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8/3/2019 511. RSA: Scientific and Medical Network Charitable Trust 2004 Financial Statement: PO Box 11 Moreton in Marsh
http://slidepdf.com/reader/full/511-rsa-scientific-and-medical-network-charitable-trust-2004-financial-statement 1/13
~ v ~ . 7 6 7
/
SCI ENT I F I C AND MEDI CAL NETWORKCHARI TABLE TRUST
F I NANCI AL STATEMENTS
FOR THE YEAR ENDED 3 1 DECEMBER 2 0 0 4
8/3/2019 511. RSA: Scientific and Medical Network Charitable Trust 2004 Financial Statement: PO Box 11 Moreton in Marsh
http://slidepdf.com/reader/full/511-rsa-scientific-and-medical-network-charitable-trust-2004-financial-statement 2/13
SCI ENT I F I C AND MEDI CAL NETWORK CHARI TABLE TRUST
CONTENTS
P a g e :
Tr u s t e e s ' A n n u a l Re p o r t
I n d e p e n d e n t Au d i t o r s ' Re p o r t
St a t e me n t o f F i n a n c i a l A c t i v i t i e s
Ba l a n c e S he e t
No t e s t o t h e F i n a n c i a l St a t e me n t s
: 3M
! 1 - 3
4
5
6
7 - 1 1
8/3/2019 511. RSA: Scientific and Medical Network Charitable Trust 2004 Financial Statement: PO Box 11 Moreton in Marsh
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SCI ENT I F I C AND MEDI CAL NETWORKCHARI TABLE TRUST , '
TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 3 1 DECEMBER 2 0 0 4
L e g a l a n d a d m i n i s t r a t i v e d e t a i l s
CHAI RMAN OF TRUSTEES Ma x P a y n e , M . A . , B . S c .
TRUSTEES ] a n i n e E d g e , M A . , M S c .
Dr P a u l F i l mo r e , B S c . , Ph . D . , M I n s t . P . , C P h y s . , M B . A . ,I L T M, FRSA
Oon a g h M H a r p u r , B A .
R u p e r t S t e w a r t - S m i t h M A .
AUDI TORS S p o f f o r t h s C h a r t e r e d A c c o u n t a n t s
C o u r t y a r d Hou s e
3 0 Wo r t h i n g Road
Ho r s h a m
Wes t S u s s e x RH12 i SL
BANKERS L l o y d s TS B PL C
Sh r e ws b u r y
S h r o p s h i r e
C HA RI T Y R EGI S T RA T I ON NUMBER 2 9 5 2 6 7
8/3/2019 511. RSA: Scientific and Medical Network Charitable Trust 2004 Financial Statement: PO Box 11 Moreton in Marsh
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SCI ENT I F I C AND MEDI CAL NETWORK CHARI TABLE . TRUST
TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 3 1 DECEMBER 2 0 0 4
Th e T r u s t e e s s u b mi t t h e i r a n n u a l r e p o r t a n d t h e a u d i t e d f i n a n c i a l s t a t e m e n t s f o r t h e y ea r e n d e d 3 1 December 2 0 0 4 . Th e T r u s t e e s h a v e
a d o p t e d t h e p r o v i s i o n s o f t h e S t a t e me n t o f R e c o m m e n d e d P r a c t i c e ( S O RP ) " A c c o u n t i n g a n d R e p o r t i n g b y C h a r i t i e s " i s s u e d i n Oc t o b e r
2 0 0 0 i n p r e p a r i n g t h e a n n u a l r e p o r t a n d f i n a n c i a l s t a t e m e n t s o f t h e c h a r i t y .
L e g a l St a t u s
Th e S c i e n t i f i c a n d M e d i c a l Ne t wo r k C h a r i t a b l e T r u s t wa s e s t a b l i s h e d b y a T r u s t Deed d a t e d 1 J u l y 1 9 8 6 a n d r e g i s t e r e d b y t h e C h a r i t y
c o mmi s s i o n o n 1 7 Oc t o b e r 1 9 8 6 . '
O b j e c t s
Th e C h a r i t y ' s o b j e c t s a r e t h e a d v a n c e m e n t o f l e a r n i n g a n d r e l i g i o n i n a n y p a r t o f t h e w o r l d b y t h e s t u d y o f t h e v a r i o u s a s p e c t s o f T r u t h
r e p r e s e n t e d t h r o u g h a r t s , t h e s c i e n c e s a n d a l l r e l i g i o n s i n wh i c h ma y b e f o u nd s p i r i t u a l t r u t h s n e c e s s a r y f o r ma n ' s f u l l e s t d e v e l o p me n t
t h r o u g h h i s u n d e r s t a n d i n g t h e l a w s o f l i f e a n d i v i n g . ~ -
Tr u s t e es
Ch a i r ma n o f Tr u s t e es
Max P a y n e , M A . , B . S c .
Tr u s t e es
. ~ c r i i r
5 9 ; C ~
- - v ' t r o . . .
J a n i n e E d g e , M A . , M S c . Dr P a u l F i l mo r e , B . S c . , P h . D . , M I n s t . , P C . P h y s . , M B . A . r t
Oo n a g h M H a r p u r , B. A . R u p e r t S t e w a r t - S m i t h M A .
