The directors present their annual report and financial statements for the year ended 30 September 2025.
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
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.
In May 2025 a conference was held in Casablanca, bringing together researchers, care providers, health care workers, community members and policy makers from a diverse range of institutions to present studies, interventions and prevention schemes relating to AIDS and its effects.
The directors have paid due regard to guidance issued by the Charity Commission in deciding what activities the charitable company should undertake.
The overall net income for the year is £7,467 (2024: net expenditure of £34,116). Net assets of £219,866 (2024: £212,399) 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 £219,866 (2024: £212,399).
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 2027 conference will be held in London, with the planning of this now well underway. It has been decided by the board that this is to be the final conference, with the charitable company will cease activities after this. Any remaining funds will be transferred to a charitable organisation for AIDS research and education.
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 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.
I report on the financial statements of the charitable company for the year ended 30 September 2025, which are set out on the statement of financial activities, balance sheet and related notes.
Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the Companies Act 2006 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. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
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:
accounting records were not kept in respect of the charitable company as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
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 financial statements 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.
All income and expenditure derives from continuing activities.
The statement of financial activities includes all gains and losses recognised in the year.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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.
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: Statement 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.
The directors have confirmed that the charitable company will cease activities following the 2027 London conference. The remaining funds will be transferred to a charitable organisation with similar purposes for AIDS research and education. The directors therefore consider that it is not appropriate to prepare the financial statements on a going concern basis.
Unrestricted funds are available for use at the discretion of the directors in furtherance of their charitable objectives.
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.
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 charitable 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.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
At each reporting end date, the charitable company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
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.
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, 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.
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.
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.
Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled.
The charitable company is recognised by HMRC as a charity and accordingly there is no liability to taxation.
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.
Sponsorship
Investments
Directors' expenses: Travel and accommodation
Conference costs
Administration costs
Publications
No director received any remuneration during the year (2024: £nil). Four directors received reimbursement for expenses incurred on behalf of the charity totalling £922 (2024: £793). These were travel and similar expenses relating to the conference.
There were no employees in the current or prior year.
During the year, the charity paid the sum of £5,949 (2024: £nil) to Ari Sherr in respect of IT consultancy expenses incurred. Ari Sherr is the son of Prof Lorraine Sherr, a director of the charitable company.