**REGISTERED COMPANY NUMBER: 01774753 (England and Wales) REGISTERED CHARITY NUMBER: 288438** 

## **REPORT OF THE TRUSTEES AND** 

**AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** 

## **FOR** 

## **ATKINSON MORLEY'S HOSPITAL NEUROSCIENCES RESEARCH FOUNDATION(THE)** 



**ATKINSON MORLEY'S HOSPITAL NEUROSCIENCES RESEARCH FOUNDATION(THE) CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** 

|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|5|
|**Report of the Independent Auditors**|6|to|8|
|**Statement of Financial Activities**||9||
|**Balance Sheet**||10||
|**Notes to the Financial Statements**|11|to|17|





**ATKINSON MORLEY'S HOSPITAL NEUROSCIENCES RESEARCH FOUNDATION(THE)** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021** 

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). 

## **OBJECTIVES AND ACTIVITIES** 

## **Objectives and aims** 

The principal aims of the Foundation are to undertake and promote, for the public benefit, research into the development of the neurosciences at the Atkinson Morley's Neurosciences Unit at St Georges Hospital and, in particular, to provide for research staff, equipment and buildings, and the publication of the useful results of such research. 

The council members confirm that they have complied with the duty in Section 4 of the Charities Act 2006 to have due regard to the guidance on public benefit published by the Charity Commission. 

In furtherance of these aims, the Foundation raises funds to finance patient-care orientated activities which include: 

- Research into methods of treatment and their effectiveness. 

- The conduct of trials of new equipment and techniques to increase their diagnostic accuracy and safety, as well as continuously improving the treatment methods flowing from them. 

- The purchase or construction of new equipment of proven value or when other experience justifies. 

- - The funding of a neurosurgery research fellow (McKissock/Fletcher Fellow) to undertake research potentially leading to a higher degree/PhD 

Breakthroughs in treatment from money supplied by the Charity include: 

- Intraspinal pressure monitoring to improve the management of patients with spinal cord injury. 

- New surgical treatment for spinal cord injury. 

- New treatments for subarachnoid haemorrhages. 

- New methods of diagnosis for small vessel disease using advanced Magnetic Resonance Imaging. 

- Project looking for evidence of the cognitive and biochemical changes of frontotemporal dementia in patients with inflammatory arthritis following a recent described link between certain forms of young onset dementia and autoimmune conditions. 

- A Clinical trial into a novel surgical treatment (microdialysis analyser, Laser Speckle imager) used in research and during routine surgery to increase safety. 

All these areas of research are for the benefit of patients. 

The Foundation's principal activity during the year was the continued funding of research fellowships, to which it contributed a total £1,155 (2020: £14,002 ). It has also funded the purchase of equipment and consumables totalling £7,870 (2020: £7,870), and facilitated attendance at local and international conferences by providing travel and subsistence support totalling £1,351 (2020: £11,347). The financial statements and accompanying notes fairly reflect the totality of income and costs of the Foundation; it is not dependent on the service's of unpaid volunteers, donations-in-kind or other intangible income, other than the administrative services of the council of members which is given free of charge. 

During 2020 the Neurosciences Research Foundation was required by the AMRC to reapply for membership. The NRF was delighted to receive continued membership for a further five years. Membership is only given when charities comply with stringent requirements regarding their governance and working practices and this therefore is a reflection of the high standards practised by the NRF. 

The AMRC review process stimulated NRF to install an independent, user friendly, fit for purpose website. There are already encouraging signs that this may encourage more donations to the NRF. Since 31st March 2021 the NRF has instituted changes to its governance structure which comply with AMRC standards. These will be included in the 2021/2022 report and accounts. 

Page 1 



## **ATKINSON MORLEY'S HOSPITAL NEUROSCIENCES RESEARCH FOUNDATION(THE)** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021** 

## **OBJECTIVES AND ACTIVITIES** 

## **Grantmaking** 

The Grants Review Committee meets periodically to assess applications for funding. There were no new grants awarded in the year to 31 March 2021. 

