## **THE BUBBLE FOUNDATION UK UNAUDITED ANNUAL REPORT**
## **FOR THE YEAR ENDED**
**31 MARCH 2024**
## **Charity Number: 1024552**
RSM UK Tax and Accounting Limited Davidson House, Forbury Square Reading Berkshire RG1 3EU
## **THE BUBBLE FOUNDATION UK**
## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **Contents Pages**
|**Contents Pages**||
|---|---|
|Charity Information|2-3|
|Report of the Trustees|4-11|
|Statement of Financial Activities|12|
|Balance Sheet|13|
|Statement of Cash Flows|14|
|Notes to the Financial Statements|15-22|
|Independent Examination Report|23|
1
## **THE BUBBLE FOUNDATION UK**
## **CHARITY INFORMATION AS AT 31 MARCH 2024**
**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 (resigned from board 01.01.24)
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
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
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
2
## **THE BUBBLE FOUNDATION UK**
## **CHARITY INFORMATION AS AT 31 MARCH 2024**
## **ADVISERS**
## **INDEPENDENT EXAMINER**
RSM UK Tax and Accounting Limited Davidson House, Forbury Square Reading Berkshire RG1 3EU
## **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
3
## **THE BUBBLE FOUNDATION UK**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024**
The Trustees of The Bubble Foundation UK present their unaudited report for the year ended 31 March 2024.
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.
4
**THE BUBBLE FOUNDATION UK**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
## **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:
- 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.
- 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.
5
## **THE BUBBLE FOUNDATION UK**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
## **HOW OUR ACTIVITIES DELIVER PUBLIC BENEFIT**
## **Research**
The Bubble Foundation continues to fund research programmes that are focused upon increasing knowledge about types of immune deficient conditions and improving individual treatment of patients and their survival rates. During the pandemic, much of this had slowed down, but is beginning to pick up again.
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, was investigating this with a laboratory-based project. Initial results confirm preliminary clinical observations and the results will likely lead to a better understanding of the complication, and development of a new treatment and improved survival. Dr Laberko has now finished, and gained her PhD, but the final piece of work is continuing before we publish the results.
Recent clinical research conducted by the unit has led to:-
- 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. The work is being extended by looking at how signals between immune cells are able to effect the changes that ECP delivers – whilst this work was not funded by the Bubble Foundation, it leads on directly from the previous study and is using the same biological samples – without initial Bubble Foundation funding, it would not have been possible.
- The largest study in the UK investigating the health of patients with X-linked agammaglobulinaemia. Results have been combined with a similar study from patients in Hong Kong, and publication is in progress. The headline finding suggests that current treatment inevitably leads to permanent lung damage, and new treatments may need to be considered. Over 20 patients worldwide have now been transplanted for this condition, leading to cure of the disease, and starting a debate about the best approach to treatment in the future.
This study is just published, and is starting an international debate, in part using our transplant results data, on how and when to initiate curative treatment for this disease.
- Ground breaking results using stem cells with small doses of activated T cells added to clear viral infection to treat patients. This has widened the application of transplant to patients previously without donors. This pilot study has led to the successful Medical Research Council grant application to run a 5 year prospective clinical trial using this treatment.
This study has now opened and we have recruited the first patients.
Current funding is supporting a PhD fellow, Steve Bolton, who is looking at the immune reactions in lungs post-transplant as part of a Medical Research Council funded project.
6
## **THE BUBBLE FOUNDATION UK**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
The funding of Kathryn Poad, a research nurse, for 5 years has commenced. Kath is helping run the MRC clinical trial, but will also be able to help with commercial studies which will enable continued funding of her post. The hospital trust has agreed to continue funding her post once the Bubble Foundation funding has finished. The Bubble Foundation has also just funded a further research nursing post to expand our clinical research portfolio.
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.
## **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 recent appointment of our new fundraising manager will improve this situation.
## **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.
## **Staff Training**
We continue to offer to provide assistance to doctors and nurses to enable them to attend international conferences, but have not been required to fund any participants this year.
