REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 January 2024 |
for |
Diabetes Care Trust (ABCD) Limited |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 January 2024 |
for |
Diabetes Care Trust (ABCD) Limited |
Diabetes Care Trust (ABCD) Limited |
Contents of the Financial Statements |
for the Year Ended 31 January 2024 |
Page |
Reference and Administrative Details | 1 |
Report of the Trustees | 2 | to | 5 |
Independent Examiner's Report | 6 |
Statement of Financial Activities | 7 |
Balance Sheet | 8 | to | 9 |
Notes to the Financial Statements | 10 | to | 19 |
Diabetes Care Trust (ABCD) Limited |
Reference and Administrative Details |
for the Year Ended 31 January 2024 |
TRUSTEES |
COMPANY SECRETARY | Dr H Price |
REGISTERED OFFICE |
REGISTERED COMPANY NUMBER |
REGISTERED CHARITY NUMBER |
INDEPENDENT EXAMINER | Evelyn Partners (Leeds) Limited |
Accountants |
3rd Floor |
56 Wellington Street |
Leeds |
West Yorkshire |
LS1 2EE |
Diabetes Care Trust (ABCD) Limited (Registered number: 07248361) |
Report of the Trustees |
for the Year Ended 31 January 2024 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 January 2024. The trustees have adopted the provisions of 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). |
OBJECTIVES AND ACTIVITIES |
POLICIES AND OBJECTIVES |
Diabetes Care Trust (ABCD) Limited (DCT) was established in 2012 (replacing the 10 year-old ABCD Charitable Trust) to oversee and support the work of the Association of British Clinical Diabetologists (Diabetes Care) Limited (henceforth referred to as ABCD), which is responsible for delivering professional education and public awareness programmes as well as initiating and supervising clinical research and audit studies. |
The stated objectives of DCT are 'to advance and encourage the education and training of all medical and other health care professionals involved with the care of those suffering from diabetes; to advance the knowledge of the public in all matters relating to diabetes mellitus and diabetes care.' |
ACHIEVEMENT AND PERFORMANCE |
GOING CONCERN |
After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue on operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. |
INVESTMENT POLICY AND PERFORMANCE |
DCT is taking ongoing advice about its investment strategy for a proportion of its reserves in a climate of low interest rates. |
Diabetes Care Trust (ABCD) Limited (Registered number: 07248361) |
Report of the Trustees |
for the Year Ended 31 January 2024 |
ACHIEVEMENT AND PERFORMANCE |
REVIEW OF ACTIVITIES |
The latest Diabetes Care Trust accounts are for the year ending 31 January 2024 are presented here. |
All major funds are held in Unity Trust Bank. £450,000 from DCT funds is invested separately (£200,000 from February 2017 & £250,000 from March 2023) worth £490,680 on 31 January 2024. |
As of 31st of January 2024 the charitable trust's net assets were £1,878,975 compared with £1,603,528 at the same time in the previous year, an increase of £275,447. Of these funds £748,109 is held in restricted funds (£514,314 in 2023) and £1,130,866 in unrestricted funds (an increase of £41,652). |
Income |
The association (ABCD Ltd) provided a dividend to the charitable trust (DCT) in 2023 of £189,452, and thereby there has been an increase in the DCT dividend, donations & legacies line from £96,047 to £193,045. |
Other income |
The ABCD audit portfolio generated the following movement in restricted funds, held within the DCT accounts as of 31/01/24 |
- Semaglutide audit £249,953 (total on 31/1/23 £269,901) |
- Libre audit £250,251 (total on 31/1/23 £156,128) |
- Testosterone audit £80,235 (total on 31/1/23 £95,112) |
- Canagliflozin audit £11,422 (total on 31/1/23 £31,300) |
- Empagliflozin audit £36,610 (total on 31/1/23 £16,732) |
- COVID diabetes national audit £0 (total on 31/1/23 £19,365) |
- National audit £0 (total on 31/1/23 £649) |
- Liraglutide audit £22,540 (total on 31/1/23 £22,540) |
- Degludec audit £12,516 (total on 31/1/23 £12,516) |
- Omnipod audit £61,777 (total on 31/1/23 £49,854) |
- DKA audit £55,902 (total on 31/1/23 £0) |
- Dexcom audit £40,123 (total on 31/1/23 £0) |
A review of the legacy audit contracts is planned to ascertain if the audit funds in projects now completed can be moved into the unrestricted accounts. If contractually required, the original funders will be contacted for permission to convert the remaining funds to unrestricted so they can be used for DCT funding of activities other than audit work. All new contracts will require funding granted such to be unrestricted. |
