REGISTERED COMPANY NUMBER: 02361986 (England and Wales) REGISTERED CHARITY NUMBER: 801279 REPORT OF THE TRUSTEES AND FINANCIAL STATEMEwfs FOR THE YEAR ENDED 31 DECEMBER 21)23 FOR THE MYALGIC ENCEPHALOPA THY ASSOCIA TION LIMITED Astral Accountancy Scrvicc5 Limitcd 2B Marston House Cromwell Business Park Chipping Norton Oxford%hire OX7 5SR
THE MYALGIC ENCEPHALOPATHY ASSOCIATION LIMITED CONTENTS OF THE FINANCIAL STATEMENIS FOR THE YEAR ENDED 31 DECEMBER 2023 Page Report of the TThteeS Report of the Independent Auditors 9 10 Statement of Financial Activities 12 Balance Sheet 13 C&5h Flow Statement 14 Notes to the Cash Flow Slalement 15 Notes to the Financial Statements 16 10 28 Detailed Statement of Financial Activities 29 10 30
THE MYALGIC ENCEPHALOPATHY ASSOCIATION LIMITED REPORT OF THE TRUSTEE5 FOR THE YEAR ENDED 31 DECENIBER 21)23 The trustees who are also directors of the charity for the purposes of the Companies Act 2(K)6. present iheir report with the financial staiements of the charity for the year ended 31 December 20?3. The rrustees have adopted the provisions of Accounting and Reporting by Charities.. Statement ot Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicablc in thc UK and Republic of Ircland IFRS 102) (cffcctivc l January 2019). Page I
THE MYALGIC ENCEPHALOPATHY ASSOCIATION LIMITED REPORT OF THE TRUSTEE5 FOR THE YEAR ENDED 31 DECENIBER 21)23 OBJECTIVES AND ACTIVITIES Charitable Objectives The charity is established to offer relief to persons of all ages with Myalgic Encephalopathy (M.E.)IChronic Fatigue Syndrome (CFS) through the provision of InfonatiOn. to further education in all aspects of the illness. and to 5UPIX)rt research and to publish the usetul results. What we do and wh wcdoit M.E. Imyalgic encephalopathy or encephalomyelilis) is a ¢omplex muliisysiem disease with a wide range of disabling .gympiom8. The ME A%sociation is here 10 support people ihrough all Svages of their illness because we desperatrly want ¢0 see everyone get ihe help Ihey need and, through research, help to develop an effeciive rreatmeni and one day even a cure. We don'i employ an expensive 0. Instead we have an ierrific group of trllsiees who provide straiegy and management on a voluniary basis. Trustees are supponed by an eXrienced ieam of full and part lime staff who are committed (o sup]N)rting the M.E. community. We also have a large number of dedicated volunteers who help ensure ME Connect - the tele needing support or inforniation. hone hel line - is available for people Our main priorities are to provide suppor¢ reliable inforniation, a voice and representation, and funding for tal medical research. for sitive chan Trusrees alnd and rep)rt on the iMporL[ external conferences and meetings th take place. We are active members of Forward ME which is an influeniial adV(aCY group comprising chariry and political representatives. We also coniribute to the CFSIME Research CollalK)raiive {CMRC) which is made up of scieniists. clinicians and adv(Kates. The Ramqa Research Fund The ME Associaiion funds research through ihe Ramsay Research Fund (RRF) which was named after Dr Melvin Ramsay who helped bring awarcncss ot M.E. to the mcdical profcssion in 1955. Dr Ramsay also helped establish the ME Ass(Kiation and was its prcsident for a number of year5. He remained closcly involved with the ChtY until hi5 death in 1990. We spend a lot of our titne and cffort working with scicntists on new rcscarch grants bccausc funding good quality biomedical research is a key prioriiy for ihis Lhariiy. ort when it's needed We pui a loi of resource inio giving as much support io people affectrd by this dise&se as we can. We do thi.g by answering cries for help and providing exiensive infonnaiion. through phone calls head office. emails or messages via social media or ME Connect - the ielephone helpline. We have around 5,(XK) paid-up members who receive our quarterly magazine ME Esseniial. We receive funds and qup]x)rt from members and an increasing number of non-members. Support for the ME ASs(laU0 continues 10 grow. mosi often by non-tradiiional methods c.g. social Tncdia. Website and Social Media Page 2
THE MYALGIC ENCEPHALOPATHY ASSOCIATION LIMITED REPORT OF THE TRUSTEE5 FOR THE YEAR ENDED 31 DECENIBER 21)23 The ME A.9s(laI1on'S websiie and social media plarf0rn coniinue to aracI sirong numbers of visiiors wilh reach and engagement rates showing we are being effective. Public benefit In preparing these financial stateTnents and their retK>rL ihc Trustce5 confirm that they have had regard to the Charity Commission's guidance on public benetit. and that they consider the objectivcs and activitics of ihc charity have historically and continue to fall within the Scot of that guidance. Page 3
THE MYALGIC ENCEPHALOPATHY ASSOCIATION LIMITED REPORT OF THE TRUSTEE5 FOR THE YEAR ENDED 31 DECENIBER 21)23 STRA TEC.IC REPORT Achievement and performance Charitable Activitie5 2023 has been a ycar of changc at thc ME Association. Change within our staff and our Board of Trustees. This year Tony Britton, our tundraising manager. stepped down into a part tiTnc role after 20 years with us. A new full-time fundraiscr has becn appointed. Hi1Y Briars, our ME Connect Manager, is lea'ing us to spcnd hcr retirement doing thosc things shc has nei'er had time to do before. I shall mis5 hcr calm logic and the wonderful friendly voice. In placc of our rctiring truslcc5, Nicola Anson and Rick Osinan, wc welcomed Georgina Evans and Michacl Mitchell a5 associatcs. With Rick 05man, our Vicc-chairman, leaving the Board, David Allen was unanimously appoinied to ke up that role. Our chariiable work in the pasi year has been exten.sive and productive. Ils core objeciives. 