Message Registered number: 06981121Charity number: 1132271ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED(A company limited by guarantee)UNAUDITEDTRUSTEES' REPORT AND FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 MARCH 2024
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED (A company limited by guarantee) CONTENTSPageReference and administrative details of the company, its Trustees and advisers 1Trustees' report 2 - 8Independent examiner's report 9Statement of financial activities 10Balance sheet 11Notes to the financial statements 12 - 30
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERSFOR THE YEAR ENDED 31 MARCH 2024Trustees Nicholas JonesAilsa ArthurSarah ChikhaniRachel ThomasDr Florence Osborne, ChairDr Charlotte DawsonKempton ReesCompany registered number06981121Charity registered number1132271Registered officeBlack Country House, Rounds Green Road, Oldbury, West Midlands, B69 2DGIndependent examinerCrowe U.K. LLP, Black Country House, Rounds Green Road, Oldbury, West Midlands, B69 2DGPage 1
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED (A company limited by guarantee) TRUSTEES' REPORTFOR THE YEAR ENDED 31 MARCH 2024The Trustees present their annual report together with the financial statements of the company for the year 1April 2023 to 31 March 2024. The Annual report serves the purposes of both a Trustees' report and a directors'report under company law. The Trustees confirm that the Annual report and financial statements of thecharitable company comply with the current statutory requirements, the requirements of the charitable company'sgoverning document and the provisions of the Statement of Recommended Practice (SORP) applicable tocharities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK andRepublic of Ireland (FRS102) (effective 1 January 2019). Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic reportrequired of medium and large companies under the Companies Act 2006 (Strategic Report and Directors'Report) Regulations 2013 has been omitted. Objectives and activities a. Policies and objectives The objects of the Association for Glycogen Storage Disease (UK) as recorded in its Memorandum ofAssociation, is “The relief of sickness, particularly of persons suffering from any form of Glycogen StorageDisease”. The Association works to protect and promote the best interests of persons affected by GSD. Public BenefitThe Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have dueregard to public benefit guidance published by the Commission in determining the activities undertaken by theCharity. The Charity Commission in its "Charities and Public Benefit" Guidance states that there are two key principles tobe met in order to show that an organisation's aims are for the public benefit: firstly, there must be an identifiablebenefit and secondly, that benefit must be to the public or a section of the public. The Trustees are satisfied thatthe aims and objectives of the charity, and the activities reported on below to achieve those aims, meet theseprinciples. b. Strategies for achieving objectives The Association acts as a vehicle of communication on GSD related matters by publishing and distributingrelevant material. It contributes to the advancement of treatments and cures through sponsorship of research,studies and trials. It acts as a focus for educational, scientific and charitable activities related to GSD. TheAssociation liaises with other GSD Associations around the world. Please see Review of activities section fordetails of our current strategy. c. Activities undertaken to achieve objectives The main activities are the support of patients and families; the organising of conferences and workshops topromote understanding of the disease; the publication of a newsletter; the provision of information aboutGlycogen Storage Disease through publications and a web site; and the provision of grants to research bodiesand individuals. These activities support the objects by assisting patients; by encouraging and supportingresearch into the disease and by educating the medical profession and concerned members of the generalpublic about the disease. Page 2
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED (A company limited by guarantee) TRUSTEES' REPORT (CONTINUED)FOR THE YEAR ENDED 31 MARCH 2024Objectives and activities (continued)d. Grant-making policies The Association receives applications for grants to support research projects in relation to Glycogen StorageDisease. Applications for grants are considered by the Board of Trustees and by members of the Association’sMedical Advisory Board. Whenever possible the Association co-sponsor together with other charities orfoundations. The Association also occasionally makes small grants to individual applicants for personalexpenses associated with their treatment, care and well-being. Achievements and performance a. Review of activities During the 2023-24 financial year, we continued work to deliver our current strategic goals. These are framedaround the priorities identified by people affected by GSDs through community research and a listening exercise.They comprise: Theme: Support across the community. Goal: Everyone affected will be connected to an active and supportive GSD community. Theme: Help with living well. Goal: People with any GSD will be offered the information and activities they need to live well with the condition. Theme: Better treatments and service access. Goal: The community will experience improved management, treatment and service access. Theme: Strong and effective organisation. Goal: AGSD-UK will grow sustainably, with robust governance, to increase our