REGISTERED CHARITY NUMBER: 800234
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2021
for
THE ORAL AND DENTAL RESEARCH TRUST
Ark Aurora Ltd Chartered Accountants & Chartered Tax Advisers The Maltings 2 Anderson Rd Bearwood Birmingham West Midlands B66 4AR
THE ORAL AND DENTAL RESEARCH TRUST
Contents of the Financial Statements FOR THE YEAR ENDED 31 MARCH 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
THE ORAL AND DENTAL RESEARCH TRUST
Report of the Trustees
FOR THE YEAR ENDED 31 MARCH 2021
The Trustees present their Report and the Financial Statements for the year ended 31st March 2021.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the Trust are to promote the relief of suffering in oral and dental diseases through research and education.
FINANCIAL REVIEW
Financial position
This year our income was £47,958 (31st March 2020: £69,400). The Oral Health Innovations Ltd / PreVisor grant has been suspended as a result of the coronavirus pandemic. The low level of running costs of the Trust has been maintained through the year. There has been an increase in value of the Trust's investments during the year to £93,617 (31st March 2020: £74,111) as the markets recovered after the impact of the pandemic. Overall the financial year return resulted in a profit of £16,829 (31 March 2020: (£54,850)).
Principal funding sources
We remain very grateful to our sponsors for their financial support, which in 2020-2021 amounted to £45,000. Grants of £48,550 were made to 10 recipients, with two unclaimed awards from prior years amounting to £4,859 written back to the accounts.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Trust is governed by a Trust Deed.
Recruitment and appointment of new trustees
Trustees are appointed by invitation and election by the residual Trustees.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
800234
Principal address
Dept of Oral Medicine and Pathology Floor 28, The Tower, Guy's Hospital London SE1 9RT
Trustees
Dr Nigel Carter Professor Iain LC Chapple Treasurer Dr Margaret Kellett Secretary Mr Kevin Lewis Professor Angus WG Walls Chairman and Director Dr Reena Wadia Dr Judith Husband Professor Paul Brocklehurst Mr Paul Speight Mr Marcello Riggio Dr Christopher Vernazza
Page 1
THE ORAL AND DENTAL RESEARCH TRUST
Report of the Trustees
FOR THE YEAR ENDED 31 MARCH 2021
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Ark Aurora Ltd Chartered Accountants & Chartered Tax Advisers The Maltings 2 Anderson Rd Bearwood Birmingham West Midlands B66 4AR Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Professor Iain LC Chapple - Trustee
Page 2
Independent Examiner's Report to the Trustees of The Oral And Dental Research Trust
Independent examiner's report to the trustees of The Oral And Dental Research Trust
I report to the charity trustees on my examination of the accounts of The Oral And Dental Research Trust (the Trust) for the year ended 31 March 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.
M W Pearsall FCA Ark Aurora Ltd Chartered Accountants & Chartered Tax Advisers The Maltings 2 Anderson Rd Bearwood Birmingham West Midlands B66 4AR
Date: .............................................
Page 3
THE ORAL AND DENTAL RESEARCH TRUST
Statement of Financial Activities
FOR THE YEAR ENDED 31 MARCH 2021
| 31.3.21 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 45,000 Investment income 2 2,958 Total 47,958 EXPENDITURE ON Raising funds 3 6,943 Charitable activities COST 43,692 Total 50,635 Net gains/(losses) on investments 19,506 NET INCOME/(EXPENDITURE) 16,829 RECONCILIATION OF FUNDS Total funds brought forward 136,610 TOTAL FUNDS CARRIED FORWARD 153,439 |
31.3.20 Total funds £ 65,000 4,400 69,400 9,259 89,017 98,276 (25,974) (54,850) 191,460 136,610 |
|---|---|
The notes form part of these financial statements
Page 4
THE ORAL AND DENTAL RESEARCH TRUST
Balance Sheet
31 MARCH 2021
| 31.3.21 Unrestricted fund Notes £ FIXED ASSETS Investments 6 93,617 CURRENT ASSETS Debtors 7 - Cash at bank 115,140 115,140 CREDITORS Amounts falling due within one year 8 (55,318) NET CURRENT ASSETS 59,822 TOTAL ASSETS LESS CURRENT LIABILITIES 153,439 NET ASSETS 153,439 FUNDS 9 Unrestricted funds 153,439 TOTAL FUNDS 153,439 |
31.3.20 Total funds £ 74,111 15,000 130,553 145,553 (83,054) 62,499 136,610 136,610 136,610 136,610 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Professor Iain LC Chapple - Trustee
............................................. Professor Angus WG Walls - Trustee
The notes form part of these financial statements
Page 5
THE ORAL AND DENTAL RESEARCH TRUST
Notes to the Financial Statements FOR THE YEAR ENDED 31 MARCH 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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
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. INVESTMENT INCOME
| 31.3.21 | 31.3.20 | |
|---|---|---|
| £ | £ | |
| Other fixed asset invest - FII | 2,952 | 4,368 |
| Interest receivable - trading | 6 | 32 |
| 2,958 | 4,400 |
Page 6
continued...
