REGISTERED COMPANY NUMBER: 03334552 (England and Wales) REGISTERED CHARITY NUMBER: 1062236
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2024
for
Lady McAdden Breast Cancer Trust
Butlers Chartered Accountants 1434 London Road Leigh on Sea Essex SS9 2UL
Lady McAdden Breast Cancer Trust
Contents of the Financial Statements for the Year Ended 31 March 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 5 |
| Independent Examiner's Report | 6 | ||
| Statement of Financial Activities | 7 | ||
| Balance Sheet | 8 | to | 9 |
| Notes to the Financial Statements | 10 | to | 17 |
| Detailed Statement of Financial Activities | 18 | to | 19 |
Lady McAdden Breast Cancer Trust
Report of the Trustees for the Year Ended 31 March 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the charity are to preserve and promote the good health of the female population through advice, education and awareness.
Significant activities
The significant activities of the charity in the year were:
Self referred nurse appointments for Breast Awareness:
The trusts Breast Awareness appointments with a specialist nurse are currently the only self referral service available in the UK (via face to face or video call) and this has enabled women of all ages but especially younger women to access information and advice not available to them before.
Breast cancer awareness - "Check yourself" Campaign:
The charity operates a text reminder service which goes out to subscribers to remind them to perform monthly checks of their breasts for any changes.
Nurse support for woman facing treatment:
Our nurses are also providing ongoing support to a wide range of women who may be undergoing treatment or have other concerns.
Advocacy for women to obtain fast track GP appointments:
Due to the strains on the NHS many women who are unable to get doctor's appointments are accessing our nurses to get reassurance about breast pain concerns or changes they have noticed. Due to the relationships, we have built over the last few years with a wide range of GPs, if there is a concern our nurses have been able to get an appointment, often on the same day, for these concerns to be followed up.
Outreach nurse clinics:
The trust has made appointments more accessible by holding face to face sessions in community venues, something which is to be continued and developed over the coming years. We are also developing a corporate, community and schools programme where nurses or trained members of staff give breast awareness talks to groups of women, explaining the importance of breast health
Awareness outreach work:
The trust actively performs awareness work to promote information which will assist women in early detection of breast cancer. This service is vital in the fight against breast cancer survival as national figures showing that 42% of women who are newly diagnosed, find changes themselves and the earlier symptoms are detected the better the outcomes. Coupled with the fact 46% of women admit to not checking themselves, giving confidence to women to know how to check themselves correctly and what to look for is a significant part of our work.
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Lady McAdden Breast Cancer Trust
Report of the Trustees for the Year Ended 31 March 2024
OBJECTIVES AND ACTIVITIES
Public benefit
The Trustees have reviewed the public benefit the charity provides in line with guidance from the Charity Commission and is satisfied the charity provides due benefit to the public to continue operation.
The trustees are grateful for the continued generous support of all of its benefactors and of donations from the general public, which are essential for the charity's continued survival. Special mention must be made of the trustees' gratitude to all members of staff and volunteers. Without their support and hard work, the charity could not function so successfully or remain at the forefront of breast cancer detection and health education within the community.
ACHIEVEMENT AND PERFORMANCE
During the period under review the charity has performed the following:
804 Day Time Appointments delivered, increased from 441 appointments in 2023. 205 Evening Appointments delivered, increased from 113 appointments in 2023.
175 new people are subscribed to our free text reminder service. During the year, unfortunately 5 people have been diagnosed with a cancer diagnosis within this time period. Currently we are supporting one of these ladies through their diagnosis.
42 events were attended to present awareness talks with the community.
1000 people attended the "Selfie on Sea" project which involved a large empty shop unit in the Royals Shopping Centre being converted into 12 selfie stations for the enjoyment of the community whilst performing outreach work.
90 women attended an International Women's day "Ladies that lunch" event with Gillian Mullane OBE as guest speaker whilst we promoted the services of the charity.
FINANCIAL REVIEW
Principal funding sources
The charity obtains it's funding from the following principle sources:
Tilbury charity shop:
The Tilbury shop income remains a significant part of the trust's income, which has been further enhanced with the introduction of the community bra bins. The trustees and grateful to the shop management, staff and volunteers for their dedication and hard work year after year which provides a solid foundation to allow the trust to continue its work.
