Charity registration number 1037703
Company registration number 02823657 (England and Wales)
AIDS IMPACT
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
AIDS IMPACT
LEGAL AND ADMINISTRATIVE INFORMATION
Directors
Dr Jose Catalan
Prof Lorraine Sherr
Prof Richard Harding-Swale
Prof Lucie Cluver
Dr Kathryn Steventon
Secretary
Dr Jose Catalan
Charity number
1037703
Company number
02823657
Registered office
12 Henwood
Boars Hill
Oxford
OX1 5JX
Independent examiner
Paul Hutchison ACA
Azets Audit Services
Chartered Accountants
Quay 2
139 Fountainbridge
Edinburgh
EH3 9QG
Bankers
National Westminster Bank
244 King's Road
Chelsea
London
SW3 5XJ
Solicitors
Speechly Bircham LLP
6 New Street Square
London
EC4A 3XL
AIDS IMPACT
CONTENTS
Page
Directors' report
1 - 2
Independent examiner's report
3
Statement of financial activities
4
Balance sheet
5
Notes to the financial statements
6 - 10
AIDS IMPACT
DIRECTORS' REPORT (INCLUDING TRUSTEES' REPORT)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 1 -

The directors present their annual report and financial statements for the year ended 30 September 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements, the provisions of the Charities SORP (FRS102) "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financal Reporting Standard applicable in the UK and Republic of Ireland ("FRS 102")" (effective 1 January 2019), FRS 102 "the Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS 102"), the Companies Act 2006 and the Charities Act 2011.

Objectives and activities

Objectives

The objects of the charity are for the benefit of the public, to advance education about the biopsychosocial aspects and problems of HIV infection, in particular by holding international conferences.

 

The benefit provided is the opportunity for international delegates working in the HIV/AIDS field to meet, learn of the latest research and to exchange ideas.

 

Activities

The company was formed for the organisation of the second international conference on biopsychosocial aspects of HIV infection held in July 1994.

 

AIDS Impact continues its task of fostering educational activities related to the psychological and social aspects of HIV infection.

The directors have paid due regard to guidance issued by the Charity Commission in deciding what activities the charitable company should undertake.

Achievements and performance
Financial review

The overall net expenditure for the year is £34,116 (2023: net income £76,360). Net assets of £212,399 (2023: £246,515) primarily comprised cash at bank.

Reserves policy

The directors aim to retain sufficient reserves to provide assistance with future conferences and to facilitate the attendance of delegates at future conferences. Unrestricted reserves at the year end are £212,399 (2023: £246,515).

Risk policy

The directors has assessed the major risks to which the charitable company is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Plans for future

The charity intends to hold the 2025 meeting in Casablanca. The venue has been selected and the conference will be held on 26th-28th May 2025. Plans for the 2027 meeting are currently being considered, and this will most likely be held in the UK.

 

The directors are considering the long-term future of the charity beyond the 2027 conference as demand for its services continues to reduce. Amongst these considerations are a possible merger with another organisation, or winding up the charity and creating an AIDS fellowship in the Global South.

AIDS IMPACT
DIRECTORS' REPORT (INCLUDING TRUSTEES' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
Structure, governance and management

AIDS Impact, a charitable company limited by guarantee, was incorporated on 3 June 1993 and amended by special resolution dated 4 May 1994. It is governed by its memorandum and articles of association.

Directors
The directors who served during the year and to the date of signature of this report were as follows:
Dr Jose Catalan
Prof Lorraine Sherr
Prof Richard Harding-Swale
Prof Lucie Cluver
Dr Kathryn Steventon

Directors have powers to appoint new directors in terms of the articles of association.

 

All directors are familiar with the work of the charity. If there are any areas where additional training is required, this will be discussed at a directors’ meeting and a solution identified.

 

The day to day management of the charity is delegated to Dr Jose Catalan.

 

This report has been issued in accordance with the special provisions of Part 15 of the Companies Act relating to small entities.

The directors' report was approved by the Board of Directors.

Dr J Catalan
Director
Dated: 22 April 2025
AIDS IMPACT
INDEPENDENT EXAMINER'S REPORT
TO THE DIRECTORS OF AIDS IMPACT
- 3 -

I report on the financial statements of the charitable company for the year ended 30 September 2024, which are set out on pages 4 to 10.

Responsibilities and basis of report

As the directors of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charitable 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 the charitable company’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

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 that in any material respect:

1

accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements 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 financial statements 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 financial statements to be reached.

Azets Audit Services
Paul Hutchison ACA
Chartered Accountants
Institute of Chartered Accountants in England and Wales
Quay 2
Partner
139 Fountainbridge
Edinburgh
Dated: 24 April 2025
EH3 9QG
AIDS IMPACT
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
Unrestricted
Unrestricted
funds
funds
2024
2023
Notes
£
£
Income from:
Donations and legacies
3
-
93,611
Charitable activities
4
-
18,665
Investments
5
2,489
1,843
Total income
2,489
114,119
Expenditure on:
Charitable activities

Unrestricted funds

6
36,605
37,759
Total charitable expenditure
36,605
37,759
Net (expenditure)/income for the year/
Net movement in funds
(34,116)
76,360
Fund balances at 1 October 2023
246,515
170,155
Fund balances at 30 September 2024
212,399
246,515

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derives from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
AIDS IMPACT
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 5 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
10
9,590
25,252
Cash at bank and in hand
206,331
224,596
215,921
249,848
Creditors: amounts falling due within one year
11
(3,522)
(3,333)
Net current assets
212,399
246,515
Income funds
Unrestricted funds
212,399
246,515
212,399
246,515

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2024.

