# **Annual report and financial statements** For the year ended 30 June 2024 




## **Contents** 

**02** Foreword from the Chair 

**19** Financial review 

**03** Legal and administrative detail 

**25** 

Plans for future periods 

**04** 

**26** 

Our vision, values and strategic aims 

Structure, governance and management 

**05** 

Our achievements 

**31** Public benefit statement 

**17** 

**33** 

Our international work Our publications 

Financial statements 



## **Foreword** 


On behalf of The Trustee Board of National AIDS Trust (NAT) I am delighted to share our Annual Report and Accounts for 2023/24, and proud to showcase some of the outstanding achievements of the NAT over the past year. With a small team of dedicated staff and volunteers, we have made significant progress in fulfilling our purpose to advocate for and defend the rights of all those living with or affected by HIV. 

As we go into the fifth year of our five-year strategic plan, this report demonstrates how we met our objectives in 2023/24 and sets out some of the remaining challenges. HIV associated stigma continues to negatively impact the lives of people living with the virus, due to the gaps between scientific advancements and societal attitudes together with adverse policy and legislation. This is where NAT steps in, advocating for meaningful system wide change. Our recent success in securing the Government’s commitment to reform discriminatory fertility laws, which previously prevented same-sex couples affected by HIV from starting a family, is an example of our impact. Because of NAT’s work, a new generation of families will have opportunities previously denied to so many. 

Reflecting on the year, I am particularly proud of the success of our advice service, which now in its second year has helped hundreds of people facing HIV related discrimination in many different settings. At the same time NAT has rolled out ‘HIV Confident’ a nationwide anti-stigma charter-mark programme, which has gained significant traction with prominent organisations, including GP practices, NHS trusts, and major corporations. NAT’s advocacy for the implementation of opt-out, routine HIV testing in Emergency departments in partnership with Terrence Higgins Trust and the Elton John AIDS Foundation, has enabled hundreds more people to be made aware of their HIV status and able to access HIV treatment and care which both ensures their own long-term health and well-being and prevents the onward transmission of HIV to others. 

We are excited that M·A·C and NAT will continue to work together to make a significant difference to the lives of people living with, affected by and at risk of HIV. 

This year saw the departure of our Chief Executive, Deborah Gold, who has led the charity with dedication and passion for ten outstanding years. Deborah’s tireless advocacy has driven many of our successes. I extend the thanks of the whole organisation for all that Deborah has contributed and we wish her all the best for the future. And I extend a huge thank you to my fellow trustees, the charity’s staff and volunteers, our supporters, donors, and funders. NAT’s outstanding achievements are testament to the dedication, contributions, hard work, support and time given by so many to further our work. 

As we enter the next financial year, we look forward to working with the new Government to ensure that HIV continues to be a priority on their agenda. There remains much to do together if we are to achieve the 2030 goal of eliminating new HIV infections and of ensuring HIV associated stigma and discrimination becomes things of the past." 

**Jane Anderson,** Chair of Trustees 

We, as always, delivered an impactful World AIDS Day campaign, emphasising many inspiring stories from people living with HIV who in their uniquely powerful way are striving to make the world a better place. And over 183,000 red ribbons were distributed to individuals, companies, schools, universities, and community groups, reminding people that HIV has not gone away and enabling them to mark this especially important day. 

This year, we celebrated 20 years of support from M·A·C Cosmetics, whose donations, through the VIVA GLAM Fund and other initiatives, amount to a fantastic total of £2,900,000. These contributions from M·A·C have been critically important in helping NAT achieve landmark successes in the fight against HIV. 

**2** 

**Foreword** 



## **Legal administrative detail** 

**Company registration** 2175938 **Secretary Stephanie McCarthy number Chief Executive Deborah Gold Charity registration** 297977 (departed 30 June 2024) **number Robert Currie** (joined 1 July 2024) The Green House **Principal office and registered office** 244-254 Cambridge Heath Road London **Principal bankers** CAF Bank Ltd E2 9DA Kings Hill West Malling **Charity websites** nat.org.uk Kent ME19 4TA worldaidsday.org loopedin.nat.org.uk **Investment Manager** Churches, Charities and Local Authorities **Trustees Professor Jane** (CCLA) Investment **Anderson CBE** (Chair) Management Ltd **Kathleen Britain** One Angel Lane (resigned 5 Sept 2023) London EC4R 3AB **Dr Alessandro Ceccarelli Auditors** Begbies Chartered **Gary Christie** Accountants **Stephen Crampton-** 9 Bonhill Street **Hayward** London EC2A 4DJ **James Dray** (resigned 5 Sept 2023) **Ceri Edwards Andrew Hochhauser KC Angelina Namiba Peter Roscrow David Sparks** (joined 8 Jan 2024) **Dr Ann Sullivan** The Trustees are the directors and members of the company. 

**3** 

**Annual Report 2023-24** 



The Board of Trustees has pleasure in submitting its Annual Report together with the audited financial statements for the Charity for the year ended 30 June 2024. The financial statements have been prepared in accordance with current statutory requirements, the memorandum and articles of association of the company, the Companies Act 2006, Charities Act 2011, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP (FRS 102) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The Trustees’ Report included the Directors’ Report. 

## Our **vision** and purpose 

Our vision is a world where HIV does not stand in the way of health, dignity and equality. 

Our purpose is to stand alongside and defend the rights of everyone living with, affected by or at risk of HIV. 

We carry out our purpose by using our expertise, research and advocacy to secure lasting change to the lives of people living with and at risk of HIV. And we won’t stop until everyone affected by HIV can live their fullest life possible. 

## Our **values** 

National AIDS Trust seeks to embody our values in everything we do – including how we approach our work, how we treat our staff, and how we work with others: 

**We are brave.** We speak out and are never afraid to challenge the status quo. 

**We are persistent.** We persevere until we create change, however long it takes. 

**We are collaborative.** We work to build relationships of mutual trust and respect because we know we can’t do this alone. 

Our strategic **aims** to 2025 are to: 

## **STOP** 

We will stop new HIV infections. 

## **CHAMPION** 

We will champion the needs of people whose voices and experiences are too often ignored. 

## **PROTECT** 

We will protect the rights of everyone living with and at risk of HIV. 

## **DRIVE** 

We will drive engagement and activism to change attitudes to HIV. 

**We are honest.** Our integrity and credibility are crucial, so we protect them by being independent, transparent and accountable. 

**We are thrifty.** We make every penny count to ensure that we can make the maximum impact. 

**Our vision, values and aims** 

**4** 



## 

**“ I was 29 when I went to A&E after coming off my bike with one of my fingers badly sliced during the fall. Had Chelsea and Westminster Hospital not been part of a routine HIV opt-out testing programme in emergency departments, I may still be unaware of my status. Routine opt-out testing in A&E departments saves lives; I was a late diagnosis - it saved mine and stopped me from passing on the virus to others”** 

**Oliver Brown,** Lieutenant Commander in the Royal Navy 




## **Opt-out testing rolled out in hospital A&Es across England** 

In the past year, significant progress has been made in ending new HIV transmissions. The implementation of opt-out testing across England has led to more people being tested, new infections being identified, and more individuals being connected to treatment and care. 

Following a successful pilot of opt-out testing in four hospital A&E sites, we collaborated with others in the sector to advocate for its nationwide implementation. Before World AIDS Day 2023, the Government confirmed the expansion of routine opt-out HIV testing to hospital emergency departments in all 32 high HIV prevalence areas in England. The nationwide rollout of opt-out testing represents a crucial moment. The decision to implement this policy signifies the achievement of a key recommendation of the HIV Commission. 

This milestone follows years of collaborative efforts by National AIDS Trust, and colleagues from the Terrence Higgins Trust and the Elton John AIDS Foundation. These efforts have built upon the success of an NHS England pilot, which resulted in the diagnosis of 569 people with HIV in the first 18 months across five areas of England. In Scotland, our joint policy work with the Terrence Higgins Trust and Waverley Care has introduced opt-out testing in three pilot projects for blood-borne viruses in A&E departments. This initiative is a critical component of Scotland’s HIV Transmission Elimination Delivery Plan 2023-26, which we have actively contributed to. 

## **We continued to fight to widen access to PrEP** 

After releasing our research report titled ‘Not PrEPared’, we continued to push for improved accessibility of the HIV prevention drug, PrEP. We explored options for digital and online provision, as well as delivery outside of sexual health services. As part of the Government’s PrEP working group, we collaborated across sectors to propose recommendations for Government action. This directly resulted in the publication of the PrEP Roadmap, a plan aimed at enhancing access, uptake, and use of the drug among all population groups that could benefit from it. 

## **We secured manifesto commitments for HIV and a refreshed HIV Action Plan** 

After releasing our research report titled ‘Not PrEPared’, we continued to push for improved accessibility of the HIV prevention drug, PrEP. We explored options for digital and online provision, as well as delivery outside of sexual health services. As part of the Government’s PrEP working group, we collaborated across sectors to propose recommendations for Government action. This directly resulted in the publication of the PrEP Roadmap, a plan aimed at enhancing access, uptake, and use of the drug among all population groups that could benefit from it. 

The General Election allowed us to collaborate across the sector to develop a unified set of recommendations for the next government. Our joint manifesto, ‘One Parliament Left’, emphasised the importance of a new HIV Action Plan and action on crucial aspects of the HIV response – including uplift to funding for sexual health services, a national strategy on sexual health, widening access to PrEP, and a strategy for re-engaging people lost to care. We were pleased to see political parties include commitments on HIV in their manifestos. Moving forward, we aim to build on this progress to ensure that the new Government takes the necessary actions to achieve the 2030 targets of ending all new HIV transmissions in the UK. 

As part of this effort, we are actively involved with the Government and officials through the HIV Action Plan Implementation Steering Group, and participate in a range of task and finish groups, such as on retention and re-engagement in care, and PrEP. Additionally, we co-chair the Community Advisory Group for the HIV Action Plan. 

**6** 

**Stop** 



# **Champion** 

**“ As a Black woman, I have experienced how difficult it is to make our voices heard. It is vital to let communities lead to address systemic inequalities in all aspects of life. That is how we will make sure that everyone’s right to health and social services is realised.”** 

**Winnie Byanyima,** UNAIDS’ Executive Director 


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**Annual Report 2023-24** 




## **We researched the experience of meaningful involvement in commissioning HIV services for Black communities** 

Through our collaborative project, Unheard Voices, National AIDS Trust has influenced future approaches to addressing health inequalities faced by Black individuals living with, and at risk of, HIV. The first outcome of this project is a report on London’s sexual health commissioning practices and how local authority commissioners engage service users in service design, implementation, and procurement processes. The recommendations were developed in workshops with individuals from Black-led voluntary sector organisations and Black HIV activists, to incorporate practical suggestions to overcome barriers to the meaningful involvement of Black communities. 

The findings were presented as a poster abstract for the BHIVA (British HIV Association) Spring Conference, and the report and project have been featured on BBC Radio, Health Service Journal, and at Black Pride. Even before the official launch, the report received positive feedback and initiated discussions with London commissioners and other organisations in the HIV sector on the recommendations and how to implement change and make sure it reaches key stakeholders and decision-makers. 

