| Page | ||||||
|---|---|---|---|---|---|---|
| Reference and Administrative | Details ofthe Charity, | its Trustees | and Advisers | |||
| Trustees' Report | ||||||
| Independent | Auditors' | Report | on the Financial Statements | 9-12 | ||
| Consolidated | Statement | of Financial Activities | 13 | |||
| Consolidated | Balance Sheet | 14 | ||||
| Charity Balance Sheet | 15 | |||||
| Consolidated | Statement | ofCash Flows | 16 | |||
| Notes to the | Financial Statements | 17-37 |
| Trustees | Mr P Atkey, Chair | Mr P Atkey, Chair | ||
|---|---|---|---|---|
| Mr R Davey (appointed | 2 May 2022) | |||
| Mr J Chapman | ||||
| Mr S Mann (resigned 25 January 2023) | ||||
| Mrs R Lunn (appointed | 25 May 2022) | |||
| Mr G Anthony | ||||
| Mr BClargo | ||||
| Mr R Sparrow | ||||
| Mr R Chubb (appointed | 2 May 2022) | |||
| Mr KWalker (resigned | 24 May 2023) | |||
| Company | registered | |||
| number | 01480369 | |||
| Charity registered | ||||
| number | 279652 | |||
| Registered | office | The Hyperbaric | Medical | Centre, Research Way |
| Plymouth Science Park |
||||
| Plymouth | ||||
| PL6 8BU | ||||
| PL6 8BU | ||||
| Chief executive officer | Dr G Smerdon | |||
| Independent | auditors | Bishop Fleming | LLP | |
| Chartered Accountants |
||||
| Salt Quay House | ||||
| 4 North East Quay | ||||
| Sutton Harbour | ||||
| Plymouth | ||||
| PL4 OBN | ||||
| Bankers | Barclays Bank Pic | |||
| 140-146Armada | Way | |||
| Plymouth | ||||
| PL1 1LA |
| Page | ||||||
|---|---|---|---|---|---|---|
| Reference and Administrative | Details ofthe Charity, | its Trustees | and Advisers | |||
| Trustees' Report | ||||||
| Independent | Auditors' | Report | on the Financial Statements | 9-12 | ||
| Consolidated | Statement | of Financial Activities | 13 | |||
| Consolidated | Balance Sheet | 14 | ||||
| Charity Balance Sheet | 15 | |||||
| Consolidated | Statement | ofCash Flows | 16 | |||
| Notes to the | Financial Statements | 17-37 |
| Trustees | Mr P Atkey, Chair | Mr P Atkey, Chair | |||
|---|---|---|---|---|---|
| Mr R Davey (appointed | 2 May 2022) | ||||
| MrJ Chapman | |||||
| Mr S Mann (resigned 25 January 2023) | |||||
| Mrs R Lunn (appointed | 25 May 2022) | ||||
| Mr G Anthony | |||||
| Mr BClargo | |||||
| Mr R Sparrow | |||||
| Mr R Chubb (appointed | 2 May 2022) | ||||
| Mr KWalker (resigned | 24 May 2023) | ||||
| Company | registered | ||||
| number | 01480369 | ||||
| Charity registered | |||||
| number | 279652 | ||||
| Registered | office | The Hyperbaric | Medical | Centre, Research Way | |
| Plymouth Science Park |
|||||
| Plymouth | |||||
| PL6 8BU | |||||
| PL6 8BU | |||||
| Chief executive officer | Dr G Smerdon | ||||
| Independent | auditors | Bishop Fleming | LLP | ||
| Chartered Accountants |
|||||
| Salt Quay House | |||||
| 4 North East Quay | |||||
| Sutton Harbour | |||||
| Plymouth | |||||
| PL4 0BN | |||||
| Bankers | Barclays Bank Pic | ||||
| 140-146Armada | Way | ||||
| Plymouth | |||||
| PL1 1LA |
| Unrestricted | Total | Total | |||