impact. Our progress against these goals is outlined below.Support across the community In May 2023 for the first time since the Covid pandemic we were able to hold an in-person weekend event forcommunity members.The event attracted over 100 people affected by a range of GSDs over the course of the weekend. The programme was developed in partnership with people affected and in line with our three goals it wasdesigned to include opportunities for: • meeting and sharing experiences with other people affected • discussing key topics relating to life with the condition and trying out new therapeutic activities• hearing from leading experts about latest research and developments in treatment and management of thedifferent GSDsThe evaluation forms completed showed that: • 98% said the event enabled them to connect with others with similar experiences• 98% said the event gave them the chance to gain tips about living with GSDs• 96% said the event allowed them to become better informed about research and developments in the field of GSDs Page 3
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED (A company limited by guarantee) TRUSTEES' REPORT (CONTINUED)FOR THE YEAR ENDED 31 MARCH 2024Achievements and performance (continued)• 95% said the event provided the opportunity to get information about support and services that are available • 100% said they had fun and enjoyed themselvesWe have been overwhelmed by the volume of positive feedback received, of which the following are just a smallselection of typical examples:• “Spot on excellent. Love to come again.”• “Learned more about my disease today than I ever have before.”• “Great organisation. Informative programme and social opportunity to connect with others.”• “Fabulous weekend! ...Loved the whole conference. Great speakers and workshops.”• “It was a very positive weekend. Informative and fun.”• “Our first one, loved every minute. Thank you! We’ll be back next year. I’ve learned more today than when my son was diagnosed.”Over the course of the financial year our care advisor and benefits service provided support to more than 150individuals and families. This involved liaison with multiple agencies, including social services, education, health,children’s services, family support charities, housing and employers.The range of emotional and practical support provided included help for community members to secure:• Home adaptations and living aids• Additional support through education, health and care plans • Reasonable adjustments at work• Access to a full range of benefit entitlements plus financial support grants• Enhanced social care packagesThe feedback received reflected the difference the service had made for people affected, as shown by theseexamples:• “Having the support and resources provided by AGSD charity is not only incredibly valuable but alsouplifting...The impact they make on people's lives is truly remarkable, and I am grateful to have them by myside.”• “It is rare to find understanding and empathy like yours and it has been invaluable discussing the challenges weface as a family with someone who has knowledge of this rare condition.”• “You have made me feel that I’m not a nuisance and that my feelings did matter at work.”• “I have Pompe disease, which has confined me mostly to the upstairs of my home...Given my mobility issues,frequent trips up and down were impossible... [AGSD-UK’s] efforts resulted in securing funding for a downstairsroom and bathroom...I had no idea that such assistance was possible, and I cannot overstate how much havinga downstairs room will positively impact my life.”• “Your organisation's commitment to diversity and cultural sensitivity is greatly appreciated, and it is evident thatyou are making a real difference in the lives of those you assist.”Page 4
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED (A company limited by guarantee) TRUSTEES' REPORT (CONTINUED)FOR THE YEAR ENDED 31 MARCH 2024Achievements and performance (continued)Help with living wellDuring 2023-24 we began a series of online Living well socials offering the opportunity to try out differenttherapeutic activities such as guided visualisation and affirmations.The sessions have had a loyal following with people staying in touch and supporting each other in between andhave attracted very positive feedback:• “I am absolutely thrilled and immensely grateful for the positive mindset social meeting. It was truly a wonderfulexperience. Managing life while dealing with a child who has no cure can be incredibly challenging, and havingthis support system is like a breath of fresh air. I felt rejuvenated and uplifted after attending.”• “We were led into positive thinking and positive affirmations, and the time went too quickly. An hour later, we’dmade new friends, re-acquainted ourselves with others, and we know there’s always someone there for us, andthat we are well supported.”• “The energy everyone brought was fantastic, and the discussion topic was particularly engaging. I'm eagerlyanticipating our next session.”Meanwhile three McArdle's walking courses, one for adults; one for children and parents; plus a future leaders’course, collectively attracted 42 people –the largest number ever. Feedback, as always, was extremely positiveand huge thanks go Andrew Wakelin for his leadership and to all the volunteers who made the courses such asuccess.• “The care, planning and support all week were exemplary!”