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2024-03-31-accounts

Company Registration Number: 03779123

Unaudited[1] financial statements for the year ended 31 March 2024

The Miscarriage Association

Contents

Company information 1
Report of the Board of Trustees 2
Independent examiner’s report 12
Statement of financial activities 14
Balance sheet 15
Statement of cash flows 16
Notes to the financial statements 17 – 29

1 These financial statements have been independently examined, in accordance with the charity reporting and accounting requirements, November 2016 (CC15d)

THE MISCARRIAGE ASSOCIATION

COMPANY INFORMATION FOR THE YEAR ENDED 31 MARCH 2024

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CHARITY NUMBERS

COMPANY NUMBER REGISTERED OFFICE

1076829 (England & Wales) SC039790 (Scotland) 03779123 (Company Limited by Guarantee)

2 Otters Holt Wakefield WF4 3QE Tel: 01924 200795 info@miscarriageassociation.org.uk www.miscarriageassociation.org.uk

BOARD OF TRUSTEES

CHIEF EXECUTIVE OFFICER AND COMPANY SECRETARY INDEPENDENT EXAMINER

A Braier Chair N Necati Vice Chair T Owen Hon Treasurer S Bailey B Lad O Obaro A Hylton-Potts (co-opted) J Harris (co-opted) L English-Rose (co-opted) K Hattersley Greenish (co-opted) V Robinson M Speight FCA Forvis Mazars LLP 5[th] Floor 3 Wellington Place Leeds LS1 4AP

PRINCIPAL BANKERS

Co-operative Bank 1 Balloon Street Manchester M60 4EP

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THE MISCARRIAGE ASSOCIATION

REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

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The Board of Trustees, who are also Directors of the Charity for the purposes of the Companies Act, present their annual report and financial statements of the Miscarriage Association for the year to 31 March 2024

PRINCIPAL AIMS AND OBJECTS

The Miscarriage Association acknowledges the distress associated with pregnancy loss and strives to make a positive difference for those it affects. It aims to provide support and information to people who are affected by the loss of a baby in pregnancy, to raise public awareness of the subject of pregnancy loss and to promote good practice in hospital and community-based healthcare.

Public benefit

In planning and setting the objectives for the Miscarriage Association, the Trustees have carefully considered the Charity Commission's guidance on public benefit. The Trustees consider that the Charity has complied with the duty under Section 17 of the Charities Act 2011 in respect of public benefit guidance issued by the Charity Commission. The impact of the Charity’s work demonstrates the positive benefit that it has on anyone affected by pregnancy loss: those who directly experience the loss, their partners, families and friends and those in a position to provide care and support, including health professionals and employers. This is achieved through improving the support, information and care provided to all affected and by raising public awareness and understanding.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Miscarriage Association is a charitable company, limited by guarantee, registered as a charity with the Charity Commission in England and Wales and the Office of the Scottish Charity Regulator.

The company is managed by its directors, who comprise its Board of Trustees, in accordance with its Articles of Association and within the provisions of the Charities Act 2011 and the Companies Act 2006 and the recommendations and requirements of the Charity Commissioners. A copy of the company’s Articles is available from the registered office.

The Miscarriage Association is a membership organisation with membership open to all who agree with its aims, objectives and governing document. Membership is open to individuals, groups and organisations on payment of an annual fee. This fee may be reduced or waived in certain circumstances and membership is never refused because of inability to pay. All members are entitled to vote at general, special and emergency meetings. Groups and organisations have only one vote and must elect a representative for this purpose.

Trustees

The directors of the Miscarriage Association are referred to in the company’s Articles of Association and in this report as its Trustees. The Board of Trustees has overall legal and financial responsibility for the Miscarriage Association and is responsible for the employment of all staff. It must comprise no fewer than four and no more than fifteen people, all of whom must be members of the Miscarriage Association.

Trustees are eligible for (re)appointment at the first annual appointments meeting following their successful probation period and may serve for a term of up to three years. At the end of their term of office they may be re-appointed if they so wish and if they remain eligible. A Trustee may serve on the Board for up to three terms (a term being three years) making nine years in total. The Board may extend this in special circumstances so as not to lose vital expertise due to a technicality of tenure.

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THE MISCARRIAGE ASSOCIATION

REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

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Trustees agreed in November 2021 to move to quarterly meetings as a general principle, with additional meetings as needed. They held six Board meetings in the year to 31 March 2024, with a mix of face to face, online and hybrid meetings as appropriate.

Changes in membership of the Board of Trustees during the period to the date of this report are reflected below:


reflected below:
Appointed Resigned
A Braier
B Hepworth-Jones Vice Chair
 18 March 2024
P Kerry Hon Treasurer to
9 Sep 2023 9 Sep 2023
T Owen Hon Treasurer from
9 Sep 2023 6 July 2023
S Bailey
J Birrell 18 March 2024
M Ingram 3 Sep 2022 8 June 2024
B Lad
N Necati
O Obaro
A Hylton Potts 21 Sep 2024 (co-opted)
J Harris 21 Sep 2024 (co-opted)
L English-Rose 21 Sep 2024 (co-opted)
K Hattersley-Greenish 21 Sep 2024 (co-opted)

No Trustee held any beneficial interest in the charity during the period under review.

With two long-standing Trustees due to retire in March 2024, the Board undertook an internal audit of its skills and decided to recruit a minimum of three new Trustees during the first part of 2024. New Trustees with experience of charity governance, campaigns and advocacy and fundraising were considered particularly desirable. A successful recruitment drive yielded several high-quality applications and as a result four trustees were invited to join the board following interviews with the Chair and members of the Nominations Committee and positive references being obtained. As per the Charity’s procedures, the Trustee-elects were observers at their initial Trustee meeting and were coopted to the board at their second meeting in September 2024.

