MERU Medlcol Englneerlng Resource Unlt
from disabilities to possibilities
Medical Engineering
Resource Unit
Financial Statements
For the year ended
31 March 2021
CHARITY NO. 269804
COMPANY REGISTRATION NO. 1214125
QEF
achieving
goals for life
qei.org.uk
5tabJtory Report ?nd Accounts- Year Ended 31 March 2021

MERU Medlcal Englneerlng Resource Untt
LEGAL AND ADMINISTRATIVE INFORMATION
YEAR ENDED 31 MARCH 2021
PATRONS
LAURENCE LLEWELLYN BOWEN
SIR RICHARD STILGOE OBE DL
BOARD OF TRUSTEES
MOIRA BOWE
GORDON BOWSER
ALICE COLLINS
MICHAEL CONNAUGTON
TIMOTHY JASON DAVIES
JOHN DENNING
PETER GORDON (resigned 31 May 20211
ABIGAIL PRICE
LYNN SCOTCHER (resigned 10 December 20201
ELIZABETH SHARP
DIRECTORS
MOIRA BOWIE
GORDON BOWSER (appointed 15 June 20211
TIMOTHY JASON DAVIES
PETER GORDON {resigned 31 May 2021}
COMPANY SECRETARY
PHILIP KIRK
REGISTERED OFFECE
LEATHERHEAD COURT
WOODLANDS ROAD
LEATHERHEAD, SURREY, l(r22 OBN
BANKERS
CAF BANK LTD
25 KINGS HILL AVENUE
KINGS HILL
WEST MALLING
KENT
ME19
INDEPENDENT AUDITORS
MOORE KINGSTON SMITH LLP
DEVONSHIRE HOUSE
60 GOSWELL ROAD
LONDON
ECIM 7A
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MERU Medlcal Englneerlng Resource Unlt
CONTENTS
Trustees Report
page 4
Main Activities
page 4
Structure, Governance and Management
page 6
Financial Review
page 7
statement of Trustees Responsibilities
page 9
Independent Auditors, Report to the
Members of Medical Engineering Resource
Unit
page 11
Balance Sheet
page 16
Statement of Financial Activities
page 17
Notes to the Financial Statements
page 18
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MERU Medlcal Englneerfng Resovrce Unlt
TRUSTEES. REPORT
The Trustees are pleased to present their Report and Financial Statements for
the year ended 315t March 2021. The accounts have been prepared in
accordance with the Statement of Recommended Practice applicable to charities
preparing accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland issued in J¢Jly 2014. The report and
statements also comply with the Companies Act 2006.
History
On 1st April 2012 Medical Engineering Resource Unit (MERU) became a member
of the Queen Elizabeth's Foundation for Disabled People (QEF) family of charities
and QEF is the sole trustee of MERU. In this report, reference to 'Tru5tee5'
means the Board of Trustees of QEF.
The aim of the merger was to be able to enhance the range of services on offer
from both charities.
QEF is a national charity working with people living with physical and learning
disabilities or acquired brain injuries, to gain new skills and increase
independence. MERU has continued its work of providing innovative equipment
which started at Queen Mary's Hospital for Children 40 years ago. QEF and
MERU both support disabled people to achieve goals for life and realize their full
potential.
Vision and Strategic Direction
MERU care deeply about helping young people with disabilities who are
striving to enhance their ability to grow and achieve personal fulfilment.
MERU'S core solutions are aimed at serving the unique needs of
individuals for whom standard equipment solutions are inadequate.
MERU foster an environment of innovation and creativity to deliver both
the quality and efFicacy of solutions in a timely manner.
All equipment is manufactured to the highest P055ible standards and
compliant with the latest legislation in this field.
MERU draw on the widest possible range of expertise in engineeringt
design and disability, bringing new skills and experience into the
organisation whenever possible.
No child will be denied help on the grounds of cost, but where appropriate,
statutory agencies will be expected to make a contribution.
All employees, volunteers and clients of MERU are ambassadors for the
organisation.
MAIN ACTIVITIES
All charitable activities focus on enabling children and young people with
disabilities to take a more active, independent role in society through the
provision of innovative aids. They are undertaken to further MERU'S charitable
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MERU Medlcal Englneerfng Resovrce Unll
purposes for the public benefit. This objective falls within the guidance contained
in the Charity Commission's general guidance on public benefit and this guidance
has been taken into account when planning MERU'S future.
MERU offers a free loan scheme for our children's mini powered wheelchairs
known as Bugzis. Following an assessment, Bugzis are available for the family
to take home and use for as long as the child need it. It is then returned,
refurbished and reloaned to another child.
