Charity registration number NIC105791
Company registration number N1632465 {Northern Ireland)
TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mrs K Carolan
Mrscury
Mr O Diamond
Mr D Gibson
Dr R Hogg
Mrs G Keenan
Mr P Magill
Dr J Mccaffrey
Mr E McGinley
Mr D Molloy
Mr R Napier
Charity number
NIC105791
Company number
N1632465
Regist8red office
6 Annadale Avenue
Belfast
BT7 3JH
Auditor
Miscampbell & Co
6 Annadale Avenue
Belfast
BT7 3JH
Bankers
Danske Bank
Donegall Square West
Belfast
BT1 6JS
Solicitors
Carson McDowell
Murray House
4 Murray Street
Belfast
BT16DN

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
CONTENTS
Page
Trustees. report
Independent auditor's report
9- 11
Statement of financial activities
12
Balance sheet
13-14
Notes to the financial statements
15-23

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their annual report and financial statements for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the a¢¢ounting policies set out in note 1 to the
financial statements and Comply with the charity's governing document, the Companies Act 2006 and "A¢¢ounting
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 IFRS
102)" (effective 1 January 2019).
The Annual Report serves the purposes of both a Trustees, report and a directors, report under company law.
Objectives and activities
a. Policies and objectives
The principle activity of the charity is to continually improve the provision of holistic care for all those with
musculoskeletal injury or disease in Northern Ireland.
b. Activities und8rtak8n to achieve objectives
The trustees are pleased to report that the charity continues wilh their aims of providing holistic care for all those
with musculoskeletal injury or disease in Northern Ireland, through their 3 strategic aims.. Research Education and
Support.
c. Maln actlvities undertaken to further the company's purposes for the public benefit
The charity has a number of different projects running, the results of the major ones are listed below in the main
achievements and review of activities of the company.
Achievements and performance
Charity Staff
The charity has worked well with staff members. A full time Band 6 Office Fundraising ManagerlFundraising Co-
ordinator and a part time Band 4 offi￿ Administrator. This has allowed more time for the charity to focus on
fundraising which includes., bespoke fundraising events and campaigns, application of project grants, working on
brand development and growing the donor datsbase.
The Charity also funds four Belfast Trust Research Staff (1 Research Manager, 1 Research Coordinator, 1 Data
Analysis, 1 Clinical Research Nurse).
Fundraising
The last 12 months has been a huge improvement for TORC with the launch of new fundraising eventslcampaigns
and a focus on raising brand awareness. The return ofthe annual walk on the 9th June 2023 was a big success and
accounted for 570kn of the overall fundraising income. Using new digital platforms such as Eventbrite, Enthuse, Just
Giving, Linkedln, Mail Chimp and Facebook Events has helped increase the charity's visibility and promotion of
each event and this has also increased our followers to the charity's social media platforms. Also, working with
corporate partnerships such as Sainffield United Football Club, Victoria Square, Oceanic Events and Kingsbridge
has helped raise the charity's profile and for the first time TORC was chosen as the beneficiary charity for award
ceremonies. The Europa Hotel Abseil and the Belfast Castle Abseil were two successful events for TORC which
enabled staff and past patients to get involved and fundraise.

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1stApril 2023 to 1stApril 2024
Fundraising & Donation Figures (only)
Fundraising Events
TORC Walk 2023 (including Gift Aid)
Community Fundraising
Gift in Will
General Donations
Corporate Fundraising
Total
£41,775.00
£13,869.43
£10,000.00
£4,843.71
£2,527.82
£73.015.96
14%
7%
3%
Patient Liaison Group
The Patient Liaison Group had its first meeting since COVID on Monday 26th February in TORC'S Simulation
Room. The group is aiming to meet quarterly and is actively looking for new members. The next PLG meeting is
scheduled for May 2024.
Research
The following clinical trials have been on going:
Name
pi
Sponsor
SCIENCE - Surgery or Cast for Injuries
of the Epicondyle in Children's Elbows
Mr Richard Napier
University of Oxford
The Humeral Shaft fracture trial - HUSH
Mr Owen Diamond
University of Oxford
Bracing Adolescent Idiopathic Scoliosis
night-time
vs
full-time
bracing
adolescent idiopathic scoliosis {BASISI
Mr Sam Sloan
Sheffield Children's NHS Foundation Trust
Study of retrieved orthopaedic implants,
associated tissues & dats
Mr Richard Napier
University of Leeds