10 inform, suppon and fund reqearch, continue to drive us. With leafieis and bookleis on almos( every &speci of the illness. including the practical aqpecis of living with i(, we have helped thousands of people io deal wilh MEJCFS. One of the resulLS of the Covid virus haq been Ihat many now Suffering from Long Covid have come 10 our webqite for infonnaiion on the sympioms we share with Ihai illness. Our webqite and qocial media enabled us to reach people throughout the UK and abroad. We keep pace with the latesi deiTelopments in managemenL diagnosis and treatment ihrough our social media news broadcasts and e -newsletters. We have a substantial presence on social media w'ith a first- class team answering enquiries and engaging with everyone who has affected by MFJCFS and Long Covid. Our support for people with MEICFS comes through our telephone helpline. ME Connect. our email answering service and our social media channels. ME Connect is a professionally managed information and SUPFK)rt service unique amongsi MEICFS charities. With an all-year-round service, our highly trained i'olunteers empathetically li%ien io heartbreaking %¢ories of people devasth(ed by this illness. Their role also includes signpo.sting callers 10 oiher agen¢ie¥ where help may be ai'ailable for them. This year, Long Covid 4ufferers, wilh similar symptoms 10 MEICFS. coniinued io swell numkrs conLq¢iing ME ConnecL Campaigning has always been a core part of our charity's work and we are fortunaie io have amongsi our (rusiees a Consummaie professional in this field. Martine Ainsworth-wells has led our Communicaiions Team in driving aiiention to issues that face ail of us with this illness. Thiq year we ran our biggesi ever survey called "Couni ME In" which allrncied over 7.2(M) responses. The aim was to capture ihe experiences of those people living with MEJCFS and Long Covid and use these results to be more effective in irying to improve health and social care in the monihs and years ahead. The campaion behind this resulied in 2,746.672 people seeing or listening to lis promotions. The results of the suryey will be analy5cd by an indepcndent rcscarch team and wc will publish their full report in 2024. Our research funding continued throughout the year. The charity continued to fund thc baslc running costs of thc UK MEICFS Bio- Bank at the London School of Hygienc and Tropical Mcdicinc. Wc have rccently agreed a further Iwo-year tunding of this most valuable resource. Demand from researchcr5 for its blo(NJ samplcs has steadily increascd. Oihcr research funding has bccn provided at Leice5tcr University, Oxford University, Lii'erpool. and Surrcy Univcrsities. Wc have also cnlcred a new collaboration with the Man¢he%rer Brain Bank io carry out posimortem research. The NICE Guideline for MFJCFS Still involve% the charily in much work. Some ho%pitsl Iru%LS are Siill offering management of ihe illnes8 based on GET (graded exercise therapy) and CBT (cogniiive behaviour therapy) Our Medical Advisor, Dr Charles Shepherd, wrote io many healih b(xJies during the year requiring them io updaie iheir advice and infomiation aix)ut MEICFS and achieved much succeqs. Our charity coniinue$ 10 moniior the implemeniaiion of the Guidance across health and care proiTiderq. We have also been heavily involved in the Departhieni of Health and SOCI Care consuliaiion on the fllThe of servlces for MFJCFS paiienis. Fonvard ME is an 'umbrella' groupino of several MFJCFS organisations including the ME Associaiion. We make a subsiantial contribution lo its know'ledge base. especially on the medical side. Page 4
THE MYALGIC ENCEPHALOPATHY ASSOCIATION LIMITED REPORT OF THE TRUSTEE5 FOR THE YEAR ENDED 31 DECENIBER 21)23 The chariiy's membership has held sieady despiie the ChlengIng economie ouilook. I am very grnteful to all our members for continuing their support and enabling us to continue our work. The ME Association has always adopied a cautious approach to its funding and lis Audit, Risk and Ini'esiment con]mittee meets every two months to review our income and expendiiure and budget for the future. In the past year we have continued the stratcgic rcvicw of the charity's corc objective5. We have identified who, about what and how wc need to SUPPOrt people with MFJCFS. Similar reviews havc lookcd at finding diagnostic markers. causes and treatments together with our remits to educatc and influcncc. Wc arc now moving forward to implcmcnt the stratcgy. Our quarterly magazine for members, ME Essential, is our main resource in keeping our members infornied aboui wha¢ we are doing. We al80 mail out our Medical Magazine 10 many medical professionals. containing more details of receni research findlngs in the field of MEICFS. Donaiions, appeals and legacies have shown how well our chariry is reoarded amongsi paiienis. We are overwhelmed at their generosity and their efforis to raise money through an amazing variety of events. The generosity and ingenuity that our members show in raising money for the charity is deeply moving. We are very graieful for all their help. Our staff have worked tirelessly throughout the year to enable the charity to continue with its work and the trustees wish to thank them for their dedication and sheer hard graft. I would also like to thank our trustees for giving so much of their time. Several have MEICFS. look after someone who has it or lead demanding working lives. With them. this charity has prospered. Without them. it would be lost. The coming year will be iesting bui our work for you will noi slow down. New campaigns are being prepared- research opportunilies examined. I believe iha¢ the perception of our illness is undergoing a change. The me%sage ihat MEICFS is a real. physical illnes.9 is beginning io reach those parts of Ihe medical world which had previously iurned a deaf ear WardS it. Financial review Financial position The ME Association saw iotal funds increase by £264.235 10 £3.608.810 in 2023. The Charity saw income rise by £157,324 compared with the previous year. We saw increases in donations and legacies as well as investment income due (o favourable in(eresi raies. Annual membership subscripiions make up a small bui significant contribution towards the operaiinu costs of the charity with the ditference being madc up through donations. Membership subscription income dccrcascd slightly in 2023 but is still higher than pre- pandemic Icvcls. Legacy inconic remaincd at a similar level 10 202? with the charity rccciNing Icgacics of £509,340 in thc ycar (£490,613 in 20221. Gifts from lega¢ies conrinue io be an importan¢ source of income for the ¢harily. and we are very graful to ihose who consider us. Unle85 any donation, legacy or fundraising income is expres%ly restrictrd 10 the PUryK)se of funding re9ear¢h activilies, all income is allocated to general funds. Gener&1 fund.s can be and have en applied 10 fund research in addiiion 10 reqiricied fi]nds. Overall expenditure of the chariiy increased by £122.208 compared with the prior year. with additional funds being used on our biggest ever survey 'Count me in. and increased siaff cosis. The Audii, Invesimeni and Risk Committee mei reoularly during the year 10 supwrt the Board by closely monitoring how we qpend and safeguard ihe charity's assets, improve Governance. srrengthen internal controls. and manage risk. This will support the Board in fulfilling it5 dutlcs and planning tor the future of thc chatily. Page 5
