MedEquip4Kids The Children’s health charity
Impact Report 2020-2021
1
Welcome
As the financial year began in April 2020, we were facing the first complete lockdown due to the COVID-19 pandemic, which was changing our lives in ways we could never have imagined. While it was an exceptionally difficult time for everyone, we also witnessed some wonderful examples of resilience, kindness and generosity.
For the past 35 years MedEquip4Kids has provided medical equipment and resources to improve care for babies and children. When the pandemic struck, we were determined to continue supporting our fabulous NHS hospitals as they battled the virus. We remained operational throughout the lockdown with minimal staff working from home to raise funds.
As you will see in the report, this meant we were able to fund vital equipment to treat children with breathing difficulties, suction machines to keep lungs clear, and more. Since the mental health of young people was affected by the closure of schools and loss of support networks, we supported Child and Adolescent Mental Health Services (CAMHS) by providing extra resources worth nearly £25,000 to benefit 38 CAMHS teams across the UK.
We simply could not have achieved this without the incredible response from our donors. When we sent out our Spring 2020 newsletter with an appeal for funds, we weren’t sure how it would fare at such an uncertain time. So we were delighted when our regular supporters rallied around and even gave us a little extra to help us equip our local hospitals. In addition, we have received amazing support from companies, charitable trusts and our volunteers.
Although we anticipate further challenges ahead, we are excited to start another year knowing that we can count on the support of our fantastic community, who, like us, are passionate about giving every child the best possible healthcare.
Thank you.
Brian White, Chairman Ghazala Baig, Chief Executive
Brian White, Chairman
Ghazala Baig, Chief Executive
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Making a difference
Physiotherapy chairs aid critical care recovery
Thanks to funding from VINCI Construction UK, new specialist physiotherapy chairs are benefiting the critical care unit at Royal Preston Hospital. The chairs are used by multiple patients daily for rehabilitation and recovery. The physiotherapy team told us: “The chairs are a new vital resource for the therapy team and nursing staff to be able to safely and comfortably sit extremely complex, dependant, critical care patients out of bed. The chairs allow us to begin the patient’s rehabilitation journey by providing appropriate postural support at the same time as pressure relief to allow the patient to build the muscle strength to hold themselves up against gravity. This allows them to begin to interact with their environment in a more normal way, enabling them to participate in meaningful activities such as meal times and activities of daily living.”
Breathing equipment supports hospitals through the winter
Hospitals have always faced increased pressure during winter as more patients are admitted with respiratory illnesses such as severe chest infection, asthma or bronchiolitis. In 2020 COVID-19 stretched existing resources even further, so we funded extra respiratory equipment for medical teams. This included two additional AIRVO Optiflow units for treating children at Royal Bolton Hospital.
Vein device makes blood tests easier
The AccuVein AV400 device illuminates veins below the skin, making them easier to locate and reducing stress and pain for babies and children when undergoing a blood test or cannulation. We provided an AccuVein AV400 for the outpatient’s unit at Sheffield Children’s Hospital, where it has been put to excellent use. Nurse Manager Donna Pooley says: “The team are really appreciative of this equipment as it now ensures staff can always wear gloves when trying to feel for veins that have previously been difficult to palpate, which given the current pandemic is even more essential.”
Creative kits for better mental health
This year we have delivered packages of creative and therapeutic resources to 38 Child and Adolescent Mental Health Services (CAMHS) nationwide. These included paints, pens, arts and crafts materials, toys and props for role-playing, feelings cards, games and more.
An art therapist told us: “Staff are unable to support young people face-to-face and many are now providing support by phone or video link. For the young people to engage with therapeutic creativity fully, we want to be able to send tailored kits of art materials/instruments to their homes.” Pictured above are the art kits we supplied to this service to help young people access the benefits of creativity at home.
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Paige gets comfort from new bed
We provided an Acheeva Graduate Bed for Foxfield School in Birkenhead, which is an adjustable bed that allows physically disabled pupils to work in a supported, balanced lying posture, giving them relief from sitting in a wheelchair all day.
15-year-old Paige Standen returned to school six weeks after her spinal surgery. Paige is registered blind, has seizures and global developmental delay. She is also non-verbal and wheelchairdependent. Paige needed surgery for her scoliosis, a condition which results in an S-shaped curve in the spine. She now has two titanium rods and numerous screws to straighten her up. Paige’s mum Michelle says: “The Acheeva is providing her and many other children with the opportunity to chill in comfort whilst interacting if they wish to.”
Portable lung suction machine helps Heidi enjoy the outdoors
We funded new lung suction machines for ISCAN (Integrated Service for Children with Additional Needs) in Tameside and Glossop, which supports 655 children in the community with disabilities and complex health needs. Some of the children require regular suction treatment to keep their lungs clear of mucus and allow them to breathe more easily.
Six-year-old Heidi Land has complex needs as a result of hypoxic-ischaemic encephalopathy (HIE) at birth. HIE occurs when there is a lack of oxygen and blood flow to the brain, during or shortly after labour, and can cause injury to the brain.