The 'Injured Spinal cord pressure evaluation' project continues to be funded by the Fletcher Fellowship Fund, lead by Prof Marios Papadopoulos. 

Donations and fees may also be received directly from donors for specific projects. In such cases the funds are allocated to the appropriate restricted fund and used without the need for specific approval from the Grant Review Committee. 

## **Existing projects** 

A new McKissock research fellow was appointed on 1st August 2020: Visagan Ravindran. Mr Ravindran is also a neurosurgical trainee that has taken three years off his training to complete a PhD. We expect his salary to be covered by Wings for Life through a research grant awarded to Samira Saadoun and Marios Papadopoulos. Outside the Wings for Life grant funding period, the salary will be covered by the Neurosciences Research Foundation. 

## **Plans for future periods** 

The aim of the charity is to continue to raise funds to finance patient-care orientated activities. 

## **Update on projects** 

The McKissock fellow, Florence Hogg completed her PhD at the end of July 2020 and has received her award from the St George's University of London. 

## **ACHIEVEMENT AND PERFORMANCE** 

## **Charitable activities** 

During the year, £28,829 (2020 £139,351) of the Foundation's incoming resources comprised individual and corporate donations including Gift Aid. The remaining £162 (2020: £490) comprised investment income. Charitable expenditure totalled £28,428 (2020: £61,926). The unrestricted funds made a surplus of £3,840 (2020: £958 ), and the restricted funds made a shortage of £3,277 (2020: £76,957 surplus), making an aggregate surplus of £563 (2020: £77,915). 

## **COVID-19 Pandemic** 

During the current pandemic the Charity has been fortunate enough to continue to receive its regular donations through standing orders. This is a steady income although only amounting to an estimated £2,500 per year. However, with the cancellation of major sponsored events such as the London and Brighton marathons our income from that sector has been greatly reduced if not entirely eradicated. We were lucky enough to be named 'Charity of the Year' by a major London corporation who had intended to run various fundraising events on our behalf, the majority of which were subsequently cancelled. We had hoped that the generosity of this company would be a major contribution to our funds this year unfortunately this was not to be. Expenditure on travel to conference and/or research meetings has obviously reduced, in turn though our researchers have been unable to present the research they have been undertaking and thereby promoting the work of the Charity. We have not as yet had to use our reserves as research projects are not undertaken without the funds being available we do not rely on future funding to complete current projects. 

## **FINANCIAL REVIEW** 

## **Investment policy and objectives** 

In July 2008, due to volatility in the stock market, the decision was made to liquidate the charity's investment portfolio. 

The charity's funds are currently held as cash and on short term deposit. 

## **Reserves policy** 

At the year end, unrestricted funds amounted to a surplus of £89,653 (2020: £85,813), this amount is considered to be freely available reserves. 

The long term policy of the foundation is to accumulate reserves to a sustainable level, sufficient to cover the charity's annual expenditure on meeting its objects. this position will be reviewed regularly, in light of the charity's circumstances and the level of its income security. 

## **Principal Funding Source** 

The principal funding source for the charity is voluntary donations. Most of the donations are through restricted funds and are used for undertaking research into the neurosciences at the Atkinson Morley's Neurosciences Unit at St Georges Hospital. 

Page 2 



**ATKINSON MORLEY'S HOSPITAL NEUROSCIENCES RESEARCH FOUNDATION(THE)** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021** 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Status** 

The Atkinson Morley's Hospital Neurosciences Research Foundation is a company limited by guarantee, number 017774753 and the liability is limited to not more then 50p per member of the company. 

## **Governing document** 

The company was incorporated on 1 December 1983, as a company limited by guarantee, with the members to contribute up to 50 pence in the event of the company being wound up. Under clause 4 of its Memorandum of Association, the company is not permitted to pay dividends to its members. 

The company is a registered charity, number 288438. 