## **Family Support**
We continue to provide financial assistance for families in emergencies.
7
## **THE BUBBLE FOUNDATION UK**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
## **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…
- Provide the safety, pleasure and the 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.
- Reduce anxiety and increase coping abilities.
- Speed recovery and rehabilitation.
- Facilitate and encourage communication pathways and relationships.
- 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
8
## **THE BUBBLE FOUNDATION UK**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
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:**
- Charity funded member of staff within the play service
- The Bubble Activity Book – the Play Service has the ideas, need support with the design and printing
- Purchase from Sensory Guru – Magic Carpet
- Purchase a mobile sensory play tower
- Beads of Courage membership
- Replace exercise bike
- Purchase treadmill
- Refresh ward décor with a mural or wall stickers
- Update various Physiotherapy and Occupational Therapy resources, for example “U” shaped beanbag cushions, Tomato chair harnesses
## **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.
9
**THE BUBBLE FOUNDATION UK**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
## **FINANCIAL REVIEW**
## **Net Income/Expenditure**
This year has seen net outgoing resources of £75,191 (2023: outgoing resources of £38,820).
## **Income**
Income for the year of £80,974 was up on last year's total of £41,544. Community fundraising which continues to be our main source of income increased to £72,766 (2023: £39,331). Income from corporate donations remain at £nil (2023: £nil) which is disappointing but reflects the difficult trading conditions experienced by many companies. Income from Charitable Trusts was also £nil (2023: £nil).
## **Expenditure**
Costs of generating voluntary income showed an increase from £5,993 in 2023 to £8,479 this year. Expenditure on charitable activities increased from £74,371 in 2023 to £147,686 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 £454,262 (2023: £529,453), 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.
10
THE BUBBLE FOUNDATION UK
REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
Trustees, Responslbllltles
The Trustees are responsible for preparing the Trustees, Annual Report and the financial statements
in accordance with applicable law and United Kingdom Accounting Standards (Unlted Klngdom
Generally Accepted Accounting Practice).
The law applicable to charitles 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 Gharity
and of the incoming reSoUrS and application of resources, including the Income and expenditure, of
the charlty for that period. In preparing these financial statements, the Trustees are requlred to:
select sultable accounting policies and then apply them consistently.,
observe the methods and principles in Ihe Charities SORP.
make judgements and estirnates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subjecl to any
material departures dlsclosed and explalned In the financial statements;
prepare the financial statements on the golng concem basis unless it is inappropriate to
presume that the Gharlty will conllnue In business.
The Trustees are re5pon5ible for keeping proper accounting records that disclose wlth reasonable
accuracy at any time the financial position of the charity and enable them to ensure that the financial
statements compty with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008
and the provisions of the Irust deed. They are also responslble for safeguarding the assets of the
charily and hence for taking reasonable steps for the preventlon and deteclion of fraud and other
Iriegularitles.
Signed on behalf of the Board of Trustees.
Date:
ifyllJ
203>.
## **THE BUBBLE FOUNDATION UK**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024**
## **INCOME AND EXPENDITURE**
|**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
**Expenditure on Charitable Activities:**
Research and support of children
with immunodeficiencies
6
Total resources expended
**Net movement in funds**
Fund balances at 31 March 2023
Fund balances at 31 March 2024|Unrestricted
Funds 2024
Restricted
Funds 2024
Total Funds
2024
Total Funds
2023
£
£
£
£
72,766
-
72,766
39,331
8,208
-
8,208
2,213|
||80,974
-
80,974
41,544|
||8,479
-
8,479
5,993
147,686
-
147,686
74,371|
||156,165
-
156,165
80,364|
||(75,191)
-
(75,191)
(38,820)|
||544,453
12,641
557,094
595,914|
||469,262
12,641
481,903
557,094|
## Continuing Operations
None of the charity’s activities were acquired or discontinued during the above two financial years.
The notes on pages 15 to 22 form part of these financial statements.
