Company registration nurnber N1632465
TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
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 Molloy
Mr R Napier
Company number
N1632465
Registered office
6 Annadale Avenue
Belfast
BT7 3JH
Auditor
Miscampbell & Co
6 AnnadaleAvenue
Belfast
BT7 3JH
Bankers
Danske Bank
Donegall Square West
Belfast
BT16JS
Solicitors
Carson McDowell
Murray House
4 Murray Street
Belfast
BT16DN

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
CONTENTS
Page
Trustees, report
Independent auditor's report
9-11
ststement of financial activities
12
Balance sheet
13-14
Notes to the financial statements
15-24

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees present their annual report and financial statements for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the
financial statements and comply with the ¢harity's governing document, the Companies Act 2006 and "Accounting
and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS
102)" (effective 1 January 2019).
The 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 Gontinually improve the provision of holistic care for all those with
musculoskeletal injury or disease in Northern Ireland.
b. Activities undertaken to achieve objectives
The trustees are pleased to report that the charity continues to improve the provision of holistic care for all those
with musculoskeletal injury of disease in Northern Ireland, through their 3 strategic aims.. Research Education and
Support.
c. Main activities 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
a¢hievements and review of activities of the company.
Achievements and performance
Charity Staff
The charity continues to work well with staff members. This has helped the charity grow and focus on
developing fundraising income streams to help fund charity projects. Future plans are in place to grow the team to
help engage and obtain more charity partnerships.
Fundraising
The last 12 months has seen a decrease in fundraising and donations. This is something most charities are
experiencing. Securing funding for the refurbishment of the new TORC Training & Education Hub was a priority at
the start of the year meaning less time was available for fundraising. The TORC Walk on Sunday 9th June 2024
saw a decrease in donations which impacted the overall fundraising income for the financial year. Th is event still
made up a large proportion of the overall fundraising income. We have seen some slight growth on oursocial media
platforms which has helped raise awareness and helped the charity's visibility and promotion of our fundraising
events and campaigns. The partnership with the Kingsbridge Private Hospital was successful with vartOUS
fundraising activities and events and funding was secured from the Kingsbridge Foundation for the refurbishment of
TORC Hub. The Belfast City Marathon 2024 had relay teams from the Trauma Ward at the Royal Victoria Hospital
and our charity partner Saintfield United FC. TORC fundraisers also took part in the Crumlin Road Jail Abseil at
Christmas time.

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Research
The following clinical trials have been on going..
Name
pi
Sponsor
The Humeral Shaft fracture trial - HUSH
Mr Owen
Diamond
University of Oxford
Bracing Adolescent Idiopathic Scoliosis night-time vs
full-time bracing in adolescent idiopathic scoliosis
(BASIS)
Mr Sam Sloan
Sheffield
Children's
Foundation Trust
NHS
study of retrieved orthopaedic implants, asso¢iated
issues & data
Mr Richard
Napier
University of Leeds
The Meniscal Transplant surgery or Optimised
Rehabilitation full randomised trial (METEOR-2)
Ms Clara
stevenson
University of Warwick
World Hip Trauma Evaluation.. Lidocaine Intravenous
Trial (WHITE LIT)
Dr Clara
O'Donnell
University of Oxford
World Hip Trauma Evaluation.. Dual mobility VS
standard articulation THR in the treatment of 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-operalive biologic DMARD management..
stoppage or Continuation during orthopaedic
operations (PERISCOPE)
Mr Ravi Pagoti
University of Leeds & Leeds
Teaching Hospital NHS Trust

