The Eleanor Peel Chair of Geriatrics
Annual Report and Financial Statements for the Year Ended 31 July 2024
(Registered Charity Number 269749)

The Eleanor Peel Chair of Geriatrics
Annual Report and Financial Statements for the year ended 31 July 2024
Contents
Page
Trustees Annual Report
Trustees, Responsibilities statement
Trustees, Officers and Academic Appointments
Report of the Independent Auditor to the Trustees
Accounting Policies
10
Statement of Financial Activities
Slalement of Financial Position
13
Notes to the Financial Statements
14

The Eleanor Peel Chair of Geriatrics
Annual Report and Financial Statements for the year ended 31 July 2024
Trustees, Annual Report for the year ended 31 July 2024
Introduction
The Iruslees present their report along with the financial statements of the Charity for the year
ended 31 July 2024. The financial statements have been prepared in accordance with
applicable law as detailed in the accounting policies on page 10 and 11 of this report.
Objects of the Charity
The objects of the Charity are..
a) to encourage the study and teaching of geriatrics and
bl lo foster research into the problems of ageing and to disseminate the results of this
research and to improve the training of doctors in the care of the elderly
Organisational structure and Governance
The principal activity of the Charity, which was established in 1975, Gharity registration number
269749, is to contribute towards the costs of The Eleanor Peel Chair of Geriatrics at st
George's University of London (SGUL).
The portfolio is managed on behalf of the trustees as part of SGUL'S inveslmeni Portfolio.
Oversight of the investment of these funds is through SGUL'S Finance Committee, which in
turn receives professional investment advice from Cazenove Fund Management.
There are no restrictions to the Charity's powers to invest.
The Charity does not invite donations from members of the public.
Management
New trustees are appointed by existing trustees in accordan￿ with Section 20 of the Trust
Deed. There are no formal policies for the induction or training of new trustees, although the
sec￿tary does disseminate relevant information to new trustees including minutes.
The trLJslees meet at least once in each academic year. The usual place of meeting is SGUL.
The Charity makes use ofthe resources and assets of SGUL in order to carry out its objects.
Review of financial activities, investment policy and future plans.
The Charity's income is derived from a portfolio of investment5, which, at the year-end, were
valued at £2,100,184 {2023. £1,858,550). The fund generated income of £86,435 (2023..
£62.419} and a gain on investments of £104,96012023'. loss of £17,564) Endawment funds
were £1,836,975 (2023.. £1,732,015) and restricted funds were £302,060 {2023'. £295,411).
The Charity's investment return contributes towards the salary and emoluments of the Eleanor
Peel Chair of Geriatrics to enable research into the problems of ageing and to improve and
encourage the study and leaching of geriatrics and the care ol the elderly.
As the portfolio is managed by SGUL its investment strategy is set as part of the overall
portfolio strategy with the aim of maintaining capital whilst delivering sufficient income to
contribute to the costs of SGUL.
There are no planned changes to the activities in the foreseeable future.

The Eleanor Peel Chair of Geriatrics
Annual Report and Financial Statements for the year ended 31 July 2024
Trustees, Annual Report for the year ended 31 July 2024 (continued)
Reserves policy
Reserves should be maintained at a minimum of one year's expected salary costs for the
Eleanor Peel Chair of Geriatrics.
The restricted income fund is currently four times the minimum required at £302,060 and total
funds are £2,139,035. There are no plans to actively redu￿ the reserves to get closer to the
minimum.
Risk Management
The trustees have examined the main strategic, business and operational risks which the
Charity faces.
The Eleanor Peel Chair of Geriatrics is recruited by managemenl of SGUL who have relevant
expertise in academic and clinical appointments.
Risks related to the fund investments. are mitigated by engagement of a professional firm of
fund managers.
Public Benefit Statement
The trustees confirm that they have complied with the duty in section 4 of the Charities Act
2011 to have due regard to public benefit guidance published by the Charity Commission in
determining the activities undertaken by the charity.
By contributing to the salary costs of the Eleanor Peel Chair of Geriatrics the Charity has
achieved its objects of fostering research into the problems of ageing and disseminating the
results of this research and encouraging the sludy and teaching of geriatrics.
Going Concern
The trustees are confident that the Charity will maintain net gains on its diverse portfolio
investments in the foreseeable future and that the income generated from these will be
sufficient to cover the Charity's costs on an ongoing basis and maintain the reserves in line
with the reserves policy. The Charity has expendable rese￿eS (the restricted income fund) of
£302,060. net current assets of £38,851 and sufficient cash to meet its obligations as they fall
due, along with investments of over £2.1 m. The trustees are therefore of the view that the
Charity is a going concern.

