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 2024
FOR
ATKINSON MORLEYS HOSPITAL
NEUROSCIENCES RESEARCH FOUNDATION (THEI

ATKINSON MORLEY'S HOSPITAL
NEUROSCIENCES RESEARCH FOUNDATION ITHEI
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Page
Rèport of thè Trust•ès
Report of the Independent Auditors
Statement of Financial Activitie¥
Balance Sheet
10
Notes to the Financial Statements
11 to 18

ATKINSON MORLEY'S HOSPITAL
NEUROSCIENCES RESEARCH FOUNDATION ITHEI
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
The trustees who ale also directois of the charity foi the purposes of the Cornpanies Act 2006, present their report wi(h
the financial statements ol the charity for the year ended 31 March 2024 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 Practi￿ applicable to charities
preparing their accounts in accordance with the Financial Reporting St8ndard applicable in the UK and Republic of
Ireland IFRS 1021 leffective 1 January 20191.
OBJECTIVES AND ACTIVITIES
Objectives and aim8
The principal aims of the Foundation are to undert8ke and promote. for the public benefit. research into the
development of the clinical neuroscience5 at the Atkinson Moiley's Neuroscience5 Unit at St Georges Hospital and, in
particulai, to provide foi research staff, equipment and buildings, and the publication of the usefLJI results of such
research.
The council members confirrn that they have complied with the duly in Section 4 of the Charities Act 2006 to have due
regard to the guidance on public benefit published by the Chaiity Commission.
In furtherance of these aims, the Foundation raises funds to finance patient-care orientated activities which include..
Research into methods of Irealmenl and their effectiveness.
The conduct of trials of new equipment and techniques to increase their diagnostic accuracy and safety, as well
continuously improving the treatment methods flowing from them.
The purchase or construction of new equipment ol proven value or when other experience justifies.
The funding of a neurosurgery research fellow IMcKissocklFletcher Fellow) to undertake research potentially leading
10 8 higher degreelPhD
as
Breakthroughs in treatment from money supplied by the Charity include".
Inlraspinal pressure monitoring to improve the management of patients with spinal cord injury.
New surgical Irealmenl for spinal cord injury lexpansion duropl851yl
New tieatrnents for subarachnoid h8emotrhages.
New medical equipment Imicrodialysis analyser, Laser Speckle imager) used in research and during routine surgery
lo increase safety.
Completion of his PhD by the Mcissock Fellow, Mr Ravinran Visagan
All these aie8s 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 £33,34512023.' £25,3691. It has also funded the purchase of equiprnent and consumables totalling
£12,223 12023.. £18,812), and f8cilit8ted attendance 8t Ioc818nd Intemational conferences by pioviding tr8vel and
subsISten￿ support totalling £14.635 12023. t26,5481. The financial statement5 and accompanying notes faidy ieflect
the totality of income and costs of the Foundation., it is not dependent on the service's of unpaid volunteers,
donalions-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 Neuroscience5 Research Foundatlon Wa5 required by the AMRC to reapply for rnetllber5hip. 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 st8ndards practised by the NRF.
Page 1

