Charfty r•gistration number NIC100784 NORTHERN IRELAND RHEUMATISM TRUST ANNUAL REPORT AND UNAUDrrED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
NORTHERN IRELAND RHEUMATISM TRUST LEGAL AND ADMINISTrATIVE INFORMATION DrGWht DrA Taggart Ms A QIHnn Ms H Mca(eeman DrACaims DrA Bell Dr E Ball MrRKety DrA PendSei(>n Ms J MrJn4han Charlty number NIC1784 Princip*l addr•sB Musgrdve Park Ho51 BT9 7JB Independent exOIer GMCG USBURN 40 Crescwrt BueSS Park Lisburn BT28 2GN Bankw5 Ulster Bank LitYntEd 91193 Unrwerstsy Road BT71NG
NORTHERN IRELAND RHEUMATISM TRUST CONTENTS 14ge Trustees, report Independent examinerfs report statement of finanual 8CtNiOes Notes lo the firrdncial statements 7-11
NORTHERN IRELAND RHEUMATISM TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their annu81 report and financ3al statements forthe year ended 31 December 2023. The financial statements have been prepared n accordan the accthnting PDfth set out in note I to the flnan(iaS slatements and compty with the charitvs Twst Dee¢ the Charfties Ad INcthem Ireland) 2008 and "AOunting and Repofting by Chantos: Statement of Reojmmended Practtts applicab]e to charities preparing their accounts Sn accordan with the Fmafia Reporting Standard applitsble in the UK and Republic of Ireland (FRS 11Y2} (eltedive 1 January 2019).. Objectives and activities The dlarity's obje¢As indude air aspects of educatlon and training. for al medr¢al, nursing and allied health professionals working in the fielo of rheumat disease within Nt)rthem Ireland. A¢tivrtte$ ¢arTied out by the oryantsation yjpports me¢)Ical, nursing and alted heath professionals Working in the of rheumatology in NOrttrn Irdand to attend training and educalional conferences to benchmaTk. networ galn knovAedge, skffis and expertise tn the field of theumatolo9y. The organisation also uitically revtews and funds appropriate research projects wilhin the fietd of rheumatology in Northern Ireland. The trustees have paid due regard to guidan issued by the Chariiy Comrnission in decading what activities the charity should undertake. Achièvements and perfomiance The charity contlnues to support research and education arnngst heaIlh¢a professionals YA)D are involved in Ihe car8 of patlents wth rtievmalie disease wEthln Northern Ireland. The chaTIty has been able to supportthe trafftlng of medical profesyon8ls duriig this year. through the genernus funding recefved from Novarti5 and other dlOr5. Financial review The company had net expendllure the year of £8,146 (2022-£23,541). leaving unrestr¢ed fvnds of £159,075 (2022 - £167221) and rethcted fund¥ of £9.238 (2022 - £9.238). The unrestrided funds are considered to be essenti to pmmde suffi¢ient fvnd$ lo r>)¥er any unforeseen costs may arise and fulAI legal obligions of the charfty in Ihe eventthat CUlTent leveLs of income are not maintsuied. It is the policy of the tharity that unrestrided funds have not been designated for a spwfiG use should be matntsÉn¢d at a level equivalerrt to been three and six month's expertditure. The trustees C(S1der Ihat reserves at thi level 111 en$ure thaL In the event of a signffi(xnt drop In Ojnding. Ihey will be able to COnnYe the charity's rrent acliwties while consideration Is gr¥en to ways In addrttonal fimd$ may be faised. This level Of reserves has been maintained throughoutthe year. The tnjsiees have assessed the major risks to which the charity 1$ exposed, and are satisfied that Systems are pla to mitigate exposure to the majorrtsks.
