Annual Review & Accounts Year Ended 31 March 2015

Annual Review & Financial Statements Year Ended 31 March 2015

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

Contents Foreword

03

Who we are

05

Reaching our goals

06

Supporting people

12

Finding the cause & cure

14

Raising awareness

16

How we fund our work

18

Our people & network

20

General information

22

Report of the Trustees

23

Statement of Trustees’ responsibilities

26

Independent Examiner’s report

27

Statement of Financial Activities

29

Balance Sheet

30

Accounting policies

31

Notes to the financial statements

32

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

Foreword 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.

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,

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

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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 fulltime 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

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

Who we are 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.

The Trust has seven core values, we aspire to be: ●● led by those we serve ●● collaborative ●● supportive ●● open ●● respectful ●● committed ●● informative

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

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

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

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Reaching our goals

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:

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.

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

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Develop a Volunteer Network

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.

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

...which have resulted in the appointment of...

To date, these volunteers have contributed around...

75 enquiries

19 NEW

volunteers

160 hours of support to the Trust through a range of activities.

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

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Educate healthcare professionals In 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 copies

of our GP and physiotherapist guides have been downloaded from our website.

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

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

: l3 oa G

Increase commitment to research

ÂŁ150,000

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

across the globe.

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

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Increase support for carers In June 2014, we published our first guide for carers.

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

Family & Friends Day

10

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

2,000

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

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Develop a model for MSA Centres This has proved to be a

complex task with key factors being

funding

and the differences in the NHS commissioning processes throughout 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.

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

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Supporting people 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.

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 12

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.

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

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.

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

1,000

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.

...and our nurses delivered...

37

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

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

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

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

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

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

Dr Lucia Schottlaender

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.

Dr Aoife Kiely

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

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

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Raising awareness 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.

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.

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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.

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

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

March 2014

April 2015

2,159

3,373

661

1,003

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

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How we fund our work Without 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.

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

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.

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.

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.

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

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.

●● 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.

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

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Our people & network Patrons

MSA Nurse Specialists

Sir Roger Bannister CBE FRCP Professor CJ Mathias DPhil DSc FRCP

Jill Lyons (West of England and Wales)

Trustees Michael 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

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Samantha Pavey (East of England) Katie Rigg (North of England, Scotland and Ireland)

Scientific Advisory Panel Dr 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

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

Support Groups

that took place from 1 April 2014 to 31 March 2015

Inverurie

Fife Lanarkshire

Northumberland Enniskillen

Belfast

East Yorkshire South Yorkshire Manchester Lincolnshire Derbyshire

Southport Warrington

Dublin

East Midlands

Shropshire

Limerick

Norfolk/Suffolk Cambridge West Midlands Essex

Gloucestershire

Cork

Oxfordshire Wiltshire Surrey

Devon Cornwall

Dorset

London Kent

West Sussex

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

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General information Company status

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.

Trustees

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

Company Secretary

Nicola Roberts

Company number

07302036 (England)

Registered charity number

1137652 (England & Wales) and SC044535 (Scotland)

Registered address

Southbank House Black Prince Road London SE1 7SJ

Auditors Bankers

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Dixon Wilson 22 Chancery Lane London WC2A 1LS CAF Bank Limited 25 Kings Hill Avenue West Malling Kent ME19 4JQ

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

Report of the Trustees 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.

Our Vision

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

Our Mission

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

Our 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.

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

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.

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

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Recruitment and appointment of the Trustee Board

The 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)

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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 training

The Trust is committed to providing ongoing training for all of its Trustees to support them in their role.

Risk management

The 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 review

The 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-

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

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 policy

During 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 benefit

The 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 Examiners

Each 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.

Declaration I 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 ...............…….................2015 28 October

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

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Statement of Trustees’ responsibilities Year ended 31 March 2015

Trustees’ responsibilities in relation to the financial statements The 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.

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

Independent Examiner’s report Year ended 31 March 2015

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

Respective responsibilities of trustees and examiner The 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 report My 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.

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

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Independent Examiner’s report Year ended 31 March 2015

Independent examiner’s statement In connection with my examination, no matter has come to my attention: (1) which gives me reasonable cause to believe that in any material respect the requirements: ●● to keep accounting records in accordance with section 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

...............…………………..2015 28 October

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

Statement of Financial Activities (including an income and expenditure account)

Year ended 31 March 2015

Unrestricted income Note fund £

Restricted income Total funds Total funds fund 2015 2014 £ £ £

Incoming resources

Incoming resources from generated funds Voluntary income

294,232

153,398

447,630

425,870

Activities for generating funds

180,865

10,413

191,278

219,533

3,259

-

3,259

6,233

2

478,356

163,811

642,167

651,636

Cost of generating funds

4

234,156

11,566

245,722

166,155

Charitable activities

5

325,881

202,489

528,370

523,603

Governance costs

6

76,371

-

76,371

69,651

18

636,408

214,055

850,463

759,409

3

(158,052)

(50,244)

(208,296)

(107,773)

9

11,404

-

11,404

9,077

(146,648)

(50,244)

(196,892)

(98,696)

444,118

117,621

561,739

660,435

297,470

67,377

364,847

561,739

Investment income Total incoming resources Resources expended

Total resources expended Net outgoing resources Other recognised gains & loses Unrealised gain on revaluation of investments to market value Net movement in funds Balance at 31 March 2014 Balance at 31 March 2015

