REGISTERED CHARITY NUMBER: 800234 REPORT OF THE TRUSTEE ND UNAUDITED FINANCIAL STATEMENT YEAR ENDED 31 MARCH 2024 THE ORAL AND DENTAL RESEARCH TRUST Ark Aurora Ltd Chartered Accountants & Chartercd Tax Advisers The Maliings 2 Anderson Rd Beanvood Birniingham West Midlands B66 4AR
THE ORAL AND DENTAL RESEARCH TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED I MARCH 2024 Page Report of the Trustees Independent Examinevs Report Statement of Financial Activities Balance Sheet Notes lo the Financial Statements 6 to 10 Detailed Statement of Financial Activities
THE L AND DENTAL RE ARCH TRUST REPORT OF THE TRUSTEES R THE YEAR ENDED I MARCH 2024 The Trustees presenl Iheir Report and the Financial Sialements for th¢ year ended 3 1st March 2024. OBJECTIVES AND ACTIVITIES Objectives and aims The objectives of the Trust are to prornole the relief of suffering in oral and dental diseases through research and ¢ducation. FINANCIAL REVIKW Financial position This year our income w&s £52,150 (3 1st March 2023.. £52,058). 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 lo £101,621(3 1st March 2023: £98,299). Overall, the financial year return resulted in a deficit of (£2,751) (31 March 2023: (£11,796). PrincipAI funding sources We remain very grateful to our Sponsors for their financial support, which in 2023-2024 amounted lo £48,000. Grants of £58,460 were made lo I I recipients. A previous awardee returned their gront of £4.028 as they were unable lo undertake their study, and the grants awarded total is therefore reduced to £54,433 in the Statement of Financial Activities. STRUCTURE. GOVERNANCE AND MANAGEMENT Governlng doeument The Trnst is govemed 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 SEI 9RT Trustees Professor l L Chapple Chainnan and Director Dr J Hirschfeld Secretary and TaSurer Mr K Lewis Professor A W Walls Professor P Speight Dr R Wadia Young Trustee Dr N Carter Dr J Husband Professor P Brocklehurst Dr C Verna7 Professor R Waddington Page I
THE ORAL AND DENTAL RESEAR TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED I MARCH 2024 REFERENCE AND ADMINISTRATIVE DETAII Independent Examiner B Ark FCA CTA Ark Aurora Lid Chartered Accountants & Chartered Tax Advisers The Maliings 2 Anderson Rd Beanvood Bimiingham West Midlands B66 4AR Approved by order of the board of trustees on 18 November 2024 and signed on its behalf by: Professor l L Chapple- Ttee Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ORAL AND DENTAL RESEARCH TRUST Ind¢pendent examiner's report to the trustees of The Or41 And Dent&l Research Trust I report to the charity trnslees on my examination of the accounts of The Oral And Dental Research Trust (the Trust) for the year ended 31 March 2024. Responsibilitles and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounls in accordance with Ihe requiremenls of the Charities Act 2011 ('the Act,). I report in respect of my examination of the Trust's accounts carricd 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 confim) that no material matters have come to my allenlion in wnnection with the examination giving me cause to believe that in any material respect.. accounting r¢¢ords were not kept in respect of the Tnjsl as required by Section 130 of the Act,. or the acc()un15 do not accord with those record5,' or the accounts do not comply with the applicable requirements concerning the forni and content of accounts sel out in the Charities {Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a Irue 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. TA Ark Aurora Ltd Chgrtered AOuntantS & Chartered Tax Advisers The Maltings 2 Anderson Rd Bearwood Birn)irtgham West Midlands B66 4AR 18 November 2024 Page 3
THE ORAL AND DENTAL ESEARCH TR STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 313.24 31.3.23 Tolal funds Unrestricted fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 48.000 48,000 Invc5tment income 4,150 4,058 Total 52,150 52,058 EXPENDITURE ON Raising funds 3.790 3,663 Ch#rit4ble aetlvities COST 54,433 57,705 Total 58,223 61.368 Net gain([05S¢s} on investments 3J22 (2,486) NET INCOMEI{EXPENDITURE) (2,751) (11,796) RECONCILIATION OF FUNDS Total funds brought fonvard 166,238 178,034 TOTAL FUNDS CARRIED FORWARD 163,487 166.238 The notes fom) part of these financial statements Page 4
THE ORAL AND DENTAL RE RCH TRUST BALANCE SHEET 31 MAR H 2024 31J.24 31.3.23 Total funds Unrestricted fund Notes FIXED ASSETS Investments 101,621 98,299 CURRENT ASSETS Debtors Cash at bank 15,000 115,491 15,000 136,942 130,491 151,942 CREDITORS Amounts falling due within one year (68,625) (84.003) NET CURRE]YT ASSETS 61,866 67.939 TOTAL ASSETS LESS CURRENT LIABILITIES 163,487 166.238 NET ASSETS 163,487 166,238 FUIYDS Unrestricted funds 163,487 166.238 TOTAL FUNDS 163,487 166,238 The financial statements were approved by the Board of TNstees and authorised for issue on 18 November 2024 and were signed on its behalf by: Professor l L Chapple- Trustee Professor A W Walls- Trustee The notes fom part of these financial statements Page 5
THE ORAL AND DEN RESEARCH T UST NOTES TO THE FINANCIAL STATEMENTS THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Basls of preparlng the finaneial st4tements The financial statements of the charity, which is a publi¢ benefit entity under FRS 102. have been prepared in aceordance with the Charities SORP (FRS 102) 'Accounling and Reporting by Charities- Sialemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Rcpublic of Ireland {FRS 102) {effcctive l January 2019),, Financial Reponing 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 onvention, with the exception of investments which are included al market value, as modified by the revaluation of certain assels. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement lo the funds. il is probable that the income will be reeeived 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 chartty to that expenditure, it is probable that a transfer of economic benefits will be required in setilemenl 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 awegate all cost related lo the category. Where costs cannot be directly attributed to particular headings Ihey have been allocated to activities on a basis consistent with the use of resources. Grants offered subject lo conditions which have not been met al the year end date are noted as a commitment bul not accrued as expenditure. Taxatio The charity is exempt from tax on its charitable a¢tivities. Fund 4ccounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustee5. Reslricled funds can only be used for particular restricted purposes within the objecls of the charity- Restriction5 arise when specified by the donor or when fimds are raised for particular restricted Purposes. Further explanation of the nature and purpose of each fund is included in the notes lo the financial slalements. INVESTMENT INCOME 31J.24 31.3.23 Other fixed asset invest- Fll Int¢r¢sl receivabl¢- trading 3,946 204 3,993 65 4,150 4,058 Page 6 continued...
