REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 30 June 2023 |
for |
Mouse News Letter Limited |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 30 June 2023 |
for |
Mouse News Letter Limited |
Mouse News Letter Limited |
Contents of the Financial Statements |
for the Year Ended 30 June 2023 |
Page |
Reference and Administrative Details | 1 |
Report of the Trustees | 2 | to | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 |
Notes to the Financial Statements | 6 | to | 8 |
Mouse News Letter Limited |
Reference and Administrative Details |
for the Year Ended 30 June 2023 |
TRUSTEES |
Professor E M C Fisher |
COMPANY SECRETARY | Dr P L Oliver |
REGISTERED OFFICE |
REGISTERED COMPANY NUMBER |
REGISTERED CHARITY NUMBER |
Mouse News Letter Limited (Registered number: 02090091) |
Report of the Trustees |
for the Year Ended 30 June 2023 |
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 2023. 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 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives, aims and significant activities |
Mouse News Letter Limited aims to promote the advancement of knowledge in the science of genetics through supporting members of the biomedical research community in various ways, such as providing grants to attend conferences and transcribing editions of Mouse News Letter onto the web. |
Public benefit |
The trustees have complied with the duty in s 17(5) of the Charities Act 2011 to have due regard to the public benefit guidance required by the Charity Commission when reviewing the charity's aims and objectives and in setting the grant making policy for the year. The grant making activities provide public benefit by facilitating biomedical research. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
Mouse News Letter Limited receives an income from the journal Mammalian Genome. For the year ended 30th June 2023 a sum of £3,895 was received from Springer Verlag, the owners of Mammalian Genome. |
At 30 June 2023 the charity had £26,518 in the bank. During the year, the trustees awarded the Cattanach Prize for £500. Grants totalling £6,000 were made to help fund the making of a short film to raise awareness of ASL disease entitled "Bed to Benchside" and, to fund four travel bursaries and a short talk prize at the Genomic Imprinting Meeting. |
The trustees maintain flexibility as to the amounts of such grants because the amount of money it is appropriate to provide for travel costs largely depends where important relevant meetings are taking place. |
All past copies of the journal are available to view on: |
www.har.mrc.ac.uk/about/mouse-news-letter-archive |
FINANCIAL REVIEW |
Reserves policy and principal funding sources |
As explained above the the income of Mouse News Letter Limited is wholly derived from royalties receivable. |
It is the policy of the trustees to have relatively large reserves to maintain flexibility in the amounts of grants made from year to year, regardless of the income from Mammalian Genome which is variable. |
Reserves are kept on bank current and deposit account. |
FUTURE PLANS |
The trustees continue to promote awards for work in mammalian genetics and scientific meetings with relevance to mammalian genetics. They have approved an Annual Genetics Society prize and are considering funding another bursary for attendance at the Mammalian Genetics Course and contributions towards the cost making certain publications on genetics accessible to the public. |
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. |
Recruitment, appointment and training of new trustees |
The Articles of Association require the company to have at least two trustees. Trustees are chosen from members of the scientific community working in the field of mouse genetics, no formal training as a trustee is considered necessary. The trustees are elected at the Annual General Meeting to serve for a period of three years. |
Mouse News Letter Limited (Registered number: 02090091) |
Report of the Trustees |
for the Year Ended 30 June 2023 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Organisational structure |
The trustees meet annually to discuss policy and distribute income. Less formal contact is maintained by the trustees throughout the year, largely by e-mail. |
Wider network |
Mouse News Letter Limited has no formal connection with any other charity. |
Risk management |
The trustees have assessed the risks to which the charity is exposed and are of the opinion the the existing systems are sufficient to control such risks. |
STATEMENT OF TRUSTEES' RESPONSIBILITIES |
The trustees (who are also the directors of Mouse News Letter Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". |
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to |
- | select suitable accounting policies and then apply them consistently; |
- | observe the methods and principles in the Charity SORP; |
- | make judgements and estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. |
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
Approved by order of the board of trustees on |
Mouse News Letter Limited |
Statement of Financial Activities |
(Incorporating an Income and Expenditure Account) |
for the Year Ended 30 June 2023 |
30.6.23 | 30.6.22 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Other trading activities | 2 |
Investment income | 3 |
Total |
EXPENDITURE ON |
Charitable activities |
Grants | 6,500 | - |
Governance | 1,161 | 1,579 |
Total |
NET INCOME/(EXPENDITURE) | ( | ) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 29,393 |
Mouse News Letter Limited (Registered number: 02090091) |
Balance Sheet |
30 June 2023 |
30.6.23 | 30.6.22 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( | ) | ( | ) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS |
Unrestricted funds | 29,393 |
TOTAL FUNDS | 29,393 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 withand delivered in accordance with the special provisions applicable to small charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Mouse News Letter Limited |
Notes to the Financial Statements |
for the Year Ended 30 June 2023 |
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 2019)', 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. |
Charitable activities |
Costs relating to charitable activities comprise those costs incurred by the charity in the delivery of its activities. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature to support them. |
Governance costs |
Governance costs include expenditure attributable directly to the general running of the company as a charity as opposed to costs of the management functions inherent in generating funds and delivering the charitable activities. Apart from an allocation of certain trustee expenses, governance costs include directly attributable costs such as fees for external scrutiny and, where appropriate, legal fees and similar expenses. |
Allocation and apportionment of costs |
Certain expenditure is directly attributable to specific activities and has been included in those cost categories. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
The unrestricted funds of the company have arisen from undistributed surpluses and they can be used in accordance with the charitable objects 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. |
Mouse News Letter Limited |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
2. | OTHER TRADING ACTIVITIES |
30.6.23 | 30.6.22 |
£ | £ |
Royalties receivable | 3,895 | 4,144 |
3. | INVESTMENT INCOME |
30.6.23 | 30.6.22 |
£ | £ |
Deposit account interest |
4. | SUPPORT COSTS |
Governance |
Finance | Other | costs | Totals |
£ | £ | £ | £ |
Governance | 74 | 13 | 1,074 | 1,161 |
5. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
30.6.23 | 30.6.22 |
£ | £ |
Accountancy fees | 1,074 | 858 |
6. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 30 June 2023 nor for the year ended 30 June 2022. |
Trustees' expenses |
During the year no trustees were reimbursed for payments made for trustees' travel and subsistence expenses paid on behalf of the charity. (2022- £685.) |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Trade debtors |
Mouse News Letter Limited |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Accrued expenses |
9. | RELATED PARTY DISCLOSURES |