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2021-03-31-accounts

Charity Registration No. 1002973 Company Registration No. 2609219 (England and Wales)

Bliss – The National Charity for the Newborn (A Company Limited by Guarantee and having no Share Capital) Trustees’ Report and Accounts For the Year Ended 31 March 2021

Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Reference and Administrative Information

Company Number 2609219 (England and Wales)
Charity Number 1002973 (England and Wales)
SC040878 (Scotland)
Legal Status The organisation is a charitable company limited by guarantee and as
such is governed by its Memorandum and Articles of Association.
Board of Trustees Jason Parker (Chair)
Verity Baldry (Vice-Chair)
Calvin Sellers (Treasurer)
Alexander Burrows (appointed 9 December 2020)
John Calder
Caroline Farrar
Neil James (appointed 9 December 2020)
Sarah Mullen (resigned 3 June 2020)
Amy Overend
Fauzia Paize
Tania Seale
Mala Shah-Coulon
Charlotte Witteridge (appointed 9 December 2020)
Chief Executive Caroline Lee-Davey
Company Secretary Kay D’Cruz
Registered Office 4thFloor, Maya House
134-138 Borough High St
London
SE1 1LB
Auditor Sayer Vincent LLP
Invicta House
108-114 Golden Lane
London
EC1Y 0TL
Bankers Lloyds Bank PLC
3 St George’s Road
London
SW19 4DR
Solicitors Mishcon de Reya LLP
Africa House
70 Kingsway
London
WC2B 6AH

Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2021

Contents

Page
Trustees’ Report 1
Statement of Trustees’ Responsibilities 19
Independent Auditor’s Report 20
Group Consolidated Statement of Financial Activities 24
Balance Sheet 25
Statement of Cash Flows 26
Notes to the Accounts 27

Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2021

Trustees’ Report for the Year Ended 31 March 2021

Introduction from the Chair and Chief Executive

2020-21 has been a year like no other, in which every aspect of life has been affected in some way by the Covid-19 pandemic. Neonatal care, and the work of Bliss, have been no exception.

Most critically, neonatal services have been significantly disrupted through the introduction of stringent access restrictions for parents from the start of the first lockdown in March 2020 onwards. This was a dramatic change from the typical 24/7 access that parents have to their babies on units, which usually enables high levels of hands-on involvement for parents in their babies’ care and decision-making. This has had a devastating effect on parents, who have been hugely distressed by not being able to be at their baby’s cotside; and will also have had a significant effect on babies, denied the comfort and support of their parents throughout their first days and weeks of life.

It has therefore been a significant focus of the charity all year to highlight the importance of facilitating parent access and involvement in their babies’ care, alongside providing intensive support to parents through this challenging time. Bliss played a key role in pushing for the introduction of new NHS England guidance on parent access through our #ParentsArentVisitors campaign, and we also built our relationships with professional bodies to provide clear and evidence-based guidance and support directly to neonatal health professionals, who have also found this challenging to manage.

We were able to pivot our services to accommodate working in new and different ways, including the rapid introduction of a new virtual support service delivered by our Bliss Champion volunteers, who were no longer allowed onto units to provide face-to-face support; as well as the development of a comprehensive suite of information on Covid-19 and premature and sick babies, to meet the increased demand we faced from families for clear and accessible information relevant to them.

Internally, Bliss’ staff have been working fully remotely all year, necessitating a significant shift in ways of working both as a team and with our external stakeholders, to ensure the continued smooth operation of our vital work. We are so proud of the way our staff and volunteers have responded to this, pulling together to ensure we put in place new ways of communicating to ensure the focus on our mission was not lost; as well as implementing a series of infrastructure projects to facilitate more effective working, including the transition to a new database and migrating all of our IT to a new cloud-based system.

Our Fundraising Team has also faced some significant challenges, with lockdown and social distancing restrictions severely limiting our ability to raise income through community and mass participation events, but the team has responded to this well by developing new virtual events and challenges instead. We have also been hugely grateful for the support we have received from many of our corporate, trust and statutory partners, who were quick to step in and offer their support to ensure our work could continue, particularly in the early days of the pandemic. Bliss also received a significant major gift this year, and we are humbled by and grateful to the donor who was able to make this gift to support our work at this exceptionally challenging time. More broadly, we maintained our efforts this year to strengthen our financial resilience by continuing to fully right-size our business model. This focus, together with ongoing careful cost control, meant we were able to reduce total expenditure significantly and achieve a significant positive surplus.

It has been an extraordinary year in so many ways, but through it all we have continued to be inspired by the babies born premature or sick that we are here to serve, to do everything we can to give them the best possible chance of survival and quality of life.

Caroline Lee-Davey Chief Executive

Jason Parker Chair of Trustees

Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2021

The Directors of the Charity (who are the Trustees of the Charity for charity law purposes) present their report and the audited financial statements for the year ended 31 March 2021.

The Trustees confirm that the annual report and financial statements have been prepared in accordance with the Companies Act 2006, the Charities Act 2011 and the requirements of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) .

Structure, governance and management

Governing document

Bliss - the National Charity for the Newborn is a company limited by guarantee, incorporated on 9th May 1991 and governed by its Memorandum and Articles of Association, last updated on 26th January 2011. It is also registered as a charity with the Charity Commission, date of registration 20[th] May 1991.

Members of the charity are limited to the serving members of the volunteer Board of Trustees at any given time, who are limited to a guarantee of £1 each in the event of the charity being wound up.

Bliss has two wholly owned subsidiaries: Bliss Sales Limited, the principal activity of which is trading operations that enhance the aims and objectives of Bliss, with available profits gift aided back to Bliss; and Bliss Scotland (Charity) Limited, which is a company limited by guarantee in Scotland and a registered charity in Scotland, the principal activity of which is to carry out Bliss’ aims and activities in Scotland.

Appointment of Trustees

As set out in the Articles of Association, the Chair of the Board of Trustees is elected by the members of the Board. When Trustee vacancies arise on the Board these are openly advertised, and the appointment of new Trustees is made following an application process including interview by members of the Nominations Committee, and approval by the whole Board. When considering appointments, the Nominations Committee consider the diversity of the current board of Trustees in terms of skills and experience, geographic representation, age and ethnic background; and we continually aim to increase the board’s diversity.

Trustee induction, training and evaluation

New Trustees have a comprehensive induction coordinated by senior staff and fellow Trustees; this includes, for example, time spent with staff to find out about the work of the Charity, a visit to a neonatal unit (deferred for Trustees joining the charity this year), and buddying with an experienced Trustee. All Trustees are offered ongoing training as required, as well as regular opportunities to engage with the Charity’s beneficiaries, stakeholders and supporters.

Each Trustee has an annual review conducted by the Chair. The Vice-Chair undertakes a regular review of the Chair, incorporating input from all Trustees and the Senior Management Team (SMT). Once every three years, there is an externally facilitated board evaluation, most recently held in 2019-20. This year, our annual Trustee away day spent time reviewing individual and collective strengths and ways of working.

Organisation

The volunteer Board of Trustees is responsible for the overall governance and direction of the charity. The Senior Management Team meets regularly and reports to the Board through the Chief Executive.

During the year the Board comprised 13 Trustees overall, including a Chair, Vice Chair, and Treasurer. Trustees are all members of the Board and at least one sub-committee. The Board met six times during the year; our two primary sub-committees are the Finance, Risk & Fundraising Committee, which met six times during the year; and the Impact & Delivery Committee, which met once. The Board also held a series of longer ‘away day’ style

Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2021

sessions to inform future planning. Due to Covid-19, all of these meetings were conducted by videoconference. The Chief Executive and SMT attend meetings of the Board and its sub-committees. Bliss Scotland and Bliss Sales Ltd have separate Boards; the Directors of Bliss Sales are also Trustees of Bliss, and the Trustees of Bliss Scotland during the year comprised three Trustees who are also Trustees of Bliss, and one independent Trustee. Trustee attendance at Board meetings was 90 per cent this year (2020: 80 per cent).