P r i n c i p a l A d d r e s s
PO Bo x 1 1
M o r e t o n - I n - M a r s h
G l o u c e s t e r s h i r e
GL56 OZF
Re v i e w o f t h e Y e a r
On 1 J a n u a r y t h e S c i e n t i f i c a n d Me d i c a l N e t w o r k d i v i d e d i t s e l f b e t we e n t h e S c i e n t i f i c a n d Me d i c a l N e t w o r k C h a r i t a b l e T r u s t w h i c h
w i l l a d mi n i s t e r t h e T r u s t F u n d , a n d a c o m p a n y l i m i t e d b y g u a r a n t e e , t h e S c i e n t i f i c a n d Me d i c a l N e t w o r k w h i c h w i l l c a r r y o u t a l l t h e
e x e c u t i v e f u n c t i o n s o f t h e N e t w o r k a n d w i l l b e r e s p o n s i b l e f o r c o n f e r e n c e s , p u b l i c a t i o n s a n d a l l o t h e r p u b l i c a c t i v i t i e s . T h i s s p l i t wa s
u n d e r t a k e n f o r t e c h n i c a l a n d m a n a g e m e n t r e a s o n s a n d w a s a p p r o v e d b y t h e C h a r i t i e s C o mm i s s i o n .
Th e T r u s t r e m a i n c o n f i d e n t t h a t t h e S c i e n t i f i c a n d Me d i c a l N e t w o r k w i l l p r o v e a n e x c e l l e n t v e h i c l e w h e r e b y Th e T r u s t ' s C h a r i t a b l e
a i ms w i l l b e r e a l i s e d .
8/3/2019 511. RSA: Scientific and Medical Network Charitable Trust 2004 Financial Statement: PO Box 11 Moreton in Marsh
http://slidepdf.com/reader/full/511-rsa-scientific-and-medical-network-charitable-trust-2004-financial-statement 5/13
SCI ENT I F I C ANDMEDI CAL NETWORK C HA RI T A B L E TRUST
TR U STEES' ANNUAL REPORT
FORT HE YEAR ENDED 3 1 DECEMBER 2 0 0 4
Re s e r v e s
No s p e c i f i c r e s e r v e s a r e k e p t b y t h e T r u s t a s mo n i e s w i l l n o t b e d o n a t e d u n l e s s s u f f i c i e n t f u n d s a r e a v a i l a b l e .
Ri s k A s s e s s me n t
Th e T r u s t e e s r e v i e w f i n a n c i a l a n d o t h e r r i s k s w h e n a p p r o p r i a t e a n d h a v e e s t a b l i s h e d p r o c e d u r e s t o e n s u r e t h a t a l l t r a n s a c t i o n s
a n d p r o j e c t s a r e p r o p e r l y a u t h o r i s e d .
S t a t e me n t o f T r u s t e e s R e s p o n s i b i l i t i e s
U n d e r t h e C h a r i t i e s A c t 1 9 9 3 t h e T r u s t e e s a r e r e q u i r e d t o p r e p a r e a s t a t e me n t o f a c c o u n t s f o r e a c h f i n a n c i a l y e a r wh i c h g i v e s a t r u e a n d
i f a i r v i e w o f t h e s t a t e o f a f f a i r s o f t h e c h a r i t y a t t h e e n d o f t h e y e a r a n d o f i t s i n c o mi n g r e s o u r c e s a n d a p p l i c a t i o n o f r e s o u r c e s i n t h e
y e a r . I n p r e p a r i n g t h e s t a t e m e n t , t h e T r u s t e e s a r e r e q u i r e d t o :
s e l e c t s u i t a b l e a c c o u n t i n g p o l i c i e s a n d t h e n a p p l y t h e m c o n s i s t e n t l y ;
ma k e j u d g e me n t s a n d e s t i m a t e s t h a t a r e r e a s o n a b l e a n d p r u d e n t ;
s t a t e wh e t h e r a p p l i c a b l e a c c o u n t i n g s t a n d a r d s a n d s t a t e m e n t s o f r e c o mme n d e d p r a c t i c e h a v e b e e n f o l l o w e d , s u b j e c t
t o a n y ma t e r i a l d e p a r t u r e s d i s c l o s e d a n d e x p l a i n e d I n t h e s t a t e me n t o f a c c o u n t s ;
p r e p a r e t h e a c c o u n t s o n t h e g o i n g c o n c e r n b a s i s u n l e s s i t i s i n a p p r o p r i a t e t o p r e s u me t h a t t h e c h a r i t y w i l l
c o n t i n u e i t s o p e r a t i o n s .
T h e T r u s t e e s a r e r e s p o n s i b l e f o r k e e p i n g p r o p e r a c c o u n t i n g r e c o r d s wh i c h d i s c l o s e w i t h , r e a s o n a b l e a c c u r a c y a t a n y t i me t h e i n a n c i a l
p o s i t i o n o f t h e c h a r i t y a t t h a t t i me a n d t o e n a b l e t h e - T r u s t e e s t o e n s u r e t h a t a n y s t a t e me n t o f a c c o u n t p r e p a r e d b y t h e m c o mp l i e s w i t h
t h e r e g u l a t i o n s u n d e r S e c t i o n 4 2 ( 1 ) o f t h e C h a r i t i e s A c t 1 9 9 3 . T h e y a r e a l s o r e s p o n s i b l e f o r s a f e g u a r d i n g t h e a s s e t s o f t h e c h a r i t y a n d
h e n c e o r t a k i n g r e a s o n a b l e s t e p s f o r t h e p r e v e n t i o n a n d d e t e c t i o n o f f r a u d a n d o t h e r i r r e g d l a r i t i e s .