Co-opted Trustees are eligible for election to the Board of Trustees at the annual appointments meeting following their successful probation period. The Board reviews its performance regularly and training needs for Trustees are considered and opportunities for appropriate training explored. Trustees undertook specific Safeguarding for Trustees training in February 2024 and new Trustees, and those unable to attend the February session, will take part in training in October 2024.

Senior staff

During the year ending 31[st] March 2024, the staff and day-to-day operations of The Miscarriage Association were managed by a National Director, who also acted as Company Secretary. She was supported by a Deputy Director, who led on income generation, partnerships and other key areas of development.

In planning for the retirement of the National Director at the end of March 2024, Trustees decided to create a new position of Chief Executive Officer (CEO) to replace the former National Director title, better reflecting practice within the charity sector. An open recruitment and interview process was held which resulted in the former Deputy Director being appointed to this role.

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THE MISCARRIAGE ASSOCIATION

REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

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Following their appointment from 1[st] April 2024, a small staffing restructure was carried out to create a senior leadership team, comprising the CEO, Head of Operations and Service Delivery and Head of Communications and Campaigns. The two new positions replaced the former roles of Deputy Director and Communications Manager and while they do not increase the Miscarriage Association’s overall headcount, they will provide important senior support for the CEO, both internally and externally.

Remuneration policy

The Miscarriage Association recognises that its staff is its greatest asset. It continues to regularly review remuneration and staff benefits in line with its Pay Policy, which was agreed by Trustees in March 2024. It offered a cost-of-living increase to staff from 1[st] April 2024 and continues to provide an Employee Assistance Programme.

Volunteers

The Miscarriage Association continued to benefit from the time and skills of a range of volunteers in a variety of roles. During the reporting period, 35 volunteers offered peer support by telephone or in support groups, and a further eight helped to administer, moderate and respond to posts in our online support forum and Facebook groups. In addition, 140 people were registered as media volunteers, while others provided the user perspective to healthcare professionals and researchers and offered support in a range of other ways. Our Trustees are, by definition, also volunteers.

All volunteers are greatly appreciated for their contribution to and support for the Miscarriage Association.

Collaborative working

The Miscarriage Association is an independently constituted organisation and is not dependent on any other party for its activities. Collaborative work with other charities and organisations is, however, a key part of its ethos.

We are members of formal and informal collaborative groups, such as the Pregnancy and Baby Charities Network (PBCN) and the All-Party Parliamentary Group (APPG) on Baby Loss. As members of the Department of Health and Social Care Advisory Panel for the Pregnancy Loss Review, published in July 2023, we continue to advise on draft policies and documents. In 2023, we continued to serve on the Scottish Government’s Pre-24 Week Loss Form Task and Finish Group, supporting with the launch of the Scottish Memorial Book and certification in October 2023. In 2024, we served on the Scottish Government’s Short-Life Working Group on Miscarriage Care.

We have strong links with professional bodies including the Royal College of Obstetricians and Gynaecology (RCOG), the Royal Colleges of Nursing (RCN) and Midwives (RCM) and the European Society for Human Reproduction and Embryology (ESHRE). The Chief Executive Officer serves on the executive committee of the Association of Early Pregnancy Units (AEPU). They also advise on an ad hoc basis for many other initiatives.

Branches

The Miscarriage Association ended this reporting period with 13 branches (i.e. support groups) during the year. Branch income and expenditure are incorporated in the Association’s accounts, but it should be noted that in all but one instance, these funds are held by and for the use of those branches alone. The exception is the Edinburgh branch, whose funds are held at their request by the charity. All branch funds, including these, are classed as Restricted Funds. Five branches held no funds at all during the year. Donations from branches to the Association’s General Fund are entirely at the discretion of those branches.

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THE MISCARRIAGE ASSOCIATION

REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

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Risk management

Risk assessment and management is a key priority for the Miscarriage Association. While its risk register, which covers financial, strategic, operational, environmental and regulatory risks, is formally reviewed annually, the CEO and Trustees remain continually alert to risks and take mitigating actions where necessary. It carried out its most recent annual risk review in September 2024.

The Miscarriage Association continues to comply with GDPR guidance, now within the Data Protection Act 2018.

REVIEW OF ACTIVITIES AND ACHIEVEMENTS

With the appointment of a new CEO in April 2024, the Miscarriage Association is developing a new three-year strategy with the aim of supporting even more people affected by the distress of pregnancy loss. It will introduce this new strategy later in 2024.

In 2023-24, the Miscarriage Association’s strategic aims were two-fold:

  1. Anyone affected by pregnancy loss gets the care, support and information that is right for them

  2. The diverse impact of pregnancy loss is widely understood and acknowledged.

We report our achievements against these aims here.

Aim 1: Anyone affected by pregnancy loss gets the care, support and information that’s right for them

1a: Working to improve the care that women and partners receive at all stages of their experience of pregnancy loss

Throughout the year, we continued to work on several key programmes and projects aimed at improving the care of those experiencing miscarriage, ectopic pregnancy or molar pregnancy.

Policy and guidance

Training and support for professionals

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THE MISCARRIAGE ASSOCIATION

REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

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Patient information

1b: Providing a high-quality support service for anyone affected by pregnancy loss

We continued to provide our high-quality empathetic support, delivered by our trained staff team and network of volunteers.