• “This week [we] had a glimpse that McArdle’s can give our children more than it takes. This was profoundfor us.”We continued to publish regular editions of our Glisten magazine, reaching over 1,500 community members withits wide ranging content including latest developments, management tips and experiences of life with thecondition. There were 37,460 visits to our website, which provides information and signposting about differentGSD variants and we also developed new information sheets that were very well received:• “These are super! Very helpful and full of good advice/ ideas.”Better treatments and service access During this period we took every opportunity to support GSD community members to participate in research,helping health professionals and market researchers with study design, securing community involvement indeveloping patient information for therapy trials, promoting participation in discussion to support ethicscommittee applications and helping to shape and recruit to a number of surveys relating to different GSDs. Wewere delighted that the generous support of the Mosawi Foundation enabled us to fund two PhD programmes atLoughborough University. These relate to diet, exercise and mental health in hepatic GSDs, which had beenidentified as priorities for further investigation and information provision.We successfully contributed evidence to NICE, the Scottish Medicines Consortium and the All Wales MedicinesStrategy Group supporting access to new enzyme replacement therapies for Pompe, resulting in much neededtreatment options for people affected. We fielded an expert McArdle’s team at a meeting to foster collaborationswith drug development companies to prompt the development of treatments for unmet needs, and generated anumber of leads to follow up. We took part in an international online focus group bringing the APBD and GSD IVcommunities together to identify priority areas for collaboration and work towards making therapies a reality. Wealso attended and facilitated professionals’ meetings, continuing our work in partnership with other organisationsto drive improvements in care.Page 5
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED (A company limited by guarantee) TRUSTEES' REPORT (CONTINUED)FOR THE YEAR ENDED 31 MARCH 2024Achievements and performance (continued)Strong and effective organisationWe continued our work to benchmark the organisation against established voluntary sector standards,strengthening our processes and policies to ensure these are robust and in line with best practice. This includeddeveloping a clear statement of our values and reviewing the way we recognise the dedicated volunteers whoare so vital to our work and to whom we give our heartfelt thanks. Financial review a. Going concern The trustees have reasonable expectation that the company has adequate resources to continue in operationalexistence for the foreseeable future. They continue to believe the going concern basis of accounting isappropriate in preparing the annual financial statements. b. Reserves policy The Association holds some funds that are restricted in expenditure in support of particular GSD Types andother projects (see note 17). The general reserves are used to support the on going activities of the Association.The unrestricted general reserve now stands at £43,859 which is an increase from the previous year (£24,159).The trustees’ future focus will be on increasing income while tightly managing costs. The total restricted funds isnow £84,223 (2023: £59,194). In line with most small charities AGSD UK aims to spend most of the funds raised during any given financial yearfor the benefit of its members and the public and not to build up a large general reserve. The trustees haveagreed to adopt a reserve policy that seeks to carry forward an unrestricted general reserve figure that is nogreater than 25% of total in year expenditure.The funds freely available for use by the charity at the year end at the discretion of the Trustees, amount to theunrestricted reserves less the unrestricted tangible fixed assets of £798. Our free reserves at 31 March 2024 aretherefore £43,061 (2023: £23,145). c. Investment policy and performance The Association holds its cash reserves in bank deposit accounts thus eliminating investment risk andminimising any other risk to the reserves. No long term deposits are made as it is anticipated that the reserveswill continue to be called upon to support a high level of activity. Structure, governance and management a. Constitution The company is registered as a charitable company limited by guarantee and was set up under a Memorandumof Association. The company is constituted under a Memorandum of Association dated 05/08/2009 and is aregistered charity number 1132271. The principal object of the company is to provide "The relief of sickness,particularly of persons suffering from any form of Glycogen Storage Disease". Page 6
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED (A company limited by guarantee) TRUSTEES' REPORT (CONTINUED)FOR THE YEAR ENDED 31 MARCH 2024Structure, governance and management (continued)b. Methods of appointment or election of Trustees The management of the company is the responsibility of the Trustees who are elected and/or co opted under theterms of the Articles of Association. Any full member of the Association may be nominated to stand for electionto the Board of Trustees. The Trustees have the power to co-opt new Trustees who are then required to standfor election at the next AGM. c. Organisational structure and decision-making policies The Association is a membership based association, with full membership being open to anyone affected byGlycogen Storage Disease and the close family of such persons. The members elect the Board of Trustees. TheBoard of Trustees elects its own officers. The Board of Trustees are responsible