2021-06-30-accounts

CHARITY REGISTRATION NUMBER: 1081241

The Lowe Syndrome Trust Unaudited Financial Statements

30 June 2021

A. I. GROMAN FCA

Independent Examiner Groman and Company Chartered Accountants

5 Violet Hill St. John's Wood London NW8 9EB

The Lowe Syndrome Trust

Trustees' Annual Report

Year ended 30 June 2021

The trustees present their report and the unaudited financial statements of the charity for the year ended 30 June 2021.

Reference and administrative details

Registered charity name The Lowe Syndrome Trust Charity registration number 1081241 Principal office 673 Finchley Road London NW2 2JP The trustees Mr. J. Laycock (Chair) Mr. J. Ross Mrs. C. Mitchell Ms. P. Biziou Charity Patrons Baroness Susan Greenfield Sir Richard Sykes Mr. Tony Hadley Mr. Jonathan Coleman Ms. Penny Lancaster Mr. Tom Conti Mr. Christopher Biggins Ms. Susie Webb Mr. Tris Payne Mr. Mathieu Flamini Mr. Michael Fennings Ms. Melanie Chisholme Ms. Seville Bulpitt Mr. Richard Desmond Ms. Lisa Voice Medical Research Advisory Dr. Detlef Brockenhauer, Consultant Nephrologist, Board GOSH Professor Robert Unwin, Professor of Nephrology & Physiology, UCL Professor Shamshad Cockcroft, Dept of Physiology, UCL. Dr. Philip Beales, Hon. Consultant in Clinical Genetics, ICH. Dr. Peter Cullen, School of Medical Sciences, University of Bristol Mike Harrison, Consultant in Paediatric Dentistry, Guys Hospital London Professor Peng Tee Khaw, Professor of Glaucoma & Ocular Healing & Consultant Opthalmic Surgeon Professor Helen Cross, Head of Neuroscience Unit, UCL Dr. Nimalan Maruthainer, Royal Free Hospital / UCL Professor Robert Kleta, Chair of Nephrology, Royal Free Hospital / UCL Dr. Richard Sandford, Honorary Consultant in Medical Genetics, University of Cambridge Dr. Rudiger Woscholski, Senior Lecturer, Imperial College London

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The Lowe Syndrome Trust

Trustees' Annual Report (continued)

Year ended 30 June 2021

CEO/ Company secretary Mr. A. Thomas (CEO/Treasurer) Independent examiner A.I. Groman FCA Groman and Company Chartered Accountants 5 Violet Hill St. John's Wood London NW8 9EB

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The charity is constituted by a Declaration of Trust made on the 17 March 2000 with the object of educating the public in all matters relating to the Lowe Syndrome, to promote research into its causes and treatment, and to disseminate the results of such research.

Appointment, induction & training of Trustees

The trustees are appointed following a meeting with other trustees (at least 4 present). The trustee is given a formal letter of appointment. New trustees undergo an orientation to brief them on their legal obligations under charity law, the content of the Deed of Trust, the committee and decision making processes and the recent financial performance of the charity. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

Organisation

The charity is organised so that the Trustees meet regularly, both to discuss strategic planning and development of the trust, administer grants and run fundraising initiatives. There is now an (unpaid) volunteer Chief Executive Officer (CEO) Andrew Thomas appointed on 21st June 2019, husband of the late Lorraine Thomas who founded the charity. The CEO manages the charity and organises fundraising initiatives. Most of the activities of the charity are carried out by (unpaid) Trustees, Patrons, Medical Research Board members and Volunteers. The charity also now employs one part-time administrator to manage day-to-day charity functioning. Occasionally, temporary staff are contracted for specific tasks such as filing, gathering and disseminating information, managing mailshots, producing newsletters and leaflets, and maintaining the office laptops, printers and website.

Risk management

The trustees have a risk management strategy which comprises:-

• The charity will not take any financial risks. The charity will only commit expenditure covered by the actual bank balance.

• To minimise the risk of fraud, the charity has two different bank accounts, one a postal deposit account and a cheque account requiring two trustee's signatures.

• The charity maintains all important information on two external hosting sites.