Overall, post-Covid-19, we have noticed a trend in direct contact numbers declining. Our new strategy will aim to address this by implementing new methods of contact and increasing the availability of our services.

1c: Providing accurate, up-to-date, understandable information about pregnancy loss for anyone who needs it

The Miscarriage Association website continues to be widely recognised as one of the most comprehensive sources of information around pre-24-week loss in the UK.

During the reporting period, our website was visited 1,562,659 times. This was slightly higher than the previous year (1,468,944 visits) and reflects work we undertook to improve our search engine optimisation (SEO) and to make us more visible to search engines, like Google. We continue to benefit from the Google Ads Grant charitable scheme which also helps in this regard.

As part of our new strategy, we plan to review our website for useability and accessibility. We will also look at our content and increasing its variety. We have already begun to do this via a new blog series which breaks down information in a quick-read, easy-digestible format.

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THE MISCARRIAGE ASSOCIATION

REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

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Our private Facebook groups continued to be well-used and are an important source of peer support.

We have reported on our well-utilised series of patient information leaflets in 1a above.

Aim 2: The diverse impact of pregnancy loss is widely understood and acknowledged

2a: Working to increase public awareness and understanding of the potential impact of pregnancy loss; challenging perceptions/assumptions and reducing the sense of taboo

Public affairs and partnerships

Workplace

We continue to dedicate significant resources to our work to encourage employers to improve the support provided to staff affected by pregnancy loss.

Social media

Followings and memberships across all platforms have increased, particularly across Instagram and LinkedIn, where we are reaching new professional audiences. In addition:

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THE MISCARRIAGE ASSOCIATION

REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

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2b: Working to increase public awareness of the M.A. as an expert, trustworthy and reliable source of help, support and information

We noted 130 pieces of media featuring the Miscarriage Association in 2023-24, representing a small increase on the previous year. Several of these were around the launch of certificates for pre-24-week loss, including an appearance on BBC Breakfast television. We also featured on ITV News speaking about Olympian Rebecca Adlington’s sad miscarriage and were a live panellist on Channel 5’s Jeremy Vine show discussing paid pregnancy loss leave.

In addition, the Miscarriage Association was featured in several podcasts including with celebrity Sharon Gafka, and on the Blossoming Midwife, The Work Couch and with Adecco Group and we also took part in Instagram Lives as a guest on various popular accounts.

FINANCIAL REVIEW

Financial review

The Miscarriage Association continued to follow sound financial management principles and processes to make best use of its resources. We remained alert to the changing financial landscape, always working to ensure that the Charity could maintain and further develop its high-quality services.

Trustees and senior staff worked to a deficit budget, predicting a significant decrease in income against often rising costs, with the resulting deficit at year end planned to be funded though the designated development fund set up for this purpose. However, against expectations, and following several exceptional donations and fundraising efforts, the Charity succeeded in generating income that exceeded expenditure by £82,194. Total income for the year was £737,094 (£583,287 in 2022/23) and net assets at year-end were £1,185,253 (£1,103,059 in 2022/23).

Total income during the year was 26% higher than in the previous year. This income can be attributed to a number of sources, including: the Miscarriage Association Memory Walk, a new virtual event we added to our calendar in October 2023; better than expected performance of the existing Miles That Matter fundraising event; a new corporate partnership with Simplyhealth; kind grants from Lloyds of London and Southampton Hospitals NHS Foundation Trust; and a generous gift in kind of display advertising space from IDS Media, the value of which was matched in expenditure. We were also fortunate to receive another grant from the Ajaz Foundation towards the end of the financial year.

In total, spontaneous donations and funds from individual and Charity-generated challenges amounted to £379,545 (against £296,763 in 2023). In contrast, however, revenue from fundraising and trading activities, particularly the London Marathon, decreased by 14% (£115,533 against £134,841 in 2023) due to the Charity having fewer places in the event compared to the previous year. We also benefited from a Scottish Government grant of £14,357, recorded as restricted income along with income from branches.

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THE MISCARRIAGE ASSOCIATION

REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

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We continued to benefit from a Google Ads gift in kind, whose nominal value is also matched in general expenditure.

Conversely, total expenditure during the year was 15% higher than in the previous year (£654,900 compared with £567,967) and this was due to the costs of charitable activities increasing by 13% from £498,630 to £562,462.

The most significant difference was in staff costs, which increased by 18% (£338,371 against £286,627 in 2023), due to the appointment of a new Fundraising Assistant post and a general increase in salaries following a benchmarking exercise. We also incurred a four-fold increase in the costs of staff recruitment due to the planned appointment of a new Chief Executive Officer.

We also noted a 28% increase in the cost of leaflet production and distribution, from £41,380 in 2023 to £52,983 in 2024. This was in part due to making bulk orders to reduce the cost per unit price but also providing leaflets for 2,600 GP surgeries as part of our pro bono partnership with IDS Media as noted earlier.

Other costs included the purchase of a new Customer Relationship Management (CRM) system and an associated email marketing tool; and work by an agency to increase the Charity’s search engine optimisation (SEO).

As is to be expected, the cost of raising funds also increased by 33% from £69,337 to £92,438. Notable increases in costs can be attributed to the purchase of places in the London Landmarks half marathon event; increasing our number of places in the Great North Run and the purchase of additional fundraising materials such as T-shirts for the Memory Walk and improved fundraiser information packs and collateral like bunting.

Reserves policy

The Charity’s reserves policy aims to maintain general reserves at a level that ensures a sound financial base for its future operations. Trustees have agreed that these reserves should be set annually at the level of 12 months’ operational costs which for 2024/25 is £664,506 (annual expenditure minus any gifts in kind which would not be spent if using contingency funds). The actual figure held is £706,828, which is broadly in line with the Charity’s policy.