THE ORAL AND DENTAL RE EARCH TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2 24 RAISING FUNDS Raising dongtions and legacies 31J.24 31.3.23 Support costs 3,790 3,663 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees, expenses During the year, travel expenses of £123 {2022 .. £34) were reimbursed lo trustees. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWMENTS FROM Donations and legacies 48,000 Investment income 4,058 Total 52.058 EXPENDITURE ON Raising fund5 3.663 Charitable aetivities COST 57,705 TotAI 61.368 Net gainsl(losses) on investments {2,486) NET INCOME/(EXPENDITURE) {11,796) RECONCILIATION OF FUNDS Total fund5 brought fonvard 178,034 TOTAL FUNDS CARRIED FORWARD 166,238 Page 7 continued...
THE ORAL ND DENTAL R SEARCH TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR HE YEAR ENDED 31 MAR H 2024 FIXED ASSET INVESTMENTS Listed inv&qtmenls MARKET VALUE At l April 2023 Revaluations 98,299 3J22 Ai 31 March 2024 101,621 NET BOOK VALUE At 31 March 2024 101,621 Ai 31 March 2023 98.299 There were no investment assets outside the UK. Cost or valuation al 31 March 2024 is represented by.. Listed investments Valuation in 2021 Valuation in 2022 Valuation in 2023 Valualion in 2024 Cost 19506 7,168 (2,486) 3J22 74,111 101,621 The cost of investment of £74,11 I relates lo the valuation amounl as al 31 March 2020 rather than Ihe original cost of the investment. DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 31J.24 31.3.23 Other debtors 15,000 15,000 Page 8 continued...
THE ORAL AND DENTAL RESE CH TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE EAR ENDED I MARCH 2024 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Other creditors 68,625 84.003 MOVEMENT IN FUNDS Net movcmenl in funds At 31.3.24 At 1.4.23 Unrestricted funds General fund 166,238 (2,751) 163,487 TOTAL FUNDS 166,238 (2,751) 163,487 Net movemenl in funds, included in the above are as follows: Inwming resources Resources expended Gains and losses Movement in funds Unre$trlcted funds General fund 52,150 (58,223) 3J22 (2,751) TOTAL FUNDS 52,150 (58,223) 3J22 (2,751) Compthratives for movement in funds N¢1 movement in funds At 31.3.23 Ai 1.4.22 Unrestricted funds General fund 178,034 (11,796) 166,238 TOTAL FUNDS 178,034 (11,796) 166.238 Comparative nel movement in funds. inclLEded in the above are as follows.. Incoming resour¢es Resources expended Gains and losses Movem¢nl in fund5 Unrestricted funds Generdl fund 52,058 (61,368) (2,486) (11,796) TOTAL FUNDS 52,058 (61,368) (2,486) (11.796) Page 9 continued...
THE ORAL AND DENTAL RESEARCH TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 ARCH 2024 MOVEMENT IN FUNDS- continued A C1 year 12 months and prior year 12 months combined position is &s follows: Net movement in fund5 Ai 31.3.24 At 1.4.22 Unrestricted funds General fund 178,034 (14,547) 163,487 TOTAL FUNDS 178,034 {14,547) 163,487 A cUent year 12 months and prior year 12 m(Trnihs combined nei movement in fvnds. included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General fwid 104,208 (119,591) 836 {14,547) TOTAL FUNDS 104,208 (119,591) 836 (14,547) io. RKLATED PARTY DISCLOSURES There werc no related party Iransactions for ihe year ended 31 March 2024. Page 10
THE ORAL AND DENTAL RE H TRUST DETAILED STATEMENT OF FINANCIAL ACTIVITIES THE YEAR ENDED 31 MARCH 2024 31.3.24 31.3.23 INCOME AND ENDOWMENTS Donations And legaeies Donations 48,000 48,000 Investment income Other fixed asset invest- Fll Interest receivable - trading 3,946 204 3.993 65 4,150 4.058 Total incoming resources 52,150 52.058 EXPENDITURE Charitable activities Grants 54,433 57.705 Support costs Management Administrative support Meetings Advertising 1,000 123 1,500 1.000 34 ,523 2,623 2,557 Flnance Bank charges 27 26 Governance costs Accountancy and legal fees 1.140 1,080 Total resources expended 58223 61,368 Net expendÉture (6,073) (9,310) Thi5 pagc does not form part of the statutory financial stateMtS Pagell