annual review & accounts year ended 31 march 2015

The MSA Trust is supporting more people affected by MSA than ever before

Annual Review &Financial Statements

Year Ended 31 March 2015

Contents

Foreword

Who we are

Reaching our goals

Supporting people

Finding the cause & cure

Raising awareness

How we fund our work

Our people & network

General information

Report of the Trustees

Statement of Trustees’ responsibilities

Independent Examiner’s report

Statement of Financial Activities

Balance Sheet

Accounting policies

Notes to the financial statements

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2 MSA Trust Annual Review & Financial Statements - Year Ended 31 March 2015 | Company no. 7302036 | Charity no. 1137652

At the heart of everything the Trust does is its commitment to be there for people affected by MSA and to ensure that they are not alone in their journey. Therefore, it is extremely heartening to report that our membership, not only continues to grow, but saw a sharp increase in 2014-2015.

This is mainly down to the amazing determination and efforts of our staff, members and supporters. This includes all the volunteers who deliver leaflets to GP surgeries or stand with collection tins and the eventers who run marathons, skydive, trek the Sahara desert or bake cakes to raise awareness as well as funds for us.

Membership of the Trust remains free of charge as we are committed to ensuring that as many people as possible affected by MSA can access our information and the support of our MSA Nurse Specialists.

With our first five-year strategy in place we have a clear plan of how we want to develop. You can read more about the progress we are making throughout this Review, particularly in the Section ‘Reaching our goals’.

The last year was a year of “firsts”. The first time the Blackpool Tower turned its lights on orange on 3 October to mark World MSA Awareness Day; our first film about MSA; the

first time the BBC Radio 4 Appeal highlighted the work of the MSA Trust. All of these initiatives have helped to raise awareness about MSA and, also, funds for the Trust.

The Trust, like other voluntary sector organisations, saw a small decrease in its income during the last financial year. At the end of March 2015 our overall income reached £642,167.

We are truly indebted to our members and supporters, eventers, charitable trusts and our corporate partners whose generosity enables us to continue our work.

Every one pound donated is important and we are committed to spending our funds as effectively as possible. Therefore, while we increased funding for research to £150,000 during 2014-2015, we also strengthened the remit of our Scientific Advisory Panel to ensure that the grants we fund were of the highest standard and the Panel will monitor the research closely so that we can report progress to members.

As the charity grew, the last year was also a time for “hellos and goodbyes” with several staff changes. We said a fond farewell to Neil Hunter, who left to become a Chief Executive Officer (CEO) of another small charity and we welcomed a new Head of Services,

The Trust is aiming to connect with as many people as possible in the UK and Ireland who have been diagnosed with MSA so that we can support them, their families, friends, carers and the health professionals who care for them. Our overall membership in 2014-2015 grew by over 21%, breaking the 5,000 barrier for the first time and demonstrating significant progress on our aim.

Foreword

3MSA Trust Annual Review & Financial Statements - Year Ended 31 March 2015 | Company no. 7302036 | Charity no. 1137652

Andy Barrick. We also said goodbye to our dedicated Support Officer, Lyn Shaw and welcomed Emma Rushton. Together with our nurses, Andy and Emma have developed new goals for the Services team with an emphasis on connecting with even more people with MSA and providing more information digitally.

Towards the end of March 2015, the Trustees decided it was the right time for the Trust to appoint a full-time CEO. Unfortunately our existing Executive Director, Nickie Roberts, felt she could not take on the full-time role owing to family commitments.

I would personally, on behalf of the Trust, like to thank Nickie for the contribution she has made which cannot be underestimated. A full-time CEO will be recruited in 2015-16.

My gratitude goes out to all the staff who give so much of their time and energy developing services within the Trust to support people living with MSA.

This has been my first year as Chair of the Board of Trustees. I have been struck by the commitment of my fellow Trustees, the staff and members of our Scientific Advisory Panel. Their enthusiasm and dedication is the backbone of the MSA Trust and I’m sure that with increased resources they can achieve even more on behalf of people affected by MSA.