T h i s r e p o r t wa s a p p r o v e d b y t h e T r u s t e e s o n ~ ) ®CP01ae _Lo0r
8/3/2019 511. RSA: Scientific and Medical Network Charitable Trust 2004 Financial Statement: PO Box 11 Moreton in Marsh
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SCI ENT I F I C AND MEDI CAL NETWORKCHARI TABLE TRUST
I NDEPENDENTAUDI TORS' REPORT TOTHE TRUSTEES
. . , ~ . ,
We h a v e a u d i t e d t h e F i n a n c i a l S t a t e m e n t s o n p a g e s 5 t o 1 1 .
T h i s r e p o r t I s made s o l e l y t o t h e c h a r i t y ' s t r u s t e e s , a s a b o d y , i n a c c o r d a n c e w i t h S e c t i o n 4 3 o f t h e C h a r i t i e s Ac t 1 9 9 3 . Our a u d i t wo r k
h a s b e e n u n d e r t a k e n s o t h a t we mi g h t s t a t e t o t h e c h a r i t y ' s t r u s t e e s t h o s e m a t t e r s we a r e r e q u i r e d t o s t a t e t o t h e m i n a n a u d i t o r ' s
r e p o r t a n d f o r n o o t h e r p u r p o s e . T o h e f u l l e s t e x t e n t p e r m i t t e d b y l a w , w e d o n o t a c c e p t o r a s s u m e r e s p o n s i b i l i t y t o a n y o n e o t h e r t h a n
t h e c h a r i t y a n d t h e c h a r i t y ' s t r u s t e e s a s a b o d y , f o r o u r a u d i t w o r k , f o r t h i s r e p o r t , o r f o r h e o p i n i o n s w e h a v e f o r me d .
R e s p e c t i v e R e s p o n s i b i l i t i e s o f T r u s t e e s a n d A u d i t o r
As d e s c r i b e d o n p a g e 3 , t h e T r u s t e e s a r e r e s p o n s i b l e f o r t h e p r e p a r a t i o n o f f i n a n c i a l s t a t e m e n t s i n a c c o r d a n c e w i t h U n i t e d Ki n g d om l a w
a n d a c c o u n t i n g s t a n d a r d s .
Ou r r e s p o n s i b i l i t y I s t o a u d i t t h e a c c o u n t s i n a c c o r d a n c e w i t h r e l e v a n t l e g a l a n d r e g u l a t o r y r e q u i r e m e n t s a n d U n i t e d Ki n g do m A u d i t i n g
S t a n d a r d s .
We r e p o r t t o y o u o u r o p i n i o n a s t o wh e t h e r t h e a c c o u n t s g i v e a t r u e a n d f a i r v i e w a n d a r e p r o p e r l y i n a c c o r d a n c e w i t h t h e p r o v i s i o n s o f
t h e St a t e me n t o f R e c o m m e nd e d P r a c t i c e ( SORP) " A c c o u n t i n g a n d R e p o r t i n g b y C h a r i t i e s " i s s u e d i n O c t o b e r 2 0 0 0. We
a l s o r e p o r t t o y o uI f , I n o u r o p i n i o n , t h e T r u s t e e s ' R e p o r t i s n o t c o n s i s t e n t w i t h t h e a c c o u n t s , i f t h e T r u s t e e s h a v e n o t k e p t p r o p e r a c c o u n t i n g r e c o r d s , i f w e
h a v e n o t r e c e i v e d a l l t h e i n f o r m a t i o n a n d e x p l a n a t i o n s w e r e q u i r e f o r o u r a u d i t , o r I f i n f o r m a t i o n s p e c i f i e d b y l a w r e g a r d i n g r e m u n e r a t i o n
a n d t r a n s a c t i o n s w i t h T r u s t e e s i s n o t d i s c l o s e d .
We r e a d t h e T r u s t e e s ' Re p o r t a n d c o n s i d e r t h e i m p l i c a t i o n s f o r o u r r e p o r t i f w e b e c o m e a wa r e o f a n y a p p a r e n t m i s s t a t e m e n t s w i t h i n i t . "
Ba s i s o f Op i n i o n
We c o n d uc t e d o u r a u d i t i n a c c o r d a n c e w i t h A u d i t i n g S t a n d a r d s i s s u e d b y t h e A u d i t P r a c t i c e s B o a r d . An a u d i t i 6 d ud e s e x a mi n a t i o n , o n a
t e s t b a s i s , o f e v i d e n c e r e l e v a n t t o t h e a mo u n t s a n d d i s c l o s u r e s I n t h e F i n a n c i a l S t a t e me n t s . I t a l s o i n c l u d e s a n a s s e s s me n t o f t h e
s i g n i f i c a n t e s t i m a t e s a n d j u d ge me n t s made b y t h e T r u s t e e s I n t h e p r e p a r a t i o r S o f t h e F i n a n c i a l S t a t e m e n t s a n d o f w he t h e r t h e a c c o u n t i n g
p o l i c i e s a r e a p p r o p r i a t e t o t h e C h a r i t y ' s c i r c u m s t a n c e s , c o n s i s t e n t l y a p p l i e d a n d a d e q u a t e l y d i s c l o s e d .
. , i.