18

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

29

Balance Sheet At 31 March 2015

Unrestricted income Note funds £

Restricted income funds £

Total funds 2015 £

Total funds 2014 £

Fixed assets Tangible assets

8

4,932

-

4,932

3,175

Investments at market value

9

111,988

-

111,988

100,583

116,920

-

116,920

103,758

Current assets Debtors

10

71,440

-

71,440

22,534

Stocks

11

1,756

-

1,756

1,194

Cash at bank

12

491,841

67,377

559,218

783,645

565,037

67,377

632,414

807,373

(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

(152,341)

-

(152,341)

(272,516)

297,470

67,377

364,847

561,739

275,483

-

275,483

433,535

10,583

21,987

-

21,987

-

67,377

67,377

117,621

297,470

67,377

364,847

561,739

Creditors: amounts falling due within one year

Creditors: amounts falling due after more than one year

13

14

Net assets Funds Unrestricted income reserve Unrestricted income revaluation reserve Restricted income fund 18

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 FRCP Chair of Trustees 30

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

Accounting policies Year ended 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 accounting The financial statements have been prepared under the historical cost convention modified by the inclusion of fixed asset investments at market value.

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

Expenditure Grants 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 assets Tangible fixed assets are stated at cost less depreciation.

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

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

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

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

31

Notes to the financial statements Year ended 31 March 2015 1. Status The company is limited by guarantee and has no share capital Unrestricted income fund £

Restricted income fund £

Total 2015 £

Total 2014 £

171,219

10,413

181,632

207,442

9,646

-

9,646

12,091

180,865

10,413

191,278

219,533

3,259

-

3,259

6,233

Donations under the Gift Aid scheme

40,556

-

40,556

33,148

Legacies & Memoriam donations

72,805

-

72,805

129,990

180,871

153,398

334,269

262,732

294,232

153,398

447,630

425,870

478,356

163,811

642,167

651,636

2. Incoming resources

Income from activities for generating funds Event income Merchandise

Investment income Interest receivable from UK deposit account Voluntary income

Other donations

Total incoming resources

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: Auditor’s remuneration Depreciation Operating lease costs

32

2015 £

2014 £

-

500

1,101

182

43,384

25,851

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

Notes to the financial statements Year ended 31 March 2015 4. Cost of generating funds

2015 £

2014 £

Merchandise

5,062

6,384

10,410

9,778

150,552

112,709

Rent

18,127

10,340

Office costs

15,238

13,234

137

114

34,653

13,573

234,156

166,155

Events & catering Salaries

Sundry PR & Marketing

Unrestricted income fund £

Restricted income fund £

Total 2015 £

Total 2014 £

Nurses’ salaries & expenses

53,929

33,889

87,818

99,233

Research

84,424

100,679

185,103

252,166

187,528

67,921

255,449

172,204

325,881

202,489

528,370

523,603

2015 £

2014 £

385

3,247

-

500

Professional fees

3,007

6,248

Management fees

20,809

20,147

Salaries

31,435

23,916

Pensions

2,068

1,092

Trustees’ meetings

3,271

2,430

Rent

5,861

3,878

Office costs

9,535

8,193

76,371

69,651

5. Charitable activities

Info & patient support

6. Governance costs Accountancy fees Audit fees

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

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

33

Notes to the financial statements Year ended 31 March 2015 7. Staff costs

2015

2014

9

7

£

£

306,434

216,618

Employer’s NIC

19,552

22,592

Pensions

38,014

13,940

364,000

253,150

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

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.

Office equipment £

Patient aids £

Total £

At 1 April 2014

9,960

49,027

58,987

Additions

2,858

-

2,858

12,818

49,027

61,845

At 1 April 2014

6,785

49,027

55,812

Charge for the year

1,101

-

1,101

At 31 March 2015

7,886

49,027

56,913

At 31 March 2015

4,932

-

4,932

At 31 March 2014

3,175

-

3,175

8. Tangible fixed assets Cost or valuation

At 31 March 2015 Depreciation

Net book value

34

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

Notes to the financial statements Year ended 31 March 2015 9. Investments

2015 £

2014 £

100,583

91,506

11,405

9,077

111,988

100,583

Market value At 1 April 2014 Net gain on revaluation At 31 March 2015

Cost Market value 31 March 31 March 2015 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

2015 £

2014 £

Trade debtors

45,738

2,843

Other debtors

25,702

19,691

-

-

71,440

22,534

11. Stock

2015 £

2014 £

Finished goods: merchandise

1,756

1,194

10. Debtors

Accrued income

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

35

Notes to the financial statements Year ended 31 March 2015

12. Cash at bank

Unrestricted income funds £

Restricted income Total funds Total funds funds 2015 2014 £ £ £

Cash committed for research grant funding

350,878

-

350,878

297,554

Other cash

140,963

67,377

208,340

486,091

491,841

67,377

559,218

783,645

2015 £

2014 £

Research grants

198,535

60,458

Other creditors

33,611

16,418

232,146

76,876

13. Creditors: amounts falling due within one year

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.

36

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

Notes to the financial statements Year ended 31 March 2015 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.

18. Restricted funds Brought forward funds Income arising in the year Expenses paid during the year Carried forward funds

Carer’s Appeal

Research

11,566

96,408

7,803

-

68,421

(11,566) (100,679) -

64,150

Scottish Alternative Nurse Therapy

Giger

Regional Core

Total

1,844

-

-

117,621

26,086

1,383

26,552

41,369

163,811

(33,889)

-

(26,552)

-

3,227

-

(41,369) (214,055) -

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

67,377

37

Phone

Email

Website

0333 323 4591

support@msatrust.org.uk

msatrust.org.uk

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Our Vision: a world free of MSA Our 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.

msatrust.org.uk/linkedin

Multiple System Atrophy Trust 51 St Olav’s Court City Business Centre Lower Road London SE16 2XB

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