THE MYALGIC ENCEPHALOPATHY ASSOCIATION LIMITED REPORT OF THE TRUSTEE5 FOR THE YEAR ENDED 31 DECENIBER 21)23 STRA TEGIC REPORT Financial review Reserves Total funds stood at £3,608.810 at 31 DcceTnbcr 2023 The ME Association has set aside5 dcsignated rcservcs to support the continucd (klivcry of its core services for the next 12 months from annual meTnber5hip subscription which aTtKTrunt to £49).500. We also havc set up a sinking fund to prcparc for any futurc rcpair costs to ihe building should they arise. Free reserve8 at 31 December 2023 were £2.222.674 (2022= £2.496.603). Free reserves are calculated as unresrricted reserves, less designaied reserves. less the nei book N'alue of fixed assets. The Trusiees aim io hold 12 months of operaiing cosis in reseryes io deliver on membership fees paid in advance. The Trustee8 are alqo mindful of cotnmitted future costs for ihe Biobank and poteniial pressures on costs. Greater awareness of post-viral faiigue. arising frotn the prevalence of Long Covid, has increased the demand for high qualiiy and urgeni research inio these diseases. The Trusiees anticipate that there will more and n]uch larger research projects to be funded or cfrfunded going forward and have been accumulating reserves to supplement restricted funds in anticipation. The MEA holds separate funds restricted in purpose for financing research into as[C[S of Ihe cause of and development of treatment of (he disease. The charily re¢ognise% its duty to hold reserves of restricted funds io meei &¢crued Commiimenis 10 fund re%earch projecis, or ro hold such reseives in both restricied and Unsl¢le funds. in ditiOn io lis exisiing obligaiions for holding unre.siri¢ted reserves. Resiricted reserves cannoi be used for purposes other than the objectives of supporting and publishing research. In the eveni of ihe cc)mpany winding up, the ix)ard has the responsibility of disbursing the balance of any restricted funds io a UK charithble fund with purpose8 closesi 10 the objective of supporting and publishing research into Myalgic Encephalopathy. Free Reserves Free reqerves at the end of 2023 were £2,222.674 (2022= £2.496.6A)3). Unrestricted funds Unrcstrictcd funds have increased by £211,654 in 2023. Unrcstrictcd funds at 31 December 2023 amountcd to £2.830.928 in 2023 (2022.. £2.619,274). Restricted tunds Restricted tunds relate to our searCh programme named thc Ramsay Research fiTnd and increascd by £52.581. Restricted funds at 31 December 2023 amounied 10 £777.882 (2022= £725.3011. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is esiablished under a Memorandum of Association which esthblished the objecrs and powers of the charitable company and is governed by lis Articles of Association. Page 6
THE MYALGIC ENCEPHALOPATHY ASSOCIATION LIMITED REPORT OF THE TRUSTEE5 FOR THE YEAR ENDED 31 DECENIBER 21)23 STRUCTURE, GOVERNANCE AND MANAGEMENT Charity constitution The charity constitutes a limited company. limited by guarantcc, as dcfincd by thc Companic5 Act 2(K)6. Mcmbcrshi Mcmbers subscribc annually and voting right5 arc ba5cd on thc cutrency of thcir subscription. Members of the charitable company guarantee to contribute an amount not cxcccding £1 to the assets of thc charitablc company in the cvent of winding up. Recruitment and apIntMent of new tnleeS The charity is managed by elecied rrusiees. The Articles of Associaiion require thai one third of Ihe rn]siees re(ire every Iwo years but remain eligible for re-eleciion. Trustees are elecied by the members of Ihe chariiy and musi comprise of people wlth an inierest in MEICFS. Applications to become a ttwstee are advertised in both the quarterly magazine of the charity and its social network media. Reference is made that applications are welcome from all and to ethnic diversiry. There is a limit of eight trustees but the Board can co-opt up to three additional members at any time. Co-opted trustees are then put forward to the membership for election at the next annual general meeting {AGM) at which elecllons will take place. Voting takes place by either postal ballot or at the AGM. REFERENCE AND ADMINISTRATIVE DETAtts Registered Company number 02.361986 (England and Wales) Registered Charity number 801279 Registered oftfice Unit 7 Apollo Office Court Radclive Road Gawcott Buckingham Buckinghamshirc MKI8 4DF Trust(*s Mis% M Ainsworth-wells Mrq N Anson (resigned 31.5.23) MrESDale Mr R W Osman (resigned 7.1.23) Mr N H Riley Dr C B Shepherd Mr D A Allen (appointed 20.2.23) Page 7
THE MYALGIC ENCEPHALOPATHY ASSOCIATION LIMtTED REPORT OF THE TRUSTEE5 FOR THE YEAR ENDED 31 DECENIBER 21)23 REFERENCE AL¥D ADMINISTRATIVE DETAIiS Auditor5 Astral Accountancy Scryiccs Limited 2B Mst0 Housc Cromwell Business Park Chipping Norton Oxford5hire OX7 5SR STATEMENT OF TRUSTEE.S' RLSPON.SIBILITIES The trusiees (who are also the direc(ors of The M)'aigic Encephalopathy Association Limiied for the purposes of company law) are responsible for preparing Ihe Report of the Trustees and the financial staiemenis in accordance with applicable law and Uniied Kingdom Accouniing Siandards (Uniied Kinodom Generally Accepted Accollniing Practice) including Financial Reporting Standard 102 The Financial Reponing Standard applicable in the UK and Republic of Ireland" Company law requires the irustees to prepare financial siatements for each financial year which give a trne and fair view of the state of affairs of the charitable company and of ihe incotnino resources and application of resources. including the incorne and expenditure. of the charitable company for that period. In preparing ihose financial staremenis. the rrustees are