NORTHERN IRELAND RHEUMATISM TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Structure. gavemance and managemerrt The charity was estabtished by a chitable trust deed ¢)n 14 December 1991 The trustees who seNed during the year and up to the date of Signature of the financial statements were: Dr G Wrtght DrA Taggart Ms A QL5inn Ms H McKeeman OrA crn$ DrA Bell Dr E Ball Mr R Kelly DrAPendleton M$ J Monaghan Dr S Roberts (Resigned 13 Septsrnber 2023) The trustees shall elecl from among their number the foflowng Honorary offir$ in each year atthe annual . general meets'ng: chaiMn. Honorary Sectetsry and Honorary Treasurer. There 18 to be not less than three or more than trustees at any time. Trustees are appointed at the doscretion of existing trust. The trustees, rewt was approv&1 by the Boarf ofTrustee5. Ms A Quinn Trustee i•.IE).2
NORTHERN IRELAND RHEUMATISM TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NORThERN IRELAND RHEUMATISM TRUST We report to the trustees on our examination olthe financAal stslemeTrts of Northem Irelarnl Rhmat$Srn Twst (the charity) for the year ended 31 December 2023. Responsibilities and basls ol report As the charity's trustees you are reSpsINe for the preparation of the attourrts in accDrdance wtth the Charities Ad (Nothern Ireland) 2008. It is our responsbilty to- examine the aecounts under section 65 of the Charities AL (Northem Irefand) 2008: follow Ihe proCedUS laid down in the general Directions given by the Charity Commission for Northem IrelaThJ under sedion 65(9llbl of the Chathes Act and . state whether particuTrar matter5 have come to our attenlion. Basis of independent examlnerfs report have exarrined your charty a¢¢ounts as required under selknn 65 of the Charlties A¢t and our examination was carried out in aco)rdance wilh the general Directions gNen by the Charity Commission for Northern Ireland under sedion 65(9)Ibl of the ChartiiesAE r examination induded a mryew of the ac(pLFng recdS kept by the tharity and a comparison of the accounts pre5entsd vrith those reeord& 11 also induded LX)nwderatton of any unusual or dlsdosures the accounts and seeking exptanations from you a5 dority trustees o)nceming any such Matters. Our role ts to stste wthether any malerial matters have come to our attentoon giwng us cause to believe.. That accountin9 records were nol kept in accordan wih 3e(l¢cffl $3 ofthe ChaTibesAct That the a)Unts do not attoFd ith those accounting records Ththe accounts do not cwty wli h Ihe accountiry requirements ofthe Charitses Act Tt there isfurther intormation needed for a Fwper undef5tsnrfing ofthe accounts to be re8d)ed.
NORTHERN IRELAND RHEUMATISM TRUST INDEPENDENT EXAMINER'S REPORT (CONTINUED) TO THE TRUSTEES OF NORTHERN IRELAND RHEUMATISM TRUST Independent examinerfs statement We have completed our examination and have no cOnmS in respect of the matter511) to {41 listed above and. in connection with following the Directions of the Charity Commission for Northem Ireland, we have found no mattefs that require drawng to your attention. &/Lq'(< Lis6 GMCG LISBURN Century House 40 Crescent Business Park Lisbum BT28 2GN Dated.. 17 October 2024
NORTHERN IRELAND RHEUMATtSM TRUST STATEMENT OF FINANCIAL ACTivrriES INCLUDING INCOME AND EXPENDITUREAccouKr FOR THE YEAR ENDED 31 DECEMBER 2023 UnrEstricted Restrictsd . Total Unrestricted Restricted funds funds nds funds 2023 2023 2022 2022 Total 2023 2022 Income from: Oonabons and legathes Investments 27.015 2.265 27.015 2,265 316 316 Total income 29,280 29.280 316 316 Expenditure on: Charitable attivities 37.426 37,426 23.857 23.857 Total expenditu 37.426 37.426 23,857 23,857 Net expenditure and movement in funds (8.1461 (8,146) P3,541) (23.$41) Reconclllation of fund5- Fund balances at 1 January 2023 167221 9238 176.459 190.762 9.238 200.000 Fund balances at 31 December 2023 159.075 9.238 168,313 167.221 9.238 178,459 The ststement of finanual ac&vitEs indudes all gails and losses Tecognised in the year. AD Income and exPendare erive from continuing athvibes.