OBJECTIVES AND ACTIVITIES

The goal of Lowe Syndrome Trust is to encourage medical research for a more effective treatment of Lowe syndrome, as well as to provide support and informational resources for medical professionals and families affected by Lowe syndrome, from the moment of diagnosis. Lowe syndrome, also known as oculocerebrorenal syndrome (OCRL), is a debilitating genetic condition which affects eyes, kidneys, muscles, normal development and neurological functioning.

The charity is voluntarily run by a family with a child, now an adult, with Lowe Syndrome, with minimal administrative overhead costs. All funds raised are used to further medical research and support Lowe syndrome families and medical professionals. The Charity also benefits from an unpaid medical and scientific advisory board that advises the charity on all medical and scientific aspects, such as peer review and recommendations as to the grant awards.

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The Lowe Syndrome Trust

Trustees' Annual Report (continued)

Year ended 30 June 2021

OBJECTIVES AND ACTIVITIES (continued)

The Trust is the only charity in the UK that supports children with Lowe syndrome and their families, and one of the key initiators and funders of global medical research into Lowe syndrome, covering different facets from animal models and genetic research to behavioural profile of Lowe syndrome.

The Charity is now a listed non-commercial Partner of the National Institute for Health Research (NIHR). Being part of NIHR network means that Lowe Syndrome Trust can award research funds as a result of open competition across England with high quality peer review. Further, fund research that is of clear value to the NHS and take account of the Department of Health and NHS priorities and needs in their research funding strategies.

Moreover, the Trust works alongside international affiliations, such as Lowe Syndrome Association (LSA) in the USA. LST is also in regular contact with and assist self-established family support groups, such as "Lowe Syndrome Parents" support group on Facebook.

PUBLIC BENEFIT

We have referred to the guidance contained in the Charity Commissions general guidance on public benefit when reviewing our aims and objectives and in planning our future services. In particular the board of trustees consider how our planned services will contribute to the aims and objectives they have set.

GRANT MAKING POLICY

The research strategy is each of the medical research project grants examines a different aspect of the disease. The medical researchers are encouraged to share information, genetic materials and collaborate together.

Grants are awarded on the advice of the Lowe Syndrome Trust Scientific Advisory Board of Professors. The grant applications are reviewed and peer reviewed. When all reviews are received, a meeting is set up when the Lowe scientific advisory board convenes to discuss the reviews and whether a grant should be funded. Trustees are informed accordingly. Grant award funding is typically committed over a 3 year budget period and payments are invoiced according to a schedule and conditional upon milestones having been achieved.

New Grants are advertised in "Nature" magazine and "Rdinfo". The committed grant funding liability is shown in the accounts.

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The Lowe Syndrome Trust

Trustees' Annual Report (continued)

Year ended 30 June 2021

MAJOR CHANGES AND SERIOUS INCIDENTS REPORTS

There were no major changes or incidents other than the charities activties continue to be partially suspended due to COVID restrictions.

ACHIEVEMENTS AND PERFORMANCE

MEDICAL RESEARCH AND ACTIVITIES

During the accounting period, the Trust awarded a new grant commitment of £50,000 to Perdue University USA on 14th May 2021. The research will be a 3 year project to 2023 carried out under Dr Ruben Aguilar, Assistant Head and Showalter Faculty Scholar, Department of Biological Sciences, Purdue University USA.

The grant to Purdue is to research ‘Reactivation of Ocrl1 function in Lowe Syndrome’, testing possible drugs in the laboratory to see if they could be used to help treat Lowe syndrome. Ocrl1 is the enzyme that is mutated in Lowe syndrome and it is thought specific drugs may be able to restore its function.

This award follows on from previous research projects the Lowe Syndrome Trust has contributed to for drug screening which showed certain compounds, including FDA approved drugs for other conditions, can also restore Ocrl1 kidney function. This project will assess the ability of compounds to biochemically restore the enzyme activity of a panel of Lowe Syndrome patient Ocrl1 variants and the effects upon various phenotypes.

These compounds include drugs such as Alpelisib originally designed for treating breast cancer. See Lowe Syndrome Trust news articles, 2021 Jenny Gallop Gurdon Institute, University of Cambridge & Zurich potential breakthrough on treatment for Lowe Syndrome Kidney disorder.

Dr Aguilar commented:

“Lowe Syndrome (LS) is a disease caused by mutations in the OCRL1 gene that unfortunately leads to the early death of affected children and has no cure. However, this project aims to change such scenario.