A wide range of bespoke, assistive products are available to purchase as well as
adaptions to toys. MERU stopped providing engineering servlces during the year
and these are no longer available,
Due to the COVID-19 pandemic, the centre was closed between March 2020 and
August 2020 and staff were furloughed. The team returned full time in October
2020.
Between April 2020 and March 2021, MERU helped over 3,700 disabled people
through the provision of its innovative products and services.
Bugzi loan scheme
26 children received a Bugzi through the Bugzi Loan Scheme between April 2020
and March 2021. The school based Bugzi Club was not in operation during the
year due to the COVID-19 pandemic.
We provided 10 new Bugzis this year; 6 for the loan scheme and 4 were sold. A
total of 26 Bugzis were refurbished throughout the year. There were 26 Bugzi
assessments carried out during the year
14 of which were at QEF with the
remaining 12 taking place at our partner centres.
Outreach and partnerships
MERU'S outreach work is carefully targeted to increase referrals and to support
fundraising activities. MERU has continued to foster partnerships with charities
and organisations who work directly with disabled children to ensure every child
who needs MERU'S services knows how to acces5 them. There are now
partnerships with organi5ations in Glasgow, Leeds, Birmingham, Truro, Thetford,
London, Northern Ireland, St Helens, Newcastle, Aylesbury and Derby.
MERU is also a member of the BHTA Paediatric Equipment Section with other
manufacturers and providers of Medical Devices.
Fundraising and Marketing
Despite the challenging fundraising environment, overall funds raised totalled
£334k (2020: £336k) of which £88k was raised specifically to build Bugzis. New
appointments and a new strategy in the Engagements and Partnerships team
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MERV Medlcol Englnèèrlng Resource Unlt
will further develop relationships with corporate and community partners in the
coming year, which is expected to increase support.
Volunteers and Support
MERU'S charitable activity is undertaken by our dedicated engineers and support
staff. Volunteers a￿ also a key part of the MERU story, in the workshop, in the
office, in fundraising activities and as ambassadors for the charity.
By opening the workshops to volunteers we have been able to recruit highly
skilled engineers and designers who work for local engineering companies. This
team is now responsible for much of our commercial output and have been
instrumental in providing the toy adaptation service.
STRUCTURE. GOVERNANCE AND MANAGEMENT
structure
The Charity is a company limited by guarantee. The governing documents are
the Memorandum and Articles of Association. MERU is registered as a charity
with the Charity Commission. The Trustees oversee the governance,
management and administration of MERU.
Trustees
Trustees are elected by Members of QEF or co-opted by the Trustees, based on
how their skill set and experience can benefit QEF and further improve the
knowledge of the Board. A formal recruitment and selection process is agreed
by the Board in advance of all appointments and is in line with best practice
guidance.
As stated in the Memorandum and Articles of Association, one third (or the
number nearest one third) of the Trustees must retire at each AGM, those
longest in office retiring first and the choice between any equal service being
made by drawing lots. A retiring Trustee who is eligible may be re-elected. If at
the date of the AGM a Trustee has held office for nine consecutive years, since
first election, they may not be re-elected, except in exceptional circumstance of
there being no other person eligible to be a Trustee and acceptable to the
Members as such.
The Trustees delegate day to day management and administration of MERU to
the Chief Executive and Senior Management Team of QEF and the staff of MERU.
Risk Management
The Trustees regularly examine the major strategic, business and operational
risks which the charity faces and confirm that systems have been established to
enable regular reports to be produced so that the necessary steps can be taken
to lessen these risks.
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MERU Medlcal Englneerlng Resource Unll
Risk
MERU remain heavily reliant on
charitable donations to fund
operations. There is diminishing
availability and increasing competition
for these funds.
How this is ex
ected to be mana
ed
MERU are increasing the proportion of
income that is self-generated year on
year and work closely with QEF
Engagements and Partnerships team to
su
ort fundraisin
initiatives.
FINANCIAL REVIEW
Income and Expenditure
Income from charitable activities (Engineering Services, Ready-made Products,
Bugzis and Travel Chairs) decreased to £174k in 2021 (2020 - £265k) as the
centre was closed for part of the year due to the COVID-19 pandemic. The
reduction was offset by government coronavirus support grant income of £92k.
Despite the challenging environment, income from donations was broadly
consistent with prior year at £334k (2020 - £336k).
