Northern Ireland Kidney Research Fund Limited Company limited by guarantee Trustee, report Year ended S April 2023 Trustees. report for the year ended Slh April 2023 The Trustees. who are also the Directors of the Company under the provisions of the Companies Act 2006, present their annual report and the audited financial statements for the year ended 5 April 2023. The Trustees have adopted the provisions of the Companies Act 2006 and the Statement of Recommended Practice {SORP) "Accounting and Reporting by Charities. FRS 102 in preparing the annual report and audited financial statements of the Charity. Needs changed Reference and administrative detsils of the charity Detsils of this information are included in page 1. Structure. Governance and Management The Board of Trustees (who are also the Directors of the charitable company for the putposes of charity law) under the provisions of the Companies Act 2006 have pleasure in presenting their annual report and the audited financial statements of the year ended 5th April 2023. The Trustees have adopted the accounting policies and comply with the Charity's Articles ofAssociation, applicable law and Reporting by Charities.. Statement of Recommended Practice which applies to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK. The Northem Ireland Kidney Research Fund Ltd (NIKRF) is a charitable company limited by guarantee. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up each member may be required to contribute an amount not exceeding £1. The charity is controlled by the Trustee Board which at present is made up of six members. The Trustee board met 6 times in the past year. They make all the strategic and day to day decisions regarding the day to day running of the charity, maintaining c105e links with their medical advisors and researchers. NIKRF met wilh its 'family and friends, 5 times last year with prominent speakers at each meeting. Trustees, Responsibilities The Trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practices.) Company law and the law applicable to charities in Northern Ireland require the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and appliGation of resources for that period. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with Companies Act 2006. The Trustees 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. The Trustee Board received remuneration of Nil Page2 Northern Ireland Kidney Research Fund Limited Company limited by guarantee Trustee, Trport Year ended 5 April 2023 The Charity undertook a review of the Articles of Association which will be published in next years report. Training will also take place for all trustees and policie5 will be drawn up to ensure that the Charity is kept up to date with legal and recommended guidelines. Objectives and Activities: As the world began to recover from COVID19 we began to embrace the chance to fundraise again and engaged the services of a solicitor to review our Constitution. We were finally able to celebrate our 50th anniversary. The Charity's Objectives are: to raise funds to support and promote research into the cause, prevention and possible cure for kidney disease., to provide specialised equipment for research and adVan￿S in the treatment of kidney disease available from the National Health Service- to increase public awareness of kidney disease, its causes, prevention and modern treatment including transplantation to actively promote and support organ donation-, and such other charitable purposes as the Trustees in their absolLrte discretion may decide from time to time. to increase profile of the charity We are totally committed to our core mission of raising money for kidney research and are the only charity in Northem Ireland to focus solely on this. This is done by supporting clinicians and scientists researching causes, prevention and treatment of kidney disease. The charity remained buoyant throughout the year as we recovered from the effects of Covid. Research The NIKRF supports a wide variety of research projects that explore why persons develop kidney failure and assess the best forms of treatment for these kidney conditions. Research has played a vital role in developing the best evidence for current care of patients with kidney disease. Our medical advisors and scientist recommend and oversee these projects. Whilst completing these research projects trainee doctors and scientists gain an immense amount of practical experience. Other avenues are always explored first before requesting our funding to ensure best possible use is made of our funds. Research can contribute to innovation in clinical practice and higher standards of patient care. In the year 2022-2023 NIKRF supported research areas: Diabetic kidney disease Factors influencing the long-temi success of renal transplantation Increased risk for heart disease in persons with chronic kidney disease Safer ways of prescribing intravenous fluids Reasons for rapid weight loss in dialysis patients Chronic kidney disease and blood vessel changes in the eye Genetic risks for kidney disease Acute kidney injury Covid-19 Renal Study Renal Cachexia International mapping exercise on arts based therapies for persons with kidney disease Page 3 Northern Ireland Kidney Research Fund Limited Company limited by guarantee Trustee. report Year ended 5 Aprll 2023 The result of thi5 research is published world-wide, with papers acknowledging NIKRF funding being presented at scientific society