required to selecr suirable accouniing policieq and ihen apply ihem ¢onsistrntly- observe the meihod% and principles in the Charity SORP- make judgemenis and esiimaies thai are re&wnable and prudent: srate wheiher applicable a¢couniing siandards have been followed. subject to any ma(eria] departures disclosed and explained in ihe financial .statemenLS; prepare ihe financial staiemenis on the going concern basis unless li is inappropriaie to presume that the charitable company will continue in business. The trustees are reswnsible for keeping proper accouniing records which disclose with reasonable accurncy ai any lime the financia] position of the charitable company and to enable them to ensure Ihat ihe financial statements comply wilh the Companies Act 2006. They are also responsible for egllardlng the assers of the chariiable company and hence for taking r&qsonable sieps for the preveniion and detection ot traud and other irrcgularities. In so far as the trustecs are awarc.. there is no relevant audit intortnation of which ihe charitablc company's auditor5 arc unaware- and the trustees have taken all steps that thcy ought to have takcn lo makc thcmsclvcs aware of any relevant audit information and to establish ihai the auditois are aware of that inforn)aiion. AUDITORS The auditor8. Astral Accouniancy Services Limited. will be prowsed for re-appointmeni ai the forthcoming Annual Genernl Meeting. stees, incorporaiing a straiegic rew)rt, approved by order of the tN)ard of trustees, as the company directors, on . and signed on the board's behalf by: Mr N I l Riliv -'I'ru,%lL Page 8
REPORT OF THE INDEPENDENT AUDrtOlLS TO THE mBERs OF THE lYALGIc ENCEPHALOPA THY ASSOCIA TION LINIITED Opinion We have audited the financial statements of The Myalgic Encephalopathy AsSlatiOn Limited (the 'charitable company,) for the year ended 31 December 2023 which comprise (he Siaiement of Financial Activities. the Balance Sheei, the Cash Flow Siatemeni and notes to the financial statements, including a summary of significant accounting policies. The financial reportinu fratnework that has been applied in their preparation is applicable law and Uniied Kingdom Accouniing Standards (United Kingdom Generally Accepted Accounting Practice). including Financial Rcporting Standard 102 Financial Reporting Standard applicablc in the UK and Republic of Ireland,. In our opinion the financial statements.. give a truc and fair view of the statc of the charilablc coJnpany's affai as at 31 DccemlKr 2023 and of its incoming resources and appli¢aiion of resources, including its income and expendiiure. for Ihe year ihen ended- have been prO[rIY prepared in ac¢ordan¢e wilh United Kingdom Generally A¢¢ep¢ed Accouniing Praciice, including Financia] Reporting Standard 102 The Financi&l Reponing Siandard applicable in the UK and Republic of Ireland.: and have been prepared in accordance with the requirements of the Companies Aci 2(M)6. Basis for opinion We conducied our audit in accordance with International Standards on Auditing {UK} (ISAS (UKI) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the chariiable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance wilh these requirements. We believe thai the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial sta¢emenis, we have concluded th the irustees, use of the going concern basis of a¢coun¢ing in the preparaiion of the financial siaiements is appropriatr. Based on the work we have perfonned. we have noi ideniified any maierial uncenainiies relating io events or conditions thai, individually or colleciively. may cL%i significani doubi on the chariiable company's abiliry 10 continue as a going concern for a peri(Ml of at leasi Iwelve months from when Ihe financial statemenis are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The trustees are responsiblc for the other informatiovt. The othcr inforJnation COTnprises the information included in the Annual Report other than the tinancial statements and our Report of the Indcpcndcnt Auditors thercon. Our opinion on thc financial statements docs not cover ihc other information and. cxccpt to the cxtcnt otherwise explicitly stated in our report. we do noi expre%s any fom) of &ssuran¢e con¢lu%ion thereon. In ¢onne¢iion wilh our audit of ihe financial SLq¢emenis. our respon%ibility 1$ 10 read the oiher infornjaiion and. in doing $0, consider wheiher ihe other informaiion is maieriaily inconsisieni wilh ihe financial siaiements or our knowledge obiained in the audii or otherwi.se appears 10 be materially missu¢ed. If we identify such maierial in¢onsi%ienLies or appareni miierial missiaEmen¢q, we are required to deiermine whether Ihis gives rise 10 a maieriai missiaiemeni in ihe financial staiemenis themselves. If, based on ihe work e have perfonned, we conclude thai Ihere is a maieriai misstaiemeni of this other infonnation. we are required io rew)rt that faci. We have nothing to report in this tEgard. Opinion5 on other matters prescribed by the Companie5 Act 21M16 In our opinion. based on the work undertaken in the course of the audit= the intormation given in the Report of the TrustCC5 for the financial ycar for which the financial statements are prepared is consistent wilh the finan¢i&l staiemenis- and the Report of the Trustees has been picpared in accordallcc with applicable Icgal rcquirements. Page 9
