REGISTERED CHARITY NUMBER: 800952 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR THE KIDNEY FUND GBJ Financial Limited Sterling House 27 Hatchlands Road Redhill Surrey RH1 6RW
THE KIDNEY FUND CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements Detailed Statement of Financial Activities Page 1 to 2 3 4 5 6 to 11 12
THE KIDNEY FUND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. 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 OBJECTIVES AND ACTIVITIES Objectives and aims The Charity ("the Fund") is constituted by a Trust Deed and was established to build a Research Institute and to promote research into renal failure and diabetes. A two- storey purpose built laboratory block was completed in 1997 and in March 1998, Lord Rogers formally opened the South West Thames Institute for Renal Research ("the SWTIRR") which is incorporated as an independent company limited by guarantee. Money continues to be needed to fund the ongoing research of the SWTIRR and to publish useful results for the benefit of renal patients. Grants are given regularly by the Fund to SWTIRR. The promotion of research into renal failure and diabetes continues to be the key objective of the Fund. Significant activities The Fund has continued its main activity of supporting the South West Thames Institute of Renal Research (SWTIRR). During the year 2024-2025, The Kidney fund provided a core grant of £147,407 to support the work of SWTIRR, and £92,712 to the Kings College, to enable one of its students to undertake research. This research project will be undertaken over a three year period and the Kidney Fund 's contribution for this Project will be totalled over £275,000. The income from various fundraising activities contributed £37,486 compared to £32,156 raised in the year 2023-2024. The Trustees are most grateful to those who have worked hard in difficult circumstances to organise fundraising events and we value the time, energy, and efforts they have put in to raise funds for the Charity During the year, the Fund received three legacies totalling £126,116. Our thanks are due to these individuals who have remembered the Charity in their wills and to individual donors who had contributed to our funds during the year. The Board, specifically, wishes, to record its gratitude to our Treasurer, Mr Gopal Hooper who passed away In February this year. Mr Hooper had helped the Kidney Fund to maintain effective governance of its activities and assisted and advised the Board on the direction of the Fund's strategy with particular regard to ensuring the Charity's continued financial viability. Public benefit The Kidney Fund provides public benefit as a charity by: o Supporting research into the nature, causes, diagnosis and treatment of renal failure and diabetes. o Raising awareness and advancing public education in all areas relating to kidney disease. The trustees 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 Charity are carried out wholly in pursuit of its charitable aims for the public benefit. Financial position The accounts of the year show a deficit on unrestricted funds of £3,876 and total unrestricted fund carried forward at 31 March 2025 of £596,938. Restricted Funds at the year end totalled £42,261 The Trustees consider that the assets of the funds as disclosed in the financial statements are adequate to enable it to continue to fulfil its obligations. The Trustees are committed to continue to explore ways to raise additional funds to fulfil its obligations to support SWTIRR in its internationally recognised research work. Page 1
THE KIDNEY FUND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity. The Board of Trustees operated during the year with seven members. Meetings have been held on Zoom to direct, oversee and assess the administration of the charity and consider opportunities for fund raising. All trustees give of their time freely and no trustee remuneration was paid in the year. Day to day administration of the Kidney Fund is being carried out by a part time Administrator. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 800952 Principal address The Renal Unit St Helier Hospital Wrythe Lane Carshalton Surrey SM5 1AA Trustees Dr MR Bending Miss A Abena-Amoako Dr D Makanjuola C Howard N Ford G Hooper (deceased 2/2/25) C Feasby (appointed 19/2/25) CJ Moorhouse (appointed 3/7124) Independent Examiner Jonathan Hillier FCCA ACA GBJ Financial Limited Sterling House 27 Hatchlands Road Redhill Surrey RH16RW Stockbrokers JM Finn & Co 4 Coleman Street London EC2R 5TA Approved by order of the board of trustees on 22M octebe 5 2025 and signed on its behalf by: Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE KIDNEY FUND Independent examiner's report to the trustees of The 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 2025. 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 Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I 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 bodies. 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. 2. 3. 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 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. Jonathan Hillier FCCA ACA GBJ Financial Limited Sterling House 27 Hatchlands Road Redhill Surrey RH1 6RW Date: 22/10/2025 Page 3
THE KIDNEY FUND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Notes INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities Investment income Total EXPENDITURE ON Raising funds Raising donations and legacies Investment management costs Unrestricted funds 248,577 37,485 10,675 296,737 Restricted fund € : 4 5 52,035 1,410 53,445 : Charitable activities SWITTR Z Baalawy Kings College Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 147,407 92,712 293,564 (7,049) (3,876) : - 600,814 596,938 42,261 42,261 The notes form part of these financial statements Page 4 2025 Total funds € 248,577 37,485 10,675 296,737 52,035 1,410 53,445 147,407 92,712 293,564 (7,049) (3,876) 643,075 639,199 2024 Total funds € 352,821 32,159 11,397 396,377 35,458 1,375 36,833 173,715 86,041 296,589 (5,022) 94,766 548,309 643,075
