THE BUBBLE FOUNDATION UK UNAUDITED ANNUAL REPORT
FOR THE YEAR ENDED
31 MARCH 2023
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 2023
Contents Pages
| Charity Information | 2-3 |
|---|---|
| Report of the Trustees | 4-13 |
| Statement of Financial Activities | 14 |
| Balance Sheet | 15 |
| Statement of Cash Flows | 16 |
| Notes to the Financial Statements | 17-24 |
| Independent Examination Report | 25 |
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THE BUBBLE FOUNDATION UK
CHARITY INFORMATION AS AT 31 MARCH 2023
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
Honorary Consultant Paediatrician in Immunology & Infectious Diseases
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 (resigned from board 31.01.23)
P Simpson
I Brown
D Clark BA (Hons), Advertising and Design
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
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
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THE BUBBLE FOUNDATION UK
CHARITY INFORMATION AS AT 31 MARCH 2023
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
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THE BUBBLE FOUNDATION UK
TRUSTEES� REPORT FOR THE YEAR ENDED 31 MARCH 2023
The Trustees of The Bubble Foundation UK present their unaudited report for the year ended 31 March 2023.
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 (effective 1 January 2019) � Charities SORP (FRS102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
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 2023.
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:
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THE BUBBLE FOUNDATION UK
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
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a) sponsoring research into improving the understanding of immunological and infectious diseases in childhood and the finding of better forms of treatment;
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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;
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c) the raising of public awareness of immunological and infectious diseases in children;
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d) funding education and training for those fulfilling the objectives referred to above; and
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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:
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1 Research � we see the sponsoring of Research Programmes as an increasingly important part of our work.
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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.
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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.
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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.
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5 Staff training � we assist medical staff who need to go on specialist courses and attend conferences with fees, travel and subsistence.
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THE BUBBLE FOUNDATION UK
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
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:-
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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 led to the successful application to run a prospective clinical trial using this treatment.
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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
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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;
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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;
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The first successful UK transplant for Juvenile Idiopathic Arthritis, with further success since then;
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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
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Pioneering bone marrow transplantation to treat children with complex autoimmune diseases including IPEX syndrome;
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Ongoing discovery of new immunodeficiencies;
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Establishment of less toxic chemotherapy regimens to pre-treat transplant patients, with superior survival and better immune function;
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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;
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Development of conditioning protocols for the treatment of children with defective DNA repair and immunodeficiency, who previously had a very poor outcome following transplantation;
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Better ways to monitor the development of the new immune system after transplantation;
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Internationally recognised research into the long-term outcome of patients treated by mismatched transplantation;
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The identification of possible mechanisms of autoimmune disease in children with partial DiGeorge Syndrome;
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The identification of best treatment for children with complete DiGeorge Syndrome;
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The development of bone marrow transplantation for the rare immunodeficiencies, cartilage hair hypoplasia and leukocyte adhesion deficiency;
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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
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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
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.
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THE BUBBLE FOUNDATION UK
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
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 within protective isolation 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 inpatient 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, and 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, iPads and access to Sky television. The Play Team on the unit comprises of a Healthcare Play Specialist Team Leader, and three Nursery Nurses. The team work seven 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 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 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�
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Provide the safety, pleasure and the comfort of normal experiences within abnormal environments.
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Allow adjustment and gain control and mastery over self and potentially frightening environments.
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Allowing a child to regain a sense of skill and achievement, combating feelings of helplessness, loss of control and dependence of carers.
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Socialise, make friends with peers, gaining support through sharing experiences.
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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
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Keep alive thoughts and ideas of home and family life by encouraging memories and contact with home.
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Provide a mechanism to deal with fears, fantasies and emotions in the safety and security of familiar play.
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Reduce anxiety and increase coping abilities.
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Speed recovery and rehabilitation.
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Facilitate and encourage communication pathways and relationships.
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Prepare for hospitalisation and procedures.
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Allow clinical judgements through observation.
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Offer diversion techniques during the admission and during procedures.
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Prevent developmental regression or delay.