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
The following clinical trials have started in the last 12 months..
Name
pi
Sponsor
he Meniscal Transplant surgery or Optimised
Rehabilitation full randomised trial (METEOR-2)
Ms Clara Stevenson
University of Warwick
World Hip Trauma Evaluation.. Lidocaine
Intravenous Trial IWHITE LIT)
Dr Clara O'Donnell
University of Oxford
World Hip Trauma Evaluation.. Dual mobility vs
standard articulation THR in the treatment o
older adults with hip fracture (WHITE DUALITY)
Mr Owen Diamond
University of Oxford
Reverse or Anatomical replacement for Painful
Shoulder Osteoarthritis, Differences between
Interventions {RAPSODI)
Mr Brendan Gallagher
University of York
PERI-operative biologic DMARD management..
stoppage or Continuation during orthoPaEdic
operations (PERISCOPE)
Mr Ravi Pagoti
University of Leeds & Leeds
Teaching Hospital NHS Trust
Deprivation levels of patients waiting for TH
and TKA in Nl
Prof David Beverland
Belfast Trust
The research team where involved in Ihe following publications..
1. Early surgery improves survival after femoral fractures in the elderly.. A retrospective review of 502 fragility
fractures. Catherine Gilmore Alistair Mayne, Christopher Goodland, Roslyn Cassidy, Lisa MacDonnell
Paul Mogey , Lynn Murphy , Owen Diamond. Injury. 2024 Feb",55{2).'111275.
2. Reoperation risk of periprostheti¢ fracture after primary total hip arthroplasty using a collared cementless or
taper-slip cemented stem. Matthew Lynch Wong, Mark Robinson, Leeann Bryce, Roslyn Cassidy.
Jonathan N. Lamb, Owen Diamond, David Beverland. 2024 February 1. Bone Joint J 2024;10&B(21.'144-
150.
3. Technical note-the use of an inclinometer to accurately guide intra-operative femoral de-rotational
osteotomies. Alistair IW Mayne, Owen J Diamond. 2023 July 31. J Hip Pres Surg, 2023 Jul 31,-10
(3-4)=253-255.
4. The painful truth of waiting for hip and knee arthroplasty in Northern Ireland. Karayiannis PN. Warno¢k M,
Cassidy R, Jones K, Scott CEH, Beverland D. Bone Joint J. 2023 Jul 1-105-B{7)-783-794.
5. Are Patients With Morbid Obesity at Increased Risk of Pulmonary Embolism or Proximal Deep Vein
Thrombosis After Lower Limb Arthroplasty? A Large-database Study. Thompson R, Cassidy R, Hill J, Bryce
L, Napier R, Beverland D. 2023 July 20 -482(1)-115-24.
6. Survivorship of 500 Cementless Total Knee Arthroplasties in Patients Under 55 Years of Age. Sheridan GA,
Cassidy RS, McKee C, Hughes I, Hill JC, Beverland DE. J Arthroplasty. 2023 May;38(5)'.820-823.
7. Is Cementless Totsl Knee Arthroplasty Safe in Women Over 75 Y of Age? Gibbons JP, Cassidy RS, Bryce
L, Napier RJ, BloGh BV, Beverland DE. J Arthroplasty. 2023 Apr',38(4):691-699.

