2022-03-31-accounts - The Bubble Foundation UK

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THE BUBBLE FOUNDATION UK UNAUDITED ANNUAL REPORT

FOR THE YEAR ENDED

31 MARCH 2022

Charity Number: 1024552

RSM UK Tax and Accounting Limited 1 St James’ Gate Newcastle upon Tyne NE1 4AD

THE BUBBLE FOUNDATION UK

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

Contents Pages

Charity Information	2-3
Chairman’s report	4
Report of the Trustees	5-13
Statement of Financial Activities	14
Balance Sheet	15
Statement of Cash Flows	16
Notes to the Financial Statements	17-24
Independent Examination Report	25

THE BUBBLE FOUNDATION UK

CHARITY INFORMATION AS AT 31 MARCH 2022

President – Brian McFadden, Musician and TV Presenter

Patrons – Charlie Hardwick, Actress and Alexander Millar, Artist

TRUSTEES – The Trustees during the year were:

Chairman – W Gaffney

Managing Director Seen and Heard

Vice Chairman - Prof A J Cant BSc, MD, FRCP, FRCPCH

Hon. Treasurer – N Stotesbury RGN, RSCN

Prof Sir Alan Craft MBBS, MRCP (UK), MD, FRCP, FRCPCH, FFPHM, FMed.Sci, FAAP, FRCP(I), FRCP(E), FIAP

Prof A R Gennery MB, ChB, MD.DCH, MRCP, MRCPCH

R Graham

A Lynch

C Smith

D Pearson (resigned from board 31.01.22)

P Simpson

I Brown

D Clark BA (Hons), Advertising and Design

Honorary Consultant Paediatrician in Immunology & Infectious Diseases

Charge Nurse, Children’s Haematopoeitic Stem Cell Transplant Unit, GNCH

Emeritus Professor of Child Health, Consultant Paediatrician, Royal Victoria Infirmary, Newcastle upon Tyne

Clinical Reader in Paediatric Immunology & Haematopoietic Stem Cell Transplantation, GNCH; University of Newcastle upon Tyne

Sports Centre Manager

Head of Asset Management, NEXUS

Solicitor

Managing Director

Stewardship Coordinator, Durham University

Sales Director

Designer, Self employed

M Slatter, MB ChB, FRCPCH, PG Cert Clinical Leadership

A Hodgson BA (Hons), Media, Communication & Cultural Studies

Consultant Paediatrician in Haematopoietic Stem Cell Transplantation, GNCH

PR Account Director, Gardiner Richardson

OFFICERS

Principal Employee – Mrs Gillian Wheeldon

ADDRESS

Ward 3, The Great North Children’s Hospital, Royal Victoria Infirmary, Queen Victoria Road, Newcastle upon Tyne, NE1 4LP

EMAIL bubble.foundation@nhs.net WEBSITE www.bubblefoundation.org.uk

THE BUBBLE FOUNDATION UK

CHARITY INFORMATION AS AT 31 MARCH 2022

ADVISERS

INDEPENDENT EXAMINER

RSM UK Tax and Accounting Limited 1 St James’ Gate Newcastle upon Tyne NE1 4AD

SOLICITORS

Ward Hadaway Sandgate House 102 Quayside Newcastle upon Tyne NE1 3DX

BANKERS

Barclays Bank plc Leicester LE87 2BB

Scottish Widows Bank plc 69 Morrison Street Edinburgh EH3 8YJ

Yorkshire Bank 131-135 Northumberland Street Newcastle upon Tyne NE1 7AG

THE BUBBLE FOUNDATION UK

CHAIRMAN’S REPORT FOR THE YEAR ENDED 31 MARCH 2022

We move into our 30[th] Anniversary year in a strong and stable position. We had an increase of just over 17% in our community fund raising as we recovered from Covid but we have our anonymous donor of last year to thank for the quarter of a million pounds that continues to contribute to our financial stability. To build on this we invested in a specially built database to enhance our fundraising capability to ensure we continue to remain in a position to fund our objectives.

To support our objective of enhancing the capability of the unit we have funded the purchase of an Accuvein 500. This is a state of the art, handheld device that helps medical staff to accurately and quickly find veins during cannulation, blood draws and other treatments. This vein visualization technology can project an up to date vein map onto the patient’s skin. This significantly reduces the stress for the children and babies which is in line with our objective of improving the quality of like for the patients we aim to support.

We have continued to seed corn fund research with funding for the researchers.

We plan to continue this as we move forward into next year.