12
THE BUBBLE FOUNDATION UK
Charlty No. 1024552
BALANCE SHEEf AS AT 31 MARCH 2024
Note
2024
2023
CURRENT ASSETS
Trading Stock
Bank Accounts
Deposit Accounts
329
30.808
496,150
527,287
329
76,054
517.965
594,348
CREDITORS:
Amount5 falling due within one year
12
{45,384)
(37,254)
NET CURRENT ASSErs
481903
557 094
FUNDS
Unrestrlcted Funds
General
Designated
Restrlcted Funds
15
14,15
13
454,262
15,000
529,453
15,000
12,641
557,094
481,903
These financial state
behalf by:
ents were approved by the trustees on the IWI I | kn and are signed on thelr
Andrew
Trustee
ant
The notes on pages 15 to 22 form part of these financial statements.
13
## **THE BUBBLE FOUNDATION UK**
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024**
|**Note**
**Net cash flows from operating activities**
16
**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**|**2024**
**£**
(75,269)
8,208
8,208
(67,061)
594,019
526,958|**2023**
**£**
(23,199)
2,213|
|---|---|---|
|||2,213|
|||(20,986)
615,005|
|||594,019|
14
## **THE BUBBLE FOUNDATION UK**
## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **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 principal 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.
15
## **THE BUBBLE FOUNDATION UK**
## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **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.
16
## **THE BUBBLE FOUNDATION UK**
## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **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, the Trustees do not consider that there are any critical estimates or areas of judgement that need to be brought to the attention of the readers of the financial statements.
|**2. Income from donations and**
**legacies**
Community donations and
sponsorships
2023 total
**3. Investment Income**
Bank interest receivable|
**Unrestricted**
**Restricted**
**£**
**£**
72,766
-|**2024**
**2023**
**£**
**£**
72,766
39,331|
|---|---|---|
||72,766
-|72,766
39,331|
|||39,331
**2024**
**2023**
**£**
**£**|
||39,331
-||
||||
|||8,208
2,213|
The investment income in 2024 and 2023 is unrestricted.
|**4. Cost of raising funds: Costs of Generating**
**Voluntary Income**
Office costs
Institute of Fundraising subscription
Printing, stationery and postage
Website
Database
Advertising
Event support
Travel, subsistence and hospitality
Communications renewal|
**2024**
**£**
236
99
66
301
3,377
-
523
507
3,370
8,479|**2023**
**£**
380
92
1,494
254
3,085
675
-
13
-|
|---|---|---|
|||5,993|
The costs of generating voluntary income in 2024 and 2023 all related to unrestricted funds.
17
## **THE BUBBLE FOUNDATION UK**
## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
|**5. Costs of Generating Funds**
**2024**
**2023**
**£**
**£**
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 2024 and 2023 all related to unrestricted funds.
**6. Expenditure on Charitable Activities**
**Unrestricted Restricted**
**2024**
**2023**
**£**
**£**
**£**
**£**
_Research and support of children with_
_immunodeficiencies_
Research
133,262
-
133,262
53,039
Parent and families support and welfare
2,663
-
2,663
7,232
Toys and educational equipment
8,995
-
8,995
10,198
Clinical Equipment
246
-
246
966
Staff Support
-
-
-
656
Governance costs (note 7)
2,520
-
2,520
2,280
147,686
-
147,686
74,371
2023 total
72,710
1,661
74,371
**7. Governance Costs**
**2024**
**2023**
**£**
**£**
Audit and accountancy
2,520
2,280
**8. Allocation of Support Costs**
**Fundraising**
**Costs**
**Charitable**
**Activity**
**Governance**
**Costs**
**Total**
**2024**
**Total**
**2023**
**£**
**£**
**£**
**£**
**£**
Insurance
-
426
-
426
392
Website development
301
-
-
301
254
Personnel costs
-
19,692
-
19,692
19,692
Telephone
-
643
-
643
623
Printing/postage/stationery
Office expenses
66
236
29
565
-
-
95
801
1,526
879
Professional
Event support
99
523
-
-
2,520
-
2,619
523
2,372
-
Database
Office relocation
Advertising
Travel/subsistence/hospitality
Communications renewal
3,377
-
-
507
3,370
-
-
-
-
-
-
-
-
-
-
3,377
-
-
507
3,370
3,085
33
675
13
-
8,479
21,355
2,520
32,354
29,544|**5. Costs of Generating Funds**
**2024**
**2023**
**£**
**£**
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 2024 and 2023 all related to unrestricted funds.