Professor Clare Fowler Chair, MSA Trust Board of Trustees

Professor Clare Fowler was appointed Chair of the Board of Trustees in June 2014


Facts about MSA: ● MSA is a rare neurological disease that

leads to premature death

● there is currently no known cause or cure for MSA

● symptoms usually start between 50 and 60 years of age, but can affect people younger or older

● its effect on the individual, their family and carers is devastating as the disease impacts on a person’s mobility and ability to communicate

● it is random and indiscriminate and can affect any one of us

The Trust has seven core values, we aspire to be:

● led by those we serve

● collaborative

● supportive

● open

● respectful

● committed

● informative

The MSA Trust’s Vision is a world free of MSA.Our Mission is to find the cause and, ultimately, cure for MSA. Until that day, we will do all we can to support people affected by MSA and to strive to ensure that they are not alone in their individual journeys.

We are led by and support people who have MSA, their carers, family and friends and the health professionals who treat them. Here are some examples of our services:

● three MSA Nurse Specialists who work within the MSA community

● a telephone and email support service ● a network of volunteer-led Support

Groups throughout the UK and Eire ● education and awareness raising among

health and care professionals ● management of social media platforms,

such as Facebook and Twitter to develop a sense of community to ease the isolation people affected by MSA often experience

Who we are


In December 2013, after listening to and taking on board the views of our members and supporters, the Trust put in place an ambitious five-year strategic plan. We pledge to listen to members and supporters, and to keep them informed of the progress we make. Throughout this Review we provide examples of how the Trust is taking forward the five-year plan, but here are some highlights on how we are reaching our top five goals:

Reaching our goals

Our Founder, Sarah Matheson, was determined that people affected by MSA would not be alone. The Trust has huge ambitions to carry forward her legacy.


Develop a Volunteer Network

Since beginning our programme to develop volunteer engagement we have received a total of...

In June 2014 we appointed Emma Myers, the Trust’s first Volunteer Coordinator. Emma has over ten years’ experience working with volunteers, supporting fundraising, operations and delivery.

of support to the Trust through a range of activities.

160 hoursTo date, these volunteers have contributed around...

Goal 1:

...which have resulted in the appointment of... 19 NEW volunteers

75enquiries


Goal 2:Educate healthcare professionalsIn the last financial year our healthcare professional members have increased by over...

22%from 1,691 to 2,062 and we have delivered training to over 500 of them at 37 events.

We have placed articles about MSA in specialist health media including nursingtimes.co.uk, e-hospice.co.uk and the British Journal of Neuroscience Nursing.

Since their launch in November over

1,150 copiesof our GP and physiotherapist guides have been downloaded from our website.


Goal 2: Increase commitment to research

Goal 3:

From April 2014 to March 2015, we increased research funding to... £150,000

...and opened our grant round, for the first time, to researchers

across the globe.


Goal 4:Increase support for carersIn June 2014, we published our first guide for carers.

2,000

The numbers of carers, family and friends who have joined us now reaches almost...

We have also run two information days specifically for carers and held our first

Family & Friends Day


Goal 4: Develop a model for MSA Centres

Goal 5:

This has proved to be a

complex taskwith key factors being

funding and the differences in the NHS commissioning processesthroughout the UK.

We are continuing to progress this idea in the growing number of clinics which already have the involvement of our MSA Nurse Specialists, looking for opportunities to build on our presence within these to provide exemplary services to people with MSA.


Supporting people

Since the Trust started we have been battling to reduce the isolation that people experience when living with MSA and to support the families, friends, carers and health and care professionals connected to people with the disease.

All areas of membership grew over the year and we made a new record of 5,000 members in February 2015. This includes people living with MSA, carers and family and friends and health and care professionals. We ended the

Membership is important, but it is the quality of our engagement that is crucial in enabling people with MSA to live their lives as fully as possible.

year with 5,151 members, an increase from 4,249 (21.2%) on the previous year-end.

We ran a total of 85 Support Groups across the UK and Ireland, up from 62 (37% increase) in the previous year, made possible by the fantastic involvement of our volunteer Support Group Leaders. These groups are vital to provide an empathetic place for people to share experiences and to learn from, and give support to, one another.


Our three MSA Nurse Specialists and our support line dealt with over 5,000 enquiries from people who needed individual advice from the Trust, again the highest number we have ever recorded.