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Aid understanding of information, to facilitate the child�s choice and participation in their care and treatments.
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Provide fun entertainment and activity, deterring boredom.
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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.
The Journey Boxes
The foundation has supported the purchasing of the resources to provide the Journey Boxes project.
One great thing about a journey is the memories we collect along the way. The journey through Haematopoietic Stem Cell Transplant (HSCT) has similar challenges to endure, as well as individual patient experiences depending on their own treatment pathway.
Patients and families are so driven and focused on achieving the end result of recovery and discharge, they may not recognise or recall the smaller battles they have faced and conquered.
We recognised that internationally within Oncology services they had developed a strategy which allows patients and families to remember and tell their story, by acknowledging milestones they have achieved. Historically this resource was not available to the immunocompromised child undergoing a HSCT.
This has led us to develop our own method of recording, saving and storing the achievements of the children and young people, giving them something tangible to prompt their memory and tell their story. The milestones achieved are acknowledged with a symbolic token to represent the accomplishment, which then forms the contents and story of The Journey .
We found that The Journey box also offers positive coping strategies in facilitating the child to reflect and talk about their experience during and after transplant, but also offers so much more. For parents, the journey box is a valuable aid to discussion when their child is more able to understand, for young people, the box can store mementos of their journey through HSCT and for bereaved families, providing secure home for treasured memories.
Future Plans - potential wish list from the Play Service, to access the support of the foundation in the future:
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Keep alive thoughts and ideas of home and family life by encouraging memories and contact with home.
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Charity funded member of staff within the play service
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THE BUBBLE FOUNDATION UK
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
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The Bubble Activity Book � the Play Service has the ideas, need support with the design and printing
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Purchase from Sensory Guru � Magic Carpet
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Purchase a mobile sensory play tower
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Beads of Courage membership
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Replace exercise bike
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Purchase treadmill
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Refresh ward décor with a mural or wall stickers
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Update various Physiotherapy and Occupational Therapy resources, for example �U� shaped beanbag cushions, Tomato chair harnesses
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.
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THE BUBBLE FOUNDATION UK
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
FINANCIAL REVIEW
Net Income/Expenditure
This year has seen net outgoing resources of £38,820 (2022: outgoing resources of £37,685).
Income
Income for the year of £41,544 was up on last year's total of £40,574. Community fundraising which continues to be our main source of income decreased to £39,331 (2022: £40,314). Income from corporate donations remain at £nil (2022: £nil) which is disappointing but reflects the difficult trading conditions experienced by many companies. Income from Charitable Trusts was also £nil (2022: £nil).
Expenditure
Costs of generating voluntary income showed an increase from £5,832 in 2022 to £5,993 this year. Expenditure on charitable activities increased from £72,427 in 2022 to £74,371 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 £24,000.
The charity currently has free reserves of £529,453 (2022: £566,612), 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.
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THE BUBBLE FOUNDATION UK
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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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:
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THE BUBBLE FOUNDATION UK
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
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 2022 Fund balances at 31 March 2023 |
Unrestricted Funds 2023 Restricted Funds 2023 Total Funds 2023 Total Funds 2022 £ £ £ £ 39,331 - 39,331 40,314 2,213 - 2,213 260 |
|---|---|
| 41,544 - 41,544 40,574 |
|
| 5,993 - 5,993 5,832 - - - - 72,710 1,661 74,371 72,427 |
|
| 78,703 1,661 80,364 78,259 |
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| (37,159) (1,661) (38,820) (37,685) |
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| 581,612 14,302 595,914 633,599 |
|
| 544,453 12,641 557,094 595,914 |
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.
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THE BUBBLE FOUNDATION UK
BALANCE SHEET AS AT 31 MARCH 2023
| 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 |
2023 £ 329 - 76,054 517,965 594,348 (37,254) 557,094 529,453 15,000 12,641 557,094 |
2022 £ 329 - 99,254 515,751 |
|---|---|---|
| 615,334 (19,420) |
||
| 595,914 | ||
| 566,612 15,000 14,302 595,914 |
These financial statements were approved by the trustees on the and are signed on their behalf by:
Wilf Gaffney Trustee
The notes on pages 17 to 24 form part of these financial statements.