## **We stood against migration policy that would impact the health and wellbeing of people living with HIV** 

During this year, the Government proposed legislation (the Illegal Migration Bill) that would fundamentally change the processing of asylum seekers by insisting that processing is carried out in third-party countries, such as Rwanda. We had serious concerns about the impact that this would have on people seeking asylum who are living with HIV, including their ability to access care and treatment, as well as the impact on their safety, wellbeing and mental health. 

In response to the Illegal Migration Bill, we submitted a response to the Joint Committee on Human Rights’ consultation and provided a briefing with suggested amendments for MPs, focusing on the bill’s impact on the human rights of migrants living with HIV. When the Rwanda Bill was introduced, we communicated the issues to the backbenchers we met with, explaining the connections between migration policy and negative health outcomes. Our work on migration also involved extensive engagement with the Home Office through formal policy submissions and meetings with civil servants, including responding to a consultation on asylum support, and making recommendations on how to improve the policy for Adults at Risk. 

For World AIDS Day 2023, we organised an event to raise awareness of this work and were delighted that Winnie Byanyima, Executive Director of UNAIDS, accepted our invitation to speak at this event. This was a high-profile intervention and led to increased awareness of the work. We look forward to continuing to work with UNAIDS and strengthening our relationships with international partners in the future. 

**8** 

**Champion** 



## **We explored how Integrated Care Boards (ICBs) can play a positive role in supporting a good quality of life for everyone and tackle inequalities** 

The transfer of HIV commissioning to NHS Integrated Care Boards could bring positive changes to ensure that systems are more responsive to the needs of local populations living with HIV. However, there is also a risk that HIV services might not receive prioritisation, especially in low-prevalence areas, and that there could be variation in care across England. Through our work on HIV Outcomes UK - a coalition of HIV experts working to bring about policy, practice, and evidence changes to improve the health-related quality of life for people living with HIV in the UK – we have made it a top priority to ensure HIV services are prioritised in ICBs and for there to be equitable services across the country. We are pleased that key NHS stakeholders have supported the recommendations in our report on ICBs’ role in commissioning HIV and that engagement has resulted in closer partnerships with several NHS ICBs, with some reviewing their local HIV services and commissioning initiatives in line with our recommendations. 

## **We advocated for everyone living with HIV to have access to the right support and benefits** 

Financial vulnerability is a significant issue for people living with HIV, having a negative impact on their quality of life. To raise awareness of this and to advocate for change, we have worked to influence the Personal Independence Payment (PIP) with MPs and civil servants so that people living with HIV can access sufficient support. We raised this issue politically across Parliament to share our concerns and advocate for change, as well as responding to a Green Paper on PIP reform which we did in collaboration with people living with HIV who had lived experience of applying for PIP. 

To enhance access to welfare and address financial inequality, National AIDS Trust acknowledges the necessity to put an end to hostile environment policies such as No Recourse to Public Funds and to reduce restrictions on the right to work for people seeking asylum. Our efforts in this area have involved garnering support from backbenchers, members of the Home Affairs select committees, and maintaining engagement with the Shadow Minister for immigration. We have also established partnerships with various migration charities to explore opportunities to support their work on No Recourse to Public Funds while strengthening our messaging. 


**21.7%** 

**of people living with HIV were claiming state benefits.** 

**Annual Report 2023-24** 

**9** 



From right: **Denis Onyungo** , Africa Advocacy Foundation, **Kevin Fenton** , NHS London, **Winnie Byanyima** , UNAIDS, **Reverend Jide Macauley Oluwakemi Agunbiade** , National AIDS Trust 


## **51.4%** 

**of people living with HIV stated that they did not have enough money to meet their basic needs.** 

**10** 

**Champion** 



Protect


**“ Having the support of National AIDS Trust’s discrimination service throughout the issues with my employer has been invaluable to say the least. I have received the most kind, useful and genuine advice: both legal and emotional. The team have shown such tenacity in finding ways to best guide me that it has been a source of motivation for me. It was the first time that I have felt respected and validated in terms of discrimination. Their support has made all the difference to my life and this is no exaggeration.”** 

Quote from service user 

## **We challenged discrimination in workplaces, access to services, and stood up for people’s rights through our case work service** 

Our Discrimination Advice service has supported over 100 individuals this year with cases of HIV discrimination. We have provided direct advocacy for people living with HIV to challenge discriminatory treatment from organisations, acquired legal advice on behalf of service users in a wide range of situations, and offered tailored emotional support and referrals to specialist services when needed. 

We have provided support for individuals facing various situations, such as discrimination in employment, healthcare, the unauthorised sharing of HIV status, and refusal of private companies to provide services, such as cosmetic procedures. Our advocacy has led to a positive result in almost half of our cases, with people experiencing discrimination receiving apologies and acknowledgement, as well as securing wider policy changes that will stop discrimination happening again in the future. One example of success is securing a £20,000 settlement for an individual who faced discrimination in employment and we successfully worked with an NHS Trust to address an institutional problem of HIV discrimination. 

## **We influenced national policy and regulatory bodies to ensure the right level of protection for people living with HIV** 

We have been actively working this year to bring the most common discrimination issues to national policy and regulatory bodies. We have had successful conversations that have resulted in substantial positive changes to policy for people living with HIV. 

We have partnered with the Information Commissioner’s Office, the UK data protection regulator, on a project addressing the harm caused by breaches of HIV status. This has involved a comprehensive review of how the Independent Commissioner’s Office (ICO) handles complaints in a sensitive and trauma-informed manner, leading to a change in the assessment of the severity of breaches. Additionally, we have provided training on HIV data breaches to ICO staff, and we will continue to collaborate with them on this issue. 

We have also stayed informed about significant developments in other UK nations. We have contributed to the Welsh Government’s consultation on regulations for tattooing and piercing to ensure that they do not discriminate against people living with HIV. Furthermore, we have initiated campaigning efforts to advocate for updates to Northern Ireland’s disability discrimination laws to offer better protection for people living with HIV. 

**12** 

**Protect** 




## **We secured commitment to ending discriminatory fertility legislation** 

After a five-year campaign, which involved coordinating expert scientific and legal evidence alongside public campaigning, we have finally received a commitment from the Department of Health and Social Care in October. They have agreed to change the law to allow all people living with HIV, who have an undetectable viral load, to donate sperm or eggs to someone they know. 

This change will overturn previously discriminatory laws that allowed this for opposite-sex couples but not same-sex couples. The Government tabled secondary legislation to amend the Human Fertilisation and Embryology Act 1990 in May to make this change. We anticipate this change will come into effect this autumn, allowing thousands of people living with HIV to access fertility treatment and have the families that they have always dreamed of. 

## **We worked to highlight inequalities in the HIV response and set out how to ensure equitable services and access to care for all** 

The UK’s HIV response is facing growing inequalities, resulting in late diagnoses, disengagement from HIV care for thousands of people, and worse health outcomes. Through collaborations with communities and coalitions such as HIV Outcomes UK and Unheard Voices, we have been advocating to end these inequalities. One of our successful initiatives was a parliamentary event in partnership with the All-Party Parliamentary Group on HIV and Sexual Health, which focused on addressing inequalities and promoting living well with HIV. The event brought together community leaders and key decision-makers in the HIV response, including the Government’s Chief Advisor on HIV, the Shadow Public Health Minister, and the UNAIDS Deputy Executive Director. Additionally, we have produced reports examining HIV inequalities and responded to various Government and parliamentary consultations to outline strategies for ensuring equitable services and access to care for all by UK governments and health boards. 

**Annual Report 2023-24** 

**13** 



**“ As the eldest of four, from a close-knit family, children have always been important to me.** 

**After struggling, but then coming to terms with my HIV diagnosis, I thought fertility treatment might be an option for me and my then-partner. The realisation that I would not be allowed - set me ten steps back, and really affected my relationship. I felt so sad. I want a house full of kids, a home that reminds me of the one I had. National AIDS Trust educated me on the specifics of the legislation: that the ban only applied to LGBT+ people with HIV. So I got angry! I was determined to support their campaign in any way I could.** 

**When a friend texted me that the legislation was going to be changed, I couldn’t believe it. It just literally gave me my dreams back – a husband, kids, the whole ‘white picket fence’ life. Knowing I couldn’t have children had stopped me forming relationships, and now that’s all changed. It’s made me so happy.** 

**So, the pressure is on – I need to deliver on the promise of those kids running around.”** 

**Alan,** Campaign supporter 

**14** 



Drive

## **We will deliver our transformational new website** 

We are in the final stages of developing our brandnew National AIDS Trust website. This website will be a significant improvement on the current one, clearly defining who we are, what we do and providing simple ways for visitors to support us. The website is fully integrated with our supporter engagement platform, Impact Stack, making it extremely easy to donate, take part in supporter actions such as petitions and handraisers, and sign up for our newsletter. It will provide a vastly improved user experience, offering more intuitive navigation, enhanced visuals, optimised content, and a variety of features designed to engage users and increase shareability. The website will also highlight the stories of people living with HIV, providing a platform for the voices of our diverse community to be heard. We will have better analytics tools to assess the website’s success, allowing us to make improvements and adapt the website to our changing needs. 

## **We helped drive engagement and change attitudes towards HIV through the development of the HIV Confident charter mark** 

In collaboration with Aidsmap and Positively UK, and with funding from Fast-Track Cities, London, we created a framework for a charter mark to help organisations combat HIV-related stigma. We worked with the charter mark advisory board to develop the framework and brand, and we launched the website on World AIDS Day at City Hall. London Mayor Sadiq Khan signed up the City Hall as a Founding Member. We started testing the charter mark with founding members in the NHS and developed two eLearning modules and a policy review toolkit. 

## **We are enhancing the way we communicate about HIV** 

With funding from Trust for London, we have made significant progress on a project aimed at equipping us with the tools to effectively communicate about HIV and enhance engagement with our work. This project is designed to address specific communications challenges we face and provide the sector with new ways to frame messaging for maximum impact. 

## **We continued to be featured in the media** 

Throughout the year, we achieved significant national, regional, and international media coverage related to our work, providing new avenues for audiences to learn about our initiatives. We also effectively challenged stigmatising and inaccurate media stories, leading to the modification of several headlines in outlets such as the BBC, The Mirror, and The Sun. 

## **We’ve reached more people through social media** 

Our social media channels continue to grow, allowing us to reach more people. We’ve diversified our content to give audience more reasons to engage with us and share their content. This has included creating more video content this year than in any other previous year, helping us to grow our audiences on TikTok and Instagram. 

**16** 

**Drive** 



## **Our international work** 

## **We helped drive action on HIV and hepatitis internationally by collecting evidence on progress and barriers** 

On behalf of the European Centre for Disease Prevention and Control (ECDC), we collected data on compliance of countries in Europe and Central Asia with the Dublin Declaration on HIV, and in Europe on progress in combatting hepatitis. We used the data collected in the year 2022-2023 to author a number of reports on a range of themes, published by ECDC. 

This data was collected from 2022 to 2023 and used to create several reports on various themes, published by the ECDC. The reports covered topics such as the continuum of HIV care, PrEP, testing, sex workers, the impact of COVID-19 on HIV programmes and services, the hepatitis continuum of care, and hepatitis prevention. This work was essential for understanding the current status and development of different countries in this area, in order to make significant progress. Our work on this contract ended on 31 January 2024. 