DCT has a direct grant awarding role with a commitment to support awards of 2 annual grants for a |
value of £50,000/grant. Expenses related to this activity totalled £10,887 in 2023 but is expected to increase substantially once grants are drawn. |
Accountancy, banking, insurance and related expenses amounted to £5,588 for 2024. |
FINANCIAL REVIEW |
RESERVES POLICY |
The Trustees accepted a change to the reserves policy in November 2014. Group reserves should now cover the running costs of the Association for one, rather than two years. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
GOVERNING DOCUMENT |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
Diabetes Care Trust (ABCD) Limited (Registered number: 07248361) |
Report of the Trustees |
for the Year Ended 31 January 2024 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
CONSTITUTION |
The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association. |
The company is constituted under a Memorandum of Association and is registered number charity number 1139057. |
METHOD 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 Articles of Association. |
The trustees are appointed by invitation of the Board and have to be confirmed each year at the AGM of the Association. |
ORGANISATIONAL STRUCTURE AND DECISION MAKING |
The company is limited by guarantee and registered as a charity under the Charities Act 1993. It is governed by its Memorandum and Articles of Association issued on 5 May 2010. The company enjoys charitable status for taxation purposes. |
No trustee has any beneficial interest in the charitable company. (All trustees are members of the company and guarantee to contribute a maximum of £1 each in the event of a winding up. The number of guarantees at 31 January 2021 was fourteen). |
ABCD (Diabetes Care) Limited, a company incorporated in England & Wales, is the wholly owned subsidiary of Diabetes Care Trust (ABCD) Limited. The trustees, of which at present there are fourteen, provide the strategic direction of the charity. |
POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES |
Any new trustees undergo an orientation day to brief them on their legal obligations under the Charity and Company Law, the content of the Memorandum and Articles of Association and the processes on decision making within the organisation. The Charity encourages trustees to attend, at their discretion, appropriate external training events where these will be of use for the undertaking of the role. A training update will be held immediately before the AGM. |
RISK MANAGEMENT |
The trustees have a risk management strategy that includes: |
i) An annual review of the risks the charity may face; |
ii) The establishment of systems and procedures to mitigate those risk identified in the plan; |
iii) The implementation of procedures designed to minimise any potential impact on the charity should they materialise. |
Financial risk is mitigated by frequent reports and checks on the charity's finance pursued by the treasurer and reported to the trustees. Compliance with relevant laws is discussed and procedures implemented by the Board of trustees. |
The policies of risk management are continuously reviewed to ensure they still meet the needs the charity. |
ASSETS HELD ON BEHALF OF ANOTHER CHARITY |
There are no assets held on behalf of another charity. |
CONTROLLING PARTY |
There was no controlling party as at the period end. |
Approved by order of the board of trustees on |
Diabetes Care Trust (ABCD) Limited (Registered number: 07248361) |
Report of the Trustees |
for the Year Ended 31 January 2024 |
Independent Examiner's Report to the Trustees of |
Diabetes Care Trust (ABCD) Limited |
Independent examiner's report to the trustees of Diabetes Care Trust (ABCD) Limited ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 January 2024. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
Matthew Barton BA (Hons) FCA CTA |
Evelyn Partners (Leeds) Limited |
Accountants |
3rd Floor |
56 Wellington Street |
Leeds |
West Yorkshire |
LS1 2EE |
12 August 2024 |
Diabetes Care Trust (ABCD) Limited |
Statement of Financial Activities |
for the Year Ended 31 January 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | ( |
) |
Charitable activities |
Investment income | 3 |