There are now over 40 bra bins across the Essex area. Each bin averages 150 bras, which has the potential to generate an income of £60 per bin when sold at the charity shop. The bins vary from location to location as to how often they need emptying and collecting. Not only are the bins producing a valuable income, they are also raising awareness of the trust in new areas.
Pop up evening dress shop:
Donated prom, evening and wedding dresses were sold in a pop up dress shop at the Royals Shopping Centre, Southend.
Fundraising events:
A variety of community fundraising events contribute a growing amount of funds to the trust's income. As always, the support of volunteers continues to be invaluable in raising much needed funds.
The trust relies on donations by individuals, companies, grants and a wide range of other fund raising activities by individuals.
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Lady McAdden Breast Cancer Trust
Report of the Trustees for the Year Ended 31 March 2024
FINANCIAL REVIEW
Investment policy and objectives
Under the Memorandum and Articles of Association, the trustees have discretion to make investments on behalf of the charity that they consider to be appropriate.
The trustees have regard to the liquidity requirements of operating the trust and to the reserves policy in formulating the charity's investment policy. The charity is investing available funds in interest bearing deposit accounts and 2 one year interest bearing bonds offering some opportunity to earn interest on our deposits.
Reserves policy
The trustees have established a policy whereby unrestricted funds not committed or invested in tangible fixed assets (the "free reserves") held by the charity should be six months of the resources expended. At this level the trustees are of the opinion that they would be able to continue the current activities of the charity in the event of a significant reduction in funding until replacement funding could be obtained or, if this is not sustainable, to enable the trustees to manage the requisite changes in the service provided.
In addition, the trustees have signed-off a new Business Plan which will see Lady McAdden develop the services it provides, extending its support to those diagnosed with breast cancer and those in remission, in addition to the awareness raising services it currently provides. Our vision is to create a physical location of exceptional quality where a range of supportive offerings will be located (such as wig fitting, bra fitting, complementary therapies, counselling, coffee, exercise and facilities for hire).
At the end of the financial period the charity had reserves which satisifed the reserves policy of the charity.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
As set out in the Articles of Association, no person shall be appointed a trustee of the charity unless the application for appointment is approved by the existing trustees. The trustees shall consist of not less than three but not more than ten persons. As at March 2024 there are therefore currently vacancies on the Board. A trustee serves for a period of four years, after which time the trustee may apply for renewal of appointment.
During recruitment of trustees a skills review is completed to ensure a representative skill base is achieved, as far as possible, and that potential trustees are aware of the charity's objectives and legal requirements. Remuneration of key management personnel
The remuneration of management personnel is at the discretion of the trustees and is now considered taking into account the charity's finances and inflation.
Organisational structure
The Trustees have appointed a qualified Chief Executive, Esther Taylor to delegate the day to day operational function of the charity.
Wider network
The charity is not part of a wider network of charities nor a member of any umbrella group. There has been much work done to develop contact with GPs, local hospitals and Centres of Excellence. The charity is always receptive to joint working partnerships within health-related fields. It is also proud of the connections established with local businesses, community groups and retail sector.
Related parties
The charity has no subsidiaries or related parties, other than the trustees and does not pursue its charitable objects in co-operation or partnership with any other organisation.
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Lady McAdden Breast Cancer Trust
Report of the Trustees for the Year Ended 31 March 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Principle risks to the charity are those of:
Litigation risk:
Indemnity insurance policies are in place covering third party risks, trustees' and officers' indemnity and infidelity, medical malpractice, and with specific insurance to cover the charity's fundraising events, including the shop.
Financial fraud risk:
Continuous reviews are undertaken of the systems and practices which are designed to minimise any potential risks, including those relating to the authorisation of transactions, and projects by appropriate individuals and the timely and comprehensive recording of all income and other financial transactions.