In September 2023, a survey measuring stigma in various settings among people living with HIV was published by the ECDC, outside of the Dublin Declaration monitoring contract. NAT collated, analysed, and presented the data in the resulting report on behalf of the ECDC. This survey was the first of its kind conducted at a European level, with responses from people living with HIV in 54 countries. Data from this survey emphasises the need to ensure that education, awareness, and interventions around stigma meet the needs of all people living with HIV, including genders other than male or female, sexual orientations other than heterosexual, and key populations such as ethnic minorities, prisoners, people who inject drugs, and people who engage in sex work. 

## **Our publications** 

## **Unheard Voices** 

A report into understanding the landscape of London HIV commissioning and community involvement of Black African and Caribbean communities. 

**Impact Report 2023** Highlights of our mission, impact and fundraising 2023. 

**Unlocking synergies between HIV response and Core20PLUS5** Integrated Care Systems (ICSs) will play a key role in determining whether we can reduce health inequalities, and HIV transmissions, by 2030. This briefing highlights the synergies between NHS England’s Core20PLUS5 approach and the HIV response at a national and system level. 

## **Northern Ireland equality law reform and HIV** 

Anti-discrimination laws are weaker in Northern Ireland than in the rest of the UK and fail to protect people with and at risk of acquiring HIV. The restoration of the Executive and Assembly offers an opportunity to make the right decisions and legislate to strengthen Northern Ireland’s equality laws. This is imperative so that people living with, or at risk of acquiring HIV, in Northern Ireland can have the same rights and protections as everyone across the UK. 

**All reports can be found on our website nat.org.uk/publications** 


**Annual Report 2023-24** 

**17** 



**Unheard Voices** Report 

**Impact Report** 2023 

**Unlocking synergies between HIV response and Core20PLUS5** Briefing paper 

**18** 

**Champion** 



**Financial Review** The financial results are set out from page 33 onwards and are summarised here. 

## **£1,390,688** 

**The charity’s total income in 2023-24. This was an increase of £254,592 from the previous year.** 

The charity’s total income in 2023-24 was £1,390,688. This was an increase of £254,592 from the previous year (2022-23 £1,136,096). 

Our total expenditure in 2023-24 was £1,370,396 (2022-23: £1,133,594). The increase in costs was mostly due to the creation of a new directorate to split the policy and communications responsibilities; development of a new website which will improve our storytelling and enhance our fundraising and donation capabilities and recruitment for a new chief executive. 

National AIDS Trust ended the year with a surplus of income over expenditure of £18,700. 

Details of movements in fixed assets are shown in note 15. National AIDS Trust holds one financial investment in the form of an endowment in the name of Gary Philipp. 

The endowment is shown on the balance sheet as a fixed asset investment and was invested into CCLA/ COIF units during the year. The endowment cannot be expended on general charitable activities, but income and gains are credited to a restricted fund for activities related to tackling stigma. 

The charity was fortunate to be named in the wills of several supporters during the year and an estimated £568,070 of legacies have been recognised in these accounts, most of which had yet to be received at the balance sheet date. The timing of the receipt of these legacies is not within the control of the charity, and we are not usually the beneficiary of such a large amount each year. 

**Annual Report 2023-24** 

**19** 



## **Investment powers** 

The charity’s investment powers are governed by clause 3(k) of the Memorandum of Association which permits the investment of monies not immediately required for its purposes in shares, stocks, funds, securities or other investments as may be thought fit. 

National AIDS Trust has previously only held cash to meet its medium-term needs therefore generally holding financial reserves on short-term deposit only. Our principal bank account continues to be held with CAF Bank (a whollyowned subsidiary of the Charities Aid Foundation). We closely managed the allocation of funds across different banking providers during the year to minimise risk exposure to the charity and ensure easy access to funds in an uncertain financial environment. We maintain a restricted endowment, donated from the estate of Gary Philipp, to support our ongoing work. The endowment is invested with CCLA in its Charities Ethical Investment Fund. 

## **Fundraising** 

We had a strong year for income generation despite operating in a highly competitive and challenging fundraising environment. 

Our World AIDS Day campaign once again generated great numbers of engagement. In 2023, we saw over 1,000 communities in schools, workplaces and organisations across the country fundraise and wear the ribbon in solidarity of people living with HIV. We sent out a total of 183,597 red ribbons to mark World AIDS Day on 1 December. We were particularly thrilled to receive for the first time the support of staff from Diageo who raised an incredible £20,000 from their fundraising efforts for this important day in our calendar. One of our newest corporate supporters, Amazon, provided a large number of volunteers to help prepare our World AIDS Day fundraising packs which was a significant contribution to reducing the impact on our small team’s resource. 

We were also delighted to work with a new corporate partner, Everpress, on an exclusive World AIDS Day t-shirt which raised £3,000. We look forward to working with them again on a new promotion for 2024. 

During the year we celebrated 20 years of support from M·A·C Cosmetics. Over the two decades we have received £2,900,000 from M·A·C’s VIVA GLAM Fund which has gone a long way in helping us achieve our landmark successes. We look forward to continuing this trailblazing partnership which will continue to make a huge impact on the lives of people affected by HIV. 

Also, this year we ran our first ever livestreaming campaign: Game Over for HIV which raised over £1,200 over the year. 

The Board is hugely appreciative of the support from all our funders during 2023-24, including our regular givers, one-off donors, challenge event participants, gamers, schools, universities, workplace staff, community groups and volunteers. 

## **1,000+** 

**Communities, schools, and organisations fundraised and wore the ribbon.** 

## **183,597** 

**Red ribbons were sent out to mark World AIDS Day on 1 December.** 

## **£20K** 

**Was raised by Diageo staff for this important day.** 

## **£3K** 

**Was raised through an exclusive World AIDS Day t-shirt with new partner Everpress.** 

## **£2.9M** 

**From M·A·C Cosmetics’ VIVA GLAM Fund over 20 years.** 

## **£1,200** 

**Was raised this year through our first live streaming campaign, Game Over for HIV.** 

**20** 

**Financial Review** 



## **We would also like to thank the following for their generous support:** 

## **Trusts and Foundations and statutory** 

The Baring Foundation City Bridge Cornerstone Fund City Bridge Foundation European Centre for Disease Prevention and Control Fast Track Cities IAS Society Martin Bowley Charitable Trust Mill Charitable Trust National Lottery Community Fund Trust for London 

## **Companies and corporate foundations** 

Amazon Everpress Gilead Sciences Ltd Gucci M·A·C VIVA GLAM Fund Merck, Sharpe and Dohme Ltd ViiV Healthcare UK Ltd 

**Special thanks also go to our 100 Club supporters:** 

Ricardo Alonso Cortina Yusef Azad Philippe Genre Martin Green Matthew Hamlyn Andrew Hochhauser Renaud Humbert David Isaac Daniel Lynch Graham Marchant Sheena McCormack Karon Monaghan Róisín Moriarty Sallie Nicholas, Dame Denise Platt DBE Paul Quain Peter Roscrow Nigel Simon David Sparks Ken Watters Robin Wilkinson Lesford Williams Lee Winter-Dean 

**All these funders and supporters have enabled the charity to continue to deliver our vital work** . 

**21** 

**Annual Report 2023-24** 



## **Types of fundraising activities undertaken** 

The Trust’s fundraising activity is governed by Section 13 of the Charities (Protection and Social Investment) Act 2016, and this series of statements set out disclosures in compliance with the Act’s requirements. National AIDS Trust does not use professional third-party fundraisers. However, income is raised voluntarily by a range of supporters on our behalf. This includes individuals taking part in sponsored activities or organisations community fundraising, as well as staff groups in companies. On occasion corporations raise income for us from the public by either selling products and donating to us a portion of the income, or by including a donation option to us in online sales check outs. National AIDS Trust staff and volunteers fundraise in private events organised by us, and by bucket collections in areas where we have a licence, including on-street. No door-to-door fundraising takes place, and neither do direct approaches to members of the public on-street to set up regular donations. 

The Trust is a registered member of the Fundraising Regulator. We ensure that all our activities comply with the Fundraising Regulator’s Code of Practice. Staff in our Fundraising Team maintain knowledge of the Code and ensure that when briefing volunteers who fundraise on our behalf, they draw their attention to relevant parts of the code – this includes information in our published fundraising packs and event briefings (for example rules about how to collect money in a non-confrontational way, away from cash machines and without shaking the bucket or otherwise acting aggressively). We have many individuals and organisations who voluntarily undertake community fundraising activities on our behalf (to whom we are very grateful). In addition to sending guidance in the form of the Fundraising pack, members of the team maintain contact with them to answer questions, provide support and ensure that we are aware of methods of fundraising. We have no contracts with external fundraisers. 

There have been no failures to comply with the Funding Regulator’s code. 

We received one complaint in the last year which related to our branding being displayed on an outer envelope of a cash appeal which the complainant felt disclosed his HIV status. We have considered this issue and will no longer display our branding on outer envelopes. 

In addition to the changes made to the system above, further action taken by the Trust to protect vulnerable people and others from unreasonable intrusion, pressure or unreasonable persistence include that we do not undertake high risk fundraising activities. 

This includes not using commercial third-party fundraisers; not cold-calling the public; not undertaking door to door fundraising or on-street requests for personal details. All staff are inducted into the Safeguarding Children and Vulnerable Adults Policy. 

## **Reserves** 

National AIDS Trust reviews its reserves policy annually to ensure compliance with best practice. The policy is designed to ensure that the organisation has both running costs and wind down costs. Our reserves policy is that the organisation should hold sufficient free reserves within a range in which the lowest amount is the figure which equates to wind down costs plus two months’ running costs, and the higher level is six months of total running costs. For the year ended 2023-24, this range was £542,000 - £732,000. 

Each quarter, the Finance & General Purposes (F&GP) Committee of the Board of Trustees reviews the charity’s position in the context of the reserves policy and examines the forecast cash flow for the following twelve months, including capital expenditure. Conclusions from these reviews are reported to the Board. 

As at 30 June 2024 the charity’s total reserves stood at £926,867. 

Of the total reserves, £30,951 related to restricted reserves carried forward, the majority of which is to be expended in 2024-25. A further £265,899 related to the restricted endowment investment. Total unrestricted funds stood at £630,017, of which £20,674 is invested in the Charity’s office equipment and is not available for general use. At the balance sheet date, the Charity’s free reserves stood at £609,343. 

## **Endowment plans** 

We are so grateful to have received a donation from the U.S. estate of Gary Philipp to set up a restricted endowment. The Gary Philipp endowment is structured to allow us to spend income raised on work which contributes to combatting stigma and discrimination experienced by people living with, at risk of or affected by HIV. Trustees and senior leadership have established a framework for investment that allows for medium risk based on planned long-term investment, in a fund run by CCLA that is consistent with our organisational values. In the financial year 2023-24 we have allowed the fund to appreciate without withdrawing from the profit, to allow for greater withdrawals in future years. The trustees as a body hold the endowment on behalf of the Charity as required by company law. 

