REGISTERED CHARITY NUMBER: 800952 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR THE KIDNEY FUND GBJ LLP Sterling House 27 Hatchlands Road Redhill Surrey RH16RW
THE KIDNEY FUND CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page R8POrt of the Trustees Indopendent Examlnerfs Report statemant of Flnanclal Activities Balance Sheet Notes to the Flnancial Statsmonts 6 to 12 Dotailgd Statement of Flnancial Activities 13 to 14
THE KIDNEY FUND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provtsions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102) {effective 1 January 2019). OBJECTIVES AND ACTIVITIES Obloctlves and aims The Charity ("Ihe Fund") is constituted by a Trust Deed and was established to build a Resear¢h InstitLrte and to promot8 research into renal failure and diabetes. A storey Fxjrposè built laboratory block was completed In 1997 and in March 1998, Lord Rogers formally opened the South West Thames Institute for Renal Research c'the swfiRR") which is incorporated as an independent company limited by guarantee. Money Continues to be needed to fund the ongoing research of the swfiRR and to publish useful results for the benefit of renal patients. Grants are given regularly by the Fund to SVlRR. The promotion of research into renal failure and diabetes ontinues to be the key objective of the Fund. Slgnificant actlvltias The Fund has continued its main activty of supporting the South West Thames Institute of Renal Research (swriRRI. During the year 2023-2024, The Kidney fund provided a Core grant of £ 132,794 10 8UPPOrt the work of swfiRR, £40,000 to the Kidney Research UK and £86,041to the Kings College, to enable one of its sludents to undertake research. Thls research project will be undertaken over a three -year period and Ihe Kidney Fund 's contribution for this Project will be lotalled over £275,000. The income from various fundraising activities contributed £32,156 Compared to £52,722 raised in the year 202-2023. The Trustees ar8 most grateful to those who have worked hard in difficult circumstances to organise fundraising events and w8 value the time, energy, and efforts they have put in to raise funds for the Charfly During the year, the Fund received three legacies totalling £ 284,786. Our thanks are due to these Individuals who have remembered the Charity in their wills and to individual donors who had ¢ontrlbuted to our funds during the year. Publlc benefjt The Kidney Fund provides public bènefit as a charity by.. o Supporting research into the nature, causes, diagnosis and treatment of renal failure and dlabetes. o Raising awareness and advancing pub15c education In all areas relating to kidney disease. The truslees have Considered the Charity Commission's general guidance on public benefit and have taken it into account when reviewing The Charity's aims and objectives and in planning its future activities. The Trustees are satisfied that the aims of The Charty are carried out wholly in pursuit of its charitsble aims for the public benefit. FINANCIAL REVIEW Flnancial posltion The accounts of the year show a surplus on unrestricted funds of £95,687 and total UnStrICted fund carried forward at 31 st March 2024 of£600.814. Restricted Funds at the yearend lolalled £42,261 The Trustee5 consider that the assets of the funds as disclosed in the flnancial statements are adequate to enable it to wntinue to fulfil its obligations. The Trustees are committed to Continue to explore ways to raise additional funds to fulfil its obligations to support sIRR in its internationally recognised research work. Page 1