The trustees are responsible for the charity's general strategy and policy matters. The business managers, who have designated authority to commit sums of up to £500 provided they are within the charity's objectives, are responsible for the day to day running of the unit and the finance manager is responsible for the charity's financial matters. They report to the trustees, who meet regularly to ensure the satisfactory management of the charity's affairs.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
03334552 (England and Wales)
Registered Charity number
1062236
Registered office
The Lady McAdden Centre 203 Elmsleigh Drive Leigh on Sea Essex SS9 4JH
Trustees
Mrs J L Jones A Kirkman Mrs L Marston Mrs C L Nichols Mrs C Wyatt (appointed 6.5.2023) W Moss (appointed 1.4.2023) (resigned 28.2.2024)
Independent Examiner
Butlers Chartered Accountants 1434 London Road Leigh on Sea Essex SS9 2UL
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Lady McAdden Breast Cancer Trust
Report of the Trustees for the Year Ended 31 March 2024
REFERENCE AND ADMINISTRATIVE DETAILS Advisers Bankers :
CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
Lloyds Bank plc 25 Gresham Street London EC2V 7HN
Barclays Bank plc 1 Churchill Place London E14 5HP
Metro Bank One Southampton Row, London WC1B 5HA
Scottish Widows Bank plc 67 Morrison Street Edinburgh EH3 8YJ
Approved by order of the board of trustees on 23 November 2024 and signed on its behalf by:
Mrs C L Nichols - Trustee
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Independent Examiner's Report to the Trustees of Lady McAdden Breast Cancer Trust
Independent examiner's report to the trustees of Lady McAdden Breast Cancer Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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 accounts to be reached.
Butlers Chartered Accountants provided a mechanical book-keeping services for the charity during the year, which is separable in staffing from the independent examination. The FRC's Revised Ethical Standard hsd been followed in respect of this assignment.
Hayley Meagher FCA The Institute of Chartered Accountants in England and Wales
Butlers Chartered Accountants 1434 London Road Leigh on Sea Essex SS9 2UL
23 November 2024
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Lady McAdden Breast Cancer Trust
Statement of Financial Activities for the Year Ended 31 March 2024
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 114,750 Charitable activities General - Other trading activities 2 197,529 Investment income 3 5,074 Other income - Total 317,353 EXPENDITURE ON Raising funds 115,788 Charitable activities General 138,094 Total 253,882 NET INCOME/(EXPENDITURE) 63,471 RECONCILIATION OF FUNDS Total funds brought forward 605,769 TOTAL FUNDS CARRIED FORWARD 669,240 |
Restricted funds £ - - - - - - - 1,619 1,619 (1,619) 1,619 - |
31.3.24 Total funds as £ 114,750 - 197,529 5,074 - 317,353 115,788 139,713 255,501 61,852 607,388 669,240 |
31.3.23 Total funds restated £ 24,205 7,720 185,146 450 238 217,759 79,668 143,099 222,767 (5,008) 612,294 607,286 |
|---|---|---|---|
The notes form part of these financial statements
Page 7
Lady McAdden Breast Cancer Trust
Balance Sheet 31 March 2024
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 9 326,698 CURRENT ASSETS Debtors 10 3,247 Cash at bank and in hand 347,818 351,065 CREDITORS Amounts falling due within one year 11 (8,523) NET CURRENT ASSETS 342,542 TOTAL ASSETS LESS CURRENT LIABILITIES 669,240 NET ASSETS 669,240 FUNDS 12 Unrestricted funds: General fund Designated Property Ownership Fund Designated Building Improvement Fund Designated Charity Shop Expansion Fund Designated Service Development Fund Restricted funds TOTAL FUNDS |
Restricted funds £ - - - - - - - - |
31.3.24 Total funds as £ 326,698 3,247 347,818 351,065 (8,523) 342,542 669,240 669,240 174,240 325,000 20,000 70,000 80,000 669,240 - 669,240 |
31.3.23 Total funds restated £ 319,015 12,160 282,666 294,826 (6,555) 288,271 607,286 607,286 605,364 - - - - 605,364 1,922 607,286 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
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Lady McAdden Breast Cancer Trust
Balance Sheet - continued 31 March 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 23 November 2024 and were signed on its behalf by:
C L Nichols - Trustee
C Wyatt - Trustee
The notes form part of these financial statements
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Lady McAdden Breast Cancer Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - in accordance with the property Fixtures and fittings - 25% on reducing balance Computer equipment - 25% on reducing balance
Freehold property is held on a fair value basis since 1st April 2024 which was a change from the previous policy of historic cost less depreciation.