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Education
Staff, orthopaedic trainees and students have attended the following conferences to present both oral and poster
presentations of TORC resear¢h'.
Northem Ireland Brltish Geriatric Society April Meeting 20th April, Antrim
Audit of Delirium Screening and Documentation in Older Patients on Trauma Wards. C Sheridan, L Sherry, R
Cassidy, O Diamond, E Cunningham, J Lynch. POSTER
Irish Orthopaedic Association Annual Meetingi 16th- 17th June Limerick
Long term follow up of Ceramic on Metal Total Hip Arthroplasty. D Milligan, G Baker, J Hill, F O'Neill, N
Gallagher, J MGChesney, M Stevenson, D Beverland. PODIUM
Alzheimer's Association International Conference July, 16th- 20th July, Amsterdam
Delirium following elective arthroplasty predicts mild cognitive impairment {MCI) and dementia eight years later
however this is not independent of pre-operalive neurodegenerative biomarkers and cognition. A Sweeney, AP
Passmore, D Beverland, B McGuinness, DF McAuley, S O'Brien, A Heslegrave, JM Schott. H Zetterberg. E
Veleva. R Laban. EL Cunningham. POSTER
Eight Year Follow-up of an Observational Cohort of Postoperative Delirium in An Older Elective Arthroplasty
Population. Aoife Sweeney. PODIUM Presentation at Perioperative Cognition and Delirium Professional Interest
Area Preconference Session
European Federation of National Associations of Orthopaedics and Traumatology (EFORT) Annual
Congress, 24th - 26th Mayp Vienna
Early Surgical Intervention Leads To A Reduction In Mortality For Patients With Fragility Femoral Shaft
Fractures. C Gilmore, A Mayne, C Goodland, R Cassidy, P Mogey. L McDonnell, L Murphy, O Diamond.
PODIUM
Instability And Periprosthetic Fracture Rates In A Continuous Series Of 11,683 Exeter And Corail Stems Carried
Out In Musgrave Park Hospital Over A 10 Year Period. M Robinson, M Lynch-wong, J Lamb, L Bryce R
Cassidy, J Hill, D Beverland. PODIUM
Belfast Trust Trauma & Orthopaedics physiotherapy Conference 20th September, Lisburn
Surgical Update on Soft Tissue Reconstruction of the Knee. R Napier PODIUM
Surgical management of hip dysplasia and hip impingement, O Diamond PODIUM
European Delirium Association (EDA) Annual Meeting, 6th - 8th September Birmingham
Clinical Postoperative Delirium Resilience- Associations and Subsequent Eight Year Cognitive Outcomes in An
Observational Cohort Study. Aoife Sweeney. PODIUM.
British Orthopaedic Association (BOAI Annual Congress, 19th- 22rd S8Ptember, Liverpool
Chamley Lecture.. Failure is a Gift. D Beverland
International Society for Tochnology in Arthroplasty. 27th - 30th September, New York
Statistical Shape Model Enabled Pre-operative Templating Can Improve Femoral Offset and Neck Shaft Angle
Measurement from Standard Radiographs. O Denton, N Dunne, J Hill, D Beverland, A Lennon. PODIUM
Impact of Radiographic Projection on Assessment of Internal Femoral Geometry. O Denton, N Dunne, J Hill, D
Beverland. A Lennon. PODIUM