NORTHERN IRELAND RHEUMATISM TRUST STATEMEpif OF FINANCIAL posmoN AS AT 31 DECEMBER 2023 2023 2022 Current assets Debtors Cash at bank and In hand 174,265 183.587 Creditors: amounts faffing due hithin one year 174,620 183.587 (6.307) Net TreTht assets (T.1281 168.313 176.459 Income funds Restricted fvnds untricted fijnds 10 9.238 159.075 9,238 167.221 188.313 176,469 Ihe financial ststements were 8pprDved ty the Trustee¥. authorfsed for issue on ..li dpeir behalf ty, and signed on
NORTHERN IRELAND RHEUMATISM TRUST NOTES TO THE FINANCIAL STATEMEMrs FOR THE YEAR ENDED 31 DECEMBER 2023 Aeeounting poliel Charity infornmion Northern Ireland Rheumatism Trl r5 an Uninrporated charity registererl wlth the Charity Commission in Northem Ireland. The principal offi is Department of Rheuntsiogy. Musgr8ve Park Hospital, Stockmans Lane, Belfast. BT9 7JB. 1.1 Ac¢ounting conventtb>n The financial 5talements have lJeen prepared h accortsno vth the th8riVs constitution. the Chartkne$ Act 2011 and "Aecounting and Reportrng by Gharittes.. Stment of Reconrnended Practice applicabie to thaTftles preparing thelr accounts in accordance with the Financpl Rewrting Stsndard applicable in the UK and Repubfic of Irdand {FRS 102)- (as amended for accounting periods commencang from 1 January 2016). The charity is a Pubbc Benefft Entity as dethied l)y FRS 101 The charity has taken advantsge of the pro¥islons in the SORP for charthe$ applwng FRS 102 Upde Bulletin 1 not to prepare a Ststement of Cash Frow& The finanual statements are prepared sterfing. whic is the furtlonal trer¢cy of the charity. Monetary amounts in these financial 5tstements are roed to the nearest £ The fancial statements have been prepared under the histori¢21 cJ)st ¢onvention. The prinupal ac(xJunb"ng poliues adopted are set out below. 1.2 Golng concern At the time of approving the financl81 Staternts, Ihe trjstees have a rea$0b expÈctation that the charity has adequate resour$ to continue In operational eSten for the foreseeablE futu. Thus the tnjstees continue to adopt the going concem basss ofac¢ounting in pparing the finanual statement& 1.3 . Charitable funds Unrestricted funds are a¥aUable for use at fhe (fiscretion of the trustses in fvrtherance of thelr charrtable obi'ectrves. Restrided )knds are subject to specafic cOnrt[onS by Ifonors or grantors as to how they may be used. The puiposes and uses of the restriced fvnds are set out in the noles to the finanaal statements. 1.4 Incoming resources Income is recognised the tharity is legalty entiued to it after ary perfOrnn condilions have been met. the amounts can be measured reliabty, and11 is pyobable that income vlll be receiveLI. Cash donattons are recognised on recelpt. Other dMatx)ns are recognised t%@ the charTty has been notified of the donation. vnless perfumpnce condilK)ns require ¢Jeferral of the amounL Inme tax recoverable in relatlon to donations received under GrftAid or deets of covenant is recogntsed at the ttme of the donation. 1.5 Resources expended Expendrture is re¢ognised on an aCLla1 basls as a Itabffity is incurred. Charitable expenditrJre comprises those costs inattred by the charity in the delNery of its activit$ arjd services for its benefciaries. It indudes both costs that can be allo(3kd dirEcty to suth acteS and those costs Df an dIrect nature to support them. 1.6 Cash and cash equivalents Cash and cash equ&valents indude cash in harml, deposits held at call with banks. other short4erm liquid investments with original maturitTes of three months or less. and bank overdraft& Bank overdrafts are shown within borrowtngs in current liabi15.es.
NORTHERN IRELAND RHEUMATISM TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting poljcles (Contlnued) 1.7 Financial instruments The charity has etected to appty the provisions of Sedion 11 'Basic FinaTrrAal Instrurnents. and Se¢Xion 72 'ather financial Instnjments Issues, of FRS 102 to 015 of hs financaal inslruments. Fancial Instruments are recognised in the tharit5 balance sheet vhen the charity becomes party to the contracknal provisions of the instrurnent Flnanclal assets and rlIeS are offset, Wtth the net amounts preserrted in the financial statements. when ffie is a legalty enforJ2able rlgtrt to set off the recognised arnounts and there is an intsntion to setue on a net basis or to realise the asset and setue the fiabity sinuifaneousty. Basie fin¥neialassets Basic finanrial assets. which inc]ude debtors and ¢ash and bank balances. are measured at transaction price Triduding transadton sts and are subsequenty canred