Heidi’s mum Sarah says: “Having the new suction machine has been great for us and Heidi. It’s much smaller and less noisy than the other ones, and so makes it easier to get out (when Covid allows!) Heidi has complex needs so this new suction machine fits in to a bag on her chair really easily. She needs suction several times an hour, so having it handy is necessary for us.
“We managed a trip to the seaside last summer. Heidi loves fresh air and being outdoors. The suction machine wasn’t too heavy as we took Heidi’s wheelchair across the sand dunes! It might not sound much to some people, but it makes a huge difference to us.”
Hummingbird Project to return to schools
The Hummingbird Project, our six-week course to help young people improve their happiness and wellbeing, has faced a tough year with schools being closed for much of the time. We have continued to deliver the programme where possible, and are delighted to report that the project is funded for the next academic year, thanks to a further grant from the Cheshire Community Fund. We are also grateful to the Charities Aid Foundation (CAF) for supporting the development of our new programme for primary schools.
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Projects completed 2020 - 2021
Fairfield General Hospital Children’s Outpatients Mobile Sensory Units RAEI Wigan Neonatal Unit Bilisoft Phototherapy Units for Home Use Macclesfield General Louby Lou visits 2019-20
Stepping Hill Tree House Unit Louby Lou Visits 2019-20 Royal Bolton Hospital E5 Ward Saturation Monitors
Royal Bolton Hospital E5 Ward Otoscopes
Wythenshawe Starlight Ward wireless Spot Monitor (3rd)
Tameside & Glossop ISCAN - 2 x Suction Machines Graduate Acheeva Bed Foxfield School, Wirral
Royal Bolton Hospital Blood Pressure Monitors x 2
North Manchester General Hospital Croyde Fold Away Beds Royal Bolton Hospital Airvo 2 Units
Royal Preston Hospital Children’s Clinic Veinfinder Tameside & Glossop ISCAN 2 x Suction machines ( 2nd 2 ) Macclesfield Maternity Unit 10 x Electronic Fetal Doppler
CAMHS : Resources including books, toys and games to support Child and Adolescent Mental Health Services were supplied to services nationwide including:
Blackpool London Sheffield Cambridge Liverpool Skelmersdale Eastleigh Melksham Tameside & Edinburgh Newcastle Glossop Fleetwood Preston Wirral Fylde & Wyre Prestwich York Glasgow Redcar Lancashire & Renfrewshire Morecome Sefton
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At a glance
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39– hospitals helped
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29– CAMHS teams helped
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43– projects delivered
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82168 –number of children to directly benefit from our work
----- Start of picture text -----
This year we
have saved
£11,970
through charity
discounts and
savings
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Thank you
We are always grateful for the support we receive from companies, trusts and foundations, but this year it has been appreciated more than ever. We would like to mention the following:
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The Trafford Centre selected us as one of their three charities to support in 2020. Thank you to all the volunteers who helped us count coins from the Trafford Centre’s fountains.
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The Zochonis Charitable Trust provided a grant of £15,000 for parents’ beds at North Manchester General Hospital
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The Hick Charitable Trust helped us deliver medical equipment in Macclesfield, Wigan and Preston.
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The Leri Foundation supported our Hummingbird Project for a second year. • Morrison’s Foundation donated £13,500 and Sage UK Ltd donated £8,500 to provide mental health resources for CAMHS during the pandemic.
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The B&Q Foundation are funding murals for Ormskirk and District General Hospital.
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Tesco Bags of Help and the Co-op Community Fund have funded a range of medical equipment for North West hospitals.
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Mark Evans and his 10-year-old twins, Ruben and Elena Evans-Guillén, have given us amazing community fundraising support this year.
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REGISTERED COMPANY NUMBER: 04655610 (England and Wales) REGISTERED CHARITY NUMBER: 01102830
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2021
for
MedEquip4Kids Limited
MedEquip4Kids Limited
Contents of the Financial Statements for the Year Ended 31 March 2021
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 to 7 |
| Notes to the Financial Statements | 8 to 15 |
MedEquip4Kids Limited
Reference and Administrative Details for the Year Ended 31 March 2021
| TRUSTEES | E Bowe (appointed 15/12/2020) |
|---|---|
| I Harlow | |
| R A Jameson | |
| D I Joseph | |
| S Pfeffer | |
| S J Whitaker | |
| B J White Chairman | |
| A C Wilson Deputy Chairman | |
| COMPANY SECRETARY | G Baig |
| REGISTERED OFFICE | Church House |
| 90 Deansgate | |
| Manchester | |
| M3 2GP | |
| REGISTERED COMPANY | 04655610 (England and Wales) |
| NUMBER | |
| REGISTERED CHARITY | 01102830 |
| NUMBER | |
| INDEPENDENT EXAMINER | Haines Watts |
| Chartered Accountants | |
| Sterling House | |
| 1 Sheepscar Court | |
| Meanwood Road | |
| Leeds | |
| West Yorkshire | |
| LS7 2BB | |
| SOLICITORS | Gunner Cooke |
| 53 King Street | |
| Manchester | |
| M2 4QL | |
| BANKERS | Barclays Bank plc |
| Leicester | |
| Leicestershire | |
| LE87 2BB |
Page 1
MedEquip4Kids Limited
Report of the Trustees for the Year Ended 31 March 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
INCORPORATION
The company was incorporated on 4th February 2003 as Boxwall Limited. It changed its name to Children's Hospital Appeals Trust Limited on 10 April 2003. On 7th June 2004 it changed its name to MedEquip4Kids Limited.