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THE BUBBLE FOUNDATION UK
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023
| Note Net cash flows from operating activities 18 Cash flows from investing activities Interest received Net cash provided by investing activities 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 |
2023 £ (23,199) 2,213 2,213 (20,986) 615,005 594,019 |
2022 £ (57,721) 260 |
|---|---|---|
| 260 | ||
| (57,461) 672,466 |
||
| 615,005 |
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THE BUBBLE FOUNDATION UK
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
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 reduced income forecast 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 16.
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.
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THE BUBBLE FOUNDATION UK
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
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.
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THE BUBBLE FOUNDATION UK
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
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 2022 total 3. Investment Income Bank interest receivable |
Unrestricted Restricted £ £ 39,331 - - - 39,331 - |
2023 2022 £ £ 39,331 40,314 - - 39,331 40,314 |
|---|---|---|
| 40,314 2023 2022 £ £ 2,213 260 |
||
| 40,314 - |
||
The investment income in 2023 and 2022 is unrestricted.
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THE BUBBLE FOUNDATION UK
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| 4. Cost of raising funds: Costs of Generating Voluntary Income 2023 2022 £ £ Office costs Institute of Fundraising subscription 380 92 582 92 Printing, Stationery and Postage 1,494 37 Website 254 220 Database Advertising Travel and subsistence 3,085 675 13 4,901 - - 5,993 5,832 The costs of generating voluntary income in 2023 and 2022 all related to unrestricted funds. 5. Costs of Generating Funds 2023 2022 £ £ 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 2023 and 2022 all related to unrestricted funds. 6. Expenditure on Charitable Activities Unrestricted Restricted 2023 2022 £ £ £ £ Research and support of children with immunodeficiencies Research 53,039 - 53,039 43,089 Parent and families support and welfare 5,571 1,661 7,232 2,999 Toys and educational equipment 10,198 - 10,198 9,130 Clinical Equipment 966 - 966 15,229 Staff Support 656 - 656 - Governance costs 2,280 - 2,280 1,980 72,710 1,661 74,371 72,427 2022 total 56,790 15,637 72,427 7. Governance Costs 2023 2022 £ £ Audit and accountancy 2,280 1,980 |
4. Cost of raising funds: Costs of Generating Voluntary Income 2023 2022 £ £ Office costs Institute of Fundraising subscription 380 92 582 92 Printing, Stationery and Postage 1,494 37 Website 254 220 Database Advertising Travel and subsistence 3,085 675 13 4,901 - - 5,993 5,832 The costs of generating voluntary income in 2023 and 2022 all related to unrestricted funds. 5. Costs of Generating Funds 2023 2022 £ £ 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 2023 and 2022 all related to unrestricted funds. 6. Expenditure on Charitable Activities Unrestricted Restricted 2023 2022 £ £ £ £ Research and support of children with immunodeficiencies Research 53,039 - 53,039 43,089 Parent and families support and welfare 5,571 1,661 7,232 2,999 Toys and educational equipment 10,198 - 10,198 9,130 Clinical Equipment 966 - 966 15,229 Staff Support 656 - 656 - Governance costs 2,280 - 2,280 1,980 72,710 1,661 74,371 72,427 2022 total 56,790 15,637 72,427 7. Governance Costs 2023 2022 £ £ Audit and accountancy 2,280 1,980 |