|---|---|---|---|---|---|
| funds | funds | funds | |||
| Note | 2023f | 2023 | 2022 P |
||
| Income from: | |||||
| Donations and legacies |
18,450 | 18,450 | 12,807 | ||
| Charitable activities |
1,661,733 | 1,661,733 | 1,596,667 | ||
| Other trading activities |
428,093 | 428,093 | 461,866 | ||
| Investments | 245,043 | 245,043 | 230,825 | ||
| Other income | 19,219 | 19,219 | 113,434 | ||
| Total income | 2,372,538 | 2,372,538 | 2,415,599 | ||
| Expenditure on: |
|||||
| Raising funds | 280,008 | 280,008 | 268,191 | ||
| Charitable activities |
1,795,902 | 1,795,902 | 1,695,801 | ||
| Total expenditure | 2,075,910 | 2,075,910 | 1;963,992 | ||
| Net movement in funds |
296,628 | 296,628 | 451,607 | ||
| Reconciliation offunds: |
|||||
| Total funds brought | forward | 4,058,843 | 4,058,843 | 3,607,236 | |
| Net movement in funds |
296,628 | 296,628 | 451,607 | ||
| Total funds carried forward | 4,355,471 | 4,355,471 | 4,058,843 |
| 2023 | 2022 | ||||||
|---|---|---|---|---|---|---|---|
| Note | |||||||
| Fixed assets | |||||||
| Tangible assets | 13 | 2,834,391 | 2,956,726 | ||||
| Investment property |
14 | 1,624,813 | 1,624,813 | ||||
| 4,459,204 | 4,581,539 | ||||||
| Current assets | |||||||
| Stocks | 16 | 26,367 | 21,012 | ||||
| Debtors | 17 | 244,015 | 171,090 | ||||
| Cash at bank and | in hand | 1,081,850 | 849,139 | ||||
| 1,352,232 | 1,041,241 | ||||||
| Creditors: amounts | falling due within one | ||||||
| year | 18 | (462,206) | (461,659) | ||||
| Net current assets | I (liabilities) | 890,026 | 579,582 | ||||
| Creditors: amounts | falling due after more | ||||||
| than one year | 19 | (993,759) | (1,102,278) | ||||
| Total net assets | 4,355,471 | 4,058,843 | |||||
| Group funds | |||||||
| Unrestricted funds |
20 | 4,355,471 | 4,058,843 | ||||
| Total funds | 4,355,471 | 4,058,843 |
| 2023 | 2022 | ||||||
|---|---|---|---|---|---|---|---|
| Note | |||||||
| Fixed assets | |||||||
| Tangible assets | 13 | 2,815,236 | 2,944,971 | ||||
| Investments | 15 | 4 | 4 | ||||
| Investment property |
14 | 1,624,813 | 1,624,813 | ||||
| 4,440,053 | 4,569,788 | ||||||
| Current assets | |||||||
| Stocks | 16 | 21,844 | 17,601 | ||||
| Debtors | 17 | 273,895 | 125,935 | ||||
| Cash at bank and | in hand | 810,5&1 | 579,850 | ||||
| 1,106,320 | 723,386 | ||||||
| Creditors: amounts | falling due within one | ||||||
| year | 18 | (411,910) | (371,197) | ||||
| Net current assets | I(liabilities) | 694,410 | 352,189 | ||||
| Creditors: amounts | falling due after more | ||||||
| than one year | 19 | (993,759) | (1,102,278) | ||||
| Total net assets | 4,140,704 | 3,819,699 | |||||
| Charity funds | |||||||
| Unrestricted funds |
20 | 4,140,704 | 3,819,699 | ||||
| Total funds | 4,140,704 | 3,819,699 |
| 2023f | 2022 E |
|||||
|---|---|---|---|---|---|---|
| Cash flows from operating | activities | |||||
| Net cash provided by operating activities |
438,787 | 225,933 | ||||
| Cash flows from investing | activities | |||||
| Purchase oftangible fixed assets |