ATKINSON MORLEY'S HOSPITAL
NEUROSCIENCES RESEARCH FOUNDATION ITHEI
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
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 2024.
The 'lnjured Spinal cord pressure evaluation, project originally fund8d by the now dosed the Fletcher Fellowship Fund,
continue5 to be led by Prof Mari05 Papadopoulo5.
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
McKissock Research Fellow
A new McKi550ck research fellow w8s appointed on 1st August 2022.. Mr Hasan Asif. We expect his salary to be
covered by Wings lor Life through a research grant awarded to Samiia Saadoun and Maiios Papadopoulos. Outside the
Wings lor Life grant funding period, the salary will be covered by the Neurosciences Research Foundation, as wll Mr
Asifs PhD Fees.
Francesca Morgante Fund Report
l am happy to report that thanks to the donations received and grants fitsm outside institutions held and managed by the
NRF to cover Dr Tom Hart's salary, Pho fees and the equipment bought, we were able to complete a research project
on Kinematic features of Dystonia from which 3 research papers have resulted. Which are currently being written by Dr
Hart. One of these papers has been selected for oral platform presenl8tion at the next congress of the International
Parkinson's disease and Movement Disorders Society which will be held in Cin¢innali. This is a congress gathering of
SOOO delegates. Dr Hart will present the study, it is really a great htsnour to have been selected. Aso, Dr Lucia
Ricciardi and I will be speakers at the same conference. Once the papers are published, I will inform the NRF, l expect
lo submit the first in December.
With Roberta Di Frai8. Movement Disorder Assistant Praclilioner. salary. we are funding her work on a DBS d8labase.
this IS Still a work in progies5 which wll help us lo do a series of clinical studies in people with Parkinson's dise85e and
Deep Brain Stimulation.
Mike Hart Fund
In the past 12 months. I have used my NRF fund to develop my lab and research infrastructure in image guided
neuromodul81ion. This has led on lo wnference 8bstiacts and presentations al Intemational meetings e.g., 4th year
medical student Stephanie Fang presenting at the Internation Neuromodulation Society meeting in Vancouver this May.
Our goal now is to translate these works into open-access journal publications which can then be used as the foundation
for more substantive funding applications. Additionally. we will use a portion of these funds to encourage continuing
professional education and iese3rch skill acquisition wlhin the 13b.
Erlick Pereira Fund
In 2023, the neuromodulation research group expanded to include neurosurgery trainees and research fellows Teresa
Scott and Alaa Al-mohamed with interests in sustainability, patient perceptions of neuromodulation research and digital
applications to improve deep brain slitnulalion ac¢ura¢y.
Alex Alamri progre55ed wlh his PhD research in
physiom8rkers of neurosurgery for neuropathic pain in spin31 cold injury and NIHR Clinical Lecturei Rahul Shah
continued his research into electrophysiological biomarkers ol pain in spinal cord stimulation and deep brain stimulation.
Senior Lecturer Mike Hart commence 7 Tesla MRI imaging ol patients undergoing deep brain stimulation and Research
Assistant Bryony Ishihara continued her related imaging research into radiofrequency lesioning. International Observer
Redab Al Khataybeh, a Jordan trained neurosurgeon commenced research into deep brain slirnulalion surgical software
accuracy. The group presented at the Brrtish Society of Stereot8Ctic and Functional Neu105urgery in Briston and senior
members attended the European Society of Stereotactic and Functional Neurosurgery in Stockholm and directed the
Royal Marsden Cancer pain Interventions course. Small amounts of scientific and computer equipment were funded.
12 peer reviewed papers were published in 2023 and strong collaborations continue with scientists and engineers from
Oxford and Imperial College London and now King's College London l Guys. and Sl Thomas,. In the 2024. the group
th be hosting the British Society of Stereotactic and functional Neu105LJrgery meeting in London and 8 new NIHR
Academic Clinical Fellow will commence alongside new academic I specialised Foundation doctois, all with dedicated
research periods.
Plans for futurè periods
The aitn of the charity Is to continue to raise funds to finance patient-care tsiientated activrties.
Page 2

ATKINSON MORLEY'S HOSPITAL
NEUROSCIENCES RESEARCH FOUNDATION ITHEI
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year, £47,256 12023." £22,198) of the Foundation's incoming resources comprised individual and corporate
donations including Gift Aid. A further £14,400 12023.'£ 18,0001 of grant income was received and £13,518 12023..
£10,2171 of contributions were received to research projects. The remaining £5,421 12023.. £1,643) comprised
investment income.
Chaiitable expendituie totalled £94,367 12023." £102,188). The unie5tricted funds had net expenditure of £913 12023..
net expenditure of £2,306), and the restricted funds had net expenditure of £13,077 12023.. £48,040), making an
aggregate net expenditure of £13,99012023.' £50.3461.
FINANCIAL REVIEW
Investment policy and objectives
The charity's funds are currently held as cash and on short term deposit.
ReBerve8 policy
The long terrn poliry of the foundation is lo awumulale reserves lo a sustsinable level, suffi¢ienl lo wver the charitys
annual expenditure on tneeting its objects. This position wll be reviewed iegularly, in light of the charity'5 circumst8nce5
and the level ol its income security.
At the year end. unrestricted funds amounted to a surplus of £86,43912023'. £87.3521. this amount is considered to be
freely available reserves and is sufficient to fund se¥er81 years of annual expenditure Ibased on the level of unrestiicted
Costs in the current yeail.
Additionally, the charity held restricted funds of £157,e32 12023.. £170,709) which will be expended in future periods.
Further information on the purpose of each restricted fund can be found in the notes to these financial statements.
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 Morfey's Neurosciences Unit at St
Georges Hospital.
STRUCTURE, GOVERNANCE AND MANAGEMENT
ststus
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 incoiporated on 1 December 1983, as a company limrfted by guarantee (company number
017747531, with the members to contribute up to 50 pen￿ in the event ol the company being wound up. Under clause 4
of rts Memorandum of Association, the company is not perrnitted to pay dividends to rts members.
The cornpany is a regi5teied charity, number 288438.
Recruitment, induction and training of new trustees
Potential new trustees are selected from those known lo the council to have the appropriate experien￿ and
qU81ifications. New trustees are provided with a copy of the Memorandum of Association and are fully informed of their
legal obligations under chaiity and cornpany law. Ttustee5 are encouraged to attend appropnate exteinal couise5 to
enable them to carry out their role.
Organisational $truetur•
The charity has a council of six members consisting of five professionals and one lay rnember. The Council members
cotne fiotn a variety of profe5510nal backgrounds relevant to the work ol the chaiity. The council ale ie5pon5ible for the
bioad strategy and areas of activity foi the charity, Including consideration of grant making, investment, reserves and
risk management policy and performance. The day to day administration of the charity is delegated to the secretary.
The charity is also a rnember of the Asso¢ialion of Medical Research Charities IAMRCI. The AMRC provides much
helpful infoirnalion on good pra￿l¢e. changes in the law affecting charities. and a￿$ 85 an aulhorilalive lobby on behalf
of the medical research foundations with govemment and regulators.
Page 3

