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2023-03-31-accounts

Charity registration number 802862

CAMBRIDGE ARTHRITIS RESEARCH ENDEAVOUR

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

CAMBRIDGE ARTHRITIS RESEARCH ENDEAVOUR

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Professor H Gaston
Dr N Shenker
Dr F Hall
Professor A McCaskie
S Hartshorn
S Ramsay (Appointed 24 October 2022)
His Honour Christopher Hodson (Appointed 24 October 2022)
Charity number 802862
Registered office Box 194 Unit E6
Addenbrookes Hospital
Hills Road
Cambridge
CB2 0QQ
Independent examiner Mrs J Boatfield ACA
Ensors Accountants LLP
Victory House
Vision Park
Histon
Cambridge
CB24 9ZR

CAMBRIDGE ARTHRITIS RESEARCH ENDEAVOUR

CONTENTS

Page
Trustees' report 1 - 4
Statement of Trustees' responsibilities 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 17

CAMBRIDGE ARTHRITIS RESEARCH ENDEAVOUR

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2023

The Trustees present their annual report and financial statements for the year ended 31 March 2023. Cambridge Arthritis Research Endeavour is abbreviated to CARE in the report below.

The financial statements have been prepared in accordance with the accounting policies set out in note 2 to the financial statements and comply with the Charity's trust deed, the Charities Act 2011 and "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).

The Trustees have referred to the Charity Commission’s general guidance on Public Benefit when reviewing our aims and objectives and in planning the Charity's future activities and believe that the activities of the Charity clearly demonstrate a direct public benefit.

Objectives and activities

The purpose and work of CARE is primarily in the field of arthritis and relief and education concerning such conditions.

The Trustees have referred to the Charity Commission’s general guidance on Public Benefit when reviewing our aims and objectives and in planning the Charity's future activities and believe that the activities of the Charity clearly demonstrate a direct public benefit.

The Trustees believe that the Charity’s research is of huge benefit to the public. The Charity was formed by a Trust Deed dated 29 January 1990. (Charity number 802862).

Since it is essentially a medical charity, it is appropriate that most of the Trustees are medical. In setting up the charity it was recognised that it was important to have a balanced mix of Trustees. The initial mix was mainly medical with a fundraiser and a lawyer.

As Trustees have resigned and replacements needed, the broad focus has been on replacing like with like, so a medical Trustee on leaving has been replaced by an incoming medical Trustee. The Board of Trustees have felt this to be in line with the original intent of the charity. In appointing Trustees, the Board has focussed on finding Trustees, who, not only have excellent credentials, but who would also be able to make a significant contribution to the work of CARE. The Trustees intend to appoint additional trustees with legal and/or financial expertise in due course.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

Achievements and performance

CARE administrates the academic and commercial research studies conducted in the rheumatology research unit (RRU). This includes: sourcing and accepting grants and other funds to perform the research; paying salaries of the research doctors, nurses, practitioners and administrators (under the auspices of their employer, Cambridge University Hospitals NHSFT); and paying for equipment, consumables and training required to perform the research duties.

At the beginning of 2022 we were able to restart a number of research studies following the covid pandemic. The current team comprises a senior administrator, research nurse manager, four research nurses and a research nurse practitioner. CARE has also funded several research fellows (senior doctors undertaking a period of research).

The RRU team is continuing to recruit to a number of studies and has continually met the recruitment targets. Between 2022 and 2023 we successfully recruited to an interventional clinical trial of a novel biologic therapy for osteoarthritis of the knee, led by the pharmaceutical company GlaxoSmithKline (GSK). In 2023 we started recruitment to the Immune Mediated Inflammatory Disease (IMID) study, looking at patients with RA, PsA, axial spondyloarthritis, lupus (SLE), Sjogren’s syndrome, systemic sclerosis, myositis and skin psoriasis. Our hope is to better understand the genetics and biology of these diseases.

CAMBRIDGE ARTHRITIS RESEARCH ENDEAVOUR

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Dr Shenker has an interest in chronic pain syndromes and leads the clinical service for diagnosing patients with Complex Regional Pain Syndromes (CRPS) and related conditions, collaborating with other Specialist Services within Addenbrooke’s Hospital. He is Chair of the CRPS-UK Network and Registry. His research interests relate to this patient cohort and he actively recruits patients for studies in basic science (Genetics, Imaging, Neurophysiological) along with an innovative rehabilitation strategy using a Virtual Environment. Parallel to this Dr Shenker is looking at patients with active Rheumatoid Arthritis due to receive anti-TNF treatment. The study will use a 7T MRI scan to look at the brain before and after the anti-TNF therapy to investigate the improvements in general wellbeing often reported in patients with this treatment.