(50,856) | (282,460) | ||||
| Net cash used in investing |
activities | (50,856) | (282,460) | |||
| Cash flows from financing | activities | |||||
| Cash inflows from new borrowing | 638,493 | |||||
| Repayments of borrowing |
(108,519) | |||||
| Interest paid |
(47,365) | (40,428) | ||||
| Interest received | 664 | |||||
| Net cash (used in)/provided | by financing | activities | (155,220) | 598,065 | ||
| Change in cash and cash |
equivalents | in | the year | 232,711 | 541,538 | |
| Cash and cash equivalents | at the beginning | ofthe year | 849,139 | 307,601 | ||
| Cash and cash equivalents | at the end | of | the year | 1,081,850 | 849,139 | |
| The notes on pages 17to 37form part ofthese financial | statements |
| Long-term leasehold property |
- straight line up |
to 50years | ||
|---|---|---|---|---|
| Plant and office equipment | - 15%reducing | balance and straight | line over 2 | |
| to 45 years | ||||
| ' | Motor vehicles Assets under construction |
- straight line over 6years - not depreciated |
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 2023 | 2023f | |
| Donations | 18,450 | 18,450 |
| Unrestricted | Total | |
| funds | funds | |
| 2022f | 2022 | |
| Donations | 12,807 | 12,807 |
| Unrestricted | Total | ||
|---|---|---|---|
| funds | funds | ||
| 2023 F |
2023f | ||
| Medical income | 1,655,990 | 1,655,990 | |
| Conference | and course fees | 5,743 | 5,743 |
| TOTAL 2023 | 1,661,733 | 1,661,733 | |
| Unrestricted | Total | ||
| funds | funds | ||
| 2022 | 2022 | ||
| E | |||
| Medical income | 1,596,667 | 1,596,667 |
| Unrestricted | Total | ||||
|---|---|---|---|---|---|
| funds | funds | ||||
| 2023 | 2023 | ||||
| Merchandising | and | training | income | 1,058 | 1,058 |
| DDRC Professional | Services Limited | 359,134 | 359,134 | ||
| DDRC Medical | Services Limited | 67,901 | 67,901 | ||
| TOTAL 2023 | 428,093 | 428,093 | |||
| Unrestricted | Total | ||||
| funds | funds | ||||
| 2022 | 2022 | ||||
| Merchandising | and | training | income | 1,771 | 1,771 |
| DDRC Professional | Services Limited | 381,628 | 381,628 | ||
| DDRC Medical | Services Limited | 78,467 | 78,467 | ||
| TOTAL 2022 | 461,866 | 461,866 |
| Unrestricted | Total | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | 2023f | ||
| Rental income | 243,660 | 243,660 | |
| Bank interest receivable | 1,383 | 1,383 | |
| TOTAL 2023 | 245,043 | 245,043 | |
| Unrestricted | Total | ||
| funds | funds | ||
| 2022f | 2022f | ||
| Rental income | 230,785 | 230,785 | |
| Bank interest receivable | . | 40 | 40 |
| TOTAL 2022 | 230,825 | 230,825 |
| Unrestricted | Total | |||
|---|---|---|---|---|
| funds | funds | |||
| 2023 | 2023f | |||
| Other operating | income | 19,219 | 19,219 | |
| TOTAL 2023 | 19,219 | 19,219 | ||
| Unrestricted | Total | |||
| funds | ,funds | |||
| 2022f | 2022f | |||
| Other operating | income | 12,149 | 12,149 | |
| Recharge of building | works | 101,285 | 101,285 | |
| 113,434 | 113,434 |
| Activities | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| undertaken | Support | Total | |||||||