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
British Hip Society Annual Scientific Meeting 2024 at the ICC Belfast, 28th February- 1st Pjlarch 2024
Does an intraoperative femoral fracture impact one year PROMS when using a cementless Corail stem? M
Robinson, M Lynch Wong, R Cassidy, L Bryce. J Lamb, O Diamond, D Beverland. PODIUM
Six should be the new four. D Beverland. PODIUM
The painful truth of waiting for hip arthroplasty in Northem Ireland- A cohort study of the worst NHS waiting lists
for elective hip arthroplasty. POSTER.
Reducing Variability in Apparent Operative Inclination (AOI) during Total Hip Arthroplasty: Comparing the Ball in
Cage Reality Based Navigation Instrumentation to a Digital Inclinometer. C Goodland, M Robinson, R. Cassidy,
D Beverland. POSTER
Mortality after femoral fractures in the elderly, a retrospective review of 502 fragility fractures. C Gilmore, A
Mayne, C Goodland, R Cassidy, L Murphy, O Diamond. POSTER
TORC continues to provide patient booklets to major trauma patients.
Support
The following projects have been supported by TORC in the last 12 months:
Branded Ortholove leg elevators for patient use, these arrived at the end of January 2024 and have been
delivered to 5 hospitals across the province. These branded leg elevators are used by patients recovering
from lower limb fractures. The Royal Victoria Hospital, Craigavon Area Hospital, Altnagelvin Hospital, Ulster
Hospital and Musgrave Park Hospital all received these. Funders for this project also included.. Danske
Bank Employees Charity Group, Enkalon Foundation and W.G Edwards Charitable Foundation. Patient
and stsff feedback on these has been very positive.
Funding to create a realistic model of a paediatric elbow for training purposes to teach registrars.
Organisation and funding of the Major Trauma Centre Conference at Belfast City Hospital Postgraduate
Centre.
Future Plans
In the next 12 months, the research team will be continuing wilh the on-going research studies and aiming to get
approval for planned research.
Clinical Trials Starting 2024..
G-FORCE.. Gait in Fixed Or Rotating Cementless Total Knee Arthroplasties (G-For¢e TKA)
IMPACTS= Acceptability and Feasibility ofAcceptance and Commitment Therapy in Total Knee Arthroplasty
Patients
Can the use of Virtual Reality Improve Outcomes Following Total Knee Arthroplasty with Spinal
Anaesthesia?_A Pilot study
SarcoSIGHT: A Randomised-control Trial of Fluorescence Guided Sarcoma Surgery Versus the Standard
of Care (multicentre NIHR study)
Education and Support..
The refurbishment of the BART Room in Musgrave Park Hospital into the TORC Training and Education
Hub will be completed. This will be a multifunctioning room to facilitate meelings, training, seminars and
teaching courses, in addition it will provide a focal point in the hospital to meet, in particular to grow TORC'S
research capacity.
Part funding for a Sarcoma clinical nurse specialist in Musgrave Park Hospital (Sophie's Nurse). Working
alongside BOOM Foundation & Mathewson Family to support this.
Yearly maintenances costs of the Resuscitstive Thoracotomy Manikin for Major Trauma Team in Royal
ViGtoria Hospital.
Design of patient education videos for patients waiting for hip and knee surgery.

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
TORC'S Fundraising Strategy will primarily focus on..
Developing into new areas of business.. legacies, donation in lieu of flowers, and grow gift in will donations
Competition fundraising l incentives
Recruit new charity ambassadors who will activity promote and empower our work
Develop and add to products and Campaigns with new ideas
Grow income streams with donor development segmentation
Continue to recruit for new corporate partners
Invest in a CRM system and Sum-up card reader machine
Financial review
After reviewing the charity's forecasts and projections, the trustees are confident that the charity has adequate
financial resources to continue in operational existence for the foreseeable future. The ¢harity therefore continues to
adopt the growing Concerns basis in preparing its financial statements.
Staff salary costs continue to rise and are approximately £250k per year.
The TORC Training and Education Hub project is another high cost that the ¢harity will have to absorb. The project
has been discussed several times by the trustees at TORC'S interim meetings and AGMS and was given approval at
the November 2023 AGM. The quotation from the Belfast Trust's Estates Department was £150,160.53. TORC have
secured a total of £30,000 from funders and requested a further £80,000 from other funding bodies. The charity
plans to add any shortfall from their financial reserves to ¢over the remainder of the costs. This has been discussed
with the trustees and it was felt that the benefits of the new Hub would OU￿e1gh the risks of using our reserves. The
Hub will bring in more funding, and enable research and training to take place so it's considered to be essential for
the future of the charity. The trustees will receive regular updates on the progress of the Hub including the budget.
The Net Current Assets at 31st March 2024 were £802,268 {2023 - £829,014) with restricted funds at £180,146
(2023 - £113,486), designated funds amounting to £338,379 (2023 - £338,379) refle¢ting an underlying unrestricted
funds reseNe of £283,743 {2023 £377,149). The designated funds are expected to be utilised over the next 12 to
24 months.
Structure, governance and management
Constitution
Trauma & Orthopaedics Research Charity is registered as a charitable company limited by guarantee and was set
up by a Trust Deed.
b. Methods of appointment or election of trustees
The management of the company is the responsibility ofthe Trustees who are elected and co-opted under the terms
of the Trust Deed.
c. Organisational structure and decislon making policies
The board is responsible for setting the mission, vision, values and strategic objective of the charity and for
overseeing the implementation of those objectives. David Beverland has been delegated day to day management.
d. Pay pollcy for key management personnel
Trustees are not remunerated and are appointed based on merit against objectives criteria. Although trustee
appointments are not public appointments, the charity aim to comply with the principles of Commissioners for Public
Appointments in Northern Ireland {merit, diversity, equality, openness, transparency, independen￿, integrity,
proportionality and respect)