Overall, MERU managed to maintain total income at £600k (2020 £601k). This,
coupled with a decrease in operating expenditure from £630k to £592k, resulted
in an improvement in net operating income from a deficit of £28k in 2020 to a
surplus of £8k in 2021.
Balance Sheet
The net book value of fixed assets reduced from £268k to £196k, a decrease of
£72k. This reflects the disposal of equipment following the closure of the
engineering services during the year, coupled with a reduced requirement for
new equipment following the relocation of MERU to a smaller site within QEF
property.
Stock has also decreased slightly due to tighter stock controls; there is less
space available at the new premises to hold large quantities of stock.
The cash balance increased from £22k to £158k reflecting the sale proceeds
from fixed assets, coupled with a reduction in capex and lower levels of working
capital.
Reserves policy
The Board of Trustees reviews the reserves policy of MERU on an annual basis.
The reserves include unrestricted and restricted reserves. An analysis of the
reserves is shown in note 9 of the financial statements.
The reserves policy is determined after assessing the capital requirements,
considering the nature and timing of income and expenditure streams and by
reviewing the specific business risks identified through the risk management
process. The Board of Trustees aims to maintain a level of unrestricted reserves
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MERU Medlcal Englneerlng Rèsource Unlt
not tied up in fixed assets or free reserves whlch it believes will be sufficient to
ensure the operational efficiency of the charity.
The Board of Trustees has concluded that, given the current economic situation,
the level of free reserves at the year-end should be three months, worth of
operating expenditure. The actual level of free reserves is defined as the
unrestricted net current assets (-£195k see note 9) divided by the average
monthly operating expenditure (£44k see SOFA).
However, the parent companyi QEF, calculates the resources required for the
whole QEF Group, which includes Its subsidiaries and specifically MERU. QEF will
ensure that MERU has adequate reserves at all times.
Investment policy
Any cash reserves have been deposited in a current account for ease of access.
No reserves have been available for investment.
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MERU Medical Engineerfng Resource Unlt
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The Trustees are required to prepare financial statements for each financial
period which give a true and fair view of the financial activities of the charity and
of its financial position at the end of that period.
In preparing those financial statements the Trustees are required to:
select suitable accounting policies and apply them consistently;
make judgements and estimates that are reasonable and prudent.
state whether the policies adopted are in accordance with the Companies
Act 2006 and with applicable accounting standards and statements of
recommended practice, subject to any material departures disclosed and
explained i n the financial statements.
prepare the financial statements on a going concern basis unless it is
inappropriate to presume that the charity will continLse in existence.
The Trustees are responsible for keeping proper accounting records which
disclose with reasonable accuracy at any ti me the financial position of the charity
and enable them to ensure that the financial statements comply with the
Companie5 Act 2006. They 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.
In 50 far as the Trustees are aware:
there is no relevant audit information of which the charitable company's
auditor is unaware; and
the Trustees have taken all steps that they ought to have taken to make
themselves aware of any relevant audit information and to establish that
the auditor is aware of that information.
The Trustees are responsible for the maintenance and integrity of the corporate
and financial information included on the charitable company's website.
Legislation in the United Kingdom governing the preparation and dissemination
of financial statements may differ from legislation in other jurisdictions.
This confirmation is given and should be interpreted in accordance with the
provisions of the Companies Act 2006.
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MERU Medlcal Englneerlng R950urce Unlt
Auditors
The auditors, Moore Kingston Smith LLP, have indicated their willingness to
continue in office, and a resolution concerning their reappointment will be
proposed at the next Annual General Meeting.
Small Company Rules
This report has been prepared in accordance with the provisions applicable to
companies entitled to the small companies exemption.
This report was approved by the Trustees on 24 November 2021 and signed on
its behalf.
T J Davies
Director
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MERU Medlcol Englneerlng Resource Untt
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MEDICAL
ENGINEERING RESOURCE UNIT
Opinion
We have audited the financial statements of Medical Engineering Resource Unit
for the year ended 31st March 2021 which comprise the Statement of Financial
Activities, the Balance Sheet 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 FRS 102 'The Financial Reporting Standard
Applicable in the UK and Republic of Ireland, (United Kingdom Generally
Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the charitable company's affairs as
at 31st March 2021 and of its incoming resources and application of
resources, including its income and expenditure, for the year then ended.
have been properly prepared in accordance with United Kingdom
Generally Accepted Accounting Practice. and
have been prepared in accordance with the requirements of the
Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing
(UK) (ISAs(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 are independent of the charitable
company in accordance with the ethical requirements that are relevant to our
audit 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. We believe that the audit evidence we have obtained is sufficient
and appropriate to provide a basis for our opinion.
