REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements for the Year Ended 30 June 2024 |
for |
Nicola Murray Foundation |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements for the Year Ended 30 June 2024 |
for |
Nicola Murray Foundation |
Nicola Murray Foundation |
Contents of the Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Report of the Trustees | 1 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 |
Notes to the Financial Statements | 7 |
Nicola Murray Foundation (Registered number: SC380868) |
Report of the Trustees |
for the Year Ended 30 June 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 30 June 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 |
Objectives and aims |
The objectives of the charity are: |
The advancement of science; and |
To support research relating to hereditary nonpolyposis colorectal cancer genetics and/or relating to ovarian cancer. |
Significant activities |
During the year the charity collected funding from many fundraising activities, including coffee mornings, sponsored walks, runs, climbs and cycles. |
We are very grateful to our fundraisers and partners continued support. |
The Charity continues to work in partnership with Edinburgh University cancer researchers to improve the diagnosis, treatment and outcome for those with Ovarian Cancer. |
FINANCIAL REVIEW |
Financial review |
During the year Nicola Murray Foundation had income of £18,538 (2023: £12,495) and expenditure of £1,947 (2023: £784). This has led to a surplus for the year of £16,591(2023: £11,711). |
At the year end there are reserves of £77,824 with no restricted funds (2023: £61,233). |
Reserves policy |
The policy of the charity is to build up reserves for donation to appropriate medical research projects. |
The reserves retained at the year end are rolled over annually, and donated for research as appropriate. |
Edinburgh University keep the charity appraised of the funds usage and if there is an opportunity for very specific funding that fits in with the charity's objects. |
At the year end funds carried forward are £77,824 (2023: £61,233). There are no restricted funds. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
Nicola Murray Foundation is a company limited by guarantee governed by its Memorandum & Articles of Association. It was incorporated on 23 June 2010 and became a registered charity on 24 September 2010. |
Recruitment and appointment of new trustees |
As a small charity there is no formal policy for recruitment and appointment of new trustees. Any new Trustees will be appointed by the current trustee and founder. |
Induction and training of new trustees |
All new trustees are made aware of their responsibilities as trustees and made aware of the charity's objectives. |
Nicola Murray Foundation (Registered number: SC380868) |
Report of the Trustees |
for the Year Ended 30 June 2024 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Risk management |
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.They have done this and believe they have sufficient reserves to meet the company's objectives for at least three months. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Independent Examiner |
Mathew Gillies LLB (Hons) ACPA FCIE |
Cowan & Partners Limited |
60 Constitution Street |
Edinburgh |
EH6 6RR |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Nicola Murray Foundation |
I report on the accounts for the year ended 30 June 2024 set out on pages four to ten. |
Respective responsibilities of trustees and examiner |
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention. |
Basis of the independent examiner's report |
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. |
Independent examiner's statement |
In connection with my examination, no matter has come to my attention : |
(1) | which gives me reasonable cause to believe that, in any material respect, the requirements |
- | to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and |
- | to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations |
have not been met; or |
(2) | to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. |
Mathew Gillies LLB (Hons) ACPA FCIE |
Full member of the Association of Charity Independent Examiners |
Cowan & Partners Limited |
60 Constitution Street |
Edinburgh |
EH6 6RR |
19 March 2025 |
Nicola Murray Foundation |
Statement of Financial Activities |
(Incorporating an Income and Expenditure Account) |
for the Year Ended 30 June 2024 |
30.6.24 | 30.6.23 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
EXPENDITURE ON |
Raising funds | 3 |
Charitable activities | 4 |
Total |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 61,233 |
CONTINUING OPERATIONS |
All income and expenditure has arisen from continuing activities. |
The statement of financial activities includes all gains and losses recognised in the year . |
Nicola Murray Foundation (Registered number: SC380868) |
Balance Sheet |
30 June 2024 |
30.6.24 | 30.6.23 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 9 |
Unrestricted funds | 61,233 |
TOTAL FUNDS | 61,233 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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. |
Nicola Murray Foundation (Registered number: SC380868) |
Balance Sheet - continued |
30 June 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 |
Nicola Murray Foundation |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | 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. |
The accounts are presented in sterling which is the charity's functional currency, and rounded to the nearest pound. |
No changes have been made to the basis of preparing the financial statements this year or to the previous year's financial statements. |
Going Concern |
The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern as demonstrated in the reserves policy on page 1. Therefore the accounts are prepared on a going concern basis. |
Critical accounting judgements and key sources of estimation uncertainty |
The preparation of the financial statements conforms with the requirements of the Charities SORP and general accepted accounting principles, No accounting estimates or judgments have been applied. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated 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. |
Measurement of Debtors |
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net or any trade discounts due. |
Cash at Bank and on Hand |
Cash at bank and cash in hand includes cash and any 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. |
Creditors and Loans |
Nicola Murray Foundation |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
1. | ACCOUNTING POLICIES - continued |
Creditors and loans are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and loans are normally recognised at their settlement amount after allowing for any trade discounts due. |
VAT |
Nicola Murray Foundation is not VAT registered and therefore all expenses are recognised gross of VAT. |
2. | DONATIONS AND LEGACIES |
30.6.24 | 30.6.23 |
£ | £ |
Donations |
Gift aid |
3. | RAISING FUNDS |
Raising donations and legacies |
30.6.24 | 30.6.23 |
£ | £ |
Collection charges |
4. | CHARITABLE ACTIVITIES COSTS |
Direct | Support |
Costs | costs | Totals |
£ | £ | £ |
General | 953 | 550 | 1,503 |
5. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 30 June 2024 nor for the year ended 30 June 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023. |
Nicola Murray Foundation |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 61,233 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Accrued expenses |
9. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.7.23 | in funds | 30.6.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 61,233 | 16,591 | 77,824 |
TOTAL FUNDS | 16,591 | 77,824 |
Nicola Murray Foundation |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
9. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 18,538 | (1,947 | ) | 16,591 |
TOTAL FUNDS | ( |
) | 16,591 |
Comparatives for movement in funds |
Net |
movement | At |
At 1.7.22 | in funds | 30.6.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 49,522 | 11,711 | 61,233 |
TOTAL FUNDS | 49,522 | 11,711 | 61,233 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 12,495 | (784 | ) | 11,711 |
TOTAL FUNDS | 12,495 | (784 | ) | 11,711 |
10. | RELATED PARTY DISCLOSURES |
There were no related party transactions for the year ended 30 June 2024 or 30 June 2023 |