All Trustees are on fixed terms of office of four years and typically serve up to two terms. The following served as Trustees during the period 1 April 2020 to 31 March 2021:

Verity Baldry (Vice Chair) Alexander Burrows (appointed 9 December 2020) John Calder Caroline Farrar Neil James (appointed 9 December 2020) Sarah Mullen (resigned 3 June 2020) Amy Overend Fauzia Paize Jason Parker (Chair) Tania Seale Calvin Sellers (Treasurer) Mala Shah-Coulon Charlotte Witteridge (appointed 9 December 2020)

Related parties and co-operation with other organisations

None of the Trustees has any beneficial interest in the company. As members, they each have a potential individual liability of £1. There are no Trustees’ interests to be disclosed.

See notes 9 and 20 to the accounts for further information.

Charity Governance Code

Bliss continues to apply the Charity Governance Code. A full external governance review was undertaken in 2019-20, which included a review against each element of the Code’s principles. A programme of actions followed that review, and the Board discussed progress against these at its away day in November 2020.

Risk management

The Trustees review the major risks facing the Charity on a regular basis, monitoring reserves and reviewing key financial systems to ensure sufficient resources are available to meet our obligations in the event of adverse conditions. The Trustees have also examined other operational and business risks faced by the Charity and confirm that they have established systems to manage significant risks.

Key risks to the Charity include:

Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2021

The systems of control and activities to minimise risk include:

The Trustees ensure that the management of risk is ongoing and embedded in management and operational procedures.

Public benefit

Section 17 of the Charities Act 2011 contains a legal requirement that all charities’ aims are for public benefit. The Charity Commission in its “Charities and Public Benefit” guidance states that there are two key principles to be met in order to show that an organisation’s aims are for public benefit:

  1. There must be an identifiable benefit

  2. Benefit must be to the public or a section of the public.

Regular evaluation of Bliss’ work demonstrates the clear and positive benefit that we have on tens of thousands of babies, their families and the healthcare professionals who care for them. This is particularly through:

We aim to regularly evaluate the impact and effectiveness of our work through a process of measurement and evaluation led by SMT and managers, which is reviewed by Trustees at meetings of the Impact and Delivery Committee.

Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2021

About Bliss

Bliss was founded in 1979 by a group of concerned parents who discovered that no hospital had all the equipment nor the trained staff it needed to safely care for premature and sick babies. Determined to do something, these volunteers formed a charity to give vulnerable babies the care they deserve. Over 40 years later, Bliss has grown into the UK’s leading charity for babies born premature or sick.

Our vision:

That every baby born premature or sick in the UK has the best chance of survival and quality of life.

Our mission:

Bliss champions the right for every baby born premature or sick to receive the best care. We achieve this by empowering families, influencing policy and practice, and enabling life-changing research.

Our values:

Trusted

We are entrusted to give voice to all babies born premature or sick. We believe that trust is earned and our actions must always be based on what is best for babies.

Supportive

We believe that developing supportive relationships is at the heart of what we do, and only by supporting others are we able to achieve our goals.

Ambitious

We always go the extra mile to deliver excellence and seek improvement in all we do.

Our strategy

This has been the second year of our 2019-2022 strategy, for which we undertook extensive consultation and information-gathering across staff, trustees, external stakeholders, and our beneficiaries during summer 2018.

Our strategic objectives are explicitly framed in relation to outcomes for babies. As the start of the Covid-19 pandemic coincided with the start of this financial year, our operational planning for the year was significantly affected, with new areas of work developed at pace to address new challenges in neonatal care raised by the pandemic. However, it is important to note that this affected how we have delivered our strategic objectives over this year, but not what those objectives were nor what we sought to achieve overall.

We have continued to strike a balance between the work that we are doing to improve outcomes for the babies born premature or sick and being cared for today; and the work to improve outcomes for babies in the future. We believe this is the right approach both to deliver tangible benefits and improvements to babies in neonatal care now, and to the quality of neonatal care over the longer-term.

Over the course of this strategy period we will continue to ensure that Bliss is the right size and shape to reflect our ability to raise income in the future, given the uncertain political and economic climate, and that our activities are sustainable for the longer term. We will also continue to focus on our financial resilience for the long-term.

Our three-year objectives and priority activities for this strategy period are as follows:

1. For more babies born premature or sick to survive:

Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2021

2. For babies born premature or sick to have well-supported parents playing an active role in their decisionmaking and care:

3. For babies born premature or sick to be cared for in neonatal environments that best support their development:

4. For babies born premature or sick to benefit from neonatal research that can lead to practical improvements in their care:

5. For babies born premature or sick to receive high-quality care within a neonatal health system which is appropriately funded, structured and staffed:

Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2021

Review of 2020/21 activities

1. For more babies born premature or sick to survive

While the rate of neonatal mortality has decreased significantly in the 40 years since Bliss was founded, there is still work to do to bring the rate down further, to the level of countries with the lowest rates in the world.

This year we have continued to be the voice of babies needing neonatal care at the national level, inputting into and influencing policy to drive improvements in care and reduce the infant mortality rate. This has included continuing to play an active role on the Neonatal Implementation Board, which is responsible for overseeing a five-year programme of neonatal transformation in England; and influencing the recommendations of the forthcoming GIRFT [Getting It Right First Time – NHS quality improvement programme] report. We also continue to be represented on the NHS England Neonatal Critical Care Clinical Reference Group and on the British Association of Perinatal Medicine (BAPM) Executive Committee, among others.

We have continued to work closely with our partners in the Pregnancy & Baby Charities Network (PBCN), and in particular towards the end of the year supported the development of specific Scottish and Welsh manifestos for devolved nation elections, both of which include as one of the top four shared priorities: “Give all sick and premature babies the best chance of survival”. Bliss has led on the campaigning on behalf of the Pregnancy & Baby Charities Network to encourage Scottish MSP candidates to pledge to support the PBCN manifesto.

2. For babies born premature or sick to have well-supported parents playing an active role in their decision-making and care

Evidence is very clear that it is best for babies in neonatal care that they have their parents playing a hands-on role in their care from the moment they are born until they are discharged home. Parental involvement is essential both to support improved outcomes for babies born premature or sick, and also for attachment and bonding as a family.

However, the arrival of the Covid-19 pandemic prompted the introduction of tight restrictions on parent access to neonatal units. While parents would typically expect to be able to access their baby 24/7, policies changed such that in many cases parents were only able to spend a few hours a day at their baby’s cotside; or only one parent was able to be on the unit; or parents were only able to attend one at a time, meaning they never had the opportunity to be with their baby together. While these restrictions were at their tightest during the first few months of the pandemic and first lockdown in spring / early summer 2020, they have persisted in one form or another in most units all year, and have been the cause of significant distress and anguish to parents and families.

In this context, supporting parents to play an active role in their babies’ care and decision-making – which has always been central to Bliss’ work – became more important this year, with parents needing us more than ever. This was reflected in the increased demand we saw for our information throughout the year, with unique views of our core (non-Covid) information up by 16% compared to the previous year, and particularly significant increases in people accessing our information about mental health (36% up) and about going home from the neonatal unit (31% up), compared to the previous year.

Other information developments and highlights included:

Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2021

The access restrictions in place on neonatal units also meant that parents needed emotional support more than ever; however, Bliss’ primary channel for supporting parents in this way – through face-to-face support on neonatal units from our Bliss Champion volunteers – could not be delivered as volunteers were also not able to attend neonatal units in person, in the context of broader access and health and safety restrictions.

We therefore rapidly developed and/or expanded a series of alternative channels through which parents could access this much-needed emotional support:

In addition to supporting parents directly throughout the pandemic, we lead on significant policy and campaigning activity to advocate for babies born premature or sick and ensure that their parents were able to play an active and hands-on role in their neonatal care. Highlights of this activity included:

Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2021

3. For babies born premature or sick to be cared for in neonatal environments that best support their development

In order to deliver the best outcomes for babies, it is important that neonatal units follow best practice in both parental involvement and developmental care. Bliss’ flagship Baby Charter audit and accreditation scheme provides a comprehensive framework for units to assess and improve their practice against seven core principles, and is a nationally-recognised means of delivering tangible improvements in care.