Our results indicate that a substantial number of patients bear Ocrl1 mutated proteins with intact enzymatic regions but locked in a non-functional structure. Therefore, we hypothesize that these Ocrl1 patient mutated proteins can re-acquire functionality by action of drugs able to stabilize their enzymatically active form. Indeed, our lab recently identified a group of compounds (including FDAapproved drugs) as able to restore the activity of different Ocrl1 patient mutants and to suppress a readout LS cellular phenotype. Nevertheless, their generalized applicability to multiple patient Ocrl1 variants and suppression of multiple phenotypes needs to be assessed and is the focus of this project. Therefore, here we will test the compounds’ ability to biochemically restore the enzyme activity of a panel of patient Ocrl1 variants and to suppress multiple patient phenotypes. This study will produce the first available Ocrl1-specific agents able to reinstate functionality; therefore, this project has a very high translational impact”.

The charity continued to fund and support research into Lowe syndrome. As such, the Lowe Syndrome Trust resumed support for the research group in Manchester University, whose goal is to investigate the zebrafish model of Lowe syndrome. This model recapitulates many symptoms seen in Lowe syndrome such as neurological and renal impairment, which allows researchers to explore the underlying mechanisms. Genetically modified strains of zebrafish are used to easily assess kidney function, which contributes to a screen that identifies drugs that may be used to treat Lowe syndrome. The explored drugs are already approved to use in humans, therefore any positive results from the screen can be rapidly translated into medical practice.

Other continuation grants include Telethon Institute in Naples, where researchers continue to investigate cellular mechanisms underlying Lowe syndrome. As such, their efforts focused on developing a "repositioning" pharmacological approach for the cure of Lowe syndrome, with identified drugs to be tested on the mouse model of the disease.

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The Lowe Syndrome Trust

Trustees' Annual Report (continued)

Year ended 30 June 2021

MEDICAL RESEARCH AND ACTIVITIES (continued)

Funding awarded during previous accounting periods also yielded a substantial number of scientific papers that were published during this accounting period in high-impact peer-reviewed journals, such as Nature. Sponsored research groups and labs, such as those at Purdue University and Imperial College London, continuously aid the progression of our knowledge and understanding of Lowe syndrome. The following articles are examples of published work produced with support and funding from Lowe Syndrome Trust:

• Madhivanan et al. (2020). Lowe syndrome patient cells display mTOR- and RhoGTPase-dependent phenotypes alleviated by rapamycin and statins. - Purdue University, USA.

• Berquez et al. (2020). The phosphoinositide 3-kinase inhibitor alpelisib restores actin organization and improves proximal tubule dysfunction in vitro and in a mouse model of Lowe syndrome and Dent disease. - University of Zurich, Switzerland.

• Preston et al. (2019). A role for OCRL in glomerular function and disease. - University of Manchester, UK.

• Yarwood et al. (2020). Membrane trafficking in health and disease. - University of Manchester, UK. - Reeh et al. (2020). Design, synthesis and evaluation of a tripodal receptor for phosphatidylinositol phosphates. - Imperial College London, UK.

FUNDRAISING

Lowe Syndrome Trust continuously works to raise awareness and funding for the charity, such as celebrity Patrons appearing on the TV. We regularly appeal to the government and various foundations and companies to raise donations and encourage the visibility of Lowe syndrome and of charity's work. Additionally, the Lowe syndrome community occasionally raises money for the Trust through Facebook fundraisers.

Lowe Syndrome Trust continues to benefit from a 5-year grant from the National Lottery Community Fund. The aim of the project is to forge a mutual support network of families, with the charity as the central hub, and also to raise awareness of the disease among medical professionals, social workers and the general public. The grant is spread across 5 years, and part of the funds is dedicated to increase the independent capabilities of the Trust.

FINANCIAL SUMMARY AND RESERVES

The statement of Financial Activities shows income for the year of £57,582 (2020 - £43,148) and total expenditure of £56,722 (2020 - £75,520). The net income of £860 (2020 Deficit - £32,372) is after the total grants paid during the year for medical research projects totalling £29,115 (2020 - £47,541).

The main Medical Research grant payments and expenditure during the year were to: Manchester University £13,213 Matties Italy £15,902

Reserves

The present level of funding and reserves are considered adequate to support the running of the charity for the year ahead and cover the committed research grants.