Wep l a n n ed a n d p e r f o r me d o u r a u d i t s o a s t o o b t a i n a l l t h e I n f o r m a t i o n a n d e x p l a n a t i o n s wh i c h w e c o n s i d e r e d n e c e s s a r y i n o r d e r o
p r o v i d e u s w i t h s u f f i c i e n t e v i d e n c e t o g i v e r e a s o n a b l e a s s u r a n c e t h a t t h e F i n a n c i a l S t a t e m e n t s a r e f r e e f r o m m a t e r i a l m l s - s t a t e m e q t L -
w he t h e r c a u s e d b y f r a u d o r o t h e r i r r e g u l a r i t y o r e r r o r . I n f o r mi n g o u r o p i n i o n w e a l s o e v a l u a t e d t h e o v e r a l l a d e qu a c y , o f t h e ~ p r e s e n t a t i o n
o f I n f o r m a t i o n i n t h e F i n a n c i a l S t a t e m e n t s . t
Op i n i o n
I n o u r o p i n i o n t h e
d e f i c i t f o r t h e y ea r
S p o f f o r t h s C h a r t e r
C o u r t y a r d H o u s e
3 0 Wo r t h i n g Road
Ho r s h a m
W e s t S u s s e x
R H 1 2 1 S L
a l S t a t e m e n t s g i v e a t r u e a n d f a i r v i e w o f t h e s t a t e o f t h e C h a r i t y ' s a f f a i r s a s a t 3 1 De c e m b e r 2 0 0 4 a n d o f i t s
d e d a n d h a v e b e e n p r o p e r l y p r e p a r e d i n a c c o r d a n c e w i t h t h e C h a r i t i e s A c t 1 9 9 3 a n d Th e T r u s t Deed .
D a t e : ( ~ OL I O6 a J A-OVr
P a g e : 4
8/3/2019 511. RSA: Scientific and Medical Network Charitable Trust 2004 Financial Statement: PO Box 11 Moreton in Marsh
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SCI ENT I F I C AND MEDI CAL NETWORKCHARI TABLE TRUST
ST ATE MENT OF F I NANCI AL ACT I V I T I ES
FOR THE YEAR ENDED 3 1 DECEMBER 2 0 0 4 .
s ` - I , 1 " :
U n r e s t r i c t e d R e s t r i c t e d P e r m a n e n t
No t e s f u n d s f u n d s e n d o wme n t 2 0 0 4 2 0 0 3
f u n d
£ £ E £ EI n c o mi n g r e s o u r c e s
S u b s c r i p t i o n s - - - - 5 3 , 1 7 9
Do n a t i o n s 1 8 , 4 4 9 3 , 6 3 4 - 2 2 , 0 8 3 4 0 , 6 5 5
I n c o me t a x r e c o v e r a b l e - - - - 5 , 4 8 0
A c t i v i t i e s i n t h e f u r t h e r a n c e o f t h e c h a r i t y s '
o b j e c t s :L e c t u r e s , me e t i n g s d c . - - - - 1 3 , 2 7 7
A c t i v i t i e s f o r g e n e r a t i n g f u n ds :I n v e s t m e n t I n c o me 2 0 , 9 8 4 - - 2 0 , 9 8 4 3 0 , 8 0 1
T o t a l i n c o mi n g r e s ou r c e s 3 9 , 4 3 3 3 , 6 3 4 - 4 3 , 0 6 7 1 4 3, 3 9 2
Re s o u r c e s e x p e n d e d
Ch ar i t a b l e e x pe n di t u r e : V i ` ` '
C o s t s I n f u r t h e r e n c e o f t h e C h a r i t y ' s o b j e c t s - 1 0 , 3 6 3 - 1 0 , 3 6 3 1 5 0 , 8 0 1
D o n a t i o n 4 9 , 9 7 6 4 0 , 3 3 3 - 9 0 , 3 0 9
Ma n a g e me n t a n d a d mi n i s t r a t i o r i 5 7 1 - - 5 7 1 1 0 , 6 1 1
To t a l r e s ou r c e s e x p e n d e d 2 5 0 , 5 4 7 5 0 , 6 9 6 - 3 0 1 , 2 4 3 1 6 1 , 4 1 2I
Ne t r e s o u r c e s e x p e n d e d b e f o r e t r a ns f e r s ( 1 1 , 1 1 4 ) ( 4 7 , 0 6 2 ) - ( 5 8 , 1 76 ) ( 1 8 , 0 2 0 )
T r a n s f e r b e t we e n f u n d s ( 4 1 5 3 9 ) 4 , 5 3 9 - - -
Ne t r e s o u r c e s e x p e n d e d f o r t h e y e a r ( 1 5 , 6 5 3 ) ( 4 2 , 5 2 3 ) - ( 5 8 , 1 76 ) ( 1 8 , 0 2 0 )
Ot h e r r e o b gn i s e d ° g a f n s a n d ~l o s s e s :
L o s s o n d i s p o s a l o f i n v e s t m e n t s - - - - ( 9 , 3 3 0 )
U n r e a l i s e d g a i n / ( l o s s ) o n i n v e s t m e n t a s s e t s 2 , 7 1 0 - 4 , 6 1 3 7 , 3 2 3 ( 8 5 3 )
Ne t mov emen t o n f u n ds ( 1 2 , 9 4 3 ) ( 4 2 , 5 2 3 ) 4 , 6 1 3 ( 5 0 , 8 5 3) ( 2 8 , 2 0 3 )
F u n d b a l a n ce s b r o u gh t f o r wa r d 1 9 2 , 2 3 4 4 3 , 7 4 1 1 2 7 , 2 5 7 3 6 3 , 2 3 2 3 9 1 , 4 3 5
F u n d s a t 3 1 De c e mb e r 2 0 0 4 9 1 7 9 , 2 9 1 1 , 2 1 8 1 3 1 , 8 7 0 3 1 2 , 3 7 9 ~ 3 6 3 , 2 3 2
T h e n o t e s o n p a g e s 7 o 1 1 f o r m p a r t o f t h e s e a c c o u n t s . P a g e : 5
8/3/2019 511. RSA: Scientific and Medical Network Charitable Trust 2004 Financial Statement: PO Box 11 Moreton in Marsh
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SCI ENT I F I C AND MEDI CAL NETWORKCHARI TABLE TRUST
BALANCE SHEET .