The Eleanor Peel Chair of Geriatrics
Annual Report and Financlal Statements for the year ended 31 July 2024
Trustees, Responsibilities Ststement
The trustees are responsible for preparing the Trustees, Annual Report and the financial
statements in accordance with applicable law and regulations.
The Charities Act 2011 require5 the trustees to prepare financial statements for each financial
year. The trustees have to prepare the financial statements in accordance with United
Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards
and applicable law}. Under charity law the trustees must not approve the financial statements
unless they are satisfied that they give a true and fair view of the stale of affairs of the charity
and of the incoming resour￿$ and application of resources, inclLJding the income and
expenditure, 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.,
make judgments and accounting estimates that are reasonable and prudent",
state whether applicable UK Accounting Standards have been followed, subject to any
material departures disclosed and explained in the financial statements.,
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 adequate accounting records that are sufficient to
show and explain the charity's transactions and 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. They are also responsible for safeguarding the assets of
the charity and hence for taking reasonable steps for the prevention and detedion of fraud
and other irregularities.
The trustees confirm thal..
so far as each trustee is aware, there is no relevant audit information of which the charity's
auditor is unaware., and
trustees have taken all of the steps that they ought to have taken as trustees in order to
make themselves aware of any relevant audit information and to establish that the
charity's auditor is aware of that infomation.
Susan McPheal
Trustee
Date..
4gliilty-
St George's, University of London
Cranmer Terrace
Tooting
London SW17 ORE

The Eleanor Peel Chair of Geriatrics
Annual Report and Financial Statements for the year ended 31 July 2024
Trustees, officers and academic appointments for the year ended 31 July 2024
Legal and administrative details
The Trust is a registered charity. Its registered number is 269749.
Trustees
The following Trustees have served during or subsequent to the financial year and to the date
of these financial statements..
Ms Cerys Ledger from 51112024
Dr Julie Leeming
Ms Susan McPheat
Principal Office
The principal office of the charity is:
Sl George's. University of London
Cranmer Terrace
London
SW17 ORE
Auditor
BDO LLP
City Place, 2 Beehive Ring Road,
Gatwick
RH6 OPA
Investment Manager
Cazenove Fund Management Limited
1 London Wall Place
London
EC2Y SAU

The Eleanor Peel Chair of Geriatrics
Annual Report and Financial Statements for the year ended 31 July 2024
Independent auditor's report to the trustees of The Eleanor Peel Chair of Geriatrics
Opinion on the financial statements
In our opinion, the financial statements..
give a true and fair view of the state of the Chzrity's affairs as at 31 July 2024 and of ils
incoming resources and application of resources for the year then ended.,
have been properly prepared in accordan￿ with United Kingdom Generally Accepted
Accounting practi￿., and
have been prepared in accordance with the requirements of the Charities Act 2011.
We have audited the financial statements of The Eleanor Peel Chair of Geriatrics I'the
Charity") for the year ended 31 July 2024 which comprise the Statement of Financial Activities,
the Statement of Financial Position and notes to the financial statements, including a summary
of significant accounting policies. The financial reporting framework that has been applied in
their preparation is applicable law and United Kingdom Accounting Standards, including
Financial Reporting Standard 102 Th8 FinanGial Reporting Standard applicable in the UK and
Republic of Ireland (United Kingdom Generally Accepted Accounting Practice)
Basis for opinion
We conducted our audit in accordance with Intemational Standards on Auditing (UK} IISAS
{UK)) and applicable law. Our responsibilities under those standards are further described in
the Auditor's responsibilities for the audit of the financial statements section of our report. We
believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our opinion.
Independence
We remain independent of the Charity in accordan￿ wilh the ethical requirements relevant to
our audil of the financial statements in the UK, including the FRC'S Ethical Standard, and we
have fulfilled our other ethical responsibilities in accordance with these requirements.
Conclusions related to going concern
In auditing the financial statements, we have concluded that the Trustees, use of the going
concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties
relating to events or conditions that, individually or collectively, may cast significant doubt on
the Charity's ability to continue as a going concern for a period of at least twelve months from
when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are
described in the relevant sections of this report.