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
e. Financial Risk management
The trustees has assessed the major risks to which the company is exposed, in particular those rek2ted to the
operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate
exposure to the major risks.
The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to
the date of signature of the financial statements were:
Mrs K Carolan
Mr S Curry
Mr O Diamond
Mr D Gibson
Dr R Hogg
Mrs G Keenan
Mr P Magill
Dr J Mccaffrey
Mr E McGinley
Mr D Mo51oy
Mr R Napier
None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company
and guarantee to contribute £1 in the event of a winding up.
Statement of Trustees, responsibilities
The Trustees, who are also the directors of Trauma & Orthopaedics Research Charity for the purpose of company
law, are responsible for preparing the Trustees, Report and the financial statements in accordan￿ with applicable
law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting PraGtice).
Company Law requires the Trustees to prepare financial statements for each finan¢ial 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, including
the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the Trustees are required to..
select suitable accounting policies and then apply them consistently.,
observe the methods and principles in the Charities SORP.,
make judgements and estimates that are reasonable and prudent.,
state whether applicable UK Accounting Standards have been followed, subject to any material departures
disclosed and explained in the financial stalements.. and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity
will Continue in operation.
The Trustees are responsible for keeping adequate accounting record5 that disclose with reasonable accuracy at
any time the financial position of the charity and enable them to ensure that the financial statemen ts comply with the
Companies Act 2006. 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.
Auditor
In accordance with the company's articles, a resolution proposing that Miscampbell & Co be reappointed as auditor
of the company will be put at a General Meeting.

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees, report was approved by the Board ofTrustees.
Napier
Trustee
Date..

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
Opinion
We have audited the financial statements of Trauma & Orthopaedics Research Charity {the '¢harity') for the year
ended 31 March 2024 which comprise the statement of financial activities, the balance sheet and notes to the
financial statements, including significant accounting policies. The financial reporting framework that has been
applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial
Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of I￿land (United
Kingdom Generally A¢¢epted A¢¢ounting Practice).
In our opinion, the financial statements:
give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its
incoming reSoUr￿S and application of resources, for the year then ended-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting PractI￿-
and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing {UK) (ISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit ol
the financial statements section of our report. We are independent of the charity 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 with these requirements. We believe
that 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 statements, we have concluded that the Trustees, use of the going concem basis of
accounting in the preparation of the financial ststements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relaling to events or
Conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going
concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going con¢em are described in the
relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements
and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual
report. Our opinion on the financial statements does not Cover the other information and we do not express any form
of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider
whether the other information is materially inconsistent with the financial statements or our knowledge obtained in
the course of the audit. or otherwise appears to be materially misstated. If we identify such material inconsistencies
or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement
in the financial statements themselves. If, based on the work we have performed, we conclude that there 15 a
material misstatement of this other infomiation, we are required to report Ihat fact.
We have nothing to report in this regard.
Matters on which we are reqUI￿d to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and
Reports) Regulations 2008 require us to report to you if, in our opinion=
the information given in the financial statements is inconsistent in any material respect with the Trustees,
report; or
sufficient accounting records have not been kept- or
the financial statements are not in agreement with the accounting records., or
we have not received all the information and explanations we require for our audit.