YHE KIDNEY FIIND REIXIRT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE. GOVERNANCEAND MANAGEMENT The diarity is contrclad by Its govemiNJ dwmenL 8 deed of InJs( constStth An unInCorpated charity. The Board of Tru8tse¥ operated during the year with srx Membe Meelings hav& boen held on Zoom to direct, oversee and assess the administrati¢)n of Iha Chartty and consider opportunllies for fuhd ralslng. 1 trustees yve of th8ir tlme freely and no trustee reMunatIOn was paid in the year. Day to day admlnlstraticn of the Kidnoy Fund Is being cathed by a part time Admirfstrator. REFERENCE AND ADMINISTRATIVE DEfAILS Reg18terod Charfty numbor 800952 Prlnclpal addres8 The Renal Unit st HelierHo$pital Wrylh8 Lano Carshaiton Surr8y SM51 Truste04 Dr M R BeTrJlng Miss A Ab8na-Amoako Dr D Mak8njuola C Howard NF G Hooper R Ford {Resigned 18104r2023) Mrs L Palomino (Resigned 2210212024> J J Ho8sain IRe8igned 24105r2023) Independent Examlner Jonathan Hilller FCCAACA GBJ LLP Slerfing House 27 Hatchlands Road Redhlll Sufrgy RH16RW stoekbYoker8 JMFinn&Co 4 Coleman Street London EC2R 5fA Approved byorderoftheboardoftJu$ieesJ..............-...-........,.. ...,..... ....and sfjgned on Its behalfty. Hoop r- Trustea Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE KIDNEY FUND Independont examlner's report to the trustees of Tho Kidney Fund I report to the charity trustees on my examination of the accounts of The Kidney Fund (the Trust) for the year ended 31 March 2024. Responslblllties and basls of report As the Charity trustees of the Tnjst you are responsible for the preparalion of the a¢¢ounts in accordance with the requirements of the Charities Act 2011 {'the Acf ). I report in respect of my examination of the Trusvs 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 Since your charity's gross in¢ome exeded £250,000 your examiner must be a member of a listed body. I can confim that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodie8. I have completed my examination. I confimi that no material matters have come to my attention In ¢onnectl¢n th the examination giving me Cause to believ8 that in any material respect: accounting recAirds were not kept in respect of the Trust as required by Seciion 130 of the AGt' or the accounts do not accord with those records,. or the accounts do not comply with the applicable requirements conoming the form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts glve a true and fair view which is not a matter conSided as part of an independent examination. I have no concems and have come across no other matters in connection wlth the examination to which attention should be drawn in this report in order to enable a proper understanding of the aGGounts to be reached. Jonathan Hillier FCCA ACA GBJ LLP Sterling House 27 Hatchlands Road Redhill Surrey RH16RW 2 October 2024 Page 3
THE KIDNEY FUND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 Total funds 2023 Tolal fund8 Unreslricted fvnds Restricted fund Notes INCOME AND ENDOWMENTS FROM Donations and legacigs 352,821 352,821 416,328 Charitable activities Fundraising (10,375 {10,375) {16,486) other trading a¢tivllle$ Investment income 32,159 11,397 32,159 11,397 52,722 7,085 Total 386,002 386,002 459,649 EXPENDITURE ON Raising fund8 Raising donations and legacies Investment management costs 25,083 1,375 25,083 1,375 18,625 1,283 26,458 26,458 19,908 ¢harltable a1VItIeS SWITTR 172,794 86,041 921 Z Baalawy Kings College 173,715 86.041 108.000 Totsl 285,293 921 286,214 127,908 Net gainsl{lossesl on Investrnents (5,022 (5,022 {12,444) NET INCOMEI(EXPENDITURE) 95,687 1921) 94,766 319.297 RECONCILIATION OF FUNDS Total funds brought forward 505,127 43,182 648,309 229,012 TOTAL FUNDS CARRIED FORWARD 600,814 42.261 643,075 548,309 The notes fomi part of these financial statements Page 4
THE KIDNEY FUND BALANCE SHEEr 31 MARCH 2024 2024 Total funds Unrestric funds 2023 Total funds Restricied fund FIXED ASSETS Soclal Investments Notes 153,540 153,540 160,234 CURRENT ASSETS Debtors Cash at bank ond In hand 23,471 428,063 23.471 470.324 279 391,706 42,261 451.534 42,261 493,795 391,98S CREE)ITORS Amounts falllng due wlthin one year 10 (1,110) NET CURRENf ASSETS 451,534 42,261 493,795 390.875 TOTAL ASSEfs LESS CURRENT LIABILITIES 605,074 42,261 647,335 551.109 ACCRUALS AND DEFERRED INCOME 12 (4,260) (4,2801 (2,800) NET ASSETS 600,814 42,261 643,075 548.309 FUNDS Unreslricted funds R8strict8d funds 13 600,814 42.261 505,127 43,182 TOTAL FUNDS 643,075 548.309 The fln8ncial statements were approved by the Board of TNste88 and authorlsed for issu8 on I41.L.TljA.*.... &A..... and were Signed on Sts behalf by.. oper- Truste8 Th6 notas fonn part of th8Be financial statements Page 5