**22** 

**Financial Review** 



**For the year ended 2023-24, this range was:** 

## **£542K - £732K** 

**As at 30 June 2024 the charity’s total reserves stood at: £926,867** 

**Of the total restricted reserves:** 

# **£30,951** 

**Annual Report 2023-24** 



## **Investment Policy** 

The charity holds investments as part of the Gary Philipp Endowment. The investment objective of the charity is to achieve both income and long-term capital appreciation due the Gary Philip Endowment deed requiring a total investment return basis of accounting once the capital is invested. 

To provide the charity with sufficient investment expertise CCLA has been appointed as the charity’s investment manager. The portfolio is invested in the CCLA Charities Ethical Investment Fund which is a common investment fund allowing greater investment diversification than would be possible were the portfolio to be held directly. The common investment fund also used ESG principle to invest in companies willing to engage in ethical and social responsible practices. 

## **Principal risks and uncertainties** 

The Senior Management Team (SMT) present a detailed breakdown of organisational risks to the Board of Trustees on an annual basis. SMT review mitigation and assurance activity on a monthly basis, and report on this quarterly to the Finance & General Purposes sub-committee of the Board. Day-to-day risks are mitigated by the policies and procedures established by the SMT. 

The principal risks as identified by the Board are highlighted overleaf. These are those risks assessed as remaining high following mitigation and assurance. 

As the investment was only made in the final month of the financial year, it is too early to assess whether it is performing in line with the investment objectives. 

## **Risk description** 

**Difficult economic environment significantly impacts financial security of organisation.** 

**Reserves and cash position insufficient to meet commitments.** 

## **Mitigation and assurance** 

**Monthly SMT review of income and expenditure; Fundraising Strategy and increased capacity in Fundraising Team; Finance and Fundraising reports F&GP.** 

**Reserves policy reviewed annually by F&GP; cashflow report quarterly to F&GP; medium term strategy to build reserves, review of operating costs to identify cost-efficiencies.** 

**24** 

**Financial Review** 



## **Plans for future periods** 

- The UK Government needs a new HIV Action Plan from 2025. We will be collaborating with Terrence Higgins Trust and Elton John AIDS Foundation to inform and influence the Government with the right recommendations and steps to end new HIV transmissions by 2030. 

- Our work on HIV Outcomes includes investigating the current state of the HIV third sector through focus groups and interviews. We aim to gather evidence around the services and programmes provided by these organisations, along with information about funding streams to ensure that the third sector operates efficiently and effectively to meet the evolving needs of people living with HIV. To ensure responsiveness to the needs of citizens living with HIV, HIV Outcomes will develop guidance resources and organise a conference connecting NHS leaders in light of the planned devolution of HIV commissioning to Integrated Care Boards. Additionally, we will publish reports with recommendations on how Wales and Scotland can tackle inequalities and support living well with HIV. 

- We will utilise our casework evidence and wider data to demonstrate the continued experience of discrimination faced by people living with HIV and to challenge policy and guidance where change is needed. A report will be published on the harms of the criminalisation of reckless transmission of HIV, and we will commence an influencing strategy to ensure that laws around criminalisation remain within the public health interest, contribute to eliminating HIV transmission by 2030, and do not add to stigma and discrimination of people living with HIV, potentially leading to a change or removal of the offence of reckless transmission of HIV in the statute book. 

- We will collaborate with Positively UK to better understand the unmet needs, quality of life, and views of people living with HIV as highlighted in the research Positive Voices published this year. A report will be created to highlight health inequalities experienced by people living with HIV, leading to further research addressing gaps in knowledge and contributing to the existing evidence base. 

- We will advocate for widening access and availability of PrEP, particularly in relation to addressing the inequalities that are seen. 

- We plan to work with colleagues in the sector to execute a campaign ensuring free infant formula provision across England, Wales, and Scotland, including updating our briefing, meeting with NHS and Parliamentary stakeholders, and organising a Parliamentary event. 

- The Unheard Voices project will conclude with the launch and publication of our briefing based on the experiences of primary care of Black communities living with HIV. Subsequently, we will present the briefing and commissioning report to decisionmaking stakeholders, engaging with them on the recommendations co-produced with Black people living with HIV. 

- We will finalise our briefing on PIP reform based on recommendations developed with people living with HIV who have tried to access PIP. We will use this to influence the new Government’s approach and respond to the Government’s White Paper. 

- Finally, we will continue to advocate for our recommendations to address the health and socioeconomic needs of migrants and respond to the Government’s incoming Asylum Bill if needed, covering areas such as detention, no recourse to public funds, restrictions on the right to work, migrant care workers, access to health information, and the charging system. 

## **Structure, governance and management** 

National AIDS Trust was incorporated on 9 October 1987 as a company limited by guarantee and not having a share capital (registered in England and Wales, number 2175938). The governing document is the Memorandum and Articles of Association. Clause 6 of the Memorandum restricts the liability of each member, as defined by paragraph 3 of the Articles of Association, to one pound in the event of the Trust being wound up. The Trust cannot pay dividends and must utilise all its funds to further its stated charitable objectives. As of 30 June 2024, there were ten members. 

The Trust is registered at the Charity Commission (registered charity number 297977) and the registered office is The Green House, 244-254 Cambridge Heath Road, London E2 9DA. 

- Over the next year, we will roll out HIV Confident, the new anti-stigma charter mark project delivered in partnership with Fast Track Cities London, Positively UK, and NAM Aidsmap. 

**25** 

**Annual Report 2023-24** 



## **Board of Trustees** 

**The Board of Trustees, the governing body of National AIDS Trust, is responsible for the overall management of the charity and for ensuring that agreed priorities are consistently implemented by the staff. They set the strategic direction and objectives of the organisation, agree the budget and work plan on an annual basis, to ensure that the charity is maximising its public benefit and review progress against these on a quarterly basis. Responsibilities of the Board of Trustees, its committees and of senior staff are laid out in the Scheme of Delegation.** 

No beneficial conflicts of interest were declared during the year. Professor Anderson does ad hoc work including consultancy for pharmaceutical companies who may be funding National AIDS Trust and acts as an independent advisor for the Gilead Sciences grants programmes. When National AIDS Trust has applied for funding from Gilead Sciences, Professor Anderson excuses herself from all discussions at the Committee. Professor Anderson is the Co-Chair of Fast Track Cities London (FTCL) and (until May 2023) Co-chair of the European HIV Outcomes Partnership. Dr. Ann Sullivan is the Honorary Secretary of European AIDS Clinical Society, sits on the EUROTEST Board, and on a consultancy, basis has worked/works with CHIP, Copenhagen, and the ECDC. 

Andrew Hochhauser is the Chair of the Reviewing Committee for the Export of Works of Art (RCEWA). 

National AIDS Trust maintains a Register of Trustees Interests in which all potential conflicts are identified. National AIDS Trust appoints Trustees on the basis of creating a skills-based Board who can contribute to the effective governance of the charity and support staff in achieving its objectives. 

To maintain and develop the skills-mix of our Board and ensure appropriate succession-planning, we regularly conduct an audit of Trustees’ skills and experiences. We have established a sub-committee of the Board of Trustees - the Recruitment and Succession Planning Committee (R&SP) – which utilises the findings of the audit to identify current and future gaps and makes recommendations to the Board on Trustee recruitment. 

The Board of Trustees is able to add Independent Members to its sub-committees where helpful. Judy Hague is currently an independent member of the Finance and General Purposes Committee. 

National AIDS Trust has Trustees who are based in England, Scotland, Wales and Northern Ireland and this provides an important mechanism for ensuring that a UK-wide focus is maintained. 

A comprehensive induction programme is in place to ensure that new Trustees are familiar with the charity’s objectives, strategic aims and agreed workplan and fully understand their role and responsibilities as a Trustee. Trustees are provided with a Governance Handbook which includes details on roles and responsibilities and all relevant organisational policies. 

The Board has three sub-committees. The Finance and General Purposes Committee has delegated responsibility from the Board to monitor the charity’s resources (both financial and human) and to make recommendations for action, where appropriate. The role of the Recruitment and Succession Planning Committee is to ensure that, collectively, National AIDS Trust’s Trustees have all the necessary knowledge and skills to discharge their overall responsibilities as a Board. The Fundraising and Engagement Committee leads on developing events for fundraising. 

The Trustees recognise that one of their key responsibilities is to monitor and manage risks to the organisation and to ensure that processes are in place to identify risks at an early stage and to ensure necessary action is taken to manage these. F&GP plays a key role in identifying areas of potential risk and highlighting these to the Board, together with clear recommendations for action. 

Following good practice guidance from the Charity Commission, the Board has reviewed all appointments of Trustees who have served on the Board for longer than nine years. Where this is the case, either members have unique expertise that cannot be replaced, or the Trustee in question will stand down at the end of their current term of office. 

**26** 

**Structure, governance and management** 



## **Board of Trustees** 

The Board of Trustees, the governing body of National AIDS Trust, is responsible for the overall management of the charity and for ensuring that agreed priorities are consistently implemented by the staff. As of 30 June 2024, our Board of Trustees comprised: 

**Professor Jane Anderson CBE** (Chair)[**/***] **Dr Alessandro Ceccarelli** * **Gary Christie**[**] **Ceri Edwards**[*/ ***] 

**Stephen Crampton-Hayward**[*] **Andrew Hochhauser KC**[*/***] **Angelina Namiba**[**] 

**Peter Roscrow David Sparks**[*] **Dr Ann Sullivan**[*] 

* Member of the Finance and General Purposes Committee 

## **National AIDS Trust Ambassadors** 

National AIDS Trust has a small group of ambassadors whose role is to help raise awareness of HIV and of our work. As at 30 June 2024, our Ambassadors were: 

**Lord Puttnam CBE Professor Michael Adler CBE John Bowis OBE Mark Chataway Lady Falconer of Thoroton Rt Hon Lord Fowler David Grayson CBE Jonathan Grimshaw MBE Robin Pauley Baroness Prashar CBE Dame Ruth Runciman** 

## **Clinical Advisory Group** 

Our Clinical Advisory Group provides invaluable clinical advice to inform and support our policy and campaigning work. Current members of this group are: 

## **Dr Kate Adams** 

**Professor Jane Anderson Dr Tristan Barber Dr Dan Clutterbuck Ceri Evans Dr William Ford-Young Jamie Hardie Dr Chritian Jessen Eileen Nixon Dr Adrian Palfreeman Nick Perry Dr Iain Reeve Dr Ann Sullivan Dr Shema Tariq Dr Steve Taylor Dr Lee Winter Sarah Zetler** 

** Member of the Recruitment and Succession Planning Committee 

*** Member of the Fundraising and Engagement Committee 

All Trustees give of their time freely and no Trustee received remuneration in the year. Trustees can claim travel and subsistence expenses where necessary to enable participation at Board of Trustees meeting. The remuneration of the Chief Executive in 202324 was £79,368 per annum. Remuneration is set at levels consistent with other charities of a similar size and nature and, where relevant, guided by the NJC pay scales. 

**27** 

**Annual Report 2023-24** 



## **Key management personnel** 

Trustees, who are also directors, are responsible for the governance and strategic direction of the organisation, and delegate the dayto-day running of the charity to the Chief Executive and members of the Senior Management Team. Together, these comprise the key management personnel for the organisation. 