Unfortunately we have to confront the reality that treatment will not always be successful. We have already agreed to fund nursing staff to train in bereavement counselling.

Within our responsibility of fiscal prudence we are committed to fund worthwhile projects to fulfil our responsibility to the generous donors to the Bubble Foundation who want to achieve improvements to the treatment of debilitating conditions not our balance sheet.

THE BUBBLE FOUNDATION UK

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022

The Trustees of The Bubble Foundation UK present their unaudited report for the year ended 31 March 2022.

The Trustees have had regard to the Charity Commission’s guidance of public benefit when preparing the financial statements

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.

The accounts have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

REFERENCE AND ADMINISTRATIVE INFORMATION

The charity was registered with the Charity Commissioners on 4 August 1993 and the registration number is 1024552. The trustees of the charity, the principal officer and the address of the charity are listed on page 2. Particulars of the charity’s advisers are given on page 3.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is constituted by means of a Trust Deed dated 14 July 1993 and last amended in 2003.

Governing Body

The charity is governed by the trustees. The trustees have the power to appoint new trustees. New trustees are recruited on the basis of need and recommendation. The new trustees are trained by introductory meetings with the chairman, the consultants and staff of The Bone Marrow Transplant Unit which is the centre of our activities and the staff of the charity. They are also supplied with the relative booklets from the Charity Commission.

Organisational Management

The trustees are responsible for the management and control of the charity. Meetings are held bimonthly.

OBJECTIVES AND ACTIVITIES

Objectives

The principal objectives of the charity are to make lump sum or periodical payments from Unrestricted Funds to or for the purpose of:

THE BUBBLE FOUNDATION UK

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

a) sponsoring research into improving the understanding of immunological and infectious diseases in childhood and the finding of better forms of treatment;
b supporting the care of children with immunological or infectious diseases by providing resources, facilities, equipment and personnel for use in both hospital and community settings;
c) the raising of public awareness of immunological and infectious diseases in children;
d) funding education and training for those fulfilling the objectives referred to above; and
e) giving financial assistance to families of children suffering from immunological and infectious diseases.

ACTIVITIES

Our main activities continue to be centred around The Children’s Bone Marrow Transplant Unit at The Great North Children’s Hospital. The Unit treats children with immunodeficiencies from the northern half of England, Scotland, Northern Ireland and Southern Ireland, as well as an increasing number from Europe and further afield.

Staff

Mrs Gillian Wheeldon continues as part-time Fundraising Manager and is responsible for community fundraising and administration. Mrs Wheeldon is seconded from the NHS Trust with staff costs recharged to the Charity.

Charitable Activities

Our charitable activities are:

1 Research – we see the sponsoring of Research Programmes as an increasingly important part of our work.
2 Clinical and other equipment – our policy is to provide equipment over and above what the NHS deems essential to ensure that patients are given the best possible treatment.
3 Parents and Family support – patients have to stay in hospital for long periods during which time parents stay in flats near to the hospital. We provide equipment and furniture for these flats, pay for nursery care for siblings and provide assistance with travel.
4 Toys and Educational Equipment – patients have to be confined in very small areas during a long stay in hospital. In order to promote normal development, maintain morale and provide stimulation we supply toys and educational equipment and pay for satellite television.
5 Staff training – we assist medical staff who need to go on specialist courses and attend conferences with fees, travel and subsistence.

THE BUBBLE FOUNDATION UK

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

HOW OUR ACTIVITIES DELIVER PUBLIC BENEFIT

Research

We continue to support research programmes that are focused upon increasing knowledge about types of immune deficient conditions and improving individual treatment of patients and their survival rates.

We are looking at the effect of inflammation of blood vessels in lungs as a complication of bone marrow transplantation – and a possible treatment. A PhD fellow, Dr Laberko, from Russia, is investigating this with a laboratory-based project. Initial results are exciting and confirm preliminary observations – the results will likely lead to a better understanding of the complication, and development of a new treatment and improved survival. Provisional results suggest that a treatment that is already available for another disease may also be useful in this condition. Data from this project were presented at EBMT in 2022.

Recent clinical research conducted by the unit has led to:-

Ground breaking results using stem cells with genetically modified T cells added to clear viral infection to treat patients, which has widened the application of transplant to patients previously without donors. This has lead to the successful application to run a prospective clinical trial using this treatment.
Investigating the mechanism of action of Extracorporeal Photopheresis (ECP) to treat acute graft-versus-host disease, a complication of bone marrow transplantation.