4. Cost of raising funds: Costs of Generating Voluntary Income 2023 2022 £ £ Office costs Institute of Fundraising subscription 380 92 582 92 Printing, Stationery and Postage 1,494 37 Website 254 220 Database Advertising Travel and subsistence 3,085 675 13 4,901 - - 5,993 5,832 The costs of generating voluntary income in 2023 and 2022 all related to unrestricted funds. 5. Costs of Generating Funds 2023 2022 £ £ 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 2023 and 2022 all related to unrestricted funds. 6. Expenditure on Charitable Activities Unrestricted Restricted 2023 2022 £ £ £ £ Research and support of children with immunodeficiencies Research 53,039 - 53,039 43,089 Parent and families support and welfare 5,571 1,661 7,232 2,999 Toys and educational equipment 10,198 - 10,198 9,130 Clinical Equipment 966 - 966 15,229 Staff Support 656 - 656 - Governance costs 2,280 - 2,280 1,980 72,710 1,661 74,371 72,427 2022 total 56,790 15,637 72,427 7. Governance Costs 2023 2022 £ £ Audit and accountancy 2,280 1,980 |
|---|---|---|
| 56,790 15,637 72,427 2023 2022 £ £ 2,280 1,980 |
||
| 2023 £ 2,280 |
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THE BUBBLE FOUNDATION UK
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| 8. Allocation of Support Costs Insurance Website development Personnel costs Telephone Printing/postage/stationery Office expenses Professional Database Office relocation Advertising Travel and subsistence |
Fundraising Costs Charitable Activity Governance Costs Total 2023 Total 2022 £ £ £ £ £ - 392 - 392 365 254 - - 254 220 - 19,692 - 19,692 19,692 - 623 - 623 675 1,494 380 32 499 - - 1,526 879 66 687 92 - 2,280 2,372 2,072 3,085 - 675 13 - 33 - - - - - - 3,085 33 675 13 4,901 3,004 - - 5,993 21,271 2,280 29,544 31,682 |
|---|---|
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 £ £ 37,022 - 37,022 - |
|---|---|
Of support costs included in note 8, £16,017 (2022: £18,761) relates to grant making activities.
Recipients of institutional grants:
| To fund higher education research posts: University of Newcastle 10. Staff Numbers and Emoluments 2023 £ Wages and salaries - |
2023 2022 £ 37,022 £ 24,328 37,022 24,328 |
|---|---|
| 2022 £ - |
The charity paid £19,692 (2022: £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 (2022: £nil).
Volunteer time - none
21
THE BUBBLE FOUNDATION UK
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
Particulars of Employees:
The average number of staff employed by the Charity during the financial year amounted to:
Number of staff
2023 2022 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 |
2023 £ 2,280 2023 £ - 2023 £ 34,952 2,302 37,254 |
2022 £ 1,980 |
|---|---|---|
| 2022 £ - 2022 £ 17,440 1,980 19,420 |
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THE BUBBLE FOUNDATION UK
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
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 2022 Income Expenditure Balance at 31 Mar 2023 £ £ £ £ 11,550 - - 11,550 2,752 - 1,661 1,091 - - - - - - - - |
|---|---|
| 14,302 - 1,661 12,641 |
|
| 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 |
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 2022 New Designations Utilised Balance at 31 Mar 2023 £ £ £ £ - - - - 15,000 - - 15,000 15,000 - - 15,000 |
|---|---|
| Balance at 31 Mar 2021 New Designations Utilised Balance at 31 Mar 2022 £ £ £ £ - - - - 15,000 - - 15,000 15,000 - - 15,000 |
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THE BUBBLE FOUNDATION UK
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
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 2023 as represented by: Current assets Current liabilities Fund balances at 31 March 2022 as represented by: Current assets Current liabilities |
Unrestricted funds £ 581,707 (37,254) 544,453 Unrestricted funds £ 601,032 (19,420) 581,612 |
Restricted funds £ 12,641 - 12,641 Restricted funds £ 14,302 - 14,302 |
Total funds £ 594,348 (37,254) 557,094 Total funds £ 615,334 (19,420) 595,914 |
|---|---|---|---|
18. Reconciliation of net movements in funds to net cash flow from operating activities
| Net outgoing movement in funds Interest receivable Decrease in debtors Increase/(Decrease) in creditors Net cash outflow from operating activities |
2023 £ (38,820) (2,213) - 17,834 (23,199) |
2022 £ (37,685) (260) 435 (20,211) |
|---|---|---|
| (57,721) |
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.
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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 2023, 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: 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:
25