## **Recruitment, induction and training of new trustees** 

Potential new trustees are selected from those known to the council to have the appropriate experience and qualifications. New trustees are provided with a copy of the Memorandum of Association and are fully informed of their legal obligations under charity and company law. Trustees are encouraged to attend appropriate external courses to enable them to carry out their role. 

## **Organisational structure** 

The charity has a council of eleven members consisting of ten professionals and one lay members. The council members come from a variety of professional backgrounds relevant to the work of the charity. The council are responsible for the broad strategy and areas of activity for the charity, including consideration of grant making, investment, reserves and risk management policy and performance. The day to day administration of the charity is delegated to the secretary. 

The charity is also a member of the Association of Medical Research Charities (AMRC). The AMRC provides much helpful information on good practice, changes in the law affecting charities, and acts as an authoritative lobby on behalf of the medical research foundations with government and regulators. 

## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 

01774753 (England and Wales) 

## **Registered Charity number** 

288438 

## **Registered office** 

St George's University of London Academic Neurosurgery Unit Cranmer Terrace, Tooting London SW17 0RE 

## **Trustees** 

Professor M Papadopoulos Consultant Professor B Austen Professor in Protein Sciences Dr A G Clifton Neuro Radiologist Mr A Dennis Retired Dr F Howe Physicist Dr D Wren Consultant Neurologist Mr P Minhas Consultant Dr J Madigan Consultant Dr A Zoumprouli Consultant Dr P Garrard Consultant Professor M Edwards Consultant 

## **Company Secretary** 

Mr R Evans 

Page 3 



## **ATKINSON MORLEY'S HOSPITAL NEUROSCIENCES RESEARCH FOUNDATION(THE)** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021** 

## **REFERENCE AND ADMINISTRATIVE DETAILS Auditors** 

Rothmans Audit LLP Statutory Auditors Chartered Accountants Fryern House 125 Winchester Road Chandlers Ford Hampshire SO53 2DR 

**Solicitors** Cooke Matheson 7-8 Gray's Inn Square London WC1R 5JQ **Bankers** HSBC Bank Plc 117 Balham High Road London SW12 9AS CAF Bank 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ 

## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** 

The trustees (who are also the directors of Atkinson Morley's Hospital Neurosciences Research Foundation(The) for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charity SORP; 

- make judgements and estimates that are reasonable and prudent; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. 

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

In so far as the trustees are aware: 

- there is no relevant audit information of which the charitable company's auditors are 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 auditors are aware of that information. 

## **AUDITORS** 

The auditors, Rothmans Audit LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting. 

Page 4 



## **ATKINSON MORLEY'S HOSPITAL NEUROSCIENCES RESEARCH FOUNDATION(THE)** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021** 

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. 

Approved by order of the board of trustees on 2 December 2021 and signed on its behalf by: 

Professor M Papadopoulos - Trustee 

Page 5 



## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF ATKINSON MORLEY'S HOSPITAL NEUROSCIENCES RESEARCH FOUNDATION(THE)** 

## **Opinion** 

We have audited the financial statements of Atkinson Morley's Hospital Neurosciences Research Foundation(The) (the 'charitable company') for the year ended 31 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 (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 31 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 Auditors' 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. 

## **Other information** 

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 

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 this gives rise to 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. 

## **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 Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the Report of the Trustees has 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 charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. 

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 take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. 

Page 6 



## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF ATKINSON MORLEY'S HOSPITAL NEUROSCIENCES RESEARCH FOUNDATION(THE)** 

## **Responsibilities of trustees** 

As explained more fully in the Statement of Trustees' Responsibilities, 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, disclosing, 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. 

## **Our 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 a Report of the Independent Auditors 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 the 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: 

- Obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on those laws and regulations that had a direct effect on the Financial Statements or that had a fundamental effect of the operations of the company. 

- Understanding how the company is complying with those regulations by making enquiries with management and those responsible for the legal and compliance procedures, including discussions on risk of litigation and known incidences of non-compliance. The key laws and regulations we considered in this context included the UK Companies Act and Health & Safety regulations. 