meetings. Activities The fund has had a very busy year with the rebranding together with social media and web site having a positive effect on the charity. We were particularly delighted to purchase our first branded gazebo to be used at events together with a mascot of a kidney cow and photo stand. There were many fundraising activities together with outreach in order to increase funds and raise our profile. Some activities were as follows- Visits to all renal units in Nl Civic Reception hosted by Armagh, Banbridge and Craigavon Council Attendance at the British Transplantstion Congress in Belfast Nominated for Bar Charity of the Year Talk given at Beifast Rotary Club Early Day Motion at Houses of Parliament by MLA Carla Lockhart Attendance at Conference for Charity Trustees Attendance by Ballymoneylcoleraine group in the mayorfs parlour, Coleraine in recognition of charity work Helping Davy Boyle in his 1000 mile walk with 500kn of proceeds given to NIKRF Outreach at Balmoral Show 50 year exhibition of the work of NIKRF at the Belfast City Hospital Outreach at Queens Student Union for World Kidney Day Taking part in the Nl Science Festival Other notable activities were.. Participation of 14 relay teams running in the Belfast Marathon and 9 walkers Thanksgiving Service for 50 years of NIKRF in remembrance, hope and gratitiude. Launch of our Ambassador Paul Mclntyre MBE at Canapes at Colemans Biggest attendance at the Waringstown Vintage Cavalcade Garden festivals hosted by our member Mrs Meta Page Outreach at the Royal Belfast Hospital for Sick Children wrth sports presenter and kidney recipient Stephen Watson We strengthen our collaboration with the Renal Arts Group, H&1 Lab, Royal Research Lab and renal units throughout Nl. Discussions have been ongoing with local charity Leukemia Lymphoma Nl and also the Queens Foundation. Notable fundraising events were many and we worked closely with, Gallaghers, St Treas GFC, Instonians Cricket Club, Mr and Mrs Ferguson fundraiser, St Patricks Church, Drumbeg. Derriaghy Cricket Club, Iron Horse Motor Cycle Club, Belmont Bowling Club, Sunflower Woods, Sit OLrts, Coffee Mornings, Dungannon Golf Club, Kerrie O'sullivan to name but a few. Achievements and Perforniance Page4 Northern Ireland Kidney Research Fund Limited Company limited by guarantee Trustee, report Year ended 5 Aprll 2023 NIKRF are delighted with the progress we have made throughout the year. We launched a new volunteer leaflet. New Initiatives A Rising Star Award - The Dr Jennifer Mccaughan Bursary will allow a person to submit a high quality research project at a prestigious conference. The Janet Greeves Legacy will allow us to sponsor keynote speakers at Nl conferences, training grants and a yearly prestigious fellowship. Thus supporting and strengthening renal serVI￿S here in Nl. We sponsored the winner of '6 of the best, at the BTS Congress Website and Social Media This has had a positive impact on the charity. It has been used as our means of advertising. The aim of this was to improve user quality experience and reach out to a younger audience. The priorities achieved: Younger engagement Easy access for contacting us Easy access for funding research fellows with downloadable application foms Selling tickets for events Finding out information of what we do Kidney health Public donations and getting involved We were delighted that our Patron, Dr Douglas received an honorary membership of the BTS. This is a very prestigious award only given out to the most notable in the renal world. Our Chair, Mrs Susan Kee received a Kings Coronation Champion Award in recognition to her voluntary services to NIKRF We were honoured to receive a very substantial legacy from a renal patient. This money has been invested and will be used to fund future initiatives for renal services in Northern Ireland. We are extremely grateful to our Ambassador Paul Mclntyre who has given freely of her time in hosting and attending events for us. Organ Donation We have been involved throughout the process of the new Organ Donation law and this received Royal Assent on 301h March. Representations were made on the Organ Donation Committee meetings and Renal Alliance Meetings. It is called the Organ and Tissue Donation Act {Nl) 2022, Daihis Law Page 5 Northern Ireland Kidney Research Fund Limited Company limited by guarantee Trustee. report Year ended 5 April 2023 Financial Review The trustees are satisfied that the Fund is in a sound financial position to meet the commitments of the charity to Research Fellows over the next 3 years and ensure investment for future research projects. The Trustees approved Grant applications requested by our medical advisors to fund a Phd Studentship, research fellowship and a post dO￿oral research assistant with an estimated cost of £287k over a 2-3 year period (plan £200k) the purpose of the funding is to carry out renal research projects at Queens University Belfast subject to a number of conditions. NIKRF have considered the current financial climate and with the continued commitment from the charity's fundraising groups, supported by the local community, it raised circa £103k (prior year £50k) and received legacies of £687k which included a substantial legacy of £615k of which £550k was invested to fund future initiatives. The Groups are community based and retain strong links with renal services through the Nephrology Dept. in the Belfast Cty Hospitsl updated and guided by our medical advisors and