A Privat8 Company. Limited by GuaTanteg Company Number. 4620347 Reglstered Chatly Numb8r. 1117648 ACcOUs FOR THE YEAR ENDED 31 DECEMBER 202$
NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE CONTENTS Pag• Referenca and AdmInIstrave Déta118 Report of tho Board {Indudlng Dlrect(n' Report} Independent AudltOT8' Report ststgm•nl of Flnanclal AcUvllle8 (Includlng Incom& and Expgndllure Ac¢ount) Balance Sheèt Accounllng Pollclè& Not98 to thg Flnan¢5al Statèments Ing)m8 and Exppndlture AtUnt
NPPG A PRIVATE COMPANY UMITED BY GUARANTEE . REFERENCE AND ADMINISTRATIVE DEfAILS DIREoR8. S R Tomnn N Goodlng N Chrisllansen P SaThJerson C Benn SECRETARY: Profd8 ProdlI0n LTmltèd CHAIR: TREASURER: P Sanderson REGISTERED OFFICE:. Boundary Hou88 80slon Road Han¥11 London 2QE COMPANY NUMBER: 4820347 REGISTERED CHARrr( NUMBER: 1117648 srATUTORY'AUDITOR: Donn8lly8entloy Ltd Chartered Aceountanls & Stalulory AudSlor H8zlomerg 70 Chorfey New Road Bolton Lancathke BL14BY BANKERS: HSBC 525 PTr8coI Road Old Swan Lfvorpo L13 5UU
NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE REPORT OF THE BOARD {AS TRUSTEES AND DIRECTORS) FOR THE YEAR ENDED 31 DECEMBER 2023 The truslpes, who are also direcfor8 of the charity for the.purposos ol the Companies Act, ar8 pIBa5ed to present thelr annual report together with the audited financSal stataments of the charity for Ihe year ended 31 December 2023. The Iruslees hav& Bdopled the [W$10nS of the Statement of Recommended Pfacknce (SORP) 'Accounllng and R8porUng by Chartlie5' In pi8parlng the annual port and financial stalements of th& chadty. Th8 flnanclal statements have been praparod In 4o%ordance wllh the accounflng polldgs $91 out In notes to the accounts and comply with the charlV$ gov8rnlng iJocum&nl, the Charttles Act 2011 and Accounting and Reporting by Charities: Stalsment of.Rocommended Pracl¢cg applicable to charitles preparing Ihelr accounts In accordance wlth the Flnanclal Reporting Slandard appllcable in the VK and Republlc ol Ireland published wi Octob8r 2019. . I. STRUCTURE, GOVERNANCE AND MANAGEMENT Govemlng Documvnl Th9 Qrganlsallon Is a charitable company Ilmf(gd by guaranleg, Incorporated on 18 Decembèr 2002 and registered as a charity 22 January 2007. It 18 gov&m8d by its Memorandum and Ae$ of Assoclats'on. As A tsgislered charity the company ts non-profit making and Ils dlrecloTS and trustees volunt88rs. The company has been Incorporated without share capital and It Is Ilmiled by guaranteB. to a MmuM 01£1 by each of ils membgrs. Appointment of Trust¢g$ The dlrectorsltrustees are appointed by the NPPG as the d1ctOrs11ru8tees have tho power under tha governing documents to Covopi Indlvlduals who support.tho objects of the OTg8nisaIn. Tn*•8 Inductlon As part of thelr induction, the dlrectorsltruslees are provided with informallon aboul the charlly. the managernant struciure. its history and working PTactices. In addition they are also prov5ded with gxtraGts of the Mgmorandum and Arttcles of A8soclatlon plus InfolIatIOn from the Chadty CommlsslDn and Companlgs House regardlng thg dutlgs and re8ponslbllltl8s of dirgclors and tru¥tses. The DirectOruSteQs who served during the year ara Itstsd below.. 31 Dgcgmber 2023 31 Decembèr 2022 M8mbers: Ms Abigail R Mee(resigned 29109r203) Ms Abigall R Mee Mr Stephan R Tomlin Mr Slgphen R TomlSn Mr Nigel Goodlng Mr Nigel Gooding Ms Nanna Christian88n Ms Nanna Christlansen lappolnted 06112122} Mr Paul Sanderson (appolnted 29109123) M5 Dlana Mowbray {r8slgnod 06112122) Rl$k rovlw The Board has conducted Its. own [eW of th8 major ri5k$ to which th& charity is 6xposed. and $ystems have been establlshed 19 miugate thoso ri5k5. Organisatlonal Stru¢tur8 NPPG is managed by Its Board of Membèrs and an execuUv8 commbtlee which meets four tlmès a
NPPG A PRIVATE COMPANY UMITED BY GUARANTEE REPORT OF THE BOARD (AS TRUSTEES AND DIRECTORS) FOR THE YEAR ENDED 31 DECEMBER 2023 Minules from the PreU5 meeting and tthscuswn papers circulated bpfore the schedul8d meettrE. The discussK>n papgrs are tabled either by a dlrectorltruslqe or Ihe executiyg commlllee. During the mggtlngs the progress of thè past months 55 assessed aTrJ considered against the targals d airnts. The current StalL of Ihe planned work Is considered and diScud. Future aims and ambittoris are considèred Sn conlunclion wtth the ongoing programme. Any cfiscusslon papers circulal8d before thè mè8tino wll be disLwssed ar I OBJECTIVES AND ACTivmES The principal acllvltEes ntinue to be the tharent of eduLzlion and YAntng in paedialrfc and neonatal phaTmacy, tnduding tho undeftthng of Te5earch and the provision of infom)atEon and advi conceming paediatrtc and neonatal pharmacy for the benefit of the g¢neral pubfic. 3. PUBUC 8ENEFrr We have ref8nTed to the guhaance In the Charity CornmlssJn's genernl guidan on. publlc bengfit whan r8vi0sYlng our obfvctivgs aTKI a¢tivibes and In planning our future aclivtties. In parkncular th8 trugtges corolder how planned actNlflgs WIU to th8 alm8 aThl obJgctNaslhoy havg sBt. ACHIEVEMENTS AND PERFORMANCE IN THE YEAR Involvement In a Joint venlure to publlsh a NaticwAI For• of. Medldnos for. Chlldren IBNFCI. Tlis is wldety used by Hèalth Care Profe55k)nals across the UK to ensure that medlcines are LL8ed in chldren safdy and effe¢lThie]y. Involvement In a lolnt v6nlurè to davelop Information leaflets at thg parents"Df chlldren who are prpscribgd methcines for varkAB conditions. leathg to. Irrformation leaffets and a websTi?. Study days and bitesize leaming events have rAintmued and are bewig ¢affied" out elther face lo frdce or rerriolely via 'TEAMS'. The annual NPPG conferonc was hald succossw wllh the oifor of subsldlsed places for the tim8 Production of nfern1 Frf)drasts (placed Ihe NPPG webstte) lo exlgnd the audierKe the hifomiation carj reh. Researth grant for the Slxpwke remakns outstaTrkng du8 tD the lead researthgr moving to a different Universty. Ertsur8 that chlhlron's mediclnes pracltce ha5 remained hlgh on thg agenda of naknal. policy. indudlng Involvgm8nt in NICE. MHR& DH arKI RPS. The NPPG speciallst Interest groups hekl several trainkng events -lIne to provide.educalton and sup'port for members and to attrdcl new membeJ¥ to NPPG. Continuod to wodLKe the paetriC W gth in C1)n vath Medusa. Wothg wllh the RPS as of ds affllatthi speuthsl partnership gr(wps to aid tredenlLgllng ofeducat1c needs for our membwship.