THE KIDNEY FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Basis of proparing 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 IFRS 102) 'Accounling and Reporting by Charit18S= Statement of Recommended Practice applicable to ¢hariÉies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland {FRS 102) (effective 1 January 2019),. Financial Reporting Stsndard 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 histori1 cost convention, as modified by the revaluation of certain ass&ts. Incom8 All income Is recognised In the Statement of Financial Adivities once the charity has entitlement to the funds, it 1$ probable that the incvme will be reiVed and the amount can be m8asured reliably. Expendlture Liabilities are recognised as expenditure as soon as there is a legal or ¢onstnJctive obligation committing the charity to that expenditure, it is probable that a transf8r 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 headSngs 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 basls consistent with the use of resources. Grants offered subject to conditions which have not been met at th8 year end date are noted as ¢ommitrnent but not accrued as expenditure. Social Invesbnonts Social investments are form of finandal instrument and are initially reeognised at their transactions cost and subsequently measured at fair vale at the Balantt Sheet date, unless the value cannot be measured reliably in which case il is measured at cost less impairment. Investmènt gain8 and losses. whether realised or unreallsed, a combined and presented as 'Gainsl(Losses) on Investments. In the Statement of financial activities. Taxation The charity is exempt from tax on hts charitable actlvilies. Fund accounting Unrestricted fvnds can be used In accordance with the chadtable oblectlves at the dlscretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects ot 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 induded in the notes to the financial statements. Page 6 Continued...
THE KIDNEY FUND NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 OTHER TRADING ACTIVITIES 2024 2023 Fundraising events 32,159 52.722 INVESTMENT INCOME 2024 2023 Other fixed asset invest- Fll 11,397 7,085 RAISING DONATIONS AND LEGACIES 2024 2023 Support costs 25,083 18,625 INVESTMENT MANAGEMENT COSTS 2024 2023 Portfollo management 1,375 1,283 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. exponses There were no trustees, expenses paid for th8 year ended 31 March 2024 nor for the year ended 31 March 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestrict8d funds Restricted fund Total funds INCOME AND ENDOWMENTS FROM Donation8 and legacies 394,328 22,000 416,328 Charitable actlvltlas Fundraising (16,486) (16,486) Other Irading activities Investment income 52,722 7,085 52,722 7,085 Totsl 437,649 22.000 459,649 EXPENDITURE ON Raising funds Page 7 contfftued...
THE KIDNEY FUND NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted funds fund Total funds Raising donations and legacies Investment management costs 18,625 1,283 18,625 1,283 19,908 19,908 Charltable activltles SWITTR 108.000 108,000 Total 127,908 127,908 Net gain81(losses) on investments <12,444) (12,444) NET INCOME 297,297 22,000 319,297 RECONCILIATION OF FUNDS Total funds brought forward 207,830 21,182 229,012 TOTAL FUNDS CARRIED FORWARD 505,127 43,182 548,309 SOCIAL INVESTMENTS Other Inveslments MARKET VALUE At 1 April 2023 Additions Disposals Revaluations 160,234 9,989 {11,661) <5,022) At 31 March 2024 153,540 NET BOOK VALUE At 31 March 2024 153,540 At 31 March 2023 160,234 Page 8 continued...
THE KIDNEY FUND NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 SOCIAL INVESTMENTS- continued Cost or valuation at 31 Mah 2024 is represented by: Other investment Valuation in 2022 Valuation in 2023 Valuation in 2024 Cost 1,529 (12N44} 1,374 163.08 153,540 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 other debtors Prepayments 23,152 319 279 23,471 279 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Bank loans and overdrafts (see note 11) Other creditors 70 1,040 1,110 11. LOANS An analysis of the maturity of loans is given below.. 2024 2023 Amounts falllng due within one year on demand: Bank overdrafts 70 Page 9 continued..