Of the charity's funds carried forward of £173,717 (2019 £206,089), a total of £50,000 (2019 £60,000) is designated as funds for continuing committed research grants leaving enough funding to continue the commitments of the charity of £96,361 (2019 £120,613).

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The Lowe Syndrome Trust

Trustees' Annual Report (continued)

Year ended 30 June 2021

PLANS FOR FUTURE PERIODS

The Trust continues to support families and medical professionals throughout the UK, Ireland and, in some instances, Europe. The Trust will continue with its fundraising campaigns to further Lowe Syndrome research.

With the Lottery Grant the Lowe Syndrome Trust now has additional resources allocated to support Lowe Syndrome Families. The charity is planning to develop a chatbot for the website, as well as to provide advice and create leaflets for families and medical professionals which will outline and explain the available support from the government and other authorities, including help for applying for lasting power of attorney (LPA), UK social services support for Special Educational Needs (SEN), Personal Independence Payment (PIP), Employment and Support Allowance (ESA), Disabled Badges, Carer's Allowance, Care Plans and Direct Payments.

The Charity is also planning to work with the Lowe Syndrome Association and Sanford Research Coordination of Rare Diseases at Sanford (CoRDS) in USA to establish a medical research data base specifically for Lowe syndrome for families to record their details and history of the disease.

CONCLUDING REMARKS

What is sometimes not always appreciated outside of medical science and research is that research into one disease, especially a rare inherited disease, often reveals important insights into other diseases, and this has been particularly true of Lowe syndrome research. A 'cure' is still the ultimate objective, but many benefits have accrued from the research that has been funded up to now, not least in establishing a community of researchers working together and collaborating closely.

Andrew Thomas, CEO Lowe Syndrome Trust

The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:

Mr. A. Thomas CEO / Charity Secretary

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The Lowe Syndrome Trust

Independent Examiner's Report to the Trustees of The Lowe Syndrome Trust

Year ended 30 June 2021

I report to the trustees on my examination of the financial statements of The Lowe Syndrome Trust ('the charity') for the year ended 30 June 2021.

Responsibilities and basis of report

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

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

Independent examiner's statement

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

1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

2. the financial statements do not accord with those records; or

3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

A.I. Groman FCA Independent Examiner

Groman and Company Chartered Accountants 5 Violet Hill St. John's Wood London NW8 9EB

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The Lowe Syndrome Trust

Statement of Financial Activities

Year ended 30 June 2021

			2021		2020
		Unrestricted	Restricted
		funds	funds	Total funds	Total funds
	Note	£	£	£	£
Income and endowments
Donations and legacies	4	25,593	31,966	57,559	42,820
Investment income	5	23	–	23	328
		----------------------------	----------------------------	----------------------------	----------------------------
Total income		25,616	31,966	57,582	43,148
		============================	============================	============================	============================
Expenditure
Expenditure on charitable activities	6,7	30,795	25,927	56,722	75,520
		----------------------------	----------------------------	----------------------------	----------------------------
Total expenditure		30,795	25,927	56,722	75,520
		============================	============================	============================	============================
		----------------------------	----------------------------	----------------------------	----------------------------
Net expenditure		(5,179)	6,039	860	(32,372)
		============================	============================	============================	============================
Other recognised gains and losses
		----------------------------	----------------------------	----------------------------	----------------------------
Net movement in funds		(5,179)	6,039	860	(32,372)
Reconciliation of funds
Total funds brought forward		146,361	27,356	173,717	206,089
		--------------------------------	----------------------------	--------------------------------	----------------------------
Total funds carried forward		141,182	33,395	174,577	173,717
		================================	============================	================================	============================

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 10 to 15 form part of these financial statements.

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The Lowe Syndrome Trust

Statement of Financial Position

30 June 2021

		2021		2020
	Note	£	£	£
Current assets
Debtors	12	–		43
Cash at bank and in hand		175,777		176,074
		--------------------------------		--------------------------------
		175,777		176,117
Creditors: amounts falling due within one year	13	(1,200)		(2,400)
		--------------------------------		--------------------------------
Net current assets			174,577	173,717
			--------------------------------	--------------------------------
Total assets less current liabilities			174,577	173,717
			--------------------------------	--------------------------------
Net assets			174,577	173,717
			================================	================================
Funds of the charity
Restricted funds			33,395	27,356
Unrestricted funds			141,182	146,361
			--------------------------------	--------------------------------
Total charity funds	14		174,577	173,717
			================================	================================

These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:

Mr. J. Laycock (Chair) Trustee

The notes on pages 10 to 15 form part of these financial statements.