At the end of the 2022/23 financial year, Trustees established a development fund of £500,000, which at that time was broadly, the amount held over and above its target level of reserves (12 months’ operational costs). It has committed this sum to support an ambitious programme of growth for the Charity, focused on supporting significantly more people affected by the difficult and distressing experience of pregnancy loss. Additional work was begun during this period, including the introduction of employer training and a project to improve the Charity’s website’s visibility, but due to higher than anticipated income, it was not necessary to draw down from this fund, with costs being met from general funds. The development fund has been carried forward to underpin the charity’s new threeyear strategy beginning in 2024/25.

Further details of the designated fund are provided in note 24.

The restricted fund reserve comprises branch funds and work in Scotland and Northern Ireland.

Branches provide support and comfort through the operation of local support groups, some managed online. Branch funds are for the use of those branches alone. The Edinburgh branch funds are held at their request by the Miscarriage Association, and these are therefore shown separately as a restricted holding fund.

In December 2023 the Scottish Government made a grant of £14,357 for the year to 31 March 2024 for work benefiting people in Scotland and expenditure is reported accordingly.

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THE MISCARRIAGE ASSOCIATION

REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

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Fundraising

Despite the continuing uncertainty of world events and the cost-of-living crisis, income from fundraising and individual donations increased in 2023/24.

Overall, fundraising, donations, legacies and trading activities (including the London Marathon) in 2023-24 amounted to a total of £697,852 against £564,391 in the previous period – an increase of approximately 24%. Our own ‘in-house’ schedule of virtual events continued to be well-supported, with the January ‘Step Up for the M.A.’ challenge raising £34,426 (£44,496 in 2023), our ‘Miles that Matter’ campaign generating £51,586 (£21,250 in 2023) and our ‘Lights of Love’ virtual memory tree bringing in £1,355 (£2,245 in 2023). Our new Memory Walk event in October 2023 raised £44,185.

We were further supported by people who choose to take on their own challenges, including some individuals who raised significant sums to support the Charity, including actor Adam Oakley who raised £13,606 by holding a series of live streaming events. We also received £10,537 in donations and fundraising undertaken by the family and friends of the late Paula Yeadon Smith.

Income from merchandise was 23% down on the previous year, generating £11,388 in 2023/24 against £14,792 the previous year. This was not unexpected as no new merchandise items were added to our schedule in 2023/24.

As ever, we greatly appreciate the generosity of all our supporters, donors and fundraisers who not only help to sustain and develop our services but also help to raise vital awareness of the impact of pregnancy loss.

Cash and investment policy

Cash balances (including those term deposits which are categorised as cash investments on the Balance Sheet) held by the Miscarriage Association were slightly higher than in the previous year: £1,131,100 at 31 March 2024 compared with £1,060,393 at 31 March 2023. The Charity holds no long-term investments beyond cash held on deposit. Monies are invested to seek the maximum return over the short to medium term, having due regard to risk, whilst ensuring liquidity sufficient to meet the charity’s obligations.

Going Concern

The Miscarriage Association’s main sources of income are from donations and fundraising activities which are not guaranteed going forward, particularly in the light of the changing economic climate. Forecasts have been prepared based on prudent estimates of future income which cover estimated future expenditure. An updated income generation strategy, begun during the year, focuses on maximising both current and new income streams and fundraising initiatives, excellent stewardship of our supporters and the development of additional funding sources going forward.

The directors have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future and for a period of at least twelve months from the date of approval of these accounts. Thus, they continue to adopt the going concern basis for accounting in preparing the annual financial statements.

PLANS FOR THE FUTURE

The Trustees have tasked the new CEO with developing and delivering a bold three-year strategy to grow the charity and raise its profile to reach more people affected by pregnancy loss.

Alongside developing its existing activities, future plans include:

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THE MISCARRIAGE ASSOCIATION

REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

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TRUSTEES’ RESPONSIBILITIES

Law applicable to incorporated charities requires the Trustees to prepare financial statements for each financial year according to the Charities Act 2011 and Companies Act 2006 which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year.

The Trustees confirm that they are aware of the Charity Commission guidance on Public Benefit and believe that their report demonstrates compliance with the guidance.

In preparing the financial statements, the Trustees are required to:

The Board of Trustees is responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011 and Companies Act 2006. It is 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.

The Trustees also confirm that they do not know of any relevant information that has not been disclosed to the charity’s Independent Examiner, having taken all possible steps to make themselves aware of such information and pass it on to the Independent Examiner.

SMALL COMPANY RULES

This report has been prepared in accordance with the special provision of Part 15 of the Companies Act 2006.

Approved by the Trustees on 21 September 2024 and signed on their behalf by

A Braier

A Braier (Oct 10, 2024 17:16 GMT+1)

Chair: A Braier

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THE MISCARRIAGE ASSOCIATION

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE MISCARRIAGE ASSOCIATION

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I report on the financial statements of the charity for the year ended 31 March 2024, which are set out on pages 14 to 29.

Respective responsibilities of trustees and examiner

The Trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the financial statements in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 (“the 2005 Act”), the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the financial statements of the charity 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 the charity’s financial statements as carried out under section 44 (1) (c) of the 2005 Act and section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed the requirements of Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

This report, including my statement, has been prepared for and only for the charity’s trustees as a body. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body for my examination work, for this report, or for the statements I have made.