- Discussions were held within the engagement team regarding how and where fraud might occur in the Financial Statements and any potential indicators of fraud. As part of this discussion, we identified potential risk areas such as estimates used by management in accounting for revenue on contracts and related balances. The risks were addressed by ensuring audit procedures assessed the reasonableness of the method for accounting for contracts and the estimates made, and evaluating whether there was any sign of management bias. 

- Assessing the susceptibility of the company's financial statements to material misstatement, including how fraud might occur, involved audit procedures including journal entry testing, with a focus on journals indicating large or unusual transactions based on our understanding of the business, as well as journals made outside of normal working hours. These audit procedures were designed to provide reasonable assurance that the financial statements were free from material fraud or error. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. 

Page 7 



## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF ATKINSON MORLEY'S HOSPITAL NEUROSCIENCES RESEARCH FOUNDATION(THE)** 

## **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 charitable company's members those matters we are required to state to them in an auditors' 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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. 

Robin Lloyd FCA (Senior Statutory Auditor) for and on behalf of Rothmans Audit LLP Statutory Auditors Chartered Accountants Fryern House 125 Winchester Road Chandlers Ford Hampshire SO53 2DR 

13 December 2021 

Page 8 



## **ATKINSON MORLEY'S HOSPITAL NEUROSCIENCES RESEARCH FOUNDATION(THE)** 

## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021** 

|**2021**<br>Unrestricted<br>Restricted<br>**Total**<br>fund<br>funds<br>**funds**<br>Notes<br>£<br>£<br>**£**<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>3<br>**11,854**<br>**4,413**<br>**16,267**<br>**Charitable activities**<br>Funding of research projects at St George's<br>Hospital, London<br>**-**<br>**38**<br>**38**<br>Investment income<br>4<br>**162**<br>**-**<br>**162**<br>Other income<br>**-**<br>**12,524**<br>**12,524**<br>**Total**<br>**12,016**<br>**16,975**<br>**28,991**<br>**EXPENDITURE ON**<br>**Charitable activities**<br>5<br>Funding of research projects at St George's<br>Hospital, London<br>**8,176**<br>**20,252**<br>**28,428**<br>**NET INCOME/(EXPENDITURE)**<br>**3,840**<br>**(3,277)**<br>**563**<br>**RECONCILIATION OF FUNDS**<br>**Total funds brought forward**<br>**85,813**<br>**224,488**<br>**310,301**<br>**TOTAL FUNDS CARRIED FORWARD**<br>**89,653**<br>**221,211**<br>**310,864**|2020<br>Total<br>funds<br>£<br>114,182<br>14,007<br>490<br>11,162|
|---|---|
||139,841<br>61,926|
||77,915<br>232,386|
||310,301|



The notes form part of these financial statements 

Page 9 



## **ATKINSON MORLEY'S HOSPITAL NEUROSCIENCES RESEARCH FOUNDATION(THE)** 

## **BALANCE SHEET 31 MARCH 2021** 

|Unrestricted<br>Restricted<br>fund<br>funds<br>Notes<br>£<br>£<br>**CURRENT ASSETS**<br>Cash at bank<br>**97,047**<br>**221,211**<br>**CREDITORS**<br>Amounts falling due within one year<br>11<br>**(7,394)**<br>**-**<br>**NET CURRENT ASSETS**<br>**89,653**<br>**221,211**<br>**TOTAL ASSETS LESS CURRENT LIABILITIES**<br>**89,653**<br>**221,211**<br>**NET ASSETS**<br>**89,653**<br>**221,211**<br>**FUNDS**<br>12<br>Unrestricted funds<br>Restricted funds<br>**TOTAL FUNDS**|**2021**<br>**Total**<br>**funds**<br>**£**<br>**318,258**<br>**(7,394)**<br>**310,864**<br>**310,864**<br>**310,864**<br>**89,653**<br>**221,211**<br>**310,864**|2020<br>Total<br>funds<br>£<br>321,533<br>(11,232)|
|---|---|---|
|||310,301|
|||310,301|
|||310,301|
|||85,813<br>224,488|
|||310,301|



These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. 

