruals |
2024 £ 128 2,206 124,374 2,737 129,445 |
2023 £ 5,332 1,868 176,485 2,415 |
| 186,100 |
18 Funds
| 18 Funds | |||||
|---|---|---|---|---|---|
| Unrestricted funds General Unrestricted funds General |
Balance at 1 January 2024 £ 660,439 Balance at 1 January 2023 £ 767,166 |
Incoming resources £ 67,302 Incoming resources £ 108,259 |
Resources expended £ (170,037) Resources expended £ (228,400) |
Other recognised gains/(losses) £ 25,585 Other recognised gains/(losses) £ 13,414 |
Balance at 31 December 2024 £ 583,289 |
| Balance at 31 December 2023 £ 660,439 |
Page 22
Docusign Envelope ID: 24614B88-0E37-4E3C-9419-3C228A098579
National Association for the Relief of Pagets Disease
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
19 Analysis of net assets between funds
| Intangible fixed assets Tangible fixed assets Fixed asset investments Current assets Current liabilities Total net assets Intangible fixed assets Tangible fixed assets Fixed asset investments Current assets Current liabilities Total net assets |
Unrestricted funds General £ 29,170 1,203 602,517 79,844 (129,445) 583,289 Unrestricted funds General £ 41,526 1,416 674,921 128,676 (186,100) 660,439 |
Total funds at 31 December 2024 £ 29,170 1,203 602,517 79,844 (129,445) |
|---|---|---|
| 583,289 | ||
| Total funds at 31 December 2023 £ 41,526 1,416 674,921 128,676 (186,100) |
||
| 660,439 |
20 Related party transactions
There were no related party transactions in the year.
Page 23
Docusign Envelope ID: 24614B88-0E37-4E3C-9419-3C228A098579
National Association for the Relief of Pagets Disease
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
21 Prior year Statement of Financial Activities
| Income and Endowments from: Donations and legacies Other trading activities Investment income Total income Expenditure on: Raising funds Charitable activities Total expenditure Losses/(gains) on investment assets Net expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted funds 2023 £ 50,751 39,272 18,236 |
|---|---|
| 108,259 | |
| 73,750 154,650 |
|
| 228,400 (13,414) |
|
| (106,727) | |
| (106,727) 767,166 |
|
| 660,439 |
Page 24