THE KIDNEY FUND NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 12. ACCRUALS AND DEFERRED INCOME 2024 2023 Accruals and def6rred income 4,260 2,800 13. MOVEMENT IN FUNDS Net movement in funds At 31.3.24 At 1.4.23 Unrèstrlcted funds General fund 505,127 95,687 600,814 Restricted funds Reslricled Fund 43,182 (921) 42,261 TOTAL FUNDS 548,309 94.766 643,075 Net movement In funds, Included in the abov8 are as follows.. Incoming resources Resources expended Galns and Iossgs Movement in funds Unrestrlcted funds General fvnd 386,002 1285,293 (5,022) 95,687 Restrlctsd funds Restrict8d Fund {921 (921 TOTAL FUNDS 386,002 1286,214) (5,022) 94,766 Comparatives for movement In fund8 Net movement In funds At 31.3.23 At 1.4.22 Unrestrlcted funds General fund 207,830 297,297 505,127 Rostrlcted funds Reslricted Fund . 21,182 22,000 43,182 TOTAL FUNDS 229.012 319,297 548,309 Page 10 ¢ontinued...
THE KIDNEY FUND NOTES TO THE FINANCIAL STATEMENTS- continuod FOR THE YEAR ENDED 31 MARCH 2024 13. MOVEMENT IN FUNDS- conunued Comparative net movement in funds, Included in the above are as follows: Incoming resources Resources expended Gains and losses Movement in fvnds Unrestricted funds General fund 437,649 <127,908) (12,444) 297,297 Restrlctsd funds Restricted Fund 22,000 22.000 TOTAL FUNDS 459,649 (127,9081 (12.444) 319,297 A current year 12 months and prlor year 12 months combined posltlon Is as follows: Net movement in funds At 31.3.24 At 1.4.22 Unr•stricted funds General fund 207.830 392,984 800,814 Restrfcted funds R6Stricted Fund 21,182 21,079 42,281 TOTAL FUNDS 229,012 414,063 843,075 A current year 12 months and prior year 12 months comblned net movement in funds, induded in the above are as follow$: InmIng sources Resources expended Gains and losses Movement in fvnds Unrestricted fund8 General fund 823,651 (413,201) (17,466) 392.984 Rastrictsd funds Restricted Fund 22.000 {921) 21.079 TOTAL FUNDS 845.651 (414,1221 {17,466) 414,063 Page11 continued...
THE KIDNEY FUND NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 14. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2024. Page 12
THE KIDNEY FUND DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 INCOME AND ENDOWMENTS Donations and legacies Donations Legacies 68,035 284,786 53,648 362,680 352,821 416,328 Other trading activltle8 Fundraising events 32,159 52,722 Investmgnt income other fixed asset invest - Fll 11,397 7,085 Charitabl8 actlvities Fundraising Exps 110,3751 (16,4861 Total incomlng resources 386,002 459.649 EXPENDITURE Investment management costs Portfolio management 1,375 1,283 Charltsblo activltles Grants to institutions 259,766 108,000 Support ¢osts Management Administrative @xpenses 21,994 15.658 Flnance Bank charges 189 167 Governance costs Accountancy and legal fees 2,900 2.800 Total resources expended 286.214 127,908 Net Incom8 before galns and losses 99.788 331,741 Realised recognlsed gains and losses Carried forward 96,888 328,941 This page does not form part of the statutory financial statements Page13
THE DNEy FUND DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 P4lARCH 2024 2024 2023 Realised recognlsed gains and losses Brought forward Realised gains/{losses) on fixed asset investments 96,888 328,941 {5.022 (12,444> Net Incom8 94.766 319,297 This page does not fomi part of the ststutory financial statemenis Page 14