The Directors/Trustees are responsible for the governance of the organisation and are active in all operational aspects of strategic management. Major policy decisions are decided at full directors/trustees' meetings.
HOW OUR ACTIVITIES ACHIEVE PUBLIC BENEFIT
The Charity carries out a wide range of activities in pursuance of its charitable aims. The Trustees consider that these activities detailed below and in the IMPACT Report provide benefit to the public.
DESCRIPTION OF ORGANISATION
The charity is run by a team of volunteer trustees who manage the direction and policies of the charity. The day to day management is run by the Chief Executive who is supported by a team of administrative staff and volunteers.
OBJECTIVES AND ACTIVITIES
MedEquip4Kids has a long track record of improving children's health by providing equipment not available from limited NHS resources. After supporting Child and Adolescent Mental Health Services (CAMHS) for a number of years, we decided to get more directly involved in preventing mental health problems in children and young people by delivering wellbeing education in schools.
The objectives of the charity are to promote:
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the relief of sickness and the preservation and protection of health care of babies, children and young people by the provision of equipment.
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to further such other charitable purposes as the trustees consider appropriate.
In the furtherance of these charitable objectives, the charity is to raise funds and invite and receive from any person or persons whatsoever by way of subscription, donation and otherwise, provided that the charity does not undertake any permanent trading activities in raising funds for their charitable objectives.
INVESTMENT POLICY AND RETURN
Under the governing document the charity has the power to make any investment which the trustees see fit. The trustees have considered the most appropriate policy for investing funds and have found that placing funds on deposit meets their requirements given the secure nature and accessibility of the funds. The trustees consider the return to be reasonable given the low risk nature of the deposits. However, this overall low risk policy is subject to periodic review.
Donated investments are held and realised at an appropriate time.
INFORMATION TECHNOLOGY
The company continues to invest in technology suitable to improve its performance in the charity sector.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Charity is constituted as a company limited by guarantee and its memorandum and articles of association are its primary governing documents.
Page 2
MedEquip4Kids Limited
Report of the Trustees
for the Year Ended 31 March 2021
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of MedEquip4Kids Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website.
Approved by order of the board of trustees on 16 December 2021 and signed on its behalf by:
A C Wilson - Trustee
Page 3
Independent Examiner's Report to the Trustees of MedEquip4Kids Limited
Independent examiner's report to the trustees of MedEquip4Kids Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 March 2021.
Responsibilities and basis of report
As the charity's trustees (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the 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 your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ICAEW which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Matthew Barton BA (Hons) FCA CTA ICAEW Haines Watts Chartered Accountants Sterling House 1 Sheepscar Court Meanwood Road Leeds West Yorkshire LS7 2BB
Date: .............................................
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MedEquip4Kids Limited
Statement of Financial Activities for the Year Ended 31 March 2021
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 153,645 Investment income 3 1,515 Other income 118,211 Total 273,371 EXPENDITURE ON Raising funds 4 49,584 Charitable activities 5 Direct Charitable Expenditure 194,772 Governance Costs 9,921 Other 10 Total 254,287 NET INCOME 19,084 RECONCILIATION OF FUNDS Total funds brought forward 131,888 TOTAL FUNDS CARRIED FORWARD 150,972 |
Restricted fund £ 163,717 - - 163,717 - 111,613 - - 111,613 52,104 87,895 139,999 |
2021 Total funds £ 317,362 1,515 118,211 437,088 49,584 306,385 9,921 10 365,900 71,188 219,783 290,971 |
2020 Total funds £ 482,768 309 - |
|---|---|---|---|
| 483,077 152,800 282,868 23,140 - |
|||
| 458,808 | |||
| 24,269 195,514 |
|||
| 219,783 |
The notes form part of these financial statements
Page 5
MedEquip4Kids Limited
Balance Sheet
31 March 2021
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 11 - CURRENT ASSETS Debtors 12 183 Cash at bank and in hand 159,609 159,792 CREDITORS Amounts falling due within one year 13 (8,820) NET CURRENT ASSETS 150,972 TOTAL ASSETS LESS CURRENT LIABILITIES 150,972 NET ASSETS 150,972 FUNDS 14 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ - - 139,999 139,999 - 139,999 139,999 139,999 |
2021 Total funds £ - 183 299,608 299,791 (8,820) 290,971 290,971 290,971 150,972 139,999 290,971 |
2020 Total funds £ 10 1,500 231,957 233,457 (13,684) 219,773 219,783 219,783 131,888 87,895 219,783 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
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MedEquip4Kids Limited
Balance Sheet - continued 31 March 2021
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 16 December 2021 and were signed on its behalf by:
A C Wilson - Trustee
The notes form part of these financial statements
Page 7
MedEquip4Kids Limited
Notes to the Financial Statements for the Year Ended 31 March 2021
1. GENERAL INFORMATION
Medequip4kids Limited is a charitable company, limited by guarantee, incorporated in England and Wales under the company number 04655610 and charity number 1102830.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
COVID-19
The financial statements have been prepared on a going concern basis. The Trustees have reviewed and considered relevant information in making their assessment. In particular, in response to the COVID-19 pandemic, the Trustees have taken into account the impact on the charity and possible scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Trustees have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.