ATKINSON MORLEY'S HOSPITAL
NEUROSCIENCES RESEARCH FOUNDATION ITHEI
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
The management committee conduct a review ol the major risks to which the charity is exposed. Where appropriate,
systems or procedures have been established to mitigate the risks the charity faces. Internal control risks are minimised
by its implementation of procedures for aulhorisation of all transactions and projects. Procedures are in place to ensure
compliance wth health and safety regulation5.
The main risks going fotward are drop in donations to the charity and the unpredictable nature of donations. To
encourage donations we continually update our new website and remain a member of JustGiving. Leaflets are sent out
regularly lo ex patients who have shown an interest in the work of the charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
01774753 (England and Walesl
Reglstered Charlty number
288438
Registered office
St George's University of London
Academic NeLJrosurgery Unil
Cranmer Teiiace Tootin9
London
Trustees
Mr M Papadopoulos
Mi M Edwards (resigned 30.11.231
Mr P Garrard
Mr P S Minhas
Dr J Madigan (resigned 1.8.241
Dr A Zoumprouli
Dr D Wren (resigned 31.10.231
Mr A J Dennis
Prof B M Austen
Company S•erètary
Mi R Evan5
Auditors
Rothrnans Audit LLP
1 sl Floor
ChihNOrth Point
1 Chihfiforth Road
Southampton
Hampshire
S016 7JQ
Solicitors
Cooke Matheson
7-8 Gray's Inn Square
London
WC1R 5JQ
Bankers
HSBC Bank PIC
117 Balham High Road
London
SW12 9AS
CAF Bank
25 Kings Hill Avenue
King5 Hill
West Malling
Kent
ME19 4JQ
Page 4

ATKINSON MORLEY'S HOSPITAL
NEUROSCIENCES RESEARCH FOUNDATION ITHEI
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The tIU5tees (who are also the diiectois of Atkinson Modey's Hospital Neuroscience5 Research Found8tion (fhel foi the
purposes of company lawl 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 AC￿pted
Accounting Practice) including Financial Reporting Standard 102 "The Finanaal Reporting Standard applicable in the
UK and Republic of Ireland"
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 resour￿$ and application of reSoUr￿s, induding
the income and expenditure. of the charitable cornpany for that period. In preparing those financial staternents, the
trustees are required to
select suitable accounting policies and then apply them consistently",
observe the methods and principles in the Charity SORP.,
rnake judgements 8nd eslirnates that are reasonable and prudent..
prepare the financial slalemenls on the going concern basis ijnless il is inappropriate to presume that the charitable
company will contiriue in business.
The trustees are responsible for keeping proper accounting records which disdose with reasonable accuracy at any
lime the financial position of the charitable company and lo enable them to ensure that the financial statements cornply
with the Companies Act 2(X16. They are also responsible for safeguarding the assets of the charitable company and
hence for taking reasonable steps for the prevention and detection ol fraud and other iiregularities.
In so far as the trustees are aware..
Iheie 15 no relevant audit infonnalion of which the charitable wmpany's auditors are un8w8re.' and
the trustee5 have tsken 811 steps that they ought to h8ve taken to rnake themselve$ aware of any relevant audit
information and to establish that the auditors are aware of that information.
AUDITORS
The auditors. Rothm8n$ Audit LLP. will be proposed for re-appointment al the forthcoming Annual General Meeting.
This report has been prepared in accordance with the speaal provisions of Part 15 01 the Companies Act 2006 relating
lo small companies.
16th De￿mber 2024
Approved by order of the board of trustees on ............................................. and signed on ils behalf by..
Mr M Pap8
opoulos- Trustee
Page 5