for ensuring that the charitycomplies with all relevant regulations and files its annual report and accounts with the Charity Commission andCompanies House.The Board of Trustees delivers the strategy through the Chief Executive and any other staff plus a range ofvolunteers.The Board appoint a volunteer Co-ordinator for each of the GSD types, wherever possible. The defined role iswide ranging and is not necessarily entirely relevant or practical for each GSD Type, where the numbers affectedand their needs vary enormously. The Co-ordinators meet as a group three times a year for peer support anddevelopment in their role. d. Pay policy for key management personnel The company currently has one part-time permanent member of staff – the Chief Executive, with four part-timefreelance team members.The remuneration for key management posts was benchmarked at or below market rate prior to appointmentand is reviewed by Trustees annually. e. Financial risk management The Trustees have assessed the major risks to which the company is exposed, in particular those related to theoperations and finances of the company, and are satisfied that systems and procedures are in place to mitigateexposure to the major risks. f. Risk Management The Trustees have assessed the major risks to which the company is exposed. The current major risks to thecharity are primarily in the areas of operation and finance as follows:Income generationCost controlBanking controlI.T. stability and securityAdoption of and adherence to policies and proceduresLoss of key personnelThe Trustees are satisfied that systems, procedures and plans are in place to mitigate exposure to major risks.Page 7
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED (A company limited by guarantee) TRUSTEES' REPORT (CONTINUED)FOR THE YEAR ENDED 31 MARCH 2024Structure, governance and management (continued) Plans for future periods For the period April 2024-March 25 our focus remains on delivery of our plan in support of our strategy goals.We aim to increase the range of on and off line support and activities we offer, including staging a further highly-valued, full-scale community event, to connect people affected with others experiencing this rare and isolatingcondition and equip them with approaches that help with living well. We will also take forward funding of two PhDstudentships focused on eating, exercise, mental health and digital biomarkers in hepatic GSDs which aim togenerate evidence-based pathways and resources for better management of the condition for people affectedand professionals. In order to support these activities we continue our development of community fundraising and applications togrant making trusts, as well as our engagement with organisations in the field. We are hugely grateful to all thoseindividuals who have helped raise funds for our vital services and to the trusts and treatment industry partnersincluding Amicus, Astellas, Beam, the Mosawi Foundation, Sanofi, Spark, Ultragenyx and Vitaflo, whosecharitable donations make our work possible. Statement of Trustees' responsibilities The Trustees (who are also the directors of the company for the purposes of company law) are responsible forpreparing the Trustees' report and the financial statements in accordance with applicable law and UnitedKingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).Company law requires the Trustees to prepare financial statements for each financial . Under company law, theTrustees must not approve the financial statements unless they are satisfied that they give a true and fair view ofthe state of affairs of the company and of its incoming resources and application of resources, including itsincome and expenditure, for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles of the Charities SORP (FRS 102); make judgments and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any materialdepartures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that thecompany will continue in business.The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explainthe company's transactions and disclose with reasonable accuracy at any time the financial position of thecompany and enable them to ensure that the financial statements comply with the Companies Act 2006. Theyare also responsible for safeguarding the assets of the company and hence for taking reasonable steps for theprevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees on_________________________________________________ and signed on their behalf by:Dr Florence OsborneChair Page 8
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED(A company limited by guarantee) INDEPENDENT EXAMINER'S REPORTFOR THE YEAR ENDED 31 MARCH 2024Independent Examiner's Report to the Trustees of Association for Glycogen Storage Disease(UK) Limited ('the company') I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 March2024.Responsibilities and Basis of ReportAs the Trustees of the company (and its directors for the purposes of company law) you are responsible for thepreparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the2006 Act and are eligible for independent examination, I report in respect of my examination of the company'saccounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examinationI have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.Independent Examiner's StatementI have completed my examination. I confirm that no matters have come to my attention in connection with theexamination giving me cause to believe:1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act;or2. the accounts do not accord with those records; or3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other