NPPG A PRIVATE COMPANY UMITED BY GUARANTEE REPORT OF THE BOARD (AS TRUSTEES AND DIRECTORS) FOR THE YEAR ENDED 31 DECEMBER 2023 ACHIEVEMENT8 AND PERFORMANCE IN THE YEAR Icontlnuod) Inlormatlon officer r88pondod lo sevBral consultatlons from NPC. RPS. MHRA, EMA, Healih, and C8f8 Profasslons Councll and NICE Sn addlllon to rèspondlng to roquèsls from the mèmbarshlp vla Ihe w8bsll6's message b08rd. NPPG hos pul a proportlon of our capllal Inlo Inv881m8nt8 wllh a company 'lnvestec" who speclallses In helplng 'GhariligS to inv851 thelr Gapbtal In a relatively Safe and low rlsk mannèr. Thls company 18 managing.tha portfollo with Input from NPPG In accordance wlth our Inveslmènt po15cy document lo enhoneè future Snoome from our capital. Ongolng work to slandardl88 tnfvsb)n conconlrollons across all agè group8 ond èngagernt wllh Industy and pollGy makers.on how to progress uptak8 of th889. Contlnue lo davglop an unllcen¥edlJpectal8 formulary and to ald prlmaryl¥econdary care InlFJrfa¢g Issu88. Int888d engaggment wtth Colleagu from dlffèrenl caro Jettlngs to Improv8.undor8iandlng of phqmaceutlcal Garo In ¢hlldrgn NPPG has Issued sevgral poslllon slatomenls whlch ar• b•lng kept updated In Ilghl of new Informallon h8n errlvgs. NPPG conllnue8 to use corporate package$ to attrqcl phom)aceullGal Industry sponoorshlp to furih8r Itg goals. NPPG Cbntlnu85 to work wlih ro9Sonal proEur9mènt 8peclall8ts lo ènsurè Yormulauona purchasgd wlll be sullabl8 for u59 wllhln the paedlalrlG popu181ion. NPPG has takon out Indemnlty In¥urancg lo cover the company Should any of IheB• Staloments bo challenged. NPPG has rovlowed and InGrga8ed tv8 SLA6 wlth path8r Tru$l$ io support Ir8 alm8 and oblgGtives NPPG has beèn aldlng the BNFC by actlng a8 gxpart advlsorn on qugrles Ihèy have durfnG tho updattng procvas of th8 BNFC. Reglon81 suboroup8 hava &xpandéd and mgt through lh8 year to.aid n9tworklrKJ and study day8. A dsk roglst8r has boen developod lor NPPG. S. FINANCIAL REVIEW The surplus for Ihg year w89 To which Is add8d the relalned surpkrs broughl forward 12,982 802 578 Leavlng a surplu8 carried forward of 815.540 NPPG gengral fund admlni3tgrs thg day to day wnnlng ofthe charity. Incom8 Is deriv from member subscrtptjns. publlcations and donatlons.
NPPG A PRIVATE COMPANY UMrrED BY GUARANTEE REPORT OF THE BOARD (AS TRUSTEES AND DIRECTORS) FOR THE YEAR ENDED 31 DECEMBER 2023 S. FINANCIAL REVIEW {Conthiued)- Inv•slm•nl Pollcy Under thè Mèmorandum and ArtK4es of A$%81n. has the pwr to invést In Any way thg trustges 8h. Tho tru8t808, havlng regard to tho llqukllty wuknmBnt8 of th8 charfty and to th8 ros8rv8s pollcy. have plaGed a proportton of capital into Inv8slmenis ryth a u)mpany 'lnv8stec" who spociallse5 In helping charflt8s to Imiesl thelr capital in a reiatlvety safe and loiv tlsk manner. The company wlll manage the porlfDIEo on behall of NPPG In accordanc8 wtth tho charlvs Investment polw to gnhance hthre incom8 1M pItal. Thg remalnlng capltal withh iFthrest beathg Currtt acCUnt& Rotyorve• Pollcy It Is the pollcy of thè charlty to malntatn unrgstrtcted funds. whkh are fr88 r88erv8s of the charlly, al a 18vel whlch equates to approxlmatety SLY month8 unrestrfciad Oxpondfturo whlch woukl bg kn thg reglon of £80,000 at 31 D8cembgr 2023. Thts provides sufflclent lunds to cover managomonl. adminlstralion and 5upFrt CQ51s and allo Ihe charrfy lo read lo changes In fundlng In a conslrucliyo manner. Curr8Dtty urwoslrlcltd furrfjs. wht¢h aro also lotol fund5. are £857.821. Thg Trustèès arè awar& of the posllion. They aro Invesligating Incr8831ng expgndlture In a¢tlvltlo$ whleh 8UPPOrt the oblects of the Charity as oullln&d In the plans for perlods. 6. PLANS FOR FUTVRE PERIODS The charfty plans contlnuing the activltles as outlEn•l In (2) above In tha forthcomlrwJ years by: Contlnuing lo further dgvelop lolnyy wilh olhor Interested parti98 and choritlg8. P#ti8nl Informalon L8all•ts (PILS) lor a grealer range ol medicknes used trt ch]Idren. Working with other Interested opjanisallons to conslder ways of rf3k mallaglng th8 Uso of unliconsed oral Ilquld medickn88 in ¢hiSdren. Updating Ihè Patr Inl8nsfve Carn Unil package wllh a v]w to broak r( down hlo smaller mre rnanageable solutions vthkh may be p0881ble to host on a web baBed platfomb. Contlnulng lo provide educatlon arKI tralnlng opp(¥birthes for NPPG member8 by h0511ng an amual confergrK9 and spBciallst study day8. Facllitatsng research and deVelOnent In the field of pa&Jlatrlc phamwy by hosting research awards. Revlewin9 the NPPG'S finances to ensure resources are maxlmlse¢l lo invest in supporung lis membors lo meel the chariws rtlssh)n and vision. NPPG to monltor our Investments to ertsurg Income Is gengrated. Ilalslng c105ety with our Investmenl advisors. NPPG lo promote cofj)orate SKM)Ths(shSp pa lo industy to enha our investments for the company.