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ATKINSON MORLEY'S HOSPITAL
NEUROSCIENCES RESEARCH FOUNDATION ITHEI
Opinion
We have audited the financial staternents of Atkinson Morleys Hospital Neurosaences Research Foundation (The) Ithe
'charilable company) for the year ended 31 March 2024 which cornprise the Staternent of Financial Activities, the
Balance Sheet and notes to the fin8nci81 5taternents, including a surnrnary of significant accounting policies. The
financial reporting framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice), including Finanaal Reporting
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland..
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 2024 and tsf 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, including
Fin8NCI81 Reporting Stsndard 102 'The Fin8nci81 Reporting Standard applicable in the UK and Republic of Ireland,:
and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit IN ac￿rdan￿ wlh INlemalional SlaNd8rds on Auditing IUKI IISAS IUKII and applicable law.
Our responsibilities under those standards are further described in the Auditors, respon51bilities for the audit of the
financial statements section of our report. We ale independent ol the chaiitable company in accordance wth the ethical
requirements that are relevant to our audit ol the finanaal 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 thal the audit
evidence we have obtained is SLJfficient and appropiiale lo provide a basis for our opinion.
Conclusions relating to going concem
In auditing the financial statements, we have conduded 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 perfoirned. we have not identrfied any material uncertainties relating lo events or conditions
that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going
concem for a period of at least twelve months from when the financial statements are authorised for issue.
Our ie5ponsibililies and the respon5ibililies of the trustees with respect to going concern ale described in the relevant
sections of this ieport.
Empha818 of matter
We draw attention to note 11 to the financial statements which explains a prior year adjustment made.
Our opinion is not rnodified in respect of thi5 rnatter.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the
Annu81 Report. olhei than the financial slalemenls and our Report of the Independent Audilois Ihereon.
Our opinion on the financial statements does not cover the other infomation and, except to the extent othenthse
explicitly stated in our report, we do not express any form of assurance condusion thereon.
In connection wlh our audit of the financial staletnen15. our responsibility is lo lead the other inform*ion and, in doing
so, consider whether the other infoirnatlon 15 Tnateri8lly incon51Stent with the financial statements or our knowledge
obtained in the audit or otherwse 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 Ihernselves. If, based on the work we have performed, we conclude that there is a material
misstaternent of this other information. we are required lo report that f8¢t. We have nothing lo 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 inforrnation given in the Report of the Trustees for the financial year for which the financial statements are
prepared is consistent with the financial slalemenls., and
the Report of the TIu5tees has been prepared in accordance with applicable legal requirernents.
Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ATKINSON MORLEY'S HOSPITAL
NEUROSCIENCES RESEARCH FOUNDATION ITHEI
Matters on which we are requirèd to rèport by èxception
In the light of the knowledge and understanding of the Charitable company and ils environment obtained in the course of
the audit, we have not identified material rni55t8tetnent5 in the Report of the Trustees.
We have nothing to report in respeci of the followng matters where the Companies Aci 20CQ 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
blanches not V151ted by us", or
the financial statements ale not in agreement with the accounting records and retums," 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 enlilled lo take advantage of the small cornp8nies exemption from the requirement lo prepare a
Stiategic Report or in preparing the Report of the Trustees.
Responsibilities of tru¥tee8
As explained more fully in the Statement of Trustees, Responsibilities. the trustees (who are 8lso the directors of the
charitable company for the purposes of cornpany lawl are responsible for the preparation of the financial ststements and
for being sat15fied that they give a true and fair view, and for such internal control as the trustees determine 15 necessary
to enable the preparation of financial statements that a￿ Iiee from material misstatement, whether due to fraud 01 error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to
continue as a going ooncern. disclosing, as applicable. rnatter5 related lo going conoern and using the going con￿rn
basis ol accounting unless the trustees either intend to IiqLJidate the charitable company 01 to cease operations, or have
no realistic aKernative but to do so.
Our responsrbilities for the audit of the financial statement8
Our objectives ale to obtain reasonable assurance about whether the financial statements 8s a whole are free from
material misstatement. whether due lo fraud or eiror, and to 155ue 8 Report of the Independent Auditors th* includes
our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS IUKI 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 slalernenls.
The extent to which our prO￿dureS are capable of detecting irregularities, including fraud is detailed below..
The objectives of our audit, in respect of fraud or error are..
To identify and assess the risks of rnateii81 mi55tatement of the financi81 st8tement5 dLJe to fraud.
To obtain sufficient appropriate audit evidence regarding the assessed risks ol material misstatement due to
fraud, through designing and implementing appropriate responses.
To respond appropriately to fraud or suspected fraud identified during the audit.
However, the piimary ie5ponsibility for the prevention and detection of fraud rests wth both those charged wrth
g0Veman￿ ol the entity and management. Our approach was as follows..
Enquiring of man8gernent, including obtaining 8nd reviewing supporting docurnentalion. concerning the
Charivs policies and procedures relating to"_identifying, evaluating and cornplying with laws and regulations
and whether they were aware of any InStan￿g of non-compliance;.detecting and ie5ponding to the risks of
fraud and whether they have knowledge of any actual, suspected or alleged fraud,. and-the internal controls
established to mitigate the risks related to fraud or non-compliance with laws and regulations.
Discussing among the engagement learn how and where fraud might occur in the Financial Slalernents and
any other potential indicators of fraud.
Obtaining an understanding ol the legal and regulatory frameworks that the charty operates in, focusing on
those laws and regulations that had a direct effect on the Financial Statements or that had a fundamental
effect on operations. These included the Companies Act 2006, the Charities Act 2022 and sanctions and
conflict check5.
Page 7