Conclusions relating 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 charitable company'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.
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MERU Medlcal Englneerlng Resource Unll
other information
The other information comprises the information included in the annual report,
other than the financial statements and our auditor's report thereon. The
trustees are responsible for the other information. 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.
In connection with our audit of the financial statements, our responsibility is to
read the other information and, in doing so, consider whether the other
information is materially inconsistent with the financial statements or our
knowledge obtained in the audit or otherwise appears to be materially misstated.
If we identify such material inconsistencies or apparent material misstatements,
we are required to determine whether there 15 a material misstatement in the
financial statements or a material misstatement of the other information. 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.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the trustees, annual report for the financial year
for which the financial statements are prepared is consistent with the
financial statements; and
the trustees, annual report have been prepared in accordance with
applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its
environment obtained in the course of the audit, we have not identified material
misstatements in the trustees, annual report.
We have nothing to report in respect of the following matters where the
Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for
our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records
and returns. or
certain disclosures of trustees, remuneration specified by law are not
made. or
we have not received all the information and explanations we require for
our audit or
the trustees were not entitled to prepare the financial statements in
accordance with the small companies regime and take advantage of the
small companies exemption in preparing the Trustees. Annual Report and
from preparing a Strategic Report.
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MERU Medlcal Englneerlng Resource Unlt
Responsibilities of trustees
As explained more fully in the trustees, responsibilities statement set out on
page 9, the trustees (who are also the directors of the charitable company for
the purposes of company law) are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for
such internal control as the trustees determine is necessary to enable the
preparation of financial statements that are free from material misstatement,
whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing
the charitable company's ability to continue as a going concern, disclosin9, as
applicable, matters related to going concern and using the going concern basis
of accounting unless the trustees either intend to liquidate the charitable
company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
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 assurance is a high level of assurance, but is not a guarantee that an
audit conducted in accordance with ISAS (UK) will always detect a material
misstatement when it exists. Misstatements can arise from fraud or error and
are considered material if, individually or in aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of
these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and
regulations. We design procedures in line with our responsibilities, outlined
above, to 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.
Explanation as to what extent the aud•t was considered capable of
detecting irregularities, including fraud
The objectives of our audit in respect of fraud, are; to identify and assess the
risks of material misstatement of the financial statements due to fraud; to obtain
sufficient appropriate audit evidence regarding the assessed risks of material
misstatement due to fraud, through designing and implementing appropriate
responses to those assessed risks; and to respond appropriately to instances of
fraud or suspected fraud identified during the audit. However, the primary
responsibility for the prevention and detection of fraud rests with both
management and those charged with governance of the charitable company.
Our approach was as follows:
We obtained an understanding of the legal and regulatory requirements
applicable to the charitable company and considered that the most
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MERU Medlcal Englneerfng Resource Unlt
significant are the Companies Act 2006 and the Charity SORP, and UK
financial reporting standards as issued by the Financial Reporting Council.
We obtained an understanding of how the charitable company complies
with these requirements by discussions with management and those
charged with governance.
We inquired of management and those charged with governance as to any
known instances of non-compliance or suspected non-compliance with
laws and regulations.
Based on this understanding, we designed specific appropriate audit
procedures to identify instances of non-compliance with laws and
regulations. This included making enquiries of management and those
charged with governance and obtaining additional corroborative evidence
as required.
As part of an audit in accordance with ISAS (UK) we exercise professional
judgement and maintain professional scepticism throughout the audit. We also:
Identify and assess the risks of material misstatement of the financial
statements, whether due to fraud or error, design and perform audit
procedures responsive to those risks, and obtain audit evidence that is
sufficient and appropriate to provide a basis for our opinion. The risk of
not detetting a material misstatement resulting from fraud is higher than
for one resulting from error, as fraud may involve collusion, forgery,
intentional omissions, misrepresentations, or the override of internal
control.
Obtain an understanding of internal control relevant to the audit in order
to design audit procedures that are appropriate in the circumstances, but
not for the purposes of expressing an opinion on the effectiveness of the
charitable company's internal control.
Evaluate the appropriateness of accounting policies used and the
reasonableness of accounting estimates and related disclosures made by
the trustees.