As with many other areas of our work, our Bliss Baby Charter activity was affected by the pandemic, particularly in the first half of the year, as neonatal units were put on crisis footing and unable to undertake additional quality improvement work of this kind; nor were Bliss staff able to visit units in person to carry out assessments of their progress.

During this period, however, we were able to complete significant review and development work to ensure that the Baby Charter is fit for the future, comprising:

In the latter half of the year, more neonatal units were able to pick up their Bliss Baby Charter activity again, and although we have not been able to carry out any gold accreditation assessments this year due to access restrictions on units, this year we have seen progress highlights as follows:

Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2021

In addition to our work on the Baby Charter, this year we have also continued to support health professionals in a number of different ways, including:

4. For babies born premature or sick to benefit from neonatal research that can lead to practical improvements in their care

This year, the Oxford University research project funded by Bliss – looking at the measurement and management of pain in premature babies – continued, and completed its first phase despite some challenges faced due to the Covid-19 pandemic. This vital study is already shedding new light on the important but underresearched area of neonatal pain, including its first publication (accepted by Nature Communications and published in April 2021) by Baxter et al., titled "Functional and diffusion MRI reveal the neurophysiological basis of neonates’ noxious-stimulus evoked brain activity".

We are delighted that this important project has been able to continue despite some of the challenges posed by the pandemic over the last year; and in particular look forward to continuing to work with the research team over the coming year on the next phase of the project, a randomised controlled trial looking at the impact of parental touch on the management of pain in babies, which started in June 2021.

In addition, Bliss continues to support a number of other research projects with parental involvement, ensuring that parents’ views and experiences are at the heart of neonatal research to ensure they best reflect and meet the needs of current and future generations of babies. These include the Optiprem study, looking at the most appropriate place of birth for babies born between 27 and 31 weeks); and a study exploring the link between neonatal admission and early childhood paediatric admission which aims to provide more comprehensive information and support to families being discharged from the neonatal unit about what the future may bring.

We have also supported a number of projects started at short notice to understand more about the impact of Covid-19 on babies, including the influential British Paediatric Surveillance Unit (BPSU) rapid surveillance project on the neonatal complications of coronavirus disease.

5. For babies born premature or sick to receive high-quality care within a neonatal health system which is appropriately funded, structured and staffed

Despite a significant policy and campaigning focus during this year on supporting parent access in the context of neonatal unit restrictions, we have still been able to progress a number of other campaigning objectives to ensure that babies are cared for in well-equipped neonatal services, and that families receive the support they need to be partners in delivering their baby’s care.

Policy activity undertaken and areas progressed this year included:

Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2021

We also responded to a series of consultations and inquiries covering a broad range of topics including: the BAPM Antenatal Optimisation & Breastmilk Feeding Toolkits; the Health Select Committee Workforce Burnout inquiry; the MBRRACE-UK Signs of Life consultation; and the NICE Antenatal Care Guideline.

During the latter part of the year we have been able to take forward our strategic priority of seeking to increase the reach of our work to a broader group of parents and families. Significantly, in February 2021 we were pleased to launch the first awareness month for babies born at term but sick, under the campaign strapline #HiddenNeonatalJourneys. This work was informed by a survey of over 500 parents of full term babies admitted to neonatal care, generated significant regional media coverage and social media engagement, and will become an annual event. In addition, we have been able to start two new pieces of beneficiary research – focusing respectively on young parents, and on South Asian parents – which will explore the experiences and needs of these groups. Both of these pieces of research will report in 21/22, in time to inform work in-year as well as our future strategy.

More broadly, we have continued to work hard this year to raise awareness of Bliss’ work across digital channels and the media, which resulted in an overall increase of 29 per cent in our website users – to over 675,000 users – as well as increased engagement through our social channels leading on to people accessing our website, with an 11.9 per cent increase of social referrals to our website, at over 79,000. We had sustained engagement with a wide range of activity over World Prematurity Day (17 November) this year, which included: a social campaign around the theme of #IWishIdKnown, with the main Facebook post reaching more than 80,000 people; a partnership with Pampers including a new animation, a TV ad which premiered during the Great British Bake Off, and extensive media coverage; a partnership with WaterWipes including an Instagram video with Newsround presenters Ricky and Leah Boleto; and further work with Bliss’ Ambassador Lady Sarra Hoy, including an appearance on BBC1’s Morning Live with her husband Chris.

Internally, like so many others we had to transition to a fully remote working model very quickly in March 2020, which has remained in place all year. In addition to some immediate changes in ways of working, this year we have also been able to progress planned infrastructure projects which have helped to facilitate more

Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2021

effective remote working, including the transition to a new database and migrating all of our IT to a new cloudbased system.

Plans for the future

While there remains significant external uncertainty relating to the progression of the Covid-19 pandemic and roadmap out of it, as we start the 21/22 financial year we have been able to refocus our attention principally on the delivery of the third and final year of our 2019-2022 strategy. As it stands, therefore, our main priorities for the year include:

In addition, we will undertake a process of strategy review to inform the development of our new 2022-2025 strategy, including engagement with our beneficiaries and stakeholders, as well as extensive review of the achievements and challenges of our current strategy, and a thorough process of external horizon-scanning.

Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2021

Thanks and acknowledgements

We would like to extend our thanks to the following organisations who have supported our work this year:

Abbvie Ltd Fresh Perspective Rotheras Solicitors Adint Charitable Trust Fundraise Together Limited Roxell UK Motors Ltd: Alltruck PLC GAP Giving Saatchi & Saatchi Angelcare Ltd Getinge AB Sainsburys Aurum Research Ltd Goldman Sachs Gives Scottish Goverment Babcock International Group Golin Smart Training & Recruitment Benevity (CG control account) Hallmark Cards PLC Solus Medical BP Garages Honda St James's Place Foundation Braitch Solictors Hudson Charitable Trust St. Modwen Properties Plc Bryan Cave Leighton Paisner LLP HW Coates Ltd The Adrienne and Leslie Sussman Charitable Trust Bullion Vault John James Bristol Foundation The Audience Club Buxted Construction JTH Charitable Trust The Edward Gostling Foundation Cambridge Healthcare Research Laxmi Financial Solutions Ltd The Elsie Lawrence Trust Campion Willcocks Compliance Llp Liberty Retail The Gilbert & Eileen Edgar Foundation Celtic Technologies Ltd Mallory Grant Ltd The Grace Trust Cepha Controls Limited Maynard & Harris The J P Jacobs Charitable Trust Chiesi Ltd Mazars Charitable Trust The Lambs Hill Trust Cisco Systems Foundation Medela The Linden Charitable Trust Close Parent Mochaberry The Lord Cozens-Hardy Trust Cotton & Son Funeral Directors Mothercare Foundation The Lovely Keepsake Company Limited Countryside Properties My 1st Years The Meikle Foundation Dandia Charitable Trust National Lottery Community Fund The P F Charitable Trust Department of Health Novo Nordisk Ltd The Ronald Miller Foundation E F and M G Hall Charitable Trust Orbis Investments The W E Dunn Trust Ecclesiastical Insurance P2G LLP Thomas J Horne Memorial Trust Enstar Group Park Circus Thrift plus Equin Limited Penguin Random House UK Transport For London Ergo Real Estate LLP Procter & Gamble UK Urovia Management Eve & Philip Morrison Family Trust R S Brownless Charitable Trust Varde Partners Europe Ltd Family Album Raffolux Vitabiotics Fidelity International Redburn WaterWipes Fitch Ratings Ltd Webmart

We also want to express our heartfelt thanks and appreciation for the £1m individual donation we received during the year.

Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2021

We would like to pay a huge tribute of thanks to all of Bliss’ amazing supporters who have supported Bliss over the last year, during a very challenging time due to the pandemic. Many of our community and fundraising events were unable to take place due to Covid restrictions. However, despite this setback, we diversified and innovated our fundraising programme. It is thanks to the incredible dedication, commitment and support of our individual supporters, families, community groups, companies and trusts that we have been able to continue to deliver our work to improve the lives of babies born premature or sick at this difficult time, so a huge thank you to every single one of supporters – your commitment to our work means so much.