REPORT OF THE INDEPENDENT AUDITORS TO THE MEM8ERS OF
ATKINSON MORLEYS HOSPITAL
NEUROSGIENCES RESEARCH FOUNDATION ITHEI
W8 identi￿d the greatest risk of mat8ria1 impact on the financial ststetnents from irregularities. in¢luding fraud. lo be
with the, reC￿nitIon of incorne and th8 override of ￿ntrOlS by managomgnt. To address the risk of fraud in these areas..
We have reviewed all wnaterial 85timat85 aff8cling incom8, including compl8ten8S5 and acGuracy of
deferred and accrued income.,
We have 5ele£led a sample of transaction5 from material inCDme 5trearn5 and cornpared expected income
io that recorded wthin the financ4al 5tatements',
We have perfornled analytical procadures to Identify any unusual or unèxpected r6latlonships
We have tested i)urnal entries during the year and at the yearend lo identTfy unusual transactions
We have assèssed whethÈrjudgemenls ancl assumptions made in determinirwj the accounting esbm8tes
were indicative of polential bias
We heve inve8tigeted the rationale behind ￿gnIfiCent or unusual trarn8actions
We have r8Vi8w8d minut8s of meetings
W& have cornpared ￿SUItS of prèvious eslimates to outcomes.
TheE are inhererrt lirnilations in our audit proc8thres described abovg. The mor8 r8moved that18ws and reg￿ationS are
from financial tr8nsactions, lh8 185s lik81y it is that we would become aware of non-compliance. Auditing standards also
limit the audit prDcedure5 reqUI￿d to idelltify non-compliance with law8 and regulation5 to enquiry of the director5 and
other manag6¥nent and the in5pettion of regulatory and leg81 cO￿e8pOrd9n¢O, if any.
Material misstatements that arise due to fraud can L* harder to detect than those that arise from error as they may
involve deliberate concealment or collusion.
A further description of our responsibilities for the audit or the financial statements Is located on the Financial Reporting
Council's w8bsite at www.frc.org.uklauditorsrÈ$ponsibilitie$_ This doscriplion f(m)s part of our Report of the Independent
Auditors.
Use of our report
Thi5 report rs made solely to the charitable companls m8mb8rs. as a body, in accordaw with Chapter 3 of Part 16 of
Ihe Companies Acl 2006. Our audit work has b8en und8rtak&n so thal w8 rnight 8tat8 to the charitabl8 company,
members thosg mattors wc aro rcquifcd to stato to thom in an au&'iors' report antt for no olher purpose. To the fullest
extent permitted by law. we do not acc8Pt or assume responsibility lo anyone other than the Charitab￿ company 8nd the
chariiable company's mèmbers as a L￿dy, for our a￿lIt work, for this report, or for the apinions we have formed.
Lisa Wilson FCA ISenH)r Statutory Audilorl
for on behalf of Rothmans Audit LLP
1st Floor
Chilworth Point
1 Chilworth Road
Southampton
HaTnpshire
SO16 TJQ
Date..
1911212024
Pag8 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 2024 

|Unrestricted<br>fund<br>Notes<br>£<br>INCOME AND ENDOWMENTS FROM<br>Donations and legacies<br>3<br>11,137<br>Charitable activities<br>Funding of research projects at St George's<br>Hospital, London<br>-<br>Investment income<br>4<br>5,421<br>Total<br>16,558<br>EXPENDITURE ON<br>Raising funds<br>216<br>Charitable activities<br>5<br>Funding of research projects at St George's<br>Hospital, London<br>17,255<br>Total<br>17,471<br>NET INCOME/(EXPENDITURE)<br>(913)<br>RECONCILIATION OF FUNDS<br>Total funds brought forward<br>87,352<br>TOTAL FUNDS CARRIED FORWARD<br>86,439|Restricted<br>funds<br>£<br>50,519<br>13,516<br>-<br>64,035<br>-<br>77,111<br>77,111<br>(13,076)<br>170,708<br>157,632|2024<br>Total<br>funds<br>£<br>61,656<br>13,516<br>5,421<br>80,593<br>216<br>94,366<br>94,582<br>(13,989)<br>258,060<br>244,071|2023<br>Total<br>funds<br>£<br>40,198<br>10,217<br>1,643<br>52,058<br>216<br>102,188<br>102,404<br>(50,346)<br>308,406<br>258,060|
|---|---|---|---|