AS AT 3 1 DECEMBER 2 0 0 4 . ,
No t e s 2 0 0 4 2 0 0 3
£ f E £
F i x e d a s s et s
T a n g i b l e f i x e d a s s e t s 3 - . 1 , 0 5 0
I n v e s t me n t s 4 3 5 1 , 0 7 2 3 7 6 , 1 2 7
I n v e s t me n t i n s u b s i d i a r y 5 1 1
3 5 1 , 0 7 3 . 3 7 7 , 1 7 8
Cu r r e n t a s s et s
D e b t o r s 6 2 , 9 6 0 3 , 0 4 6
C a s h a t b a n k a n d i n h a n d 7 3 2 , 8 9 0 1 1 4 , 9 2 8
3 5 , 8 5 0 1 1 7, 9 7 4
Cr e d i t o r s : a mo u n t s f a l l i n g due
wi t h i n one y e a r 8 ( 3 8 , 5 4 4 ) ( 5 8 , 5 8 7 )
( 2 , 6 94 )
3 4 8 , 3 7 9a ~
5 9 , 3 8 7
4 3 6 , 5 6 5
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L o a n s ( 3 6 , 0 0 0 ) ( 7 3 , 3 3 3 )
3 1 2 , 3 7 9 ' 3 6 3 , 2 3 2
F u n d s
P e r ma n e n t e n d o w me n t 9 1 3 1 , 8 7 0
U n r e s t r i c t e d f u n ds : G e n e r a l f u n d s 9 1 7 9, 2 9 1
R e s t r i c t e d f u n ds 9 1 , 2 1 8
! 1 2 7, 2 5 7
1 9 2, 2 3 4
4 3 , 7 4 1
3 1 2 , 3 7 9 , , ' 3 6 3 , 2 3 2
a p p r o v e d b y t h e t r u s t e e s o n i ( x Wh z S ' : x o sa nd s i g n e d o n t h e i r b e h a l f .
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Dr P a u l F i l mo r e , B S c . , Ph . D . , M I n s t . P , C P h y s . , M B . A . , I L T M, FRSA
Th e n o t e s o n p a g e s 7 t o 1 1 f o r m p a r t o f t h e s e a c c o u n t s P a g e : 6
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SCI ENT I F I C ANDMEDI CAL NETWORK CHARI TABLE TRUST
NOTESTOTHE F I NANCI AL STATEMENTS
FORTHE , Y EARENDED 3 1 DECEMBER 2 0 0 4
ACCOUNTI NG P OL I CI E S
B a s i s o f a c c o u n t i n g
T h e F i n a n c i a l S t a t e me n t s h a v e b e e n p r e p a r e d u n d e r t h e h i s t o r i c a l c o s t c o n v e n t i o n , w i t h t h e e x c e p t i o n o f i n v e s t m e n t s wh i c h a r e
i n c l u d e d a t ma r k e t v a l u e . Th e f i n a n c i a l s t a t e m e n t s h a v e b e e n p r e p a r e d i n a c c o r d a n c e w i t h t h e St a t e me n t o f R e c o m m e n d e d
P r a c t i c e " A c c o u n t i n g a n d R e p o r t i n g b y C h a r i t i e s " p u b l i s h e d i n Oc t o b e r 2 0 0 0 a n d t h e C h a r i t i e s Ac t 1 9 9 3 .
F u n d a c c ou n t i n g
T h e u n r e s t r i c t e d f u n ds a r e a v a i l a b l e f o r u s e a t t h e d i s c r e t i o n o f t h e t r u s t e e s i n f u r t h e r a n c e o f t h e g e n e r a l o b j e c t i v e s o f
t h e c h a r i t y a n d w hi c h ha v e n o t b e e n d e s i g n a t e d f o r o t h e r p u r p o s e s
R e s t r i c t e d f u n d s a r e f u n ds wh i c h a r e t o b e u s e d i n a c c o r d a n c e w i t h s p e c i f i c r e s t r i c t i o n s i mp o s e d b y d o n or s o r wh i c h h a v e b e e n
r a i s e d b y t h e c h a r i t y f o r p a r t i c u l a r p u r p o s e s Th e c o s t o f r a i s i n g a n d a d mi n i s t e r i n g s u c h f u n ds a r e c h a r g e d a g a i n s t t h e s p e c i f i c
f u n d .
I n v e s t me n t i n c o me a n d g a i n s a r e a l l o c a t e d t o t h e a p p r o p r i a t e f u n d .
i n c omi n g r e s o u r c e s
Al l v o l u n t a r y i n c o me i s i n c l u d e d i n i n c o me o n r e c e i p t e x c e p t w he r e t h e d o n o r r e q u i r e s t h e s u m t o b e i n v e s t e d t o p r o v i d e i n c o me
f o r t h e C h a r i t y ' s p u r p o s e s , i n wh i c h c a s e i t i s t r e a t e d a s a p e r ma n e n t e n d o w m e n t .
Do n a t i o n s a n d s u b s c r i p t i o n s a r e r e c o g n i s e d a s i n c o me w h e n r e c e i v e d .
. . I n v e s t me n t i n c o me ) s i n c l u d e d i n t h e a c c o u n t s o n a r e c e i v a b l e b a s i s a n d i n c l u d e s a mo u n t s a c c r u e d f o r o u t s t a n d i n g r e f u n d s o f
t a x d e d uc t e d a t s o u r c e .