Through our fundraising, we aim to improve the financial resilience and sustainability of Bliss so that we can help as many of the 100,000 babies who need neonatal care each year as possible. Our supporters are vital to us reaching our goal of helping every single one. Our fundraising approach to achieving this is to ensure:

We are incredibly grateful for the continued support of our many volunteers, whose contribution has made such a difference over the last challenging year; whether that was through supporting families, sharing their stories in the media, campaigning, or raising awareness of Bliss. We would also like to thank our dedicated Board of volunteer Trustees, who between them have given over 300 hours of their time to support Bliss over the last year; as well as our fantastic staff team, who have been simply incredible over the last year.

Finally, we would like to offer our sincere thanks to the following organisations that have supported our work over the past year, as well as the many hundreds of families, doctors, nurses and other individuals who continue to make such a difference to our work:

British Association of Perinatal Medicine Department of Health and Social Care EFCNI The FINE Faculty National Neonatal Audit Programme National Perinatal Epidemiology Unit Neonatal Data Analysis Unit Neonatal Nurses Association Netmums NHS England NIDCAP Training Centre Pregnancy and Baby Charities Network Public Health England Royal College of Midwives Royal College of Nursing Royal College of Obstetricians and Gynaecologists Royal College of Paediatrics and Child Health Sands Twins Trust The Lullaby Trust TinyLife

Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2021

Financial Review

During 20/21 we were fortunate to receive a significant donation, at a time when our community and events fundraising was significantly disrupted by the restrictions arising from Covid-19. This meant that although income from trading activities (which largely comprises sporting and community activities) dropped from £1m to £517k in the year, total income increased from £2,281k to £2,690k.

Expenditure had been planned to reduce again in 20/21, as the Board of Trustees and Senior Management Team maintained efforts to focus on further building our financial resilience by continuing to fully right-size our business model. With the uncertainty in the external environment persisting all year, we undertook additional cost cutting measures, for example by making use of the Government furlough scheme and maintaining staff gaps. Average FTE during the year decreased from 34 to 29. This careful cost control meant that total expenditure was reduced significantly from £2,060k to £1,826k.

Overall, this means that we have been able to achieve a positive surplus of £857k, compared to a positive surplus in 19/20 of £221k (which was itself the first positive surplus in 4 years). Total funds carried forward are now £1,211k, compared to £354k at the beginning of the year.

The Trustees are pleased with the solid position the Charity is now in, with the strong reserves position providing a high level of assurance that the charity can mitigate risks that face it, and – through the provision of regular, detailed financial information – recognise any changes in the internal or external environment that may arise.

The bank continued to provide support through the year via an overdraft facility, but this overdraft was not utilised during 20/21, and we end the year with a significantly improved bank and short term deposits balance of £885k, compared to £286k at the same point in the previous year. This means we have chosen not to apply for an overdraft facility for the 21/22 financial year.

During the year, we were able to deliver the second year of our strategy period, supported in part by some significant grant funding. Our support services benefitted from the final tranche of LIBOR funding from the UK Government and continued support from the Scottish Government, as well as specific Department of Health and National Lottery Coronavirus restricted funds, which meant that in total our support and information services received £167k of restricted income (19/20: £333k). The Scottish Government also supported our work to drive quality improvement on neonatal units through our Baby Charter audit and accreditation scheme, with a grant of £33k (19/20: £36k). Furthermore, Fidelity International awarded a grant of £56k to digitise the Baby Charter audit tool, which meant that this strand of our strategy benefitted from a total of £89k of restricted income (19/20: £46k).

As already noted, our unrestricted income saw a significant decrease this year, with fundraising from restricted and unrestricted trading activities, including sporting events, community events and corporate trading activities, decreasing to £533k (19/20: £1,050k). Within this however, our income from Bliss Sales increased in the year (from £114k to £165k), as we were able to generate additional income from the sponsorship of our information, and the use of our brand. Similarly, donations from corporate fundraising performed strongly again, increasing by £51k (following an increase in the prior year of £78k) due to excellent relationship building with several corporate supporters.

Support costs overall decreased slightly by £21k to £572k. The cost of raising funds also decreased, by £78k to £728k, largely due to the savings made on the operational costs of running events, although this was offset partly by work we have carried out during the year to develop our new CRM database (Raiser’s Edge), which will facilitate better fundraising operations in the future.

Our fundraising ratio has improved again, from 35p in every £1 raised to 27p in every £1 raised, although this is largely due to the exceptional donation in the year. Overall, Bliss’ charitable spend remained at 61p in every £1 spent on charitable activities. We are pleased with these figures but will continue to review our overall business model and central costs in order to make further improvements over time. We need to balance the requirement to manage our overhead costs with the need to invest in our capacity to provide professional, high quality and safe services and activities, and to ensure the charity remains sustainable in the long-term.

Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2021

Overall, we feel proud that we have been able to continue our work improving our business model this year, against the backdrop of an extremely challenging external environment, whilst also continuing to provide and develop the vital services we offer to improve outcomes for babies born premature or sick

Bliss Scotland (Charity)

Bliss Scotland offers a wide range of support and information to Scottish families and neonatal units. This year the cost of Bliss Scotland’s charitable activities was £74k (19/20: £85k), with total expenditure amounting to £95k (19/20: £126k). This was financed through grant income of £52k (19/20: £59k), £14k from trading activities (19/20: £64k), and £25k from donations (19/20: £5k). No donation (2019: £0k) was made this year from Bliss to Bliss Scotland. As its parent company, Bliss continues to provide administrative, logistical and fundraising support to Bliss Scotland, and a charge for this is made to Bliss Scotland.

Bliss Sales

Bliss Sales Limited is the trading arm of Bliss, selling goods, brand licensing and sponsorship opportunities to individuals and corporate entities. Bliss Sales Limited produced turnover of £165k (19/20: £114k) and a profit on ordinary activities before corporate gift aid of £132k (19/20: £92k). £132k (19/20: £92k) has been gifted to Bliss (Charity) through the corporate Gift Aid scheme.

Reporting

In order to be able to compare our income and expenditure from the previous years’ strategy period to this strategy period, and in order to show most clearly how our income and expenditure is generated and spent across the organisation, we use the following four key areas of work throughout our Annual Accounts.

Reserves policy and going concern

Reserves are needed to ensure that there remains enough liquidity to pay our staff and suppliers during times when cash flow fluctuates, to cover the value of our illiquid assets, to mitigate the financial risks we face such as unforeseen interruptions to our operations, to cover possible shortfalls in budgeted income, and to ensure that we can meet our planned spending commitments during the years ahead.

During the year, a new Reserves Policy was approved by the Trustees, which assessed the level of risk inherent within Bliss operations, and set out a calculation for determining the target level of reserves needed to mitigate that risk. This policy enables Bliss to determine whether currently held reserves are significantly above or below that target level. Where reserves vary from the target, plans will be made to bring reserves back in line with the target.

At the balance sheet date, total unrestricted funds are £1,208k (19/20: £324k). Free reserves are £707k above the calculated target of £389k (2019: £180k below target of £344k). This high level of above-target reserves has arisen mainly from the significant donation received during the year. Trustees and SMT have been through a rigorous process to prioritise spending of this donation over the next financial year – both on supporting core work and also on investing in capacity-building and direct service delivery – but this will still result in reserves being higher than target. As such, additional activity will be planned for the 22/23 financial year, to bring the actual level of reserves closer to the target level.

The Trustees have closely reviewed the going concern position prior to signing this report and are of the view that Bliss remains a going concern for the next 12 months, from the date this report was signed; and that there are no material uncertainties related to this.

Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2021

Investment powers and policy

During the year a new Investment Policy was approved by the Trustees, which supported in the assessment of appropriate institutions for holding cash, taking into consideration risk, liquidity and our ethical policy.

Most cash balances were held in easily accessible current accounts, with £300k held in a 1-year bond with Metro Bank. During the year £300k was invested in a COIF fund, in line with the new Investment Policy. This is shown within current asset investments.