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

Since the Company is required by company law to prepare its accounts on an accruals basis and is registered as a charity in Scotland your examiner must be a member of a body listed in Regulation 11(2) of the Charities Accounts (Scotland) Regulations 2006 (as amended). I confirm that I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales which is one of the listed bodies.

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THE MISCARRIAGE ASSOCIATION

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE MISCARRIAGE ASSOCIATION

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Independent examiner’s statement (continued)

In connection with my examination, which is complete, no matters have come to my attention which give me reasonable cause to believe that in any material respect:

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

Signed: Michael Speight Michael Speight (Oct 13, 2024 11:53 GMT+1)

Michael Speight FCA

Forvis Mazars LLP 5[th] Floor 3 Wellington Place Leeds LS1 4AP

Date: 13/10/2024

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THE MISCARRIAGE ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES (incorporating an income and expenditure account) FOR THE YEAR ENDED 31 MARCH 2024

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Notes
INCOME FROM:
Donations and legacies
4
Fundraising and trading
activities
5
Investment income
Other income
6
Total income
EXPENDITURE ON:
Raising funds
8
Charitable activities
9
Total expenditure
11
Net income /
(expenditure)
Fund balances brought
forward at 1 April 2023
Transfer between funds
24
Fund balances carried
forward at 31 March 2024		 Unrestricted Funds
General
Funds
£
566,812
115,533
21,711
17,531
721,587
91,984
538,172
630,156
91,431
564,851
-
656,282

The Statement of Financial Activities has been prepared on the basis that all operations are continuing operations.

There are no gains or losses other than those reported in the Statement of Financial Activities.

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THE MISCARRIAGE ASSOCIATION

BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024

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Notes
Fixed assets
Tangible assets
14
Long term cash investments
15
Total Fixed Assets
Current assets
Debtors
16
Stocks
17
Cash at bank and in hand
18
Short term cash investments
19
Branch funds
20
Total Current Assets
Creditors: amounts falling due within
one year
21
Net current assets
Total assets less current liabilities
Net assets
Reserves
General funds
23
Designated funds
24
Restricted funds
25
Total funds
26		 2024
£
45,481
20,023
500,829
176,334
4,969		 £
5,255
453,937		 2023
£
34,647
14,693
436,713
173,021
10,026		 £
2,933
450,659
459,192
726,061		 453,592
649,467
747,636 669,100
(21,575) (19,633)
1,185,253 1,103,059
1,185,253 1,103,059
656,282
522,963
6,008		 564,851
527,297
10,911
1,185,253 1,103,059

For the financial year in question the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

No members have required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and for the preparation of the financial statements.

The financial statements, which have been prepared in accordance with the special provision of Part 15 of the Companies Act 2006 applicable to small companies, were approved by the Board of Trustees on 21 September 2024 and signed on their behalf by

Teresa Owen (Oct 10, 2024 19:10 GMT+1)

Hon Treasurer: T. Owen

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THE MISCARRIAGE ASSOCIATION

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

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2024
£
CASHFLOWS FROM OPERATING ACTIVITIES
Net cash inflow / (outflow) provided by operating activities
CASHFLOWS FROM INVESTING ACTIVITIES
Interest income
21,711
(Increase) / decrease in short term cash
investments
(3,313)
Increase in long term cash investments
(3,278)
Net cash inflow / (outflow) provided by operating
activities
CASHFLOWS FROM FINANCING ACTIVITIES
Payments to acquire tangible fixed assets
(4,612)
Net cash (outflow) provided by financing
activities
CHANGE IN CASH AND CASH EQUIVALENTS IN
THE REPORTING PERIOD
CASH AND CASH EQUIVALENTS AT THE
BEGINNING OF THE PERIOD
CASH AND CASH EQUIVALENTS AT THE END
OF THE PERIOD		 2024
£
CASHFLOWS FROM OPERATING ACTIVITIES
Net cash inflow / (outflow) provided by operating activities
CASHFLOWS FROM INVESTING ACTIVITIES
Interest income
21,711
(Increase) / decrease in short term cash
investments
(3,313)
Increase in long term cash investments
(3,278)
Net cash inflow / (outflow) provided by operating
activities
CASHFLOWS FROM FINANCING ACTIVITIES
Payments to acquire tangible fixed assets
(4,612)
Net cash (outflow) provided by financing
activities
CHANGE IN CASH AND CASH EQUIVALENTS IN
THE REPORTING PERIOD
CASH AND CASH EQUIVALENTS AT THE
BEGINNING OF THE PERIOD
CASH AND CASH EQUIVALENTS AT THE END
OF THE PERIOD		 £
48,551

15,120
(4,612)
59,059
446,739
505,798		 2023
£
8,388		 £
(10,533)

(96,315)
(1,973)
(3,313) 149,690
(3,278) (254,393)

(4,612)		 (1,973)
(108,821)
555,560
446,739

RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income
Depreciation
Investment income
(Increase) in stock
(Increase) in debtors
Increase in creditors
Net cash inflow / (outflow) provided by operating
activities
ANALYSIS OF CASH AND CASH EQUIVALENTS


Cash at bank and in hand
Branch funds
At 1.4.23
£
436,713
10,026

446,739		 82,194
2,290
(21,711)
(5,330)
(10,834)
1,942
48,551
Cashflow
£
64,116
(5,057)
59,059		 15,320
1,544
(8,388)
(9,020)
(14,653)
4,664
(10,533)
At 31.3.24
£
500,829
4,969
505,798



-16 -

THE MISCARRIAGE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

_ ______ ___ ___

1 Accounting policies

The Miscarriage Association is a charitable company, limited by guarantee, registered with the Charity Commission in England and Wales and the Office of the Scottish Charity Regulator. The address of its registered office is 2 Otters Holt, Wakefield, WF4 3QE. The charity’s company number is 03779123.