The financial statements were approved by the Board of Trustees and authorised for issue on 2 December 2021 and were signed on its behalf by: 

Professor M Papadopoulos - Trustee 

The notes form part of these financial statements 

Page 10 



**ATKINSON MORLEY'S HOSPITAL NEUROSCIENCES RESEARCH FOUNDATION(THE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** 

## **1. CHARITY INFORMATION** 

The Atkinson Morley's Hospital Neurosciences Research Foundation is an Incorporated Charity, limited by guarantee, incorporated in England and Wales. The registered company number is 01774753. 

The registered office address of the charity is St Georges University of London, Academic Neurosurgery Unit, Cranmer Terrace, Tooting, London, SW17 0RE. 

The Atkinson Morley's Hospital Neurosciences Research Foundation is registered as a charity with Charity Commission under registration number 288438. 

The principal activity of the Charity is the diagnosis and treatment of disorders affecting the brain, skull, spine and nervous system. 

The presentation currency used in the financial statements is the Pound Sterling (£). 

## **2. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. 

## **Going Concern** 

The trustees consider it appropriate to prepare the financial statements on a going concern basis. 

## **Income** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

## **Expenditure** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

## **Allocation of support costs** 

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. The costs are allocated to each fund in direct proportion to expenditure on charitable activities by that fund during the year. 

## **Charitable activities** 

Direct charitable expenditure comprises services supplied and activities undertaken which are identifiable as wholly or mainly in support of the Charity's objectives. 

## **Governance costs** 

Governance costs comprise the costs which are directly attributable to the management of the Charity's assets, organisational procedures and the necessary legal procedures for compliance with statutory requirements. 

## **Taxation** 

The charity is exempt from corporation tax on its charitable activities. 

## **Fund accounting** 

Funds held by the charity are either: 

Page 11 

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**ATKINSON MORLEY'S HOSPITAL NEUROSCIENCES RESEARCH FOUNDATION(THE)** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021** 

## **2. ACCOUNTING POLICIES - continued** 

## **Fund accounting** 

## **Unrestricted funds** 

Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds. 

## **Restricted funds** 

Restricted funds are those where specific conditions have been imposed by the donor, or when funds are raised, regarding the fund's use or purpose. 

## **Debtors** 

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

## **Cash at bank and in hand** 

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 

## **Creditors** 

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any discounts due. 

## **Financial instruments** 

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 

## **Judgements and Estimates** 

The trustees do not consider there to be any material judgements. Estimates include expense accruals which are based on pre-agreed rates and historical costs. 

## **3. DONATIONS AND LEGACIES** 

|Donations, legacies & similar<br>**INVESTMENT INCOME**<br>Bank interest receivable|**2021**<br>**£**<br>**16,267**<br>**2021**<br>**£**<br>**162**|2020<br>£<br>114,182|
|---|---|---|
|||2020<br>£<br>490|



## **4. INVESTMENT INCOME** 

Page 12 

continued... 



**ATKINSON MORLEY'S HOSPITAL NEUROSCIENCES RESEARCH FOUNDATION(THE)** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021** 

## **5. CHARITABLE ACTIVITIES COSTS** 

|Direct<br>Costs (see<br>note 6)<br>£<br>Funding of research projects at St<br>George's Hospital, London <br>**9,342**<br>**6.**<br>**DIRECT COSTS OF CHARITABLE ACTIVITIES**<br>Equipment & Consumables<br>Conferences, courses & meetings<br>Subscriptions<br>Other<br>Research salaries and costs<br>**7.**<br>**NET INCOME/(EXPENDITURE)**<br>Net income/(expenditure) is stated after charging/(crediting):<br>Auditors' remuneration|Support<br>costs<br>£<br>**19,086**<br>**2021**<br>**£**<br>**844**<br>**1,351**<br>**676**<br>**5,316**<br>**1,155**<br>**9,342**<br>**2021**<br>**£**<br>**3,000**|Totals<br>£<br>**28,428**|
|---|---|---|
|||2020<br>£<br>7,870<br>11,347<br>812<br>8,994<br>14,002|
|||43,025|
|||2020<br>£<br>3,000|



## **8. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020. 

## **Trustees' expenses** 

There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020. 