NPPG A PRNATE COMPANY UMITED.BY GUARANTEE REPORT OF THE BOARD (AS TRUSTEES AMD DIRECTORS> FOR THE YEAR ENDED 31 DECEMBER 2023 6. PLANS FOR FUTURE PERIODS IContlnu6d) Conynulng involvement In a lolnt V9nlur8 to provide SPOGlalls1 Input into m8lerials.us8d to train n0Tr8peclalist phamiacists and pre-registratlon pharmadsts about Issues relallng to tha safg and offectlve us6 of medlclne8 In childr8n. Developlng an e19clroni¢ based edu¢Atlonal package for pa8dlatrlc on¢ology phanrJ8clsts. Malntalning a nauonal IV dalabase sultable for use In chlldr8n QTVJ to develop one suitabla for use In neonal68. To work wllh Ilkomlndod ph8miacoullcal mpanIes. lo cr80ta varlous Iler8 01 cowiratfr 8ponsor8hlp of NPPG In ordgr lo rai88 caplial lo malntaln our work. Sn lieu of r8dudng fund8 from the contract with NICE for BNFC year on year. To work morg closely wlth the Paedlalrfc Chlgf Pham)aclsl¥ group to enjuro slmltar gubJ8cl8 aro b8lng covergd by all a8P9Gls of thg prof08810n. To work wllh. CPPE to update paedlatrlc gducatlonal pqckage8 on thelr wgb81ta. and to dlscuss Ihelr ho¥llng ol the an109Y pa¢kag88 belng davelopod by thg POP group. NPPG wlll acl as expert advlsgr¥ lo BNF Publlcallons when a$k&d to do ¥0. NPPG will b• revlewlng the n8•d for a communlty pharmacy Ilnk to Ihe group. The rSsk regl¥ler wlll b¥ rogularfy rgvlewed and updated opproprlate. NPPG plan8 10 gngage wllh lèchnlctan group8 and develop an aggnda lo Support phamiacy lèchnl¢lans. 7. EVENTS 8INCE ThE YEAR END The NPPG conhrnnce for 202416 belng pl8nMd and wlll bè hold In NovembgT 2024. 8. FUND8 The lunds hold by tho Charlty aro detai18d In note 11 to'thè accounts, g. TAXATION Exomptton lo taxatlon has been granted to the charttable company by vlrtue of Its choritable statu8. 10. STATEMENT OF TRUSTEES AND DIRECTORS RESPONSIBILITIES Th6 Iruslees (who are also dlreclors of NPPG for thg.purp08es of company law) aro responslbl8 for prepertng the Trusteg5' Annual Report and the financlal slalempnl¥ in accordanc8 wllh appllcable law and Unlted Klngdom AuntIng 'Standard8 Iunlled Klngdom Geneially Accepl8d Accounting PracUGg1. Company law requlres the trustee5 to prepar8 flnanclal statements for e8th flftanclal year, whlch a true ond fair vlew of the stale of affalrs of the charitable Gompany and of the incoming ro8ources and appli¢gllon of resourc99, Includlng the Income and axpgndltur&, of the charfitsbl8 company for tho
NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE REPORT OF THE BOARD (AS TRUSTEES AND DIRECTORS) FOR THE YEAR ENDED 31 DECEMBER 2023 10. STATEMENT OF TRUSTEES AND DIRECTORS RESPONSIBILITIES {Contlnu¢dl In proparlng th9$8 financial slalomenls Ihe trusts88 are requlred to= salocl suitable accounting policiès and then apply Ih8m consistanuy. observ8 the methods and principles in the Charities SORP 2019: mak8 judg8fflènts and eslimat6S that aro reasonablg and prud8nl', stsle wh8lhèr applicBble UK Accounting Standards have been followed., prepare the financial slalemonls on the going concern basis unless 11 is inappropriate lo presurne that the charrtablo MpanY will ¢ontinue in operation. The trustees ar& Tesponsible for keeping proper 8¢¢0unting records that disclose with reasonable accuracy al any lim8 the financial posrtKJn of the charitable company and 8nabl8 them to ensure that the financial slalorngnls comply wth th8 Companles Act 2006. Thoy are also responsible for safeguardlng the ass8ts of tha charitabl8 cornpany and hence for taking rgasonablB stops for the prevention and d8t8clion of fraud and other irrogularilies. 11. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS We, the trustees of the company who hald office al the date of approval of Ihgse Financial Slalemenls as sat out above each confirm. so far 8$ we ar8 aware, that-. there is no relevant audit infomialion of which the mpanY'S audltors ara unaware., arKI we have taken all the step5 that we ought to have taken as tru51ees in order lo make ourselves aware of any relevanl audit information and to establish that the compan$ auditors are aware of that information. 12. SMALL COMPANY EXEMplloN In preparing this report th$ tliroctors have taken advantage of the specwl provisions of Part 15 of the Companies Act 2006 relating lo small CoMpans. 13. AUDITORS A resolution will be proposed at the Annual General Meeting lo reappoint the Auditors. DonnellyBenUey Limitad, Charlered Accountants and Regislered Auditor. SIGNED ON BEHALF OF THE BOARD BY:. Nan hrisliansen. Dirgctor 23 Septembèr 2024
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE FOR THE YEAR ENDED 31 DECEMBER 2023 Oplnlon We have audilod Ihe financlal slal8ments of NPPG {the 'ch&rfloble compan) for tho year onded 31 Do¢8mber 2023 whlch comprfse the statement of flnancial aclivltles. the baloncè sheet and nolas to the financial slal8mènts. InGludlng a summary of slgnificant accountlng pollGi93. The financlal reportEng framawork that has beén 8ppll8d In Ihelr proparalion Is appllcable law and Unlled Klngdom A¢counllng Standards, Indudlng Flnanclal Rgportlng Standard 102 Th6 Fln8ncl81 Reporting SlarKlard applicabl& in Ih&. UK 8nd R8publlc of Ir81and {Un5ted Kingdom Genarally Accèpted Accounting Practical. In ow oplnlon the flnanclal 81atem8nl$: gfve a truè and falr vlow ol the stsl8 of tho.charfiablo ¢ompany's affalrs as'at 31 Dernmber 2023. and of Its Incomlng resou88 and appllcamon of resource8, Includlng 116 Inwm8 and expendlture, for thè yaar thgn onded. have bn proporly prepared In a¢¢ordanGe wlth Unlled Klngdom Gengrnlly Accgpled Accountlng Pra¢tl¢•; and hAva en propthMd In accordance wlth tha requlremerts of th8 Companles Acl 2008. B¥1• for oplnlon We conducted our audlt In accordanc• wlth Inlom811onal SlandardB on Audlllng {UKI (ISA8 {UKI) and appllcabla law. Our 18&pon8lbllllles und8r those standards arg further dg$crlbed In the audllor re$pon55blliti8s for the gudlt of the financlgl stalernents s8clion of our reporL We are Independent of th8 charitable MpanY In accordance wllh tho ethlcal requlrements that are r918vant lo our audll of tho financlal 5tBlemBnls in the UK Including the FRG'S EthlrAI Standard, and we h4v8 fulfllled our olhor 8thScal r88pon8ibllllles In accord8nc8 wllh Ihesa requlremenls. beliève that the audlt evldence we have oblalned Is 8ufflclenl and appropTlal8 to provlde a bas18 for our oplnlon. Conclu•lon8 relatlng to golng Co¥M In audlllng th9 Ilnandal Blalements, we hava conduded that'lhe tru?1988' U80 01 the golng concèm basls of 8ccountlng In the preparalh)n of th8 flnandal Statements Is approprlate. Based on tho work we havè performed. we have not Idenlihed any materfal uncertalntlgs relallng to evenls or condllions thal. Indivldually or Gollecbvèly, may c88t slgnificant doubl on the ch8ritable cornpanls ablllty lo conllnuè as a golng concern for a perlod of al least 1¥9 months from when Ih financlal statements aro authorised for Issu&. Our r8sponslbllltSos and tho re8ponslblllUa5 of thg trusteeswlth respèct to golng nCern aro dgscrlbed In lh8 relgvant S9ctions of thls reporL