The principal purpose of the charity is to provide support and information to people who are affected by the loss of a baby in pregnancy, to raise public awareness of the subject of pregnancy loss and to promote good practice in hospital and community-based healthcare and in medical practice.

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

(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 and Republic of Ireland (FRS102) (effective 1 January 2019) – (Charities SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.

The Miscarriage Association meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

(b) Going concern

The directors have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future and for a period of at least 12 months from the date of approval of accounts. There are no material uncertainties about the entity’s ability to continue. Thus, they continue to adopt the going concern basis for accounting in preparing the annual financial statements.

(c) Incoming resources

All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy unless a deferment is required as a condition of the benefactor’s grant or donation.

(d) Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised and the trustees’ annual report provides more information about their contribution.

On receipt donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

-17 -

THE MISCARRIAGE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

_ ______ ___ ___

(e) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

(f) Unrestricted Funds

Unrestricted funds represent unrestricted monies donated, granted or raised for the pursuit of the Association’s general charitable objectives. The Association may nominate unrestricted funds as designated funds with the intention of using these funds for particular purposes. Designated funds, however, remain part of the charity’s unrestricted funds and may be used for any of the Miscarriage Association’s general objectives.

(g) Restricted Funds

Restricted funds represent monies donated and granted to or raised by the Association for specified purposes and which may not be used for any other purposes without the agreement of the benefactors or Charity Commissioners. Consequently, these do not form part of the Miscarriage Association’s unrestricted fund.

(h) Resources expended

Resources expended are recognised on an accruals basis as a liability is incurred. Resources expended include any VAT which cannot be fully recovered and are reported as part of the expenditure to which they relate.

(i) Allocation of support costs

Where costs of raising funds and costs of charitable activities can be directly related to an activity, they are so classified. Where costs cannot be directly attributed, they are allocated on a basis which is appropriate to the use of the resource (see note 11).

(j) Tangible fixed assets

The charity’s tangible fixed assets are held solely for the purpose of pursuing its charitable objectives.

Fixed assets are shown at original cost less accumulated depreciation. Depreciation is provided at the following annual rates in order to write off the cost of each asset over its estimated useful life.

Computer and telephone equipment 25% straight line Office furniture and equipment 20% reducing balance

Stocks are valued at the lower of cost and net realisable value on a first in, first out basis.

-18 -

THE MISCARRIAGE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

_ ______ ___ ___

(l) Cash at bank and in hand, and cash investments

Cash at bank and in hand includes cash and short term highly liquid investments with a maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Short term cash investments include cash held on deposit for a term of between 4 and 12 months from the date of deposit.

Long term cash investments include cash held on deposit for a period of more than 12 months from the date of deposit.

(m) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured as their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

(n) Pensions

The pension costs charged in the financial statements represent the contributions payable by the Association during the year.

(r) Lease commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term.

(s) Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the balance sheet date and the amounts reported for reserves and expenses during the year. However, the nature of the estimation means that the actual outcomes could differ from the estimates. The Trustees believe that there are no critical accounting policies where judgements or estimates are necessarily applied.

2 Income - general funds

This income is attributable to the grants, fees and other unrestricted income and from the general activities of the Miscarriage Association.

3 Taxation

Taxation has not been provided for as the charity qualifies for exemption under Section 505 ICTA 1988 on its charitable activities.

-19 -

THE MISCARRIAGE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

_ ______ ___ ___

4
Donations and legacies
Membership fees
Branch income
Donations from Companies
and Charitable Trusts
Company gifts in kind
Donations from individuals
and groups
Government Grants
Other Grants
5
Fundraising and trading
activities
London Marathon
London Landmarks
Merchandise
Great North Run
Lights of Love
6
Other income
Training and consultancy
fees		 General
Funds
Designated
Funds
Restricted
Funds
£
£
£
1,705
-
-
-
-
150
87,937
87,625
-
-
1,000
-
379,545
-
10,000
-
-
-
-
14,357
-
566,812
-
15,507
General
Funds
Designated
Funds
Restricted
Funds
£
£
£
81,724
-
-
4,105
-
-
11,388
16,961
1,355
-
-
-
-
-
-
115,533
-
-
General
Funds
Designated
Funds
Restricted
Funds
£
£
£
17,531
-
-
17,531
-
-		 Total
2024
£
1,705
150
88,937
87,625
379,545
14,357
10,000
582,319
Total
2024
£
81,724
4,105
11,388
16,961
1,355
115,533
Total
2024
£
17,531
17,531		 Total
2023
£
2,106
1,004
44,140
72,174
296,763
13,363
-
429,550
Total
2023
£
109,805
-
14,792
7,999
2,245
134,841
Total
2023
£
10,508
10,508

7 Branch income and expenditure

The income and expenditure of the branches of the Miscarriage Association have been incorporated into these financial statements. This is restricted income and expenditure for the use of the branches alone.