We investigated how ECP treatment cures acute graft-versus-host disease, by examining cells and proteins in the blood. We found biological markers in the blood that indicated how the treatment is progressing, which allowed us to modify the treatment to the patient, rather than simply follow a protocol. This has led to collaboration with researchers at Harvard University, Boston and shown that unique transcriptional DNA pathways are activated during ECP treatment. This work is now published. We were part of a multi-national clinical trial to see if early use of ECP is more effective than later treatment. The trial is closed and results have been published and show that ECP is effective in treating acute GvHD, reducing steroid dose and is safe to administer.

The largest study in the UK investigating the health of patients with X-linked agammaglobulinaemia. Results are to be published, but suggest that current treatment inevitably leads to permanent lung damage, and new treatments may need to be considered. Several patients have now been transplanted for this condition, leading to cure of the disease.

Current funding is supporting a PhD fellow who is looking at the immune reactions in lungs posttransplant.

Previous Research

The largest study in the UK of X-linked Carriers of CGD demonstrating for the first time the full extent of medical problems from which they suffer. This is now published and for the first time demonstrates that carriers may be patients themselves – this work is the first in the world to demonstrate the problem and may lead to new approaches to treating these women;
Pioneering transplantation as a definitive cure for Chronic Granulomatous Disease within the UK, and demonstrating superior survival and normal life quality in the transplanted cohort compared to those treated conventionally;
The first successful UK transplant for Juvenile Idiopathic Arthritis, with further success since then;

THE BUBBLE FOUNDATION UK

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

Pioneering bone marrow transplantation to treat children with complex autoimmune diseases including IPEX syndrome;
Ongoing discovery of new immunodeficiencies;
Establishment of less toxic chemotherapy regimens to pre-treat transplant patients, with superior survival and better immune function;
The establishment of a more effective treatment (ECP) for graft-versus host disease using equipment financed by the Bubble Foundation, enabling us to effectively treat smaller and younger children than previously possible, including patients referred from Great Ormond Street Hospital;
Development of conditioning protocols for the treatment of children with defective DNA repair and immunodeficiency, who previously had a very poor outcome following transplantation;
Better ways to monitor the development of the new immune system after transplantation;
Internationally recognised research into the long-term outcome of patients treated by mismatched transplantation;
The identification of possible mechanisms of autoimmune disease in children with partial DiGeorge Syndrome;
The identification of best treatment for children with complete DiGeorge Syndrome;
The development of bone marrow transplantation for the rare immunodeficiencies, cartilage hair hypoplasia and leukocyte adhesion deficiency;
Identification of lung complications post transplantation leading to new strategies.

During the last ten years, the number of patients from England, Wales, Scotland and Ireland transplanted in the unit annually has risen from 17 to an excess of 50, with survival rising from 59% to 90-95%, including patients undergoing the most difficult mismatched transplants. Increasingly we are taking referrals from around Europe including Iceland, Norway, Finland, Slovenia, Spain, Portugal, Malta, Greece, Bulgaria, Estonia, Russia, USA, Kuwait, and Saudi Arabia and other areas of the Middle East.

Other funding continues to partly support the position of the Academic Secretary, who has a number of critical roles including research project management, co-ordinating the research team and coordinating our International Fellowship programme.

Research funding has also supported the role of Angela Grainger, Technical Assistant in Professor Sophie Hambleton’s research laboratory, helping design and run experiments, and being involved in the discovery of novel immunodeficiencies. Angela has continued to work in the laboratory of Professor Hambleton to support her research group, helping researchers and setting up new experiments.

CAREER DEVELOPMENT

The Bubble Foundation has funded numerous research projects over the years, which has not only resulted in new discoveries, but also the development of doctors in training.

 Professor Andrew Gennery

Part funded as Senior Lecturer in Paediatric Immunology and Bone Marrow Transplantation 20022007.

Present Post: Professor in Paediatric Immunology + HSCT, Newcastle University and Great North Children’s Hospital, Newcastle upon Tyne

THE BUBBLE FOUNDATION UK

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

 Dr Theresa Cole

Part funded as Research Associate 2009-2012

PhD: Chronic Granulomatous Disease: Clinical course, quality of life, cognitive outcome and cost benefit with conventional treatment or Haematpoietic Stem Cell Transplant. Present Post: Consultant and Head of Paediatric Stem Cell Transplantation, Melbourne Children’s Hospital, Australia

 Dr Alexandra Battersby

Part funded as Research Associate 2011-2014

PhD: An Investigation into the Health of Carriers of X-linked Chronic Granulomatous Disease . Present Post: Consultant in General Paediatrics, Great North Children’s Hospital, Newcastle upon Tyne

 Dr Aisling Flinn

Part funded as Research Associate 2015-2018

PhD: Investigation into the mechanism of action, development of thymopoiesis and assessment of quality of life in a cohort of paediatric patients with acute GvHD treated with ECP.