The property will be valued every three years by a competent valuer.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
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Lady McAdden Breast Cancer Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
2. OTHER TRADING ACTIVITIES
| Fundraising events Shop income Ebay income Pop up Shop income 3. INVESTMENT INCOME Rents received Deposit account interest 4. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
31.3.24 a £ 47,270 144,892 - 5,367 197,529 31.3.24 a £ 2,325 2,749 5,074 31.3.24 a £ 566 |
31.3.23 s restated £ 17,711 140,174 951 26,310 185,146 31.3.23 s restated £ - 450 450 31.3.23 s restated £ 10,828 |
|---|---|---|
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Charitable delivery Nursing Fundraising/shop trading |
31.3.24 a 3 4 5 12 |
31.3.23 s restated 3 4 5 12 |
|---|---|---|
No employees received emoluments in excess of £60,000.
continued...
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Lady McAdden Breast Cancer Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
| 7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 11,836 Charitable activities General 7,720 Other trading activities 185,146 Investment income 450 Other income - Total 205,152 EXPENDITURE ON Raising funds 74,668 Charitable activities General 136,740 Total 211,408 NET INCOME/(EXPENDITURE) (6,256) RECONCILIATION OF FUNDS Total funds brought forward 611,620 TOTAL FUNDS CARRIED FORWARD 605,364 |
Restricted funds as £ 12,369 - - - 238 12,607 5,000 6,359 11,359 1,248 674 1,922 |
Total funds restated £ 24,205 7,720 185,146 450 238 217,759 79,668 143,099 222,767 (5,008) 612,294 607,286 |
|---|---|---|
8. PRIOR YEAR ADJUSTMENT
A prior year adjustment was made for the reclassification of land and buildings in the financial statements to 31st March 2023.
Previous sets of financial statements classified the property as long leasehold, when in fact the property is owned freehold. Disclosures have been changed in this respect, however do not create any changes to the published SOFA.
continued...
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Lady McAdden Breast Cancer Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
9. TANGIBLE FIXED ASSETS
| COST OR VALUATION At 1 April 2023 Impairments At 31 March 2024 DEPRECIATION At 1 April 2023 Charge for year Revaluation adjustments At 31 March 2024 NET BOOK VALUE At 31 March 2024 At 31 March 2023 |
Freehold property £ 377,189 (52,189) 325,000 60,438 - (60,438) - 325,000 316,751 |
Fixtures and fittings £ 39,515 - 39,515 37,251 566 - 37,817 1,698 2,264 |
Computer equipment £ 15,500 - 15,500 15,500 - - 15,500 - - |
Totals £ 432,204 (52,189) 380,015 113,189 566 (60,438) 53,317 326,698 319,015 |
|---|---|---|---|---|
Included in cost or valuation of land and buildings is freehold land of £75,000 which is not depreciated.
Cost or valuation at 31 March 2024 is represented by:
| Valuation in 2024 Cost |
Freehold property £ (52,189) 377,189 325,000 |
Fixtures and fittings £ - 39,515 39,515 |
Computer equipment £ - 15,500 15,500 |
Totals £ (52,189) 432,204 380,015 |
|---|---|---|---|---|
If Freehold land and buildings had not been revalued it would have been included at the following historical cost:
| Cost Aggregate depreciation Value of land in freehold land and buildings |
31.3.24 a £ 377,189 - 75,000 |
31.3.23 s restated £ 377,189 60,438 75,000 |
|---|---|---|
Freehold land and buildings were valued on an open market basis on 31 March 2024 by estate agents.
continued...