REPORT OF THE INDEPENDENT AUDrtOlLS TO THE mBERs OF THE lYALGIc ENCEPHALOPA THY ASSOCIA TION LINIITED Matters on which we are required to report by exception In the lighi of the knowledge and undersianding of the chariiable company and irs environmeni obtained in Ihe course of the audii, we have not identified material misstatemenis in the Rert of the Trusiees. We have nothing to rcport in rcspect of thc following matters where the CoTnpanic5 Act 2(A)6 requires US to report to you if, in our opinion.. adequate accounting records have not bccn kcpt or rcturn5 adcquatc for our audit havc not been received froTn branches not visited by us,. or the tinancial statCTnents arc not in agreement with the accounting rccords and rcturns- or certhin disclosures of trustees, remuneraiion specified by law are not made: or we have not received all ihe infomation and explanaiions we require for our audil. Responsibilities of trustees As explained more fully in the Siaiemeni of Trusiees. Responsibiliiies. the rrusiees (who are also the directors of Ihe charitable company for the purp)%es of company law} are resnsIble for the preparaiion of the financial siaiements and for being satisfied that they give a true and fair view, and for such internal control as the trustees detertnine is necessary to enable the preparation of financial statements that are free from material missiatement. wheiher due to fraud or error. In preparing the financial statements, the trustees are reswnsible for assessing the charitable company's ability to continue as a going concern. disclosing, as applicable. matters related to going concern and using ihe going concern basis of accouniing unless the trustees either intend to liquidate the charitable company or to cease operntions. or have no realistic alternative but to do so. Our responsibilities for the audit of the financial staiements Our objectives are io obiain reasonible assurance aboui whether the financial sthiemenLS as a whole are free from maierial misstatemeni. wheiher due to fraud or error, and io issue a Report of the Independeni Audiior.s ihai includes our opinion. Re&sonable assurance is a high level of assurance, bui ]% noi & guaraniee thai an audit ¢onducied in acLx)rdance with ISAS IUKI will always deteci a material mi8siatemeni when it exisis. Missiaiemenis can arise from fraud or error and are considered maieriai if, individually or in the agoregate, they could reasonably be expected (o influence the economic decisions of users taken on the basis of these financial staiemenis. A further description of our responsibilities for the audit of the financial statemenis is located on the Financial Reporting Council's website at www.frc.org.uklaudiiorsresponsibilAties. This description fonns part of our Repon of the Independeni Audiiors. Pagc 10
REPORT OF THE INDEPENDENT AUDrtOlLS TO THE MEMBERS OF THE lYALGIc ENCEPHALOPA THY ASSOCIA TION LINIITED Use ot our report Thi8 repori is made solely to the chariiable company's members. as a by. in accordance with Chapter 3 of Part 16 of Ihe Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to thetn in an auditors. report and for no oiher purpose. To the fullesi exteni periniited by law, we do not accept or assume responsibility to anyonc other than the charilablc covnpany and the charitable COTnpany's members as a body, for our audit work, for this report, or for thc opinions we have fortncd. •Jt4 Tracy Norris (Scnior Statutory Auditor) fc)r and on behalf of Astral Ac¢ounthncy Services Limited 2B Marsic)n House Cromwell Business Park Chipping Norton Oxfordqhire OX7 5SR 6 Sep(ember 2024 Pagcll
THE MYALGIC ENCEPHALOPATHY ASSOCIATION LIMITED STATE]ENT OF FINANCIAL ACTIVITIFS FOR THE YEAR ENDED 31 DECENIBER 21)23 2023 Total fund5 2022 Toial funds Unrestricted funds Restricted fund Notc5 INCONIE AND ENDOWMENTS FROM Dondtions and Icgacies 643078 181,454 825,332 718,791 Charitable activities Inforniaiion and Support Other trading aciivilies Investment income 88,742 54,131 40059 88,742 54,131 49,640 3.5,943 12,735 8,781 Total 827.610 190 1017 845 860,520 EXPENDITURE ON Charitable activities Fundraising Expense5 Inforniaiion Ind Support 9884 606,072 9,884 743,726 137,654 631,401 Total 615 956 753 610 631,401 NET INCOME 211,654 52581 264235 229,119 RECONCILIATION OF FUNDS Total funds brought forward 2,619274 725J)I 3J44575 3,115,456 TOTAL FUNDS CARRIED FORWARD 2,830,928 777,882 3,608,810 3,344,575 The notes form part of these fjnancial slaiements Pagc 12
THE MYALGIC ENCEPHALOPATHY ASSOCIATION LIMtTED BALANCE SHEET 31 DECEMBER 2023 2023 Total fund5 2022 Toial funds Unrestricted funds Restricted fund Notc5 FIXED ASSETS Tangible as5et5 14 112,754 112,754 122,671 CURRENT ASSETS Siocks Debtors Inve8iments Cash a( bank and in hand 15 16 17 8571 403520 lJ91,916 969,974 8571 403,520 2,006,445 1,195,084 10,986 806,091 1,061,717 1,440,555 614,i29 225,110 2,773,981 839,639 3,613,620 3,319,349 CREDITORS Amounts falling due wiihin one year 18 (55J107) 161,757) (117564} 197,4451 NET CURRENT ASSETS 2.718.174 3 496 056 3,221,904 TOTAL ASSETS LESS CURRENT LIABILrriLs 230,928 777,882 3,608,810 3.344,575 NET ASSETS 230,928 777,882 3,608,810 3.344,575 FUND.S Unresiricted funds Restricted funds 19 2030,928 777,882 2,619,274 725,301 TOTAL FUNDS 3,608,810 3,344,575 19.08.2024 The financial .qtatements were approved by the Board of Trnsiees and authorised for issue on ............................................. and were signed on ILS behalf by.. Mi N H Rili)'_ TtUS The notes form part of these financial statements Page 13
THE MYALGIC ENCEPHALOPATHY ASSOCIATION LIMITED CASH FLOW STA TETrIENr FOR THE YEAR ENDED 31 DECEMBER 21)23 2023 2022 Notes Cash floivs from operating activities Cash generated trom operations Interest paid 655.3 14,1961 589,455 4,493) Nei cash provided by operating activities 651707 584,962 Cash flows from investing activities Purchase of tangible fixed asseis (Increase) l Decre&8e in Tenn Deposiis Interest received (2,0901 (944,728) 49,640 {5,718) {565,242) 12.735 Nei cash used in investing aciivilies 1897,178) 1558,2251 Change in cash and cash equivalent5 in the reporting period Cash and cash equivalents at the beginning of the reporting period (245871) 26.737 1,413,818 Cash and cash equivalents at the end of the reporting period 1,195,084 1.440,555 The notes form part of these fjnancial slaiements Pagc 14
THE MYALGIC ENCEPHALOPATHY ASSOCIATION LIMITED NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECENIBER 21)23 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING AcTIvIEs 2023 2022 Net income for the reporting period las per the Statemen¢ of Financial Actii'ities) Adjustments for: tkpreciation charges Interest received Inre$r paid De¢re&8el{increasel in siocks Decrease in debiors Increasel(decrease) in creditors 264235 229,119 12,0(K) 149,640) 4,196 2,415 402571 20,120 11,434 (12,735) 4,493 117.3) 386,234 128,917) Net cash provided by operations 655,W3 589,4.55 ANALYSIS OF CHANGES tN NET FUNDS At 1.1.23 Cash flow At 31.12.23 Net cash Cash at bank and in hand IA40555 (245,471) 1,195,084 1,440555 (245,471) 1,195,084 Liquid re50urce5 tkp05it5 included in cash Curreni assei invesimenis 1,061,717 944,728 2,006,445 1,061,717 944,728 2,006,445 Total 2502272 699,257 3201,529 The notes form part of these fjnancial slaiements Pagc 15