**6. Expenditure on Charitable Activities**
**Unrestricted Restricted**
**2024**
**2023**
**£**
**£**
**£**
**£**
_Research and support of children with_
_immunodeficiencies_
Research
133,262
-
133,262
53,039
Parent and families support and welfare
2,663
-
2,663
7,232
Toys and educational equipment
8,995
-
8,995
10,198
Clinical Equipment
246
-
246
966
Staff Support
-
-
-
656
Governance costs (note 7)
2,520
-
2,520
2,280
147,686
-
147,686
74,371
2023 total
72,710
1,661
74,371
**7. Governance Costs**
**2024**
**2023**
**£**
**£**
Audit and accountancy
2,520
2,280
**8. Allocation of Support Costs**
**Fundraising**
**Costs**
**Charitable**
**Activity**
**Governance**
**Costs**
**Total**
**2024**
**Total**
**2023**
**£**
**£**
**£**
**£**
**£**
Insurance
-
426
-
426
392
Website development
301
-
-
301
254
Personnel costs
-
19,692
-
19,692
19,692
Telephone
-
643
-
643
623
Printing/postage/stationery
Office expenses
66
236
29
565
-
-
95
801
1,526
879
Professional
Event support
99
523
-
-
2,520
-
2,619
523
2,372
-
Database
Office relocation
Advertising
Travel/subsistence/hospitality
Communications renewal
3,377
-
-
507
3,370
-
-
-
-
-
-
-
-
-
-
3,377
-
-
507
3,370
3,085
33
675
13
-
8,479
21,355
2,520
32,354
29,544|**5. Costs of Generating Funds**
**2024**
**2023**
**£**
**£**
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 2024 and 2023 all related to unrestricted funds.
**6. Expenditure on Charitable Activities**
**Unrestricted Restricted**
**2024**
**2023**
**£**
**£**
**£**
**£**
_Research and support of children with_
_immunodeficiencies_
Research
133,262
-
133,262
53,039
Parent and families support and welfare
2,663
-
2,663
7,232
Toys and educational equipment
8,995
-
8,995
10,198
Clinical Equipment
246
-
246
966
Staff Support
-
-
-
656
Governance costs (note 7)
2,520
-
2,520
2,280
147,686
-
147,686
74,371
2023 total
72,710
1,661
74,371
**7. Governance Costs**
**2024**
**2023**
**£**
**£**
Audit and accountancy
2,520
2,280
**8. Allocation of Support Costs**
**Fundraising**
**Costs**
**Charitable**
**Activity**
**Governance**
**Costs**
**Total**
**2024**
**Total**
**2023**
**£**
**£**
**£**
**£**
**£**
Insurance
-
426
-
426
392
Website development
301
-
-
301
254
Personnel costs
-
19,692
-
19,692
19,692
Telephone
-
643
-
643
623
Printing/postage/stationery
Office expenses
66
236
29
565
-
-
95
801
1,526
879
Professional
Event support
99
523
-
-
2,520
-
2,619
523
2,372
-
Database
Office relocation
Advertising
Travel/subsistence/hospitality
Communications renewal
3,377
-
-
507
3,370
-
-
-
-
-
-
-
-
-
-
3,377
-
-
507
3,370
3,085
33
675
13
-
8,479
21,355
2,520
32,354
29,544|
|---|---|---|
||8,479
21,355
2,520|
32,354
29,544|
18
## **THE BUBBLE FOUNDATION UK**
## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
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**
**£**
**£**
113,658
-|
|---|---|
||113,658
-|
Of support costs included in note 8, £19,604 (2023: £16,017) relates to grant making activities.
|**Recipients of institutional grants:**|**2024**
**2023**
**£**
113.658
**£**
37,022|
|---|---|
||113.658
37,022|
To fund higher education research posts: University of Newcastle
|**10. Staff Numbers and Emoluments**|**2024**|**2023**|
|---|---|---|
||**£**|**£**|
|Wages and salaries|-|-|
|The charity paid £19,692 (2023: £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|
The charity paid £19,692 (2023: £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.