Queries can range from how to deal with symptoms of MSA, to advice on caring techniques and practical issues such as continuing healthcare or how to pay for additional costs such as carers, transport or adaptations in the home.

In addition to launching our new Carers Guide we ran two specific events for carers and a Family and Friends Day which was attended by over 70 people. This is the first time we have tried setting up such events and it proved to be a very useful way of engaging health and care professionals.

Our NEW specialist guides for GPs and physiotherapists have proved popular with over...

...and our nurses delivered...

1,000 downloads...since their launch in November 2014,...

37training courses...

...to over 500 health & care professionals during the year, again delivering on members wishes about increasing awareness.


Finding the cause & cureWorking towards our Vision of a world free of MSA


Ensuring our research work is steady and consistent is key to realising our hope of one day freeing the world of MSA. Of course this means having a constant income stream – and thanks go to our amazing fundraisers for their tireless efforts to raise funds for our work – but it also means building networks and collaborations to get the most of every pound we spend on research. Alongside this is heightening interest in MSA within the scientific community so that research into this disease becomes an active career choice, building knowledge and expertise throughout the duration of an individual’s career.

It is particularly encouraging, with this in mind, to report that the April 2014 to March 2015 grant round supported two researchers early in their careers who will be working with established MSA research teams.

PhD student, Dr Aoife Kiely, will be working in Professor Janice Holton’s team at University College London in collaboration with the

Dementia Research Group at the University of Bristol, to investigate how specific enzymes affect levels of alpha-synuclein. In people with MSA, the protein alpha-synuclein accumulates in parts of the brain and is not removed as it is in healthy people. It is thought this causes atrophy or shrinkage of those parts of the brain, resulting in the symptoms of MSA. The Trust has awarded £100,000 for this project which, it is hoped, will improve our understanding of the cause of MSA and, with that, opportunities to treat the disease.

We also awarded a grant to Dr Lucia Schottlaender, a research fellow at University College London where she is studying for her PhD. She, and the wider research team, will be hoping to take early steps towards developing a blood marker for MSA which may, in time, provide a reliable test for diagnosing the disease. Although the team think finding an effective treatment may still be some way off, they hope their research will prove to be an important part of that process.

Further details on our Research Strategy 2014-2017 & our grants can be found on our website.

Dr Lucia Schottlaender Dr Aoife Kiely


Raising awareness

We’ve been working really hard to raise awareness about MSA and while we still have a long way to go, we have made some real progress. Special thanks to all our eventers who not only take on amazing challenges to raise money, but who are also willing to speak to journalists about how MSA has affected them.

World MSA Awareness Day 2014 (3 October) was exciting as we launched our first film and, Nuala, a member in the North West campaigned tirelessly for the managers of the Blackpool Tower to turn the lights orange on 3 October to raise awareness about MSA. She succeeded and the event was covered in local press and made some big noise on social media.

What a year for raising awareness about MSA: our first film; the Blackpool Tower lights turned orange and MSA was featured on the BBC and in the Daily Mirror.

The number of eventers who were mentioned in the media is impressive and they have played an enormous role in raising awareness of MSA. Their personal accounts help to make the story of life with MSA real to readers. Julie, a keen equestrian who has MSA but is determined to compete in the 2016 Paralympics in Rio featured in the Daily Mirror, BBC TV and Radio 5 Live; Nick and Heather walked the Sahara Trek and featured in the Yorkshire Post and Lancaster Guardian; Vicky who stopped dying her hair and went grey for MSA was photographed in the Leamington Observer and David, who donated funds from his book of childhood memories as an evacuee in Scotland, was interviewed by the Dundee Courier.

Raising awareness is about working together, and the last year shows how much can be achieved when we do.


Facebook likes & Twitter followersOur online communities are growing, they help people connect, easing the isolation experienced by people affected by MSA

2,159

661

3,373

1,003

March 2014 April 2015


How we fund our workWithout the support of our amazing donors in the last financial year, we would not have been able to fund research projects and increase the range of support we give to people affected by MSA.

“We are truly indebted to our wonderful fundraisers who continually amaze us with their innovative ideas to raise money for the Trust.


In the second week of January 2015 our fundraising events kicked off with the BBC Radio 4 Appeal, presented by our MSA Champion and world famous playwright, Sir David Hare. The Appeal delivered greater awareness of the vital services the Trust provides, recruited new members and raised over £14,000.