Present Post: Academic Clinical Lecturer in Paediatric Immunology, Newcastle University and Great North Children’s Hospital, Newcastle upon Tyne

 Dr Benjamin Shillitoe Part funded as Research Associate 2015-2018

PhD: A multi-centre cross-sectional, cohort study investigating the health and health-related quality of life of the UK X-linked agammaglobulinaemia population.

Present Post: National Grid Trainee in Paediatric Immunology, Great North Children’s Hospital, Newcastle upon Tyne – to start as a consultant paediatric immunologist in Sheffield early next year.

PLANS FOR FUTURE PERIODS

The Bone Marrow Transplant Unit, situated at the Great North Children’s Hospital, will continue to be the centre of all our activities. This supra regional unit treats children from England, Scotland and Northern Ireland and Southern Ireland as well as an increasing number of referrals from Europe, and beyond, as well as training doctors from around the world to help their patients after training.

We wish to continue with all our charitable activities but the emphasis is increasingly on research, which to date has produced significant results enabling the unit to treat successfully a wide range of serious and potentially fatal conditions with outstanding success.

Whilst income levels remain strong, requests for funds especially in the area of research continue to grow. Our uncommitted funds are still comparatively low and we will need to continue to increase income wherever possible if we are to meet our objectives in the future.

THE BUBBLE FOUNDATION UK

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

Clinical and other equipment

We continue to supply equipment requested by medical staff and which cannot be supplied by the NHS, to ensure the best possible care for the babies and children being treated in The Bone Marrow Transplant Unit. The Bubble Foundation funded the audio-visual equipment in the resource room on the transplant unit, which has facilitated our clinical and academic remote meetings through the pandemic, and enabled us to hold remote consultations and share our expertise with other groups around the world.

Family Support

We continue to provide financial assistance for families in emergencies.

Toys and Educational Equipment

Children are confined in a sterile room during treatment for up to six months. Empirical evidence indicates that the more positive the attitude of the patient, the better the recovery. We continue to provide Sky Television to each bed in the unit. We also provide each child entering the unit with toys which cannot be transferred from one child to another due to the risk of infection. We also provide books required for the educational needs of older patients.

The Play Team

The Foundation supports the work of the Play Team by providing toys, educational equipment and access to Sky television. The Play Team on the unit comprises of a Hospital Play Specialist Team Leader, and two Nursery Nurses. The team work 7 days per week. This ensures that the children and young people in our care have access to all essential play opportunities during their long stay in hospital.

They aim to visit the children and young people every day during their admission, devise structured Play Plans to meet the individual needs of the children in isolation and ultimately deter the negative effects of the hospital stay, isolation and ill health through positive play opportunities, encouraging fun, laughter and enjoyment within the most unusual of environments.

They also aim to support the children and young people before their admission, preparing them for the events ahead and after discharge in the Day Unit facility. A hospital stay or visit will induce stress, fears and anxieties, and play is the tool we can offer to aid the ability to cope with the experience. Play and recreation for children and young people in hospital is now seen as an essential requirement and should be provided in all paediatric areas and departments. Play in the hospital environment has therapeutic values and functions to prevent the ill effects of a hospital experience, as well as encouraging growth and development.

Play in hospital as a way to…

Provide the pleasure and comfort of normal experiences within abnormal environments.
Allow adjustment and gain control and mastery over self and potentially frightening environments.
Allowing a child to regain a sense of skill and achievement, combating feelings of helplessness, loss of control and dependence of carers.
Socialise, make friends with peers, gaining support through sharing experiences.
Keep alive thoughts and ideas of home and family life by encouraging memories and contact with home.
Provide a mechanism to deal with fears, fantasies and emotions in the safety and security of familiar play.

THE BUBBLE FOUNDATION UK

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

Reduce anxiety and increase coping abilities.
Speed recovery and rehabilitation.
Facilitate and encourage communication pathways and relationships.
Prepare for hospitalisation and procedures.
Allow clinical judgements through observation.
Offer diversion techniques during the admission and during procedures.
Prevent developmental regression or delay.
Aid understanding of information, to facilitate the child’s choice and participation in their care and treatments.
Provide fun entertainment and activity, deterring boredom.
Support families and siblings.