No remuneration was paid to key management personnel during the year (2023: £nil). Volunteer time - none
## **Particulars of Employees:**
The average number of staff employed by the Charity during the financial year amounted to:
||**2024**|**2023**|
|---|---|---|
|Number of staff|1|1|
## **11. Trustees’ Remuneration**
Trustees received no remuneration and were not reimbursed for any of their expenses in the year (2023: £nil).
19
## **THE BUBBLE FOUNDATION UK**
## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
|**12. Creditors: Amount falling due within one year**
Trade creditors
Other creditors|**2024**
**£**
39,487
5,897
45,384|**2023**
**£**
34,952
2,302|
|---|---|---|
|||37,254|
## **13. Restricted Funds**
The income funds of the charity include the following restricted funds which have been donated for specific purposes:
|Medical research
Family Support
Medical research
Family Support|**Balance at**
**31 Mar 2023**
**Income Expenditure Balance at**
**31 Mar 2024**
**£**
**£**
**£**
**£**
11,550
-
-
11,550
1,091
-
-
1,091|
|---|---|
||12,641
-
-
12,641|
||**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|
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.
20
**NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **THE BUBBLE FOUNDATION UK**
## **14. Unrestricted 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:
|General funds
Designated Overheads fund
General funds
Designated Overheads fund|**Balance at**
**31 Mar 2023**
**Income Expenditure**
**Balance at**
**31 Mar 2024**
**£**
**£**
**£**
**£**
529,453
80,974
(156,165)
454,262
15,000
-
-
15,000|
|---|---|
||544,453
80,974
(156,165)
469,262|
||**Balance at**
**31 Mar 2022**
**Income Expenditure**
**Balance at**
**31 Mar 2023**
**£**
**£**
**£**
**£**
566,612
41,544
(78,703)
529,453
15,000
-
-
15,000|
||581,612
41,544
(78,703)
544,453|
The Overheads Fund has been set up by the trustees to cover overheads should there be a fall in income.
## **15. Analysis of Net Assets**
|
Fund balances at 31 March 2024 as
represented by:
Current assets
Current liabilities
Fund balances at 31 March 2023 as
represented by:
Current assets
Current liabilities|**Unrestricted**
**funds**
**£**
514,646
(45,384)
469,262
**Unrestricted**
**funds**
**£**
581,707
(37,254)
544,453|**Restricted**
**funds**
**£**
12,641
-
12,641
**Restricted**
**funds**
**£**
12,641
-
12,641|**Total**
**funds**
**£**
527,287
(45,384)
481,903
**Total**
**funds**
**£**
594,348
(37,254)
557,094|
|---|---|---|---|
21
## **THE BUBBLE FOUNDATION UK**
## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **16. Reconciliation of net movements in funds to net cash flow from operating activities**
|Net outgoing movement in funds
Interest receivable
Increase in creditors
Net cash outflow from operating activities|**2024**
**£**
(75,191)
(8,208)
8,130
(75,269)|**2023**
**£**
(38,820)
(2,213)
17,834|
|---|---|---|
|||(23,199)|
## **17. Related party transactions**
There have been no related party transactions in the reporting period which require disclosure.
## **18. Ultimate Controlling Party**
The charity is governed by the Board of Trustees and is not under the control of any one individual.
22
## **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 2024, 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:
1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
2. the financial statements do not accord with those records; or
3. 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: Kerry Gallagher Name: Kerry Gallagher 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 Davidson House, Forbury Square Reading Berkshire RG1 3EU
> Date: 15/01/25
23