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|||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|
||Notes|Funds|Funds|2021|2020|
||||E||6|
|INCOME from:||||||
|Donations|2a|29,381|96,508|125,889|29,810|
|Charitable
activities|2b|119,151||119,151|75,406|
|Other trading activities|2c|877,377||877,377|1,348,688|
|Investments|2d|1,244||1,244|3,869|
|Other income|2e|8,700||8,700|575|
|Total income||1,035,853|96,508|1,132,361|1,458,348|
|EXPENDITURE on:||||||
|Raising funds|8a|214,347||214,347|309,564|
|Charitable
activities|8b|813,179|116,107|929,286|1,162,655|
|Total expenditure||1,027,526|116,107|1,143,633|1,472,219|
|Net income/(expenditure)||8,327|(19,599)|(11,272)|(13,871)|
|Transfers between funds||(21,399)|21,399|||
|Minority interests|11|(2,004)||(2,004]|23,383|
|Net movement
in funds||(15,076)|1,800|(13,276)|9,512|
|Reconciliation
offunds||||||
|Fund balances brought forward at|1April|||||
|2020||222,532|5,489|228,021|218,509|
|Fund balances carried forward||||||
|at31March 2021|17|207,456|7,289|214,745|228,021|
##
||YEAR EN|DED 31stMARC|H 2021|||
|---|---|---|---|---|---|
|||2021||2020||
||Notes|E||||
|Current Assets||||||
|Short term investments||54,789||54,222||
|Debtors|12|445,673||174,222||
|Cash at bank and in hand||438,962||650,097||
|||939,424||878,541||
|Creditors: Amounts|falling due|||||
|within one year|13|(513,638)||(538,698]||
|Net Current Assets|||425,786||339,843|
|Total Assets less Current Liabilities|||425,786||339,843|
|Provisions for liabilities for||||||
|future costs|14||(137,053)||(39,838]|
|Total Net Assets|||288,733||300,005|
|The funds ofthe charity||||||
|Restricted Funds|19||7,289||5,489|
|Unrestricted
Funds||||||
|Designated|20|755||505||
|General|20|95,748||114,081||
||||96,503||114,586|
|Funds retained within|a non-charitable|||||
|subsidiary|||110,953||107,946|
||||214,745||228,021|
|Minority interests|||73,988||71,984|
|Total charity funds|||288.733||300,005|
##
##
|||||||2021|2020|
|---|---|---|---|---|---|---|---|
|||||||E|E|
|Cash inflows /(outflows)
N t
hg
t dhy/[|from operating
dt ]
p
tt
g|||activities
tt
ttt||~222879|246,533|
|Cash flows from investing|activities|||||||
|Investment
income and interest received||||||1,744|3,912|
|Total cash flows from investing
activities||||||1,744|3,912|
|Change in cash and cash|equivalents|||||(211,135]|250,445|
|Cash and cash equivalents|at beginning|ofyear||||650,097|399,652|
|Cash and cash equivalents|atend ofyear|||||438,962|650,097|
|Reconciliation ofnet income to net||cash||flow|from|operating activities||
|||||||2021|2020|
|||||||E|E|
|Net (expenditure)/income||||||(11,272)|(13,871]|
|Adjustments
for:||||||||
|(Increase) in current asset|investments|||||(567)|(590)|
|Investment
income||||||(1,744)|(3,912)|
|(Increase) in debtors||||||(271,451]|(10,170)|
|Increase in creditors||||||72,155|275,076|
|N t
thg
t dhy/[|dt ]
p||tt|g|tt ttt|~222, 879|246,533|
|Analysis ofcash and cash equivalents||||||||
|||||||2021|2020|
|||||||E|E|
|Cash in hand||||||357,101|568,878|
|Notice deposits (less than|3 months)|||||81,861|81,219|
|Total cash and cash equivalents||||||438,962|650,097|
##
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##
|2a. Donations||||
|---|---|---|---|
||Unrestricted|Restricted|Total|
|Year to 31March 2021|Funds|Funds|2021|
|||6|E|
|Donated office facilities|29,131||29,131|
|Donations towards research projects|200|96,508|96,708|
|Gift Aid repayment
from HMRC|50||50|
|Total Donations|19,181|96588|115,889|
||Unrestricted|Restricted|Total|
|Year to 31March 2020|Funds|Funds|2020|
||E|E||
|Donated office facilities|28,560||28,560|