THE ORAL AND DENTAL RESEARCH TRUST
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2021
3. RAISING FUNDS
Raising donations and legacies
| Raising donations and legacies | ||
|---|---|---|
| 31.3.21 | 31.3.20 | |
| £ | £ | |
| Support costs | 6,943 | 9,259 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees' expenses
During the year, no expenses were reimbursed to trustees. In the year ended 31 March 2020, Dr Wadia was reimbursed £66 and professor Walls £149.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 65,000 |
| Investment income | 4,400 |
| Total | 69,400 |
| EXPENDITURE ON | |
| Raising funds | 9,259 |
| Charitable activities | |
| COST | 89,017 |
| Total | 98,276 |
| Net gains/(losses) on investments | (25,974) |
| NET INCOME/(EXPENDITURE) | (54,850) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 191,460 |
| TOTAL FUNDS CARRIED FORWARD | 136,610 |
continued...
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THE ORAL AND DENTAL RESEARCH TRUST
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2021
6. FIXED ASSET INVESTMENTS
| MARKET VALUE At 1 April 2020 Revaluations At 31 March 2021 NET BOOK VALUE At 31 March 2021 At 31 March 2020 There were no investment assets outside the UK. Cost or valuation at 31 March 2021 is represented by: Valuation in 2021 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 9. MOVEMENT IN FUNDS At 1.4.20 £ Unrestricted funds General fund 136,610 TOTAL FUNDS 136,610 |
Listed investments £ 74,111 19,506 93,617 93,617 74,111 Listed investments £ 93,617 31.3.21 31.3.20 £ £ - 15,000 31.3.21 31.3.20 £ £ 55,318 83,054 Net movement At in funds 31.3.21 £ £ 16,829 153,439 16,829 153,439 |
|---|---|
continued...
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THE ORAL AND DENTAL RESEARCH TRUST
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2021
9. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 47,958 | (50,635) | 19,506 | 16,829 |
| TOTAL FUNDS | 47,958 | (50,635) | 19,506 | 16,829 |
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.19 £ 191,460 191,460 |
Net movement in funds £ (54,850) (54,850) |
At 31.3.20 £ 136,610 |
|---|---|---|---|
| 136,610 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 69,400 | (98,276) | (25,974) | (54,850) |
| TOTAL FUNDS | 69,400 | (98,276) | (25,974) | (54,850) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.19 £ 191,460 191,460 |
Net movement in funds £ (38,021) (38,021) |
At 31.3.21 £ 153,439 |
|---|---|---|---|
| 153,439 |
continued...
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THE ORAL AND DENTAL RESEARCH TRUST
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2021
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 117,358 | (148,911) | (6,468) | (38,021) |
| TOTAL FUNDS | 117,358 | (148,911) | (6,468) | (38,021) |
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2021.
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THE ORAL AND DENTAL RESEARCH TRUST
Detailed Statement of Financial Activities FOR THE YEAR ENDED 31 MARCH 2021
| 31.3.21 | 31.3.20 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 45,000 | 65,000 |
| Investment income | ||
| Other fixed asset invest - FII | 2,952 | 4,368 |
| Interest receivable - trading | 6 | 32 |
| 2,958 | 4,400 | |
| Total incoming resources | 47,958 | 69,400 |
| EXPENDITURE | ||
| Charitable activities | ||
| Grants | 43,692 | 89,017 |
| Support costs | ||
| Management | ||
| Administrative support | 1,000 | 1,250 |
| Meetings | - | 450 |
| Advertising | 5,027 | 3,177 |
| Conference sponsor | - | 3,421 |
| 6,027 | 8,298 | |
| Finance | ||
| Bank charges | 16 | 61 |
| Governance costs | ||
| Accountancy and legal fees | 900 | 900 |
| Total resources expended | 50,635 | 98,276 |
| Net expenditure | (2,677) | (28,876) |
This page does not form part of the statutory financial statements
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