thanany requirement that the accounts give a 'true and fair' view which is not a matter considered as part ofan independent examination; or4. the accounts have not been prepared in accordance with the methods and principles of the Statement ofRecommended Practice for accounting and reporting by charities [applicable to charities preparing theiraccounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ofIreland (FRS 102)].I have no concerns and have come across no other matters in connection with the examination to whichattention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities(Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company'sTrustees those matters I am required to state to them in an Independent examiner's report and for no otherpurpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than thecompany and the company's Trustees as a body, for my work or for this report.Signed: Dated: Helen BlundellLLB FCA FCIE DChACrowe U.K. LLPChartered AccountantsBlack Country HouseRounds Green RoadOldburyWest MidlandsB69 2DGPage 9
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)FOR THE YEAR ENDED 31 MARCH 2024Restrictedfunds2024Unrestrictedfunds2024Totalfunds2024Totalfunds2023Note £ £ £ £Income from:Donations and legacies4155,15062,245217,395126,955 Other trading activities56,24816,36522,61315,985 Investments6-1,1201,120451 Other income7-1,1491,149325 Total income 161,398 80,879 242,277143,716Expenditure on:Charitable activities136,47961,069197,548156,761 Total expenditure 136,479 61,069 197,548 156,761Net income/(expenditure) 24,91919,81044,729(13,045) Transfers between funds 17 373(373)-- Net movement in funds 25,292 19,437 44,729 (13,045)Reconciliation of funds: Total funds brought forward 59,19424,15983,35396,398 Total funds carried forward 84,486 43,596 128,082 83,353The Statement of Financial Activities includes all gains and losses recognised in the year.The notes on pages 12 to 30 form part of these financial statements.Page 10
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED (A company limited by guarantee)REGISTERED NUMBER: 06981121 BALANCE SHEETAS AT 31 MARCH 202420242023Note££Fixed assets Tangible assets 14 7981,014 7981,014Current assets Debtors 15 3,4786,865Cash at bank and in hand 130,66681,619 134,14488,484Creditors: amounts falling due within oneyear 16 (6,860)(6,145)Total net assets 128,082 83,353Charity funds Restricted funds 17 84,48659,194Unrestricted funds 17 43,59624,159Total funds 128,082 83,353The company was entitled to exemption from audit under section 477 of the Companies Act 2006.The members have not required the company to obtain an audit for the year in question in accordance withsection 476 of Companies Act 2006.The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect toaccounting records and preparation of financial statements.The financial statements have been prepared in accordance with the provisions applicable to entities subject tothe small companies regime.The financial statements were approved and authorised for issue by the Trustees on_________________________________________________ and signed on their behalf by:Dr Florence OsborneChair The notes on pages 12 to 30 form part of these financial statements.Page 11
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED(A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 MARCH 20241.General information1.1 Company StatusThe Association for Glycogen Storage Disease (UK) Limited is a company limited by guarantee in England, whose registered office is Black Country House, Rounds Green Road, Oldbury, West Midlands, B29 2DG. The company's registered number is 06981121. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company.2.Accounting policies 2.1Basis of preparation of financial statementsThe financial statements have been prepared in accordance with the Charities SORP (FRS 102) -Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charitiespreparing their accounts in accordance with the Financial Reporting Standard applicable in the UKand Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standardapplicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.Association for Glycogen Storage Disease (UK) Limited is a private company limited by guaranteeand meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initiallyrecognised at historical cost or transaction value unless otherwise stated in the relevant accountingpolicy. 2.2Going concernThe trustees have a reasonable expectation that the company has adequate resources to continue inoperational existence for the foreseeable future. They continue to believe the going concern basis ofaccounting appropriate in preparing the annual financial statements. 2.3IncomeAll income is recognised once the company has entitlement to the income, it is probable that theincome will be received and the amount of income receivable can be measured reliably.Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant isrecognised at the time of the donation.Income tax recoverable in relation to investment income is recognised at the time the investmentincome is receivable. 2.4ExpenditureExpenditure is recognised once there is a legal or constructive obligation to transfer economic benefitto a third party, it is probable that a transfer of economic benefits will be required in settlement andthe amount of the obligation can be measured reliably. Expenditure is classified by activity. The costsof each activity are made up of the total of direct costs and shared costs, including support costsinvolved in undertaking each activity. Direct costs attributable to a single activity are allocated directlyto that activity. Shared costs which contribute to more than one activity and support costs which arenot attributable to a single activity are apportioned between those activities on a basis consistent withthe use of resources. Central staff costs are allocated on the basis of time spent, and depreciationcharges allocated on the portion of the asset’s use.Page 12