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
Responsibilities of Trustees
As explained more fully in the statement of Trustees, responsibilities, the Trustees, who are also the directors of the
charity for the purpose of company law, are responsible for the preparation of the financial statements and for being
satisfied that they give a true and lair view. and for such internal control as the Trustees determine is necessary to
enable the preparation of financial statements that are free from material misstatement, whether due to fraud or
error. In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the going
concern basis of aG¢ounting unless the Trustees either intend to liquidate the charitable company or to cease
operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the
Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance
with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or
error and are considered material if. individually or in the aggregate, they could reasonably be expected to influence
the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in
line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including
fraud. However. the primary responsibility for the prevention and detection of fraud rests with both those charged
with governance of the Company and management. The extent to which our procedures are capable of detecting
irregularities, including fraud is detailed below..
obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and
determined that the most significant are those that relate to the reporting framework (FRS 102 and the
Companies Act 2006) and the relevant tax compliance regulation in the United Kingdom;
understood how the Company is complying with those frameworks by making enquiries of management to
understand how the Company maintains and communicates its policies and procedures in these areas-
assessed the vulnerability of the Company's financial statements to material misstatement, including how
fraud might occur by considering the risk of management override and by assuming revenue recognition to
be a fraud risk,. and
based on this understanding our audit procedures were designed to identify non-compliance with such laws
and regulations.
We assessed the susceptibility of the company's financial statements to material misstatement, induding obtaining
an understsnding of how fraud might occur, by.,
Identification of related parties.,
Making enquiries of management regarding where they considered there was susceptibility to fraud, their
knowledge of actual, suspected and alleged fraud.,
Considering the internal controls in place within the company to mitigate the risk of fraud and non-
compliance with laws and regulations.
To address the risk of fraud. override of controls and non-compliance with laws and regulations, we performed
analytical procedures to identify any unusual or unexpected related party relationships, tested joumal entries to
identity unusual transactions, investigated any significant or unusual transactions and assessed whether
judgements and assumptions made in determining the accounting estimates were suggestive of potential bias.
A further description of our responsibilities is available on the Financial Reporting Council's website at.. https.'Il
www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report.
10-

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
Use of our report
This report is made 501ely to the company's members, as a body, in accordance with the Companies Act 2006. Our
audit work has been undertaken 50 that we might state to the company's member5 those matters we are required to
state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not a¢¢ept
or assume responsibility to anyone other than the company and the Company's members as a body, for our audit
work, for this report, or for the opinions we have formed.
Jonathan R Bethel (Senior Statutory Auditor)
for and on behalf of Miscampbell & Co
24 July 2024
Chartered Accountants
Statutory Auditor
6 Annadale Avenue
Belfast
BT7 3JH
11

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Unrestri¢ted Restricted
funds
funds
2024
2024
Total Unrestricted Restricted
funds
funds
2023
2023
Total
2024
2023
Notes
Income from:
Donations and legacies
Other trading activities
Investments
7.235
69,826
390
347,788
355,023
69,826
390
11,507
8,321
566
243,873
255,380
8,321
566
Total incomo
77,451
347,788
425,239
20,394
243,873
264,267
Expenditure on:
Charitable activities
Other expenditure
158,111
65,410
286,948
445,059
65,410
69,775
196,370
266,145
11
Total expenditure
223,521
286,948
510,469
69,775
196,370
266,145
Net gainsl(losses) on
investments
12
58.484
58,484
{23,562)
(23,562)
Net in¢omel{expenditure)
(87,586)
60,840
(26,746)
{72,943)
47,503
(25,440)
Transfers between
funds
(5,820)
5,820
Net movement in
funds
(93,406)
66,660
(26,746)
(72,943)
47,503
(25,440)
Reconciliation of funds:
Fund balances at 1 April 2023
715,528
113,486
829,014
788,471
65,983
854,454
Fund balances at 31 March
2024
622,122
180,146
802,268
715,528
113,486
829,014
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure
derive from continuing activities.
12-