The notes form part of these financial statements 

Page 9 



## ATKINSON MORLEY'S HOSPITAL 

## NEUROSCIENCES RESEARCH FOUNDATION (THE) 

## BALANCE SHEET 31 MARCH 2024 

|Unrestricted<br>fund<br>Notes<br>£<br>CURRENT ASSETS<br>Debtors<br>12<br>5,652<br>Cash at bank<br>92,099<br>97,751<br>CREDITORS<br>Amounts falling due within one year<br>13<br>(11,310)<br>NET CURRENT ASSETS<br>86,441<br>TOTAL ASSETS LESS CURRENT LIABILITIES<br>86,441<br>NET ASSETS<br>86,441<br>FUNDS<br>14<br>Unrestricted funds<br>Restricted funds<br>TOTAL FUNDS|Restricted<br>funds<br>£<br>10,646<br>169,720<br>180,366<br>(22,736)<br>157,630<br>157,630<br>157,630|2024<br>Total<br>funds<br>£<br>16,298<br>261,819<br>278,117<br>(34,046)<br>244,071<br>244,071<br>244,071<br>86,441<br>157,630<br>244,071|2023<br>Total<br>funds<br>£<br>-<br>270,875<br>270,875<br>(12,815)<br>258,060<br>258,060<br>258,060<br>87,352<br>170,708<br>258,060|
|---|---|---|---|



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 16th December 2024 ............................................. and were signed on its behalf by: 

**............................................. Mr M Papadopoulos - Trustee** 

The notes form part of these financial statements 

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ATKINSON MORLEY'S HOSPITAL NEUROSCIENCES RESEARCH FOUNDATION (THE) 

## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 

## 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 the fund value. Funds with a value of less than £1,000 do not receive an allocation of support costs 

## 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: 

## 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 

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

## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 

## 2. ACCOUNTING POLICIES - continued 

## FUND ACCOUNTING 

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 

## 4. 

|Donations, legacies & similar<br>Grants<br>Research income<br>Grants received, included in the above, are as follows:<br>Other grants<br>INVESTMENT INCOME<br>Bank interest receivable|2024<br>£<br>22,566<br>14,400<br>24,690<br>61,656<br>2024<br>£<br>14,400<br>2024<br>£<br>5,421|2023<br>£<br>19,344<br>18,000<br>2,854<br>40,198<br>2023<br>£<br>18,000<br>2023<br>£<br>1,643|
|---|---|---|



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

## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 

## 5. CHARITABLE ACTIVITIES COSTS 

|CHARITABLE ACTIVITIES COSTS|CHARITABLE ACTIVITIES COSTS||
|---|---|---|
|Direct<br>Support<br>Costs (see<br>costs (see<br>note 6)<br>note 7)<br>£<br>£<br>Funding of research projects at St<br>George's Hospital, London<br>72,206<br>22,160<br>DIRECT COSTS OF CHARITABLE ACTIVITIES<br>2024<br>£<br>Equipment & Consumables<br>12,223<br>Conferences, courses & meetings<br>14,635<br>Subscriptions<br>888<br>Other<br>11,115<br>Research salaries and costs<br>33,345<br>72,206<br>SUPPORT COSTS<br>Governance<br>Management<br>Finance<br>costs<br>£<br>£<br>£<br>Funding of research projects at St George's<br>Hospital, London<br>13,499<br>2,883<br>5,778<br>NET INCOME/(EXPENDITURE)<br>Net income/(expenditure) is stated after charging/(crediting):||Totals<br>£<br>94,366<br>2023<br>£<br>18,812<br>26,548<br>674<br>2,752<br>25,369<br>74,155<br>Totals<br>£<br>22,160|
|<br>Auditors' remuneration|2024<br>2023<br>£<br>£<br>4,680<br>4,500||



## 6. DIRECT COSTS OF CHARITABLE ACTIVITIES 

## 7. SUPPORT COSTS 

## 8. NET INCOME/(EXPENDITURE) 

## Staff Costs 

The charity has no employees (2023: none) and therefore there have been no employee benefits paid in the current or prior year. 

## Honorariums 

During the year Mr Roger Evans (company secretary) was paid £2,500 (2023: £2,500) for his secretarial services to the charity. 

## 9. TRUSTEES' REMUNERATION AND BENEFITS 

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. 

## TRUSTEES' EXPENSES 

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. 

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

## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 

## 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES 

|Unrestricted<br>fund<br>£<br>INCOME AND ENDOWMENTS FROM<br>Donations and legacies<br>8,618<br>Charitable activities<br>Funding of research projects at St George's<br>Hospital, London<br>71<br>Investment income<br>1,643<br>Total<br>10,332<br>EXPENDITURE ON<br>Raising funds<br>216<br>Charitable activities<br>Funding of research projects at St George's<br>Hospital, London<br>12,422<br>Total<br>12,638<br>NET INCOME/(EXPENDITURE)<br>(2,306)<br>RECONCILIATION OF FUNDS<br>Total funds brought forward<br>89,658<br>TOTAL FUNDS CARRIED FORWARD<br>87,352|Restricted<br>funds<br>£<br>31,580<br>10,146<br>-<br>41,726<br>-<br>89,766<br>89,766<br>(48,040)<br>218,748<br>170,708|Total<br>funds<br>£<br>40,198<br>10,217<br>1,643<br>52,058<br>216<br>102,188<br>102,404<br>(50,346)<br>308,406<br>258,060|
|---|---|---|



## 11. PRIOR YEAR ADJUSTMENT 

In the prior year support costs were under accrued by £4,260 as £2,700 of audit fees (under governance costs) and £1,560 of accounting fees (under finance costs) were not accrued for. These have now been accrued for in the prior year, causing a £4,260 increase in charitable activities expenditure, a £4,260 increase in accruals and a decrease of £4,260 (£1,359 general, £2901 restricted)  in the funds brought forward in the current year. 