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The following clinical trials have started in the last 12 months..
Name
pi
Sponsor
Imaging in Paediatric Osteomyelitis (the PIC Bone
study}- a multi-centre Cohort study to understand the
role of MRI and Ultrasound in the diagnosis of acute
haematogenous osteomyelitis in children.
My Paul
Karayiannis
University of Oxford
My Knee Plan.. A project to develop a care plan with
a named Healthcare Professional
Mr Richard
Napier
North Bristol NHS Trust
Can the use of Virtual Reality Improve Outcomes
Following Total Knee Arthroplasty with Spinal
naesthesia?_A Pilot Study
Dr David
Johnston
Belfast Health and Social Care
Trust
The research team were involved in the following publications:
1. Novel radiographic stem version predictor from anterior-posterior radiographs. Denton O, Madden-MGKee C,
Dunne N, O'connor J, Hill J, Beverland D, Lennon A.
2. Clin Biomech (Bristol). 2025 Mar-123.'106465.
3. The third gap The forgotten space in total knee arthroplasty. Brown W, Gallagher N, Roberts D, Napier R,
Barrett D, Beverland D. Knee. 2025 Jan., 52'.164-170.
4. Long-term follow-up of ceramic-on-metal total hip arthroplasty. Baker G, Hill J, O'Neill F, Mcchesney J,
Stevenson M. Beverland D. Bone Jt Open. 2024 Nov 5,'5(11)'.971-976.
5. Long term follow up of 257 consecutive cementless Oxford medial compartment knee arthroplasties at a non-
designer ¢entre. Karayiannis P, Cassidy R, Dobie I, Beverland D. Knee. 2024 Aug,. 49'.201-209.
6. Socioeconomic deprivation is associated with worse health-related quality of life and greater opioid analgesia
Use while waiting for hip and knee arthroplasty. Gallagher N, Cassidy R, Karayiannis P, Scott CEH, Beverland
D. Bone JI Open. 2024 May 24'.5{5):444-451.
7. Early versus delayed weight-bearing following operatively treated ankle fracture (WAX).. a non-inferiority,
multicentre, randomised controlled trial. Bretherton CP, Achten J, Jogarah V. Petrou S, Peckham N, Achana F.
Appelbe D, Kearney R, Claireux H, Bell P, Griffin XL; WAX Investigators. Lancet. 2024 Jun 29.403
(10446).'2787-2797.
8. Return to work and activity after rib-fixation for acute chest trauma- first application of a validated patient-
reported outcomes assessment tool. Blythe A, Cassidy R, Diamond O, Mcmanus K. Eur J Cardiothoracic Surg.
2024 Jun 3,'65{6)-ezae192.

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Education
Staff, orthopaedic trainees and students have attended the following conferences to present both oral and poster
presentations of TORC research:
Northern Ireland Biomedical Engineering Society, 23rd May 2024, Belfast
Annual Meeting of the Irish Orthopaedic Association. 21st & 22nd June 2024, Kilkenny
British Orthopaedic Research Society Meeting, 9-10th September 2025, Sheffield
British OrthopaedicAssociation Meeting 17th - 20th September 2024
Association for Simulated Practice in Healthcare, 3-51h November 2024, Edinburgh
The Great Debate, 5th & 6th February 2025, London
British Hip Society Annual Meeting, 5th - 7th March 2025. Harrogate
American Academy of Orthopaedic Surgery, 10th- 14th March, San Diego
The following initiatives have also been supported..
STRIDE Program has been developed and had its first trial with East Belfast GAA. Plans to go ahead and
launch to sports clubs will continue with further bookings from Hillsborough Juniors FC, Saintfield Utd. FC,
Kil¢lief GAA in Strangford.
Development of pre-op education videos for hip and knee replacement patients. Videos covered
preparation for surgery, what to expect. complications and exercises.
Facilitated IOFAS pre-conference meeting in Musgrave Park Hospital on the 27th September.
The TORC Research Seminar was held on the 4th of October in Belfast with invited speakers.. Prof Matt
Costa, Mr Faichra Rowan, Prof Dan Perry. Prof John Wong and Mr Gerry Sheridan. It was attended by
healthcare staff and students and was very well re¢eived.

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Support
The following projecls have been supported by TORC in the last 12 months..
Training equipment for the Children's Fracture Clinic.. a life size skeleton and a knee model.
The servicing of the Resuscitative Thora¢otomy Manikin for the Major Trauma Team, RVH. The manikin
was used for trauma team training.
3D printed models to practice fixing broken elbow bones in children. A simulation training event was held
for trainees using these.
The Refurbishment of the existing x-ray storage space {BART Room) in Musgrave Park Hospital into the
TORC Training & Education Hub.
Altnagelvin Area Hospital analysis of their 90 day arthroplasty outcomes on an on-going basis.
Patient Liaison Group
The Patient Liaison Group has had two meeting this year in the new TORC Training & Education Hub. The group
have recruited three new members. Several patient related topics were discussed on current projects, for example,
the new patient information videos, opinions on using technology for patient information and a review of patient
information for future research studies. The next PLG meeting is scheduled for later in the year.
Future Plans
In the next 12 months, the research team will be continuing with the on-going research studies and aiming
to get approval for planned research.
The team will be working on Hip Fra¢ture Patient Booklet for Craigavon Area Hospital
TORC will part fund along with the BOOM Foundation a B7 Sarcoma clinical nurse specialist in MPH.
linic l Trials Startin
in 2025126..
G-FORCE: Gait in Fixed Or Rotsting Cementless Total Knee Arthroplasties (G-Force TKA)
IMPACTS= Acceptability and Feasibility of Acceptance and Commitment Therapy in Total Knee Arthroplasty
Patients
SarcoSIGHT: A Randomised-control Trial of Fluorescence Guided Sarcoma Surgery Versus the Standard
of Care (multicentre NIHR study)
POLYFIX-DCM.. Posterior Laminectomy and Fixation for Degenerative Cervical Myelopathy
FORENSIC.. The ¢lini¢al and cost-effectiveness of lumbar fusion surgery for patients with persistent, severe
low back pain
WHITE.. FRUITI.. World Hip Trauma Evaluation: Fix or Repla￿ undisplaced Intracapsular fractures Trial of
Interventions
ODDSOCKS= Outcomes of Displaced Distal tibial fra¢tures - Surgery Or Casts in Kids
DARFI- Database ofAtypical and Rare Fractures and Injuries
PATH= Incidence of and Risk Factors Associated with Groin Pain Following Total Hip Arthroplasty
FANTA.. Fracture Ankle Tourniquet Assessment study.. a randomised controlled trial
PORTRAIT- Post-operative radiotherapy in surgically treated bone metastases