Company status
The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the company which is the amount the company 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.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
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MedEquip4Kids Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
2. ACCOUNTING POLICIES - continued
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Direct charitable activities and governance costs are support costs and costs relating to the governance of the company apportioned to charitable activities.
Tangible fixed assets
Tangible fixed assets are carried at cost.
Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Office equipment and furniture Over 6 years
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Debtors
Prepayments are valued at the amount prepaid net of any trade discounts due.
Creditors
Short term creditors are measured at transaction price. Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects risk specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.
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MedEquip4Kids Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
2. ACCOUNTING POLICIES - continued
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Financial instruments
The company 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 at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective method.
Government grants
Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities incorporating income and expenditure account over the expected useful lives of the assets concerned. Other grants are credited to the Statement of inancial activities incorporating income and expenditure account as the related expenditure is incurred.
3. INVESTMENT INCOME
4.
| Bank interest received RAISING FUNDS Raising donations and legacies Staff costs Newsletter and printing Committees, groups and associations Corporate and charitable trusts Donated prizes/goods Support costs |
2021 £ 1,515 2021 £ 46,878 2,706 - - - - 49,584 |
2020 £ 309 2020 £ 81,392 2,551 3,522 21,881 4,988 38,466 |
2020 £ 309 |
|---|---|---|---|
| 152,800 |
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MedEquip4Kids Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
5. CHARITABLE ACTIVITIES COSTS
| 5. CHARITABLE ACTIVITIES COSTS |
|||
|---|---|---|---|
| Direct Charitable Expenditure Governance Costs 6. SUPPORT COSTS Management Finance £ £ Direct Charitable Expenditure 183,415 86 |
Direct Costs £ 106,714 9,921 116,635 Human resources £ 4,200 |
Support costs (see note 6) £ 199,671 - 199,671 Other £ 11,970 |
Totals £ 306,385 9,921 |
| 316,306 | |||
| Totals £ 199,671 |
7. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Depreciation - owned assets | 10 | - |
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
9. STAFF COSTS
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 201,603 | 230,544 |
| Social security costs | 17,633 | 21,283 |
| Other pension costs | 1,657 | 10,213 |
| 220,893 | 262,040 | |
The average monthly number of employees during the year was as follows:
| Services Fundraising and publicity Management and administration |
2021 4 3 2 9 |
2020 5 3 2 |
|---|---|---|
| 10 |
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MedEquip4Kids Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
9. STAFF COSTS - continued
No employees received emoluments in excess of £60,000.
| 10. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | YEAR ENDED | YEAR ENDED | 31/03/20 |
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| fund | fund | funds | |||
| £ | £ | £ | |||
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 286,926 | 195,842 | 482,768 | ||
| Investment income | 309 | - | 309 | ||
| Total | 287,235 | 195,842 | 483,077 | ||
| EXPENDITURE ON | |||||
| Raising funds | 147,812 | 4,988 | 152,800 | ||
| Charitable activities | |||||
| Direct Charitable Expenditure | 99,136 | 183,732 | 282,868 | ||