THE KIDNEY FUND BALANCE SHEET 31 MARCH 2025 FIXED ASSETS Social investments CURRENT ASSETS Debtors Cash at bank and in hand Notes 8 9 Unrestricted funds 144,876 92,845 457,901 550,746 550,746 Restricted - 42,261 42,261 42,261 2025 Total funds 144,876 92,845 500,162 593,007 593,007 2024 Total funds 153,540 23,471 470,324 493,795 493,795 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES ACCRUALS AND DEFERRED INCOME 10 NET ASSETS FUNDS Unrestricted funds Restricted funds TOTAL FUNDS 11 695,622 (98,684) 596,938 42,261 - 42,261 737,883 (98,684) 639,199 596,938 42,261 639,199 647,335 (4,260) 643,075 600,814 42,261 643,075 The financial statements were approved by the Board of Trustees and authorised for issue on 22nikEütöbü.and were signed on its behalf by: 2025. dJ Moorhouse Trustee The notes form part of these financial statements Page 5
THE KIDNEY FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 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, as modified by the revaluation of certain assets. 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 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. Social investments Social investments are form of financial instrument and are initially recognised at their transactions cost and subsequently measured at fair vale at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses Statement of financial activities. Taxation The charity is exempt from tax on its charitable activities. Fund accounting trustees. Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the estricted funds can only be used for particular restricted purposes within the objects of the char estrictions arise when specified by the donor or when funds are raised for particular restrict purposes. Further explanation of the nature and purpose of each fund is included 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 2025 2. 4. OTHER TRADING ACTIVITIES Fundraising events INVESTMENT INCOME Other fixed asset invest - FlI RAISING DONATIONS AND LEGACIES Fundraising expenses Support costs 2025 37,485 2025 10,675 2024 32,159 2024 11,397 2025 9,718 42,317 52,035 2024 10,375 25,083 35,458 5. 6. 7. INVESTMENT MANAGEMENT COSTS Portfolio management 2025 E 1,410 2024 1,375 TRUSTEES' REMUNERATION AND BENEFITS There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024 Trustees' expenses There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Restricted fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities Investment income Total 352,821 32,159 11,397 396,377 : 352,821 32,159 11,397 396,377 EXPENDITURE ON Raising funds Raising donations and legacies Investment management costs 35,458 1,375 36,833 - Page 7 35,458 1,375 36,833 continued...
THE KIDNEY FUND NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted 8. Charitable activities SWITTR Z Baalawy Kings College Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD SOCIAL INVESTMENTS 172,794 86,041 295,668 (5,022) 95,687 921 921 (921) 505,127 600,814 43,182 42,261 MARKET VALUE At 1 April 2024 Additions Disposals Revaluations At 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024 Page 8 Total funds 173,715 86,041 296,589 (5,022) 94,766 548,309 643,075 Other investments € 153,540 4,099 (5,714) (7,049) 144,876 144,876 153,540 continued...
THE KIDNEY FUND NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 8. SOCIAL INVESTMENTS - continued Cost or valuation at 31 March 2025 is represented by: Valuation in 2022 Valuation in 2023 Valuation in 2024 Valuation in 2025 Cost 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors Prepayments 10. ACCRUALS AND DEFERRED INCOME Accruals and deferred income 11. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Restricted Fund TOTAL FUNDS At 1.4.24 € 600,814 42,261 643,075 Page 9 2025 92,608 237 92,845 2025 98,684 Net movement in funds (3,876) - (3,876) Other investments € 1,529 (12,444) 1,374 (7,049) 161,466 144,876 2024 23,152 319 23,471 2024 4,260 At 31.3.25 € 596,938 42,261 639,199 continued...
THE KIDNEY FUND NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 11. MOVEMENT IN FUNDS - continued Net movement in funds, included in the above are as follows: Incoming resources Unrestricted funds General fund TOTAL FUNDS 296,737 296,737 Resources expended (293,564) (293,564) Comparatives for movement in funds At 1.4.23 Unrestricted funds General fund Restricted funds Restricted Fund 505,127 43,182 TOTAL FUNDS 548,309 Comparative net movement in funds, included in the above are as follows: Incoming resources Unrestricted funds General fund Restricted funds Restricted Fund 396,377 Resources expended € (295,668) - (921) TOTAL FUNDS 396,377 (296,589) Page 10 Gains and losses € (7,049) (7,049) Net movement in funds 95,687 (921) 94,766 Gains and losses (5,022) - (5,022) Movement in funds (3,876) (3,876) At 31.3.24 600,814 42,261 643,075 Movement in funds 95,687 (921) 94,766 continued...
THE KIDNEY FUND NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 11. MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined position is as follows: At 1.4.23 Net movement in funds At 31.3.25 Unrestricted funds General fund Restricted funds Restricted Fund 505,127 91,811 596,938 43,182 (921) 42,261 TOTAL FUNDS 548,309 90,890 639,199 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming resources Resource expende Gains and losses Movement in funds Unrestricted funds General fund Restricted funds Restricted Fund 693,114 (589,232) (12,071) 91,811 - (921) - (921) TOTAL FUNDS 693,114 (590,153) (12,071) 90,890 12. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2025. Page 11
THE KIDNEY FUND DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 2025 INCOME AND ENDOWMENTS Donations and legacies Donations Legacies Other trading activities Fundraising events Investment income Other fixed asset invest - FIl Total incoming resources EXPENDITURE Raising donations and legacies Fundraising expenses Investment management costs Portfolio management Charitable activities Grants to institutions Support costs Vanagemen Administrative expense Finance Bank charges Governance costs Accountancy and legal fees Total resources expended Net income before gains and losses Realised recognised gains and losses Realised gains/(losses) on fixed asset investments Net (expenditure)/income 122,461 126,116 248,577 37,485 10,675 296,737 9,718 1,410 240,119 39,163 154 3,000 293,564 3,173 (7,049) (3,876) This page does not form part of the statutory financial statements Page 12 2024 68,035 284,786 352,821 32,159 11,397 396,377 10,375 1,375 259,756 21,994 189 2,900 296,589 99,788 (5,022) 94,766