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Registered number: 02970800
Charity number: 1041307
ARK MEDICAL TRUST
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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ARK MEDICAL TRUST
(A company limited by guarantee)
CONTENTS
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Reference and administrative details of the Company, its Trustees and advisers
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Statement of financial activities
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Notes to the financial statements
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ARK MEDICAL TRUST
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2025
Trustees
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M Rees (deceased 26 November 2025)
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M C D Roberts (resigned 12 November 2024)
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Company registered number
02970800
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Charity registered number
1041307
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Registered office
Victoria House, 39 Winchester Street, Basingstoke, Hampshire, RG21 1EQ
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Principal operating office
Ark Centre, Dinwoodie Drive, Basingstoke, Hampshire, RG24 9NN
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Company secretary
R G Finlayson
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Accountants
Shaw Gibbs Limited, Wey Court West, Union Road, Farnham, Surrey, GU9 7PT
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Solicitors
Lamb Brooks LLP, Basingstoke
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ARK MEDICAL TRUST
(A company limited by guarantee)
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees present their annual report together with the financial statements of the Company for the year 1 April 2024 to 31 March 2025. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
l Policies and objectives
The objectives of the Charity continue to be providing and advancing the study and general knowledge of science and medicine, surgery and dentistry which is achieved by the charity's wholly owned subsidiary which operates a conferencing and education facility with particular emphasis in the medical sector. We also offer sponsorship for the use of the ARK Centre by patient and other community groups.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Achievements and performance
l Review of activities
Throughout the year, the Charity continued its support with providing a secure and uplifting environment for community groups, facilitating their activities without imposing significant financial burdens on their members, by funding room hire at the Ark Conference Centre. This support has been instrumental in enabling various community groups to meet over many years, collaborate, and share experiences. Beneficiaries of our Community Support funding during the year, include Basingstoke Breast Care, Prostate PRISM, Look Good Feeling Better, Gynae Support Group, Focus Group, and the Endometriosis Group.
We express our gratitude to all those who have supported us, including our dedicated Trustees, Ark Employees and Community Partners. The Charity remains committed to ensuring that individuals and groups have access to a supportive environment for their activities.
Financial review
l Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
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ARK MEDICAL TRUST
(A company limited by guarantee)
Financial review (continued)
l Reserves policy
It is the policy of the Charity to aim to build its free reserves to a level which equates to approximately a year's unrestricted expenditure. The trustees consider that this would provide sufficient funds to cover costs and to respond to any emergency needs, which may arise from time to time.
Structure, governance and management
l Constitution and Governing document
Ark Medical Trust is a Company Limited by Guarantee, not having Share Capital, and is governed by its Memorandum and Articles of Association dated 23rd September 1994. It is registered as a charity with the Charity Commission.
Charity number: 1041307
Company number: 02970800
The Charity currently has no members other than the Trustees each of whom agree to contribute no more than £1 in the event of the Charity winding up.
l Directors and Trustees
The directors of the charitable company ("the Charity") are its Trustees for the purpose of charity law and throughout this report are collectively referred to as "The Board". New Trustees are appointed at the discretion of the existing Trustees. Many of the Trustees have served a period of over 10 years. Due to their knowledge and the expertise they bring to the board we are delighted they have chosen to remain. There has been difficulty attracting new members to take their place.
As set out in the Articles of Association the Chairman of the Trustees is nominated by the Board.
At each Annual General Meeting one third of the members of the Board retire from office. Those members to retire are those who have been longest in office since their last election or appointment. A retiring member of the Board is eligible for re-election.
The Trustees report with sadness the death of Merv Rees on 26th November 2025. He was the driving force behind the fundraising that led to the building of the Ark Conference Centre and the numerous successful events held there.
l Trustee induction and training
New Trustees undergo orientation to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making processes, the business plan and recent financial performance of the Charity.
Trustees meet regularly at The Ark Conference Centre and are made aware of changes relating to the running of the Charity.
l Risk management
Risk Assessment Record is reviewed annually with detailed discussions taking place of any changes to the perceived exposure to certain areas of risk. The Conflict of Interest Register is also reviewed annually to reflect any changes.