- **Deborah Gold,** Chief Executive (to June 2024) 

- **Kat Smithson,** Director Communications and Engagement (to 12 March 2024) 

**• Joe Parry,** Director Communications and Engagement (from 11 March 2024) 

**• Kate Fitch,** Interim Director of Policy, Research and Influencing (consultant to 5 Oct 2023) 

**• Daniel Fluskey,** Director of Policy, Research and Influencing (from 3 Oct 2023) 

- **Hannah Daws,** Director of Fundraising (from 31 July 2023) 

## **National AIDS Trust staff** 

The Senior Management Team is supported by a small but dedicated staff team who as of 30 June 2024 were: 

- **Santiago Agra Bermejo** 

- **Oluwakemi Agunbiade** 

- **Nigel Burch** 

- **Ann Clark** 

- **Jude Clarke** 

- **James Cole** 

- **Chris Dye** 

- **Adam Freedman** 

- **Gemma Gompertz** 

- **Paul Grainger** 

- **Annie Howard** 

- **Stef McCarthy** 

- **Daron Oram** 

- **Caroline Petersen** 

- **Lindsey Ponsonby** 

- **James Shamtally** 


**2929** 

**Annual Report 2023-24** 

**Structure, governance and management** 



4a Our lat

## **Statements** 

## **Public benefit statement** 

The Trustees confirm that they have complied with their duty to have regard to the Charity Commission’s guidance on public benefit. National AIDS Trust’s charitable purpose is enshrined in its objects: 

- To promote public health through effective HIV prevention and early diagnosis of HIV infection. 

- To promote the rights, dignity, health and wellbeing of people affected by HIV, or at risk of HIV infection, in the UK. 

- To advance the education of the public in general (and in particular policy makers, opinion formers and decision-makers) in order to increase awareness and understanding of HIV and AIDS and eradicate HIV-related stigma, discrimination and inequality. 

The Trustees ensure that this purpose is carried out for the public benefit by influencing public policy and by providing expert information and free practical resources to the public. Our work benefits a wide range of people in the UK who are living with, or at risk of becoming infected with, HIV. Our objects are delivered through our four strategic goals and our progress is reviewed by the Senior Management Team monthly, discussed by the Board of Trustees quarterly and reported externally on an annual basis. The significant activities which National AIDS Trust has undertaken over the last year to carry out its charitable purposes for the public benefit are detailed in section 2 of this report. 

## **Auditor** 

During the reporting period the auditors, Begbies, were deemed to be re-appointed under section 487 (2) of the Companies Act 2006 for the audit of the 2023-24 financial statements. 

## **Statement of Trustees’ responsibilities** 

The Trustees, who are also directors of National AIDS Trust for the purposes of company law, are responsible for preparing the Trustees’ Report 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 charity and of the incoming resources and application of resources, including the net income and expenditure, of the charitable company for the year. 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 Charities SORP. 

- Make judgements and estimates that are responsible and prudent; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. 

**Annual Report 2023-24** 

**31** 




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The Trustees are responsible for keeping adequate<br>**----- End of picture text -----**<br>


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

## **Statement of disclosure to auditor** 

So far as the Trustees are aware, there is no relevant audit information of which the charitable company’s auditor is unaware. Additionally, the Trustees have taken all the necessary steps that they ought to have taken in order to make themselves aware of any relevant audit information and to establish that the charitable company’s auditor is aware of that information. 

The Trustees have prepared this report in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. 

Approved by the Board of Trustees on : **17 December 2024** and signed on its behalf by: .................................................. 

**Professor Jane Anderson CBE** Chair of Board of Trustees 

.................................................. 

**Stephen Crampton-Hayward** Vice-Chair of Board of Trustees 

**Champion** 



## **Independent auditor’s report to the members of National AIDS Trust** 

## **Opinion** 

## **Other information** 

We have audited the financial statements of National AIDS Trust (the ‘charity’) for the year ended 30 June 2024 which comprise the statement of financial activities, the summary income and expenditure account, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). 

In our opinion, the financial statements: 

- give a true and fair view of the state of the charitable company’s affairs as at 30 June 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity 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. 

The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of 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 our audit: 

- the information given in the Trustees’ report for the financial year for which the financial statements are prepared, which includes the directors’ report prepared for the purposes of company law, is consistent with the financial statements; and 

- the directors’ report included within the Trustees’ report has been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report exception** 

## **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 charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. 

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the Trustees’ report. 

We have nothing to report in respect of the following matters in relation to which 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 

**Annual Report 2023-24** 

**33** 



## **Independent auditor’s report (continued) to the members of National AIDS Trust** 

- we have not received all the information and explanations we require for our audit; or 

- the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the Trustees’ report and from the requirement to prepare a strategic report. 

## **Responsibilities of Trustees** 

As explained more fully in the statement of Trustees’ responsibilities, the Trustees, who are also the directors of the charity for the purpose 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 charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 

## **Auditor’s responsibilities for the audit of the financial statements** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. 

## **Extent to which the audit was capable of detecting irregularities, including fraud** 

- Enquiries and confirmation of management and the trustees as to their identification of any non-compliance with laws or regulations, or any actual or potential claims; 

- Review of minutes of Board meetings throughout the period; 

- Incorporating unpredictability into the nature, timing and/ or extent of testing. 

- Evaluation of the selection and application of the accounting policies chosen by the charity. 

- In relation to the risk of management override of internal controls, by undertaking procedures to review journal entries and evaluating whether there was evidence of bias that represented a risk of material misstatement due to fraud; and 

- We assessed the susceptibility of the charity’s financial statements to material misstatement, including how fraud might occur by considering the key risks impacting the financial statements. 

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. 

There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it. 

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc. org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. 

## **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 auditor’s 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. 

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: 

- Agreement of the financial statement disclosures to underlying supporting documentation; 

.....................................6/1/2025 

**Katherine Dee FCA** (Senior Statutory Auditor) for and on behalf of Begbies 

**Chartered Accountants** 9 Bonhill Street **Statutory Auditor** London, EC2A 4DJ 

**34** 

**Financial Statements** 



## **Statement of financial activities for the year ended 30 June 2024** 

|**Current fnancial year**||
|---|---|
|**Income**<br>Notes<br>Donations and legacies<br>Charitable activities<br>Investments<br>Other income<br>3<br>4<br>6<br>5<br>**Expenditure**<br>Raising funds<br>Charitable activities<br>7<br>8<br>Net gains/(losses)<br>on investments<br>12<br>Fund balances at 1 July 2023<br>**Total income and endowments**<br>**Total expenditure**<br>**Net movement in funds**<br>**Fund balances at 30 June 2024**|Unrestricted<br>Funds<br>(£)<br>Restricted<br>Funds<br>(£)<br>Endowment<br>Fund<br>(£)<br>Total<br>2023-24<br>(£)<br>Total<br>2022-23<br>(£)<br>883,105<br>282,937<br>14,822<br>-<br>202,880<br>-<br>-<br>282<br>-<br>-<br>6,944<br>(282)<br>1,085,985<br>282,937<br>21,766<br>-<br>820,594<br>307,757<br>7,745<br>-|
||**1,180,864**<br>**203,162**<br>**6,662**<br>**1,390,688**<br>**1,136,096**|
||282,407<br>817,440<br>-<br>270,549<br>-<br>-<br>282,407<br>1,087,989<br>289,217<br>844,377|
||**1,099,847**<br>**270,549**<br>**-**<br>**1,370,396**<br>**1,133,594**|
||-<br>-<br>(1,592)<br>(1,592)<br>-|
||**81,017**<br>**(67,387)**<br>**5,070**<br>**18,700**<br>**2,502**|
||549,000<br>98,338<br>260,829<br>908,167<br>905,665|
||**630,017**<br>**30,951**<br>**265,899**<br>**926,867**<br>**908,167**|



**3535** 

**Annual Report 2023-24** 



## **Statement of financial activities (continued) for the year ended 30 June 2024** 

## **Prior financial year** 

|**Income**<br>Notes<br>Donations and legacies<br>Charitable activities<br>Investments<br>3<br>4<br>6<br>**Expenditure**<br>Raising funds<br>Charitable activities<br>7<br>8<br>Net gains/(losses) on<br>investments<br>12<br>Fund balances at 1 July 2023<br>**Total income and endowments**<br>**Total expenditure**<br>**Net movement in funds**<br>**Fund balances at 30 June 2024**|Unrestricted<br>Funds<br>(£)<br>Restricted<br>Funds<br>(£)<br>Endowment<br>Fund<br>(£)<br>Total<br>2022-23<br>(£)<br>514,104<br>307,757<br>5,318<br>306,490<br>-<br>-<br>-<br>-<br>2,427<br>820,594<br>307,757<br>7,745|
|---|---|
||**827,179**<br>**306,490**<br>**2,427**<br>**1,136,096**|
||288,377<br>520,900<br>-<br>323,477<br>840<br>-<br>289,217<br>844,377|
||**809,277**<br>**323,477**<br>**840**<br>**1,133,594**|
||-<br>-<br>-<br>-|
||**17,902**<br>**(16,987)**<br>**1,587**<br>**2,502**|
||531,098<br>115,325<br>259,242<br>905,665|
||**549,000**<br>**98,338**<br>**260,829**<br>**908,167**|



**3636** 

**Financial Statements** 



## **Summary income and expenditure account for the year ended 30 June 2024** 

|Gross income<br>Total expenditure fro income funds<br>**Net income for the year**|2023-24<br>(£)<br>2022-23<br>(£)<br>1,384,026<br>1,370,396<br>1,133,669<br>1,132,754|
|---|---|
||**13,630**<br>**915**|




**Annual Report 2023-24** 

**37** 



## **Balance Sheet as at 30 June 2024** 

|**Balance Sheet**<br>**as at 30 June 2024**|||
|---|---|---|
|Notes<br>**Fixed assets**<br>Tangible assets<br>Endowment investment<br>15<br>16<br>**Current assets**<br>Stocks<br>Debtors falling due after one year<br>Debtors falling due within one year<br>Cash at bank and in hand<br>17<br>18<br>18<br>**Creditors: amounts falling**<br>**due within one year**<br>20<br>Net current assets<br>**Capital funds**<br>Permanent endowment<br>23<br>**Income funds**<br>Restricted funds<br>Unrestricted funds - general<br>26<br>27<br>**Total assets less current liabilities**|£<br>£<br>£<br>£<br>20,674<br>265,227<br>18,786<br>260,829<br>13,032<br>4,136<br>497,765<br>371,962<br>13,961<br>4,136<br>227,473<br>568,879<br>**2023-24**<br>**2022-23**<br>285,901<br>279,615<br>886,895<br>(245,929)<br>814,449<br>(185,897)<br>265,899<br>260,829<br>30,951<br>630,017<br>98,338<br>549,000<br>926,867<br>908,167<br>640,966<br>628,552<br>**926,867**<br>**908,167**||
|||13,961<br>4,136<br>227,473<br>568,879<br>285,901<br>279,615<br>814,449<br>(185,897)<br>640,966<br>628,552|
||886,895<br>(245,929)||
||||
|||**926,867**<br>**908,167**|
|||265,899<br>260,829<br>30,951<br>630,017<br>98,338<br>549,000|
|||926,867<br>908,167|



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

The financial statements were approved by the Trustees on 17 December 2024. 