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Nots$
Fixed assets
Tangible assets
Investments
14
15
8,954
648,120
12,143
589,636
657,074
601,779
Current assets
Debtors
Cash at bank and in hand
16
882
150,527
65,749
190,548
151,409
256,297
Creditors: amounts falling due within
one year
17
(6,215)
(29,062)
Net current assets
145,194
227,235
Total assets less current liabilities
802,268
829,014
Income funds
Restricted funds
nrestricted fund
Designated funds
General unrestricted funds
18
180,146
113,486
19
338,379
283,743
338,379
377,149
622,122
715,528
802,268
829,014
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act
2006, for the year ended 31 March 2024, although an audit has been carried out under Charities Act (Northern
Ireland) 2008.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006
with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject
to the small companies regime.
13-

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
The financial statemen15 were approved by the Trustees on
14171 LL+v
MrD
Trustse
loy
Napier
Trustse
Company registration number N1632465
14-

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
Charity information
Trauma & Orthopaedi¢s Research Charity is a private company limited by guarantee incorporated in Northern
Ireland. The registered office is 6 Annadale Avenue, Belfast, BT7 3JH.
1.1 Accounting convention
The financial statements have been prepared in accordanGe with the Companies Act 2006, 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 ¢harities
preparing their accounts in a¢cordance 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 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.
1.2 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.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable
objectives.
Restricted funds are subject to specific conditions by donors or grantors 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.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the
charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met.
the amount5 can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. other donations are recognised once the charity has been notified
of the donation, unless performance Gonditions require deferral of the amount. Income tax recoverable in
relation to donations received under GiftAid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution,
the amount 15 known, and receipt is expected. If the amount is not known, the legacy is treated as a
contingent asset.
15-

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
(Continued)
1.5 Expenditure
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 dI￿t 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 allo¢ated on the portion of the asset's use.
All expenditure is inclusive of irrecoverable VAT.
1.6 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
Qffi¢e equipment
25QA straight line
15QA straight line
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.
1.7 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
incomel(expenditure) for the year. Transaction costs are expensed as incurred.
1.8 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).
1.9 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-temi liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
1.10 Financial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net
basis or to realise the asset and settle the liability simultaneously.
16-

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
{Continuedl
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 transa¢tion 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
Basi¢ financial liabilities, including credilors and bank loans are initially re¢ognised at transaction pri￿ 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.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If not, they are presented as non-current liabililies. Trade creditors are recognised initially at
transaction pri¢e and subsequently measured at amortised cost using the effective interest method.
Derecognition of flnancial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or
cancelled.
1.11 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are
received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed
to terminate the employment of an employee or to provide termination benefits.
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.
17-

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Income from donations and legacies
Unrestricted Restricted
funds
funds
2024
2024
Total Unrestricted Restricted
funds
funds
2023
2023
Total
2024
2023
Donations and gifts
Grants
7,235
30,198
317,590
37,433
317,590
11,507
101,185
142,688
112,692
142,688
7,235
347,788
355,023
11,507
243,873
255,380
Income from other trading activities
Unrestricted Unrestricted
funds
funds
2024
2023
Fundraising
69,826
8,321
Incom8 from investments
Unrestricted Unrestricted
funds
funds
2024
2023
Investment income
390
566
18-

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Expenditure on charitable activities
Total
2024
Total
2023
Direct costs
Depreciation and impairment
3,189
3,227
Share of support and governance costs (see note 7)
Support
Governance
437,970
3,900
258,066
4,852
445,059
266,145
Analysis by fund
Unrestricted funds
Restricted funds
158,111
286,948
69,775
196,370
445,059
266,145
Support costs
Support Governance
costs
costs
2024
Support Governance
costs
costs
2023
Repairs
Legal and professional
Postage and stationary
General
Telephone
Subscriptions
Bank fees
Advertising costs
Contract work
Research and
development
Insurance
Conference Costs
Fundraising costs
Training
Audit fees
520
1,284
2,243
217
494
2,036
246
2,223
370,435
520
1,284
2.243
217
494
2.036
246
2,223
370,435
(5)
5,103
7.184
115
508
1,051
127
4,802
184,792
<5)
5,103
7,184
115
508
1,051
127
4,802
184,792
42,700
855
9,592
4,855
270
42,700
855
9,592
4.855
270
3,900
24,250
637
28,918
584
24,250
637
28.918
584
3,900
4,852
4,852
437,970
3,900
441,870
258,066
4,852
262,918
Analysed be￿een
Charitable activities
437,970
3,900
441,870
258,066
4,852
262,918
19-