## **9. EX GRATIA PAYMENTS** 

## **Honorariums** 

The only honorarium payments during the year were to Mr Roger Evans for his secretarial services to the charity. These payments totalled £2,500 (2020: £2,500) 

## **10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** 

|Unrestricted<br>Restricted<br>fund<br>funds<br>£<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>6,693<br>107,489<br>**Charitable activities**<br>Funding of research projects at St George's<br>Hospital, London<br>207<br>13,800<br>Investment income<br>490<br>-<br>Other income<br>70<br>11,092<br>**Total**<br>7,460<br>132,381|Total<br>funds<br>£<br>114,182<br>14,007<br>490<br>11,162|
|---|---|
||139,841|



Page 13 

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**ATKINSON MORLEY'S HOSPITAL NEUROSCIENCES RESEARCH FOUNDATION(THE)** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021** 

## **10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued** 

|||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||fund|funds|funds|
|||£|£|£|
||**EXPENDITURE ON**||||
||**Charitable activities**||||
||Funding of research projects at St George's||||
||Hospital, London|6,502|55,424|61,926|
||**NET INCOME**|958|76,957|77,915|
||**RECONCILIATION OF FUNDS**||||
||**Total funds brought forward**|84,855|147,531|232,386|
||**TOTAL FUNDS CARRIED FORWARD**|85,813|224,488|310,301|
|**11.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||
||||**2021**|2020|
||||**£**|£|
||Other creditors||**32**|932|
||Accruals and deferred income||**7,362**|10,300|
||||**7,394**|11,232|
|**12.**|**MOVEMENT IN FUNDS**||||
||||Net||
||||movement||
|||At 1/4/20|in funds|At 31/3/21|
|||£|£|£|
||**Unrestricted funds**||||
||General fund|**85,813**|**3,840**|**89,653**|
||**Restricted funds**||||
||Harrison Legacy|**7,387**|**(1,369)**|**6,018**|
||The Henry Marsh Neurosurgery Fund|**28,099**|**(1,627)**|**26,472**|
||Clinical Neuro-Sciences Fund|**116,614**|**(5,747)**|**110,867**|
||Andy Nicolau Fund|**191**|**(3)**|**188**|
||Henry Marsh Project Fund|**34,932**|**(2,020)**|**32,912**|
||Fletcher Fellowship|**-**|**3,391**|**3,391**|
||Mark Edwards|**11,263**|**(3,701)**|**7,562**|
||Erlick Pereira|**15,877**|**8,384**|**24,261**|
||M Lucas|**8,852**|**(512)**|**8,340**|
||P Garrard|**1,273**|**(73)**|**1,200**|
|||**224,488**|**(3,277)**|**221,211**|
||**TOTAL FUNDS**|**310,301**|**563**|**310,864**|



Page 14 

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**ATKINSON MORLEY'S HOSPITAL NEUROSCIENCES RESEARCH FOUNDATION(THE)** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021** 