It is the healthcare professionals and management team’s responsibility to ensure every child and young person in their care are offered appropriate play opportunities to limit the ill effects of a hospital stay, encouraging the child’s ability to cope and enforcing a positive hospital experience.

Staff Training

We continue to provide assistance to doctors and nurses to enable them to attend international conferences.

Fundraising

The Foundation’s main source of income is from community fundraising which mainly comes from patients and their families who organise events in their own communities around the UK and Ireland. The President Brian McFadden continues to be involved engaging in various events on our behalf. In Newcastle we continue to hold a monthly gig with the Smokin Spitfires at the Cluny, which started in September 2013 and as a result there have been a number of other events organised by the attendees.

THE BUBBLE FOUNDATION UK

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

The COVID-19 pandemic has prevented the charity from undertaking its usual fundraising activities in a period where the charity's services are more in demand, with many families struggling to provide food due to loss of income. Fortunately, due to the substantial donations received during and after the year under review the charity has been able to assist those in need.

FINANCIAL REVIEW

Net Income/Expenditure

This year has seen net outgoing resources of £37,685 (2021: net incoming resources of £197,582).

Income

Income for the year of £40,574 was down on last year's total of £284,781. Community fundraising which continues to be our main source of income decreased to £39,314 (2021: £284,260). Income from corporate donations remain at £nil (2021: £nil) which is disappointing but reflects the difficult trading conditions experienced by many companies. Income from Charitable Trusts was also £nil (2021: £nil).

Expenditure

Costs of generating voluntary income showed an increase from £1,364 in 2021 to £5,832 this year. Expenditure on charitable activities decreased from £85,835 in 2021 to £72,427 this year.

Reserves

Whilst we have no contingent liabilities we have thought it prudent to establish a reserve of approximately two months overheads and commitments in case of an unexpected drop in income. The required reserve based on this is £14,000.

The charity currently has free reserves of £566,612 (2021: £589,660), this is sufficient to meet the required two months overheads and commitments. The charity has committed to funding a range of research projects over the coming years in order to bring the reserves more in line with the target level.

THE BUBBLE FOUNDATION UK

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

Trustees’ Responsibilities

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the Trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.

Signed on behalf of the Trustees.

………………

Date: 11/10/22

THE BUBBLE FOUNDATION UK

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

INCOME AND EXPENDITURE

Note Incoming resources Donations and legacies 2 Investment income 3 Total incoming resources Resources expended Cost of raising funds: Costs of generating voluntary income 4 Costs of generating funds 5 Expenditure on Charitable Activities: Research and support of children with immunodeficiencies 6 Total resources expended Net movement in funds Fund balances at 31 March 2021 Fund balances at 31 March 2022	Unrestricted Funds 2022 Restricted Funds 2022 Total Funds 2022 Total Funds 2021 £ £ £ £ 39,314 1,000 40,314 284,260 260 - 260 521
	39,574 1,000 40,574 284,781
	5,832 - 5,832 1,364 - - - - 56,790 15,637 72,427 85,835
	62,622 15,637 78,259 87,199
	(23,048) (14,637) (37,685) 197,582
	604,660 28,939 633,599 436,017
	581,612 14,302 595,914 633,599

Continuing Operations

None of the charity’s activities were acquired or discontinued during the above two financial years.

The notes on pages 17 to 24 form part of these financial statements.

THE BUBBLE FOUNDATION UK

BALANCE SHEET AS AT 31 MARCH 2022

Note CURRENT ASSETS Trading Stock 5 Debtors 13 Bank Accounts Deposit Accounts CREDITORS: Amounts falling due within one year 14 NET CURRENT ASSETS FUNDS Unrestricted Funds General 17 Designated 16,17 Restricted Funds 15	2022 £ 329 - 99,254 515,751 615,334 (19,420) 595,914 566,612 15,000 14,302 595,914	2021 £ 329 435 156,975 515,491
		673,230 (39,631)
		633,599
		589,660 15,000 28,939 633,599

These financial statements were approved by the trustees on the and are signed on their 11/10/22 behalf by:

Wilf Gaffney Trustee

The notes on pages 17 to 24 form part of these financial statements.