Fundraising regulations

Bliss is registered with the Fundraising Regulator, and all fundraising activities are aligned with the Code of Fundraising Practice to ensure that they are legal, open, honest and respectful. Our values state that in all of our work we aim to be trusted, supportive and ambitious, and these values are enshrined in all fundraising activities and campaigns that the charity undertakes. To reinforce this commitment, Bliss has a number of policies and procedures that underpin its fundraising activities:

On occasion Bliss works with professional fundraisers or commercial participators to raise funds. When doing so, Bliss undertakes a thorough vetting and compliance process to ensure that all relationships and activities align with the relevant laws and regulations, and with the Bliss policies described above. Contracts and data sharing agreements are signed by all parties in line with current data protection legislation, and strict account management and monitoring processes are in place for all such relationships.

Any individual undertaking to fundraise on behalf of Bliss is given clear guidance on how to fundraise within the law to adhere to the Code of Fundraising Practice, and fundraising activities carried out on behalf of Bliss by third parties are regularly reviewed through dedicated account management, regular communications with supporters and monitoring of social media activity.

Bliss takes all complaints about its fundraising activities very seriously. A clear process for submitting complaints is displayed on our website, and all complaints are centrally stored and reviewed regularly throughout the year by the senior management team. A summary of all complaints received is also discussed and reviewed annually at the Board. In the 2020-21 financial year, Bliss received 22 complaints in relation to its fundraising activities, all of which were responded to and resolved to the satisfaction of the complainants.

Many donors and supporters of Bliss have a strong personal connection to neonatal care that may have come from a difficult personal experience, and as such all employees and third-party fundraisers are trained in how to deal with potentially vulnerable supporters. The Bliss Safeguarding Policy outlines the steps needed to report any safeguarding concerns should they arise.

Pay policy for senior staff

The directors consider the Board of Directors, who are the charity’s Trustees, and the senior management team, to comprise the key management personnel of the charity. They are charged with directing, controlling, running and operating the charity on a day-to-day basis.

The Trustees are not remunerated. The pay of the SMT is benchmarked against pay of similar positions in charities of a similar size, and is reviewed annually. The pay policy for senior staff is in line with the pay policy applied to Bliss’ staff, and for the Chief Executive is administered by the Nominations Committee of the Board (comprising the Chair, Vice-Chair and one other Trustee), in consultation with the Treasurer.

Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2021

Related parties

Details of related party transactions are in note 20.

Disclosure of information to auditors

Each Trustee has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditors are aware of such information.

Auditors

In accordance with section 485 of the Companies Act 2006, Sayer Vincent LLP were appointed as auditors of the company in 2017 and have continued to be appointed for the year ended 31 March 2021.

On behalf of the Board of Trustees.

Jason Parker Chair of Trustees

Date: 29 July 2021

Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees, who are also the directors of Bliss for the purpose of company law, are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charitable company and group and of the incoming resources and application of resources, including the income and expenditure, of the charitable company and group for that year.

In preparing these accounts, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charitable company guarantee to contribute an amount not exceeding £1 to the assets of the charitable company in the event of winding up. The total number of such guarantees at 31 March 2021 was 12 (2020: 15). The Trustees are members of the charitable company but this entitles them only to voting rights. The Trustees have no beneficial interest in the charitable company.

Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

INDEPENDENT AUDITOR’S REPORT

Opinion

We have audited the financial statements of Bliss – The National Charity for the Newborn (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 March 2021 which comprise the consolidated statement of financial activities, the group and parent charitable company balance sheets, the consolidated statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the group financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on Bliss – The National Charity for the Newborn's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees’ annual report other than the group financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the group financial statements does not cover the other information, and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the group financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the group financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

INDEPENDENT AUDITOR’S REPORT

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the parent charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group’s and the parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed auditor under the Companies Act 2006 and section 151 of the Charites Act 2011 and report in accordance with those Acts.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

INDEPENDENT AUDITOR’S REPORT

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

INDEPENDENT AUDITOR’S REPORT

Use of our report

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Judith Miller (Senior statutory auditor)

Date: 14 September 2021

for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL

Sayer Vincent LLP is eligible to act as auditor in terms of section 1212 of the Companies Act 2006

Bliss - The National Charity for the Newborn (A Company Limited by Guarantee)

Group Consolidated Statement of Financial Activities, including Income and Expenditure Account For the year ended 31 March 2021

Notes
Income
Donations and legacies
2
Charitable activities
3
Supporting parents and carers
Engaging with neonatal health professionals
Supporting research
Other trading activities
4
Investment income
Total income
Expenditure
Costs of raising funds
6
Charitable activities
7
Supporting parents and carers
Engaging with neonatal health professionals
Campaigning for change
Supporting research
Total expenditure
Net income / (expenditure) before transfers
Net gains / (losses) on investments
15
Transfers between funds
Net income / (expenditure) for the year and net
movement in funds
Fund balances brought forward
Fund balances carried forward
18		 Unrestricted
funds
£
Restricted
Funds
£
Total
2021
£
Total
2020
£
1,900,452
-
1,900,452
850,126
-
166,865
166,865
332,900
5,116
89,222
94,338
76,166
10,951
-
10,951
15,246
517,302
-
517,302
1,006,430
519
-
519
70
2,434,340
256,087
2,690,427
2,280,938
728,450
-
728,450
806,223
314,941
193,892
508,833
557,172
260,759
89,222
349,981
425,511
200,044
-
200,044
176,600
38,623
-
38,623
94,280
1,542,817
283,114
1,825,931
2,059,786
891,523
(27,027)
864,496
221,152
(7,115)
-
(7,115)
-
-
-
-
-
884,408
(27,027)
857,381
221,152
323,613
30,000
353,613
132,461
1,208,021
2,973
1,210,994
353,613

The statement of financial activities includes all gains and losses recognised during the year. All income and expenditure derive from continuing activities.

24

Balance Sheets As at 31 March 2021

Company no. 02609219

Bliss - The National Charity for the Newborn (A Company Limited by Guarantee)

Notes
Fixed Assets
Tangible assets
11
Investments
12
Current Assets
Debtors
14
Current asset investment
15
Short term deposits
Cash at bank and in hand
Creditors; amounts falling due within one year
16
Net current assets
Total assets less current liabilities
Funds
Restricted funds
18
Unrestricted funds
General Funds
Total funds		 2021
£
2020
£
2021
£
2020
£
112,354
159,432
112,354
159,432
-
-
1
1
Group
Charity
112,354
159,432
112,355
159,433
163,045
149,491
151,644
135,044
292,885
-
292,885
-
300,000
-
300,000
-
585,281
286,235
585,065
284,107
1,341,211
435,726
1,329,594
419,151
(242,571)
(241,545)
(231,349)
(229,501)
1,098,640
194,181
1,098,245
189,650
1,210,994
353,613
1,210,600
349,083
2,973
30,000
2,973
30,000
1,208,021
323,613
1,207,627
319,083
1,210,994
353,613
1,210,600
349,083

The trustees have prepared group accounts in accordance with section 398 of the Companies Act 2006 and section 138 of the Charities Act 2011.