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED(A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 MARCH 20242.Accounting policies (continued)2.4Expenditure (continued)Expenditure on charitable activities is incurred on directly undertaking the activities which further thecompany's objectives, as well as any associated support costs.Grants payable are charged in the year when the offer is made except in those cases where the offeris conditional, such grants being recognised as expenditure when the conditions attaching arefulfilled. Grants offered subject to conditions which have not been met at the year end are noted as acommitment, but not accrued as expenditure.Support costs are those costs incurred directly in support of expenditure on the objects of thecompany. Governance costs are those incurred in connection with administration of the company andcompliance with constitutional and statutory requirements. Costs of generating funds are costs incurred in attracting voluntary income, and those incurred intrading activities that raise funds.Charitable activities and Governance costs are costs incurred in the company's educationaloperations, including support costs and costs relating to the governance of the company apportionedto charitable activities. 2.5Cash flowThe company has taken advantage of the exemption in Financial Reporting Standard No.1 from therequirement to produce a cash flow statement on the grounds that it is a small charitable company. 2.6Intangible assets and amortisationIntangible assets costing £500 or more are capitalised and recognised when future economicbenefits are probable and the cost or value of the asset can be measured reliably. Intangible assets are initially recognised at cost. After recognition, under the revaluation model,intangible assets shall be carried at a revalued amount, being their fair value at the date ofrevaluation less any subsequent accumulated amortisation and subsequent impairment losses -provided that the fair value can be determined by reference to an active market.Revaluations are made with sufficient regularity to ensure that the carrying amount does not differmaterially from that which would be determined using fair value at the end of the reporting period.Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset ona straight-line basis over its expected useful life. Amortisation is provided on the following basis:Website development-20%straight linePage 13
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED(A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 MARCH 20242.Accounting policies (continued) 2.7Tangible fixed assets and depreciationA review for impairment of a fixed asset is carried out if events or changes in circumstances indicatethat the carrying value of any fixed asset may not be recoverable. Shortfalls between the carryingvalue of fixed assets and their recoverable amounts are recognised as impairments. Impairmentlosses are recognised in the Statement of Financial Activities incorporating income and expenditureaccount.Tangible fixed assets are initially recognised at cost net of accumulated depreciation and anyaccumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intendedworking condition should be included in the measurement of cost.Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual valueover their estimated useful lives, on a reducing balance basis.Depreciation is provided on the following basis:Office equipment-25% reducing balance 2.8Financial instrumentsDebtorsShort term debtors are measured at transaction price, less any impairment.CreditorsShort term trade creditors are measured at transaction price.CashCash is represented by cash in hand and deposits with financial institutions repayable without penaltyon notice of not more than 24 hours.There are no complex financial instruments. 2.9PensionsThe pension costs charges in the financial statements comprise contributions payable by the Charityduring the year for a defined contribution personal pension plan for staff. The Charity contributes 3%of eligible pay for those employees enrolled in the plan. 2.10Fund accountingGeneral funds are unrestricted funds which are available for use at the discretion of the Trustees infurtherance of the general objectives of the company and which have not been designated for otherpurposes.Restricted funds are funds which are to be used in accordance with specific restrictions imposed bydonors or which have been raised by the company for particular purposes. The costs of raising andadministering such funds are charged against the specific fund. The aim and use of each restrictedfund is set out in the notes to the financial statements.Page 14
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED(A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 MARCH 20242.Accounting policies (continued) 2.11Role of VolunteersThe charity relies on the efforts of its volunteers. The value of these volunteers is not incorporatedwithin the accounts.3.Critical accounting estimates and areas of judgmentEstimates and judgments are continually evaluated and are based on historical experience and otherfactors, including expectations of future events that are believed to be reasonable under thecircumstances.Critical accounting estimates and assumptions:Critical areas of judgment:(i) Donations of consulting by Andrew Wakelin(ii) Donations of conference guest speakers(iii) Donations of services including printing, graphic design, meeting rooms and consultant attendance of eventsIn accordance with the Charities SORP FRS 102, the charity has valued the benefit it receives fromdonations in kind of £52,271 (2023: £59,396). This is based on the open market value of benefitsreceived.Page 15