INDEPENDENT AUDITORS REPOltr TOTHE MEMBERS OF NPPG A PRIVATE COMPANY UMITED BY GUARANTEE FOR THE YEAR ENDED 31 DECEMBER 2023 other InforntIon Tho olh8r Infomatbn omprlses tho Infomwllon knded In. report of tho board. othor Ihan the financkl statements arKI our audliorfs roport thereon. The trustees aro responsibla for Ihe other Infom)alion contained within the report of Ihg ljoard. Our opinlon on the lInclaI sts18m8nts does not cover thu olher infomiatlon and. exp1 to.tho exienl othe1$e expllcttly stated sn our report, wo do. not expréss any foThn of a5sur8nce concluskn thereon. Our respomiblllty b .to read thg olh8r Infomwtlon arKI, In dol[ 80. consld9r whethor tho olhgr Informalion Is matorially Inconsistent with the finarthl statemenls or our knowledgo obtalned In the ourse of Iho audlt or othgrwlso appears to b8 materlalty mlsslaled. If w8 Idendfy 8uGh malerlal InGonslst8nGlgs or apparent malorfal mlsstatgmgnts, w6 ara rgqulr8d to dgtgmilno whèther Ihls glv98 rfse lo a malerfal mlsstalem8nl In thg ftnanckgl slalom9nts thamsefvas. 11. based on tho work wo havg perfomied. we corKludg that there is a matertd misstaiement of Ihts 0th9r knfom)ation, we are requhd lo réport that fxl. Wa havé nolhlng lo roport In thls regwd. Oplnlon• ¢)n oth•r matt•r• Pr•rrO•d by th• Campanlo• Act 2006 In our oplnlon. h88d on tho work undortakan In the o)urso 01 tho aud. thg knformath)ff glven tn the Roport of Ihe Board Oncorporallng tho dFrectors' report) for tho nanclal year for whlclj lh• tlnandal 8tstemeni8 ar8 pr8pargd h conslgtent wlth tho financlal 8tatemgnts; and th& dlrgctDrs' report h88 been.prep8red In ac¢ordanc& with #p91891 rnqutremgnts. Matt•r• on whlch w• arp requlr•d lo r•port by 0xGen In the Ilgm of our knowle¢Jge and urvJ8rstandhg of tho drilable c%>mpany and Its ènvironment obtalned In Ihg coutse of thg audf(, we havg nol Njentllled matorlal misstatements In thg dlrector8' reporL We hove noNng to roport in rospect of Ihe folknylng matters kn rél8tk)n to whlch th8 Compant8¥ Ac 2008 requlre¥ us to rnport to you Ir. In our opkniorn. adequate acuntIng records have not been kept. or reln$ adequatg for our audl have not been roceived fn)m branthes not visilad by us; or tho fmanclal"ststemonts are not tn agreement wth the accounting records ond relwns: or certatn dknt05wes of dIreclo. remunpratlon%rcffied by law are not made: or we have rYJl ro¢ofved all the informakn and enatlons we roquire for our audit or the trustees were nol entitled to Prepa Ihg rn¢la1 t8[rn15 In actorfanc• 1h the sriiall companles. rgglme and tsko advantage of thè small tsjnpanies, exempllons in pr8pamg I dIrecto. report arKI from the roqthm8nt to sThparg a strategk rop)
INDEPENDENT AUDITORS REPORT TOTHE MEMBERS OF NPPG A PRIVATE COIJJPANY LIMITED BY GUARANTEE FOR THE YEAR ENDED 31 DECEMBER 2023 R¢8ponslbllltl05 01 tru$tsos A8 explalned morg ftllly In the trusl8es' responslbllllles statement sel out on page 2.4. the tsuslo8$ (who are 0180 the dlrectors ol the ¢haritable company for the purpose$ of company lawl are re$ponslblg for the preparallon of th8 financlal stalem8nls end for being satisfiod that thoy givg a true and falr vlew, and for such Intemal control as tho trusteos delennlna Is necessary lo 8nabl8 th8 preparalion of financlal 51alements that are free from malerlal mlsslalemenl. whèther du? to fraud or grror. In proparlng tha ffnanclal 81atamont8, Iho Iru8tee8 are rospon8lbl8 for 8S88sslng thg charttab19 company's ablllty lo conllnue as a golng conGem, dlsclo8lng, os appllcablg. mallor8 relalgd to golng oncern and uslng the golng concem bast¥ of accounllftg unless the IIu81888 elther 1nlend.to Ilquld8te tho charllablo Company or to cea8e opgratlons. or have no reallsllc altomallv8 but to do 80. Audltofj r•spon8lbllttl•• for th• audlt of tho flnanclal statem•nt• Ourobl8cllve8 arg lo oblaln rgason4bla asguranc8 about wheiher Iha financlal slalomants a8 a wholo are free from malerlal mlsstat8m9nt. whalher due lo fraud or 6rror, and lo 188ue an audllor's fOPOrt that includes our oplnlon. R$asonable assurance Is 8 hlgh lev81 of a88uranc&. but is not a guarantee that 8n audlt conducled In accordance wllh ISAS '(UKI wlll alway8 detect a malèrf81 m18Statomenl when It éxlsls. Ml85tatem8nts con aTis8 from traud or error and ara consldèr8d materlal If. Indlvlduolly OT In the aggTrgal8, th8y could r8880nably be expected lo Influ8nca the economlc dèclslons of usern taken on the basts Drtho89 financlal 8tatemttnts. IrregLblarlllg$, includlng fraud. are Instances al non-wmpllanGo with laws and regulatlons. We deslgn PCodureS in Ilne with our respon8iblllllgs, ouulned above, lo det¢¢l malerlal ml$$lalemgnl¥ In respgct ol Irregularilies. Includlng fraud. Th? spec10 prooedures for this engagement and th8 exlent to whlch the¥? #re capabl? of dgtecting Irr8guiaritig5, Including fraud Is dgtslled below: We obtalned an undgTOtandlng ol the legal and regulatory framework appllcable to Ihe chaTltsbl8 ompany and Ihe.8eGlor In wh5ch it 0rat83 and con814erod the rfsk of non. compli8n¢e with applicable laws or regulations. W6 determlnèd that the followlng law8 and regulatlong werg m08t 81gnlflGant lo thg charllable company: the Companl8s Act 2006 and Iha CharlllEs Act 201,1. Wo dgslgned oudil procodures to r8spon¢J lo the rfsk, rècognlz5ng Ihal tha of not dèlècllng a material mlsslalemgnt due lo fraud18 .hlghor than the risk of not delecllng one rèsulllng from error. as fraud may involv8 dellberate concealment, for 8xample, forygry or Inlentlonal mi8repr•sonlaiions, or through collusion. Wa oblaln8d an undeTslandlng of how th8 charmable company is complylng with those legal and r8gulatory framèworks by maklng 8nqulrles of. th6 managemenl. W8 rrObOrated our onqulri88 through our revlew of board minutes. Our 198ts also Includod agreeln9 the ftngnclal slatomgnls dlsclosures to undgrtylng supportlng docum6ntallon. Ther8 ar6 Inheront Ilmltallons In tho audR procedure8 doscrlbed above and. th further removed nonwcompliance with laws and regulatlon5 1$ from the evgnts and transacon$ refleGled In Ihe financial slalements. the less.likely we would becom8 Awaro ol It. Wo dld not Identify ary key audlt matt8rs relatlng to IrregUrill, Including fraud.
INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF NPPG. A PRIVATE COMPANY UMITED BY GUARANTEE FOR THE YEAR ENDED 31 DECEMBER 2023 Wè Also addressed the rlsk of man8g8mgnt ov8rridè i)f Inleml conlrols. Including 168tlng Journals and frvaluallng wh6lhor there w88 èvldence of blas by thè directors that r8pr8s8nted a rtsk of matertal mlBslal8m8nt due to fraud. A fvrther desedptlon of our re5ponslblli1185 for tho audll of the Inandal statements t¥ IoG4ted on th8 Flnanclal Reporknng Councll's webslts at: www.1rc.org.uklauditorsresponslbililies. Thls desCrIpOn forr part of our audttorfs report. UM of our roport Thls rgport to madè solely lo the Gharttablo company'8 membars, a8 a body, In acGordanc& wlth Chapl8r 3 of Part 16 of th6 Comp8nle$ Act 2006. Our. audll Work has been undertaken so that wa mlghl sialo to th8 charSlab10 ¢ompany'8 membgrs thoso mallers we are rgqulr8d to slala to them In an audllvrfs rgport and for no other purpose. To tho fvllesl 8xt@nl parmltted by law, wè do not accept or assume respon¥lbil'ily to anyone other than the charfiable company and the charflablfr company'8 members as a body, for our audll work. for thls report. or for. th8 oplnlons wg hava fomied. CdMJJ. Ca£ Catherlna Col8 FCA {S8nlor Slalutory Auditor) for and on bghalf of Donn8llyBenlley Llmllgd Chartorod Accountants & SlabJlory Audllor 70 Chorfpy New Road 8ollon BL148Y 23 Seplembgr 2024
NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTivrriES {INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2023 UNRESTRICTED. 2023 2022 Note INCOME AND EXPENDITURE INCOME.. Donations and1ggacl¢s Gharilable actmtles Inv&slment In¢ome 137,472 25.378 84,459 18.619 11.T53 TOTAL INCOME 114.831 EXPENDITIJRE: Charitable aclNit(8s: Advancement of education and tralnlng In paodiatrfc and neonatal pharnacy 199661 153.698 TOTAL EXPENDITURE 199 661 153,698 NET EXPENDITURE {23,867} 138.867} OTHER RECOGNISED GAINS ANI) LOSSES: Gainl(Loss) on rgvaluabon of fLxed assgt investsn8nts NEf MOVEMENT IN FUNDS FOR THE YEAR 12.962 (113.704). Reconriliatlon of Funds Fund BalanrR Brought Forward at 1 January 2023 802.578 916.282 Fund Batance Cathed Fon¥ard at 31 December 2023 11 815.540 802,578 Movements In finds arg di5Glosed in note 1110 the financlal statements. JI Incoming rasource8 and resources gxponded are darfv9d from contlnulng aclNitIo8. Therè.are no other gains or loss8s other than fhose notad above and therefore no sepaTat8 slatement of lolal r9cognl8ed galns and losses has been prepaTgd. The acLompanylng accounting pollcles and note8 fomi an Integral part of these financlal statements.
NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE BALANCE SHEET AS AT 31 DECEMBER 2023 21123 2022 Not• FIXED ASSETS Investmgnts 666.303 626.015 CURRENT ASSETS Debtors Cash al bank 103,262 158982 83,638 262,244 247 942 LIABILITIES Creditor5 falling duo wilhln one year 113007 NET CURRENT ASSETS 149 237 NET ASSETS 802 578 THE FUNDS OF THE CHARITY: Unr8strictod FundB 11 802 $78 These acwunls have been prepared in a¢cordanco wlth the special provisions of Part 15 of the Companles 2006 relallng lo small companies and conslilule tho annual accounls requirod by the Companies Act 2006 and ore for circulation lo mgmbers of th8 company. The financlal slalemants on pages 4 10 7 were approved by the Board of the DlrgGlors and Signèd on tts behalf by'.- Nanna Christkinsen, Director 23 September 2024
NPPG A PRIVATE COMPANY UMITED BY GUARAKfEE ACCOUNTING POLICIES FOR THE YEAR ENDED 31 DECEMBER 2023 SUMMARY OF SIGNIACANT ACCOUNTING POUCIES G•n•rnl Inforniatlon and b•Gl$ of preparthn NPPG Is a company mit8d by.guarant•è artd has no share <%1. In the event of the charlty belng wound up. the abilitY in r8SP8Ct of Iho guaranteg Is Ilmbted to £1 per rnèmr of thè eharity. Th6 addrn6s of the r¢glslar8d offlco18 Boundary House. Boston Road. H8nweH. London. WT 2QE. Th8 nature of thg charws oporation$ and. prinGipal tltIeS are the advancemant of educatlon and tralnlng tn paedlatrlc and neonat pharmxy Indudlng Ihe undertakSng of rts•arch and tho provlsion of Infornolon Bnd advlce concemhg paedlatrfc arKJ neonatal pharmacy to the benefit of the genoral publi Th8 chartty con8titute8 a publtc benefft onttty as doflned by FRS 102. Thg Ilnancial stslements havg been preparj in a)rdance vAlh AccotIng and Reporting by Chari1198". Statamanl of Récommended Pracllce appllcable to charibes preparlng tholr accourts In accordanco tho Flnanclal Repurtlng Slandard appllGablg In tho UK and RopubllG of Ireland 158ued In Oclobor 2019, the Flnanclal Reportlng Standard appllcable In thg Unw Klngdom and Ropublk of Ireland IFRS 102).. tho Charfllg5 Act 2011. the Compant08 Act 2008 ar UK GenerlY Accepted Accounllng Practlce. Ex8mptlon has been taken from pmpBrfng a cash Ilow slai8ment uThlor the CharfYa$ SQRP 2019 aB gross Incomg k below £500.000. Thè finandal slatom•nls are prepared on 8 go5ng ncOM baslj under Ihe hbtorfcal cost <x)nv8ntlon. mod[fd to knclLK19 Cgrtaln Items al fair val. Th8 Ihundal slalemwls are prasonlad In slerflng whlch Is thqfun¢tional GUrre oflho Gl•. Ttte significant accounllno pollcies applted In the prep8ratlon of these flnarKlal slalements are set out bdow. These pollGles have been ¢onststenUy applled to all years presented unles5 otherwtse statod. CONSOLIDATION Th8 financial stslemanls contain inf¢Jm8lton abwl NPPG as an IndMduBI. company and do not contsin consolldalod Informath)n about is a¥8odalg. RCP.CH Publkatlon8 Llmiled. NPPG 18 not parent company and is thereforn not reqimred to )Unt for the Imie6tmenl in ts associqtts uslng tha equty mthod. The invg8tmgnt its a¥wclato l)as bowt measured at CJJ8t1888 imp41nL FUND ACCOUNTINO G8neral Funds are unrostrktgd funds whkh represent the actumulated ftJnd8 of thg company that a not sublect to any reslridlon8 rggardlng th8tr usg, •d arn aValab In the fifflherance ol the general obieclives of cofflpary. Designatott Funds have been de51gnated by the 8oard P1r wrposes. and are also unre8lricted as the Board can re-assign those moni85 rf it so deswgs.