Conclude on the appropriateness of the trustees, use of the going concem
basis of accounting and, based on the audit evidence obtained, whether
material uncertainty exists related to events or conditions that may cast
significant doubt on the charitable company's ability to continue as a
going concern. If we conclude that a material uncertainty exists, we are
required to draw attention in our auditor's report to the related disclosures
in the financial statements or, if such disclosures are inadequate, to
modify our opinion. Our conclusions are based on the audit evidence
obtained up to the date of our auditor's report. However, future events or
conditions may cause the charitable company to cease to continue as a
going concern.
Evaluate the overall presentation, structure and content of the financial
statements, including the disclosures, and whether the financial
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MERU Medlcal Englneerlng Resource Untt
statements represent the underlying transactions and events in a manner
that achieves fa ir presentation.
We communicate with those charged with governance regarding, among other
matters, the planned scope and timing of the audit and significant audit findings,
including any significant deficiencies in internal control that we identify during
our audit.
Use of our report
This report is made solely to the charitable company's members, as a body, in
accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work
has been undertaken so that we might state to the company's members those
matters we are required to state to them in an auditor's report and for no other
purpose. To the fullest extent permitted by law, we do not accept or assume
responsibility to any party other than the charitable company and charitable
company's members as a bodyi for our audit work, for this report, or for the
opinions we have formed.
J.A LLe
7 December 2021 [ Date]
Neil Finlayson (Senior Statutory Auditor)
for and on behalf of Moore Kingston Smith LLP, Statutory Auditor
Devonshire House
60 Goswell Road
London
ECIM 7AD
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MERU Medlcol Englneerlng Resource Unll
MEDICAL ENGINEERING RESOURCE UNrr
BALANCE SHEET
AS AT 31 MARCH 2021
2021
2020
Note
Flxed assets".
Tangible assets
195 940
195,940
268,166
268,166
Current assets
Stocks
Debtors
Cash at bank and in hand
63,443
50,927
158 281
272,651
86,739
83,293
192,058
Credltors
Amounts falling due wf(hin one
year
{386,0371
(385,7891
Net current assets
113 386
193,731
Total assets less current liabilfc￿s
Provi£Dns
{57,142)
{57,1421
Net asset or Ikibil￿leS
Accurnulated funds
Restricted funds
23,993
4,566
Unrestr￿ted funds
1,418
12,727
Total aC￿mUlated funds
Approved by the Trustees on 24 November 202 1 and signed on fcs beha￿ by:
TJ Davies
Director
The annexed notes form part of these financial statements
Company RegiStrat￿n Number.. 1214125
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MERU Medlcal Englneerlng Resource Untt
srATEMENT OF FINANCIAL AcfIviTIES
{INCLUDING XNCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2021
2021
2021
Unrestrirted Restricted
Funds
Funds
2021
2020
Notes
Total Funds Total Funds
INCOME:
Donations and legacies
Charitable artivities
8u5iness Grants
li
12
12
246,406
174, 169
91,568
87,764
334,170
174,169
91,568
336,115
265,375
Total Operatlng Income
512,143
599,907
601,490
EXPENDITURE:
Raislng funds
Charltsble actlvltSes
13
14
15,631
507,621
9,192
59,145
25,023
566,766
83,308
546,512
Total Operating Expenditure
523,452
68,337
591,789
629,820
Het Operating Income
(11,309)
19,427
8,119
(28,330)
Reconc¢liatioTh of funds:
Total funds brought forward
12,727
4,566
17,293
45,623
Total funds carried forward
The statement of financial activlties Includes all gains and 1055es recognised In the year.
All incoming resources and reSoUr￿S expended derlve from continuing activities.
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MERU Medlcal Englneerlng Resource Unlt
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
l. Company Status
The Company is limited by guarantee, has no share capital and is also a registered
charity. The liability of each member is limited to a sum of no more than £1 in the event
of a winding up.
2. Principle Accountlng Policies
a) Basis of Accounting
The financlal statements are prepared under the historical cost convention and in
accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland (FRS102). The company is a public benefit entity for the purposes of FRS102
and therefore the Charity also prepares its financial statements in accordance with the
Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Structure applicable in the UK and Republic of
Ireland (The FRS102 Charities SORP) and The Companies Act 2006. A summary of the
more important accounting policies, which have been applied consistently, is set out
below.
The financial statements are prepared in sterling, which is the functional currency of the
charity. Monetary amounts in these financial statements are rounded to the nearest
pound.
b) Going Concern
The trustees have assessed whether the use of the going concern basis Is appropriate
and have considered possible events or condltlons that might cast significant doubt on
the ability of the charitable company to continue as a going concern. The trustees have
made this assessment for a period of at least one year from the date of the approval of
these financial statements. In particular the trustees have considered the charitable
company's forecasts and projections and have taken account of pressures on donation
Income.
