2021-12-31-accounts - The Humane Research Trust

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		Page
Report o f the Trustees	1	to	7
Report o f the Independent Auditors	8	to	10
Statement o f Financial Activities		11
Balance Sheet		12
Cash Flow Statement		13
Notes to the Cash Flow Statement		14
Notes to the Financial Statements	15	to	24
Detailed Statement o f Financial Activities	25	to	26

					2021	2020
			Unrestricted	Restricted	Total	Total
			fund	funds	funds	funds
		Notes	£	£	£	£
	INCOME AND ENDOWMENTS FROM
	Donations and legacies	2	1,205,874		1,205,874	700,161
	Other trading activities	3	18,310		18,310	18,732
	Investment incomc	4	6,118		6,118	12,767
	Total		1,230,302		1,230,302	731,660
	EXPENDITURE ON
	Raising funds	5	53,896		53,896	55,558
	Charitable activities	6
	Grants		371,242		371,242	460,618
	Governance related		50,778		50,778	53,016
.	Other support costs
			38,175		38,175	38,067
	Total		514,091	−	514,091	607,259
	Net gains on investments		107,535	−	107,535
	NET INCOME		823,746	−	823,746	124,401
	Transfers between funds	16	1,351	(1,351)
	Net movement in funils		825,097	(1,351)	823,746	124,401
	RECONCILIATION O F FUNDS
	Total funds brought forward		3,194,482	34,568	3,229,050	3,104,649
	TOTAL FUNDS CARRIED FORWARD		4,019,579	33,217	4,052,796	3,229,050

				2021	2020
		Unrestricted	Restricted	Total	Total
		fund	funds	funds	funds
	Notes	£	£	£	£
FIXED ASSETS
Tangible assets	11	13,936	33,117	47,053	49,913
Investments	12	1,607,535		1,607,535	−
		1,621,471	33,117	1,654,588	49,913
CURRENT ASSETS
Stocks	13	3,360		3,360	3,620
Debtors	14	45,774		45,774	27,082
Cash at bank and in hand		2,476,499	100	2,476,599	3,357,351
		2,525,633	100	2,525,733	3,388,053
CREDITORS
Amounts falling due within one year	15	(127,525)		(127,525)	(208,916)
NET CURRENT ASSETS		2,398,108	100	2,398,208	3,179,137
TOTAL ASSETS LESS CURRENT	LIABILITIES	4,019,579	33,217	4,052,796	3,229,050
NET ASSETS		4,019,579	33,217	4,052,796	3,229,050
FUNDS	16
Unrestricted funds				4,019,579	3,194,482
Restricted funds				33,217	34,568
TOTAL FUNDS				4,052,796	3,229,050

		2021	2020
	Notes
Cash flows from operating activities
Cash generated from operations	1	614,931	518,009
Net cash provided by operating activities		614,931	518,009
Cash flows from investing activities
Purchase o f tangible fixed assets		(407)	(8,139)
Purchase o f fixed asset investments		(1,500,000)
Interest received		4,724	12,767
Net cash (used in)/provided by investing activities		(1,495,683)	4,628
Change in cash and cash equivalents in the
reporting period		(880,752)	522,637
Cash and cash equivalents at the beginning of
the reporting period		3,357,351	2,834,714
Cash and cash equivalents at the end of the
reporting period		2,476,599	3,357,351

I.	RECONCILIATION O F NET INCOME T O NET CASH FLOW FROM OPERATING ACTIVITIES	RECONCILIATION O F NET INCOME T O NET CASH FLOW FROM OPERATING ACTIVITIES	RECONCILIATION O F NET INCOME T O NET CASH FLOW FROM OPERATING ACTIVITIES
			2021	2020
	Net income for the reporting period (as per the Statement o f Financial
	Activities)		823,746	124,401
	Adjustments for:
	Depreciation charges		3,268	2,200
	Losses on investments		(107,535)
	Interest received		(4,724)	(12,767)
	Decrease in stocks		260	4,116
	(Increase)/decrease in debtors		(18,692)	423,598
	Decrease in creditors		(81,392)	(23,539)
	Net cash provided by operations		614,931	518,009
2.	ANALYSIS OF CHANGES IN NET FUNDS
		At 1.1.21	Cash flow	At 31.12.21
	Net cash
	Cash at bank and in hand	3,357,351	(880,752)	2,476,599
		3,357,351	(880,752)	2,476,599
	Total	3,357,351	(880,752)	2,476,599

2.	DONATIONS AND LEGACIES
		2021	2020
	Donations	52,633	58,765
	Gift aid	5,409	5,679
	Legacies	1,147,832	517,943
	Exceptional items		117,774
		1,205,874	700,161
3.	OTHER TRADING ACTIVITIES
		2021	2020
	Shop income	18,310	18,732
4.	INVESTMENT INCOME
		2021	2020
	Investment income	1,394
	Deposit account interest	4,724	12,767
		6,118	12,767
S.	RAISING FUNDS
	Raising donations and legacies
		2021	2020
	Postage and stationer).	1,401	2,856
	Subscriptions	1,398	362
	Support costs	41,026	41,177
		43,825	44,395