Re s o u r c e s e x p e n d e d
A l l e x p e n d i t u r e i s a c c o un t e d f o r o n a n a c c r u a l s b a s i s a n d h a s b e e n c l a s s i f i e d u n d e r h e a d i n g s t h a t a g g r e g a t e a l l c o s t s r e l a t e d t o
t h e c a t e g o r y .
De pr e c i a t i o n
De p r e d a t i o n i s p r o v i d e d o n a b a s i s wh i c h w i l l w r i t e o f f t h e c o s t o f f i x e d a s s e t s o v e r t h e i r e s t i ma t e d u s e f u l l i v e s b y t h e f o l l o w i n g
me t h o d s .
Co mp u t e r e q u i p me n t : 2 5 ° l o p e r a n n u m o n c o s t
O f f i c e e q u i p me n t : 25%p e r a n n u m o n r e d u c i n g b a l a n c e
I n v es t me nt s
I n v es t me n t s a r e s t a t e d a t ma r k e t v a l u e a t t h e b a l a n c e s h e e t d a t e . T h e SOFA i n c l u d e s t h e ne t g a i n s a n d l o s s e s a r i s i n g o n
r e v a l u a t i o n s a n d d i s p o s a l s t h r o u g h o u t t h e y e ar .
St o c k
No v a l u e h a s b e e n a s c r i b e d t o t h e s t o c k o f p u b l i c a t i o n s o n t h e b a s i s t h a t t h e ma j o r i t y o f t h e s e a r e n o r m a l l y g i v e n a w a y a n d
t h e r e f o r e i t i s p r u d e n t t o a c c o u n t f o r a l l p u b l i c a t i o n c o s t s i n t h e p e r i o d t h e y a r e i n c u r r e d .
8/3/2019 511. RSA: Scientific and Medical Network Charitable Trust 2004 Financial Statement: PO Box 11 Moreton in Marsh
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SCI ENT I F I C ANDMEDI CAL NETWORK CHARI TABLE TRUST
NOTES TO THE F I NANCI AL STATEMENTS
FOR THE YEAR ENDED 3 1 DECEMBER 2 0 0 4
2 To t a l r e s o u r c e s e x p e n d e d
C o n s u l t a n c y f e e s
L e g a l a n d p r o f e s s i o n a l f e e s
S t a f f s a l a r i e s
A d v e r t i s i n g a n d p o s t a g e s
S t a t i o n e r y
Ot h e r p r i n t i n g c o s t s
P r i n t i n g r e v i e w s
A u d i t f e e s
D e p r e c i a t i o n - o f f i c e e q u i p me n t
T e l e p h o n e
R e n t - o f f i c e a n d a s s o c i a t e d c o s t s
T r a v e l l i n gG e n e r a l e x p e n s e s
Co mp u t e r a c c e s s o r i e s a n d C o mp u s e r v e
Bank n d c r e d i t c a r d c h a r g e s .R e p a i r s a n d r e n e w a l s
E q u i p m e n t r e n t a l s
BA F e s t i v a l o f S c i e n c e
T h e o r l a t o t h e o r y f u n d
I n wa r d b o u n d ,
GP l i b r a r y p r o j e c t
P r i n c e o f Wa l e s c o n f e r e n c e s
POWB o o k Gr a n t
B e y o n d t h e B r a i n c o n f e r e n c e s
L e o n a r d o p r o j e c t ` ° "
Te mp l e t o n p r o j e c t s
D o n a t i o n t o t h e S c i e n t i f i c a n d Me d i c a l Ne t wo r k
D o n a t i o n t o C h a r i t a b l e M a n a g e m e n t
S c i e n t i f i c a n d p r o j e c t s a n d 2 0 0 4 2003
Me d i c a l Ne t w or k a d m i n i s t r a t i o n
£ £ £ £ £
9 0 , 3 0 9
- - - 1 7 , 1 2 0
- ( 1 , 4 8 6 ) ( 1 , 4 86 ) 4 , 6 1 4
- - - 4 2 , 3 4 1
- - - 8 , 5 15
- - - 9 8 4
- - - 3 , 0 9 9
- - - 1 1 , 1 2 6
- 1 , 9 2 8 1 , 9 2 8 4 , 1 7 9
- - - 4 4 4
- - - 1 , 0 4 7
- - C , t s + - 5 , 3 1 2
- - - 2 , 9 1 8- 1 2 9 1 2 9 s 5 0 3
- - i ' 0 0 - ~ 1 , 1 7 5
- - - 1 , 1 2 0
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- - - 7 0 5
- - - 1 , 0 6 5
- " - - 1 5 , 3 7 5
2 , 0 6 9 - 2 , 0 6 9 - : 2 0 , 4 4 1
6 8 5 - 685 . 2 5 0
- _ - 2 , 5 0 0
- - - 1 , 0 0 0
- - - 5 0 0
5 9 3 - 593 4 , 0 9 1
7 , 0 1 6 - 7 , 0 16 1 0 , 8 2 8
- - 9 0 , 3 09 -
9 0 , 3 0 9 1 0 , 3 6 3 5 7 1 1 0 1, 2 4 3 1 6 1 , 4 1 2
2 0 0 4 " ~ 2 0 0 3
£ £
I s s t a t e d a f t e r c h a r g i n g :
A u d i t o r s r e m u n e r a t i o n
D e p r e c i a t i o n
Th e a v e r a g e n u m b e r o f e mp l o y e e s wa s :F u l l t i m e . .P a r t t i me
No e mp l o y e e s r e c e i v e d e mo l u me n t s g r e a t e r t h a n £ 5 0 , 0 0 0 . "
No t r u s t e e r e c e i v e d a n y r e m u n e r a t i o n I n r e s p e c t o f t h e i r s e r v i c e s a s a t r u s t e e d u r i n g t h e y e a r ( 2 00 3 - £ n i l ) .
