REGISTERED CHARITY NUMBER: 516785
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 August 2021
for
The Vascular Surgery Research Fund
Johnstone Howell & Co 104 Whitby Road Ellesmere Port Cheshire CH65 0AB
The Vascular Surgery Research Fund
Contents of the Financial Statements for the Year Ended 31 August 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
The Vascular Surgery Research Fund
Report of the Trustees for the Year Ended 31 August 2021
The trustees present their report with the financial statements of the charity for the year ended 31 August 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
To reduce suffering from vascular disease by supporting research and education in the area, and to promote wellbeing of professionals engaged in this activity.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number 516785
Principal address
PHLS 3rd Floor University Hospital Aintree Lower Lane Liverpool Merseyside L9 7AL
Trustees
Professor J A Brennan Mr T V How Dr S R Vallabhaneni
Independent Examiner
Mr A M Bagnall Johnstone Howell & Co 104 Whitby Road Ellesmere Port Cheshire CH65 0AB
Approved by order of the board of trustees on 18 September 2023 and signed on its behalf by:
Dr S R Vallabhaneni - Trustee
Page 1
Independent Examiner's Report to the Trustees of The Vascular Surgery Research Fund
Independent examiner's report to the trustees of The Vascular Surgery Research Fund
I report to the charity trustees on my examination of the accounts of The Vascular Surgery Research Fund (the Trust) for the year ended 31 August 2021.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mr A M Bagnall
Johnstone Howell & Co 104 Whitby Road Ellesmere Port Cheshire CH65 0AB
18 September 2023
Page 2
The Vascular Surgery Research Fund
Statement of Financial Activities for the Year Ended 31 August 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Unrestricted | |||
| fund | Total funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 2 | 36,442 | 4,405 |
| EXPENDITURE ON | |||
| Charitable activities | 3 | ||
| Promotional activity | 200 | 1,386 | |
| Travelling and accommodation | - | 11,854 | |
| Medical training and research | 7,043 | 6,765 | |
| Governance costs | 474 | 450 | |
| Total | 7,717 | 20,455 | |
| NET INCOME/(EXPENDITURE) | 28,725 | (16,050) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 69,726 | 85,776 | |
| TOTAL FUNDS CARRIED FORWARD | 98,451 | 69,726 |
The notes form part of these financial statements
Page 3
The Vascular Surgery Research Fund
Balance Sheet
31 August 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Unrestricted | |||
| fund | Total funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 7 | 1 | 1 |
| CURRENT ASSETS | |||
| Cash at bank | 99,455 | 72,376 | |
| CREDITORS | |||
| Amounts falling due within one year | 8 | (1,005) | (2,651) |
| NET CURRENT ASSETS | 98,450 | 69,725 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 98,451 | 69,726 | |
| NET ASSETS | 98,451 | 69,726 | |
| FUNDS | 9 | ||
| Unrestricted funds | 98,451 | 69,726 | |
| TOTAL FUNDS | 98,451 | 69,726 |
The financial statements were approved by the Board of Trustees and authorised for issue on 18 September 2023 and were signed on its behalf by:
Dr S R Vallabhaneni - Trustee
The notes form part of these financial statements
Page 4
The Vascular Surgery Research Fund
Notes to the Financial Statements for the Year Ended 31 August 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Donations | 36,442 | 4,405 |
Page 5
continued...
The Vascular Surgery Research Fund
Notes to the Financial Statements - continued
for the Year Ended 31 August 2021
3. CHARITABLE ACTIVITIES COSTS
| Promotional activity Medical training and research Governance costs SUPPORT COSTS Governance costs |
Support Direct costs (see Costs note 4) Totals £ £ £ 200 - 200 7,043 - 7,043 - 474 474 7,243 474 7,717 Governance costs £ 474 |
Totals £ 200 7,043 474 |
|---|---|---|
| 7,717 |
4. SUPPORT COSTS
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2021 nor for the year ended 31 August 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2021 nor for the year ended 31 August 2020.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 4,405 |
| EXPENDITURE ON | |
| Charitable activities | |
| Promotional activity | 1,386 |
| Travelling and accommodation | 11,854 |
| Medical training and research | 6,765 |
| Governance costs | 450 |
| Total | 20,455 |
| NET INCOME/(EXPENDITURE) | (16,050) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 85,776 |
| TOTAL FUNDS CARRIED FORWARD | 69,726 |
Page 6
continued...
The Vascular Surgery Research Fund
Notes to the Financial Statements - continued for the Year Ended 31 August 2021
| 7. | TANGIBLE FIXED ASSETS | ||||
|---|---|---|---|---|---|
| Computer | |||||
| equipment | |||||
| £ | |||||
| COST | |||||
| At 1 September 2020 and 31 August 2021 | 26,020 | ||||
| DEPRECIATION | |||||
| At 1 September 2020 and 31 August 2021 | 26,019 | ||||
| NET BOOK VALUE | |||||
| At 31 August 2021 | 1 | ||||
| At 31 August 2020 | 1 | ||||
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE | YEAR | |||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Trade creditors | 532 | 1,751 | |||
| Other creditors | 473 | 900 | |||
| 1,005 | 2,651 | ||||
| 9. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | |||||
| At 1.9.20 | in funds | At 31.8.21 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 69,726 | 28,725 | 98,451 | ||
| TOTAL FUNDS | 69,726 | 28,725 | 98,451 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 36,442 | (7,717) | 28,725 | ||
| TOTAL FUNDS | 36,442 | (7,717) | 28,725 |
continued...
Page 7
The Vascular Surgery Research Fund
Notes to the Financial Statements - continued for the Year Ended 31 August 2021
9. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net movement At 1.9.19 in funds At £ £ Unrestricted funds General fund 85,776 (16,050) TOTAL FUNDS 85,776 (16,050) |
31.8.20 £ 69,726 |
|---|---|
| 69,726 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 4,405 | (20,455) | (16,050) |
| TOTAL FUNDS | 4,405 | (20,455) | (16,050) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net movement At 1.9.19 in funds At £ £ Unrestricted funds General fund 85,776 12,675 TOTAL FUNDS 85,776 12,675 |
31.8.21 £ 98,451 |
|---|---|
| 98,451 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 40,847 | (28,172) | 12,675 |
| TOTAL FUNDS | 40,847 | (28,172) | 12,675 |
continued...
Page 8
The Vascular Surgery Research Fund
Notes to the Financial Statements - continued for the Year Ended 31 August 2021
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2021.
Page 9
The Vascular Surgery Research Fund
| Detailed Statement of Financial Activities for the Year Ended 31 August 2021 INCOME AND ENDOWMENTS Donations and legacies Donations Total incoming resources EXPENDITURE Charitable activities Advertising and promotion Conference costs Medical training and research Computer software development for ARDA project Tuition fees Support costs Governance costs Accountancy Total resources expended Net income/(expenditure) |
2021 £ 36,442 36,442 200 - 2,652 510 3,881 7,243 474 7,717 28,725 |
2020 £ 4,405 4,405 1,386 11,854 6,765 - - 20,005 450 20,455 (16,050) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 10