Total |
EXPENDITURE ON |
Raising funds | 4 |
Charitable activities |
Total |
Net gains/(losses) on investments | ( |
) |
NET INCOME/(EXPENDITURE) | ( |
) |
Transfers between funds | 11 | (106,536 | ) | 106,536 | - | - |
Net movement in funds | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 1,603,528 |
Diabetes Care Trust (ABCD) Limited (Registered number: 07248361) |
Balance Sheet |
31 January 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 8 |
CURRENT ASSETS |
Debtors | 9 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 10 | ( |
) | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 11 |
Unrestricted funds | 1,089,214 |
Restricted funds | 514,314 |
TOTAL FUNDS | 1,603,528 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
Diabetes Care Trust (ABCD) Limited (Registered number: 07248361) |
Balance Sheet - continued |
31 January 2024 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Diabetes Care Trust (ABCD) Limited |
Notes to the Financial Statements |
for the Year Ended 31 January 2024 |
1. | GENERAL INFORMATION |
Diabetes Care Trust (ABCD) Limited is a charitable company, limited by guarantee, incorporated in England and Wales under the company number 07248361 and charity number 1139057. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. |
Going Concern |
The financial statements have been prepared on a going concern basis. The Director has reviewed and considered relevant information, in making their assessment. Based on these assessments, given the measures that could be undertaken to mitigate the current uncertain wider economic conditions, and the current resources available, the Director has concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts |
Company status |
The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. |
Income |
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. |
For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the |
executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. |
Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees' report for more information about their contribution. |
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the company which is the amount the company would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. |
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. |
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. |
Diabetes Care Trust (ABCD) Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Charitable activities and Governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities. |
Grants payable are charged in the year when the offer is made except in those cases where the |
offer is conditional, such grants being recognised as expenditure when the conditions attaching are |
fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as |
a commitment, but not accrued as expenditure.ted to activities on a basis consistent with the use of resources. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Interest receivable |
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank. |
Debtors |
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. |
Cash at Bank and in hand |
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. |
Liabilities and provisions |
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects risk specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges. |
Financial instruments |
Diabetes Care Trust (ABCD) Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
2. | ACCOUNTING POLICIES - continued |
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective method. |
Investments |
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading 'Gains/(losses) on investments' in the statement of financial activities incorporating income and expenditure account. |
Consolidation |
In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts. |
3. | INVESTMENT INCOME |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Dividend income | 193,045 | - | 193,045 | 96,047 |
Interest received | 6,843 | - | 6,843 | - |
199,888 | - |
4. | RAISING FUNDS |
Raising donations and legacies |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Support costs | 10,279 | - |
Investment management costs |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Support costs | 3,512 | - | 3,512 | 1,721 |
Aggregate amounts | 13,791 | - | 13,791 | 10,650 |
Diabetes Care Trust (ABCD) Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
5. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 January 2024 nor for the year ended 31 January 2023. |
6. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
2024 | 2023 |
Directors |
The company has no employees other than the Trustees, who did not receive any remuneration (2023 - £Nil). |
No employee received remuneration amounting to more than £60,000 in either year. |
7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | ( |
) |
Charitable activities |
Investment income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
Net gains/(losses) on investments | ( |
) | ( |
) |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 1,085,987 | 533,180 |
TOTAL FUNDS CARRIED FORWARD | 1,089,214 | 514,314 | 1,603,528 |
Diabetes Care Trust (ABCD) Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
8. | FIXED ASSET INVESTMENTS |
Shares in |
group | Listed | Other |
undertakings | investments | investments | Totals |
£ | £ | £ | £ |
MARKET VALUE |
At 1 February 2023 | 215,963 |
Additions | 352,145 |
Disposals | ( |
) | ( |
) | (107,485 | ) |
Revaluations | ( |
) | 30,058 |
At 31 January 2024 | 490,681 |
NET BOOK VALUE |
At 31 January 2024 | 1 | 456,620 | 34,060 | 490,681 |
At 31 January 2023 | 1 | 195,350 | 20,612 | 215,963 |
There were no investment assets outside the UK. |
Cost or valuation at 31 January 2024 is represented by: |
Shares in |
group | Listed | Other |
undertakings | investments | investments | Totals |
£ | £ | £ | £ |
Valuation in 2024 | 1 | 456,620 | 34,060 | 490,681 |
The company owns 100% of the issued share capital of ABCD (Diabetes Care) Limited, a company |
incorporated and registered in England and Wales. The aggregate capital and reserves of the company at 31 January 2024 were £81,992 (2023: £190,808). The profit of the company for the year to 31 January 2024 was £80,636 (2023: £189,452). The loss of the company for the year to 31 January 2024 was Nil (2023:Nil). |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed by group undertakings |
VAT |
Diabetes Care Trust (ABCD) Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed to group undertakings |
Accruals and deferred income |
11. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1/2/23 | in funds | funds | 31/1/24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 1,089,214 | 148,188 | (106,536 | ) | 1,130,866 |
Restricted funds |
National Audit Programmes | (649 | ) | (231 | ) | 880 | - |
Endobarrier | (13,548 | ) | - | 13,548 | - |
National Liragutide & Exenatide Scheme |
22,540 |
- |
- |
22,540 |
Revise Research Project | (228 | ) | - | 228 | - |
Degludec Nationwide Audit | 12,516 | - | - | 12,516 |
Nationwide Audit Therapies Audit fund | (42 | ) | - | 42 | - |
Canagliflozin audit | 31,300 | (19,878 | ) | - | 11,422 |
Libre audit | 156,128 | 94,123 | - | 250,251 |
Testosterone audit | 95,112 | (14,877 | ) | - | 80,235 |
Semaglutide audit | 269,901 | (19,948 | ) | - | 249,953 |
Empagliflozin audit | (16,732 | ) | (19,878 | ) | - | (36,610 | ) |
ABCD Research Fellows | (72,473 | ) | - | 72,473 | - |
COVID Diabetes National Audit | (19,365 | ) | - | 19,365 | - |
Omnipod Audit | 49,854 | 11,923 | - | 61,777 |
DKA Audit | - | 55,902 | - | 55,902 |
Dexcom Audit | - | 40,123 | - | 40,123 |
127,259 |
TOTAL FUNDS | 275,447 | 1,878,975 |
Diabetes Care Trust (ABCD) Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
11. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 200,186 | (81,955 | ) | 29,957 | 148,188 |
Restricted funds |
National Audit Programmes | - | (231 | ) | - | (231 | ) |
Canagliflozin audit | (1 | ) | (19,877 | ) | - | (19,878 | ) |
Libre audit | 114,000 | (19,877 | ) | - | 94,123 |
Testosterone audit | 20,000 | (34,877 | ) | - | (14,877 | ) |
Semaglutide audit | - | (19,948 | ) | - | (19,948 | ) |
Empagliflozin audit | (1 | ) | (19,877 | ) | - | (19,878 | ) |
Omnipod Audit | 12,200 | (277 | ) | - | 11,923 |
DKA Audit | 59,817 | (3,915 | ) | - | 55,902 |
Dexcom Audit | 60,000 | (19,877 | ) | - | 40,123 |
( |
) | 127,259 |
TOTAL FUNDS | ( |
) | 275,447 |
Comparatives for movement in funds |
Net |
movement | At |
At 1/2/22 | in funds | 31/1/23 |
£ | £ | £ |
Unrestricted funds |
General fund | 1,085,987 | 3,227 | 1,089,214 |
Restricted funds |
National Audit Programmes | (573 | ) | (75 | ) | (648 | ) |
Endobarrier | - | (13,548 | ) | (13,548 | ) |
National Liragutide & Exenatide Scheme |
22,540 |
- |
22,540 |
Revise Research Project | - | (228 | ) | (228 | ) |
