Nicola Murray Foundation - Charities report - 19.3.2

REGISTERED COMPANY NUMBER: SC380868 (Scotland)

REGISTERED CHARITY NUMBER: SC041797

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 30 June 2019

for

Nicola Murray Foundation

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

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 2019. 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 2015).

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

Reserves policy

The reserves retained at year end are rolled over annually.

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.

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.

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.

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

SC380868 (Scotland)

Registered Charity number

SC041797

Registered office

26 George Square

Edinburgh

EH8 9LD

Trustees

S F Turnbull

Mrs C Turnbull

Independent Examiner

John W Kennedy CA

Cowan & Partners Limited

60 Constitution Street

Edinburgh

EH6 6RR

Approved by order of the board of trustees on 25 March 2020 and signed on its behalf by:

S F Turnbull - Trustee

I report on the accounts for the year ended 30 June 2019 set out on pages four to eleven.

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. 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.

John W Kennedy CA

Cowan & Partners Limited

60 Constitution Street

Edinburgh

EH6 6RR

25 March 2020

30.6.19

30.6.18

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

12,562

26,514

EXPENDITURE ON

Raising funds

2

983

1,657

Charitable activities

General

-

10,801

Total

983

12,458

NET INCOME

11,579

14,056

RECONCILIATION OF FUNDS

Total funds brought forward

102,303

88,247

TOTAL FUNDS CARRIED FORWARD

113,882

102,303

30.6.19

30.6.18

Unrestricted

Total

fund

funds

Notes

£

£

CURRENT ASSETS

Debtors

5

229

18,986

Cash at bank

114,383

92,067

114,612

111,053

CREDITORS

Amounts falling due within one year

6

(730

)

(8,750

)

NET CURRENT ASSETS

113,882

102,303

TOTAL ASSETS LESS CURRENT LIABILITIES

113,882

102,303

NET ASSETS

113,882

102,303

FUNDS

7

Unrestricted funds

113,882

102,303

TOTAL FUNDS

113,882

102,303

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 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.

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 on 25 March 2020 and were signed on its behalf by:

S F Turnbull - Trustee

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 2015)', 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.

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.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but

not accrued as expenditure.

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.

2.	RAISING FUNDS

Raising donations and legacies

30.6.19

30.6.18

£

£

Collection charges

411

1,048

Support costs

572

609

983

1,657

3.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 June 2019 nor for the year ended

30 June 2018.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 June 2019 nor for the year ended 30 June 2018.

4.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

fund

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

26,514

EXPENDITURE ON

Raising funds

1,657

Charitable activities

General

10,801

Total

12,458

NET INCOME

14,056

RECONCILIATION OF FUNDS

Total funds brought forward

88,247

TOTAL FUNDS CARRIED FORWARD

102,303

5.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Debtors

229

18,986

6.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Trade creditors

180

-

Accrued expenses

550

8,750

730

8,750

7.	MOVEMENT IN FUNDS

Net

movement

At

At 1.7.18

in funds

30.6.19

£

£

£

Unrestricted funds

General fund

102,303

11,579

113,882

TOTAL FUNDS

102,303

11,579

113,882

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

12,562

(983

)

11,579

TOTAL FUNDS

12,562

(983

)

11,579

Comparatives for movement in funds

Net

movement

At

At 1.7.17

in funds

30.6.18

£

£

£

Unrestricted funds

General fund

88,247

14,056

102,303

TOTAL FUNDS

88,247

14,056

102,303

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

26,514

(12,458

)

14,056

TOTAL FUNDS

26,514

(12,458

)

14,056

A current year 12 months and prior year 12 months combined position is as follows:

Net

movement

At

At 1.7.17

in funds

30.6.19

£

£

£

Unrestricted funds

General fund

88,247

25,635

113,882

TOTAL FUNDS

88,247

25,635

113,882

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as

follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

39,076

(13,441

)

25,635

TOTAL FUNDS

39,076

(13,441

)

25,635

8.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 June 2019.