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED(A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 MARCH 20244.Income from donations and legaciesRestrictedfunds2024Unrestrictedfunds2024Totalfunds2024Totalfunds2023 £ £ £ £ Donations10,00011,55621,5566,797 Legacies-5,0005,000- Grants122,85011,700134,55059,500 Donations in kind22,30029,97152,27159,396 Gift aid-4,0184,0181,262 Total 2024155,150 62,245 217,395126,955Total 202363,87963,076126,9555.Income from other trading activitiesIncome from fundraising eventsRestrictedfunds2024Unrestrictedfunds2024Totalfunds2024Totalfunds2023 £ £ £ £Fundraising events 6,248 15,490 21,73815,145 Total 20234,594 10,55115,145Page 16
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED(A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 MARCH 20245.Income from other trading activities (continued)Income from non charitable trading activitiesRestrictedfunds2024Unrestrictedfunds2024Totalfunds2024Totalfunds2023 £ £ £ £Subscriptions-875875800 Book Sales---40 Total 2024- 875 875840Total 2023208208406.Investment incomeUnrestrictedfunds2024Totalfunds2024Totalfunds2023 £ £ £Investment income 1,120 1,120 451 Total 2023451 451Page 17
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED(A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 MARCH 20247.Other incoming resourcesUnrestrictedfunds2024Totalfunds2024Totalfunds2023 £ £ £Other income 1,149 1,149325 Total 20233253258.Analysis of grantsGrants2024Grants toInstitution2024Totalfunds2024Totalfunds2023 £ £ £ £Grants 420 12,308 12,728 273 Total 2023273 - 273In 2024 1 grant was given to institutions (2023: 0) and 1 to individuals (2023: 2).9.Analysis of expenditure by activitiesActivitiesundertakendirectly2024Grantfunding ofactivities2024Supportcosts2024Totalfunds2024Totalfunds2023 £ £ £ £ £Charitable activities 152,079 12,728 32,741 197,548 156,761 Total 2023123,205273 33,283 156,761Page 18
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED(A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 MARCH 20249.Analysis of expenditure by activities (continued)Analysis of direct costsCharitableactivities2024Totalfunds2024Totalfunds2023 £ £ £Staff costs24,53324,53322,408 Conference expenses27,44927,449- Walking Course9,8489,8486,709 Consultancy52,27152,27159,396 Travel and accommodation expenses9289283,095 Freelancer consulting costs37,05037,05029,434 Patient and Family meetings--2,163 Total 2024152,079 152,079123,205Total 2023123,205123,205Page 19
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED(A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 MARCH 20249.Analysis of expenditure by activities (continued)Analysis of support costsCharitableactivities2024Totalfunds2024Totalfunds2023 £ £ £Rent1,8421,842312 Office Costs308308396 Online services962962968 Website and computer costs10,59410,5948,628 Sundry expenses425425- Subscriptions599599138 Insurance706706717 Printing, post and stationery3,1893,1891,578 Fundraising101101(43) Depreciation - office equipment216216288 Amortisation - website development--4,789 Staff training--787 Accountancy & payroll9,6029,6029,827 Independent examiners fee2,9632,9632,773 Staff costs1,2341,2342,125 Total 202432,741 32,741 33,283Total 202333,283 33,283During the year ended 31 March 2024, the company incurred the following Governance costs:£12,590 (2023 - £12,600) included in the table above.10.Independent examiner's remunerationThe independent examiner's remuneration amounts to an independent examiner fee of £2,963 (2023 -£2,773).Page 20
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED(A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 MARCH 202411.Staff costs20242023££Wages and salaries24,00024,000Social security costs1,234-Pension costs53353325,767 24,533The average number of persons employed by the company during the year was as follows:20242023No.No.1 1The key management personnel of the charity are the Trustees and Chief Executive. Total employeebenefits of key management personnel of the charity were £24,533 (2023: £24,533).No employee received remuneration amounting to more than £60,000 in either year.12.Trustees' remuneration and expensesDuring the year, no Trustees received any remuneration or other benefits (2023 - £NIL).During the year ended 31 March 2024, expenses totalling £NIL were reimbursed or paid directly to Trustee (2023 - £938 to 1 Trustees) to cover expenses incurred relating to postage and a walking course.Page 21
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED(A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 MARCH 202413.Intangible assetsWebsitedevelopment£CostAt 1 April 202323,938At 31 March 202423,938AmortisationAt 1 April 202323,938At 31 March 202423,938Net book valueAt 31 March 2024 -At 31 March 2023-Page 22
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED(A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 MARCH 202414.Tangible fixed assetsOfficeequipment£Cost or valuationAt 1 April 20237,538At 31 March 20247,538DepreciationAt 1 April 20236,524Charge for the year216At 31 March 20246,740Net book valueAt 31 March 2024 798At 31 March 20231,014Page 23