## 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 

|Other debtors<br>Prepayments|2024<br>£<br>5,652<br>10,646<br>16,298|2023<br>£<br>-<br>-<br>-|
|---|---|---|



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ATKINSON MORLEY'S HOSPITAL NEUROSCIENCES RESEARCH FOUNDATION (THE) 

## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 

## 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 

|Other creditors<br>Accruals and deferred income<br>MOVEMENT IN FUNDS<br>Unrestricted funds<br>General fund<br>Restricted funds<br>Harrison Legacy<br>The Henry Marsh Neurosurgery Fund<br>Clinical Neuro-Sciences Fund<br>Andy Nicolau Fund<br>Henry Marsh Project Fund<br>Fletcher Fellowship<br>Mark Edwards<br>Erlick Pereira<br>M Lucas<br>P Garrard<br>Mike Hart<br>F Morgante<br>Neuro-surgical<br>Markus<br>Neuroradiology<br>NAS 2000<br>SAH Research<br>TOTAL FUNDS|At 1.4.23<br>£<br>87,352<br>5,164<br>10,585<br>14,693<br>188<br>28,253<br>2,909<br>5,163<br>12,529<br>7,091<br>1,031<br>3,575<br>9,912<br>67,068<br>1,288<br>866<br>393<br>-<br>170,708<br>258,060|Net<br>movement<br>in funds<br>£<br>(911)<br>(419)<br>(6,335)<br>(1,296)<br>-<br>(2,716)<br>(2,909)<br>(619)<br>(124)<br>(576)<br>(84)<br>(882)<br>4,960<br>(8,144)<br>(135)<br>-<br>-<br>6,201<br>(13,078)<br>(13,989)|2024<br>£<br>32<br>34,014<br>34,046<br>Transfers<br>between<br>funds<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>(4,544)<br>-<br>-<br>-<br>-<br>4,544<br>-<br>-<br>-<br>-<br>-<br>-<br>-|2023<br>£<br>448<br>12,367<br>12,815<br>At<br>31.3.24<br>£<br>86,441<br>4,745<br>4,250<br>13,397<br>188<br>25,537<br>-<br>-<br>12,405<br>6,515<br>947<br>2,693<br>19,416<br>58,924<br>1,153<br>866<br>393<br>6,201<br>157,630<br>244,071|
|---|---|---|---|---|



## 14. MOVEMENT IN FUNDS 

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

## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 

## 14. 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|16,558|(17,469)|(911)|
|Restricted funds||||
|Harrison Legacy|1|(420)|(419)|
|The Henry Marsh Neurosurgery Fund|112|(6,447)|(6,335)|
|Clinical Neuro-Sciences Fund|-|(1,296)|(1,296)|
|Henry Marsh Project Fund|-|(2,716)|(2,716)|
|Fletcher Fellowship|-|(2,909)|(2,909)|
|Mark Edwards|-|(619)|(619)|
|Erlick Pereira|23,505|(23,629)|(124)|
|M Lucas|-|(576)|(576)|
|P Garrard|-|(84)|(84)|
|Mike Hart|-|(882)|(882)|
|F Morgante|28,991|(24,031)|4,960|
|Neuro-surgical|5,225|(13,369)|(8,144)|
|Markus|-|(135)|(135)|
|SAH Research|6,201|-|6,201|
||64,035|(77,113)|(13,078)|
|TOTAL FUNDS|80,593|(94,582)|(13,989)|