|Donations towards research projects||1,000|1,000|
|Giit Aid repayment
from HMRC||250|250|
|Total Donations|28,560|1,250|29,810|
|2b.Charitable activities||||
||Unrestricted|Restricted|Total|
|Year to31March 2021|Funds|Funds|2021|
||E|E||
|John Vane Memorial conference income|119,151||119,151|
|Total Charitable activities|119,151||119,151|
||Unrestricted|Restricted|Total|
|Year to31March 2020|Funds|Funds|2020|
||E|E||
|John Vane Memorial conference income|75,406||75,406|
|Total Charitable activities|75,406||75,406|
##
##
|Other trading ac|tivities||||||
|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|
|Year to 31March|2021|||Funds|Funds|2021|
|||||E|E|E|
|Research income|on Cardiovascular||diseases|636,310||636,310|
|Research income|on Inflammation||diseases|92,962||92,962|
|Research income|on other diseases|||115,000||115,000|
|Consultancy
income||||22,667||22,667|
|Medical education|management|services||10,438||10,438|
|Total Other trading activities||||877,377||877,377|
|||||Unrestricted|Restricted|Total|
|Year to 31March|2020|||Funds|Funds|2020|
|||||E|E|E|
|Research income|on Cardiovascular||diseases|836,536||836,536|
|Research income|on Inflammation||diseases|207,930||207,930|
|Research income|on Endocrine diseases|||5,652||5,652|
|Research income|on other diseases|||201,250||201,250|
|Consultancy
income||||69,317||69,317|
|Medical education|management|services||28,003||28,003|
|Total Other trading activities||||1,348,688||1,348,688|
##
|Investments||||
|---|---|---|---|
||Unrestricted|Restricted|Total|
|Year to 31March 2021|Funds|Funds|2021|
|||E|E|
|Interest on cash deposits|1,244||1,244|
|Total Investments|1,244||1,244|
||Unrestricted|Restricted|Total|
|Year to 31March 2020|Funds|Funds|2020|
||E||E|
|Interest on cash deposits|3,869||3,869|
|Total Investments|3,869||3,869|
||||Page 21|
##
##
|2e|.Other income||||||
|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|
||Year to 31March 2021|||Funds|Funds|2021|
|||||E|E|E|
||Job Retention Scheme government|grant||8,700||8,700|
||Total Other income|||8,7DO||8,700|
|||||Unrestricted|Restricted|Total|
||Year to 31March 2020|||Funds|Funds|2020|
|||||E|E|E|
||Job Retention Scheme government|grant||575||575|
||Total Other income|||575||575|
|3.|TOTAL INCOME BYGEOGRAPHICAL||MARKET||2021|2020|
||United Kingdom||||67%|58%|
||Europe||||11%|1%|
||North America||||22%|38%|
||Rest ofthe World||||0%|3%|
##
##
##
|ANALYSIS OFSTAFF COSTS|2021|2020|
|---|---|---|
||E|E|
|Salaries|102,682|141,514|
|Social security costs|2,535|6,585|
|Other pension costs|3,297|3,857|
||108,514|151,956|
##
##
||The monthly
average number ofstaff employed
during th|e period was as follo|ws:|
|---|---|---|---|
|||2021|2020|
|||number|number|
||Fundraising|||
||Support|||
|7.|MOVEMENT IN NET FUNDS FORTHE YEAR|2021|2020|
|||E|E|
||Net outgoing resources are stated after charging:|||
||Auditors'
remuneration:|||
||Audit fees|15,373|12,133|
||Other fees|2,449|695|
##
##
|||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|Year to 31March 2021||Funds|Funds|2021|
|Fundraising
and publicity||18,382||18,382|
|Administration
expenses||148,607||148,607|
|Consultancy
related costs||9,517||9,517|
|Medical education
management|services|3,137||3,137|
|Audit fees||15,373||15,373|
|Other governance
costs||19,331||19,331|
|Total Costs ofraising funds||214,341||214,347|
|||Unrestricted|Restricted|Total|
|Year to31March 2020||Funds|Funds|2020|
||||6||
|Fundraising
and publicity||55,195||55,195|
|Administration
expenses||150,301||150,301|
|Consultancy
related costs||58,783||58,783|
|Medical education
management|services|6,838||6,838|