THE BUBBLE FOUNDATION UK

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022

Note Net cash flows from operating activities 18 Cash flows from investing activities Interest received Net cash provided by investing activities Increase/(Decrease) in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Total cash and cash equivalents at the end of the year	2022 £ (57,721) 260 260 (57,461) 672,466 615,005	2021 £ 190,008 521
		521
		190,529 481,937
		672,466

THE BUBBLE FOUNDATION UK

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. Accounting Policies

a) 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 (FRS102) (effective 1 January 2019) – Charities SORP (FRS102), the Financial Reporting Standard applicable in the UK (FRS102).

The Bubble Foundation UK is an unincorporated Charity. The address of the Charity’s registered office and principle place of business is Ward 3, The Great North Children’s Hospital, Royal Victoria Infirmary, Queen Victoria Road, Newcastle upon Tyne, NE1 4LP. The charity meets the definition of public benefit entity under FRS102.

Going concern

Financial Reporting Standard 102 requires, if appropriate, the charity’s financial statements are prepared on the going concern basis, which means that the charity is able to operate for the foreseeable future on the basis of known and reasonable projected resources. There are no material uncertainties in respect of the charity’s ability to continue as a going concern. The charity holds sufficient free reserves to meet medium term core costs as detailed within its’ reserves policy. As a consequence, the Trustees believe that the charity is well placed to manage its business risks successfully and thus they have adopted the going concern basis of accounting in preparing the financial statements.

The Trustees have assessed the impact of the COVID-19 pandemic on the forecasts and consider that the charity will be able to continue in operational existence for the next 12 months

b) Fund Accounting

The charity’s general funds consist of funds which the charity may use for its purposes at its discretion. The charity has designated certain funds for specific purposes. The trustees have decided that setting aside funds in this way is a useful financial discipline which will help the charity make the best use of its resources. The funds held in each of these designates are disclosed in note 17.

c) Incoming Resources

Voluntary income, including donations and sponsorship income, of a general nature are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.

Investment income is recognised on a receivable basis.

Donated services and facilities are included at the value to the charity where this can be quantified.

Income from fundraising events and sale of goods is recognised once earned.

THE BUBBLE FOUNDATION UK

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. Accounting Policies (continued)

d) Resources Expended

Expenditure is recognised when a liability is incurred.

Costs of generating voluntary income are those costs incurred in attracting voluntary income. Costs of generating funds are those incurred in trading activities that raise funds.

Charitable activities include expenditure associated with research into immunodeficiencies and the support of children and families suffering from immune deficient conditions. Costs include both direct costs and support costs relating to these activities.

Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

Support costs include central functions and have been allocated to activity costs, costs of generating funds and governance costs on the basis of management estimates of the amount attributable to that cost category in the year.

e) Funds

i) Restricted funds are to be used for specific purposes as laid down by the donor.

Expenditure which meets these criteria is identified to the fund.

ii) Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes

f) Stock

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

g) Financial Instruments

The charity has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS102, in full to all of its financial instruments. All of the charities financial assets and financial liabilities qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Debtors

Prepayments are valued at the amount prepaid. Other debtors are recognised at the settlement amount.

Cash at bank and in hand

Cash at bank and cash in hand includes cash held at bank and cash in hand.

THE BUBBLE FOUNDATION UK

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. Accounting Policies (continued)

Creditors and provisions

Trade and other creditors (including accruals) payable within one year that do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

Critical Accounting Estimates and Areas of Judgement

Estimates and Judgments 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.

2. Income from donations and legacies Community donations and sponsorships Charitable Trusts 2021 total 3. Investment Income Bank interest receivable	Unrestricted Restricted £ £ 39,314 1,000 - -	2022 2021 £ £ 40,314 284,260 - - 40,314 284,260
	39,314 1,000
		284,260 2022 2021 £ £ 260 521
	284,260 -

The investment income in 2022 and 2021 is unrestricted.