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The Lowe Syndrome Trust

Notes to the Financial Statements

Year ended 30 June 2021

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 673 Finchley Road, London, NW2 2JP.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

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. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

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The Lowe Syndrome Trust

Notes to the Financial Statements (continued)

Year ended 30 June 2021

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• legacy income is recognised when receipt is probable and entitlement is established.

• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Equipment

• 33% straight line

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The Lowe Syndrome Trust

Notes to the Financial Statements (continued)

Year ended 30 June 2021

3. Accounting policies (continued)

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

4. Donations and legacies

4.	Donations and legacies
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2021
	Current year		£	£	£
	Donations
	Miscellaneous donations		5,320	–	5,320
	Major donors		20,000	–	20,000
	Grants
	Lottery Grant		–	31,966	31,966
	Just Giving.com		273	–	273
			----------------------------	----------------------------	----------------------------
			25,593	31,966	57,559
			============================	============================	============================
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2020
	Prior year		£	£	£
	Donations
	Miscellaneous donations		8,045	–	8,045
	Major donors		5,800	–	5,800
	Grants
	Lottery Grant		–	28,659	28,659
	Just Giving.com		316	–	361
			----------------------------	----------------------------	----------------------------
			14,161	28,659	42,820
			============================	============================	============================
5.	Investment income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2021	Funds	2020
		£	£	£	£
	Bank interest receivable	23	23	328	328
		==============	==============	==============	==============

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The Lowe Syndrome Trust

Notes to the Financial Statements (continued)

Year ended 30 June 2021

6. Expenditure on charitable activities by fund type

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2021
Current year	£	£	£
Grants payable	29,115	–	29,115
Support costs	1,680	25,927	27,607
	----------------------------	----------------------------	----------------------------
	30,795	25,927	56,722
	============================	============================	============================
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2020
Prior year	£	£	£
Grants payable	47,541	–	47,541
Support costs	1,200	26,779	27,979
	----------------------------	----------------------------	----------------------------
	48,741	26,779	75,520
	============================	============================	============================

7. Expenditure on charitable activities by activity type

	Activities
	undertaken	Support		Total funds	Total fund
	directly	costs		2021	2020
	£	£		£	£
Principal activity	–	25,927		25,927	26,779
Grants payable	29,115		–	29,115	47,541
Governance costs	–	1,680		1,680	1,200
	----------------------------	----------------------------		----------------------------	----------------------------
	29,115	27,607		56,722	75,520
	============================	============================		============================	============================
Independent examination fees
				2021	2020
				£	£
Fees payable to the independent examiner for:
Independent examination of the financial statements				1,680	1,200
				=======================	=======================
Staff costs
The total staff costs and employee benefits for the reporting period			are analysed as		follows:
				2021	2020
				£	£
Wages and salaries				16,426	12,532
				============================	=======================

8. Independent examination fees

9. Staff costs

The average head count of employees during the year was 1 (2020: 1).

No employee received employee benefits of more than £60,000 during the year (2020: Nil).

10. Trustee remuneration and expenses

SORP 2015 requires the following statement to be made:- no remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

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The Lowe Syndrome Trust

Notes to the Financial Statements (continued)

Year ended 30 June 2021

11. Tangible fixed assets

		Equipment	Total
		£	£
	Cost
	At 1 July 2020 and 30 June 2021	16,917	16,917
		============================	============================
	Depreciation
	At 1 July 2020 and 30 June 2021	16,917	16,917
		============================	============================
	Carrying amount
	At 30 June 2021	–	–
		============================	============================
	At 30 June 2020	–	–
		============================	============================
12.	Debtors
		2021	2020
		£	£
	Prepayments and accrued income	–	43
		==============	==============
13.	Creditors: amounts falling due within one year
		2021	2020
		£	£
	Accruals and deferred income	1,200	2,400
		=======================	=======================
14.	Analysis of charitable funds
	Unrestricted funds