## **12. MOVEMENT IN FUNDS - continued** 

Net movement in funds, included in the above are as follows: 

||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|**12,016**|**(8,176)**|**3,840**|
|**Restricted funds**||||
|Harrison Legacy|**-**|**(1,369)**|**(1,369)**|
|The Henry Marsh Neurosurgery Fund|**38**|**(1,665)**|**(1,627)**|
|Clinical Neuro-Sciences Fund|**1,689**|**(7,436)**|**(5,747)**|
|Andy Nicolau Fund|**-**|**(3)**|**(3)**|
|Henry Marsh Project Fund|**-**|**(2,020)**|**(2,020)**|
|Fletcher Fellowship|**-**|**3,391**|**3,391**|
|Mark Edwards|**4,024**|**(7,725)**|**(3,701)**|
|Erlick Pereira|**11,224**|**(2,840)**|**8,384**|
|M Lucas|**-**|**(512)**|**(512)**|
|P Garrard|**-**|**(73)**|**(73)**|
||**16,975**|**(20,252)**|**(3,277)**|
|**TOTAL FUNDS**|**28,991**|**(28,428)**|**563**|
|**Comparatives for movement in funds**||||
|||Net||
|||movement||
||At 1/4/19|in funds|At 31/3/20|
||£|£|£|
|**Unrestricted funds**||||
|General fund|84,855|958|85,813|
|**Restricted funds**||||
|Harrison Legacy|9,840|(2,453)|7,387|
|The Henry Marsh Neurosurgery Fund|36,767|(8,669)|28,098|
|Clinical Neuro-Sciences Fund|38,825|77,790|116,615|
|Andy Nicolau Fund|198|(7)|191|
|Henry Marsh Project Fund|37,077|(2,145)|34,932|
|Mark Edwards|23,260|(11,997)|11,263|
|Erlick Pereira|1,564|14,313|15,877|
|M Lucas|-|8,852|8,852|
|P Garrard|-|1,273|1,273|
||147,531|76,957|224,488|
|**TOTAL FUNDS**|232,386|77,915|310,301|



Page 15 

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**ATKINSON MORLEY'S HOSPITAL NEUROSCIENCES RESEARCH FOUNDATION(THE)** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021** 

## **12. MOVEMENT IN FUNDS - continued** 

Comparative net movement in funds, included in the above are as follows: 

||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|7,460|(6,502)|958|
|**Restricted funds**||||
|Harrison Legacy|-|(2,453)|(2,453)|
|The Henry Marsh Neurosurgery Fund|150|(8,819)|(8,669)|
|Clinical Neuro-Sciences Fund|95,430|(17,640)|77,790|
|Andy Nicolau Fund|-|(7)|(7)|
|Henry Marsh Project Fund|-|(2,145)|(2,145)|
|Mark Edwards|3,000|(14,997)|(11,997)|
|Erlick Pereira|23,056|(8,743)|14,313|
|M Lucas|9,395|(543)|8,852|
|P Garrard|1,350|(77)|1,273|
||132,381|(55,424)|76,957|
|**TOTAL FUNDS**|139,841|(61,926)|77,915|



The Harrison Legacy is reserved for contributions to the salary of a lecturer in Neurology or Neurosurgery. 

The Henry Marsh Neurosurgical Fund is reserved for expenditure on equipment and expenses related to the education and advancement of neurosurgeons both in the UK and abroad. 

The Clinical Neurosciences Fund constitutes a large number of smaller restricted funds which are not analysed individually. Each fund is reserved for expenditure in line with some or any of the aims of the Foundation, but at the discretion of the individual fund-holders rather than the Council Members as a whole. 

The Henry Marsh Project Fund covers expenditure on equipment and expenses related to projects that enhance neurosurgical patient care. 

The Fletcher Fellowship Fund is reserved for contributions to the salary and expenses of a neurosurgical researcher. 

## **13. RELATED PARTY DISCLOSURES** 

There were no related party transactions for the year ended 31 March 2021 (2020: £nil). 

## **14. ULTIMATE CONTROLLING PARTY** 

There is no ultimate controlling party. 

Page 16 

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**ATKINSON MORLEY'S HOSPITAL NEUROSCIENCES RESEARCH FOUNDATION(THE) NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021** 

## **15. MEMBER'S GUARANTEES** 

The Foundation is a company limited by guarantee, the liability of each member being limited to 50 pence. 

Page 17