-20 -

THE MISCARRIAGE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

_ ______
8
Raising funds
Salaries and office costs:
Costs directly allocated to
activities
Support costs allocated to
activities
Branch expenditure:
Costs directly allocated to
activities
9
Charitable activities
Salaries and office costs:
Costs directly allocated to
activities
Support costs allocated to
activities
Governance costs:
Of charitable activities
Support costs
Branch expenditure:
Costs directly allocated to
activities		 ___ ___
General
Funds
Designated
Funds
Restricted
Funds
£
£
£
82,814
-
-
9,170
-
-
-
-
454
91,984
-
454
General
Funds
Designated
Funds
Restricted
Funds
£
£
£
418,246
4,334
15,203
56,681
53,965
9,280
-
-
-
-
-
-
-
-
4,753
538,172
4,334
19,956		 _
Total
2024
£
82,814
9,170
454
92,438
Total
2024
£
437,783
56,681
53,965
9,280
4,753
562,462		 _____
Total
2023
£
60,806
8,531
-
69,337
Total
2023
£
383,639
54,698
50,530
8,431
1,332
498,630

-21 -

THE MISCARRIAGE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

_ ______ ___ ___

10 Support costs

The support costs of the charity consist of the items of cost shown below.

Support costs are allocated on the basis of staff time, usage (e.g. of equipment), shared costs and floor area as set out below.

Item of cost
Basis of
allocation
Staff costs
Staff time
Administration &
office costs
Usage
Management costs
Usage
Finance costs
Shared
costs
Premises &
equipment
Floor area
Depreciation
Usage		 Fundraising
Charitable
Activities
Govern
-ance
Total
2024
£
£
£
£
80
14,169
-
14,249
1,649
4,880
1,059
7,588
175
350
-
525
2,113
2,113
2,113
6,339
4,809
34,196
5,135
44,140
344
973
973
2,290
9,170
56,681
9,280
75,131		 Total
2023
£
12,893
8,385
936
6,120
41,782
1,544
71,660
11
Total resources expended
Raising funds
Charitable activities		 Staff
costs
Depreciation
£
£
45,175
344
293,196
1,946
338,371
2,290		 Other
costs
£
46,919
267,320
314,239		 Total
2024
£
92,438
562,462
654,900		 Total
2023
£
69,337
498,630
567,967
Staff costs
Wages and salaries
Social security costs
Pension contributions		 2024
£
292,906
23,182
22,283
338,371		 2023
£
247,966
19,413
19,248
286,627

12 Staff costs

-22 -

THE MISCARRIAGE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

_ ______ _
The average number of employees was:
Full time
Part time
This is equivalent to 8.2 (6.4) full time posts.		 __ ___
2024
Number
2023
Number
5
5
5
4

In 2023/24 the Trustees considered the key management personnel to be the National Director and Deputy Director and total remuneration for those posts amounted to £133,192 (2023: £110,990).

The number of employees whose annual emoluments were £60,000 or more were:

2024 2023 Number 1 - (£60,001 - £70,000)

13 Net movement in funds

Net movement in funds is stated after charging:

Net movement in funds is stated after charging:
Operating lease rentals
Depreciation of owned assets in general funds
Independent examiner’s fee		 2024
£
2023
£
29,096
24,424
2,290
1,544
4,062
4,020
Tangible fixed assets
Cost
At 1 April 2023
Additions
At 31 March 2024
Depreciation
At 1 April 2023
Depreciation charge for the year
At 31 March 2024
Net book values
At 31 March 2024
At 31 March 2023		 Office
furniture &
equipment
Computer &
telephone
equipment
£
£
8,510
-
25,746
4,612
8,510
30,358
8,235
55
23,088
2,235
8,290
25,323
220
5,035
275
2,658		 Total
£
34,256
4,612
38,868
31,323
2,290
33,613
5,255
2,933

14 Tangible fixed assets

-23 -

THE MISCARRIAGE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

_ ______ ___
15
Long term cash investments
Cash on deposit for a period longer than 12 months
16
Debtors
Debtors
Bond
Prepayments
17
Stocks
Leaflets
Fundraising stock
18
Cash at bank and in hand
Cash at bank
Cash in hand
19
Short term cash investments
Cash on deposit for a period between 4 and 12 months		 ____
2024
£
453,937
453,937
2024
£
33,426
6,250
5,805
45,481
2024
£
16,268
3,755
20,023
2024
£
500,705
124
500,829
2024
£
176,334
176,334		 _____
2023
£
450,659
450,659
2023
£
19,039
6,250
9,358
34,647
2023
£
10,136
4,557
14,693
2023
£
436,589
124
436,713
2023
£
173,021
173,021

20 Branch funds

These are held as cash and bank balances at the branches, with the exception of the Edinburgh branch, whose funds are held at their request by the Charity.

21
Creditors – amounts falling due within one year
Creditors
Social security costs
Accrued expenses		 2024
£
5,872
8,526
7,177
21,575		 2023
£
4,063
6,020
9,550
19,633

-24 -

THE MISCARRIAGE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

_ ______ ___
22
Financial instruments
Carrying amount of financial assets
Financial assets that are debt instruments
measured at amortised cost
Carrying amount of financial liabilities
Financial liabilities measured at amortised cost		 _ __
2024
2023
£
£
39,676
25,289
21,575
19,633

Financial assets that are debt instruments measured at amortised cost are comprised of trade debtors. Financial liabilities measured at amortised cost are comprised of trade creditors, social security costs and accrued expenses.

23 Reserves – General funds

Reserves – General funds
Balance Balance
at Incoming Resources at
01.04.23 Resources Expended Transfers 31.03.24
£ £ £ £ £
General funds 564,851 721,587 (630,156) - 656,282

The Association’s assets and reserves do not belong to its members. On dissolution these must be distributed in accordance with the Articles of Association either to another charity with similar objects or to another body with prior agreement from the Charity Commission.