Our corporate partnership scheme expanded with Mask-arade Ltd joining Klondyke Garden Centres as official ‘charity of the year’ partners. The Trust continues to develop relationships with the corporate sector and saw income from companies increase by 8%, raising over £27,000 for the first time.

With our members seeking more opportunities to get involved, 2014-2015 saw the launch of our inaugural Christmas Raffle raising £2,000 and a second Service of Light at St Anne’s Church in Manchester was added to our events calendar. Both the London and Manchester Service of Light events were very well attended by members who wished to remember the lives of their loved ones.

Local community schemes run by Asda Group plc and Waitrose Ltd raised £6,000. These have helped to raise awareness of the Trust’s vital services as well as funds to help sustain the Trust’s operations. To align awareness raising and fundraising practise we regularly held talks with Rotary Club members across the UK.

We would like to thank our major donors and trusts and foundations who supported the Trust so generously in 2014-15, including:

● Mrs Rachel Bache

● Cycle to Cannes Trustees

● The Ad Meliora Charitable Trust

● The Alice Ellen Cooper Dean Charitable Foundation

● The Aylesford Family Charitable Trust

● Banham Foundation Limited

● The Boshier-Hinton Foundation

● Cantiacorum Foundation

● The David Gibbons Foundation

● The Ratcliffe Charitable Trust

● The R S MacDonald Charitable Trust

● The Swire Charitable Trust.


PatronsSir Roger Bannister CBE FRCP Professor CJ Mathias DPhil DSc FRCP

TrusteesMichael Evans Professor David Burn Professor Clare Fowler CBE FRCP Darcy Hare (retired in March 2015) Alexander Loehnis Christopher Marsden (retired December 2014) Geoffrey Murray Clare Powell Karen Walker Hugh Matheson

MSA Trust Office (new members of staff during April 2014 to March 2015)

Andy Barrick (Head of Services) September 2014

Emma Myers (Volunteer Coordinator) July 2014

Emma Rushton (Services Support Officer) August 2014

Joan Smith (Interim Head of Fundraising while Katie Heyward is on maternity leave)September 2014

Melissa Tindle (Events and Community Fundraising Manager) September 2014

MSA Nurse Specialists Jill Lyons (West of England and Wales)

Samantha Pavey (East of England)

Katie Rigg (North of England, Scotland and Ireland)

Scientific Advisory PanelDr Nin Bajaj, Consultant Neurologist, Queen’s Medical Centre, Nottingham

Professor David Burn, (Trustee and Chairman of the Scientific Advisory Panel), Director of Institute for Ageing and Health, and Professor of Movement Disorders Neurology, Newcastle University

Professor David Mann, Neurodegeneration and Mental Health Researcher, School of Community Based Medicine, University of Manchester

Professor Huw Morris, Neurology and Neurogenetics, Royal Free Hospital, London

Mr David Oldershaw, Lay member

Dr Anette Schrag, Reader in Clinical Neurology, University College London

John Telford, lay member

Professor Gregor Wenning, Consultant Neurologist, Innsbruck Medical University

Our people & network


Inverurie

Fife

Northumberland

East YorkshireSouthport

Warrington

Shropshire

Derbyshire

West Midlands

Lincolnshire

East Midlands

Essex

Kent

West Sussex

SurreyLondon

Oxfordshire

Devon

Cornwall

Norfolk/SuffolkLimerick

Manchester

Wiltshire

Dorset

Cork

Belfast

Lanarkshire

Cambridge

South Yorkshire

Dublin

Enniskillen

Gloucestershire

Support Groups that took place from 1 April 2014 to 31 March 2015


Company status

Trustees

Company Secretary

Company number

Registered charity number Registered address

Auditors

Bankers

The company is limited by guarantee, exempted from the requirement to use the word ‘limited’ in its title, and registered as a charity.

The company was incorporated on 1 July 2010.