| directly | costs | funds | |||||||
| 2023 | 2023f | 2023 | |||||||
| Charitable | activities | 1,729,861 | 66,041 | 1„795,902 | |||||
| Activities | |||||||||
| undertaken | Support | Total | |||||||
| directly | costs | funds | |||||||
| 2022 | 2022 | 2022 | |||||||
| Charitable | activities | 1,632,189 | 63,612 | 1,695,801 | |||||
| ANALYSIS | OF SUPPORT | COSTS | |||||||
| Total | |||||||||
| Activities | funds | ||||||||
| 2023 | 2023 | ||||||||
| F | |||||||||
| Governance | costs | 66,041 | 66,041 | ||||||
| Total | |||||||||
| Activities | funds | ||||||||
| 2022 | 2022 | ||||||||
| Governance | costs | 63,612 | 63,612 | ||||||
| 10. | AUDITORS' | REMUNERATION | |||||||
| 2023 | 2022 | ||||||||
| F | |||||||||
| Fees payable | to the Group's | auditor | for the audit ofthe Group's | annual | |||||
| accounts | 16,395 | 13,510 | |||||||
| Fees payable | to the Group's | auditor | in respect of: | ||||||
| All non-audit | services not included | above | 3,130 | 3,740 |
| Group | Group | Charity | Charity | ||||
|---|---|---|---|---|---|---|---|
| , 2023f | 2022 E |
2023 | 2022 F |
||||
| Wages and | salaries | 1,015,163 | 986,985 | 894,462 | 870,247 | ||
| Social security costs | 82,352 | 72,579 | 70,484 | 63,162 | |||
| Contribution | to defined | contribution | pension | ||||
| schemes | 79,180 | 68,383 | 69,005 | 60,409 | |||
| 1,176,695 | 1,127,947 | 'I,033,951 | 993,818 |
| Group | Group | Charity | Charity | |
|---|---|---|---|---|
| 2023 | 2022 | 2023 | 2022 | |
| No. | No. | No. | No. | |
| Staff | 50 | 47 | 44 | 41 |
| Group | Group |
|---|---|
| 2023 | 2022 |
| No. | No. |
| Long-term | ||||
|---|---|---|---|---|
| leasehold | Plant and | Motor | ||
| property | machineryf | vehicles | Total | |
| COST | ||||
| At 1 April 2022 | 3,935,391 | 1,490,437 | 12,842 | 5,438,670 |
| Additions | 2,950 | 47,906 | 50,856 | |
| At 31 March 2023 | 3,938,341 | 1,538,343 | 12,842 | 5,489,526 |
| DEPRECIATION | ||||
| At 1 April 2022 | 1,276,202 | 1,192,900 | 12,842 | 2,481,944 |
| Charge for the year | 97,251 | 75,940 | 173,191 | |
| At 31 March 2023 | 1,373,453 | 1,268,840 | 12,842 | 2,655,135 |
| NET BOOK VALUE | ||||
| At 31 March 2023 | 2,564,888 | 269,503 | 2,834,391 | |
| At 31 March 2022 | 2,659,189 | 297,537 | 2,956,726 |
| Long-term | |||
|---|---|---|---|
| leasehold | Plant and | ||
| property | machinery | Total | |
| f. | |||
| COST | |||
| At 1 April 2022 | 3,935,391 | 1,449,362 | 5,384,753 |
| Additions | 2,950 | 34,372 | 37,322 |
| At 31 March 2023 | 3,938,341 | 1,483,734 | 5,422,075 |
| DEPRECIATION | |||
| At 1 April 2022 | 1,276,202 | 1,163,580 | 2,439,782 |
| Charge for the year | 97,251 | 69,806 | 167,057 |
| At 31 March 2023 | 1,373,453 | 1,233,386 | 2,606,839 |
| NET BOOK VALUE | |||
| At 31 March 2023 | 2,564,8&8 | 250,348 | 2,815,236 |
| At 31 March 2022 | 2,659,189 | 285,?82 | 2,944,971 |
| Long-term | |
|---|---|
| leasehold | |
| investment | |
| property | |
| VALUATION | |
| At 1 April 2022 | 1,624,813 |