THE BUBBLE FOUNDATION UK

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

4. Cost of raising funds: Costs of Generating Voluntary Income 2022 2021 £ £ Office costs Institute of Fundraising subscription 582 92 582 92 Printing, Stationery and Postage 37 155 Website 220 335 Event support Database - 4,901 200 - 5,832 1,364 The costs of generating voluntary income in 2022 and 2021 all related to unrestricted funds. 5. Costs of Generating Funds 2022 2021 £ £ Opening stock of DVD’s, CD’s, Christmas cards & soft toys 329 329 Purchases - - Less closing stock of DVD’s, CD’s, Christmas cards & soft toys (329) (329) - - The costs of generating funds in 2022 and 2021 all related to unrestricted funds. 6. Expenditure on Charitable Activities Unrestricted Restricted 2022 2021 £ £ £ £ Research and support of children with immunodeficiencies Research 43,089 - 43,089 74,279 Parent and families support and welfare - 2,999 2,999 1,680 Toys and educational equipment 8,494 636 9,130 7,066 Clinical Equipment 3,227 12,002 15,229 - Covid-19 Staff Support - - - 1,010 Governance costs 1,980 - 1,980 1,800 56,790 15,637 72,427 85,835 2021 total 80,750 5,085 85,835 7. Governance Costs 2022 2021 £ £ Audit and accountancy 1,980 1,800	4. Cost of raising funds: Costs of Generating Voluntary Income 2022 2021 £ £ Office costs Institute of Fundraising subscription 582 92 582 92 Printing, Stationery and Postage 37 155 Website 220 335 Event support Database - 4,901 200 - 5,832 1,364 The costs of generating voluntary income in 2022 and 2021 all related to unrestricted funds. 5. Costs of Generating Funds 2022 2021 £ £ Opening stock of DVD’s, CD’s, Christmas cards & soft toys 329 329 Purchases - - Less closing stock of DVD’s, CD’s, Christmas cards & soft toys (329) (329) - - The costs of generating funds in 2022 and 2021 all related to unrestricted funds. 6. Expenditure on Charitable Activities Unrestricted Restricted 2022 2021 £ £ £ £ Research and support of children with immunodeficiencies Research 43,089 - 43,089 74,279 Parent and families support and welfare - 2,999 2,999 1,680 Toys and educational equipment 8,494 636 9,130 7,066 Clinical Equipment 3,227 12,002 15,229 - Covid-19 Staff Support - - - 1,010 Governance costs 1,980 - 1,980 1,800 56,790 15,637 72,427 85,835 2021 total 80,750 5,085 85,835 7. Governance Costs 2022 2021 £ £ Audit and accountancy 1,980 1,800	4. Cost of raising funds: Costs of Generating Voluntary Income 2022 2021 £ £ Office costs Institute of Fundraising subscription 582 92 582 92 Printing, Stationery and Postage 37 155 Website 220 335 Event support Database - 4,901 200 - 5,832 1,364 The costs of generating voluntary income in 2022 and 2021 all related to unrestricted funds. 5. Costs of Generating Funds 2022 2021 £ £ Opening stock of DVD’s, CD’s, Christmas cards & soft toys 329 329 Purchases - - Less closing stock of DVD’s, CD’s, Christmas cards & soft toys (329) (329) - - The costs of generating funds in 2022 and 2021 all related to unrestricted funds. 6. Expenditure on Charitable Activities Unrestricted Restricted 2022 2021 £ £ £ £ Research and support of children with immunodeficiencies Research 43,089 - 43,089 74,279 Parent and families support and welfare - 2,999 2,999 1,680 Toys and educational equipment 8,494 636 9,130 7,066 Clinical Equipment 3,227 12,002 15,229 - Covid-19 Staff Support - - - 1,010 Governance costs 1,980 - 1,980 1,800 56,790 15,637 72,427 85,835 2021 total 80,750 5,085 85,835 7. Governance Costs 2022 2021 £ £ Audit and accountancy 1,980 1,800
	80,750 5,085 85,835 2022 2021 £ £ 1,980 1,800
		2022 £ 1,980

THE BUBBLE FOUNDATION UK

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

8. Allocation of Support Costs Insurance Website development Personnel costs Telephone Printing/postage/stationery Office expenses Professional Event support Database Office relocation	Fundraising Costs Charitable Activity Governance Costs Total 2022 Total 2021 £ £ £ £ £ - 365 - 365 361 220 - - 220 335 - 19,692 - 19,692 19,692 - 675 - 675 756 37 582 29 105 - - 66 687 155 949 92 - 1,980 2,072 1,892 - 4,901 - - - 3,004 - - - - 4,901 3,004 200 - - 5,832 23,870 1,980 31,682 24,340

Support costs are made up of staff & office costs less governance costs. This cost is apportioned over the different components of unrestricted charitable activities.

9. Analysis of grants

Research posts	Grants to institutions Grants to individuals £ £ 24,328 - 24,328 -

Of support costs included in note 8, £18,761 (2021: £19,927) relates to grant making activities.

Recipients of institutional grants:

To fund higher education research posts: University of Newcastle 10. Staff Numbers and Emoluments 2022 £ Wages and salaries -	2021 £ - Total £ 24,328 24,328

The charity paid £19,692 (2021: £19,692) during the year to a third party for the provision of the fundraising manager, these costs are included in support costs.