## Comparatives for movement in funds 

|Unrestricted funds<br>General fund<br>Restricted funds<br>Harrison Legacy<br>The Henry Marsh Neurosurgery Fund<br>Clinical Neuro-Sciences Fund<br>Andy Nicolau Fund<br>Henry Marsh Project Fund<br>Fletcher Fellowship<br>Mark Edwards<br>Erlick Pereira<br>M Lucas<br>P Garrard<br>Mike Hart<br>F Morgante<br>Neuro-surgical<br>Markus<br>Neuroradiology<br>NAS 2000<br>TOTAL FUNDS|At 1.4.22<br>£<br>89,658<br>5,720<br>24,804<br>16,338<br>188<br>31,286<br>3,223<br>4,845<br>21,527<br>7,893<br>1,141<br>9,505<br>5,132<br>84,430<br>1,850<br>866<br>-<br>218,748<br>308,406|Net<br>movement<br>in funds<br>£<br>(2,306)<br>(556)<br>(14,220)<br>(1,645)<br>-<br>(3,033)<br>(313)<br>317<br>(8,998)<br>(802)<br>(110)<br>(5,929)<br>4,780<br>(17,362)<br>(169)<br>-<br>-<br>(48,040)<br>(50,346)|Transfers<br>between<br>funds<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>(393)<br>-<br>393<br>-<br>-|At<br>31.3.23<br>£<br>87,352<br>5,164<br>10,584<br>14,693<br>188<br>28,253<br>2,910<br>5,162<br>12,529<br>7,091<br>1,031<br>3,576<br>9,912<br>67,068<br>1,288<br>866<br>393<br>170,708<br>258,060|
|---|---|---|---|---|



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ATKINSON MORLEY'S HOSPITAL NEUROSCIENCES RESEARCH FOUNDATION (THE) 

## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 

## 14. MOVEMENT IN FUNDS - continued 

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

|Unrestricted funds<br>General fund<br>Restricted funds<br>Harrison Legacy<br>The Henry Marsh Neurosurgery Fund<br>Clinical Neuro-Sciences Fund<br>Henry Marsh Project Fund<br>Fletcher Fellowship<br>Mark Edwards<br>Erlick Pereira<br>M Lucas<br>P Garrard<br>Mike Hart<br>F Morgante<br>Neuro-surgical<br>Markus<br>TOTAL FUNDS|Incoming<br>resources<br>£<br>10,332<br>(1)<br>122<br>-<br>-<br>1<br>1,589<br>27,719<br>-<br>-<br>1<br>8,454<br>3,841<br>-<br>41,726<br>52,058|Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(12,638)<br>(2,306)<br>(555)<br>(556)<br>(14,342)<br>(14,220)<br>(1,645)<br>(1,645)<br>(3,033)<br>(3,033)<br>(314)<br>(313)<br>(1,272)<br>317<br>(36,717)<br>(8,998)<br>(802)<br>(802)<br>(110)<br>(110)<br>(5,930)<br>(5,929)<br>(3,674)<br>4,780<br>(21,203)<br>(17,362)<br>(169)<br>(169)<br>(89,766)<br>(48,040)<br>(102,404)<br>(50,346)|
|---|---|---|



The purposes of the restricted funds are as follows: 

TABAA The Harrison Legacy is reserved for research, travel, or education in neuroscience. 

TAGAA 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. 

TAFAA 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. 

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

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

TAEAA The Andy Nicolaou Fund is for spinal interventional pain management research 

TADAA The Mark Edwards Fund is for research into Blood derived dendritic cells and brain metabolism in Tourette syndrome. The balance of this fund has been transferred to TAJAA The F Morgante Fund, as Mark Edwards is retiring the fund will be closed, and The F Morgante Fund continues to support the same field of research. 

TAPAA The Erlick Pereira Fund is to support research equipment and conference presentations of research 

TANAA The Marjorie Lucas Fund is for Head Injury Research 

TAOAA The P Garrad Fund is for Dementia Research 

TAQAA The Mike Hart Fund is for research into neuroimaging for functional neurosurgery 

TAJAA The F Morgante Fund is for Research in Parkinson's Disease and Movement Disorders 

TACAA The Neuro-surgical Fund is to support research into new forms of diagnosis and procedures in neurosurgery, travel and conference to present and advance that research. 

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ATKINSON MORLEY'S HOSPITAL NEUROSCIENCES RESEARCH FOUNDATION (THE) 

## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 

## 14. MOVEMENT IN FUNDS - continued 

TARAA The Markus Fund is for Dr Hugh Markus Neurology Fund 

TAMAA The Neuroradiology Fund is for Jeremy Madigan Neuroradiology Fund 

TATAA The NAS 2000 Fund is the Platon Razis fund for Neuranaesthesia 

TASAA The Annelies Freeriks Fund for SAH is to support research into Subarachnoid Hemorrhages 

## 15. RELATED PARTY DISCLOSURES 

There were no related party transactions for the year ended 31 March 2024 (2023: £nil). 

Several trustees however are employed in projects which benefit from funding from the charity, or have funds set up to support their research, as listed below: 

|Trustee<br>Marios Papadopoulos<br>Jeremy Madigan<br>Mark Edwards<br>Peter Garrard|Fund<br>Neurosurgery<br>Neuroradiology<br>Mark Edwards<br>P Garrard|
|---|---|



Details of the expenditure made on these funds during the year is given in Note 14 of these accounts. 

## 16. ULTIMATE CONTROLLING PARTY 

There is no ultimate controlling party. 

## 17. MEMBER'S GUARANTEES 

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

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