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED(A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 MARCH 202415.Debtors20242023££Due within one yearTrade debtors-5,674Other debtors2,51250Prepayments and accrued income9661,1413,4786,86516.Creditors: Amounts falling due within one year20242023££Other creditors1,9332,474Accruals and deferred income4,9273,6716,8606,145Page 24
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED(A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 MARCH 202417.Statement of fundsStatement of funds - current yearBalance at 1April 2023£Income£Expenditure£Transfersin/out£Balance at31 March2024£Unrestricted fundsGeneral Funds - all funds 24,159 80,879 (61,069) (373) 43,596 Restricted fundsType 2 Pompe7,294-(3,353)-3,941 Type 5 Mcardle8,52828,658(32,331)-4,855 Type 3 Cori3,309-(2,934)-375 Type 1 Van Gierke17,532-(4,757)-12,775 Type 6 Hers Fund602---602 Conferences21,3311,190(22,631)110- Type 0165---165 Better treatments and serviceaccess-15,733(15,996)263- Help with living well-23,833(23,826)-7 Support across the community43318,134(18,343)-224 PHD Project-73,850(12,308)-61,542 59,194161,398(136,479)37384,486Total of funds83,353 242,277 (197,548) - 128,082Page 25
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED(A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 MARCH 202417.Statement of funds (continued)Statement of funds - prior yearBalance at1 April 2022£Income£Expenditure£Transfersin/out£Balance at31 March2023£Unrestricted fundsGeneral Funds - all funds 23,462 75,223 (73,087) (1,439) 24,159 Restricted fundsType 2 Pompe11,876-(4,582)-7,294 Type 5 Mcardle10,85815,376(17,706)-8,528 Type 3 Cori3,920-(611)-3,309 Type 1 Van Gierke18,387-(855)-17,532 Type 6 Hers Fund602---602 Conferences23,3052,500(4,474)-21,331 Medical Advisory Board2,065-(2,065)-- Specialist Care Advisor1,067-(1,067)-- Type 0165---165 Patient Education andEmpowerment6914,617(5,308)-- Better treatments and serviceaccess-13,833(13,833)-- Help with living well-16,833(18,272)1,439- Support across the community-15,334(14,901)-433 72,93668,493(83,674)1,43959,194Total of funds96,398143,716(156,761) - 83,353Page 26
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED(A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 MARCH 202418.Summary of fundsSummary of funds - current yearBalance at 1April 2023£ Income£ Expenditure£ Transfersin/out£ Balance at31 March2024£ General funds24,15980,879(61,069)(373)43,596 Restricted funds59,194161,398(136,479)37384,486 83,353 242,277 (197,548) - 128,082Summary of funds - prior yearBalance at1 April 2022£ Income£ Expenditure£ Transfersin/out£ Balance at31 March2023£ General funds23,46275,223(73,087)(1,439)24,159 Restricted funds72,93668,493(83,674)1,43959,194 96,398143,716(156,761) - 83,353Page 27
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED(A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 MARCH 202418.Summary of funds (continued)Restricted FundsType 2 Pompe's Supporting GSD Type 2, Pompe.Type 5 McArdlesSupporting GSD Type 5, McArdle.Type 3 CoriSupporting GSD Type 3, Cori.Type 1 Von GierkeSupporting GSD Type 1, Von Gierke.Type 6 Hers FundSupporting GSD Type 6, Hers.Hardship FundSupporting patients and families suffering hardship.ConferencesSupporting AGSD-UK Annual conference.Medical Advisory BoardSupporting meetings of AGSD-UK Medical Advisors.Specialist Care AdvisorSupporting the provision of a Pompe patient support worker.Type 0 Supporting GSD Type 0.Patient Education and EmpowermentSupporting patients and families by providing family days. Better treatments and service access Supporting activities to promote better treatments and service access through research engagement and work with professionals and partners. Page 28
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED(A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 MARCH 202418.Summary of funds (continued)Help with living wellSupporting activities to enable people affected to live well with GSDs, including information, educational programmes and therapeutic activities.Support across the community Supporting activities to ensure support is available across the GSD community.PHD Projects Grant contribution to PhD studentship 1Eating, physical activity and mental health.Grant contribution to PhD studentship 2Investigating digital biomarkers to support safe physical activity.Transfers between fundsA transfer of £263 was made during the year from the general fund to the Better treatments and serviceaccess fund and of £110 to the Conferences fund to cover the deficit at the year end.19.Analysis of net assets between fundsAnalysis of net assets between funds - current periodRestrictedfunds2024Unrestrictedfunds2024Totalfunds2024 £ £ £Tangible fixed assets-798798Current assets86,02948,115134,144Creditors due within one year(1,543)(5,317)(6,860)Total 84,486 43,596 128,082Page 29
ASSOCIATION FOR GLYCOGEN STORAGE DISEASE (UK) LIMITED(A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 MARCH 202419.Analysis of net assets between funds (continued)Analysis of net assets between funds - prior periodRestrictedfunds2023Unrestrictedfunds2023Totalfunds2023 £ £ £Tangible fixed assets-1,0141,014Current assets60,95527,52988,484Creditors due within one year(1,761)(4,384)(6,145)Total 59,194 24,159 83,35320.Pension commitmentsThe Charity operates a defined contribution pension scheme. The assets of the scheme are heldseparately from those of the Charity in independently administered funds. The pension cost shown in note11 represents the contributions payable by the Charity to these funds. Included in other creditors is abalance of £104 (2023 - £107) which relates to the pension fund. 21.Related party transactionsThere were no related party transactions in the year ended 31 March 2024.Page 30