The accounts were approved by the Board of Trustees on:

Jason Parker Chair of Trustees Date: 29 July 2021

25

Bliss - The National Charity for the Newborn (A Company Limited by Guarantee)

Statement of Cash Flows For the year ended 31 March 2021

Notes
Cash generated from / (used in) operating activities
21
Cash flows from investment activities
Dividends and interest income
Purchase of current asset investment
Purchase of tangible fixed assets
Cash provided by / (used in) investing activities
Cash used in financing activities
Increase / (decrease) in cash and cash equivalents
during the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Cash and cash equivalents consist of:
Cash at bank and in hand
Short term deposits		 2021
£
916,305
519
(300,000)
(17,778)
(317,259)
-
599,046
286,235
885,281
585,281
300,000
885,281		 2020
£
272,668
70
-
(3,922)
(3,852)
-
268,816
17,419
286,235
286,235
-
286,235

26

Bliss - The National Charity for the Newborn (A Company Limited by Guarantee)

Notes to the Accounts For the year ended 31 March 2021

1 Accounting Policies The important information, principal accounting policies adopted, judgements and key sources of estimation and uncertainty in the preparation of the financial statements are as follows: 1.1 Statutory information Bliss - the National Charity for the Newborn is a charitable company limited by guarantee and is incorporated in England and Wales. The registered office address is Maya House, 134-138 Borough High Street, London, SE1 1LB. 1.2 Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006/Charities Act 2011.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below. 1.3 Public benefit entity The charitable company meets the definition of a public benefit entity under FRS 102. 1.4 Preparation of the accounts on a going concern basis After reviewing the group's forecasts and projections, and following the significant donation in the year, the Trustees have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. The group therefore continues to adopt the going concern basis in preparing its consolidated financial statements. 1.5 Group financial statements The financial statements consolidate the results of the Charity, its wholly owned subsidiary Bliss Sales Limited and with Bliss Scotland (Charity) Limited on a lineby-line basis. Bliss Scotland (Charity) Limited has been consolidated given that it has trustees in common with the main charity and is subject to common governance processes. A separate Statement of Financial Activities and Income and Expenditure Account for the charity has not been presented because the charity has taken advantage of the exemption afforded by section 408 of the Companies Act 2006. 1.6 Income Income is recognised when the charity has entitlement to the funds, when any performance conditions attached to the items of income have been met and where it is probable that income will be received and quantified with reasonable accuracy.

Grants receivable in respect of expenditure charged to the Statement of Financial Activities during the year have been included in the Statement of Financial Activities. Income from government and other grants, whether 'capital' or 'revenue' grants, is recognised when the charity has entitlement to the funds. Where conditions to receiving the grant need to be met, income is recognised where it is probable that it will be received and measured with reasonable accuracy.

For legacies, entitlement is taken as the earlier of the date on which either the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executors that a distribution will be made, or when distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executors' intention to make a distribution. Where legacies have been notified to the charity or the charity is aware of the granting of probate and the criteria for income recognition have not been met, the legacy is treated as a contingent asset and disclosed if material.

1.7 Donated services Donated professional services are recognised when the service is given and is valued as either the economic benefit of the service to the charity or the cost to the donor.

1.8 Investments Fixed asset investments represent the investment held in the subsidiary company Bliss Sales Limited by the Charity. As these shares are unlisted, the trustees consider the appropriate market value of the investment to be the equivalent to the original cost.

Current asset investments are stated at market value. Unrealised gains and losses on the revaluation at the balance sheet date are included in the Statement of Financial Activities.

27

Bliss - The National Charity for the Newborn (A Company Limited by Guarantee)

Notes to the Accounts (Continued) For the year ended 31 March 2021

1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Short term deposits are held in an interest bearing 1 year fixed interest bond with Metro Bank PLC. Cash at bank is held in a business account at Lloyds Bank PLC, and in a 1 month notice account also with Lloyds.

1.10 Financial Instruments The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.11 Provisions Provisions are recognised when the charity has a legal or constructive present obligation as a result of a past event, it is probable that the charity will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision in measured at present value the unwinding of the discount is recognised as a finance cost in net income/(expenditure) in the period it arises.

1.12 Tangible fixed assets and depreciation Tangible fixed assets costing more than £500 are capitalised and included at cost. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value of each asset over its expected useful life, as follows:

Fixtures and fittings over 3 years Office and computer equipment over 3-5 years Leasehold property length of lease

1.13 Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in the furtherance of the general objectives of the charity. Designated funds are unrestricted funds, which are reserved for a specific purpose and available for use at the discretion of the trustees in the furtherance of the general objectives of the charity.

The purpose and use of restricted funds are imposed by donors or by specific terms of charity appeals.

1.14 Expenditure

Expenditure is recognised once there is legal or constructive obligations to make payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified as either the costs of raising funds, charitable expenditure or other expenditure that does not fall into the first two categories.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

1.15 Support and governance costs

Support costs are costs that assist the work of the charity but do not directly undertake its activities. Governance costs are costs directly attributable to the running of the Board. Both these costs have been allocated between the cost of raising funds and charitable activities on the basis of the staff time spent on each activity.

28

Bliss - The National Charity for the Newborn (A Company Limited by Guarantee)

Notes to the Accounts (Continued) For the year ended 31 March 2021

1.16 Operating leases

Rentals under operating leases are charged to the Statement of Financial Activities as incurred.

1.17 Tax status

The company is a registered charity and is not subject to corporation tax.

1.18 Value Added Tax

The charity is registered under a partial exemption scheme for VAT and as with many other charities, is unable to recover most of the VAT charged on its expenditure.

1.19 Pension scheme

The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. The pension cost charge represents contributions payable under the scheme by the charitable company to the fund. The charitable company has no liability under the scheme other than for the payment of those contributions. No contributions were owing at the balance sheet date.

1.20 Grant giving policy

The charity occaisionally provides grants for projects that have the potential to improve outcomes for premature and sick babies. Grants are recognised in accordance with the applicable accounting standard.

1.21 Volunteers

The assistance received from volunteers has not been financially recognised.

2
Donations and legacies
Unrestricted
Trust funding
Corporate funding
Donated professional services
Individual giving
Furlough grants
Payroll giving
Legacies		 2021
£
35,590
262,056
15,180
1,348,711
42,026
195,889
1,000
1,900,452		 2020
£
55,600
210,907
8,762
363,374
-
204,287
7,196
850,126

Donated professional services of £15,180 (2020: £8,762) relates to pro-bono legal work carried out on behalf of Bliss by Mishcon de Reya LLP which are recognised when the service is given and is valued as either the economic benefit of the service to the charity or the cost to the donor.

29

Bliss - The National Charity for the Newborn (A Company Limited by Guarantee)

Notes to the Accounts (Continued) For the year ended 31 March 2021

3
Income from charitable activities
Restricted
Supporting parents and carers
Government grants
Other grants
Engaging with neonatal health professionals
Government grants
Other grants
Supporting research
Other grants
Unrestricted
Engaging with neonatal health professionals
Fees and reimbursements
Supporting research
Researching Innovation
Total		 2021
£
104,530
62,335
166,865
33,110
56,112
89,222
-
-
5,116
5,116
10,951
10,951
272,154		 2020
£
300,250
32,650
332,900
35,982
10,000
45,982
1,950
1,950
30,184
30,184
13,296
13,296
424,312

Restricted income from charitable activities represents grants received from government and trusts to further Bliss' charitable objectives, plus restricted grants or donations from corporate partners . Unrestricted income from charitable activities represents fees charged to receipients of the Family Infant Neurodevelopmental Education training courses and other training events for health professionals, and trading relationships for the provision of research support.

30

Bliss - The National Charity for the Newborn (A Company Limited by Guarantee)

Notes to the Accounts (Continued) For the year ended 31 March 2021

4
Income from other trading activities
Unrestricted
Money raised through sporting and community activities
Income from trading activities - Room Rental
Income from trading activities - Bliss Sales Limited
5
Net income / (expenditure) for the year
Net income / (expenditure) for the year is stated after charging:
Operating lease - land and buildings
Auditors' remuneration - audit
Depreciation of fixed assets
6
Costs of raising funds
Unrestricted
Seeking donations, grants and legacies
Staging sporting and community activities
Costs of trading activities - Bliss Sales limited
Support costs - staff (note 8)
Support costs - other (note 8)
7
Charitable activities
Analysis of expenditure on charitable activities by fund
Supporting parents and carers
Engaging with neonatal health professionals
Campaigning for change
Supporting research
Total
Analysis of expenditure on charitable activities by fund prior year
Supporting parents and carers
Engaging with neonatal health professionals
Campaigning for change
Supporting research
Total		 2021
£
351,536
1,050
164,716
517,302
2021
£
107,712
12,750
64,856
2021
£
284,754
174,348
30,270
68,683
170,394
728,449
Unrestricted
2021
£
Restricted
2021
£
314,941
193,892
260,759
89,222
200,044
-
38,623
-		 2020
£
889,709
2,814
113,907
1,006,430
2020
£
102,204
12,500
64,937
2020
£
257,303
321,759
19,444
58,009
149,708
806,223
Total
2021
£