at amortÈsed cost using the effective interest n7ethod unless the aangernent constiteS a flnanc?ng transaetFon. where the transacticsn Is measured at Ihe presem value of the tstu dISltad at a market rate of interesL Flnaniial assets dassffled as receivable within one yearare not amortised. Basic finan¢Mlliabllities Basic finan0 liabilibes, including Crert$ and bank loans are inibalty recogni5ed at transaction pri unless the arrangement t>nsbtutes a finan¢ing transarbon. wthere the debt insttument is meastsred at the present value of the fuiuo payTftents discounted at a rnaet rate of inlwesL Financtral 1sabrlitie$ da$srr as payable wthin onè year are not amorti5ed. Debt w]struments are sut)5equenty canied at amthsed cos( using the effedive interest rate method. Trade crerfitors are ObgationS to pay for 9()d$ or services that have aequired in the ordinary course of operations from supplie. Amounts payabk are dassified as currerrt rtabilibes rf payrnent is due (n one year or less. tf nrt they are presented as noTrcurrent liabaibes. Trade upd1t0 a recA)gnised initity at transaction pri and subsequenty measured * amortised c05t using the effe¢tiv¢ interest rnethod. D•recognltson of fInan¢1 liawfths Finanual liabilities are dererxgnised when the thar15 corrtraL#ual ObgationS expl CK are dis¢haryed or canlled. InCe from donatlons and legaeies Unrestricted Unrestrl¢ted funds fund5 2023 2022 Oonations and grfts 27,015
NORTHERN IRELAND RHEUMATISM TRUST NOTES TO THE FINANCIAL STATEMEKrs (copmNUEDJ FOR THE YEAR ENDED 31 DECEMBER 2023 Ineome from investsnents Unrestrlcted ur1ted funds funds 2023 2022 Interest recer¥ab 2,265 316 Expenditure on tharitable aclivitses 2023 Direct costs Training Goul Stsjdy Bank Charges Accountsncy Sundry Expenses 2022 36,266 22.373 616 20 1.140 856 12 37.426 23.8YT Anatysis by lund Unreytrirted funds 37,426 23.857 Description of charflabl¢ activitses Education, training, care and research ulto theumatic and arthrik disordeTr. Trustees DurTng the year ended 31 December2023 no pants were made to trustees ofthe charfty. Taxation The is exempt from tsxatim on fts activibe5 because all its inrne is apled for charitsble pUose5. Debtors Amounts falling due wlthin one year 2023 2022 Prepayrnents and a¢XTued income
NORTHERN IRELAND RHEUMATISM TRUST NOTES TO THE FINANCIAL STATEMEprrs (copmNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 CredJtors: amounts faiNftg due vrfthln one ythr 2023 2022 Acuuals and defeed income 6,307 7.128 10 Rostrieted fvnds The restricted funds of the chaiity comprise the unexpthded balanps of donations and grants held on trust subject to speufic nditiOnS by donors as to howthvy rnty be used. Movement in fundg Balanceat thcorn•g 8ncè at 1 January 2023 rasourses 31 December 2023 Traning-AbbVie Lld Training - Roche Products TelemedÉrine-AbbVJe Ltd Training- Novartrs Investment 1,970 866 5,832 570 1.970 866 5.832 570 9.238 9.238 Tralnln -AbbVie Ltd Funding received for training ts)urse on deveh)ping skills in rN$cuJoskeletal ultrasound. Tralnln Funding retsived ft>r Vasculibs meeting whith Roche Produlls sponsod. Iclne-AbbVle Ltd Funding received for IT equipment for seif-monitoring 4¥hich wjl benefft patientsl and or the NHS by Improving technology and patient educaion. TrainFn - Novartls Investment Funding received for training coutse on developing skius in muxuloskeletal utrasound emphasis on the dlfferentiai diagnosis of muscuJoskeld pathology and the practtaj use of uftrasound in diagnosl$. treatment and monttoring ef pthnts vrilh rheumatsc dtsea8¢. 10-
NORTHERN IRELAND RHEUMATISM TRUST NOTES TO THE FINANCIAL STATEMENTS (CONllNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 11 UnrEstrictsd funds The unrestritled funds of the thaiFty cornprise the tmexpended iHlances of donations and grants whth are not subject lo specific eJJnditsons by donors and grantors Bs to how they may be used. These inctude desi9nated fvnds whith have been set aside out of unrEstri¢te4J fvnds by the hlee5 for speofic purposes. At l January 2023 Incoming resourees Resour expended At31 December 2023 General ftrnds 167.221 29,280 (37,426) 159.075 PrEViOUS year. At 1 January 20 Incoming Resources exp¢nded At31 December 2022 General funds 190,762 318 (2&85n 167.221 12 Analysis of net ass•ts between funds funds 2023 Total funds 2023 At 31 Deeember 2023: cu1 asseW(liab[tjes) 2023 159.075 9.238 168.313 159.075 9,238 168.313 Unrestricted Restricted funds funds 2022 2Q22 Total At 31 December 2022.. Cutrerrt assetsioiabilibes) 2022 167,221 9,238 176.459 167,221 9,238 176.459