THE MYALGIC ENCEPHALOPATHY ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENT5 FOR THE YEAR ENDED 31 DECENIBER 21)23 ACCOUNTING POLlCtES Basis of preparing the financial statements The tinancial statements of the charitable company. which 15 a public bcncfit cnlity under FRS 102, have been prepared in accordancc with the Charitles SORP (FRS 102) 'Accounting and Rcporting by Charities.. Statement of Recommcnded Practice applicable to charities prcpating their accounts in accordance with the Financial Reporting Standard applicablc in the UK and Republic of Ireland IFRS 102) (effectivc l January 2019).. Financial Rcwjrting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. and thc Companies Act 2(K)6. The financial statements have been prepared under the historiLal cosi coni'eniion. The Myalgic Encephalopathy Associaiion meeis the defini(ion of a public benefii eniiiy under FRS 102. AsqeL8 and liabilities are iniiially recognised at hisiorical cosi or transacilon value unless othenvise stsied in the relevani accounting policy. 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 amouni can be measured reliably. For legacies. entitletnent is taken as the earlier of the dale on which either: the company is aware that the probate has been granted, the estaie has been finalised and notification has been made by the executor{sl to the Trust that a distribution will be made, or when a distribuiion is received from the estaie. Receipt of a legacy. in whole or in part. is only considered probable when ihe amouni can be me&sured reliably and the company has been noiified io Ihe exe¢uior'% inteniion to make a disrribuiion. Where legacies have been noiified the company. or Ihe company i% aware of ihe granting of probaie, and (he criieria for income recognilion have noi been mei. then the legacy is ated as a coniingent as.gei and disclosed if maierial. Gifis in kind donated for disiribuiion a included at valU10n and recognised as income when they are digiributed io ihe projects. Gif(s donaied for resale are included as income when they are sold. Donaied faciliiies are included at ihe value to the company where Ihis can be quaniified and a third parry is bearing the cosi. No amounts are included in the financial statements for services donaied by volunieers. Donated services of facilities are recognised w'hen the company has conwol over the item. any conditions associated with the donated iiem have been mei, the receipt of economic benefii from the use of the company of Ihe iiem is probable and that cconomic nefit can be me&suied reliably. In accordance with Charities SORP (FRS 1021. the general voluntcer time of the Friends is not recognised and refer to the Trustees, report for more information about their contribution. On rcccipt, donated professional sctViCC5 and donatcd facilitlC5 arc rccogniscd on the basis of the value of the gift to the company which is the amount thc COTnpany would havc bccn willing io pay to obtain scrviccs or facilitses of equivalcnt cconomic benefit on thc opcn markct- a coeSPOndIng avnount is then recogniscd in expcnditurc in the period of receipt. Other income is recognised in the ni)d in which li is recovernble and io the exieni the g(M)ds have been provided or on compleiion of Ihe service. Expenditure Liabiliiies are recognised as eXpendIne as soon as there is a leoal or constsuciive obligation commiiting the charity (o that expenditure. li is pmbable thai a transfer of economic benefiis will be required in settlemeni and the amouni of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that agoregate all cost relaied io ihe caiegory. Where cosrs cannoi be directly attribuied io panicular headings Ihey have been allocated to actAvities on a basis consistent with the use of resources. Rcsourccs are expendcd in the furtherance of the charity's objcctive5. Page 16 continucd...
THE MYALGIC ENCEPHALOPATHY ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECENIBER 21)23 ACCOUNTING POLlCtES - continued Expenditure Grants payablc are charged in the year when ihc offer 15 madc cxcepi in thosc ca5cs where the offer is conditional, such grants being recogniscd as cxpcnditurc when the condition5 attaching arc fulfillcd. Grants offered subject to conditions which have not iKen met at thc year end date are noted as a commitment but not accrued as eApenditurc. Tangible fixed assets All assets costing more than £21K) are capiialised. Depreciaiion is provided at ihe following annual raies in order to write off each assei over its esiimaied useful life. Leasehold property Fixtures and fittings Computer equipment - Over 20 vears - Over 4 years - Over 4 years Stock5 Stocks are valued at the lower of cost and net realisable value. after making due allowance for obsolete and slow moving iiems. Cosi includes all direci costs and an appropriatr prow)rtion or rixed and variable overheads. Taxation The charity is exempt from corporniion thx on irs chariiable aciiviiies offered by Ihe Cortx)rntion Tax Act Part 2 of chapier 3. Accordingly there is no corwration charge in these accounts. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Rcstrictcd funds can only bc used for particular re5trictcd purwjses within thc objccts of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purpises. Further explanatson of the nature and purpose of each fund is included in thc notcs to the financial statcmentS. Operating leases Renial% under operaiing leases are chorged io the Sthiemeni of financial aciivities IncorraIlng income and expendiiure accouni on a straighi line basis over the lease temi. Pension costs gnd other post-retirement benefits The ¢hariLqble company operdtrs a defined contribuiion pension scheme. Contribuiions payable io the charitable company's pension scheme are charged 10 the S[ement of Financial Aciivities in the ri(KI io which they relate. Company statu5 The company is a company limiied by ouaraniee. The members of the company are the Truqiees named on page l. In the event of the company being wound up. the liability in respeci of the guarantee is litnited to £1 member of the company. Interes¢ receivable Page 17 continucd...