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
TORC'S Fundraisi
ril focus on-.
Focus on in¢reasing patient awareness about the charity
Developing into new areas of business= legacies, donation in lieu of flowers, gift in will
Recruit new charity ambassadors who will actively promote our work
Grow income streams with donor development segmentation
Continue to re¢ruit for new corporate partners
Invest in a CRM system
Education and Su
Delivery of STRIDE program to grassroots clubs in Nl
90 day arthroplasty outcomes analysis for Craigavon Area Hospital on an on-going basis
Bone foam for RBHSC
More patient videos e.g. Ilizarov frames for children
Continue to support requests for statistical analysis and research support
Financial review
The charity continues to adopt the going concern basis in preparing its financial statements.
Staff salary costs continue to rise=
Charity Staff Salaries - £60,000
Research Staff Salaries - £187,000
The TORC Training and Education Hub project cost double the initially quoted value. Funding was provided for half
the costs meaning TORC had to pay the remaining balance of £75,000.
The Net Current Assets at 31st March 2025 were £505,866 {2024 - £802,268) with restricted fvnds at £286,149
(2024 - £180,146), designated funds amounting to £118.379 {2024- £338,379), reflecting an underlying unrestricted
funds reserve of £101,338, (2024 - £283,743). The designated funds are expected to be utilised over the next 12 to
24 months.

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Structure> governance and management
a. 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 of the Trustees who are elected and co-opted under
the terms of the Trust Deed.
c. Organisational structure and decision 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 policy 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,
Iransparency, independence, integrily, proportionality and respect).
e. Financial Risk management
The trustees has assessed the major risks to which the company is exposed, in particular those related to
the operations and finances of the company, and are satisfied that systems and procedures are in plane 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 Molloy
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.

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Statement of Trustses. responsibilities
The trustees who are also the directors of Trauma and Orthopaedic Research Charity for the purpose of the
company law, are responsible for preparing the trustees report and financial statements in accordan￿ with
applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting
Practise).
Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair
view of the state of affairs of the charity and of the incoming resources and applications 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 then consistently
observe the methods and principles in the charities SORP
make judgements and estimates that are reasonable and prudent., and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
harity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at
any time the financial position of the charity and enable them to ensure that financial statements 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.
The Trustees, report was approved by the Board of Trustees.
Mr R Napier
Trustee
29 August 2025