The trustees recognise that COVID-19 poses unique challenges, but wlll continue to
utilise all government support available, includ ing furloughing staff where appropriate.
Fundraising events have continued to be online and a specific COVID risk assessment for
MERU is available.
Procedures to maintain social distancing, enhance cleaning and
facilitate home working have been continued to minimise risk. After making enquiries,
the trustees have concluded that there is a reasonable expectation that the charitable
company has adequate resources to continue in operational existence for the foreseeable
future. The charitable company therefore continues to adopt the golng concern basls In
preparing its financial statements.
c) Incoming Resources
Grants and donations are included when receivable.
Government grants are recognised at the fair value of the asset received or receivable
when there is reasonable assurance that the grant conditions will be met and the grants
will be recelved.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021 (cont'd)
A grant that specifies performance conditions Is recognised in income when the
performance conditions are met. Where a grant does not specify performance conditions,
it is recognised in income when the proceeds are received or receivable. A grant received
before the recog nition criteria are satlsfled is recognised as a liability.
All Income Is recognised when there 15 entitlement to the funds, the receipt is probable
and the amount can be measured reliably.
d) Fixed Assets and Depreciation
Assets are purchased from donations and grants provided and are shown as direct
charitable expenditure from the fund concerned.
Individual tangible fixed assets costing more than £1,000 are capitalised at C05t.
Tangible fixed assets are stated at cost less depreciation.
All tanglble fixed assets are depreciated on a straight-llne basis.
Plant & machinery
Five to Ten years
Motor vehicles
Four years
Leasehold improvements
Flve years
At the end of each accounting period the residual values and useful lives of assets are
revlewed and adjusted if necessary. In addition, if events or change in circumstances
indicate that the carrying value may not be recoverable then the carrying values of
tangible fixed assets are reviewed for impairment.
e) Stocks
stocks comprise items purchased for resale and are stated at the lower of cost or net
realisable value, after making due allowance for obsolete and slow moving stock.
Resources Expended
Costs of charitable activities, support costs and the costs of raising funds of the charity
have been allocated between these headings directly to the relevant expense for which
the cost was incurred. Where costs cannot be specifically identified within one of the
above categories an estimated allocation has been made.
g) Operating Leases
Rentals payable under operating leases are charged on a straight-line basis over the
term of the lease.
h) Pensions
Some staff participate In the NHS pension scheme. This is a defined benefit scheme; in
the event of underfundingi liability would rest with the NHS. Contributions are charged
on an accrual basis. There is an optional penslon scheme for the other employees.
For each member of the Group Personal Pension Plan {GPPP) the company makes a
contribution of 5¥0 of the employee's gross salary provided the employee has made
personal contribution of at least 50/0.
19
stakntDry RÈPtsrt and ACCOunts- yearended 31 Iiarch 2021

MERU Medlcal Englneerfng Rèsource Unlt
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021 (cont'd)
A third-party pension provlder holds the assets of the GPPP.
) Taxation
As the company is a registered charity, it Is exempt from corporatlon tax on Its
charitable activities.
j) Cash Flow
The company is exempt from the requirement to prepare a cash flow statement as it is a
wholly owned subsidiary of the Queen Elizabeth's Foundation for Disabled People and its
cash flows are consolidated into the cash flow statement of that company.
k) Unrestricted Funds
These are donatlons and other incoming resources receivable or generated for the
objects of the Charity without further specified purpose and are available as general
funds.
l) Restricted Funds
These are funds to be used for the speclfic purposes laid down by the donor. See note 8
for more details of restrirted funds. Expenditure which meets these criteria is charged to
the fund.
m) Critical Accountlng Estimates and Areas of Judgement
In preparing financial statements it is necessary to make certain judgements, estimates
and assumptions that affect the amounts recognised in the financial statements.
In view of the trustees in applying the accounting policies adopted, no judgements were
requlred that have a significant effect on the amounts recognised in the financial
statements nor do any estimates or assumptions made carry a significant risk of material
adjustment in the next financial year.
n) Other Financial Instruments
Cash and Cash Equivalents
Cash and cash equivalents include cash at banks and In hand and short-term
deposits with a maturity date of three months or less.
Debtors and Credltors
Debtors and creditors receivable or payable within one year of the reporting date are
carried at their transaction price. Debtors and creditors that are recelvable or
payable in more than one year and not subject to a market rate of Interest are
measured at the p￿sent value of the expected future receipts or payment
discounted at a market rate of interest.