The Eleanor Peel Chair of Geriatrics
Annual Report and Financial Ststements for the year ended 31 July 2024
Other infomiation
The Trustees are responsible for the other information. The other information comprises the
inforrnation included in the Annual Report and Financial Statements, other than the financial
statements and our auditor's report Ihereon. Our opinion on the financial statements does not
cover the other information and, except to the extent otherwise explicitly stated in our report,
we do not express any form of assurance conclusion thereon. Our responsibility is to read the
other information and, in doing so, consider whether the other infomiation is materially
inconsistent with the financial slatements or our knowledge obtained in the audit or otherwise
appears to be materially misstated. If we identify such malerial inconsistencies or apparent
material misstatements, we are required to detemiine whether there is a material
misstatement in the financial statements themselves. If, based on the work we have
performed. we conclude that there is a material misstatement of this other information, we are
required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities
(Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion.,
the Information given in the Trustees, Report for the financia5 year for which the financial
statements are prepared is inconsistent in any material respect with the financial
statements, or
adequate accounting records have not been kept by the Charity., or
the financial statements are not in agreement with the accounting records and retums., or
we have nol received all the information and explanations we require for our audit.
Responsibilities of Trustees
As explained more fully in the Truslees, responsibilities statement. the Trustees are
responsible for the preparation of the financial statements and for being satisfied that Ihey give
a true and fair view, and for such internal control as Ihe Trustees determine is necessary to
enable the preparation of financial statements that are free from malerial misslalement.
whether due to fraud or error.
In preparing the financial slatements, the Trustees are responsible for assessing the Charity's
ability to continue as a going concern, disclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless the Trustees either intend to
liquidate the Charity or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 ofthe Charities Act 2011 and report in
accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as
a whole are free from material misstatement, whether due to fraud or error, and to issue an
auditor's report that includes our opinion. Reasonable assuran￿ is a high level of assurance,

The Eleanor Peel Chair of Geriatrics
Annual Report and Financial Statements for the year ended 31 July 2024
but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always delect
a material misstatement when it exists. Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they could reasonably be expected to
influence the economic decisions of users taken on the basis of these financial statements.
Extent to which the audit was capable of deteoting irregulanties. including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We
design procedures in line with our responsibilities, outlined above, lo detect material
misstatements in respect of irregularities, including fraud. The extent to which our procedures
are capable of detecting irregularities, including fraud is detailed below-.
Non-compliance m.th laws and regulations
Based on..
Our understanding of the Charity and the sector in which it operates.,
Discussion with management and those charged with governance., and
Obtaining and understanding of the Charity's policies and procedures regarding
compliance with laws and regulations.
we considered the significant laws and regulations to be Charities Act 2011.
The Charity is also subject to laws and regulations where the Consequen￿ of non-
compliance could have a material effect on the amounl or disclosures in the financial
statements, for example through the imposition of fines or litigations.
Our procedures in respect of the above included=
Review of minutes of meeting of those charged with governance for any instances of
non-compliance with laws and regulations.,
Review of correspondence with regulatory and lax authorities for any instances of
non-compliance with laws and regulations,. and
Review of financial statement disclosures and agreeing to supporting documentation.
Fraud
We assessed Ihe susceptibility of the financial statements to material misstatemenl,
including fraud. Our risk assessment procedurÉs included..
Enquiry with management and those charged with governance regarding any known
or suspected instances of fraud.,
Review of minutes of meeting of those charged with governance for any known or
suspected InStan￿S of fraud.,
Discussion amongst the engagement team as to how and where fraud might occur in
the financial statements., and
Perfomiing analytical procedures lo identify any unusual or unexpected relationships
that may indicate risks of material misstatement due to fraud.
Based on our risk assessment, we considered the areas most susceptible to fraud to be the
posting of manual journals and estimation of market value of investments.