research programme, advances in treatment and futu￿ planning. The Waringstown Cavalcade, one of our main fundraising events which is held the last Friday in June, involves a lot of planning and dedication by the local group and the loyal support of the local community who collect for us and promote the charity. Fine weather and all COVID restrictions removed made it the most SUC￿$sful evening raising £13.5k. The increase of 17k in the Cost of generating voluntary income was due in the main to the development of our new website £6k, use of social media £6.5k and £3.5k expenses for the Waringstown Cavalcade which had been suspended for2 years due to COVID. The provision of £1 Ok for the advertising budget did not take account of the many additional fundraising events held during the year where promotional material was required and lead to an overspend of circa £7k. General Update Wewere delighted to welcome Rev Jim Mccaughan, Mrs Jeanie Martin and Mr Trevor Kinkaid to the board. We were sorry to lose Mr Billy Thompson who stepped down. His loss will be felt greatly as he has been a key member of the charity for many years. He will still remain as an advisor to the board. We wish Prof Peter Maxwell a long and healthy retirement as he stepped down as our medical advisor after many years of service. We welcomed Dr Oonagh Mccloskey as a medical advisor based in Altnagelvin. We were extremely saddened at the passing of a young NIKRF researcher, Dr Aaron Lake, esteemed member Mrs Jackie Smilie and helper and friend to all Mr Denis McNeill Future Plans The Trustees will endeavor to recruit new volunteers and seek to ensure that the Board of Trustees will have representation from all our groups. Online banking will be a priority and once the Articles of Association have been adopted by the Charity Commission a main priority will be the fomulation of policies. We will look at Page 6 Northern Ireland Kidney Research Fund Limited Company limited by guarantee Trustee, report Year ended 5 April 2023 ways of optimizing the charty and taking some pressure off the Trustees who have found their workload increasing dramatically. We will endeavor to fund more quality research to meet our objectives of being the best we can be. The charity medical advisors are very keen to support clinical trainees, postgraduate students and scientific stsff to undertake kidney research projects. In the years 2023124, 2024125 the NIKRF will be supporting a clinical nephrology trainee and stipend for a PhD studentship at an estimated £200k over a 3 year period. The outcome will be a strengthening of the scientific base and resilience beneficial to team and patients and satiS￿.ng the aims of the charity. Grant making policy Applications for grants are made to the fund's medical advisers. These applications are reviewed against the objectives of the fund and grants are awarded if applicable. Principal funding sources The companvs principal source of funding is voluntary income generated from support groups, donations and legacies. Investment policy The Company has engaged Evelyn Partners as an investment manager to pursue a policy of maximising income whilst maintaining some capital gr0￿h. Risk management The trustees have assessed the major risks to which the charity is exposed, in particular those relating to the operation and finances of the Fund and are satisfied that systems are in place to mitigate any exposure to those risks. Risks are considered on an annual basis. Reserves policy The company's policy is to maintain a level of unrestricted funds excluding fixed assets (the free reseNes} at approximately a level sufficient to meet the average charitable expenditure and running costs for a period equivalent to six months expenditure, which equates to approximately £130,407 (ignoring any revaluation gains). These'free reserves" amount to a surplus of £290,996 arising from a change in the market value of investments included within fixed assets. The policy is reviewed on an annual basis. Needs figures updated. Funds held as custodian trustee on behalf of others There are no funds held as custodian trustee on behalf of others. Statement of trustees, responslbilities The trustees (who are also directors for the purposes of the company law) are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and Unrted Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have prepared the financial statements in accordance with Uniled Kingdom Generally Accepted Page7 Northern Ireland Kidney Research Fund Limited Company limited by guarantee Trustee, report Year ended 5 April 2023 Accounting Practice (United Kingdom Accounting Standards and applicable law), including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland.. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of the affairs of the charilable company and of the incoming resour￿5 and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to.. select suitsble accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP- makejudgements and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Standards are FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records that disclose with ￿aSOnable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial ststements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Small companles, exemption This report has been prep8red in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. By order of the Board J Martin Date.. 20 September 2023 Compan ecretary Page 8