508,833

349,981

200,044

38,623
814,367
283,114
1,097,481
Unrestricted
2020
£
Restricted
2020
£
254,272
302,900
379,529
45,982
176,600
-
92,330
1,950		 Total
2020
£

557,172

425,511

176,600

94,280
902,731
350,832
1,253,563

31

Bliss - The National Charity for the Newborn (A Company Limited by Guarantee)

Notes to the Accounts (Continued) For the year ended 31 March 2021

Analysis of expenditure on charitable activities
Supporting parents and carers
Staff costs
Direct costs
Support costs
Engaging with neonatal health professionals
Staff costs
Direct costs
Support costs
Campaigning for change
Staff costs
Direct
Support costs
Supporting research
Staff costs
Direct costs
Research Grant
Support costs
Total		 Total
2021
£
302,870
93,567
112,396
508,833
206,141
67,831
76,008
349,980
134,740
9,575
55,729
200,044
8,348
595
25,000
4,679
38,622
1,097,479		 Total
2020
£
381,891
44,396
130,885
557,172
283,949
42,085
99,477
425,511
121,629
7,495
47,476
176,600
49,393
1,962
25,000
17,924
94,279
1,253,562

During 19/20 Bliss began payments on a research grant to Oxford University. The grant had originally been awarded for a three-year period, with a start date of 1 October 2020, and a grant value of £146k over the full term of the grant. Due to the need to rebalance Bliss's financial position during 19/20, the terms were amended to award £25k in that financial year only. Following assessment of the performance of the grant, £25k was also awarded in 20/21. No commitment was confirmed for future years, so no additional liability has been recognised at the balance sheet date, however on the submission of a progress report from the grantee, Bliss will assess performance and award a further £50k in the 21/22 finanical year, and a further £25k in the 22/23 financial year, if it is satisfied the necessary outcomes have been achieved.

8 Support costs

Staff costs
Depreciation
Telephone and IT costs
Audit and other professional fees
Trustee Expenses
Office rent, rates and service charge
Other office costs
Other support costs		 Costs of
raising funds
£
Charitable
Activities
£
Total
2021
£
Total
2020
£
68,683
83,622
152,305
146,948
25,294
39,562
64,856
64,936
43,323
52,559
95,882
89,988
7,008
10,962
17,970
27,374
-
-
-
1,133
66,795
104,474
171,269
172,940
9,121
14,080
23,201
41,695
18,854
27,176
46,030
47,405
239,078
332,435
571,513
592,419

Support costs are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the basis of estimated staff time attributable to each activity.

9 Trustees

No trustees or any persons connected with them received any remuneration during the year (2020: £nil).

0 trustees received reimbursements of travelling expenses (2020: 3 trustees received £1,085).

32

Bliss - The National Charity for the Newborn (A Company Limited by Guarantee)

Notes to the Accounts (Continued) For the year ended 31 March 2021

10 Employees and employment costs

Number of employees

The average number of employees during the year was 30 (2020: 39).

The average number of full-time equivalent employees during the year was:

Supporting parents and carers
Engaging with neonatal health professionals
Campaigning for change
Supporting research
Communications
Fundraising
Administration and CEO
Scotland
Employment costs
Staff costs consist of:
Wages and salaries
Redundancy and termination
Social Security Costs
Pension contributions		 2021
4.7
2.7
1.6
0.2
5.2
8.7
4.1
2.3
29.4
2021
£
911,118
10,779
88,902
52,733
1,063,532		 2020
6.3
4.7
1.2
1.0
5.3
8.4
5.1
2.3
34.3
2020
£
1,094,860
1,614
106,694
55,913
1,259,081

The highest paid employee was the Chief Executive, who earned £72,319 in pay (2020: Interim Chief Exectutive, £55,385). No other employee earned in excess of £60,000.

The Charity's trustees are not paid nor received any other benefits from employment with the Charity or its subsidiaries during the year (2020: £nil).

The key management personnel of the Group and Charity comprises of the Trustees, the Chief Executive, Director of Services, Director of Finance and Operations and Director of Fundraising. The total employee benefits of the key management personnel amounted to £192,871 in pay and pension contributions (2020: £229,858) and £20,995 was paid in employer's national insurance contributions (2020: £26,508).

Redundancy and termination payments are recognised in full upon the termination of employment. 2 employees received payments of this kind during the year (2020: 1).

A staff untaken leave accrual has not been included as being immaterial.

11 Tangible fixed assets Group and Charity

Tangible fixed assets
Group and Charity
Cost
At 1 April 2020
Additions
Disposals
At 31 March 2021
Depreciation
At 1 April 2020
Charge for the year
On disposals
At 31 March 2021
Net Book Value at 31 March 2021
Net Book Value at 31 March 2020		 Leasehold
property
£
Office
Equipment
£
Computer
Equipment
£
Total
£
160,195
25,054
181,979
367,228
-
-
17,778
17,778
-
-
(6,630)
(6,630)
160,195
25,054
193,127
378,376
68,439
19,434
119,923
207,796
35,987
2,489
26,380
64,856
-
-
(6,630)
(6,630)
104,426
21,923
139,672
266,021
55,769
3,131
53,454
112,354
91,756
5,620
62,056
159,432

33

Bliss - The National Charity for the Newborn (A Company Limited by Guarantee)

Notes to the Accounts (Continued) For the year ended 31 March 2021

12 Fixed Asset Investments Investment in
subsidiary
Charity
Cost at 1 April 2020 and 31 March 2021 1
Historical cost
As at 31 March 2021 1
Holdings of more than 20%
The charitable company controls more than 20% of the following entities;
Company subsidiary undertakings Country of registration or
incorporation Class Shares held Control
Bliss Sales Limited England and Wales Ordinary £1 1 100%
Bliss Scotland (Charity) Limited Scotland N/A N/A 100%

The principal activity of Bliss Sales Limited is trading operations that enhance the aims and objectives of Bliss. All activities have been consolidated on a line by line basis in the statement of financial activities. Available profits are gift aided to the charitable company.

Bliss Scotland (Charity) Limited is a company limited by guarantee in Scotland and a registered charity in Scotland. Its principal activity is to carry out Bliss' aims and objectives in Scotland. Control is exercised through the Chair and Treasurer of Bliss Scotland (Charity) Limited also being Trustees of Bliss. All activities have been consolidated on a line by line basis in the statement of financial activities.

The results of Bliss Sales Limited (a company registered in England and Wales, company number 03602721) for the year ended 31 March 2021 were as follows:

follows:
Turnover
Cost of Sales
Gross profit
Administration expenses
Operating profit
Gift aid payable to Bliss and Bliss Scotland
Corporation tax
Profit / (loss) for the year
The aggregate of the assets, liabilities and funds was:
Assets
Liabilities
Funds		 2021
£
164,716
-
164,716
(32,953)
131,763
(131,763)
-
-
11,721
(11,720)
1		 2020
£
113,907
-
113,907
(22,261)
91,646
(91,646)
-
-
23,221
(23,220)
1

At the balance sheet date £237 was owed by Bliss to Bliss Sales Ltd (2020: £7,905 owed by Bliss Sales Ltd to Bliss).

34

Bliss - The National Charity for the Newborn (A Company Limited by Guarantee)

Notes to the Accounts (Continued) As at 31 March 2021

13 Fixed Asset Investments (continued)

The results of Bliss Scotland (Charity) Limited (a company limited by guarantee, resistered in Scotland, company number SC365557 and a registered charity in Scotland, registration number SC040878) for the year ended 31 March 2021 were as follows:

Income
Donations
Charitable activities:
Supporting parents and carers
Engaging with neonatal health professionals
Supporting research
Other trading income
Total income
Expenditure
Costs of raising funds
Charitable activities:
Supporting parents and carers
Engaging with neonatal health professionals
Campaigning for change
Supporting research
Total expenditure
Net movement in funds
The aggregate of the assets, liabilities and funds was:
Assets
Liabilities
Funds		 Unrestricted
funds
£
Restricted
Funds
£
Total
2021
£
Total
2020
£
25,476
-
25,476
5,386
-
18,530
18,530
12,750
-
33,110
33,110
45,982
-
-
-
-
13,882
-
13,882
63,843
39,358
51,640
90,998
127,961
20,719
-
20,719
41,188
8,405
18,530
26,935
26,726
5,779
33,110
38,889
46,138
8,327
-
8,327
10,443
262
-
262
1,263
-
43,492
51,640
95,132
125,758
(4,134)
-
(4,134)
2,203
47,749
47,749
5,129
(47,354)
(47,354)
(600)
395
-
395
4,529

A management charge of £33,346 (2020: £54,868) was made by Bliss to Bliss Scotland (Charity) Ltd.