Michael Evans Professor David Burn Professor Clare Fowler CBE FRCP (Chair)Karen Walker (Vice-Chair) Darcy Hare (retired March 2015) Alexander Loehnis Christopher Marsden (retired December 2014) Hugh Matheson Geoffrey Murray Clare Powell

Nicola Roberts

07302036 (England)

1137652 (England & Wales) and SC044535 (Scotland)

Southbank House Black Prince Road London SE1 7SJ

Dixon Wilson 22 Chancery Lane London WC2A 1LS

CAF Bank Limited 25 Kings Hill Avenue West Malling Kent ME19 4JQ

General information


Report of the Trustees

Our VisionOur Vision is a world free of MSA.

Our Mission Our Mission is to find the cause and, ultimately, cure for MSA. Until that day, we will do all we can to support people affected by MSA and to strive to ensure that they are not alone in their individual journeys.

Governance The Trust was set up by a Trust Deed on 28 January 1997 as a registered charity number 1062308. In order to develop its services the Trust became a charitable company limited by guarantee, incorporated on 1 July 2010 and registered as a charity under its then new name of Multiple System Atrophy Trust on 27 August 2010. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed by its Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £1. To capture any funding donated in the charity’s old name of the Sarah Matheson Trust, particularly in the form of a legacy bequest, the Trust’s original charity registration 1062308 is still in force, although will be used only for the above purpose. On 18 December 2013 the Trust was registered

The trustees present their report along with the financial statements of the charity for the period ended 31 March 2015. The financial statements have been prepared in accordance with the accounting policies set out on page 23 and comply with the charity’s governing document and applicable law.

as a charity number SC044535 by the Office of the Scottish Charity Regulator (OSCR).

The Trust’s Objects are to advance and protect the health of the public, in particular by:

a. the provision of information and support to those affected by multiple system atrophy (MSA), their families and carers

b. educating and informing healthcare professionals on all aspects of MSA

c. promoting and sponsoring research into the causes, diagnosis and treatment of MSA

d. improving awareness and understanding of MSA

e. promoting the extension of the range of support services available to people with MSA, their families and carers, and

f. working with other charities which support those affected by MSA or other neurological conditions

The Trust makes grants for research in accordance with its Objects, in line with its published Research Strategy and through a peer review process.


Recruitment and appointment of the Trustee BoardThe directors of the company are also charity Trustees for the purposes of charity law and under the company’s Articles are known as Trustees. The role of Chair is for a term of three years with the possibility of extending for one further period of three years; the term of office for Trustees is three years with extension for a second and possibility of serving a third term. Many of the serving Trustees have had some experience of MSA, or have close friends who did so. The Trust advertises on its own website, on its Facebook page and within the membership magazine for new Trustees, as well as using external agencies.

At the beginning of 2015 the Trust undertook a targeted Trustee recruitment exercise, looking specifically for individuals with expertise in finance, human resources, IT and marketing/communications. The process was still underway at the end of March 2015.

All members of the Trustee Board give their time voluntarily and receive no benefits from the charity.

The Trustees during the period covered by this Report April 2014 to March 2015 were as follows:

Michael Evans Professor David Burn Professor Clare Fowler CBE FRCP (Chair) Darcy Hare (retired March 2015) Alexander Loehnis Christopher Marsden (retired December 2014) Hugh Matheson Geoffrey Murray Clare Powell Karen Walker (Vice-Chair)

Changes to the Board during the period of 1 April 2014 to 31 March 2015 were as follows:

Christopher Marsden (retired as Trustee 09 December 2014) Darcy Hare (retired as Trustee 17 March 2015)

The Trust is indebted to the contribution all Trustees have made to the ongoing work of the charity.

Trustee induction and trainingThe Trust is committed to providing ongoing training for all of its Trustees to support them in their role.

Risk managementThe Trustees have assessed the major risk to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems are in place to mitigate its exposure to them.

Financial reviewThe charity received income of £642,000 for the year (2014 - £652,000) which includes £5,000 (2014 - £4,000) from the Sarah Matheson Trust.

Expenditure during the year was £850,000 (2014 - £759,000) of this £185,000 was spent on research and £343,000 was spent on information and support including the MSA Nurse Specialists.

Research projects can be conducted over several years. As a result, the timing of research grants being taken up by a successful grant applicant may not match or be in the same financial year as the financial year that the grant was approved and recognised in the accounts. Additionally, the nature of setting up a research project (eg, recruitment) may result in delay in the take-


up of funds by a successful grant applicant with the result that the payment may not be recorded in the same financial year as the grant is made.