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Net movement in funds
2024
2023
The net movement in funds is stated after charging1(C￿diting}.
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets
3,900
3,189
4,852
3,227
Trustees
None of the Trustees {or any persons connected with them) received any remuneration or benefits from the
charity during the year.
10 Employees
The average monthly number of employees during the year was=
2024
Number
2023
Number
Including Trustees
13
There were no employees whose annual remuneration was more than £60,000.
11 Other expenditur8
Unrestricted Unrestricted
funds
funds
2024
2023
other expenditure
65.410
12 Gains and losses on investments
Unrestricted Unrestricted
funds
funds
2024
2023
Gainsl(losses) arising on..
Revaluation of investments
58,484
(23,562)
13 Taxation
The Gharity is exempt from taxation on its activities because all its income is applied for charitable purposes.
-20-

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
14 Tangible fixed assets
Fixtures and
fÉttings
Office
equlpment
Total
Cost
At 1 April 2023
6,428
21,516
27,944
At 31 March 2024
6,428
21,516
27,944
Depreciation and impairment
At 1 April 2023
Depreciation charged in the year
6,428
9,373
3,189
15,801
3,189
At 31 March 2024
6,428
12,562
18,990
Carrying amount
At 31 March 2024
8,954
8,954
At 31 March 2023
12,143
12,143
15 Fixed asset investments
Listed
investments
Cost or valuation
At 1 April 2023
Valuation Changes
589,636
58,484
At 31 March 2024
648,120
Carrying amount
At 31 March 2024
648,120
At 31 March 2023
589,636
16 Debtors
2024
2023
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
65,410
339
882
882
65,749
21

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
17 Creditors: amounts falling due within one year
2024
2023
Accruals and deferred income
6,215
29,062
18 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
2023
Incoming
resources
Resources
expended
Transfers At 31 March
2024
PEI
DB consultancy
Depuy
Bone foam pillow project
MITRE Trust
63,834
49,652
148,056
30,198
63,834
5,700
100,000
(79,298)
(68,130)
(28,000)
(11,520)
{100,000}
132,592
11,720
35,834
5,820
113,486
347,788
(286,948)
5,820
180,146
Previous year:
At 1 Aprll
2022
Incoming
resources
Resources
expended
Transfers At 31 March
2023
PEI
DB consultancy
Depuy
16,331
49,652
78,854
101,185
63,834
(31.351)
(101,185)
{63,834}
63,834
49,652
65.983
243.873
(196,370)
113,486
19 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are
not subje¢t 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
such as 2 years running costs to cover staff salaries.
At 1 April
2023
Incoming
resources
Resources
expended
Transfers
Gains and At 31 MarGh
losses
2024
Designated
funds
General funds
338,379
377,149
338.379
283,743
77,451
{223.521)
(5,820)
58,484
715,528
77,451
{223,521)
{5,820}
58,484
622,122
-22-

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
19 Unrestricted funds
(Continued)
Previous year:
At 1 April
2022
Incoming
resources
Resources
expended
Transfers
Gains and At 31 March
losses
2023
Designated
funds
General funds
115,220
673,251
223,159
(223,159)
338,379
377,149
20,394
{69,775)
(23,562)
788,471
20,394
(69,775)
(23,562)
715,528
20 Analysis of net assets between funds
Unr8stricted
funds
2024
RestriGted
funds
2024
Total
2024
At 31 March 2024:
Tangible assets
Investments
Current assetsl{liabilities)
4,887
648,120
(30,885}
4,067
8.954
648,120
145,194
176,079
622.122
180,146
802,268
Unrestricted
funds
2023
Restricted
funds
2023
Total
2023
At 31 March 2023:
Tangible assets
Investments
Current assetsl(liabilities)
6,551
589,636
119,341
5,592
12,143
589,636
227,235
107.894
715,528
113,486
829,014
21 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
-23-