E x p e n s e s I n c u r r e d t o t a l l i n g £ 1 2 7 wa s r e i m b u r s e d t o 1 t r u s t e e d u r i n g t h e y e a r ( 2 00 3 - £ 2 1 0 ) .
1 , 9 2 8 4 , 1 7 9
- 4 4 4
2
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SCI ENT I F I C AND MEDI CAL NETWORKCHARI TABLE TRUST ; . ;
° NOTES TO THE F I NANCI AL STATEMENTS
FORTHE YEAR ENDED 3 1 DECEMBER 2 0 0 4
3 Ta n g i b l e f i x e d a s s e t s
Of f i c e a n d c o mp u t e r e q u i p me n t
2 0 0 4 2003
£ E
C o s t
A t 1 J a n u a r y 2 00 4 2 3 , 8 0 4 2 3 , 8 0 4
D i s p o s a l s ( 2 3 , 8 0 4 ) -
At 3 1 De c e mb e r 2 0 0 4 - 2 3, 8 0 4
De pr e c i a t i o n
At 1 J a n u a r y 2004 2 2 , 7 5 4 2 2 , 3 1 0
Ch a r g e d f o r t h e y e a r 4 4 4
D i s p o s a l s ( 2 2 , 7 5 4 )
At 3 1 De c e mb e r 2 0 0 4 - 2 2 , 7 5 4
Ne t Bo o k Va l u e .
At 3 1 De c e mb e r 2 0 0 4 1 , 0 5 0
4 F i x e d a s s e t i n v e s t m e n t s
2 0 0 4 2 0 0 3
£ £
. , Ma r k e t v a l u e a t 1 J a n u a r y 2004 3 7 6 , 1 2 7 3 8 6, 8 7 3
D i s p o s a l s - ~ , - ( 1 1 0 , 5 8 6 )
Mov emen t I n c a s h ( 3 2, 3 78 ) i 1 0, 0 23
Ne t r e a l i s e d a n d u n r e a l i s e d i n v e s t me n t g a i n s / ( l o s s e s ) 7 , 3 23 ( 1 0 , 1 8 3 )
3 5 1, 0 7 2 3 7 6, 1 27
2 0 0 4 2 0 0 4 2 0 0 3 ! 2003
C os t Ma r k e t v a l u e C o s t Ma r k e t v a l u e
£ £ £ £
' 1 7 , 0 0 0 H a l i f a x 6 . 3 75 % N ot e s 1 7 , 1 08 1 8 , S3 8 1 7 , 1 0 8 1 8 , 6 7 1
4 , 0 0 0 M & G~ S e c u r i t i e s L i mi t e d 2 9, 0 68 4 8 , 9 7 6 2 9, 0 68 4 2 , 9 0 0
8 2 1 0 0 0 C h a r i t i e s Ai d I n c o me F u n d 4 9 , 8 2 5 5 2 , 1 40 4 9 , 8 2 5 5 2 , 0 5 8
7 9 , 5 0 0 9 1 / 2 %o n v e r s i o n S t o c k 2005 9 6 , 8 6 8 8 2 , 1 96 9 6 , 8 6 8 8 6 , 3 2 2
2 , 7 6 0 A s s o c i a t e d B r i t i s h F o o d s Or d Sp . ( G i f t ) 1 8 , 0 18 2 1 , 5 4 2 1 8 , 0 1 8 , i 6 , i 1 8
C a s h h e l d b y s t o c k b r o k e r s 1 27 , 6 8 1 12 7 , 6 8 0 1 6 0 , 0 5 8 1 6 0 , 0 5 8
5
I n v e s t me n t i n s ub s i d i a r y
3 38 , 5 6 8 3 5 1, 0 72 3 7 0, 9 45 3 7 6, 1 27
T h e t r u s t e e s h e l d 1 0 0 % o f t h e s h a r e s o f SMN P r o j e c t s L i m i t e d ( C o mp a n y nu mbe r : 3 0 1 1 94 4 ) o n b e h a l f o f t h e S c i e n t i f i c
a n d M e d i c a l Ne t wo r k C h a r i t a b l e T r u s t .