| At 31 March 2023 | 1,624,813 |
| CHARITY | |
| Long-term | |
| leasehold | |
| investment | |
| property | |
| VALUATION | |
| At 1 April 2022 | 1,624,813 |
| At 31 March 2023 | 1,624,&13 |
| Names | Company | Registered | office or principal | Holding | ||
|---|---|---|---|---|---|---|
| number | place ofbusiness | |||||
| DDRC | Professional | Services Limited | 03004311 | 8 Research | Way, Derriford, | 100% |
| Plymouth, | PL6 8BU | |||||
| DDRC | Medical Services Limited | 07560790 | 8 Research | Way, Derriford, | 100% | |
| Plymouth, | PL6 8BU |
| Names | Income f |
Expenditure | Profit for the year |
Net assets | ||
|---|---|---|---|---|---|---|
| DDRC | Professional | Services Limited | 394,178 | (340,733) | 53,445 | 164,612 |
| DDRC | Medical Services Limited | 82,687 | (46,252) | 36,435 | 74,535 |
| Group | Group | Charity | Charity | ||||
|---|---|---|---|---|---|---|---|
| 2023 | 2022f | 2023 | 2022f | ||||
| Raw | materials | and | consumables | 26,367 | 21,012 | 21,844 | 17,601 |
| Group | Group | Charity | Charity | ||||||
|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | 2023 | 2022 | ||||||
| DUE WITHIN | ONE YEAR | ||||||||
| Trade debtors | 151,966 | 73,304 | 151,686 | 6,104 | |||||
| Amounts owed |
by group undertakings | 68,031 | 47,644 | ||||||
| Other debtors | 24,663 | 15,050 | 2,003 | 755 | |||||
| Prepayments | and accrued | income | 67,386 | 82,736 | 52,175 | 71,432 | |||
| 244,015 | 171,090 | 273,895 | 125,935 | ||||||
| 18. | CREDITORS: | AMOUNTS | FALLING DUE WITHIN ONE YEAR | ||||||
| Group | Group | Charity | Charity | ||||||
| 2023 | 2022 | 2023 | 2022 | ||||||
| E | |||||||||
| Bank loans | 155,884 | 155,884 | 155,884 | 155,884 | |||||
| Trade creditors | 80,202 | 108,663 | 72,620 | 93,658 | |||||
| Amounts owed |
to group undertakings | 34,031 | |||||||
| Other taxation | and social security | 63,403 | 42,246 | 48,478 | 38,893 | ||||
| Other creditors | 9,618 | 7,203 | 9,618 | 7,204 | |||||
| Accruals and deferred | income | 153,099 | 147,663 | 91,279 | 75,558 | ||||
| 462,206 | 461,659 | 411,910 | 371,197 |
| Group | Group | ||||||
|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||
| Deferred | income at | 1 April | 2022 | (59,557) | |||
| Resources. deferred | during | the year | (45,906) | (59,557) | |||
| Amounts | released | from previous | periods | 59,557 | (3,365) | ||
| (45,906) | (62,922) |
| Group | Group | Charity | Charity | |
|---|---|---|---|---|
| 2023 | 2022f | 2023f | 2022f | |
| Bank loans | 993,759 | 1,102,278 | 993,759 | 1,102,278 |
| Included within the above are amounts |
falling due as follows: | |||
| Group | Group | Charity | Charity | |
| 2023f | 2022f | 2023 | 2022 | |
| BETWEEN ONE AND TWO YEARS | ||||
| Bank loans | 155,884 | 155,884 | 155,884 | 155,884 |
| BETWEEN TWO AND FIVE YEARS | ||||
| Bank loans | 467,652 | 467,652 | 467,652 | 467,652 |
| OVER FIVE YEARS | ||||
| Bank loans | 370,223 | 478,742 | 370,223 | 478,742 |
| Balance at | ||||||
|---|---|---|---|---|---|---|