**----- Start of picture text -----**<br>
..................................................<br>**----- End of picture text -----**<br>


.................................................. .................................................. **Professor Jane Anderson CBE (Chair) Stephen Crampton-Hayward** Trustee Trustee 

Company Registration No.2175938 

**38** 

**Financial Statements** 



## **Statement of cash flows for the year ended 30 June 2024** 

|**Relating to:**<br>Cash at bank and in hand<br>Deposits included in fxed asset<br>investments - endowment<br>Notes<br>**Cash fows from operating**<br>**activities**<br>Cash (absorbed by)/generated<br>from operations<br>30<br>**Investing activities**<br>Purchase of tangible fxed assets<br>Purchase of investments<br>Interest received<br>**Net cash used in investing**<br>**activities**<br>**Net (decrease)/increase in**<br>**cash and cash equivalents**<br>Cash and cash equivalents at beginning<br>of year<br>**Cash and cash equivalents at the end of the year**|£<br>£<br>£<br>£<br>(200,027)<br>99,402<br>(12,666)<br>(266,492)<br>21,766<br>(17,305)<br>-<br>7,745<br>**2023-24**<br>**2022-23**|£<br>£<br>£<br>£<br>(200,027)<br>99,402<br>(12,666)<br>(266,492)<br>21,766<br>(17,305)<br>-<br>7,745<br>**2023-24**<br>**2022-23**|
|---|---|---|
|||(257,392)<br>(9,560)|
|||(457,419)<br>89,842<br>829,708<br>739,865|
|||**372,289**<br>**829,708**|
|||371,962<br>327<br>568,879<br>260,829|
|||372,289<br>829,708|



**Annual Report 2023-24** 

**39** 



## **Notes to the financial statements for the year ended 30 June 2024** 

## **1 Accounting policies** 

## **Charity information** 

National AIDS Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is The Green House, 244-254 Cambridge Heath Road, London, E2 9DA. The accounts also include the Gary Philipp Permanent, Endowment which is held in a separate trust in accordance with the wishes of the donor. 

In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1  per member of the charity. 

## **1.1 Accounting convention** 

The financial statements have been prepared in accordance with the charity’s memorandum and articles of association, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their account in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)”. The charity is a Public Benefit Entity as defined by FRS 102. 

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. 

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 

Endowment funds are long term capital funds held to produce income for future accounting periods. The Gary Philipp Endowment is to be held in a separate trust to the charity for its continuing benefit, but is consolidated within these accounts. 

## **1.4 Income** 

Income is recognised when the charity is legally entitled to it, the amounts can be measured reliably, and it is probable that income will be received. Incoming resources are deferred when the conditions on which they may be received are not yet satisfied, 

Donations and legacies are accounted for in the year in which they are received. 

Grants are recognised when receivable. Where grants are for a specific future time period the funds are deferred. Multi-year grants which have implicit time apportionment are deferred to the extent that they are for future time periods. 

Contract income is recognised as the required service is performed. 

All income arising on deposits is accounted for when receivable. 

The value of services provided by general volunteers has not been included within incoming resources. Donated services are included at an estimate of cost where material. 

## **1.5 Expenditure** 

## **1.2 Going concern** 

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 

## **1.3 Charitable funds** 

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. 

Designated funds comprise funds which have been set aside at the discretion of the Trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements. 

Restricted funds are subject to specific conditions by donors or granters as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 

Liabilities are recognised as resources expended where there is a legal and constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and includes attributable value added tax which cannot be recovered. 

All other expenditure is charged on an accruals basis and is analysed between direct charitable and other expenditure as detailed in the Statement of Financial Activities. 

Costs of raising funds comprise those costs directly attributable to raising voluntary income and those incurred in trading activities that raise funds. Costs of raising funds include an apportionment of support costs salaries based on the proportion of staff time dedicated to generating funds, and of other support costs on the same basis after grant funded overheads are removed. 

Core policy work costs are in respect of work in responding to specific policy issues and specific strategic development support for the HIV sector. Core policy work include an apportionment of support costs salaries based on the proportion of staff time dedicated to generating funds, and of other support costs on the same basis. Any overheads funded by restricted grant funding are allocated to core policy work. 

**40** 

**Financial Statements** 



## **Notes to the financial statements (continued) for the year ended 30 June 2024** 

## **1.5 Expenditure (continued)** 

Support costs include the general overheads of the charity, not attributable to direct charitable activities such as the website, office overheads and the finance function. Support costs are reallocated across fundraising and charitable activities in proportion to salaries as an estimation of the fair use of these resources. 

Governance costs include those incurred in the governance of the charity and its assets are primarily associated with constitutional and statutory requirements. Governance costs are attributed entirely to charitable activities as an estimate of the fair use of how this arises. 

## **Tangible fixed assets** 

## **1.6** 

Tangible assets are stated at cost less depreciation. All assets costing more than £1,000 are capitalised. 

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost less the estimated residual value of each asset over its expected useful life, which is reviewed annually. The rates used are as follows: 

**Equipment, fixtures 20%-33% straight line and fittings** 

## **1.7 Stocks** 

## **Basic financial assets** 

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at settlement value. Financial assets classified as receivable within one year are not amortised. 

## **Basic financial liabilities** 

Basic financial liabilities, including creditors are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised. 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. 

## **Derecognition of financial liabilities** 

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. 

## **1.10** 

## **Taxation** 

HM Revenue & Customs has recognised the company’s charitable status for taxation purposes. The trustees judge the company’s activities to have been within the scope of charitable status during the reporting period and accordingly no provision for tax has been made. 

Stock represents red ribbon brooches and lapel badges purchased in advance and held at the year end. Stock is stated at cost. 

## **1.8 Cash and cash equivalents** 

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of approximately three months or less. 

## **1.9 Financial instruments** 

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. 

## **Employee benefit** 

## **1.11** 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 

## **1.12 Retirement benefits** 

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 

Financial instruments are recognised in the charity’s balance sheet when the charity becomes party to the contractual provisions of the instrument. 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 

**Annual Report 2023-24** 

**41** 



## **Notes to the financial statements (continued) for the year ended 30 June 2024** 

## **2** 

## **Critical accounting estimates and judgements** 

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 

## **Critical judgements** 

## **Contract income deferral** 

Contract income is recognised in line with the required work being undertaken. At the balance sheet date, income relating to work which has yet to be performed is deferred within creditors. In deciding the level of income to be recognised estimates are made based on the length of the contract and the activities still to be undertaken. 

## **Legacy valuations** 

The charity recognises legacies when entitlement arises and the amount of the legacy can be estimated. Where a legacy is due at the balance sheet date, any amounts received until the date that the accounts are approved will be used as the estimate of the legacy debtor figure. In the event that the legacy has not been received at the date that the accounts are approved, the legacy will only be recognised if the executors or legal advisors have provided an estimate of the amount receivable to the charity. 

## **Useful economic lives of tangible assets** 

The annual depreciation charge for tangible assets is sensitive to changes in the estimated economic lives and residual value of assets. The useful lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 15 for carrying amounts of tangible assets. 

|**Donations and legacies**<br>**3**||
|---|---|
|Grants (£5,000+) plus all pharmaceutical grants<br>Other grants and donations<br>Donated goods and services<br>The Baring Foundation<br>City Bridge Foundation<br>Gilead Sciences Ltd<br>IAS Society<br>M·A·C VIVA GLAM<br>Martin Bowley Charitable Trust<br>**Grants (£5,000+) plus all**<br>**pharmaceutical grants**|Total<br>2023-24<br>(£)<br>Total<br>2022-23<br>(£)<br>299,879<br>779,836<br>6,270<br>362,371<br>457,100<br>1,123<br>1,085,985<br>820,594<br>-<br>51,742<br>35,022<br>-<br>50,000<br>5,500<br>31,200<br>49,151<br>15,538<br>8,982<br>-<br>5,000|



**42** 

**Financial Statements** 



## **Notes to the financial statements (continued) for the year ended 30 June 2024** 

## **3 Donations and legacies (continued)** 

|Individual and community<br>Corporate donations<br>Legacies<br>Personal donations of £5,000 or more are<br>included in the individual & community category.<br>**Other grants and donations**<br>Merck, Sharpe & Dohme Ltd<br>Mill Charitable Trust<br>National Lottery  Community Fund<br>Trust for London<br>ViiV Healthcare UK Limited|1,250<br>20,000<br>81,588<br>60,000<br>89,663<br>1,500<br>20,000<br>86,115<br>30,000<br>20,000|
|---|---|
||299,879<br>362,372|
||122,768<br>88,998<br>568,070<br>133,765<br>283,358<br>39,977|
||779,836<br>457,100|
|||



## **4 Charitable activities** 

|Add: deferred income brought forward<br>European international project funding<br>Royal Free London NHS Foundation Trust - Fast<br>Track Cities<br>Gilead Sciences Ltd & ViiV Healthcare UK Ltd<br>joint HIV outcomes project<br>Less: deferred income carried forward<br>Awareness raising through red ribbon products<br>Other income|Total<br>2023-24<br>(£)<br>Total<br>2022-23<br>(£)<br>90,326<br>61,138<br>92,541<br>152,000<br>(134,867)<br>-<br>141,049<br>131,215<br>98,000<br>(90,326)|
|---|---|
||261,138<br>279,938<br>19,161<br>2,638<br>24,837<br>2,982|
||282,937<br>307,757|



## **Government income** 

No statutory income was recognised in these accounts where service obligations remained outstanding. No income was received from statutory sources other than lasted above (2023: £nil). 

**Annual Report 2023-24** 

**43** 



## **Notes to the financial statements (continued) for the year ended 30 June 2024** 

|**5**|**Other income**|||||||
|---|---|---|---|---|---|---|---|
|||Restricted|Endowment|Total|Restricted|Endowment|Total|
|||funds 23-24|funds 23-24|2023-24|funds 22-23|funds 22-23|2022-23|
|||(£)|(£)|(£)|(£)|(£)|(£)|
|Released from||282|(282)|-|-|-|-|
|endowment funds||||||||



During the year the charity invested the Gary Philipp Endowment in COIF Ethical Investment Fund Income units. In accordance with Gary Philipp Endowment deed, once invested the income and gains are to be transferred to the restricted funds to spend in accordance with the donors wishes. 