-25 -

THE MISCARRIAGE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

_ ______ ___ ___

24 Reserves – Designated funds

Awareness campaign
programmes
e-Learning resource
Development fund		 Balance at
01.04.23
£
22,297
5,000
500,000
527,297		 Incoming
Resources
£
-
-
-
-		 Resources
Expended
£
(4,334)
-
-
(4,334)		 Transfers
£
-
-
-
-		 Balance at
31.03.24
£
17,963
5,000
500,000
522,963

The Trustees designated some of the Charity’s general funds over six areas:

An awareness campaign The fund balance is earmarked for continuing awareness work in 2024/25.

e-Learning resource Trustees designated £5,000 to fund further development and promotion of the Charity’s online training resource for health professionals. This work was begun at the end of 2023/24 and will continue into the next financial year.

Development fund In 2023/24 Trustees agreed to assign £500,000 of its reserves to a new Development Fund to underpin an ambitious programme of growth for the charity over the next three years, allowing the charity to reach even more people affected by the difficult and distressing experience of pregnancy loss. This is further detailed in the Trustees’ report above.

25 Reserves – Restricted funds

Scottish
Government
Grant
Edinburgh Branch
Holding Fund
Northern Ireland
Project
Branch funds		 Balance at
01.04.23
£

88
10,026
10,911		 Incoming
Resources
£
14,357
-
1,000
150
15,507		 Resources
Expended
£
(14,357)
(27)
(819)
(5,207)
(20,410)		 Transfers
£
-
-
-
-
-		 Balance
at
31.03.24
£
-
858
181
4,969
6,008

-26 -

THE MISCARRIAGE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

_ ______ ___ ___

Scottish Government Grant

In December 2023, the Scottish Government made a grant of £14,357 for the year to 31 March 2024 for work benefiting people in Scotland over a twelve-month period and expenditure is reported accordingly.

Edinburgh Branch Holding Fund

The Edinburgh branch funds are held at their request by the Miscarriage Association but are for the branch use only. The balance is carried forward to 2024/25.

Branch funds

Branches provide support and comfort through the operation of local support groups.

26 Analysis of net assets between funds
Fixed Current Current Total
2024 assets assets liabilities
£ £ £ £
Unrestricted funds
General funds 459,192 218,665 (21,575) 656,282
Designated funds
Awareness campaign
programmes - 17,963 - 17,963
e-Learning resource - 5,000 - 5,000
Development fund - 500,000 - 500,000
Restricted funds
Edinburgh Branch Holding Fund - 858 - 858
Northern Ireland Project - 181 - 181
Branch funds - 4,969 - 4,969
459,192 747,636 (21,575) 1,185,253
Fixed Current Current Total
2023 Assets Assets liabilities
£ £ £ £
Unrestricted funds
General funds 453,592 130,892 (19,633) 564,851
Designated funds
Awareness campaign
programmes - 22,297 - 22,297
Second trimester loss resources
-		 - - -
Pregnancy after loss - - - -
e-Learning resource - 5,000 - 5,000
Moving costs - - - -
Development fund - 500,000 - 500,000
Restricted funds


Edinburgh Branch Holding Fund		 - 885 - 885
Branch funds - 10,026 - 10,026
453,592 669,100 (19,633) 1,103,059

-27 -

THE MISCARRIAGE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

_ ______ ___ ___

27 Share capital

The Charity is limited by guarantee and has no share capital. In accordance with the Association’s Articles of Association each member is liable to pay no more than £1 towards its liabilities.

28 Transactions with Trustees

The Association’s Trustees received no remuneration for their services as directors of the charity. In 2024 £1,128 (2023 - £567) was reimbursed to seven (2023 – four) Trustees for travel, subsistence and accommodation expenses.

29 Related party transactions

The Charity has no related party transactions to disclose for the year ended 31 March 2024.

30 Financial commitments

At 31 March 2024, the Association was committed to making the following payments under noncancellable operating leases: -

2024
Due within:
Less than 1 year
2 to 5 years
More than 5 years		 Property
£
25,000
100,000
77,072
202,072		 Equipment
£
4,096
10,520
-
14,616		 Total
2024
£
29,096
110,520
77,072
216,688
2023
Due within:
Less than 1 year
2 to 5 years
More than 5 years		 Property
£
25,000
100,000
102,072
227,072		 Equipment
£
4,346
14,366
-
18,712		 Total
2023
£
29,346
114,366
102,072
245,784

31 Pension costs

The Miscarriage Association operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Association in an independently administered fund. The pension cost charge represents contributions payable by the Association to the fund and amounted to £22,283 (2023 - £19,248). Outstanding contributions of £2,598 (2023 - £1,892) were due at the year end and are included in creditors.

-28 -

THE MISCARRIAGE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

_ ______ ___ ___
32 Statement of Financial Activities for the year ended 31 March 2023
Unrestricted Funds
General
Funds
Designated
Funds
Restricted
Funds
Total
2022
£
£
£
£
INCOME FROM:
Donations and legacies
415,183
-
14,367
429,550
Fundraising and trading activities
134,841
-
-
134,841

Charitable activities
-
-
-
-
Investment income
8,388
-
-
8,388
Other income
10,508
-
-
10,508

Total income
568,920
-
14,367
583,287
EXPENDITURE ON:
Raising funds
69,337
-
-
69,337
Charitable activities
473,334
10,441
14,855
498,630
Total expenditure
542,671
10,441
14,855
567,967
Net income / (expenditure)
26,249
(10,441)
(488)
15,320
Fund balances brought
forward at 1 April 2022
512,641
563,699
11,399
1,087,739
Transfer between funds
25,961
(25,961)
-
-

Fund balances carried
forward at 31 March 2023
564,851
527,297
10,911
1,103,059

-29 -