Dr Frances Hall has an interest in Connective Tissue Disease (CTD) and associated Interstitial Lung Disease (ILD) and ran a trial which showed that lung volumes and quality of life improved increased after treatment with an immunosuppressant, rituximab, and this treatment is now available to these patients.

Prof Andrew McCaskie is Professor of orthopaedics and directs the Versus Arthritis; Tissue Engineering and Regenerative Therapies Centre, investigating the use of stem cell therapies in joint disease. His clinical interest is lower limb, particularly hip disease in young patients. He also conducts clinical trials using cell therapy trial for knee arthritis.

Financial review

Fixed asset investments have increased in value during the year by £164,695 (2022 – £61,948) and generated spendable income of £22,044 (2022 - £24,440), which the Trustees consider to be satisfactory performance.

It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level which is adequate to meet the charity's objectives. The Charity has a reserves policy to not let these funds fall below £500K.

The results for the year are set out in the attached financial statements. At the balance sheet date the Charity had total net assets less current liabilities of £661,915 (2022 - £591,889). The Charity reserves amounted to £608,398 (2022 - £518,830).

CAMBRIDGE ARTHRITIS RESEARCH ENDEAVOUR

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

The Trustees have conducted their own review of the major risks to which the Charity is exposed and systems have been established to mitigate those risks. Procedures have been put in place to minimise both the external and internal risks and these procedures are periodically reviewed to ensure that they still meet the needs of the Charity.

The risks are largely defined as being financial and/or medical. Financially, the Charity has taken professional advice and its finances are handled by CCLA Investment Management Ltd with part of its cash invested in Units and part invested on term deposits. Overall the Charity is seeking to ensure that there is approximately five years of anticipated funding needs in its reserves (or such reserves as may be advised by the Charity Commission); the five years funding in reserves is an aspiration at the moment. Steps are being taken on the fund-raising front to enhance the level of reserves.

Medically, the Charity is exposed to risk in the following ways:

1. The CARE website

The CARE website has been reconstructed.

2. CARE Speaker and Social Meetings

These events bring together members of the Rheumatology Department and patients, with their relatives and friends. Venues selected are used regularly for conferences and present no unusual hazard. Several medical members of the team are present at these events, should medical attention be required.

3. CARE involvement in scientific research and clinical trials

All scientific research sponsored by CARE is conducted under the ethical and management policies of Cambridge University Hospitals NHS Foundation Trust (CUHNHSFT) (to whom proposals are submitted for peer review). Where CARE staff participate in clinical trials, these are normally conducted on behalf of pharmaceutical companies, or their agents, and therefore subject to the normal regulatory processes. Where CARE sponsors clinical trials directly, these are conducted under the regulations set out by CUHNHSFT, and are subject to ethical review. Insurance against adverse outcomes in any CARE-instigated clinical trial is provided through CUHNHSFT.

Structure, governance and management

The Governing document of the Charity is a Declaration of Trust dated 29 January 1990.

The address of the charity is:

Box 194 Unit E6 Addenbrookes Hospital Hills Road Cambridge Cambs CB2 0QQ

The Trustees who served during the year and up to the date of signature of the financial statements were:

Professor H Gaston Dr N Shenker Dr F Hall Professor A McCaskie Dr D Jadon (Deceased 17 November 2023) Dr N Jordan (Resigned 31 July 2022) S Hartshorn S Ramsay (Appointed 24 October 2022) His Honour Christopher Hodson (Appointed 24 October 2022)

CAMBRIDGE ARTHRITIS RESEARCH ENDEAVOUR

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Prospective and newly appointed Trustees are given a detailed understanding of the research work carried out by CARE, so that those who are invited to join are conversant with what is expected of them.

In planning for the coming year, the Trustees agree the framework in which CARE will operate and the day-to-day detail to achieve this is delegated to the staff of CARE. Should the staff wish to change the framework, then an approach is made to the Trustees to seek their authority to make the changes.

The day to day affairs of the charity are run by the Administrator.

The charity's current policy concerning the payment of trade creditors is to:

The Trustees' report was approved by the Board of Trustees.

Professor H Gaston Trustee

29 January 2024

CAMBRIDGE ARTHRITIS RESEARCH ENDEAVOUR

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2023

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

CAMBRIDGE ARTHRITIS RESEARCH ENDEAVOUR

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF CAMBRIDGE ARTHRITIS RESEARCH ENDEAVOUR

I report to the Trustees on my examination of the financial statements of Cambridge Arthritis Research Endeavour (the Charity) for the year ended 31 March 2023.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