Reserves policyDuring the year the Trustees, at the same time as developing the Trust’s strategic plan for the next five years, reviewed its reserves policy in line with meeting its strategic goals. Should all new funding cease for any unforeseen reason, the Trustees believe it is prudent to hold a minimum cash balance to cover six months non-grant expenditure, plus any outstanding research grant commitments.

Public benefitThe Trustees, having regard to the public benefit guidance published by the Charities Commission, in accordance with Section 17 of the Charities Act 2011, consider that the purpose of activities of the charity satisfy the requirements of the public benefit as set out in Section 4 of the same Act.

This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (revised 2015) and in accordance with the provisions applicable to companies subject to the small companies regime in Part 15 of the Companies Act 2006.

Disclosure of information to the Independent ExaminersEach Trustee confirms so far as they are aware that there is no relevant audit information which has not been made available to the Charity’s Independent Examiners and that they each have taken all the steps they ought reasonably to have done as the Charity’s Trustees to make themselves aware of any relevant information and to establish that the Charity’s Independent Examiners are aware of the information.

DeclarationI declare in my capacity of charity Trustee that: The Trustees have approved the report above and have authorised me to sign it on their behalf.

PROFESSOR CLARE FOWLER CBE FRCP

Chair of Trustees

...............…….................201528 October


Statement of Trustees’ responsibilitiesYear ended 31 March 2015

Trustees’ responsibilities in relation to the financial statementsThe trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations.

Company law requires the trustees to prepare the financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 the profit or loss of the company for that period. In preparing these financial statements, the trustees are required to:Select suitable accounting policies and then apply them consistently;

● select suitable accounting policies and then apply them consistently;

● make judgments and accounting estimates that are reasonable and prudent;

● 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.


INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE MULTIPLE SYSTEM ATROPHY TRUSTI report on the account of the charity for the year ended 31 March 2015, which are set out below.

Respective responsibilities of trustees and examinerThe charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Act) and that an independent examination is needed. I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.

It is my responsibility to:

● examine the accounts under section 145 of the Act;

● follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Act; and

● state whether particular matters have come to my attention.

Basis of independent examiner’s reportMy examination was carried out in accordance with the general Directions given by the Charity Commission. 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 no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent Examiner’s reportYear ended 31 March 2015


Independent Examiner’s reportYear ended 31 March 2015

Independent examiner’s statementIn 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 386 of the Companies Act 2006 and section 44(1)(a) of the 2005 Act and

● to prepare accounts which accord with the accounting records, comply with the accounting requirements of the Companies Act 2006, section 44(1)(b) of the 2005 Act and Regulation 8 of the 2006 Accounts Regulations and

● which are consistent with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities

● 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.

J K KIDGELL ACA CTA

Dixon Wilson 22 Chancery Lane London WC2A 1LS

...............…………………..201528 October


Note

Unrestricted income

fund £

Restricted income

fund £

Total funds 2015

£

Total funds 2014

£

Incoming resourcesIncoming resources from generated fundsVoluntary income 294,232 153,398 447,630 425,870Activities for generating funds 180,865 10,413 191,278 219,533Investment income 3,259 - 3,259 6,233

Total incoming resources 2 478,356 163,811 642,167 651,636

Resources expendedCost of generating funds 4 234,156 11,566 245,722 166,155Charitable activities 5 325,881 202,489 528,370 523,603Governance costs 6 76,371 - 76,371 69,651

Total resources expended 18 636,408 214,055 850,463 759,409

Net outgoing resources 3 (158,052) (50,244) (208,296) (107,773)

Other recognised gains & losesUnrealised gain on revaluation of investments to market value

9 11,404 - 11,404 9,077

Net movement in funds (146,648) (50,244) (196,892) (98,696)Balance at 31 March 2014 444,118 117,621 561,739 660,435

Balance at 31 March 2015 18 297,470 67,377 364,847 561,739

Statement of Financial Activities(including an income and expenditure account) Year ended 31 March 2015


Note

Unrestricted income

funds £

Restricted income

funds £

Total funds 2015

£

Total funds 2014

£

Fixed assetsTangible assets 8 4,932 - 4,932 3,175Investments at market value 9 111,988 - 111,988 100,583