Other tra	ding activities
		2021	2020
Purchases		10,071	11,163
Aggregate	amounts	53,896	55,558

CHARITABLE ACTIVITIES
		Grant
		funding of
		activities	Support
	Direct	(see note	costs (see
	Costs	7)	note 8)	Totals
	f	f	f	f
Grants	1,375	369,867	−	371,242
Governance related	−		50,778	50,778
Other support costs
			38,175	38,175
	1,375	369,867	88,953	460,195

GRANTS PAYABLE
	2021	2020
Grants	369,867	460,618
Reconciliation o f grants payable
	2021	2020
Commitments at 1 January 2021 (note 15)	188,374	215,527
Commitments made in the year	369,867	460,618
Grants paid during the year	(442,780)	(487,771)
Commitments at 31 December 2021 (note 15)	115,461	188,374

Name and address o f recipient	Purpose o f grant	Amount
institutions
Prof IM Wonnstone,School of	Funding the I lumane Research Trust laboratory; tissue culture	159,016
I3iological Sciences,University o f East	human lens epithelial cells.
Anglia
Dr M Williams,School o f Biological	Development o f a xeno−free living human intestinal tissue bank	25,016
Sciences,University o f East Anglia	and next generation 3D culture systems for the investigation o f gut
	health and disease.
	Designer human intestinal organoids for the study o f colon cancer	(841)
	prevention.
	I luman mini intestines to study gut health and disease.	49,624
Prof kVD Fraser,Norwich Medical	Single cell RNA sequencing in childhood bone cancer circulating	24,306
School,University o f East Anglia	tumour cells.
Dr Gavrilovic,Norwich Medical	Reasons for poor wound healing in diabetic patients.	8,978
School,University o f East Anglia
Prof L Paraoan,Department o f Eye and	At the crossroads o f apoptosis and inflammatory pathways. How	23,620
Vision Science,University o f I.iverpool	does PERP function as a key junction.
Dr N llodges,School o f	Understanding the role o f cytoglobin in cancer cell resistance to	36,299
I3iosciences,University o f Birmingham	cisplatin.
Prof M Coleman,School o f Life and	Development o f a human in vitro model for the role o f the	38,576
Health.Scienees,Aston University	immune system in Huntington's disease using human induced
	pluripotent stem cells.
Dr R Thompson,Department o f Oncology	Developing new ways to battle cancer drug resistance.	5,273
and Metabolism, Sheffield University
		369,867
Contingent liabilities settled during the	year	442,780

SUPPORT COSTS
		Support		General
		costs	Consulting	postage
		£	£	£
Raising donations and legacies		13,617	423	2,038
Governance related		13,222	6,328	1,222
Other support costs
		13,222	1,687	815
		40,061	8,438	4,075
		Advertising
		and	Governance
	Staff Costs	publicity	costs	Totals
	f	£	f	£
Raising donations and legacies	22,504	2,444	−	41,026
Governance related	21,840	−	8,166	50,778
Other Support costs
	21,840	611		38,175
	66,184	3,055	8,166	129,979
Activity	Basis of allocation
Support costs	Staff tiine/Specific
Consulting	Staff time/Specific
General postage	Staff time/Specific
Staff Costs	Staff time
Advertising and publicity	Specific
Depreciation	Staff time/Specific
Governance costs	Specific

STAFF COSTS
	2021	2020
Wages and salaries	62,286	75,470
Social security costs	1,967	2,311
Other pension costs	1,931	2,195
	66,184	79,976
The average monthly number o f employees during the year was as follows:
	2021	2020
Administration	2	3

	Freehold		Office
	property		equipment	Totals
				f
COST				.
At 1 January2021	67,546		17,774	85,320
Additions			407	407
At 31 December 2021	67,546		18,181	85,727
		.
DEPRECIATION
At 1 January 2021	26,828		8,579	35,407
Charge for year	1,351		1,916	3,267
At 31 December 2021	28,179		10,495	38,674
NET BOOK VALUE
At 31 December 2021	39,367		7,686	47,053
At 31 December 2020	40,718		9,195	49,913

FIXED ASSET INVESTMENTS
	Listed
	investments
MARKET VALUE
Additions	1,500,000
Revaluations	107,535
At 31 December 2021	1,607,535
NET BOOK VALUE
At 31 December 2021	1,607,535
At 31 December 2020

Cost or va	lua	tion at 31 December 2021 is represented by:
			Listed
			investments
Valuation	in	2021	107,535
Cost			1,500,000
			1,607,535

		2021	2020
Cost		1,500,000
Aggregate	provisions	(107,542)