| Governance Costs | 23,140 | - | 23,140 | ||
| Total | 270,088 | 188,720 | 458,808 | ||
| NET INCOME | 17,147 | 7,122 | 24,269 | ||
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 114,741 | 80,773 | 195,514 | ||
| TOTAL FUNDS CARRIED FORWARD | 131,888 | 87,895 | 219,783 | ||
| 11. | TANGIBLE FIXED ASSETS | ||||
| Fixtures | |||||
| and | Office | ||||
| fittings | equipment | Totals | |||
| £ | £ | £ | |||
| COST | |||||
| At 1 April 2020 and 31 March 2021 | 365 | 11,509 | 11,874 | ||
| DEPRECIATION | |||||
| At 1 April 2020 | 364 | 11,500 | 11,864 | ||
| Charge for year | 1 | 9 | 10 | ||
| At 31 March 2021 | 365 | 11,509 | 11,874 | ||
| NET BOOK VALUE | |||||
| At 31 March 2021 | - | - | - | ||
| At 31 March 2020 | 1 | 9 | 10 |
Page 12
MedEquip4Kids Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
||||
|---|---|---|---|---|
| Other debtors Prepayments and accrued income 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Social security and other taxes Accruals and deferred income |
2021 £ 183 - 183 2021 £ 6,820 2,000 8,820 |
2020 £ - 1,500 1,500 2020 £ 10,642 3,042 |
2020 £ - 1,500 |
|
| 1,500 | ||||
| 13,684 |
Page 13
MedEquip4Kids Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
14. MOVEMENT IN FUNDS
| Balance at 01/04/2020 |
Incoming | Outgoing | Transfer | Balance at 31/03/2021 |
|
|---|---|---|---|---|---|
| Blackpool TFT Continence | 531 | 0 | 531 | 0 | 0 |
| Burnley Childrens Outpatients | 6,645 | 0 | 0 | 0 | 6,645 |
| CAMHS | 10,875 | 61,678 | 21,887 | 0 | 50,666 |
| Faifield Childrens Outpatient Sensory |
6,015 | 4,096 | 10,111 | 0 | 0 |
| Foxfield School Graduate Acheeva Bed |
0 | 4,940 | 4,940 | 0 | 0 |
| Hummingbird Project | 29,086 | 38,618 | 12,232 | 0 | 55,472 |
| Kendal Urgent Treatment Centre | 2,162 | 200 | 0 | 0 | 2,362 |
| Macclesfield General - Louby Lou | 1,770 | 0 | 390 | 0 | 1,380 |
| Macclesfield General - Maternity Fetal Dopplers |
0 | 4,670 | 4,670 | 0 | 0 |
| Macclesfield General - Srynge Drivers |
5,305 | 0 | 0 | 0 | 5,305 |
| NMGH Fold Away Beds | 0 | 10,905 | 11,475 | 571 | 0 |
| Ormskirk & District Paediatric Wall Murals |
0 | 5,800 | 0 | 0 | 5,800 |
| Panda Unit Salford Diagnostic Equipment |
6,258 | 0 | 0 | (6,258) | 0 |
| Royal Bolton Hospital - LL | 1,800 | 0 | 750 | 0 | 1,050 |
| Royal Bolton Hospital Airvo 2 units | 0 | 5,000 | 5,000 | 0 | 0 |
| Royal Bolton Hospital E5 Monitor/Otoscopes |
5,984 | 0 | 4,816 | (1,168) | 0 |
| Royal Bolton Hospital Blood Pressure Monitor |
0 | 2,000 | 2,376 | 376 | 0 |
| Sheffield Children Accuveinav400 | 4,250 | 0 | 4,490 | 240 | 0 |
| Rose Preston Hospital Clinic Veinfinder |
0 | 2,795 | 2,813 | 18 | 0 |
| Stepping Hill Hospital Treehouse LL |
1,240 | 0 | 390 | 300 | 1,150 |
| Tameside & Glossop ISCAN | 1,040 | 2,000 | 2,836 | (204) | 0 |
| Warrington and Halton NHS Telemetry Unit |
800 | 1,997 | 0 | 0 | 2,797 |
| Wigan Neo Natal | 2,239 | 0 | 1,494 | 0 | 745 |
| Wigan Neo Natal - Bilisoft | 0 | 7,048 | 7,048 | 0 | 0 |
| William Harvey Hospital Sensory Project |
500 | 0 | 0 | 0 | 500 |
| Wythenshawe Hospital - Starlight | 1,395 | 0 | 1,395 | 0 | 0 |
| Gifts in kind and savings achieved | 0 | 11,970 | 11,970 | 0 | 0 |
| RESTRICTED FUNDS | 87,895 | 163,717 | 111,614 | (6,125) | 133,873 |
| UNRESTRICTED FUNDS | 131,887 | 273,370 | 254,286 | 6,125 | 157,096 |
| 219,782 | 437,087 | 365,900 | - | 290,969 | |
The transfer of funds to unrestricted from Panda Unit Salford Diagnostic Equipment is due to project withdrawal and no other alternative for fund spending.
Page 14
MedEquip4Kids Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
15. RELATED PARTY TRANSACTIONS
Mr D Joseph a trustee of the charity is a partner at Gunner Cooke. The company paid £600 (2020: £1,350) to that firm in respect of HR services provided to the charity.
No further transactions with related parties were undertaken such as are required to be disclosed under SORP 2015 (FRS 102).