116,920 - 116,920 103,758

Current assetsDebtors 10 71,440 - 71,440 22,534Stocks 11 1,756 - 1,756 1,194Cash at bank 12 491,841 67,377 559,218 783,645

565,037 67,377 632,414 807,373

Creditors: amounts falling due within one year

13 (232,146) - (232,146) (76,876)

Net current assets 332,891 67,377 400,268 730,497

Total assets less current liabilities 449,811 67,377 517,188 834,255

Creditors: amounts falling due after more than one year

14 (152,341) - (152,341) (272,516)

Net assets 297,470 67,377 364,847 561,739

FundsUnrestricted income reserve 275,483 - 275,483 433,535Unrestricted income revaluation reserve 10,583 21,987 - 21,987Restricted income fund - 67,377 67,377 117,621

18 297,470 67,377 364,847 561,739

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standards for smaller entities (effective April 2008). For the year ending 31 March 2015 the company was entitled to exemption under Section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with Section 476. The financial statements were approved by the Trustees on 28 October 2015 and were signed on their behalf by:-

PROFESSOR CLARE FOWLER CBE FRCPChair of Trustees

Balance SheetAt 31 March 2015


The financial statements have been prepared in accordance with applicable accounting standards and with the Statement of Recommended Practice (Revised 2005) - Accounting and Reporting by Charities and in accordance with the Financial Reporting Standard from Smaller Entities (effective April 2008). The particular accounting policies adopted are described below.

Basis of accountingThe financial statements have been prepared under the historical cost convention modified by the inclusion of fixed asset investments at market value.

IncomeAll income is recognised in the statement of financial activities when the trust has entitlement to the income and there is reasonable assurance of receipt.

ExpenditureGrants payable are recognised in the year in which the Trustees are unconditionally committed to making the grant. Other expenditure is recognised on an accruals basis.

Tangible fixed assetsTangible fixed assets are stated at cost less depreciation.

InvestmentsInvestments are included in the balance sheet at their market value. All realised and unrealised gains are taken to the statement of financial activities.

Fund AccountingDetails of the nature of each fund is set out in note 15.

StockStock is valued at lower of cost and net realisable value.

Accounting policiesYear ended 31 March 2015


1. StatusThe company is limited by guarantee and has no share capital

2. Incoming resources

Unrestricted income

fund £

Restricted income

fund £

Total 2015

£

Total 2014

£

Income from activities for generating fundsEvent income 171,219 10,413 181,632 207,442Merchandise 9,646 - 9,646 12,091

180,865 10,413 191,278 219,533

Investment incomeInterest receivable from UK deposit account

3,259 - 3,259 6,233

Voluntary incomeDonations under the Gift Aid scheme 40,556 - 40,556 33,148Legacies & Memoriam donations 72,805 - 72,805 129,990Other donations 180,871 153,398 334,269 262,732

294,232 153,398 447,630 425,870

Total incoming resources 478,356 163,811 642,167 651,636

Other donations includes a donation of £5,000 (2014 - £3,826) from the unincorporated charity Autonomic Disorders Association Sarah Matheson Trust.

3. Net incoming/(outgoing) resources have been stated after charging:

2015 £

2014 £

Auditor’s remuneration - 500Depreciation 1,101 182Operating lease costs 43,384 25,851

Notes to the financial statementsYear ended 31 March 2015


4. Cost of generating funds2015

£2014

£

Merchandise 5,062 6,384

Events & catering 10,410 9,778

Salaries 150,552 112,709

Rent 18,127 10,340

Office costs 15,238 13,234

Sundry 137 114

PR & Marketing 34,653 13,573

234,156 166,155

5. Charitable activities

Unrestricted income

fund £

Restricted income

fund £

Total 2015

£

Total 2014

£

Nurses’ salaries & expenses 53,929 33,889 87,818 99,233Research 84,424 100,679 185,103 252,166Info & patient support 187,528 67,921 255,449 172,204

325,881 202,489 528,370 523,603

6. Governance costs2015

£2014

£

Accountancy fees 385 3,247Audit fees - 500Professional fees 3,007 6,248Management fees 20,809 20,147Salaries 31,435 23,916Pensions 2,068 1,092Trustees’ meetings 3,271 2,430Rent 5,861 3,878Office costs 9,535 8,193

76,371 69,651

During the year the Trustees did not receive any remuneration or reimbursement of expenses.



