**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: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. 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... Page 7 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... Page 8 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... Page 9 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. Page 10 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 Page 11