Page 15
REGISTERED COMPANY NUMBER: 04655610 (England and Wales) REGISTERED CHARITY NUMBER: 01102830
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2021
for
MedEquip4Kids Limited
MedEquip4Kids Limited
Contents of the Financial Statements for the Year Ended 31 March 2021
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 to 7 |
| Notes to the Financial Statements | 8 to 15 |
MedEquip4Kids Limited
Reference and Administrative Details for the Year Ended 31 March 2021
| TRUSTEES | E Bowe (appointed 15/12/2020) |
|---|---|
| I Harlow | |
| R A Jameson | |
| D I Joseph | |
| S Pfeffer | |
| S J Whitaker | |
| B J White Chairman | |
| A C Wilson Deputy Chairman | |
| COMPANY SECRETARY | G Baig |
| REGISTERED OFFICE | Church House |
| 90 Deansgate | |
| Manchester | |
| M3 2GP | |
| REGISTERED COMPANY | 04655610 (England and Wales) |
| NUMBER | |
| REGISTERED CHARITY | 01102830 |
| NUMBER | |
| INDEPENDENT EXAMINER | Haines Watts |
| Chartered Accountants | |
| Sterling House | |
| 1 Sheepscar Court | |
| Meanwood Road | |
| Leeds | |
| West Yorkshire | |
| LS7 2BB | |
| SOLICITORS | Gunner Cooke |
| 53 King Street | |
| Manchester | |
| M2 4QL | |
| BANKERS | Barclays Bank plc |
| Leicester | |
| Leicestershire | |
| LE87 2BB |
Page 1
MedEquip4Kids Limited
Report of the Trustees for the Year Ended 31 March 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
INCORPORATION
The company was incorporated on 4th February 2003 as Boxwall Limited. It changed its name to Children's Hospital Appeals Trust Limited on 10 April 2003. On 7th June 2004 it changed its name to MedEquip4Kids Limited.
The Directors/Trustees are responsible for the governance of the organisation and are active in all operational aspects of strategic management. Major policy decisions are decided at full directors/trustees' meetings.
HOW OUR ACTIVITIES ACHIEVE PUBLIC BENEFIT
The Charity carries out a wide range of activities in pursuance of its charitable aims. The Trustees consider that these activities detailed below and in the IMPACT Report provide benefit to the public.
DESCRIPTION OF ORGANISATION
The charity is run by a team of volunteer trustees who manage the direction and policies of the charity. The day to day management is run by the Chief Executive who is supported by a team of administrative staff and volunteers.
OBJECTIVES AND ACTIVITIES
MedEquip4Kids has a long track record of improving children's health by providing equipment not available from limited NHS resources. After supporting Child and Adolescent Mental Health Services (CAMHS) for a number of years, we decided to get more directly involved in preventing mental health problems in children and young people by delivering wellbeing education in schools.
The objectives of the charity are to promote:
-
the relief of sickness and the preservation and protection of health care of babies, children and young people by the provision of equipment.
-
to further such other charitable purposes as the trustees consider appropriate.
In the furtherance of these charitable objectives, the charity is to raise funds and invite and receive from any person or persons whatsoever by way of subscription, donation and otherwise, provided that the charity does not undertake any permanent trading activities in raising funds for their charitable objectives.
INVESTMENT POLICY AND RETURN
Under the governing document the charity has the power to make any investment which the trustees see fit. The trustees have considered the most appropriate policy for investing funds and have found that placing funds on deposit meets their requirements given the secure nature and accessibility of the funds. The trustees consider the return to be reasonable given the low risk nature of the deposits. However, this overall low risk policy is subject to periodic review.
Donated investments are held and realised at an appropriate time.
INFORMATION TECHNOLOGY
The company continues to invest in technology suitable to improve its performance in the charity sector.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Charity is constituted as a company limited by guarantee and its memorandum and articles of association are its primary governing documents.
Page 2
MedEquip4Kids Limited
Report of the Trustees
for the Year Ended 31 March 2021
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of MedEquip4Kids Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website.
Approved by order of the board of trustees on 16 December 2021 and signed on its behalf by:
A C Wilson - Trustee
Page 3
Independent Examiner's Report to the Trustees of MedEquip4Kids Limited
Independent examiner's report to the trustees of MedEquip4Kids Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 March 2021.
Responsibilities and basis of report
As the charity's trustees (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the 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 your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ICAEW which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Matthew Barton BA (Hons) FCA CTA ICAEW Haines Watts Chartered Accountants Sterling House 1 Sheepscar Court Meanwood Road Leeds West Yorkshire LS7 2BB
Date: .............................................