7. Staff costs 2015 2014

The average number of persons employed by the charity during the year was:Office and nurse staff 9 7

£ £Gross wages 306,434 216,618

Employer’s NIC 19,552 22,592

Pensions 38,014 13,940

364,000 253,150

A total of 12 staff were under employment during the year, of which 7 are part time, making a total of 9 full time equivalent staff.

No employee (including benefits) earned more than £60,000 in the year.

8. Tangible fixed assets

Office equipment

£

Patient aids

£Total

£

Cost or valuationAt 1 April 2014 9,960 49,027 58,987Additions 2,858 - 2,858

At 31 March 2015 12,818 49,027 61,845

DepreciationAt 1 April 2014 6,785 49,027 55,812Charge for the year 1,101 - 1,101

At 31 March 2015 7,886 49,027 56,913

Net book valueAt 31 March 2015 4,932 - 4,932

At 31 March 2014 3,175 - 3,175



9. Investments2015

£2014

£

Market valueAt 1 April 2014 100,583 91,506

Net gain on revaluation 11,405 9,077

At 31 March 2015 111,988 100,583

Cost 31 March

2015£

Market value 31 March

2014 £

The Trustees’ investments were made up as follows:

COIF Charities Investment Fund 30,000 46,333

Charities Property Fund 30,000 23,064

M&G Charifund Inc 30,000 42,591

All of the investments are listed. 90,000 111,988

10. Debtors2015

£2014

£

Trade debtors 45,738 2,843Other debtors 25,702 19,691Accrued income - -

71,440 22,534

11. Stock2015

£2014

£

Finished goods: merchandise 1,756 1,194



12. Cash at bank

Unrestricted income

funds £

Restricted income

funds £

Total funds 2015

£

Total funds 2014

£

Cash committed for research grant funding 350,878 - 350,878 297,554Other cash 140,963 67,377 208,340 486,091

491,841 67,377 559,218 783,645

13. Creditors: amounts falling due within one year

2015 £

2014 £

Research grants 198,535 60,458Other creditors 33,611 16,418

232,146 76,876

Research grants are for focused research projects that vary in length and have been categorised on forecast expenditure requirements.

14. Creditors: amounts falling due after more than one year

Research grants 152,341 272,516

Research grants are for focused research projects that vary in length and have been categorised on forecast expenditure requirements.

15. Operating lease commitments

As at 31 March 2015 there were annual commitments under non-cancellable operating leases as follows:Within one year 7,710 7,710

16. Funds

Unrestricted Income Fund - comprises the undistributed income of the charity and the trustees are free to use these resources in accordance with the objects of this charity.Restricted Income Fund - comprises donations made to fund the cost of employing specialist nurses and research funding.



18. Restricted fundsCarer’s Appeal Research

Scottish Nurse

Alternative Therapy Giger

Regional Core Total

Brought forward funds

11,566 96,408 7,803 1,844 - - 117,621

Income arising in the year

- 68,421 26,086 1,383 26,552 41,369 163,811

Expenses paid during the year

(11,566) (100,679) (33,889) - (26,552) (41,369) (214,055)

Carried forward funds

- 64,150 - 3,227 - - 67,377


17. Related party transactions

During the year the company received management and book-keeping services amounting to £20,809 (2014 - £20,197) from Pierrepont Estates Management Company Limited, a company in which H P Matheson, a director, has a material interest.The balance owing to Pierrepont Estate Management Company Limited at the year end was £1,785 (2014 - £1,772).All transactions are undertaken on an arm’s length basis.


Phone0333 323 4591

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Registered in England as Charity No. 1137652 Company No. 7302036

Our Vision: a world free of MSAOur Mission: to find the cause and, ultimately, cure for MSA. Until that day, we will do all we can to support people affected by MSA and to strive to ensure that they are not alone on their individual journeys.

Multiple System Atrophy Trust

51 St Olav’s Court City Business Centre

Lower Road London SE16 2XB

annual review & accounts year ended 31 march 2015

Documents