Mrs J Boatfield ACA Ensors Accountants LLP

Victory House Vision Park Chivers Way Histon CB24 9ZR

Dated: 30 January 2024

CAMBRIDGE ARTHRITIS RESEARCH ENDEAVOUR

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and legacies
3
180,667
-
Charitable activities
4
37,096
54,901
Investments
5
22,259
-
Total income
240,022
54,901
Expenditure on:
Charitable activites
6
166,909
25,678
Net gains/(losses) on
investments
10
(32,310)
-
Net income/(expenditure)
40,803
29,223
Transfers between
funds
48,091
(48,091)
Net movement in
funds
88,894
(18,868)
Reconciliation of funds:
Fund balances at 1 April 2022
520,162
71,727
Fund balances at 31 March
2023
609,056
52,859		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
180,667
5,621
-
91,997
29,551
53,301
22,259
24,449
-
294,923
59,621
53,301
192,587
191,025
5,871
(32,310)
61,948
-
70,026
(69,456)
47,430
-
-
-
70,026
(69,456)
47,430
591,889
589,618
24,297
661,915
520,162
71,727		 Total
2022
£
5,621
82,852
24,449
112,922
196,896
61,948
(22,026)
-
(22,026)
613,915
591,889

CAMBRIDGE ARTHRITIS RESEARCH ENDEAVOUR

BALANCE SHEET

AS AT 31 MARCH 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 13 608 1,282
Investments 14 883,232 718,537
883,840 719,819
Current assets
Debtors 15 185,047 150,633
Cash at bank and in hand 127,360 95,468
312,407 246,101
Creditors: amounts falling due within
one year 16 (534,332) (374,031)
Net current liabilities (221,925) (127,930)
Total assets less current liabilities 661,915 591,889
Income funds
Restricted funds 17 52,859 71,727
Unrestricted funds
General unrestricted funds 609,006 520,112
Trustees' subscriptions 50 50
609,056 520,162
661,915 591,889

The financial statements were approved by the Trustees on 29 January 2024

Professor H Gaston

Trustee

CAMBRIDGE ARTHRITIS RESEARCH ENDEAVOUR

BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2023

1 Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2 Accounting policies

Charity information

Cambridge Arthritis Research Endeavour is a Registered Charity governed by a declaration of trust dated 29 January 1980. Its objectives are the relief of persons who are suffering from rheumatoid arthritis and related diseases and to promote and advance medical research and education concerning such disorders provided that the useful results of such research shall be published.

2.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's declaration of trust, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The Charity is a Public Benefit Entity as defined by FRS 102.

The Charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

2.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3 Charitable funds

Resources received are allocated to restricted funds according to the limitations specified on their use by the donors or other providers. Funds which can be used for general purposes of the Charity are treated as unrestricted.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

CAMBRIDGE ARTHRITIS RESEARCH ENDEAVOUR

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2 Accounting policies

(Continued)

2.4 Incoming resources

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Legacy income is recognised when the following conditions have been met: the final estate accounts have been approved, the legacy is capable of measurement and there is no reversionary interest.

Grants received for use in purchasing capital items are included as income within restricted funds and are reduced each year by an amount equivalent to depreciation of those assets.

Revenue grants are included as income on a receivable basis.

Income from drug trials is recognised only when it is certain that payment will be received and can be measured accurately.

2.5 Resources expended

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

2.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings

15% straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

2.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

2.8 Impairment of fixed assets

At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

CAMBRIDGE ARTHRITIS RESEARCH ENDEAVOUR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

2 Accounting policies

(Continued)

2.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

3 Donations and legacies

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Donations and gifts 3,808 5,621
Legacies receivable 176,859 -
180,667 5,621

CAMBRIDGE ARTHRITIS RESEARCH ENDEAVOUR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

4 Charitable activities

Grants
Drug trial income
Analysis by fund
Unrestricted funds
Restricted funds		 2023
£
54,901
37,096
91,997
37,096
54,901
91,997		 2022
£
53,301
29,551
82,852
29,551
53,301
82,852

5 Investment income

Unrestricted Unrestricted
funds funds
2023 2022
£ £
COIF 22,044 24,440
Bank interest 215 9
22,259 24,449

CAMBRIDGE ARTHRITIS RESEARCH ENDEAVOUR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

6 Expenditure on charitable activities

Charitable Charitable
activites activites
2023 2022
£ £
Direct costs
Staff costs 174,233 205,069
Depreciation and impairment 675 872
Archiving 285 262
Conferences and travel 708 -
Drug trials (15,775) (34,833)
Patient travel 256 300
Insurance 331 300
Stationery and computer supplies 2,132 658
Sundry expenses 2,310 4,370
Bank charges 125 122
Research 317 1,201
165,597 178,321
Share of support and governance costs (see note 7)
Support 16,305 12,000
Governance 10,685 6,575
192,587 196,896
Analysis by fund
Unrestricted funds 166,909 191,025
Restricted funds 25,678 5,871
192,587 196,896
Support costs allocated to activities
2023 2022
£ £
Staff costs 16,305 12,000
Governance costs 10,685 6,575
26,990 18,575
Analysed between:
Charitable activites 26,990 18,575