Page 4
MedEquip4Kids Limited
Statement of Financial Activities for the Year Ended 31 March 2021
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 153,645 Investment income 3 1,515 Other income 118,211 Total 273,371 EXPENDITURE ON Raising funds 4 49,584 Charitable activities 5 Direct Charitable Expenditure 194,772 Governance Costs 9,921 Other 10 Total 254,287 NET INCOME 19,084 RECONCILIATION OF FUNDS Total funds brought forward 131,888 TOTAL FUNDS CARRIED FORWARD 150,972 |
Restricted fund £ 163,717 - - 163,717 - 111,613 - - 111,613 52,104 87,895 139,999 |
2021 Total funds £ 317,362 1,515 118,211 437,088 49,584 306,385 9,921 10 365,900 71,188 219,783 290,971 |
2020 Total funds £ 482,768 309 - |
|---|---|---|---|
| 483,077 152,800 282,868 23,140 - |
|||
| 458,808 | |||
| 24,269 195,514 |
|||
| 219,783 |
The notes form part of these financial statements
Page 5
MedEquip4Kids Limited
Balance Sheet
31 March 2021
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 11 - CURRENT ASSETS Debtors 12 183 Cash at bank and in hand 159,609 159,792 CREDITORS Amounts falling due within one year 13 (8,820) NET CURRENT ASSETS 150,972 TOTAL ASSETS LESS CURRENT LIABILITIES 150,972 NET ASSETS 150,972 FUNDS 14 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ - - 139,999 139,999 - 139,999 139,999 139,999 |
2021 Total funds £ - 183 299,608 299,791 (8,820) 290,971 290,971 290,971 150,972 139,999 290,971 |
2020 Total funds £ 10 1,500 231,957 233,457 (13,684) 219,773 219,783 219,783 131,888 87,895 219,783 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 6
MedEquip4Kids Limited
Balance Sheet - continued 31 March 2021
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 16 December 2021 and were signed on its behalf by:
A C Wilson - Trustee
The notes form part of these financial statements
Page 7
MedEquip4Kids Limited
Notes to the Financial Statements for the Year Ended 31 March 2021
1. GENERAL INFORMATION
Medequip4kids Limited is a charitable company, limited by guarantee, incorporated in England and Wales under the company number 04655610 and charity number 1102830.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
COVID-19
The financial statements have been prepared on a going concern basis. The Trustees have reviewed and considered relevant information in making their assessment. In particular, in response to the COVID-19 pandemic, the Trustees have taken into account the impact on the charity and possible scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Trustees have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.
Company status
The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the company which is the amount the company 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.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Page 8
MedEquip4Kids Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
2. ACCOUNTING POLICIES - continued
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Direct charitable activities and governance costs are support costs and costs relating to the governance of the company apportioned to charitable activities.
Tangible fixed assets
Tangible fixed assets are carried at cost.
Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Office equipment and furniture Over 6 years
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Debtors
Prepayments are valued at the amount prepaid net of any trade discounts due.
Creditors
Short term creditors are measured at transaction price. Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects risk specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.
Page 9
MedEquip4Kids Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
2. ACCOUNTING POLICIES - continued
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Financial instruments
The company 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 at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective method.
Government grants
Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities incorporating income and expenditure account over the expected useful lives of the assets concerned. Other grants are credited to the Statement of inancial activities incorporating income and expenditure account as the related expenditure is incurred.
3. INVESTMENT INCOME
4.
| Bank interest received RAISING FUNDS Raising donations and legacies Staff costs Newsletter and printing Committees, groups and associations Corporate and charitable trusts Donated prizes/goods Support costs |
2021 £ 1,515 2021 £ 46,878 2,706 - - - - 49,584 |
2020 £ 309 2020 £ 81,392 2,551 3,522 21,881 4,988 38,466 |
2020 £ 309 |
|---|---|---|---|
| 152,800 |
Page 10
MedEquip4Kids Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
5. CHARITABLE ACTIVITIES COSTS
| 5. CHARITABLE ACTIVITIES COSTS |
|||
|---|---|---|---|
| Direct Charitable Expenditure Governance Costs 6. SUPPORT COSTS Management Finance £ £ Direct Charitable Expenditure 183,415 86 |
Direct Costs £ 106,714 9,921 116,635 Human resources £ 4,200 |
Support costs (see note 6) £ 199,671 - 199,671 Other £ 11,970 |
Totals £ 306,385 9,921 |
| 316,306 | |||
| Totals £ 199,671 |
7. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Depreciation - owned assets | 10 | - |
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
9. STAFF COSTS
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 201,603 | 230,544 |
| Social security costs | 17,633 | 21,283 |
| Other pension costs | 1,657 | 10,213 |
| 220,893 | 262,040 | |
The average monthly number of employees during the year was as follows:
| Services Fundraising and publicity Management and administration |
2021 4 3 2 9 |
2020 5 3 2 |
|---|---|---|
| 10 |
Page 11
MedEquip4Kids Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
9. STAFF COSTS - continued
No employees received emoluments in excess of £60,000.