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
Opinlon
We have audited the financial statements of Trauma & Orthopaedics Research Charity (the 'charity'l for the year
ended 31 March 2025 which comprise Ihe 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 Ireland (United
Kingdom Generally Accepted Accounting Practi¢e).
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 2025 and of its
incoming resources and application of resources, for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.,
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 Auditors 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 statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating 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 ￿e1ve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern 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 is a
material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on whlch we are required to report by 8xception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and
Reports) Regulations 2008 requires 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 infomiation 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 fair view, and for such internal control as the Trustees determine is necessary to
enable the preparation of financial ststements 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 accounting unless the Trustees either intend to liquidate the charitable company or to Cease
operations, or have no realisti¢ 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 lo fraud or error, and to issue an auditols report that includes our opinion.
Reasonable assurance is a high level ol 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 Ihe 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 noTrcompliance with such laws
and regulations.
We assessed the susceptibility of the company's financial statemenls to material misstatement, induding obtaining
an understanding of how fraud might occur, by.,
Identification of related parties.,
Making enquiries of management regarding where they Considered there was sus¢eptibility to fraud, their
knowledge of aGtual, suspecled 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 law5 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 detemiining 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 solely to the company's members, as a body, in a¢cordan¢e with the Companies Act 2006. Our
audit work has been undertaken so that we might state to the Company's members those matters we are required lo
state to them in an auditor's report and for no other purpose. To the fullest extent permitted by Iw, we do not accept
or assume responsibility to anyone other than the company and the company's members as a body, for our audit
work, tor this report, or for the opinions we have formed.
Jonathan R Bethel (Senior Statutory Auditor)
for and on behalf of Miscampbell & Co
29 August 2025
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 2025
Unrestricted Restricted
funds
funds
2025
2025
Total un￿strICted Restricted
funds
funds
2024
2024
Total
2025
2024
Notes
Income from:
Donations and legacies
Other trading activities
Investments
1,685
45,320
357
170,174
171,859
45,320
357
7,235
69,826
390
347,788
355,023
69,826
390
Totsl Income
47,362
170,174
217,536
77,451
347,788
425,239
Expenditure on:
Charitable activities
Other expenditure
256,017
284,171
540,188
158,111
65,410
286,948
445,059
65,410
11
Total expenditure
256,017
284,171
540,188
223,521
286.948
510,469
Net gainsl(losses) on
investments
12
26,250
26,250
58,484
58,484
Net expenditure
{182,405) (113,997) (296,402)
{87,586)
60,840
(26,746)
Transfers be￿een
funds
(220,000)
220,000
(5,820)
5,820
Net movement in
funds
(402,405)
106.003
(296,402)
(93,406)
66.660
(26,746)
Reconciliation of funds:
Fund balances at 1 April 2024
622.122
180,146
802,268
715,528
113,486
829,014
Fund balancos at 31 March
2025
219.717
286,149
505,866
622,122
180,146
802,268
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 2025
2025
2024
Notes
Fixed assets
Tangible assets
Investments
14
15
10,473
454,370
8,954
648,120
464,843
657,074
Current assets
Debtors
Cash at bank and in hand
16
539
46,438
882
150,527
46,977
151,409
Creditors: amounts falling due within
one year
17
(5,954)
(6,215)
Net current assets
41,023
145,194
Total assets less current liabilities
505,866
802,268
Income funds
Restricted funds
ricted f
Designated funds
General unrestricted funds
18
286,149
180,146
nre
19
118,379
101.338
338,379
283,743
219,717
622,122
505,866
802,268
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 2025, 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 2025
The financial statements were approved by the Trustees on 29 August 2025
Mr D Molloy
Trustee
Mr R Napier
Trustee
Company registration number N1632465
14-

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
Charlty information
Trauma & Orthopaedics 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 accordance 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 Pradice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by
FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statwnent of
Cash Flows.
The financial statements are prepared in sterling, which is the lunctional 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 TrLtstees
continue to adopt the going concem basis of accounting in preparing the finanGial 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
chartty.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met,
the amounts can be measured reliably. and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified
of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in
relation to donations received under Gift Aid or deeds of covenant 15 re¢ognised al the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution,
the amount is 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 2025
Accounting policies
{Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to
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 dIr￿l 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 be￿een those activities on a basis
consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and
depreciation charges are allocated on the portion of the asset's use.
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..
Fixlures and fittings
Office equipment
25 /0 Straight line
15 /0 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 Flxed 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 ind￿ation
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-term 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 re¢ognised in the charity's balance sheet when the charity becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities are oftset, with the net amount5 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 reali5e the asset and settle the liability simultaneously.
16-

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
(Continued)
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction pri¢e including transaction costs and are subsequently carried at amortised cost using the effective
interest method unless the arrangement ¢onstitutes 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
Basic financial liabilities, including creditors and bank loan5 are initially recognised at transaction price unless
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present
value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequently carried at amortised cost. using the effective interest rate method.
Trade creditors are obligations lo 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 liabilities. Trade creditors are reGognised initially at
transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial 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 estimatss 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 2025
Income from donations and legacies
Unrestricted Restricted
funds
funds
2025
2025
Total Unrestricted Restricted
funds
funds
2024
2024
Total
2025
2024
Donations and gifts
Grants
1,685
3.111
167,063
4,796
167,063
7,235
30,198
317,590
37,433
317,590
1,685
170,174
171,859
7,235
347,788
355,023
Income from other trading activities
Unrestricted Unrestricted
funds
funds
2025
2024
Fundraising events
45,320
69,826
Incom8 from investments
Unrestricted Unrestricted
funds
funds
2025
2024
Other income
357
390
18-