|Audit fees||12,133||12,133|
|Other governance
costs||26,314||26,314|
|Total Costs ofraising funds||309,564||309,564|
##
##
|Charitable
|activities by f|und category||||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|
|Year to 31March 2021|||Funds|Funds|2021|
|Research on|Cardiovascular|diseases|558,564||558,564|
|Research on|Inflammation|diseases|91,340|115,407|206,747|
|Research on|other diseases||108,686||108,686|
|Conferences|and Symposia||54,589|700|55,289|
|Total Charitable activities|||813,179|116,107|929,286|
##
##
##
|Charitable
a|ctivities by fu|nd category (co|ntinued)|||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|
|Year to 31March 2020|||Funds|Funds|2020|
||||E|E|E|
|Research on|Cardiovascular|diseases|749,098|1,145|750,243|
|Research on|Inflammation|diseases|177,718||177,718|
|Research on|Endocrine diseases||1,469||1,469|
|Research on|other diseases||174,977||174,977|
|Conferences|and Symposia||58,048|200|58,248|
|Total Charitable
activities|||1,16131II|1,345|1,162,655|
|Charitable
activities by expenditure|Charitable
activities by expenditure|category||||
|---|---|---|---|---|---|
|||Direct|costs||Total|
|Year to 31March 2021||Staffcosts|Other costs|Grants costs|2021|
|||E|E|E|E|
|Research on Cardiovascular|diseases|||558,564|558,564|
|Research on Inflammation|diseases|||206,747|206,747|
|Research on other diseases||||108,686|108,686|
|Conferences
and Symposia||1,588|53,701||55,289|
|Total Charitable
activities||1,588|53,701|873,997|929,286|
|Charitable
activities by expenditure|Charitable
activities by expenditure|category||||
|---|---|---|---|---|---|
|||Direct|costs||Total|
|Year to 31March 2020||Staffcosts|Other costs|Grants costs|2020|
|||E|E|E|E|
|Research on Cardiovascular|diseases|||750,243|750,243|
|Research on Inflammation|diseases|||177,718|177,718|
|Research on Endocrine diseases||||1,469|1,469|
|Research on other diseases||||174,977|174,977|
|Conferences
and Symposia||4,304|53,744||58,048|
|Total Charitable
activities||4.304|53744|1.104407|1,163455|
##
##
##
##
|Summary ofWilliam Harvey Research Limited's results|2021|2020|
|---|---|---|
||E|E|
|Total income for the year|1,006,041|1,427,277|
|Expenditure
to third parties|(929,444)|(1,355,691)|
|Net income|76,597|71,586|
|Paid to the William Harvey Research Foundation|(71,586)|(130,043)|
|Net movement
in reserves|5,011|~58,457|
|||2021|2020|
|---|---|---|---|
||||E|
|Total assets||679,273|701,646|
|Total liabilities||(494,302)|(521,686)|
|Shareholders'|funds|184,971|179,960|
##
|12.DEBTORS|||GROUP||CHARITABLE|COMPANY|
|---|---|---|---|---|---|---|
||||2021|2020|2021|2020|
||||E|E|E||
|Trade debtors|||118,812|85,055|||
|Other taxes and social||security|38,026|11,902|6,464||
|Prepayments|||173,497|37,402|813|866|
|Accrued income|||115,338|39,863|94,271|645|
||||445,673|174,222|101,548|1,511|
|13.CREDITORS: amounts||falling|GROUP||CHARITABLE|COMPANY|
|due within one|year||2021|2020|2021|2020|
||||E|E|E|6|
|Trade creditors|||1,733|43,615|1,517|1,746|
|Other taxes and social||security costs|16,976|19,821|389|686|
|Other creditors|||32|42,704||70|
|Deferred income|||339,771|81,304|||
|Accruals|||155,126|351,254|17,430|14,510|
||||513,638|538,698|19,336|17,012|
|14.PROVISION FOR|LIABILITIES||GROUP||CHARITABLE|COMPANY|
||||2021|2020|2021|2020|
||||E|E|E|E|
|Future costs payable:|||||||
|Grant for research|expenditure||||||
|already committed|and|payable until|||||
|March 2024|||137,053|39,838|137,053|39,838|
##
|RELATED PARTY TRANSACTIONS||2021|2020|
|---|---|---|---|
|||E||
|Directors ofthe William Harvey Research|Limited|||
|Professors M.Perretti, C. Thiemermann,|B.Whittle, M.Yaqoob|||