| Balance at 1 | Transfers | 31 March | ||||
| April 2022f | Income | Expendituref | in/out f |
2023 f |
||
| UNRESTRICTED FUNDS | ||||||
| DESIGNATED FUNDS | ||||||
| Fixed assets | 3,323,377 | (1?3,191) | 159,376 | 3,309,562 | ||
| Research Studentships | and | |||||
| Clinical Trials | 141,400 | 141,400 | ||||
| New Chamber | 600,000 | 600,000 | ||||
| 3323 377 | (173,191) | 900,776 | 4,050,962 | |||
| GENERAL FUNDS | ||||||
| General funds | 735,466 | 2,372,538 | (1,902,719) | (900,776) | 304,509 | |
| TOTAL UNRESTRICTED | ||||||
| FUNDS | 4,058,843 | 2,372,538 | (2,075,910) | 4,355,471 | ||
| Designated Funds |
| STATEMENT OF FUNDS - P | RIOR YEAR | ||||
|---|---|---|---|---|---|
| Balance at | |||||
| Balance at | Transfers | 31 March | |||
| 1 April 2021 | Income | Expenditure | in/out | 2022 | |
| E | F | ||||
| UNRESTRICTED FUNDS | |||||
| DESIGNATED FUNDS | |||||
| Fixed assets | 3,843,891 | (164,481) | (356,033) | 3,323,377 | |
| GENERAL FUNDS | |||||
| General funds | (236,655) | 2,415,599 | (1,799,511) | 356,033 | 735,466 |
| TOTAL UNRESTRICTED | |||||
| FUNDS | 3,607,236 | 2,415,599 | (1,963,992) | 4,058,843 |
| Unrestricted | Total | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | 2023 | ||
| Tangible fixed assets | 2,834,391 | 2,834,391 | |
| Investment | property | 1,624,813 | 1,624,813 |
| Current assets | 1,352,232 | 1,352,232 | |
| Creditors | due within one year | (462,206) | (462,206) |
| Creditors | due in more than one year | (993,759) | (993,759) |
| TOTAL | 4,355,471 | 4,355,471 |
| Unrestricted | Total | |||
|---|---|---|---|---|
| funds | funds | |||
| 2022 | 2022 | |||
| Tangible | fixed assets | 2,956,726 | 2,956,726 | |
| Investment | property | 1,624,813 | 1,624,813 | |
| Current | assets | 1,041,241 | 1,041,241 | |
| Creditors | due within one year | (461,659) | (461,659) | |
| Creditors | due in more than one year | (1,102,278) | (1,102,278) | |
| TOTAL | 4,058,843 | 4,058,843 |
| Group | Group | |||||||
|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||||
| F | ||||||||
| Net income for the | year (as | per Statement | of Financial | Activities) | 296,628 | 451,607 | ||
| ADJUSTMENTS FOR: | ||||||||
| Depreciation charges |
173,191 | 164,481 | ||||||
| Increase in stocks |
(5,357) | (3,942) | ||||||
| Increase in debtors |
(72,924) | (70,605) | ||||||
| Increase/(decrease) | in creditors | 548 | (356,036) | |||||
| Interest charges | 47,365 | 40,428 | ||||||
| Interest received | (664) | |||||||
| NET CASH PROVIDED BYOPERATING | ACTIVITIES | 438,787 | 225,933 | |||||
| ANALYSIS OF CASH AND | CASH EQUIVALENTS | |||||||
| Group | Group | |||||||
| 2023f | 2022 | |||||||
| Cash in hand |
1,081,850 | 849,139 | ||||||
| ANALYSIS OF CHANGES | IN NET DEBT | |||||||
| At 1 April | At 31 March | |||||||
| 2022 | Cash flows | 2023 | ||||||
| f. | ||||||||
| Cash at bank and | in | hand | 849,139 | 232,711 | 1,081,850 | |||
| Debt due within 1 year |
(155,884) | (155,884) | ||||||
| Debt due after 1 year |
(1,102,278) | 108,519 | (993,759) |