## **6 Investments** 

|Income from COIF<br>fund units<br>Interest receivable|Endowment<br>funds 22-23<br>(£)<br>Total<br>2022-23<br>(£)<br>Total<br>2023-24<br>(£)<br>Unrestricted<br>funds 22-23<br>(£)<br>Unrestricted<br>funds 23-24<br>(£)<br>Endowment<br>funds 23-24<br>(£)<br>-<br>2,427<br>-<br>7,745<br>1,874<br>19,892<br>-<br>5,318<br>-<br>14,822<br>1,874<br>5,070|
|---|---|
||2,427<br>7,745<br>21,766<br>5,318<br>14,822<br>6,944|



## **7 Raising funds** 

|Fundraising salaries<br>Associated operating costs<br>Support costs<br>Charitable fundraising costs<br>Endowment legal fees|Total<br>2023-24<br>(£)<br>Total<br>2022-23<br>(£)<br>182,308<br>35,748<br>64,351<br>167,169<br>34,434<br>86,774|
|---|---|
||**282,407**<br>**288,377**|
||-<br>840|
||282,407<br>289,217|



**Annual Report 2023-24** 

**Financial Statements** 

**44** 



## **Notes to the financial statements (continued) for the year ended 30 June 2024** 

**8 Charitable activities** 

|**Policy work and campaigning**<br>Staff costs<br>Other direct charitable expenditure<br>Share of support costs (see note 11)<br>Share of governance cost (see note 11)<br>**Analysis by fund**<br>Unrestricted funds - general<br>Restricted funds|Total<br>2023-24<br>(£)<br>Total<br>2022-23<br>(£)<br>620,843<br>200,768<br>427,130<br>133,497|
|---|---|
||821,611<br>560,627<br>219,147<br>47,231<br>221,713<br>62,037|
||1,087,989<br>844,377|
||817,440<br>270,549<br>520,900<br>323,477|
||1,087,989<br>844,377|



The core policy work of the charity consists of its pursuit of its overall aims and long-term outcomes, as explained in the outcomes framework and theory of change and summarised in the objectives and activities. Core policy work additionally includes elements of work to develop capacity and influence, which relates to developing networks and influencing Parliamentarians. The specific activities undertaken within these work streams are outlined in the Trustees’ Annual Report. 

**Annual Report 2023-24** 

**45** 



## **Notes to the financial statements (continued) for the year ended 30 June 2024** 

## **9 Charitable activities costs across charitable aims** 

The charity has four main areas of charitable activity, although each project may cover multiple charitable aims. The estimated costs across the charitable aims is as follows: 

|Stop<br>Champion<br>Protect<br>Drive|Support<br>Costs<br>(£)<br>Total<br>2022-23<br>(£)<br>Total<br>2023-24<br>(£)<br>Direct<br>Charitable<br>(£)<br>Direct<br>Charitable<br>(£)<br>Support<br>Costs<br>(£)<br>62,425<br>25,538<br>104,988<br>90,800<br>185,763<br>75,994<br>312,419<br>270,201<br>239,358<br>97,919<br>402,556<br>348,156<br>123,338<br>50,456<br>207,432<br>179,401<br>180,754<br>73,945<br>303,996<br>262,916<br>58,603<br>23,974<br>98,560<br>85,241<br>**2022-23**<br>**2023-24**|
|---|---|
||283,750<br>844,377<br>1,087,989<br>560,627<br>821,611<br>266,378|



The focus of charitable activities varied across the two years as the projects changed. 

**10 Trustees** 

The trustees of the charity received no remuneration in either the current or previous year. 

In 2024 no trustee was reimbursed travel and subsistence expenses (2023: none). 

Trustee insurance is included with the general insurance policy. 

There were no other transaction with trustees requiring disclosure in either the current or previous year other than those disclosed in note 23. 

**46** 

**Financial Statements** 



## **Notes to the financial statements (continued) for the year ended 30 June 2024** 

## **11 Support costs** 

||Support|Governance|Total|Support|Governance|Total|
|---|---|---|---|---|---|---|
||costs|costs|2023-24|costs|costs|2022-23|
||(£)|(£)|(£)|(£)|(£)|(£)|
|Staff costs|117,894|37,540|155,434|161,899|52,189|214,088|
|Depreciation|10,778|-|10,778|9,064|-|9,064|
|Non salary staffng and|51,664|-|51,664|41,498|-|41,498|
|recruitment costs|||||||
|Offce expenditure|8,232|-|8,232|9,261|-|9,261|
|Telephone and internet|3,038|-|3,038|2,790|-|2,790|
|Web hosting and IT|23,368|-|23,368|27,716|-|27,716|
|Premises expenditure|57,735|-|57,735|50,971|-|50,971|
|Insurance|2,386|-|2,386|3,066|-|3,066|
|Professional fees|8,403|-|8,403|2,222|-|2,222|
|Audit and accountancy|-|6,960|6,960|-|7,200|7,200|
|fees|||||||
|Legal and professional|-|339|339|-|339|339|
|Trustees’ meetings and|-|2,269|2,269|-|2,309|2,309|
|training|||||||
|Meeting costs|-|123|123|-|-|-|
||283,498|47,231|330,729|308,487|62,037|370,524|
|**Analysed between**|||||||
|Fundraising|64,351|-|64,351|86,774|-|86,774|
|Charitable activities|219,147|47,231|266,378|221,713|62,037|283,750|
||283,498|47,231|330,729|308,487|62,037|370,524|



Governance costs includes payments to the auditors of £4,400 exclusive of VAT (2022-23- £4,400) for audit fees. Other fees paid to the auditor includes accounts preparation costs of £1,400 exclusive of VAT (2022-23-£1,400) and payroll advice costs of £50 exclusive of VAT (2022-23 nil). 

**Annual Report 2023-24** 

**47** 



## **Notes to the financial statements (continued) for the year ended 30 June 2024** 

|**12**|**Gains and losses on investments**|||
|---|---|---|---|
|||Endowment|Endowment|
|||funds 23-24|funds 22-23|
|||(£)|(£)|
||**Gains/(losses) arising on:**|||
||Revaluation of investments|(1,592)|-|



**13 Taxation** 

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 

|**Employees**<br>**14**||
|---|---|
|**Number of employees**<br>The average staff headcount during the year was as follows:<br>Wages and salaries<br>Social security costs<br>Other pension costs<br>**Employment costs**<br>Core policy work<br>Fundraising<br>Support and governance<br>**Employment costs by department**|2023-24<br>Number<br>2022-23<br>Number<br>20<br>20<br>864,839<br>45,093<br>48,653<br>699,753<br>69,190<br>39,444<br>958,585<br>808,387<br>2023-24<br>£<br>2022-23<br>£<br>620,843<br>182,308<br>155,434<br>427,130<br>167,169<br>214,088<br>958,585<br>808,387<br>Total<br>2023-24<br>(£)<br>Total<br>2022-23<br>(£)|



**48** 

**Financial Statements** 



## **Notes to the financial statements (continued) for the year ended 30 June 2024** 

## **14** 

## **Employees (continued)** 

The key management personnel of the charitable company comprise the Trustees, the Chief Executive, the Director of Fundraising, the Director of Communications and Engagement and the Director of Policy, Research and Influencing. The total employee benefits of the key management personnel of the charitable company during the year were £314,346 (2023: the Chief Executive, the Director of Fundraising and the Director of Policy and Communications £214,401). 

The number of employees whose annual remuneration was £60,000 or more were: 

## £70,000 - £80,000 

|2023-24|2022-23|
|---|---|
|Number|Number|
|1|1|



Total employer pension contributions for the employee in the above band were £4,762 in 2024 (2023: £4,463). Pension costs are not included in the emolument band calculations. 

**15 Tangible fixed assets** 

|**Cost**<br>At 1 July 2023<br>Additions<br>**At 30 June 2024**<br>**Depreciation and impairment**<br>At 1 July 2023<br>Depreciation charged in the year<br>**At 30 June 2024**<br>**Carrying amount**<br>At 30 June 2024<br>**At 30 June 2023**|Equipment,<br>fxtures and<br>fttings (£)<br>89,086<br>12,666|
|---|---|
||**101,752**|
||70,300<br>10,778|
||**81,078**|
||20,674|
||**18,786**|



**Annual Report 2023-24** 

**49** 



## **Notes to the financial statements (continued) for the year ended 30 June 2024** 

**16 Fixed asset investments** 

|**Cost or valuation**<br>At 1 July 2023<br>Additions<br>Valuation changes<br>Invested<br>**At 30 June 2024**<br>**Carrying amount**<br>At 30 June 2024<br>**At 30 June 2023**|Fund Units<br>(£)<br>Cash<br>(£)<br>Total<br>(£)<br>-<br>266,492<br>(1,592)<br>-<br>260,829<br>5,990<br>-<br>(266,492)<br>260,829<br>272,482<br>(1,592)<br>(266,492)|
|---|---|
||**327**<br>**265,227**<br>**264,900**|
||265,227<br>327<br>264,900|
||**260,829**<br>**260,829**<br>**-**|



During the year the Gary Philipp Endowment was invested in CCLA COIF Charities Ethical Investment Fund Income units. 

The charity seeks to minimise the risks of holding investments, which comprise mainly market, yield and liquidity risks, through the appointment of an independent Investment Manager, who invests via common investment funds specifically tailored for charities of this nature. The trustees’ report contains further details of the charity’s investment policy. 

The holding of common investment units allows the charity to access increased diversification at a lower cost than would otherwise be available, and so decreases the risks of holding investments. At the balance sheet date the units held by the charity where invested in the following areas: 

|Fixed Income<br>UK Equities<br>Global Equities<br>Infrastructure and Operating Assets<br>Property<br>Other<br>Liquid Assets<br>**Total**|%<br>8<br>7<br>65<br>10<br>4<br>4<br>2|
|---|---|
||**100**|



**50** 

**Financial Statements** 



## **Notes to the financial statements (continued) for the year ended 30 June 2024** 

**17 Stocks** 

||2023-24|2022-23|
|---|---|---|
||(£)|(£)|
|Stocks of red ribbon lapel pins and brooches|13,032|13,961|



The charity holds small amounts of stock for resale throughout the year. At the current and previous year end the charity held stocks of Red Ribbons in advance of World AIDS Day on 1st December and as such these are recognised as stock at the year end. The Red Ribbons are both sold to the public on the charity’s website and used as a token of gratitude for donations. The income from these ribbons will be recognised in future time periods and accordingly the costs have been deferred. 

|**Debtors**<br>**18**||
|---|---|
|**Amounts falling due within one year**<br>Grants and donations invoiced<br>Other debtors<br>VAT recoverable<br>Donations and grants accrued income<br>Legacies due<br>Prepayments<br>**Amounts falling due after more than**<br>**one year**<br>Rent deposit<br>**Total debtors**|2023-24<br>(£)<br>2022-23<br>(£)<br>25,665<br>2,830<br>-<br>12,297<br>434,579<br>22,394<br>207<br>-<br>7,499<br>165,154<br>38,977<br>15,636<br>497,765<br>227,473<br>4,136<br>4,136<br>**501,901**<br>**231,609**|



**Annual Report 2023-24** 

**51** 



## **Notes to the financial statements (continued) for the year ended 30 June 2024** 

**19** 

**Retirement benefit schemes** 

|**Defned contribution schemes**|2023-24<br>(£)|2022-23<br>(£)|
|---|---|---|
|Charge to proft or loss in respect of defned|48,653|39,444|
|contribution schemes|||



The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. 

## **20 Creditors: amounts falling due within one year** 

|Other taxation and social security<br>Deferred income<br>Trade creditors<br>Other creditors<br>Accruals and other creditors<br>Notes<br>21|2023-24<br>(£)<br>2022-23<br>(£)<br>34,998<br>136,227<br>21,857<br>3,178<br>49,669<br>14,790<br>90,326<br>29,086<br>2,393<br>49,302|
|---|---|
||245,929<br>185,897|



## **21 Deferred income** 

||2023-24|2022-23|
|---|---|---|
||(£)|(£)|
|Arising from deferred income|136,227|90,326|



Deferred income comprises contracts which were underway at the balance sheet date and tickets sold for future events. All deferred income reverses within one year. 