NPPG A PRIVATE COMPANY UMITED BY GUARANTEE ACCOUNTING POUCIES FOR THE YEAR ENDED 31 DECEMBER 2023 Re8tdctgd Funds can only b• used for thelr slated purpose. due to speeffic condlllons Imposed by'the PToviders. of those funds or grants. The costs of rdlslng and admlnlslering such funds ara chargèd against the spgdlic fund. INCOME RECOGNMON POUCIES All kncomlng resource# ar• Indud8d In thé Statement of FlnwKlaT ActNthè8 (SOFA) whèn the chaTIty b18gally entitled to. the inry)m6 after any prforniance coTrJitlon8 have be&n mol. Ihg amount can bo moasured r8Slably and It Is Probable Ihat the tn¢om6 WNI be recelv8d. For donauons to bg reeognlsed Ihe chadty wlll have notfvd of tho amounts and the 8ottlement dale In wrfllng. If Ih8ro are condlllons attached lo Ihe donallcm and Ihls requlres a lovel of perfomiance before entillemenl ¢an be ob181ned then Incom& is dèferred until those condiuons ar Jlly mel or the fuifilm8nt of thosa conditsons Is within the gjntrol of th8 charity and111s probable that Ihoy VAII bg fulfllled. Gr8nl8 or Sncomè reldng to a fuiur& accounllng pwbd or ro0d sn of the attrlbutable costs Is daferfed And canled foThvard as grarts and Income In #thlance In crodltorn. For t8gacte8, ontitlombnf is tho rar of thg charlty belng nolmed of'an Imp8Th4ing dl8trlbutlon or the legacy bolrKJ recelvod, Invegtrnent Income Is eamed IhrDugh holdlng as58ts lor knv8slmnt PWPO895. It curnprlses Inler05t r•celv8ble on 5h balances held in appwriat8 hteresi beaFing accounts and dNidends rocelv8d fro'm Sha held 88 part of g managgd hveslment pyttdk). No amount is Includad kn the Itrwclal staleTrwnts forvolunleers Ilm8 In Ilno wllh the SORP. EXPENDITURE Expendlturg18 aceounled for on an accnjals basts. Exper1Jr915 recognlsed wherg ther8 ts a1ggg1 or construct8 obllgatlon to make paymDnts to Ihkd partl88. It Is probat49 that th8 s8ttt9mgnt wlll be rgqulred and the amount of Ihe 0a00n can be mea5urod r8llably. Expendituro Includes recov6rable VAT and is reFK)rtod as pwt of the expendbtiwa to whkh It relates. Chadloblo expenditwe eomprfses those cosls incurred by the charity In th8 delNery of ils acllvlues and 8eNlc¢s for ils t4ngfKlarie8. It trKludes both costs that can bo allocatgd directfy lo such actNille3 and those costs of an Indlrect nalure necessary to 8UPPOrt them. All costs aro allocatad b8tween tho exp8ndlturn caleux)rigs on B basb doslgned'lo rèll8cl the use of tho rgsoyrce. Cosls relating to 8 Partic acUvlty are allote(l dtrectly, othgrs are apportioned on an appropriate ba. Grants payatAe to thlrd paeS are withln tha thanlable obJectNe8. Whore uncondlllonal grants aro offered, is accWl as soon a$ the reCipnI f6 notffied of.the granl as Ihl8 gives rrsg to a re8sonabla expgctation that the roCent will r8Geiva the grants. Where grants aro condltlonal relallng to Pgrlormance Ihan th& grant Is only CTed wh8n any unfulfilled ndluorffj are OLtsldg th& cOntrolf tho charlty.
NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE ACCOUNTING POLICIES FOR THEYEAR ENDED 31 DECEMBER 2023 VAT ACCOUNTING Ail oranl Ineomè and donauons are oulslde tha Scope ofVAT. Irrncov8rabl8 VAT on expandhuro is not analys•d separately but attrlbuled to tho rAtogory of exp8ndSlure Dn whlch It Is Incurr6d. FIXED ASSET INVE8ThIENT8 Inv851men15 aro recognised Inlually at fair value whlch Is norma15y Ihe Iran8actlon prfco exdudlng tran8acllon c0818. Sub$equtnUy, they are mea$ur¢d al fglr value wlth changes recogn19ed ln 'net galn$ l (losses) on Inv8slmonls'. in the SOFA K tho shar8$ are publlcty traded or their falr vdLte can oth8N180 bg mo4Burod rellably, Other Investments arg mga¥ur8d at StlesS bmpa5mient, Inve•trnants In asso¢lal88 are m6a8ured at cost1058 Impalmenl FOREIGN CURRENCIE8 A899ts and IlablHllo9 In forglgn curronct08 ar8 tran8lal8d IrrtQ 818rllng.at the rates of ex¢h8ngo rullng at tho balance shoèt dale.. Transacuons In forèlgn curr8ncl8s are translalod Into storilng al Ihè ral6 of èxchanga rullng al Ihg dale of transacllon. Exchangg dlfference8 are takèn Into account In arrlvlng at Ihg operallng resull. DEBTORS ANO CREDrroRS RECEIVABLWPAYABLE WITHIN ONE YEAR Dgbtorn and credllors wlth no ¥laled Interest ral8 and rac•lv8blelpayable wlthln on8 ygar arè record•d al tr8n8actSon price. Any108595 8rislng from Impalnngnt are recogrtlsed In wApondlture. CA8H AT BANK AND IN HAND Cash at bank and In hand includes cash and short temi hlghlylllquld inv88lmgnts wlth a short maturtty ofthr80 months or less trom thè dal8 or acqu551Uon or op6nlng of lh8 deposll or slmllar account. TAXATJON Th8 charty an exompt ch8rfty wlthln the meaning of schedule 3 of the Charitlos Act 2011 and18 on81d&r811 to pass the le8ts sot out in Paragraph .1 Schedul8 6 Flnancg Act 2022 and th8reforo it meèts the dgllnltlon of a Gharllabl8 ¢ompBny for UK curporatlon tax purp08eB. GOING,CONCERN The flnanclal statements havg bgen prepared on a golng (ncern basls as the dlrectors bellw8 that no materi81 unc9rtalnty exlBI8. The dlreclors have considered the 1gV91 of fund8 held and IhB expacled 16v81 of incom8 and expendlluro for twelve months from aulhorfsing these finandal stalemenls. The budgetsd Income and exp¢ndiiur& Is sufficlent with the level of reserves for the charity to bg able to conunuo as a golng concem.
NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE ACCOUNTING POLICIES FOR THE YEAR ENDED 31 DECEPJIBER 2023 JUDGEMENTS MD I SOURCES OF ESTIMATtOM UNCERTAINTY The "praparalion ol these finanual stalerronts req¥rn eerfain judgements, eslvnates and assumpltons that affo¢t the reported amounts of assets, liabilttigs. irKx)me expenses. Estim8tes and judgements are continually evaluated and a based on hlstorical experience aml oiiar factors. Induding expectalknns of ftrfure events that 8r8 believed to reason8blg und6r the eircumstances.
NPPG A PRIVATE COMPANY UNIITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 1. INCOME Incom918 dlrecty attrlbulabl• to the wlncvgd activltlDs of the rA)mpany. All incom? in 2023 2022 WBS #ttrlbirtable to unre8trtetsd fuThts. 2. DONATIONS AND LEGACIES Totsl Fund 2023 Total Fund¥ 2022 Donatlon from RCPCH PubkalM)ng Lld (see npifr 12) Corporal8 donauon 1Lh).227 80.744 137.472 84.459 3. INGOME FROM GHARrrABLE ACTMTIES Total Fund*, 2023 T¢)tal Funds 2022 Membor¥' 8ub8crfplkJn8 4.'INVEm1ENT INCOME Totsl Fund• Total Funds 2022 ank Inter081 Incomo from manad Invoslmont pNWdto
NPPG A PRIVATE COMPANY UMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 5. ANALYSIS OF CHARrrABLE EXPENDrruRE 2023 2022 Gran15 Infomiation officer sgrvtC85 M8mbBrship lialson offic9r sarvkes Posl and statlonory Travelllng axp8nses Technical literature Administratlon and derical support InsurancB Audit Accountancy Sundry Investmenl management costs Conference 8xpensgS Position statement offir Education and Iralning offlcor W8bsil& hosting Treasurer Proftlè dlsbursem6nts Bank charg9S Professlonal load 24.,240 37,569 7.043 15,665 35,OOD 19,632. 20 6.012 9,265 15,000 5.730 3,560 3,560 3,368 9.553 20.365 5,927 5..788 4,240 9.484 20,4.18 17,474 14,050 2,731 980 2,695 65 9.741 4.037 7.372 12,476 1.959 4.345 60 199 661 153,698 All gxpBndtluro in 2023 and 2022 wa8 atttibutabla to unrestrlGt9d funds. All of the abov& c08ts relate to dlroct servke provlslon. DurJng the year ended 31 D8c8mber 2023 a grarbt of £24,240 was payable lo an Sndlvidual. The grant was to fund a research project relating to Standard Concentration Infusions In Children and Neonates. During thè ye8r 8nd8d 31 December 2022 a grant of £15,665 was pald to Alder Hey Children's NHS Foundation Trustfor paedktric research. . Volunteers provide Important support fE*r the charfty, In partlcular through consullauons with NICE ahd providing feedback and support for lh& posillon slalement officer and the edUtiOn and training officer. 6. STAFF COSTS There are no employees who recelved total employee benefits lexcludlng omployer penslon costs) of mor8 than £60,000 (2022: nll). Neither the Chalmian nor any other dlreclor& rocelved any remunerallon for thelr servicas during the yoar. thus thero was no dlreGtors or key manag8m8nt personnglfemun8ratton bonefits12022: nlll. There w9ro no 8mploye85 durlng thg y9ar axdudlng dlr8Ctors volunw staff {2022: nll).
7.2 NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2023 7. FIXED Ass INVESTMENTS Manag Investm•nt Portfolio Intornst In Assoclated Und¢rtokln9 Total COST OR VALUATION: At 1 January 2023 AdiJbtlon$ Disposal Ravaluatlon 826.013 12,944 (9.4841 626,015 12.944 {9,484) At 31 D8cembgr 2023 666 301 666.303 IMPAIRMENT.. At1 January 2023 and 31 DeGembgr 2023 CARRYING AMOUNT.. At 31 D8cember 2023 866 301 668 303 Al 31 D¢¢ember 2022 626.013 626 015 Invaslments al falr value YAthln tha managed Invesim•nt portfollo ¢omprl¥e: 2023 2022 EqLtltI88 Sacuritle$ Ca8h wllhln Inv98lmont portfollo Property wllhln InVtMent portlollo 'A5tèmallv8 aBBet8 383,077 163.733 16,322 32,740 70,429 369.808 139.999 17,964 86,071 666 3[)1 626 013 The investment manager 1$ respon¥lble for monaglng tho inve51menl portfollo In the best Intsre6ts ot the charity Y4hlch involves the purchaso and salo ol share5. Any galns on kne 89le of sharas aro rolnvesled dirècuy Sn the fund and are therefore Irealed as unTea116ed by the charlty. Inv8stmenls vithln the managed Inveslmpnl porffollo arg valued on the basls of mld-rnarket pricas from th& apprDprfale Stock Exchangg or Imm the relevant fund managèr at the Baianco Sheet dale. Thg Increase in valu8 of thg Invastmenls amounting to £36.829 Is an unreallsed galn to be disclosed under Ch8ri11es SORP 2019 and doe8 not refloct any actual 109899 or galns reollsod by the charlty from sales of Inv6slmenls. Invastrn8nt MageMnI fees for th8 year to 31 Dgc8mber 2023 wera £9,48412022'. £9,741). NPPG owns 500/(* of thè ordlnary share capltal of RCPCH Publlc8don5 Llmlted and therg Is no controlling Intsrest. Thereforg the Invgstmenl In RCPCH Publlcatlons Llmllod h85 been trealgd as an a55ociate. Both o)mpanies are reglstered In England and Wal95.
NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDÈD 31 DECEMBER 2023 8. DEBTORS 2023 2022 Amount Owgd from related undertakings Pr8payTh8nts 100.226 3.036 80.744 2.894 103,262 83.638 9. CREDITORS: AIAOUNTS FALUNG DUE wrrHIN ONE YEAR 2023 2022 Accruds and defèrred income Accrual for grants payable 88.767 24.240 55.714 15,665 113.007 71.379 10. ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS: UNRESTRICTED 2023 2022 Flxed asset inveslmonls Current aSS815 Cuffent liabllltles 666.303 262.244 113.00 626.015 247,942 815.540 802 578 Thg unreslricted frjnd 15 usgd In rthence of the charf5 Prlnclpal tiVleS as explained In the report of fh9 Board: 11. NEf MOVEMENTS IN FUNDS Galns and Loss•s At 0110112023 lTrcomlng R050urc•s Outgolng Resourc8s At 3111212023 Unrestriclod Funds.. General Fund 802.578 175.794 199,661 36.829 815.540 Th8 Gengral Funds repr88gnt thg frfjg funds of tha charly whkh aro rt deslgnate(I for partlcular purposes.