P a g e : 9
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SCI ENT I F I C AND MEDI CAL NETWORKCHARI TABLE TRUST s
NOTES TOTHE F I NANCI AL STATEMENTS
FOR THE YEAR ENDED 3 1 DECEMBER 2 0 0 4
6 De b t o r s
T r a d e d e b t o r s
Amo u n t s o w e d b y a s s o c i a t e d u n d e r t a k i n g sOt h e r d e b t o r s
P r e p a y me n t s
2 , 9 6 0
2 0 0 4 2003
£ £
- 1 0 0
2 , 8 6 0
8 6
2 , 9 6 0
7 C a s h a t b a n k a n d i n h a n d
T r u s t e e s a c c o u n t s :
3 , 0 46
2 0 0 4 2003
£ £
Bank d e p o s i t a c c o u n t - 2 0 , 2 7 5
Bank c u r r e n t a c c o u n t 3 2, 7 7 1 , 3 1 , 9 0 8
3 2, 7 7 1 5 2 , 1 8 3
D i r e c t o r s a c c o u n t s :
B a n k c u r r e n t a c c o u n t
B a r c l a y s t r a c k e r a c c o u n t
B a r c l a y c a r d Me r c h a n t S e r v i c e s
C a s h i n h a n d
- 9 , 0 05
119 5 3 , 5 3 9
1 - 2 0 0
- 1
1 1 9 6 2 , 7 4 5
. 3 2, 8 9 0 - 1 1 4 , 9 2 8
8 Cr e di t o r s : a mo u n t s f a l l i n g due wi t h i n o n e y e a r ` < 2 0 0 4 2 0 0 3
T Y a d e c r e d i t o r s - 1 9
CAmo u n t s o w e d t o g r o u p u n d e r t a k i n g s 369 3 , 6 0 0
A c c r u a l s a n d d e f e r r e d i n c o me 1 , 1 7 5 1 7 , 1 9 6
Ot h e r c r e d i t o r s - 9 3
Ot h e r t a x e s a n d s o c i a l s e c u r i t y - ' 1 , 0 6 2
= L o a n 3 7 , 0 00 X 3 6 , 6 6 7
3 8 , 5 4 4 5 8 , 5 8 7
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SCI ENT I F I C AND MEDI CAL NETWORKCHARI TABLE TRUST
NOTES TO THE F I NANCI AL STATEMENTS
FOR THE YEAR ENDED 3 1 DECEMBER 2 0 0 4
9 F u n d s
At1
J a n ua r y I n c o mi n g Ou t g o i n g Tr a n s f e r s At 3 1 De c e m b e r2 0 0 4 2 0 0 4
E £ £ £ £
P e r ma n e n t en do wmen t f u nd 1 27 , 2 5 7 4 , 6 1 3 - - 1 3 1 , 8 7 0
Unr e s t r i c t e d f u nd s
G e n e r a l f u n d 19 2 , 2 3 4 4 2 , 1 4 3 ( 5 0 , 5 4 7 ) ( 4 , 5 3 9 ) 1 7 9 , 2 9 1
Re st r i c t e d f u nd s
Th e T h e o r i a t o T h eo r y F u nd 2 5 , 0 0 9 - ( 2 6 , 8 2 5 ) 1 , 8 1 6 -
Ne t wo r k S c h o o l s S p e a k e r s S e r v i c e 7 6 3 - - - 763
T e mp l e t o n F u nd 1 , 9 9 4 3 , 6 3 4 ( 7 , 0 1 7 ) 1 , 3 8 9 -
R u f f o r d Fund 2 , 0 6 9 - ( 2 , 0 6 9 ) - -
L e o na r d o P r o j e c t 4 , 1 5 6 - ( 5 , 4 9 0 ) 1 , 3 3 4 -
GP L i b r a r y p r o j e c t 9 , 7 5 0 - ( 9 , 2 9 5 ) - 455
4 3 , 7 4 1 3 , 6 3 4 ( 5 0 , 6 9 6 ) 4 , 5 3 9 1 , 2 18
3 0 ' , An al y s i s o f a s se t s b e t w e e n f u nd s
' Un r e st r i c t e d Re st r i c t e d P e r ma n e n t To t a l
F u n d b a l a n c e s a t 3 1 December 2 0 0 4 f u nd s f u nd s end owment f u nd s
a r e r e p r e s e n t e d b y : f u nd s
I n v e s t m e n t s
De b t o r sCash
, C u r r e n t l i a b i l i t i e s
" ° L o n g t e r m l i a b l i t i e s
1 4 6 , 2 0 3 - 2 0 4 , 8 7 0 3 5 1 , 0 7 3
2 , 9 6 0 - - 2 , 9 6 03 1 , 6 7 2 1 , 2 1 8 - . , 3 2 , 8 9 0
( 1 , 5 4 4 ) - ( 3 7 , 0 0 0 ) ( 3 8 , 5 4 4 )
- - ( 3 6 , 0 0 0 ) ( 3 6 , 0 0 0 )
1 7 9 , 2 9 1 1 , 2 1 8 1 3 1 , 8 7 0 3 1 2, 3 7 9
1 1 Re l a t e d p a r t i e s
Th e S c i e n t i f i c a n d M e d i c a l Ne t wo r k :
D u r i n g t h e y e a r , t h e T r u s t made a d o n a t i o n o f £ 9 0 , 3 0 9 ( 2 0 0 3 : f i n i l ) t o t h e t h e S c i e n t i f i c a n d M e d i c a l N e t w o r k , a c o m p a n y
l i mi t e d b y g u a r a n t e e ( c o mp a n y r e g i s t r a t i o n number 4 5 4 4 6 9 4 ; c h a r i t y r e g i s t r a t i o n number 1 1 0 1 1 7 1 ) . Th e T r u s t i s o w e d
£ 2 , 9 6 0 ( 2 0 03 : £ n i l ) b y t h e c o mp a n y a t t h e y e ar e nd .
SMNP r o j e c t s L i m i t e d :
SMNP r o j e c t s L i m i t e d ( c o mp a n y r e g i s t r a t i o n number 3 0 1 1 9 4 4 ) wa s a s u b s i d i a r y c o mp a n y o f t h e S c i e n t i f i c a n d M e d i c a l
Ne t wo r k C h a r i t a b l e T r u s t . D u r i n g t h e y e a r , t h e c o m p a n y i n v o i c e d £ 3 6 9 ( 2 0 0 3 : £ 1 6 , 6 5 2 ) t o t h e t r u s t . SMN P r o j e c t s L i m i t e d i s
o w e d £ 3 6 9 ( 2 0 0 3 : £ 3 , 6 0 0 ) b y t h e t r u s t a t t h e y e a r e n d . C o n t r o l o f SMN P r o j e c t s L i m i t e d wa s t r a n s f e r r e d t o t h e Th e
S c i e n t i f i c a n d M e d i c a l Ne t wo r k o n 2 3 J a n u a r y 2 0 0 5 .
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