The Eleanor Peel Chair of Geriatrics
Annual Report and Financial Statements for the year ended 31 July 2024
Our procedures in respect of the above included..
Testing a sample of joumal entries throughout the year, which mel a defined risk
criteria, by agreeing to supporting documentation.,
Assessing sigriificant estimates made by management for bias, including agreement
of the investment balan￿S to supporting evidence.
We also communicated relevant identrfied laws and regulations and potential fraud risks to
all engagement team members and remained alert to any indication5 of fraud or non-
compliance with laws and regulations throughout the audit.
Our audit procedures were designed lo respond to risks of material misstatement in the
financial statements, recognising that the risk of not detecting a material misslalement due lo
fraud is higher than the risk of not detecting one resulting from error, as fraud may involv8
deliberate COn￿alment by, for exarnple, forgery, misrepresentations or through collusion.
There are inherent limitations in the audit procedures performed and the further removed non-
complian￿ with laws and regulations is from the events and transactions reflected in the
financial statements, the less likely we are to become aware of it.
A further description of our responsibilities for the audit of the financial statements is located
at the Financial Reporting Council's {"FRC's"I website at..
htt s'.Ilww.frc.or
report.
.uklauditorsres
nsibilities. This description forms part of our auditor's
Use of our report
This report is made solely to the Charity's trustees, as a body. in accordance with Part 4 of
the Charities (Accounts and Reports) Regulatians 2008. Our audit work has been undertaken
so that we might state to the Charity's trustees those matters we are required to state to them
in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do
not accept or assume responsibility to anyone other than the Charity and the Charity's trustees
as a body, for our audit work, for this report, or for the opinions we have formed.
DO¢U$￿nId by..
Paula Wi51ock
BDO LLP, statutory auditor
Gatwick, UK
Date..
27 November 2024
BDO LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for
appointment as auditor of a company under section 1212 of the Companies Act 2006.
BDO LLP is a limited liability partnership registered in England and Wales (with registered
number OC3051271.

The Eleanor Peel Chair of Geriatrics
Annual Report and Financlal Statements for the year ended 31 July 2024
Accounting Policies
1. Basis of Preparation
The financial statements have been prepared under the historical cost convention, with
the exception of investments which are included at market value. The financial statements
have been prepared in accordance with the Statement of Recommended Practice..
Accounting and Reporting by Charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland
{FRS102) and the Charities Act 2011. Dividends are included in the Statement of Financial
Activities when receivable.
2. Going concern
The trustees are confident that the Charity will maintain net gains on its diverse portfolio
investments in the foreseeable future and that the income generated from these will be
sufficient to cover the Charity's costs on an ongoing basis and maintain the reserves in
line with the rese￿eS policy. The Charity has expendable resetves (the restricted income
fund) of £302,060, net current assets of £38,851 and sufficient cash to meet its obligations
as they fall due, along with investments of over £2.1 m. The trustees are therefore of the
view that the Charity is a going concern.
3. Inveslments
Investment assets are valued at market value at the statement of financial position dale.
Realised gains and losses on investments are arrived at by comparing the net sale
proceeds with the market value at the end of the previous financial year., unrealised gains
and losses represent the difference between the market value of investments still held at
the end of the financial year wtth their value at the beginning of the year, or with their cost
if purchased subsequently.
4. VAT
The Charity is not registered for VAT and accordingly, where applicable, all costs and
expenditure incurred are inclusive of VAT.
5. Cash flow
The Charity has not prepared a cash flow statement forthe year under review as required
by FRS102. The exemption falls under para B.16 of the Charities SORP 2019 for small
charities.
6. Restricted and endowment funds
Restricted funds are those funds which are generated from endowment fund investments
and which can be spent in accordance with the Trust deed. All endowment funds are
permanent endowment funds, being funds in which the capital is maintained.
7. Expenditure
Expenditure is included on an accruals basis and comprise costs for the running of the
Charity itself as an organisation and the payments to SGUL to support the Eleanor Peel
Chair of Geriatrics.
8. Cash and cash equivalents
10

The Eleanor Peel Chair of Geriatrics
Annual Report and Financial Statements for the year ended 31 July 2024
Cash comprises cash in hand, cash held in investments and deposits repayable on
demand, less overdrafts payable on demand

LULU MO z IJJ

The Eleanor Peel Chair of Geriatrics
Annual Report and Financial Statements for the year ended 31 July 2024
ststement of Financial Position as at 31 July 2024
2024
2023
Notes
Fixed Assets
Investments
2,100,184
1,858.550
Current Assets
Debtors
Cash and cash equivalents
86,435
32,202
62,419
160,541
Liabilities
Creditors
Net Current Assets
79,786
38,851
54,084
168,576
Net Assets
2,139,035
2,027,426
Endowmenl Fund
Restricted Income Fund
1,836,973
302,062
1,732,013
295,413
Total Funds
2139035
2,027,426
The Financial Statements were approved by the trustees and authorised for issue on 25
November 2024
Susan McPheat
Registered Charity number 269749
The accounting policies on pages 10 10 11 and the notes on pages 14 ta 16 form part of these
financial statements.
13