Unrestricted funds
	At 1 Jul				At 30 Jun
	2020	Income	Expenditure	Transfers	2021
Current year	£	£	£	£	£
General Funds	46,361	25,616	(1,680)	(29,115)	41,182
Designated Fund
- Grants Payable	50,000	–	(29,115)	29,115	50,000
Designated Fund
- General office
administration	50,000	–	–	–	50,000
	--------------------------------	----------------------------	----------------------------	--------------	-------------------------------
	146,361	25,616	(30,795)	–	141,182
	================================	============================	============================	==============	================================
	At 1 Jul				At 30 Jun
	2019	Income	Expenditure	Transfers	2020
Prior year	£	£	£	£	£
General Funds	70,613	14,489	(1,200)	(37,541)	46,361
Designated Fund
- Grants Payable	60,000	–	(47,541)	37,541	50,000
Designated Fund
- General office
administration	50,000	–	–	–	50,000
	--------------------------------	----------------------------	----------------------------	--------------	--------------------------------
	180,613	14,489	(48,741)	–	146,361
	================================	============================	============================	==============	================================

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The Lowe Syndrome Trust

Notes to the Financial Statements (continued)

Year ended 30 June 2021

14. Analysis of charitable funds (continued)

Restricted funds

Restricted funds
	At 1 Jul				At 30 Jun
	2020	Income	Expenditure	Transfers	2021
Current year	£	£	£	£	£
Big Lottery Fund	27,356	31,966	(25,927)	–	33,395
	============================	============================	============================	==============	============================
	At 1 Jul				At 30 Jun
	2019	Income	Expenditure	Transfers	2020
Prior year	£	£	£	£	£
Big Lottery Fund	25,476	28,659	(26,779)	–	27,356
	============================	============================	============================	==============	============================

15. Analysis of net assets between funds

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2021
	£	£	£
Current assets	141,182	33,395	174,577
	===================================	============================	===================================
Prior year	Unrestricted	Restricted	Total Funds
	Funds	Funds	2020
	£	£	£
Current assets	146,361	27,356	173,717
	===================================	============================	===================================

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The Lowe Syndrome Trust

Management Information

Year ended 30 June 2021

The following pages do not form part of the financial statements.

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The Lowe Syndrome Trust

Detailed Statement of Financial Activities

Year ended 30 June 2021

	2021	2020
	£	£
Income and endowments
Donations and legacies
Miscellaneous donations	5,320	8,045
Major donors	20,000	5,800
Lottery Grant	31,966	28,659
Just Giving.com and CAF	273	316
	----------------------------	----------------------------
	57,559	42,820
	----------------------------	----------------------------
Investment income
Bank interest receivable	23	328
	--------------	--------------
	----------------------------	----------------------------
Total income	57,582	43,148
	============================	============================
Expenditure
Expenditure on charitable activities
Wages and salaries	16,426	12,532
Rent	4,160	8,148
Repairs and maintenance	–	–
Insurance	1,473	1,235
Travel costs	1,390	2,091
Legal and professional fees	1,680	1,200
Telephone	2,238	2,423
Other office costs	240	112
Grants payable	29,115	47,541
Computer and website costs	–	238
	----------------------------	----------------------------
	56,722	75,520
	----------------------------	----------------------------
	----------------------------	----------------------------
Total expenditure	56,722	75,520
	============================	============================
	----------------------------	----------------------------
NET INCOME / (EXPENDITURE)	860	(32,372)
	============================	============================

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The Lowe Syndrome Trust

Notes to the Detailed Statement of Financial Activities

Year ended 30 June 2021

	2021	2020
	£	£
Expenditure on charitable activities
Principal activity
Support costs
Wages and salaries	16,426	12,532
Rent and security	4,160	8,148
Repairs & renewals	–	–
Insurance	1,473	1,235
Travel costs	1,390	2,091
Telephone	2,238	2,423
Office costs	240	112
Computer & website costs	–	238
	----------------------------	----------------------------
	25,927	26,779
	----------------------------	----------------------------
Grants payable
Activities undertaken directly
Grants payable	29,115	47,541
	----------------------------	----------------------------
Governance costs
Governance costs - accountancy fees	1,680	1,200
Governance costs - costs of trustees' meetings	–	10
	-----------------------	-----------------------
	1,680	1,210
	-----------------------	-----------------------
	----------------------------	----------------------------
Expenditure on charitable activities	56,722	75,520
	============================	============================

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