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.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Directors on 22 April 2025
Dr J Catalan
Director
Company Registration No. 02823657
AIDS IMPACT
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
1
Accounting policies
Charity information

Aids Impact is a private company limited by guarantee incorporated in England and Wales. The registered office is 12 Henwood, Boars Hill, Oxford, OX1 5JX, United Kingdom.

1.1
Accounting convention

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts, the provisions of the Charities SORP (FRS 102) "Accounting and Reporting by Charities: State of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stands applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019), FRS 102 "the Finanical Reporting Standard applicable in the UK and Republic of Ireland ("FRS 102"), the Companies Act 2006 and the Charities Act 2011.

 

The charitable company has taken advantage of the provisions in the SORP not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charitable company. 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

The charitable company has made a deficit in the current year, but has a strong cash and unrestricted reserves balance. Based on expected plans for the next 12 months, the directors are confident that the charitable company has sufficient reserves to fund its activities beyond this period. The directors have continued continued to prepare the financial statements on a going concern basis.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the directors in furtherance of their charitable objectives.

1.4
Income
Income is recognised when the charitable company 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 charitable company 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 is recognised at the time of the donation.

 

Conference income is recognised on performance of the event.

AIDS IMPACT
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 7 -
1.5
Expenditure and creditors

Expenditure is recognised when a legal or constructive obligation has been entered into and has been charged direct to charitable expenditure, cost of raising funds or governance costs.

 

Charitable expenditure comprises those costs incurred by the charitable company in the delivery of its activities and services for its beneficiaries.

 

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charitable company and include the accountancy fees and costs linked to the strategic management of the charitable company.

 

The company is not registered for VAT and accordingly expenditure includes VAT where appropriate.

 

Accruals are obligations to pay for goods or services that have been acquired. Accruals are recognised at the undiscounted amount owed to the supplier, which is normally the invoice price.

1.6
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.

1.7
Financial instruments

The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction 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.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charitable company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

AIDS IMPACT
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 8 -
Basic financial liabilities

Basic financial liabilities, including creditors and bank loans 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 to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised 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 charitable company’s contractual obligations expire or are discharged or cancelled.

1.8
Taxation

The charitable company is recognised by HMRC as a charity and accordingly there is no liability to taxation.

2
Critical accounting estimates and judgements

In the application of the charitable company’s accounting policies, the directors 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.

 

The directors are of the opinion that there are no significant estimates or judgments that would have a material impact on the financial statements.

3
Donations and legacies
2024
2023
£
£
Donations and gifts
-
82,012

Sponsorship

-
11,599
-
0
93,611
AIDS IMPACT
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 9 -
4
Charitable activities
2024
2023
£
£

Conference registration fees

-
18,665
5
Investments
2024
2023
£
£
Interest receivable
2,489
1,843
6
Charitable activities
2024
2023
£
£

Committee expenses: Travel and accommodation

-
2,252

Directors' expenses: Travel and accommodation

793
2,045

Conference costs

-
26,540

Administration costs

200
3,718

Publications

32,069
-
33,062
34,555
Share of governance costs (see note 7)
3,543
3,204
36,605
37,759
7
Support costs
Support costs
Governance costs
2024
Support     costs
Governance costs
2023
£
£
£
£
£
£
Independent examination fees
-
3,543
3,543
-
3,204
3,204
-
3,543
3,543
-
3,204
3,204
Analysed between
Charitable activities
-
3,543
3,543
-
3,204
3,204

 

AIDS IMPACT
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 10 -
8
Directors

No director received any remuneration during the year (2023: £nil). Four directors received reimbursement for expenses incurred on behalf of the charity totalling £793 (2023: £2,045). These were travel and similar expenses relating to the conference.

9
Employees

There were no employees in the current or prior year.

10
Debtors
2024
2023
Amounts falling due within one year:
£
£
Prepayments and accrued income
9,590
25,252
11
Creditors: amounts falling due within one year
2024
2023
£
£
Accruals
3,522
3,333
12
Related party transactions

During the year, the charity paid the sum of £nil (2023 - £3,035) to Cheryl Tapnack for administration services. Cheryl Tapnack is the sister of Prof Lorraine Sherr, a director of the charity.

 

During the year, the charity reimbursed the sum of £nil (2023 - £166) to Ari Sherr in respect of travel expenses incurred in his capacity as a volunteer of the charity. Ari Sherr is the son of Prof Lorraine Sherr, a director of the charity.

2024-09-302023-10-01falsefalseCCH SoftwareiXBRL Review & Tag 2024.2028236572023-10-012024-09-30028236572024-09-30028236572023-09-3002823657bus:FRS1022023-10-012024-09-3002823657char:IndependentExaminationCharity2023-10-012024-09-3002823657bus:FullAccounts2023-10-012024-09-30xbrli:purexbrli:sharesiso4217:GBP