THE MYALGIC ENCEPHALOPATHY ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECENIBER 21)23 ACCOUNTING POLlCtES - continued Company statu5 Interest on funds held on dcposit is includcd when rcccivablc and the aJnounl can k mcasurcd reliably by the company; this is normally upon notification of thc inlercsl paid or payable by the Bank. Debtors Trade and oiher debiors are recognised at the setilemeni amouni afr any trade discouni offered. Prepaymenis are valued ai ihe amouni prepaid nei of any trade discounts due. Cash at Bank in hand Cash at bank in hand includes cash and short ienn highly liquid invesunenis with a short maturiiy of Ihree monihs or less from the date of acquisition or opening of the dewsit or similar accouni. Cash deposits that are not readily accessible within 3 months are classified as Term deposits. Liabilities and proTrisions Liabilities are recognised when there is an obligation ai the Balance sheet dale &s a resul( of a p&si eveni. il is probable ihai a rransfer of economic benefi¢ w'ill k required in setilemeni. and the amouni of ihe %eiilemeni can be esiimaied reliably. Liabilities are recognised ai the amouni thai the company antscipatrd il will pay io seiile the debi or ihe amount it h&$ received as advanced paymenis for ihe goods or services il musi provide. Financial instruments The company only has financial &sseis and financial liabiliiies of a kind thai qualify as b&sic financial instn]ments. Basic financial instruments are iniiially recogni.sed at rransaciion value and subsequenily measured ai their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective inieresl method. DONATIONS AND LEGACIES 2023 2022 Donations Legacies 315,992 5(19 228,178 490,613 825J32 718.791 Page 18 continucd...
THE MYALGIC ENCEPHALOPATHY ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECENIBER 21)23 OTHER TRADING ACTIvrfiES 2023 2022 Fundraising events Other incoming rcsouiccs Trading 26,574 3,770 871 4,028 31,044 35,943 INVESTMENT INCOME 2023 2022 Investtnent income 49,640 12.735 INCOME FROM CHAIUTABLE ACTIV[5 2023 2022 Activity Infortnation and Support Subscriptions 93,051 CHAIUTABLE ACTIVITIES COSTS Grant funding of aciii'ilies {scc notc 8) Dirccl Costs (sec notr 7) Support (see notc 9) Totals Fundraising ExnSeS Inforn)ation and Support 9,8&1 61MI,939 9,884 743,726 137,654 5,133 610,823 137,654 5,133 753,610 Page 19 continucd...
THE MYALGIC ENCEPHALOPATHY ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECENIBER 21)23 DIRECT COSTS OF CHARrrABLE ACTtvrrIES 2023 2022 Statf costs Equipment hire Purchases Postagc, tclcphonc and stationery Sundries Travel and subsisience Meeting cosis Printing Office expenses Repair8 and mainienance Cleaning rr Costs Irrecoverable VAT Subscriptions Training Magazine contractors Medical literature Fundraising Cosi Other ¢osis websi Costs Creative Costs Campaigns Depreciation Interest payable and similar charges 344,999 940 6,707 31,726 I00 1032 94 39,057 10,222 310 1,067 11,497 10,217 5,161 361 306,fQl ,955 5,020 34,726 ,820 1,-525 8.31 37,139 6.526 3.902 997 6.874 10.588 3.635 898 25.3¢X) 40.837 3,738 9084 3053 1,213 1.985 7J81 75,235 12,006 4,196 11,434 4.493 610023 524.449 GRANTS PAY ABLE 2023 2022 Research - Bio bank Research - Evidence B&%ed Rehabiliiaiion Academy Research - University of Leice51erl Liverpool Research - London Sch] of Hygiene 90.165 43,514 7,102 11,441 137,654 101,606 Pagc 20 continucd...
THE MYALGIC ENCEPHALOPATHY ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECENIBER 21)23 SUPPORT COSTS Governance costs Information and Support Support costs, included in the above, arc as follows.. 2023 2022 Inforniation and Support Total actsvitiCS ACcoUnnCY fees 5,133 iJ46 io. NET INCOMFJ(EXPENDITURE) Ner in¢omellexpendiiure) is sthted afier chargingl(crediling)= 2023 2022 Accountancy fees Depreciation - owned assets Equipment hire 5,133 12,007 940 5.346 11.433 .955 ii. TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December2023 nor for the year ended 31 tkccmber 2022. Trust(*s' expenses During ¢urreni year four TNstees received reimlwrsemeni ofexpenses amouniing 10 £6,254, {2022- 4 Trusiee - £3,088). Page21 continucd...
THE MYALGIC ENCEPHALOPATHY ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECENIBER 21)23 12. STAFF COSTS 2023 2022 Wages and salaries Social security COSts Other pension costs 322,460 15,685 284.510 1.S,866 6,?25 306,601 The average monthly number of employees during the year was as follows.. 2023 13 2022 12 Average Employees No employees received emoluments in excess of £60.IM)O. The Key Managemcnt Pcr50nncl of thc charity arc rcprcscntcd by thc trustces, who arc not rcmunerated. 13. COMPARA TIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - 2022 Unrestricted fund Restricted fund Total funds INCOTrIE AND ENDOWMENTS FROM Donaiions and legacies 672,190 46,601 718,791 Charitable actiTrities Infomiation and Support 93.051 93,051 Other trading activities Investtnent income 35.943 9.732 35,943 12.735 3,003 Total 810,916 49,604 860,520 EXPENDrruRE ON Charitable activities Infom)aiion and Support 526.9)4 104,407 631,401 NET CoMFJ{EXpENDrrURE) Transfers between funds 283.922 1367) 154,8031 229,119 Net movement in funds 283.555 154,436) 229,119 RECONCILIATION OF FUNDS Toial funds bioughi forward 2,335.719 779,737 3,115,456 Pagc 22 continucd...