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Lady McAdden Breast Cancer Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Prepayments and accrued income 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes Other creditors Accrued expenses 12. MOVEMENT IN FUNDS Net movement At 1.4.23 in funds £ £ Unrestricted funds General fund 605,769 55,222 Designated Property Ownership Fund - 8,249 Designated Building Improvement Fund - - Designated Charity Shop Expansion Fund - - Designated Service Development Fund - - 605,769 63,471 Restricted funds Gannett Foundation 1,619 (1,619) TOTAL FUNDS 607,388 61,852 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 317,353 Designated Property Ownership Fund - 317,353 Restricted funds Gannett Foundation - TOTAL FUNDS 317,353 |
31.3.24 31.3.23 as restated £ £ - 2,101 3,247 10,059 3,247 12,160 31.3.24 31.3.23 as restated £ £ 4,060 1,062 3,608 - 684 537 171 4,956 8,523 6,555 Transfers between At funds 31.3.24 £ £ (486,751) 174,240 316,751 325,000 20,000 20,000 70,000 70,000 80,000 80,000 - 669,240 - - - 669,240 Resources Movement expended in funds £ £ (262,131) 55,222 8,249 8,249 (253,882) 63,471 (1,619) (1,619) (255,501) 61,852 |
|---|---|
continued...
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Lady McAdden Breast Cancer Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
12. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.4.22 £ Unrestricted funds General fund 611,620 Restricted funds Gannett Foundation - The National Lottery 674 674 TOTAL FUNDS 612,294 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 205,152 Restricted funds Pink Ribbon 4,250 Fowler Smith and Jones 1,500 Albert Hunt Trust 5,000 Gannett Foundation 1,619 Kickstart 238 The National Lottery - 12,607 TOTAL FUNDS 217,759 |
Net movement At in funds 31.3.23 £ £ (6,256) 605,364 1,619 1,619 (371) 303 1,248 1,922 (5,008) 607,286 Resources Movement expended in funds £ £ (211,408) (6,256) (4,250) - (1,500) - (5,000) - - 1,619 (238) - (371) (371) (11,359) 1,248 (222,767) (5,008) |
|---|---|
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Lady McAdden Breast Cancer Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
12. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Designated Property Ownership Fund Designated Building Improvement Fund Designated Charity Shop Expansion Fund Designated Service Development Fund Restricted funds The National Lottery TOTAL FUNDS |
At 1.4.22 £ 611,620 - - - - 611,620 674 612,294 |
Net movement in funds £ 48,966 8,249 - - - 57,215 (371) 56,844 |
Transfers between funds £ (486,751) 316,751 20,000 70,000 80,000 - - - |
At 31.3.24 £ 173,835 325,000 20,000 70,000 80,000 |
|---|---|---|---|---|
| 668,835 303 |
||||
| 669,138 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Designated Property Ownership Fund Restricted funds Pink Ribbon Fowler Smith and Jones Albert Hunt Trust Gannett Foundation Kickstart The National Lottery TOTAL FUNDS |
Incoming resources £ 522,505 - 522,505 4,250 1,500 5,000 1,619 238 - 12,607 535,112 |
Resources Movement expended in funds £ £ (473,539) 48,966 8,249 8,249 (465,290) 57,215 (4,250) - (1,500) - (5,000) - (1,619) - (238) - (371) (371) (12,978) (371) (478,268) 56,844 |
Resources Movement expended in funds £ £ (473,539) 48,966 8,249 8,249 (465,290) 57,215 (4,250) - (1,500) - (5,000) - (1,619) - (238) - (371) (371) (12,978) (371) (478,268) 56,844 |
|---|---|---|---|
| 57,215 - - - - - (371) |
|||
| (371) | |||
| 56,844 |
The following funds are held by the charity:
Designated fund - Freehold property fund:
The charity transferred the value of the freehold property into a designated fund in the year in order to be safeguarded separately from the general reserve.
Designated fund - Building improvement fund:
The balance of these funds are held for the future improvement of the property at Elmsleigh Drive Leigh on Sea
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Lady McAdden Breast Cancer Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
12. MOVEMENT IN FUNDS - continued
Designated fund - Charity shop expansion fund:
The balance of these funds are held for the future creation of a second charity shop in an additional location.