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ARK MEDICAL TRUST
(A company limited by guarantee)
Structure, governance and management (continued)
Plans for future periods
Following Covid the popularity of online conferences and other events has meant that the trading subsidiary Ark Conference Centre Limited could no longer trade profitably and has had to close its activities. The headlease from the hospital was has been surrendered back to the hospital in January 2026, and the Conference Centre will be run by the hospital and used, in accordance with the original objectives, for medical training.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial period. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
∙select suitable accounting policies and then apply them consistently;
∙observe the methods and principles of the Charities SORP (FRS 102);
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Members' liability
The Members of the Company guarantee to contribute an amount not exceeding £1 to the assets of the Company in the event of winding up.
Small companies
In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
Approved by order of the members of the board of Trustees and signed on their behalf by:
C I O Brookes
(Chair of Trustees)
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ARK MEDICAL TRUST
(A company limited by guarantee)
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ARK MEDICAL TRUST
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2025
Net (expenditure)/income before net losses on investments
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Net losses on investments
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Total funds brought forward
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Total funds carried forward
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ARK MEDICAL TRUST
(A company limited by guarantee)
REGISTERED NUMBER: 02970800
BALANCE SHEET
AS AT 31 MARCH 2025
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Creditors: amounts falling due within one year
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The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
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ARK MEDICAL TRUST
(A company limited by guarantee)
REGISTERED NUMBER: 02970800
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
C I O Brookes
(Chair of Trustees)
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The notes on pages 9 to 23 form part of these financial statements.
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ARK MEDICAL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Ark Medical Trust, is a private 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.
The Company is incorporated in England & Wales and its registered office address is Victoria House, 39 Winchester Street, Basingstoke, Hampshire, RG21 1EQ.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Ark Medical Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
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.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
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ARK MEDICAL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
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 institution with whom the funds are deposited.
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Tangible fixed assets and depreciation
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Tangible fixed assets costing £250 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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Fixtures, fittings and equipment
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Artwork is not depreciated.
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ARK MEDICAL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Investments in subsidiaries are valued at cost less provision for impairment.
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 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.
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Liabilities and provisions
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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 the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
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 interest method.
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
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ARK MEDICAL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Income from donations and legacies
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Income from other trading activities
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Income from fundraising events
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Interest receivable - restricted
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ARK MEDICAL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Expenditure on raising funds
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Costs of raising voluntary income
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Analysis of expenditure on charitable activities
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Analysis of expenditure by activities
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ARK MEDICAL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
8.Analysis of expenditure by activities (continued)
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Analysis of support costs
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General teaching fund
2025
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The average number of persons employed by the Company during the year was as follows:
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The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
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In the band £80,001 - £90,000
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ARK MEDICAL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Trustees' remuneration and expenses
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During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).
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During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL).
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Plant, machinery & fixtures
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ARK MEDICAL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Investments in subsidiary companies
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Impairment on revaluation
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ARK MEDICAL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Fixed asset investments (continued)
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The following was a subsidiary undertaking of the Company:
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Registered office or principal place of business
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The Ark Conference Centre Limited
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Dinwoodie Drive, Basingstoke, Hampshire, RG24 9NN
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Provision of a facility for conferencing and training in the field of medicine
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The financial results of the subsidiary for the year were:
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The Ark Conference Centre Limited
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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ARK MEDICAL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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ARK MEDICAL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Statement of funds - current year
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Balance at 1 April 2024
£
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Balance at 31 March 2025
£
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ARK MEDICAL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Statement of funds (continued)
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Statement of funds - prior year
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Balance at
1 April 2023
£
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Balance at
31 March 2024
£
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Summary of funds - current year
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Balance at 1 April 2024
£
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Balance at 31 March 2025
£
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ARK MEDICAL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Summary of funds (continued)
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Summary of funds - prior year
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Balance at
1 April 2023
£
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Balance at
31 March 2024
£
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Training fund - An anonymous donation was given to the Trust, from an ex-patient of one of the Trustees to be used for the advancement of education.
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ARK MEDICAL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Analysis of net assets between funds
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Analysis of net assets between funds - current year
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Creditors due within one year
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Analysis of net assets between funds - prior year
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Creditors due within one year
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ARK MEDICAL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Free reserves are the amount of funds that the Charity holds at the end of the reporting period after making allowance for any restricted funds, designated funds and the carrying amount of fixed assets held.
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Net book value of fixed assets
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Related party transactions
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During the year the Company incurred room hire charges on behalf of other organisations of £12,360 (2024: £8,400) from its subsidiary, The Ark Conference Centre Limited. At the year end the Company had prepaid for room hire totalling £16,879 (2024: £29,239).
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