**52** 

**Financial Statements** 



## **Notes to the financial statements (continued) for the year ended 30 June 2024** 

## **22 Operating lease commitments** 

During the 2021-22 year, the charity moved to new premises under a lease to 31st March 2027, with a tenant break clause of rolling four months’ notice from 1st June 2023. The below table includes the rent payable until the earliest that the office could be surrendered. 

During the 2019-20 year the charity also signed a 5 year copier lease. 

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows: 

|Within one year<br>Between two and fve years|2023-24<br>(£)<br>2022-23<br>(£)<br>13,820<br>-<br>14,829<br>339|
|---|---|
||13,820<br>15,168|



## **23 Endowment funds** 

## **Movement in funds** 

||**Movement in funds**|
|---|---|
|Gary Philipp<br>Endowment<br>**Permanent**<br>**endowments**|Balance at<br>30 June<br>2024 (£)<br>265,899<br>Gains and<br>losses<br>(£)<br>(1,592)<br>Transfers<br>(£)<br>(282)<br>Incoming<br>resources<br>(£)<br>6,944<br>Balance at<br>1 July<br>2023 (£)<br>260,829<br>Incoming<br>resources<br>(£)<br>2,427<br>Balance at<br>1 July<br>2022 (£)<br>259,242|
||265,899<br>(1,592)<br>(282)<br>6,944<br>260,829<br>2,427<br>259,242|



Gary Philipp Endowment -At the end of 2021 the trustees received a legacy on behalf of Gary Philipp for the purposes of investment to generate income and gains. The expenditure of both the income and gains is restricted to contribute to combating stigma and discrimination experienced by people living with, at risk of, or affected by HIV. The bequest is to be accounted for as a permanent endowment, however both the gains and income may be expended on restricted purposes. The restrictions and capital will be released on 14th June 2041. 

Once invested, in accordance with the wishes of the donor, income and gains will be transferred to the Gary Philipp restricted fund for use in the permitted projects. 

During the 2022 year the final terms of the endowment were agreed and the charity has been advised that the endowment must be held in a separate trust. On the 28th December 2022 a trust deed was signed for the benefit of the charity, and the endowment remains consolidated within the charity’s accounts. 

**53** 

**Annual Report 2023-24** 



## **Notes to the financial statements (continued) for the year ended 30 June 2024** 

|**Total return on endowment**<br>**24**||
|---|---|
|**Opening value of endowment**<br>Unapplied total return<br>**Total**<br>**Movement in unapplied total return**<br>**and endowment in the year**<br>Investment return: dividends and interest<br>Investment return: recognised and unrecognised gains/losses<br>Transfer to restricted income fund<br>**Total**<br>Unapplied total return allocated to income<br>Net movement in the reporting period<br>**Closing value of permanent endowment**<br>Gift component of permanent endowment<br>Unapplied total return<br>**Total**|(£)<br>260,829<br>(1,587)<br>**259,242**<br>6,944<br>(1,592)<br>(282)<br>**5,070**<br>-<br>5,070<br>259,242<br>6,657<br>**265,899**|



The Gary Philip Endowment deed requires a total investment return basis of accounting once the capital is invested. The above table shows the split between initial capital and retained un-applied total return. 

**25 Financial commitments, guarantees and contingent liabilities** 

During the 2019-20 year the charity received a joint residual legacy. One of the specific legatees has not been traced. In the event of their claiming their share of the estate, the charity has a joint and several liability capped at €25,000. 

**Financial Statements** 

**54** 



## **Notes to the financial statements (continued) for the year ended 30 June 2024** 

## **26 Restricted funds** 

The restricted funds of the charity comprise the unexpected balances of donations and grant held on trust subject to specific conditions by donors as to how they may be used. 

|City Bridge Foundation<br>- London Activists<br>Network<br>City Bridge<br>Cornerstone Fund<br>- Unheard Voices<br>Project<br>Evan Cornish<br>Foundation -<br>Criminalisation<br>Gilead - Fellowship<br>Gilead - Mpox<br>Gilead - IAS AIDS<br>Conference<br>Gilead - Changing<br>perceptions<br>Gilead - Ending Stigma<br>The Baring Foundation<br>- Discrimination policy<br>The National Lottery<br>Community Fund - RC<br>England Wide Trust<br>For London - core<br>campaigning costs<br>Swarovski Foundation<br>- Ending HIV Nationally<br>ViiV Healthcare -<br>Prevention<br>Gary Philipp<br>Endowment -<br>combatting stigma and<br>discrimination|Balance at<br>30 June<br>2024 (£)<br>Resources<br>expended<br>(£)<br>Incoming<br>resources<br>(£)<br>Balance at<br>1 July<br>2023 (£)<br>Resources<br>expended<br>(£)<br>Incoming<br>resources<br>(£)<br>Balance at<br>1 July<br>2022 (£)<br>2,409<br>12,390<br>(14,799)<br>-<br>-<br>-<br>36,761<br>(32,491)<br>4,270<br>51,742<br>(55,471)<br>541<br>4,042<br>-<br>(4,042)<br>-<br>-<br>-<br>-<br>-<br>-<br>27,774<br>(26,150)<br>1,624<br>-<br>7,684<br>(7,684)<br>-<br>-<br>-<br>-<br>-<br>-<br>2,909<br>-<br>2,909<br>-<br>-<br>-<br>-<br>4,340<br>4,340<br>16,264<br>7,204<br>(23,468)<br>-<br>-<br>-<br>31,200<br>(31,200)<br>-<br>-<br>-<br>81,588<br>(79,944)<br>1,644<br>86,115<br>(84,338)<br>3,421<br>-<br>60,000<br>(30,000)<br>30,000<br>30,000<br>(42,166)<br>17,834<br>18,014<br>-<br>(18,010)<br>4<br>(4)<br>-<br>49,503<br>69.663<br>(56,746)<br>62,420<br>-<br>(62,420)<br>-<br>25,093<br>-<br>(25,093)<br>-<br>282<br>282|
|---|---|
||30,951<br>(270,549)<br>203,162<br>98,338<br>(323,477)<br>306,490<br>115,325|



**Annual Report 2023-24** 

**55** 



## **Notes to the financial statements (continued) for the year ended 30 June 2024** 

## **26 Restricted funds (continued)** 

City Bridge Foundation - London Activists Network 

Grant funding project supporting activists to campaign for HIV rights 

City Bridge Cornerstone Fund - Unheard Voices Project 

Funds given towards project empowering Black communities living with HIV 

Evan Cornish Foundation- Criminal justice system 

A project to create a fairer criminal justice system for people living with HIV 

Gilead - Mpox 

A grant towards mitigating the impact of mpox on the sexual health system 

Gilead - Fellowship 

A grant to support research project and development of an influencing strategy on the harms caused by criminalisation of HIV transmission 

Gilead - IAS AIDS Conference 

To cover conference attendance costs 

Gilead - Changing perceptions 

A grant to support qualitative research into quality of life and unmet needs for people living with HIV 

Gilead - Ending Stigma Merck Sharp & Dohme 

A grant towards a project to end stigma 

A grant towards the MSD Whole Person Care Partnership 

The Baring Foundation - Discrimination Policy 

Funds given towards our anti-discrimination work 

The National Lottery Community Fund - RC England Wide 

Funding legal support for cases of HIV discrimination 

Trust for London - core campaigning 

Funds given towards our work campaigning for rights for migrants living with HIV and to improve the welfare system for people living with HIV 

Swarovski Foundation - Ending HIV nationally 

Funding towards a project to shape policy to end new HIV transmission by 2030 

ViiV Healthcare - Prevention 

Funding towards a project to shape policy to end new HIV transmission by 2030 

Gary Philipp Endowment - combatting stigma & discrimination 

Work to improve the COPS’s approach to cases of reckless transmission of HIV, and to support our anti-stigma campaign 

**56** 

**Financial Statements** 



## **Notes to the financial statements (continued) for the year ended 30 June 2024** 

**27 Analysis of net assets between funds** 

|**Fund balances at 30 June 2024**<br>**are represented by:**<br>Tangible assets<br>Investments<br>Current assets/(liabilities)<br>**Fund balances at 30 June 2024**<br>**are represented by:**<br>Tangible assets<br>Investments<br>Current assets/(liabilities)|Unrestricted<br>Funds<br>(£)<br>Restricted<br>Funds<br>(£)<br>Endowment<br>Funds<br>(£)<br>Total<br>2023-24<br>(£)<br>20,674<br>1,202<br>608,141<br>-<br>-<br>30,951<br>-<br>264,025<br>1,874<br>20,674<br>265,227<br>640,966<br>**2023-24**|
|---|---|
||265,899<br>926,867<br>630,017<br>30,951|
||Unrestricted<br>Funds<br>(£)<br>Restricted<br>Funds<br>(£)<br>Endowment<br>Funds<br>(£)<br>Total<br>2023-24<br>(£)<br>18,786<br>-<br>530,214<br>-<br>-<br>98,338<br>-<br>260,829<br>-<br>18,786<br>260,829<br>628,552<br>**2022-23**|
||260,829<br>908,167<br>549,000<br>98,338|



## **28 Related party transactions** 

Five trustees personally donated a total of £6,840 to the charity (2023-22, 4 trustees, £3,736) . 

Professor Jane Anderson is Co-Chair of London’s Fast-Track Cities Leadership Group, a partnership of organisations, including the Mayor of London, NHS England, Public Health England and London Councils. During the year the Charity undertook a contract for Fast-Track Cities from which £166,465 has been received in the year. 

**Annual Report 2023-24** 

**57** 



## **Notes to the financial statements (continued) for the year ended 30 June 2024** 

**29 Analysis of changes in net funds** 

The charity had no material debt during the year. 

|**Cash generated from operations**<br>**30**||
|---|---|
|Surplus for the year<br>**Adjustments for:**<br>Investment income recognised in statement of fnancial activities<br>Fair value gains and losses on investments<br>Depreciation and impairment of tangible fxed assets<br>**Movements in working capital:**<br>Decrease/(increase) in stocks<br>(Increase) in debtors<br>Increase in creditors<br>Increase in deferred income<br>**Cash (absorbed by)/generated from operations**|2023-24<br>(£)<br>2022-23<br>(£)<br>18,700<br>2,502<br>(21,766)<br>1,592<br>10,778<br>(7,745)<br>-<br>9,064<br>929<br>(270,292)<br>14,131<br>45,901<br>(22)<br>(28,692)<br>33,969<br>90,326<br>**(200,027)**<br>**99,402**|



**58** 

**Financial Statements** 




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**National AIDS Trust is a Registered Charity** No. 297977 and a Company Limited by Guarantee No. 2175938, (registered in England and Wales) Registered Office: Unit 3.9 The Green House, 244-254 Cambridge Heath Road, London, E2 9DA 

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We’re the UK’s HIV rights charity. We work to stop HIV from standing in the way of health, dignity and equality, and to end new HIV transmissions.