Designated fund - Service delivery fund:
The balance of these funds are held towards the hiring of 2 additional resources and investment in set-up research and marketing activities to extend Lady McAdden's services as per years 2 & 3 of the business plan
National lottery restricted fund:
Fixed assets held within the National Lottery restricted fund were transferred to the general fund due to the grant conditions of purchase being met. Therefore assets can now be combined in the general fund.
Transfers between funds
The following transfers were made between funds in the year:
Designated fund - Freehold property fund:
The charity transferred the value of the freehold property into a designated fund in the year in order to be safeguarded separately from the general reserve.
National lottery restricted fund:
Fixed assets held within the National Lottery restricted fund were transferred to the general fund due to the grant conditions of purchase being met. Therefore assets can now be combined in the general fund.
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
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Lady McAdden Breast Cancer Trust
Detailed Statement of Financial Activities for the Year Ended 31 March 2024
| 31.3.24 | 31.3.23 | |
|---|---|---|
| as restated | ||
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | 2 | 2 |
| Donations | 26,733 | 8,350 |
| Legacies | 83,015 | 2,000 |
| Grants | 5,000 | 12,369 |
| In memory | - | 1,484 |
| 114,750 | 24,205 | |
| Other trading activities | ||
| Fundraising events | 47,270 | 17,711 |
| Shop income | 144,892 | 140,174 |
| Ebay income | - | 951 |
| Pop up Shop income | 5,367 | 26,310 |
| 197,529 | 185,146 | |
| Investment income | ||
| Rents received | 2,325 | - |
| Deposit account interest | 2,749 | 450 |
| 5,074 | 450 | |
| Charitable activities | ||
| Unit attendance income | - | 7,720 |
| Other income | ||
| Government support | - | 238 |
| Total incoming resources | 317,353 | 217,759 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Fundraising salaries | 9,803 | - |
| Fundraising social security | 824 | - |
| Fundraising event expenses | 16,186 | 4,959 |
| 26,813 | 4,959 | |
| Other trading activities | ||
| Shop salaries | 69,127 | - |
| Shop social security | 1,574 | - |
| Shop pensions | 795 | - |
| Tilbury charity shop expenses | 17,228 | 74,686 |
| Ebay expenses | - | 23 |
| Carried forward | 88,724 | 74,709 |
This page does not form part of the statutory financial statements
Page 18
Lady McAdden Breast Cancer Trust
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 March 2024 | ||
| 31.3.24 | 31.3.23 | |
| as restated | ||
| £ | £ | |
| Other trading activities | ||
| Brought forward | 88,724 | 74,709 |
| Pop up shop expenses | 251 | - |
| 88,975 | 74,709 | |
| Charitable activities | ||
| Wages | 98,283 | 102,929 |
| General social security | - | 238 |
| Rates and water | 619 | 232 |
| Insurance | 9,645 | 7,564 |
| Light and heat | 5,415 | 693 |
| Telephone | 4,640 | 4,123 |
| Postage and stationery | 748 | 2,904 |
| Advertising | 2,646 | 1,250 |
| Sundries | 191 | 526 |
| Software licences | 5,030 | 165 |
| Cleaning and waste removal | 1,450 | - |
| Refreshments | 741 | - |
| Travel expenses | 1,640 | 298 |
| HR Support | 603 | - |
| Subscriptions | 1,379 | - |
| Gifts and gratuities | 484 | - |
| Repairs and maintenance | 3,807 | 5,113 |
| Supervision | 60 | - |
| Payroll and bookkeeping | 6,414 | 1,296 |
| Freehold property | (60,438) | 10,073 |
| Computer equipment | 566 | 755 |
| Impairment losses for tangible fixed assets | 52,189 | - |
| 136,112 | 138,159 | |
| Support costs | ||
| Finance | ||
| Bank charges | 1,665 | 950 |
| Governance costs | ||
| Accountancy fees | 1,936 | 3,990 |
| Total resources expended | 255,501 | 222,767 |
| Net income/(expenditure) | 61,852 | (5,008) |
This page does not form part of the statutory financial statements
Page 19