No donation (2020: £0) was made by Bliss to Bliss Scotland (Charity) Ltd.

At the balance sheet date, £47,220 (2020: £3,475) was owed by Bliss to Bliss Scotland (Charity) Ltd.

During the year, the parent charity received gross income of £2,630k (2020: £2,208k), and made a net profit of £862k (2020: £220k).

Debtors
Trade debtors
Other debtors
Amounts owed by group undertakings
Prepayments and accrued income		 2021
£
2020
£
2021
£
2020
£
14,384
22,582
2,983
4,605
67,493
71,918
67,493
71,918
-
-
-
7,905
81,168
54,991
81,168
50,616
Group
Charity
163,045
149,491
151,644
135,044

14 Debtors

15 Current Asset Investments

Current asset investments related to funds invested by the Charity in a common investment fund which was independently managed by CCLA Investment Management Limited

Fair value as at 1 April
Additions
Disposals
Net unrealised gains (losses) to 31 March
Fair value as at 31 March
Historic cost as at 31 March		 2021
£
-
300,000
-
(7,115)
292,885
300,000		 2020
£
-
-
-
-
-
-

35

Bliss - The National Charity for the Newborn (A Company Limited by Guarantee)

Notes to the Accounts (Continued) For the year ended 31 March 2021

16
Creditors
Trade creditors
Tax and Social Security Costs
VAT
Other creditors
Amounts owed to group undertakings
Accruals
Deferred Income		 2021
£
2020
£
2021
£
2020
£
76,528
82,770
76,528
82,770
21,241
24,751
21,241
24,751
7,601
4,320
-
-
2,528
2,559
2,528
2,559
-
-
47,458
3,476
77,294
94,421
76,094
93,221
57,379
32,724
7,500
22,724
Group
Charity
242,571
241,545
231,349
229,501

Deferred Income

Deferred income relates to funds received during the year, related to future periods

Balance at the beginning of the year
Amount released in the year
Increase in provision in the year
Balance at the end of the year
17
Commitments under operating leases
Operating leases payable
Less than one year
Between one and five years
18
Analysis of charitable funds
Current year
Analysis of movements in unrestricted funds
General fund
Total Group and Charity
Analysis of movements in restricted funds
Supporting parents and carers
LIBOR Fund
Department of Health
National Lottery
Other Grants
Engaging with neonatal health professionals
Fidelity International
Total Charity
Supporting families and their babies in Scotland
Supporting parents and carers
Engaging with neonatal health professionals
Total Bliss Scotland (Charity) Limited
Total Group and Charity
As at 31 March 2021, the Charity had commitments under non-cancellable		 2021
£
2020
£
2021
£
2020
£
32,724
32,724
22,724
22,724
(32,724)
(32,724)
(22,724)
(22,724)
57,379
32,724
7,500
22,724
57,379
32,724
7,500
22,724
2021
£
2020
£
2021
£
2020
£
107,712
107,712
26,856
1,896
62,832
170,544
43,460
1,810
170,544
278,256
70,316
3,706
Balance
1 April 2020
£
Income
£
Expenditure
£
Transfers
£
Funds
31 March 2021
£
323,613
2,427,225
(1,542,817)
-
1,208,021
operating leases. The total future minimum lease payments were as follows:
Land and Buildings
Plant & Machinery and IT
Group
Charity
323,613
2,427,225
(1,542,817)
-
1,208,021
Balance
1 April 2020
£
Income
£
Expenditure
£
Transfers
£
Funds
31 March 2021
£
30,000
-
(30,000)
-
-
-
86,000
(86,000)
-
-
-
39,841
(39,841)
-
-
-
22,494
(19,521)
-
2,973
-
56,112
(56,112)
-
-
30,000
204,447
(231,474)
-
2,973
-
18,530
(18,530)
-
-
-
33,110
(33,110)
-
-
-
51,640
(51,640)
-
-
30,000
256,087
(283,114)
-
2,973

36

Bliss - The National Charity for the Newborn (A Company Limited by Guarantee)

Notes to the Accounts (Continued) For the year ended 31 March 2021

18 Analysis of charitable funds (continued)

Supporting parents and carers

LIBOR Fund: this fund received from the Treasury Department was to support the growth of Bliss Champions. Total grant income from this fund amounted to £691,423 over the four years to 31st March 2021.

Department of Health: this grant was awarded to provide information and support for parents of babies in neonatal care during the Covid-19 response, during the period from April - Sept 2020

National Lottery: this grant was awarded under the Coronavirus Community Support Fund application process, to provide information and support for premature and sick babies and their families through the coronavirus crisis, during the period from Sept 2020 - Feb 2021.

Fidelity International: this grant was awarded to enable the development of the digital baby charter tool.

Supporting families and their babies in Scotland

These funds were received mainly from the Scottish Government, to support in the expansion of our work across Scotland.

Analysis of charitable funds (prior year)
Analysis of movements in unrestricted funds
Designated fixed asset fund
General fund
Total Group and Charity		 Balance
1 April 2019
£
Income
£
Expenditure
£
Transfers
£
Funds
31 March 2020
£
-
-
-
-
-
132,461
1,900,106
(1,708,954)
-
323,613
132,461
1,900,106
(1,708,954)
-
323,613

The designated fixed asset fund was used for fixed asset purchases. During the year Trustees decided not to designate funds in this way.

Analysis of movements in restricted funds (prior year)
Supporting parents and carers
LIBOR Fund
Other Grants
Engaging with neonatal health professionals
Other grants
Supporting research
Other grants
Total Charity
Supporting families and their babies in Scotland
Supporting parents and carers
Engaging with neonatal health professionals
Supporting research
Total Bliss Scotland (Charity) Limited
Total Group and Charity		 Balance
1 April 2019
£
Income
£
Expenditure
£
Transfers
£
Funds
31 March 2020
£
-
289,000
(259,000)
-
30,000
-
19,400
(19,400)
-
-
-
1,256
(1,256)
-
-
-
950
(950)
-
-
-
310,606
(280,606)
-
30,000
-
24,500
(24,500)
-
-
-
44,726
(44,726)
-
-
-
1,000
(1,000)
-
-
-
70,226
(70,226)
-
-
-
380,832
(350,832)
-
30,000

37

Bliss - The National Charity for the Newborn (A Company Limited by Guarantee)

Notes to the Accounts (Continued) For the year ended 31 March 2021

19
Analysis of net assets between funds
Current year
Tangible fixed assets
Current assets
Creditors, amounts falling due within one year
Prior year
Tangible fixed assets
Current assets
Creditors, amounts falling due within one year		 Unrestricted
funds
£
Restricted
Funds
£
Total
2021
£
112,354
-
112,354
1,338,238
2,973
1,341,211
(242,571)
-
(242,571)
1,208,021
2,973
1,210,994
Unrestricted
funds
£
Restricted
Funds
£
Total
2020
£
159,432
-
159,432
405,726
30,000
435,726
(241,545)
-
(241,545)
323,613
30,000
353,613

20 Related parties

The aggregate donations from related parties amounted to £3,245 (2020: £2,276).

21 Reconciliation of the net movement in funds to the net cash flow from operating activities

Net movement in funds
Depreciation charge
Dividend and interest income shown in investing activities
Net (gains) / losses on investments
Decrease / (increase) in debtors
Increase / (decrease) in creditors
Net cash generated from / (used in) operating activities		 2021
£
857,381
64,856
(519)
7,115
(13,554)
1,026
916,305		 2020
£
221,152
64,937
(70)
-
105,582
(118,933)
272,668

38