| 10. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | YEAR ENDED | YEAR ENDED | 31/03/20 |
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| fund | fund | funds | |||
| £ | £ | £ | |||
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 286,926 | 195,842 | 482,768 | ||
| Investment income | 309 | - | 309 | ||
| Total | 287,235 | 195,842 | 483,077 | ||
| EXPENDITURE ON | |||||
| Raising funds | 147,812 | 4,988 | 152,800 | ||
| Charitable activities | |||||
| Direct Charitable Expenditure | 99,136 | 183,732 | 282,868 | ||
| Governance Costs | 23,140 | - | 23,140 | ||
| Total | 270,088 | 188,720 | 458,808 | ||
| NET INCOME | 17,147 | 7,122 | 24,269 | ||
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 114,741 | 80,773 | 195,514 | ||
| TOTAL FUNDS CARRIED FORWARD | 131,888 | 87,895 | 219,783 | ||
| 11. | TANGIBLE FIXED ASSETS | ||||
| Fixtures | |||||
| and | Office | ||||
| fittings | equipment | Totals | |||
| £ | £ | £ | |||
| COST | |||||
| At 1 April 2020 and 31 March 2021 | 365 | 11,509 | 11,874 | ||
| DEPRECIATION | |||||
| At 1 April 2020 | 364 | 11,500 | 11,864 | ||
| Charge for year | 1 | 9 | 10 | ||
| At 31 March 2021 | 365 | 11,509 | 11,874 | ||
| NET BOOK VALUE | |||||
| At 31 March 2021 | - | - | - | ||
| At 31 March 2020 | 1 | 9 | 10 |
Page 12
MedEquip4Kids Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
||||
|---|---|---|---|---|
| Other debtors Prepayments and accrued income 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Social security and other taxes Accruals and deferred income |
2021 £ 183 - 183 2021 £ 6,820 2,000 8,820 |
2020 £ - 1,500 1,500 2020 £ 10,642 3,042 |
2020 £ - 1,500 |
|
| 1,500 | ||||
| 13,684 |
Page 13
MedEquip4Kids Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
14. MOVEMENT IN FUNDS
| Balance at 01/04/2020 |
Incoming | Outgoing | Transfer | Balance at 31/03/2021 |
|
|---|---|---|---|---|---|
| Blackpool TFT Continence | 531 | 0 | 531 | 0 | 0 |
| Burnley Childrens Outpatients | 6,645 | 0 | 0 | 0 | 6,645 |
| CAMHS | 10,875 | 61,678 | 21,887 | 0 | 50,666 |
| Faifield Childrens Outpatient Sensory |
6,015 | 4,096 | 10,111 | 0 | 0 |
| Foxfield School Graduate Acheeva Bed |
0 | 4,940 | 4,940 | 0 | 0 |
| Hummingbird Project | 29,086 | 38,618 | 12,232 | 0 | 55,472 |
| Kendal Urgent Treatment Centre | 2,162 | 200 | 0 | 0 | 2,362 |
| Macclesfield General - Louby Lou | 1,770 | 0 | 390 | 0 | 1,380 |
| Macclesfield General - Maternity Fetal Dopplers |
0 | 4,670 | 4,670 | 0 | 0 |
| Macclesfield General - Srynge Drivers |
5,305 | 0 | 0 | 0 | 5,305 |
| NMGH Fold Away Beds | 0 | 10,905 | 11,475 | 571 | 0 |
| Ormskirk & District Paediatric Wall Murals |
0 | 5,800 | 0 | 0 | 5,800 |
| Panda Unit Salford Diagnostic Equipment |
6,258 | 0 | 0 | (6,258) | 0 |
| Royal Bolton Hospital - LL | 1,800 | 0 | 750 | 0 | 1,050 |
| Royal Bolton Hospital Airvo 2 units | 0 | 5,000 | 5,000 | 0 | 0 |
| Royal Bolton Hospital E5 Monitor/Otoscopes |
5,984 | 0 | 4,816 | (1,168) | 0 |
| Royal Bolton Hospital Blood Pressure Monitor |
0 | 2,000 | 2,376 | 376 | 0 |
| Sheffield Children Accuveinav400 | 4,250 | 0 | 4,490 | 240 | 0 |
| Rose Preston Hospital Clinic Veinfinder |
0 | 2,795 | 2,813 | 18 | 0 |
| Stepping Hill Hospital Treehouse LL |
1,240 | 0 | 390 | 300 | 1,150 |
| Tameside & Glossop ISCAN | 1,040 | 2,000 | 2,836 | (204) | 0 |
| Warrington and Halton NHS Telemetry Unit |
800 | 1,997 | 0 | 0 | 2,797 |
| Wigan Neo Natal | 2,239 | 0 | 1,494 | 0 | 745 |
| Wigan Neo Natal - Bilisoft | 0 | 7,048 | 7,048 | 0 | 0 |
| William Harvey Hospital Sensory Project |
500 | 0 | 0 | 0 | 500 |
| Wythenshawe Hospital - Starlight | 1,395 | 0 | 1,395 | 0 | 0 |
| Gifts in kind and savings achieved | 0 | 11,970 | 11,970 | 0 | 0 |
| RESTRICTED FUNDS | 87,895 | 163,717 | 111,614 | (6,125) | 133,873 |
| UNRESTRICTED FUNDS | 131,887 | 273,370 | 254,286 | 6,125 | 157,096 |
| 219,782 | 437,087 | 365,900 | - | 290,969 | |
The transfer of funds to unrestricted from Panda Unit Salford Diagnostic Equipment is due to project withdrawal and no other alternative for fund spending.
Page 14
MedEquip4Kids Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
15. RELATED PARTY TRANSACTIONS
Mr D Joseph a trustee of the charity is a partner at Gunner Cooke. The company paid £600 (2020: £1,350) to that firm in respect of HR services provided to the charity.
No further transactions with related parties were undertaken such as are required to be disclosed under SORP 2015 (FRS 102).
Page 15