The Eleanor Peel Chair of Geriatrics
Annual Report and Financial Statements for the year ended 31 July 2024
Notes to the Financial Ststements
1. Emoluments
No emoluments were paid by the fund to any ofthe trustees and the charity does not have
any employees. {2023'. no emoluments paid and no employees)
2. Trustee's expenses
No reimbursement of expenses has been made or is due to be made to any ofthe Irustees
in respect of the year. {2023. nil)
3. Charitable Activities
£79,786 is due to SGUL, as a contribution towards the costs of the Eleanor Peel Chair of
Geriatrics. (2022. £24,070)
4. Other Costs
Audit fees have been met by the parent undertaking in the current and prior year.
5. Investments
2024
2023
Market value brought fotward
Change in cash held in investment
Gainsl{lossesl on revaluation
1,858,551
136,673
104,960
1,260,435
615,680
{17,5641
Market value carried fotward
2,100,184
1,858,551
2024
2023
Balan￿ consists of..
UK Equities
Inlernational Equities
Bonds
Multi-Asset Funds
Hedge Funds
Property Funds
Others
52,837
1,257,588
231,221
2,098,296
28,113
112,200
1,888
176,592
2,100,184
1,858,551
The cash held as part ofthe investment is shown in the balance sheet as part of Gash and
cash equivalents. The investments are held in a pooled fund with the Parent Company
SGUL, the split of this fund is a per￿ntage split based on the initial value of the investment.
The trustees have received confirmation from SGUL that they are entitled to the assets as
detailed in the table above.
14

The Eleanor Peel Chair of Geriatrics
Annual Report and Financial Statements for the year ended 31 July 2024
Notes to the Financial Statements Icontinuedl
6. Debtors
2024
2023
St George's, University of London
86,435
62,419
86,435
62,419
7. Creditors
2024
2023
St George's, University of London
79,786
54,083
79,786
54,083
8. Taxation
The Eleanor Peel Chair of Geriatrics is a registered charity and is potentially exempt from
taxation in respect of income and capital gains received within the categories covered by
Part 11 of the Corporation Taxes Act 2010 or Seclion 256 of the Taxation of Chargeable
Gains Act 1992 to the extent that such income or gains are applied lo charitable purposes.
9. Connected Charity
The Eleanor Peel Chair of GeriatriGs shares common premises and administration facilities
with SGUL.
10. Analysis of Net Assets Between the Funds
2024
Investments Net current assets
Total
Permanent Endowment Fund
1,835,184
265,001
1,790 1,836,973
37,061
302,062
38,851 2,139,035
Restricted Fund
Total Funds
2,100,185
2023
Investments Nel current assets
Total
Permanent Endowment Fund
1,593,550
265,001
1,858,551
138,463 1,732,013
30,412 295,413
168,875 2,027,426
Restricted Fund
Total Funds
The permanent endowment fund shall pay or apply the income in furthering the objects of the
Trust, which are to encourage the study and teaching of 9eriatrics, to foster research into the
problems of ageing and to disseminate the results of this research and to improve the training
of doctors in the care of the eldedy.
15

The Eleanor Peel Chair of Gerlatrics
Annual Report and Financial Statements for the year ended 31 July 2024
The restricted fund is applied primarily in providing or contributing towards the salary and
emoluments of the Professor and the salary and emoluments of such staff that may be
appointed to assist them in their work as set out in the deeds of the Eleanor Peel Chair of
Geriatrics.
11. Ultimate Parent Company
The Charity is a subsidiary undertaking of SGUL, which is the ultimate parent company
incorporated in the United Kingdom. SGUL is the UK'S only university dedicated to medical
and health scienGes education, training and research. SGUL exercise control by
appointing the Trustees, Chair, and ensuring income is applied as set out in the deed5 of
the Eleanor Peel Chair of Geriatrics.
The largest and smallest group in which the results of the Charity are consolidated is that
headed by SGUL. No other group financial statements include the results of the Charity.
The consolidated financial statements af the group is available to the public and may be
obtained from St George's, University of London, Cranmer Terrace, SW17 ORE
12. Related Party Transactions
There were no transactions recorded with any of the Trustees. There were transactions
with SGUL in relation to covering the cosls of the salary of the Eleanor Peel Chair of
Geriatrics £79,73512023'. £24,070). SGUL also received income from the Investments
which it passed on the Charity £86,43512023'. £62,409).
13. Disclosure on City St George's Meryer
On 1. August 2024 St George's, University of London merged with City, University of
London to become City St George's, University of London. The Trustees and
administration of the Charity are unchanged.
16