				2021	2020
	Stocks			3,360	3,620
14.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
				2021	2020
	Trade debtors				2,520
	Prepayments and accrued income			_ 42,983	21,962
	Prepayments			2,791	2,600
				45,774	27,082
15.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
				2021	2020
	Trade creditors			1,953	9,360
	Social security and other taxes			1,459	2,290
	VAT			2,236	770
	Grants payable			115,461	188,374
	Pensions payable			116	252
	Accruals and deferred income			6,300	7,870
				127,525	208,916
16.	MOVEMENT IN FUNDS
			Net	Transfers
			movement	between	At
		At 1.1.21	in funds	funds	31.12.21
		f	f	f	f
	Unrestricted funds
	General fund	3,194,482	823,746	1,351	4,019,579
	Restricted funds
	Property Reserve	34,468		(1,351)	33,117
	Trust Fund	100			100
		34,568		(1,351)	33,217
	TOTAL FUNDS	3,229,050	823,746		4,652,796

	Incoming	Resources		Gains and	Movement
	resources	expended		losses	in funds
	f	£		f	f
Unrestricted funds
General fund	1,230,302	(514,091)		107,535	823,746
TOTAL FUNDS	1,230,302	(514,091)		107,535	823,746
Comparatives for movement in funds
		Net		Transfers
		movement	•	between	At
	At 1.1.20	in funds		funds	31.12.20
	£	f		f	f
Unrestricted funds
General fund	3,071,481	124,401		(1,400)	3,194,482
Restricted funds
Property Reserve	33,068	−		1,400	34,468
Trust Fund	100				100
	33,168			1,400	34,568
TOTAL FUNDS	3,104,649	124,401			3,229,050
Comparative net movement in funds, included in the above arc as follows:
		Incoming	Resources		Movement
		resources		expended	in funds
		£		f	f
Unrestricted funds
General fund		731,660		(607,259)	124,401
TOTAL FUNDS		731,660		(607,259)	124,401

		Net	Transfers
		movement	between	At
	At 1.1.20	in funds	funds	31.12.21
	f	f	f	f
•Unrestricted funds
General fund	3,071,481	948,147	(49)	4,019,579
Restricted funds
Property Reserve	33,068		49	33,117
Trust Fund	100			100
	33,168		49	33,217
TOTAL FUNDS	3,104,649	948,147		4,052,796

	Incoming	Resources	Gains and	Movement
	resources	expended	losses	in funds
	£	f	f	£
Unrestricted funds
General fund	1,961,962	(1,121,350)	107,535	948,147
TOTAL FUNDS	1,961,962	(1,121,350)	107,535	948,147

Brought forward at 1 January 2021	598,399
New commitments awarded in the year	899,818
Grants paid in the year (note 7)	(369,867)
Commitments revoked in the year	(19,710)
Carried forward at 31 December 2021	1,108,640

	2021	2020
INCOME AND ENDOWMENTS
Donations and legacies
Donations	52,633	58,765
Gin aid	5,409	5,679
Legacies	1,147,832	517,943
Exceptional items		117,774
	1,205,874	700,161
Other trading activities
Shop income	18,310	18,732
Investment income
Investment income	1,394
Deposit account interest	4,724	12,767
	6,118	12,767
Total incoming resources	1,230,302	731,660
EXPENDITURE
Raising donations and legacies
Postage and stationer),	1,401	2,856
Subscriptions	1,398	362
	2,799	3,218
Other trading activities
Purchases	10,071	11,163
Charitable activities
Legal fees	1,375
Grants to institutions	369,867	460,618
	371,242	460,618
Support costs
Support costs
Rates and water	2,521	3,000
Insurance	3,334	2,776
Light and heat	1,717	798
Telephone	3,099	2,819
Postage and stationery	5,474	1,401
Sundries	3,406	.4,114
Consulting		100
IT software and consumables	2,817	2,139
Subscriptions	113
Carried forward	22,481	17,147

		2021	2020
	Support costs
	Brought forward	22,481	17,147
	Repairs and maintenance	9,043	1,591
	Travel expenses	396	24
	Cleaning	486	434
	Bank Charges	4,387	2,274
	Freehold property	1,351	1,400
•	Office equipment	1,917	800
		40,061	23,670
	Consulting
	Consulting	8,438	11,306
	General postage.
	Postage and stationery	2,721	3,500
	Postage operating lease	1,354
		4,075	3,500
	Staff Costs
	Wages	62,286	75,470
	Social security	1,967	2,311
	Pensions	1,931	2,195
		66,184	79,976
	Advertising and publicity
	Advertising	3,055	4,523
	Governance costs
	Auditors' remuneration	7,965	6,250
	Auditors' remuneration for non audit work		2,635
	Travel	7	400
	Trustee meetings	194
		8,166	9,285
	Total resources expended	514,091	607,259
	Net income	716,211	124,401