20
statytory RepDrt A￿o￿nts- yejr eD¢ed 31 Mjrch 2021

MERU Medlcal Englneerfng Resource Unll
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021 (cont'd)
TANGIBLE FIXED ASS￿$
Leasehokl
Xmprc*vements
P¥nt and
Equ￿ment
Motor Vehkks
Total
Cost at 1.4.20
Additlons
Disoosals
Cost at 31.3.21
64.118
565,057
40,913
7.015
636.190
40.913
155 828
521,275
514.260
7.015
Dep￿tIatIon at 1.4.20
Charoe for year
On disposals
DeD￿clatIOn at 31.3.21
64,118
297.417
91,838
6,489
449
368,024
92,286
134 975
325,335
318,398
6,938
NET BOOK VALUE at 31.3.21
NET BOOK VALUE at 31.3.20
77
526
195 940
srocK
2021
2020
Raw materia15 and finished goods
443
443
DEBTORS AND PREPAYMENTS
With the extrption of p￿payrr￿nt5, all debtors flnancial instruments and are measu￿￿ at ptEsent value.
2021
2020
Amounts falling due within one year..
Debtot5 for equipment 501d
Rent Deposit re Ep50m p￿rnISes
p￿paYmentS
45,927
5,000
55,846
5,000
CREDThORS
All creditor5 are financial instrument5 and a￿ measured at present value.
2021
2020
Amounts falllng due within one year..
Accruals
Sundry Credltor5
HMRC IRe VATI
4,990
5,003
13,601
11,197
347,202
14,0131
10.352
349,512
983
Amount due to parent organisation
Purchase Ledger Control
Bugzi Loan Deposit
21
5tstutory Aeport Jnd A¢cvunts- year ended 31 March 2021

MERU Medlcal Englneerlng Resource Unll
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021 (cont'd)
PROVISIONS
2021
2020
Dllapldation Reserve
srATEMET4T OF FUNDS
Openkng
Balance
Incomlny
Resources
Resources
Expended
Ck)sing
Balance
Unrestrkted Fund$:
General Fund
12,726
512,144
523,452
1,418
Restrlcted Funds:
Bugzi
Engineer Salaries
Students
87,766
63,772
23,994
4.566
4,566
Total Al Funds
591 790
ANALYSIS OF ASSETS BY FUND
Unrestrkted
Fund
Restrkted
Fund
Total Funds
2021
Tangible Fixed Assets
Current Assets
cu￿nt UabilltSes
195,940
248,657
195,940
272,651
443 179
23,994
Unrestrlcted
Fund
Restrktsd
Fund
Totsl Funds
2020
Tanglble flxed assets
Current Assets
CU￿nt Liabilities
268,166
187,491
268,166
192,057
4,566
The restrfrtlon Is defined to have been met If monev has been spent on the actlvltv It was intended for.
22
ststutory Report and Accounts- year ended 31 March 2021

MERU Medlcal Englneerlng Resource Unll
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021 (cont'd)
10 RecoNCILIATION OF MOVEMENT IN FUNDS
2021
Totèl
2020
Total
OpenlrKJ funds
Net movements of reseurces h the year
Cbslng funds
17,293
45,623
11 DONATIONS AND LEGACIES
2021
Unrestrkted
2021
Restrkted
2021
Totsl
Category
Trusts
Major Donor5
Dirert Mail
Corporate
Communitv
Event
Other
91,775
66.820
15,750
912
10.743
16.4611
158.595
15,750
943
19,489
23,010
16,383
loo 000
31
8.746
29.471
16,383
246 406
2020
Unrestrthd
2020
Restricted
2020
Totsl
Category
Trusts
Major Dono
Dirert Mail
Corporate
Community
Event
Other
31.642
109.034
5.100
91.110
26,174
12.460
36.176
140.676
5,100
91.796
26.493
30.862
36.176
12
336 115
685
319
18.402
280 054
12 CHARIT ABLE ACTIVITES & GRANTS
All activities in the current and prior year were un￿$t￿tte￿.
2021
2020
Sale of Equipment by the Charity
Business G￿n¢$
174.170
265.375
75
Business grnnts Sn 2021 comprfses Income from the Coronavirus Job Retention Scheme
23
stswrory Report Jnd Accounts- yeJr wded 31 March 2021

MERU Medlcal Englneerfng Resource Unlt
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021 (cont'd)
13 RAISING FUNDS
In the current a￿d prior year there were both restncted and unrestricted costs of raising funds.