|Consultancy
fees and honoraria||51,500|43,950|
##
||||2021|2021|2020|
|---|---|---|---|---|---|
|||||E|E|
|Parmigiani
Consulting|Ltd|||||
|John Vane Memorial conference organiser fees||||22,000|26,286|
|John Vane Memorial conference recharge ofancillary expenses||||457|214|
|The sole shareholder
and Managing||Director ofParmigiani|Consulting|Ltd, appointed by||
|the Board ofDirectors,|is the spouse|ofthe CEO ofthe William Harvey||Research|Limited.|
||||2021||2020|
|||||E|E|
|Queen Mary University|ofLondon|||||
|Research expenditure|paid to QMUL|||941,060|927,862|
|Creditor balance at 31|March|||941|29,826|
|Management
fees invoiced to QMUL||||122,190|135,004|
|Debtor balance at 31March||||41,831|18,639|
|Queen Mary University|ofLondon is|the William Harvey Research Limited's
minority||||
|shareholder
(40%).||||||
##
||Unrestricted|Restricted|Total|
|---|---|---|---|
|Year to 31March 2021|Funds|Funds|2021|
||E|E|E|
|Net current assets —excluding minority interests|207,456|7,289|214,745|
|Net assets before minority interests|207,456|7,289|214,745|
|Net current assets —minority interests|73,988||73,988|
|Net assets|281,444|7,289|288,733|
||Unrestricted|Restricted|Total|
|Year to 31March 2020|Funds|Funds|2020|
|||6|6|
|Net current assets —excluding minority interests|222,532|5,489|228,021|
|Net assets before minority interests|222,532|5,489|228,021|
|Net current assets —minority interests|71,984||71,984|
|Net assets|294,516|5,489|300,005|
##
||Unrestricted|Restricted|Total|
|---|---|---|---|
|Year to31March 2021|Funds|Funds|2021|
||E|E|E|
|Fixed asset investments|30||30|
|Net current assets|96,473|7,289|103,762|
|Net assets|96,503|7,289|103,792|
||Unrestricted|Restricted|Total|
|Year to31March 2020|Funds|Funds|2020|
||E|E|6|
|Fixed asset investments|30||30|
|Net current assets|114,556|5,489|120,045|
|Net assets|114,586|5489|120,075|
##
##
|CHARITABLE COMPANY R|ESTRICTED FU|ESTRICTED FU|NDS||||
|---|---|---|---|---|---|---|
|Year to 31March 2021|1April 2020||Income|Expenditure|Transfers|31March
2021|
|||||||E|
|inflammation
diseases|||95,000|(115,407)|21,399|1,000|
|Pharmacology
research
Conferences
and Symposia||4,175
1,314|1,500|(700)||5,675
614|
|Total restricted funds||5,409|96,500|~126,207|21.399|7289|
##
|Year to31March 2020|1April 2019|Income|Expenditure|Transfers|31March
2020|
|---|---|---|---|---|---|
||||||E|
|Cardiovascular
diseases|1,172||(1,145)|(27)||
|Pharmacology
research
Conferences
and Symposia
Total restricted funds|2,925
1,514
5,611|1,250
1,250|(200)
~2.345|~27|4,175
1,314
5,489|
##
|Year to 31March|Year to 31March|2021||1April 2020|Income|Expenditure|Transfers|31March
2021|
|---|---|---|---|---|---|---|---|---|
|||||||E|E|E|
|Designated|||||||||
|Inflammation|diseases|||||(6,000)|6,000||
|Other diseases||||||(8,685)|8,685||
|Unspecified research funds||||505|250|||755|
|Administration|fund||||29,562|(83,397)|53,835||
|Total designated||funds||505|29,812|(98,082)|68,520|755|
|General funds||||114,081|71,586||(89,919)|95,748|
|T 1 1
t|1 1|dt|d|114506|101,390|~98002|~22,399|96,503|
##
##
|Trustees' decision|s over|the|year, and contri|butions
fro|m Reserves to co|ver support co|sts for the|
|---|---|---|---|---|---|---|---|
|Year to31March|2020||1April 2019|Income|Expenditure|Transfers|31March
2020|
||||||||6|
|Designated||||||||
|Other diseases|||||23|(23)||
|Unspecified
research funds|||505||||505|
|Administration
fund||||29,823|(115,207)|85,384||
|Total designated|funds||505|29,823|(115,184)|85,361|505|
|General funds|||69,373|130,042||(85,334)|114,081|
|Ttt
1'tdd||d|69078|159,065|~225,204|27|114,586|
##