THE MYALGIC ENCEPHALOPATHY ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECENIBER 21)23 13. COMPARATIVES FOR THE sTATET OF FINANCIAL ACTIVITtES - 2022 . continued Unrestricted Restricted fund fund Total funds TOTAL FUNDS CARRIED FORWARD 2.619,274 725,301 3,344,575 14. TANGIBLE FIXED ASSETS Fixtures t£asehold property Computer equipment fittings Totals COST At l January 2023 Additions Disposals 177,712 2,482 12,980 2,090 (W3) 193.174 2,090 (9931 At 31 December 2023 177,712 2A82 14,077 194,271 DEPRECIATION Ai l January 2023 Charoe for year Eliminated on disposal 6221M) 8,886 1014 498 6,489 2,623 (993) 70,503 12,007 (993) At.31 December 202.3 71,086 2J12 8,119 NET BOOK VALUE At 31 December 2023 106.626 170 112,754 At 31 December 2022 115.512 668 6,491 122,671 15. STOCKS 2023 2022 Siocks 8571 10.986 Page 23 continucd...
THE MYALGIC ENCEPHALOPATHY ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECENIBER 21)23 16. DEB TORS: AMOUNTS FALLING DUE TH[N ONE YEAR 2023 2022 Trade debtors Other debtors Tax recoverable Lcgacics Prcpaymcnts and accrued income 114 8,558 2,151 390.WM) 1,721 797.51K) 403520 806.091 17. CURRENT ASSET INVESTMENTS 2023 2022 Term dcposit5 2 006 445 1.061,717 18. CREDITORS: AMOUNTS FALLING DUE WllTH ONE YEAR 2023 2022 Trade creditors Social 8e¢urity and other taxes Other creditors Grant commiiments Accruals and deferred income 5053 5,183 37,221 21,757 47,550 7,749 5,270 40,874 117564 97,445 Deferred Income DefeTrcd Income at l January 2023 Resources deferred duting (he year Amounts released from previous years 38,952 37,860 138,952} Deferred Income at 31 December 2023 37,860 Dcfcrrcd incoTllC represents defcrrcd annual mcmbership 5ubscription5. Pagc 24 continucd...
THE MYALGIC ENCEPHALOPATHY ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECENIBER 21)23 19. MOVEMENT IN FUNDS Net movement in fund5 Transfers beiween funds At 31.12.23 At 1.1.23 Unrestrieted funds General Fund - Unrestrictcd Designated Fund- Sinking Fund Designaied Fund - Core Services 2,619274 211,654 (495S(M)I 5.000 4WS00 2,335,428 5,000 4905(KI 1619,274 211,654 2,830,928 Restricted funds Ramsay Research Fund 725JOI 52581 777,882 TOTAL FUNDS 3314.575 264.235 3,608,810 Net movement in funds. included in the above are as follows= IncoTniTtg rc50urce5 Rcsourccs cxpended Movement in funds Unrestricted funds General Fund - Unrestrictrd 827,610 (615,9561 211,654 Restricted funds Ramsay Research Fund 190235 {137,654) 52,581 TOTAL FUNDS 1,017,IM5 (753,610) 264,235 Pagc 25 continucd...
THE MYALGIC ENCEPHALOPATHY ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECENIBER 21)23 19. MOVEMENT IN FUNDS - eontinlled Comparatives for movement in fun(L Nct Tnoi'cmcnt in fund5 Transfers between funds At 31.12.22 At 1.1.22 Unrestricted funds General Fund - Unrestrictrd 2,3.15.719 283.922 1367) 2,619,274 Restricted funds Ramsay Research Fund 779.737 (54.8031 367 725,301 TOTAL FUNDS 3.115.456 229,119 3,344.575 Comparative net movement in funds. included in the alKJVC arc as follows= Incoming resources Resour¢es expended Movemeni in funds Unrestricted funds General Fund - Unrestricied 810.916 (526,9941 283,922 Restricted funds Ramsay Research Fut]d 49.604 (104,407) {54.8031 TOTAL FUNDS 860,520 (631,401} 229,119 Pagc 26 continucd...
THE MYALGIC ENCEPHALOPATHY ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECENIBER 21)23 19. MOVEMENT IN FUNDS - eontinlled A current year 12 months and prior year 12 months combined position is as follows.. Nct Tnoi'cmcnt in fund5 Transfers between funds At 31.12.23 At 1.1.22 Unrestricted funds General Fund - Unrestrictrd Designaied Fund- Sinking Fund Designaied Fund- Core Services 2,3.15.719 495.576 (495,867) 5,000 490,500 2,33.5,428 5,000 490,500 2,-135.719 495,576 1367) 2,880,928 Restricted funds Ramsay Research Fund 779.737 (2.222) 367 777,882 TOTAL FUNDS 3.115.456 493.354 3.608,810 A currcnt ycar 12 month5 and prior year 12 months combined nct Tnovemcnt in funds, included in the above arc as follows.. Incoming resources Resources expended Movement in fund.s Unrestricted funds General Fund - Unrestricted 1.638.526 (1.142.950} 495,576 Restricted funds Ramsay Research Fund 239.839 (242,061) (2,222} TOTAL FUNDS 1,878.365 11..385,011) 498,-3.54 Ramsay Re.sear¢h This fund reflecis funding resirictrd for use iowards medical and scieniific research inio the naiure and function of the disease processes involvcd in ME, plu5 CFS & PVFS a5 appropriatc, and into the development of potential treaimenis for Such aspecis of the disease. Page 27 continucd...
THE MYALGIC ENCEPHALOPATHY ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECENIBER 21)23 20. RELATED PARTY DISCLOSURES Within the year Constellation IX Limited. a company that David Allen is both a direclor and shareholder of. invoiced the charity £8,948 (2022= £11.810) {inc. V ATI in re5PCCt of IT support. equipTnent and sundry supplie5. Within thc year Ainsworth & Wells Limited. a company that Martinc Ainsworth-wells is both a director and shareholder of, invoiced the charity £31,2W (2022= £16.81M)) linc. V ATI in rcspcct of campaign work. All transaciions were undertaken ai ams, length. Pagc 28