No employees earned more than £60,000 during the year.

Key management personnel 2 2

No remuneration was paid to key management personnel during the year (2021: £nil).

Volunteer time - none

THE BUBBLE FOUNDATION UK

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

Particulars of Employees:

The average number of staff employed by the Charity during the financial year amounted to:

Number of staff

2022	2021
1	1

11. Trustees’ Remuneration

Trustees received no remuneration and were not reimbursed for any of their expenses in the year (2021: £nil).

12. Movement in Total Funds for the Year This is stated after charging: Fees payable for independent examination 13. Debtors Other debtors 14. Creditors: Amount falling due within one year Trade Creditors Other creditors	2022 £ 1,980 2022 £ - 2022 £ 17,440 1,980 19,420	2021 £ 1,800
		2021 £ 435 2021 £ 23,062 16,569 39,631

THE BUBBLE FOUNDATION UK

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

15. Restricted Funds

The income funds of the charity include the following restricted funds which have been donated for specific purposes:

Medical research Family Support Toys and Educational Support Clinical Equipment Medical research Family Support Toys and Educational Support Clinical Equipment	Balance at 31 Mar 2021 Income Expenditure Balance at 31 Mar 2022 £ £ £ £ 11,550 - - 11,550 4,751 1,000 2,999 2,752 636 - 636 - 12,002 - 12,002 -
	28,939 1,000 15,637 14,302
	Balance at 31 Mar 2020 Income Expenditure Balance at 31 Mar 2021 £ £ £ £ 11,550 - - 11,550 6,431 - 1,680 4,751 4,041 - 3,405 636 12,002 - - 12,002 34,024 - 5,085 28,939

The Medical Research Fund helps support a Medical Research Team at Newcastle Medical School.

The Family Support Fund provides financial assistance, if required, for the families of patients.

The Toys and Education Support Fund provides toys and equipment for patients who spend long periods of time on the ward. The toys and equipment are not transferable due to the risk of infection.

The Clinical Equipment Fund can be used for specific items of clinical equipment e.g. syringe pumps.

16. Designated Funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Medical research Overheads fund Medical research Overheads fund	Balance at 31 Mar 2021 New Designations Utilised Balance at 31 Mar 2022 £ £ £ £ - - - - 15,000 - - 15,000 15,000 - - 15,000
	Balance at 31 Mar 2020 New Designations Utilised Balance at 31 Mar 2021 £ £ £ £ - - - - 15,000 - - 15,000 15,000 - - 15,000

THE BUBBLE FOUNDATION UK

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

The Medical Research Fund helps support a medical research team at Newcastle Medical School.

The Overheads Fund has been set up by the trustees to cover overheads should there be a fall in income.

17. Analysis of Net Assets

Fund balances at 31 March 2022 as represented by: Current assets Current liabilities Fund balances at 31 March 2021 as represented by: Current assets Current liabilities	Unrestricted funds £ 601,032 (19,420) 581,612 Unrestricted funds £ 644,291 (39,631) 604,660	Restricted funds £ 14,302 - 14,302 Restricted funds £ 28,939 - 28,939	Total funds £ 615,334 (19,420) 595,914 Total funds £ 673,230 (39,631) 633,599

18. Reconciliation of net movements in funds to net cash flow from operating activities

Net (outgoing)/incoming movement in funds Interest receivable (Increase)/Decrease in debtors Increase/(Decrease) in creditors Net cash outflow from operating activities	2022 £ (37,685) (260) 435 (20,211) (57,721)	2021 £ 197,582 (521) (435) (6,618)
		190,008

19. Related party transactions

There have been no related party transactions in the reporting period which require disclosure.

20. Ultimate Controlling Party

The charity is governed by the Board of Trustees and is not under the control of any one individual.

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE BUBBLE FOUNDATION UK

I report to the trustees on my examination of the financial statements of The Bubble Foundation UK (‘the charity’) for the year ended 31 March 2022, which are set out on pages 14 to 24.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145 (5)(b) of the 2011 Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the financial statements present a ‘true and fair view’ and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect:

accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Signed: Lucy Robson Name: Lucy Robson Name of applicable listed body: The Institute of Chartered Accountants in England and Wales Relevant professional qualification or membership of professional body: Chartered Accountant

ON BEHALF OF RSM UK TAX AND ACCOUNTING LIMITED

Chartered Accountants 1 St James’ Gate Newcastle upon Tyne NE1 4AD

Date: 11/10/22