7.4 NPPG A PRIVATE COMPANY UMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 12. NET INCOME FROM AND TRANSACTIONS WITh RELATED UNDERTAKINGS The Charity owns S0%- of th8 ordinary share capSlal of its associat8 RCPCH Publlcations Llmlied. further details of which are glven In note 7. RCPCH Publicallons Limlted makes gift paymen15 10 its sharohotders. usually its total nat profil. The share dua to NPPG amounts to £100.226 (202Z' £80.744) In thgS9 finanGlal Statements. RCPCH Publicaljons Limited publish&s a formulary lor NPPG aimed at pharmacists. paedlamclans. general praGlitioners. nurse prescribers and other health care professlonals. The alm of thls formulary is to asslst those who prescribe. dlsponse or adminlsler medirin85 for ¢hlldren. The fomiulary ts unusual in that Ihey cover th8 off-label us& of medlclnes and also Ilsl unllcens8d medicings necgssary for the treatment of thildron. 'NPPG is not a parent compary and thereforg the nvestment In RCPCH Publlcatton8 Limltad has not been accounted for uslng the equty method. Had it been accounted for u¥lng the equty mBlhrxl there would not be ary change lo the results of NPPG because RCPCH Publl¢alion$ Limiled has no a¢cumulat8d resurv8s and has not made a profil or loss for the year. This Is because all the pmfils of RCPCH PubiieAtions Llmtied have baen.gified lo NPPG as a 50'h shareholder and to thè charity Royal College of Paediatrics and Chlld H8allh as the other 50% shaTèholder. RCPCH Publlcatlons Limited has an a(toUnng r8f6r8nce dale of 31 Augutst and a 8umiiiary of ils trading results is shown below. RCPCH PubllGatlons Llmlted: Summary Rosults 3110812023 3110812022 Tumover Cost of sa195 and admln18tratNg expensas 238.1B2 200.463 39,032 Operattng profft 199.091 161,431 intergst recelvable 1.363 57 N8t Profit 200.454 161.488 Charltable Trading Funds: Balancè at 1 Sapt&mber Net profrt To be gift8d to RCPCH for year ended 31 August To bg gifted to NPPG for ytiar ended 31 August 161,488 (80.7441 80,744 11(KJ.227) 100.227 Baknce al 31 August Charity share: BaL8n¢e at 1 September BaFanGg at 31 August
NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMEhrrs FOR THE YEAR ENDED 31 DECEMBER 2023 The Brlils'h Nallonal Fonmulary for Chlldren (BNFCI 18 pfofJuc8d as a joint venlurg, the ¥Frang6men18 for which were forniallsed In an agTeémenl befv48en "RCPCH Publlcations Llmll8d, The Royal Pharmaceutlcal Sodely and BMJ Publlshlng Group Llmlled dal8d 13 Aprll 2005. Th8 lolnt venturas then enlgrod Into a thro8 year Supply agreement wh lh8 Departmenl of Heallh datsd 20 September 2005 lo ensure 811 relevant h68llh prolessional¥ In England rèc8N6d the BNFC. On 9 March 2011, the Pae(Ilatr]c Publlcallons Board Gonsidered, agre8d and slgn8d the nèw BNFC contract wllh NICE (National Instllule of Cllnical Excell8ncol for the bulk purcha8& 01 the I0ulary over the ngxt eight yaars. The flrsl edltlon of the BNFC wa8 pub115hed In S8Ptember 2005 wllh the webslto golng Ilve that month and publicallon of a CD-ROM vernlon in October 2005. The year ended 31 Augu¥t 2023 prlnclpally Indudes Ihg company's shaia of Income 8$50¢ialed wlth d•veloplng and publlshlng the nlftaloenlh 8dlUon of BNFC. Durlng 2021 a new tsvelvo year contract was $lon8d wllh NICE. 13. RELATED PARTY TRANACTIONS RCPCH Publlcallons Lim119d, whlch Is an assoclale of NPPG, glfted NPPG £100,227 (2022: £80.744> for the ygar to 31 December 2023. 14. TRANSACTIONS WITH DIRECTORS AND TRUSTEE8 None otthe dlreGtor8 rocefvod any r8mun8rallon IOT thelr 8ervIc durlng lh8 yaar. Flva dlr@clor& w8ra relmbursad £1,157 for travel costs Ineurr8d durtng the year. In 2022. four dlrectors wara r8lmbursed £1.191 for Irdvel expènsès. 15. ULTIMATE CONTROLLING PARTY The charltable company18 undo1 tho control ofthe Board. 16. FINANCIAL COMMrrMENTS Tol81 finonGlal commllments whlch are nol Included In the bBlance Sheet are £24.240.
NPPG A PRIVATE COMPANY UMITED BY GUARAKfEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 17. FINANCIAL INSTrUMENTS Th& cIng amounts of thg fla1 slatemenls are as k41ows: 31112r2023 3111212022 Measured at fairvalue thrDugh not InMPlexpen(th. Flxed asset listed WNeytments {rKJIg n 666.301 626.013 Dobit in¥twmants mBasurgd at aTh¥ytwl eo Other debtots (note 8) AnUnt ow8d by related undertaw (rth 8) 3.036 100,226 2.894 80.744 83.638 Flrwnclai IFabilitses nwr8dAt amorti8ed tx)str. ACC15 and deferred wjcome (note 9) Accrual for grants payable (nolg 9) 88,767 24.240 55.714 15.665 113007
NPPG A PRIVATE COMPANY LIMITED BY GUARAKfEE INCOME AND EXPENDITURE AccouKr FOR THE YEAR ENDED 31 DECEMBER 2023 2022 INcoMe Mernbef subs¢riPtlons Corporate donation Donation from RCPCH PublIcathS Ltd Inco from managed kwestmeTht prt 25J78 37,245 100.227 12.944 18.819 3.715 80.744 11.753 175.794 114.831 EXPENDMJRE Grants Inforniaflon officer soryios Website hosbng MeMrShiP Ilaison oflkar seNices Post and stationery Travelling expenses Technical Ilterature Admlnistration ond cleri(21 supptyi Auditors. remuneration Sundry 'InYeslment rnagement f8es Insurance Conforence expenses Posltion statement officer Education and trainlng officor Trgasurer Profil8 disbursements Profes8lonal1gad 24240 37.569 1731 15.665 35.000 19fi32 20 6.012 9265 15.000 7,120 3,368 9.553 20.365 10.028 9.484 5.927 20.418 17.474 14.050 9.741 5.730 4.037 7,372. 12,476 1.959 4.345 2.895 13.671 199.596 153,638 (23.802) (38.807> Flnance costs Bank charges 60 NET EXPENDttURE FOR THE YEAR (38.8671