7 Support costs allocated to activities

CAMBRIDGE ARTHRITIS RESEARCH ENDEAVOUR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

8 Trustees

During the year, no Trustees received any remuneration (2022 - £nil), benefits in kind (2022 - £nil) or reimbursement of expenses (2022 - £nil) in relation to their role as Trustees. During the year, the charity reimbursed Cambridge University Hospitals NHS Foundation Trust for salary costs in relation to research work carried out by the following Trustees: Dr Jordan £4,680 (2022 - £13,250), Dr Jadon £11,744 (2022 - £11,084) and Dr Hall £14,002 (2022 - £13,215). During the year, no Trustees received expenses (2022 - £nil).

9 Grants payable

There were no grants payable in 2023 (2022 - £nil).

10 Gains and losses on investments

Unrestricted Unrestricted
funds funds
2023 2022
Gains/(losses) arising on: £ £
Revaluation of investments (32,310) 61,948

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

12 Employees

There were no employees during the year.

Employment costs 2023 2022
£ £
Wages and salaries recharged from Cambridge University Hospitals NHS
Foundation Trust 195,973 221,069

CAMBRIDGE ARTHRITIS RESEARCH ENDEAVOUR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

13 Tangible fixed assets

Tangible fixed assets
Fixtures and
fittings
£
Cost
At 1 April 2022 45,319
At 31 March 2023 45,319
Depreciation and impairment
At 1 April 2022 44,036
Depreciation charged in the year 675
At 31 March 2023 44,711
Carrying amount
At 31 March 2023 608
At 31 March 2022 1,282

14 Fixed asset investments

COIF Units Deposit Fund
- Capital
Deposit Fund
- Income
£
£
£
Cost or valuation
At 1 April 2022
653,521
7,023
57,993
Additions
-
-
174,961
Income retained in COIF Income Account
-
-
22,044
Unrealised gain/ (loss)
(32,310)
-
-
At 31 March 2023
621,211
7,023
254,998
Carrying amount
At 31 March 2023
621,211
7,023
254,998
At 31 March 2022
653,521
7,023
57,993
Debtors
2023
Amounts falling due within one year:
£
Trade debtors
157,524
Other debtors
656
Prepayments and accrued income
26,867
185,047		 Total
£
718,537
174,961
22,044
(32,310)
883,232
883,232
718,537
2022
£
120,071
656
29,906
150,633

15 Debtors

CAMBRIDGE ARTHRITIS RESEARCH ENDEAVOUR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

16 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2023
£
15,737
11,434
489,846
17,315
534,332		 2022
£
9,152
21,446
311,492
31,941
374,031

17 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 April Incoming Resources Transfers At 31 March
2022 resources expended 2023
£ £ £ £ £
ePROMS and ePREMS 48,091 - - (48,091) -
Spondylarthritis Academy 20,286 - (20,286) - -
Classic Study 3,350 - - - 3,350
XLH Study - 32,350 (5,392) - 26,958
PPIE Project - 2,000 - - 2,000
BSR Funding - 20,551 - - 20,551
71,727 54,901 (25,678) (48,091) 52,859
Previous year: At 1 April Incoming Resources Transfers At 31 March
2021 resources expended 2022
£ £ £ £ £
ePROMS and ePREMS 48,091 - - - 48,091
Spondylarthritis Academy (23,794) 44,080 - - 20,286
Classic Study - 3,750 (400) - 3,350
XLH Study - 5,471 (5,471) - -
24,297 53,301 (5,871) - 71,727

CAMBRIDGE ARTHRITIS RESEARCH ENDEAVOUR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

18 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April Incoming Incoming Resources Resources Transfers Gains and At 31 March
2022 resources expended losses 2023
£ £ £ £ £ £
General funds 520,112 240,022 (166,909) 48,091 (32,310) 609,006
Previous year: At 1 April Incoming Resources Transfers Gains and At 31 March
2021 resources expended losses 2022
£ £ £ £ £ £
General funds 589,568 59,621 (191,025) - 61,948 520,112
Analysis of net assets between funds
Unrestricted Restricted Total
funds funds
2023 2023 2023
£ £ £
Fund balances at 31 March 2023 are represented by:
Tangible assets 608 - 608
Investments 883,232 - 883,232
Current assets/(liabilities) (274,784) 52,859 (221,925)
609,056 52,859 661,915
Unrestricted Restricted Total
funds funds
2022 2022 2022
£ £ £
Fund balances at 31 March 2022 are represented by:
Tangible assets 1,282 - 1,282
Investments 718,537 - 718,537
Current assets/(liabilities) (199,657) 71,727 (127,930)
520,162 71,727 591,889

19 Analysis of net assets between funds