2021
Dkert Costs
2021
st•ff C<+sts
2021
Totsl Funds
UntEstdrted
Restritted 8ugzi
5.023
10,808
15.831
2020
Dkert Costs
2020
staff Costs
2020
Total Funds
Unrestrfrted
Restricred Buozi
55.449
11,200
66.649
14 CHARThABLE ACTIVITIES
2021
Dkect C05t5
2021
Support Cost5
2021
Total Fund5
Bespoke Projects
Travelchair
Instant Solutions
Auditor5, Remuneration inc VAT
121.395
55.717
177.112
257,367
130,007
387,374
378 762
L88 004
566 766
2020
Dtrect Costs
2020
Support C05t5
2020
Total Funds
Bespoke Prt>jetts
Travelchair
Instant Solutions
Auditor5, Remunerdtion inc VAT
102,730
12,727
243.712
148,051
18,506
18,506
250,781
31,233
262,218
359 169
187 343
15 SUPPORT COSTS
2021
staff Costs
2021
Other Costs
2021
Total Funds
Bespoke Projects
Tt7velChalr
Instant Solutlons
23,045
33,356
56,401
77
817
111 187
24
StJrutory Report Jnd Accounts- year ended 31 Narth 2021

MERU Medlcal Englneerfng Resovrce Unlt
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021 (cont'd)
2020
Staff Costs
2020
Other Costs
2020
Totsl Funds
Bespoke Projects
Travelchair
Instant ￿)lutionS
71,022
8.878
78.853
9,856
149,875
18,734
187 344
The basis of the cost allocatlon shown above Is as a Droportion of the c05t of each attivity.
X6 STAFF cosrs
2021
2020
Salaries
Social Secut1ty Costs
Pension Costs
Other Costs
89.732
18,307
12,998
492
121 $29
242,834
22,208
18,756
798
The avernge number of Detsons employed by MERU during the year was..
Ful tkne
2021
Ful tone
2020
Part twno
2021
Part tkne
2020
MERV
No ernpbyee rece￿ed ￿Munerat￿Tr amountho to more than £60.000 li ether year.
Inchjded syithn staff c05t5 above 15 £9,199 12020.. £20,241) of ktour costs that have been captali5ed ￿e￿ 455ets.
The Trustee5 rece￿ed no remunerath)n NJr kncurred any reiMbu￿ab￿ expenses n ether year.
Key management personnel inckndes Ten empbyees,. Flnanckl 0￿er. Seven Des&n Engineers and Project Leader5 and the
Engineeriryj Team Leader. Remuneratbn for key management personnel syas £86,413 for the ye4r12020'. £284,304).
17 OPERATING INCOME
2021
2020
Surpkns before Audknrs Remuneratbn and Depret&4tK)n of FD(ed Assets
93,425
65,529
Auditorf5 Remuneration
Dep￿cIatIOn of Tangible Fixed A5set5
2.280
2,280
30
25
st•tutory Report Jnd ACCOUnts- vear ended 31 Marth 2021

MERU Medlcal Englneerlng Resource Unlt
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021 (cont'd)
18 RELATED PARTY TRANSACTIONS
Medical Engineering Resource Unit is a IOOOh owned subsidiary OF Queen Elizabeth Foundatlon for Dlsabled
People. Trnnsattions with parent company are follows.. QEF management fee charyed £28,85612020= £0}. There
were no other group trdnsartlons In the year.
Induded wlthln cxedltors at year end for MERU a*p the followino balances with the group of charities..
2021
349 512
349 512
2020
347 202
347 202
Queen Elizabeth's Foundation for Disabled People
19 ULTIMATE PARENT UNOERTAKING
The company Is a wholly owned subsidiary of Queen Elizabeth's Foundation for Disabled People, a company
Incotpot3ted in England and Wales Icharfty number.. 251051} The immediate and ultimate controlling party is
Queen Elizabeth's Foundation for Disabled People. whlch is the parent undertaking of the smallest and largest
gnup to consolidate these financial statements. These accounts can be obtained from The Cornpany Secretaryi
Leatherhead Court, Woodlands Road, Leatherhead, sU￿Y KT22 OBN.
Queen Ellzabeth's Foundatlon for Dlsabled People {QEFI is a leading national charity with over 80 years,
experfence of developing innovatlve seNlces whlch enable and support people with disabilities to Inc￿aSe
inéependence and impmve opportunities for Ilfe.
26
siatutory Report ènd Accounts- yeèrended 31 NJrch 2021