Degludec Nationwide Audit | 12,516 | - | 12,516 |
Nationwide Audit Therapies Audit fund | - | (42 | ) | (42 | ) |
Canagliflozin audit | 44,847 | (13,548 | ) | 31,299 |
Libre audit | 130,876 | 25,252 | 156,128 |
Testosterone audit | 41,479 | 53,633 | 95,112 |
Semaglutide audit | 284,201 | (14,300 | ) | 269,901 |
Empagliflozin audit | (3,185 | ) | (13,548 | ) | (16,733 | ) |
ABCD Research Fellows | - | (72,473 | ) | (72,473 | ) |
COVID Diabetes National Audit | (18,405 | ) | (960 | ) | (19,365 | ) |
Omnipod Audit | 18,884 | 30,971 | 49,855 |
533,180 | (18,866 | ) | 514,314 |
TOTAL FUNDS | 1,619,167 | (15,639 | ) | 1,603,528 |
Diabetes Care Trust (ABCD) Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
11. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 96,098 | (73,135 | ) | (19,736 | ) | 3,227 |
Restricted funds |
National Audit Programmes | - | (75 | ) | - | (75 | ) |
Endobarrier | - | (13,548 | ) | - | (13,548 | ) |
Revise Research Project | - | (228 | ) | - | (228 | ) |
Nationwide Audit Therapies Audit fund | - | (42 | ) | - | (42 | ) |
Canagliflozin audit | - | (13,548 | ) | - | (13,548 | ) |
Libre audit | 69,200 | (43,948 | ) | - | 25,252 |
Testosterone audit | 82,798 | (29,165 | ) | - | 53,633 |
Semaglutide audit | (1 | ) | (14,299 | ) | - | (14,300 | ) |
Empagliflozin audit | - | (13,548 | ) | - | (13,548 | ) |
ABCD Research Fellows | - | (72,473 | ) | - | (72,473 | ) |
COVID Diabetes National Audit | - | (960 | ) | - | (960 | ) |
Omnipod Audit | 48,800 | (17,829 | ) | - | 30,971 |
200,797 | (219,663 | ) | - | (18,866 | ) |
TOTAL FUNDS | 296,895 | (292,798 | ) | (19,736 | ) | (15,639 | ) |
Diabetes Care Trust (ABCD) Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
11. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1/2/22 | in funds | funds | 31/1/24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 1,085,987 | 151,415 | (106,536 | ) | 1,130,866 |
Restricted funds |
National Audit Programmes | (573 | ) | (306 | ) | 880 | 1 |
Endobarrier | - | (13,548 | ) | 13,548 | - |
National Liragutide & Exenatide Scheme |
22,540 |
- |
- |
22,540 |
Revise Research Project | - | (228 | ) | 228 | - |
Degludec Nationwide Audit | 12,516 | - | - | 12,516 |
Nationwide Audit Therapies Audit fund | - | (42 | ) | 42 | - |
Canagliflozin audit | 44,847 | (33,426 | ) | - | 11,421 |
Libre audit | 130,876 | 119,375 | - | 250,251 |
Testosterone audit | 41,479 | 38,756 | - | 80,235 |
Semaglutide audit | 284,201 | (34,248 | ) | - | 249,953 |
Empagliflozin audit | (3,185 | ) | (33,426 | ) | - | (36,611 | ) |
ABCD Research Fellows | - | (72,473 | ) | 72,473 | - |
COVID Diabetes National Audit | (18,405 | ) | (960 | ) | 19,365 | - |
Omnipod Audit | 18,884 | 42,894 | - | 61,778 |
DKA Audit | - | 55,902 | - | 55,902 |
Dexcom Audit | - | 40,123 | - | 40,123 |
533,180 | 108,393 | 106,536 | 748,109 |
TOTAL FUNDS | 1,619,167 | 259,808 | - | 1,878,975 |
Diabetes Care Trust (ABCD) Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
11. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 296,284 | (155,090 | ) | 10,221 | 151,415 |
Restricted funds |
National Audit Programmes | - | (306 | ) | - | (306 | ) |
Endobarrier | - | (13,548 | ) | - | (13,548 | ) |
Revise Research Project | - | (228 | ) | - | (228 | ) |
Nationwide Audit Therapies Audit fund | - | (42 | ) | - | (42 | ) |
Canagliflozin audit | (1 | ) | (33,425 | ) | - | (33,426 | ) |
Libre audit | 183,200 | (63,825 | ) | - | 119,375 |
Testosterone audit | 102,798 | (64,042 | ) | - | 38,756 |
Semaglutide audit | (1 | ) | (34,247 | ) | - | (34,248 | ) |
Empagliflozin audit | (1 | ) | (33,425 | ) | - | (33,426 | ) |
ABCD Research Fellows | - | (72,473 | ) | - | (72,473 | ) |
COVID Diabetes National Audit | - | (960 | ) | - | (960 | ) |
Omnipod Audit | 61,000 | (18,106 | ) | - | 42,894 |
DKA Audit | 59,817 | (3,915 | ) | - | 55,902 |
Dexcom Audit | 60,000 | (19,877 | ) | - | 40,123 |
466,812 | (358,419 | ) | - | 108,393 |
TOTAL FUNDS | 763,096 | (513,509 | ) | 10,221 | 259,808 |
12. | RELATED PARTY DISCLOSURES |
Advantage has been taken of the exemption in SORP 2015 (FRS 102) not to disclose any transactions between the company and the subsidiary company ABCD (Diabetes Care) Limited, of which it owns 100% of the voting rights, or with BJDVD Limited, which is a 100% subsidiary of ABCD (Diabetes Care) Limited.. |
No further transactions with related parties were undertaken such as are required to be disclosed under SORP 2015 (FRS 102). |