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Expenditure on charitable a¢tivities
Total
2025
Total
2024
Direct costs
Depreciation and impairment
4,141
3,189
Share of support and governance costs (see not8 7
Support
Governance
531,672
4,375
437,970
3,900
540,188
445.059
Analysis by fund
Unrestricted funds
Restricted funds
256,017
284,171
158,111
286.948
540.188
445,059
Support costs
Support Governance
costs
Costs
2025
Support Governance
costs
Gosts
2024
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
75,181
1.425
1.093
1,241
515
2,582
219
3,472
393,754
75,181
1,425
1.093
1,241
515
2,582
219
3,472
393,754
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
41,711
1,055
990
2,208
6,226
41,711
1,055
990
2,208
6,226
4,375
42,700
855
9,592
4,855
270
42,700
855
9,592
4,855
4,375
3,900
3,900
531,672
4,375
536,047
437,970
3,900
441,600
Analysed be￿een
Charitable activities
531.672
4.375
536,047
437,970
3,900
441,870
19-

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Net movement in funds
2025
2024
The net movement in funds is stated after chargingl(crediting)'.
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets
4,375
4,141
3,900
3,189
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..
2025
Number
2024
Number
Including Trustees
13
There were no employees whose annual remuneration was more than £60,000.
11 Other expenditure
Unrestricted Unrestricted
funds
funds
2025
2024
Other Expenditure
65,410
12 Gains and losses on Investments
Unrestricted Unrestricted
funds
funds
2025
2024
Gainsl(losses) arising on..
Revaluation of investments
26,250
58,484
13 Taxation
The charity 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 2025
14 Tangible fixed assets
Flxture$ and
rittings
Office
equiprnent
Total
Cost
At 1 April 2024
Additions
6,428
3,600
21,516
2,060
27,944
5,660
At 31 March 2025
10,028
23,576
33,604
Depreciation and impairment
At 1 April 2024
Depreciation Charged in the year
6,428
720
12,562
3,421
18,990
4,141
At 31 March 2025
7,148
15,983
23,131
Carrying amount
At 31 March 2025
2,880
7,593
10,473
At 31 March 2024
8,954
8,954
15 Fixed asset investments
Listed
Investments
Cost or valuation
At 1 April 2024
Additions
Withdrawals
648,120
26,250
{220,000)
At 31 March 2025
454,370
Carrying amount
At 31 March 2025
454,370
At 31 March 2024
648,120
16 Debtors
2025
2024
Amounts falling due within one year:
Prepayments and a¢¢rued income
539
882
21

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
17 Creditors: amounts falling due within one year
2025
2024
Accruals and deferred income
5,954
6,215
18 Rastrlcted 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
2024
Incoming
resources
Resources
expended
Transfers At 31 March
2025
PEI
DB ¢onsultancy
Dontation to TORC Fund
Depuy
TORC Room Refurbishment &
Staff Salaries
Ulster Garden villages
Kingsbridge Foundation
132,592
11,720
85,146
3,111
10,000
31,917
{139.404}
(1,203)
<10,000)
78,334
13,628
35,834
67,751
(93,564)
(20,000)
(20,000)
220,000
126,436
20.000
20.000
180,146
170,174
(284,171)
220,000
286,149
Previous year:
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
179,298>
{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
-22-

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
19 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are
not subject to specific conditions by donors and grantors as to how they may be used. These include
designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes
such as 2 years running costs to cover staff salaries.
At 1 April
2024
Incoming
resources
Resources
expended
Transfers
Gains and At 31 March
losses
2025
Designated
funds
General funds
338,379
283,743
(220,000)
118,379
101,338
47,362
(256,017)
26,250
622,122
47,362
{256,017)
(220,000)
26,250
219,717
Previous year:
At 1 April
2023
Incoming
sources
Resources
expended
Transfers
Gains and At 31 March
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
20 Analysis of net assets betwèen funds
Unrestricted
funds
2025
Restricted
funds
2025
Total
2025
At 31 March 2025:
Tangible assets
Investments
Current assetsl{liabilities)
7,931
454.370
(242,584)
2,542
10,473
454,370
41,023
283,607
219,717
286,149
505,866
Unrestricted
funds
2024
Restricted
funds
2024
Total
2024
At 31 March 2024:
Tangible assets
Investments
Current assetsl(liabilities)
4.887
648,120
(30,8851
4,067
8,954
648,120
145,194
176,079
622,122
180,146
802,268
-23-

TRAUMA & ORTHOPAEDICS RESEARCH CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
21 Related party transactions
There were no disclosable related party transactions during the year {2024- none).
-24-