NPPG A Private Company Limited by Guarantee Company Number: 4620347 Registered Charity Number.. 1117648 ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE CONTENTS Page Reference and Administrative Details Report of the Board {Including Directors, Report) Independent Auditors, Report Statemgnt of Financial Activities (Including Income and Expenditure Acwunt) Balance Sheet Accounting Policies Notes to the Financial Statements Income and Expenditure Account
NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE REFERENCE AND ADMINISTRATIVE DETAILS DIRECTORS.. S R Tomlin N Gooding N Christiansen P Sanderson C Benn SECRETARY: Profile Productions Limited CHAIR: N Christiansen TREASURER: P Sanderson REGISTERED OFFICE., Boundary Hous8 Boston Road Hanwell London W7 2QE COMPANY NUMBER: 4620347 REGISTERED CHARITY NUMBER.. 1117648 STATUTORY AUDITOR.. DonnellyBentley Ltd Chartered Accounlanls & Statutory Auditor Hazlemere 70 Chotl8y Ngw Road Bolton Lancashire BL14BY BANKERS: HSBC 525 Prescot Road Old Swan Liverpool L13 5UU
A PRIVATE COMPANY LIMITED BY GUARANTEE REPORT OF THE BOARD {AS TRUSTEES AND DIRECTORS) FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees. who are also dirèclors of the charity for the purposes of thè Companies Act, are pleased to present their annual report together with the audited financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORPI 'Accounting and Reporting by Charities, in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Acl 2011 and Accounting and Reporting by Charities-. Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland published in Octob8r 2019. 1. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng Document Th8 organisation Is a charitable company limited by guaranteg, incorporated on 18 Dècember 2002 and registered as a charfty since 22 January 2007. It is governgd by its Memorandum and Articles of Association. As a registered Gharity the company is non-profit making and its directors and trustees are volunteers. The company ha5 been incorporated without share capital and it is limited by guarantee, lo a maximum of £1 by each of ils members. Appointment of Trustees The directorsllrustees are appointed by the NPPG as the directorsltrustees have the power under the goveming documents to co-opt individuals who support the objects of the organisation. Truste8 Induelion As part of their induction, the new directorsltrustèes are provided with information about the charily. the mana9ement structure, its history and working practices. In addition they are also provided with extracts of the Memorandum and ArtIGles of Association plus information from the Charity Commission and Companies Hous8 regarding the duties and responsibilitios of diredors and trustees. The DirectorslTrustees who served during th8 year are listed below: 31 December 2024 Members: Ms Chloe Benn (appointed 08101124) Mr Stephen R Tomlin Mr Nigel Gooding Ms Nanna Christiansen Mr Paul Sanderson 31 December 2023 Ms Abigail R Mee (resigned 29109123) Mr Stephen R Tomlin Mr Nigel Gooding Ms Nanna Christiansen Mr Paul Sanderson (appointed 29109123) Rlsk revlew Tho Board has conducted its own review of the major risks to which the charity is OXPDS8d. and systems have been established to mitigate those risks. Organlsational Structure NPPG is managed by its Board of M&mb8rs and an executive committee which meets four times a year.
NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE REPORT OF THE BOARD (AS TRUSTEES AND DIRECTORS) FOR THE YEAR ENDED 31 DECEMBER 2024 Minutes from the previous meeling and discussion papers are circulaled before the scheduled meeting. The discussion papers are tabled either by a directorllrustee or the executive comTniltee. During the meetings the progres5 of the past months is assessed and considered against the targets and aims. The current status of the planned work is considered and discussed. Future aims and ambitions are considered in conjunction with the ongoing programme. Any discussion papers circulated before the meeting will be discussed ar)d considered. 2. OBJECTIVES AND ACTIVITIES The principal activities conlinue to be the advancement of education and training in paediatric and neonatal pharmacy. including the undertaking of research and the provision of information and advice ¢onGerning paediatric and neonatal pharmacy for th@ benefft of the general public. 3. PUBLIC BENEFIT We have referrred to the guidance in the Charity Commission's general guidance on public benefit when ravi8wing our objectlV8s and activities and in planning our future aGtiviti8s. In particular the trustegs consider how planned activities will contrlbute to the aims and objectives they have set. 4. ACHIEVEMENTS AND PERFORMANCE IN THE YEAR Invofvement in a lolnt venture to publish a National Formulary of Medicines for Chlldrgn {BNFC). This is widely used by Health Care Professionals across the UK to ensure that medicines are used in children safèly and effectively. Involvement in a joint venture with Medicines for Children to develop information leaflets and support website development to develop resources for the parents of children who are prescribed medicines for various condilions, The NPPG website has been relaunched with a more modem design. The new website improves the user experience. The content and information available have also been reviewed and updated . Study days and 'bilesize' learning events have continued and are now being carried out either face to face or remolely with continued success. Publication of several position statements to support coll8agues in paediatric medicings management issues. The annual NPPG conference was held successfully A Research grant continues to support thg Sixpence study and a new Research grant was made to support a joint proposal related to 3D printing of medicines Continue lo monitor and influence national policy in relation to children's medicines practi. NPPG works closely to influence policy by working with NICE. MHRA, DH and RPS. The NPPG specialist intgresl groups have expanded further and held several training events on-line lo provide education and support for members and to attract new member5 to NPPG. Continued to produce the paediatric IV guides in conjunction with Medusa. Working with the RPS as one of its affiliated specialisl partnership groups to aid cr&dentialing for our membership. Increased engagement with primary care and comrnunity colleagues on education and information around medicines for children in the community, including the development of labelllng standards. InfonT)ation officer has responded to several consultations from NPC, RPS, MHRA, EMA, Health, and Care Professions Council and NICE in addition to responding to requests from the membership via the website's message board.
NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE REPORT OF THE BOARD (AS TRUSTEES AND DIRECTORS) FOR THE YEAR ENDED 31 DECEMBER 2024 ACHIEVEMENTS AND PERFORMANCE IN THE YEAR continued... NPPG has put a proportion of capital irrto inve51ments managed by "Rathbones. a company , who 5peciali5e in helping charities to invest theii capital in a relatively safe and low risk manner. This company 15 managing the portrolio with input from NPPG in accordance with our investment policy document lo enhance future income from our capital. Ongoing work to standardise the concentrations of IV infusions across 811 age groups continues .The NPPG has engaged with industry and policy makers on how to progress Ihe adoplion of standard concentration IV infusions into practice Continue lo develop an unlicensedlspecials formulary and lo aid primarylsecondary care interface issues, collaboraling wilh BNFC for publication. NPPG continues to use corporate paekages to attract pharmaceutical industry sponsorship to further its goals. NPPG continues to work with the Chief Paediatric Pharmacist Group to improve Gommissionin9 for r8gional procurement specialists to ensure formulatK)ns purchased will be suitable for use within the paediatric population. NPPG has taken out indemnity insurance to coverthe company should any of these statements be challenged. NPPG has reviewed and increased its SLA5 Wlth partner Trusts to support its aims and objectives NPPG provides expert advice to the BNFC when monographs are reviewed and updated Increased engagement with colleagues from drfferent care settings to improve understanding of pharmaceutical care in children NPPG conlinues to work with regional procurement specialists to ensure formulations purchased will be suitable for use within the paediatric population and is involved in advising on national drug shortages for the paediatric population. Regional subgroups have expanded and met through the year to provide networking opportunities and study days, respectively. The regional subgroups have been encouraged to become more involved in committee activities. 5. FINANCIAL REVIEW The deficit for the year was To which is added the retained surplus brought forward {33.513) 815.540 Leaving a surplus carried forward of 782,027 NPPG general fund administers the day to day running of the charity. Income is derived from member subscriptions, publications and donations. Investment Pollcy Under the Mémorandum and Articles of Association, the charity has th8 power to invest In any way the trustees wish. The trustees, having regard to the lÈquidity requirements of the charty and to the reserves policy, have plarRd a proportion of capital into investments with a company "Investe¢° who specialises in helping charities to invest their capital in a relatively safe and low risk manner. The company will manage the portfolio on behalf of NPPG in accordan with the charity's investment policy lo enhance future income from capital. The remaining capital remains within intarest b8aring Gurrent a¢counls.
NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE REPORT OF THE BOARD (AS TRUSTEES AND DIRECTORS) FOR THE YEAR ENDED 31 DECEMBER 2024 5. FINANCIAL REVIEW continued... Reserves Policy It is the policy of the charty to maintain unrestricted funds, which are free reserves of the charity, at a level which equates to approximately six months unrestricted expenditure which would be in the region of £130,000 at 31 December 2024. This provides sufficient funds to cover management. administration and support costs and allows the charity to react to Changes in funding in a constructive manner. Currgntly unrestricted funds, which are also total funds, are £782,027. Tha Trustees arè aware of the posilion. They are investigating increasing expenditure in activities which support the objects of the Charity as outlined in the plans for futur8 periods. 6. PLANS FOR FUTURE PERIODS The charity plans continuing the activities as outlined in (2) above in the forthcoming years by.. continuing to develop. jointly with other interesled parties and charities. Patient Information Leaflets (PILS) for a greater range of medlclnes used in children. working with other interested organisations to consider ways of risk managing the use of unlicensed oral liquid medicines in children. working with CPPG in developing staffing standards for paediatric pharmacy services further expanding education and training opportunities including e-leaming in different areas such as paediatric and neonatsl intensive care. paediatric oncology and mèdicines reconciliation. conlinuing io provide education and training opportunities for NPPG members by hosting an annual conference and specialist study days. facilitating research and development in the field ol paediatric pharmacy by hosting research awards and providing a support network for colleagues embarking on research reviewing the NPPG'S finances to ensure resources are maximised to invest in supporting its members lo meet the charity's mission and vision. NPPG monitoring investment portfolio proactively to ensure income is generate by working closely with our investment advisors. NPPG promoting corporate sponsorship packages lo industry to enhance our investments and increase income continuing involvement in a joint venture to provide spècialisl input into materials used to train non-specialist phannacists and pre-registration pharmaGists about issues relating to the safe and effective use of medicines in children. maintaining a national IV database suitable for use in children and to develop one suitable for use in neonates. working with Ilkemlnded phamiaceutical companios to craate varlous tlers of corporala sponsorship of NPPG to raise capital to maintain our work. in lieu of reducing funds from the contract with NICE for BNFC year on year. working more closely with the Paediatric Chief Pharmacists group to ensure similar subjects ar8 being covered by all aspects of the professron.
NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE REPORT OF THE BOARD (AS TRUSTEES AND DIRECTORS) FOR THE YEAR ENDED 31 DECEMBER 2024 6. PLANS FOR FUTURE PERIODS continued... working with CPPE to update paediatric educational packages on their webstte, and to discuss Iheir hosting of the oncology packages b8ing developed by the POP group. acting as expert advisers to BNF Publications when asked to do so. NPPG will be reviewing the need for a community pharmacy link to the group. rogular review and update of the risk r8gister as appropriate. ngaging pharmacy technicians proactively by supporting the work of the newly established Paediatric Pharmacy Technician SIG. 7. EVENTS SINCE THE YEAR END The NPPG conference for 2025 is being planned and will be held in Newcastle in November 2025. 8. FUNDS The funds held by the Charity are detailed in note 11 to the accounts. 9. TAXATION Exemption to taxation has been granted to the charitable company by virtue of its Gharitable status. 10. STATEMENT OF TRUSTEES AND DIRECTORS RESPONSIBILITIES The trustees (who are also directors of NPPG for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial statetnents 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 fi'nancial 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 the year. In preparing these financial statements the trustees are required to- select suitable accounting policies and then app them consistently.. observe the methods 2nd principles in the Charities SORP 2019- make judgements and estimates that are reasonable and prudent., stste whether applicable UK Accounting Standards have been followed., prepare the financial statements on the going concern basis unless it is inappropriate to presume thal the charitable company will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and 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.
NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE REPORT OF THE BOARD (AS TRUSTEES AND DIRECTORS) FOR THE YEAR ENDED 31 DECEMBER 2024 11. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS We. the trustees of the company who held office at the date of approval of thasa Financial Statemants as set out above each confirm, so far as we are aware. that- there is no relevant audit information of which the company's auditors are unawar8- and we have taken all the steps that we ought to have taken as Irustees in order to make ourselves aware of any relevant audit informatFon and to 8stablish that the Gompany's auditors are aware of that information. 12. SMALL COMPANY EXEMPTION In preparing this reporl the directors have taken advantage of thè special provisions of Part 15 of the Companies Act 2006 relating to small companies. 13. AUDITORS A resolution will be proposed at the Annual General Meeting to reappoint thg Auditors. DonnellyBenlley Limited, Chartered Accountsnts and Regist&red Auditor. SIGNED ON BEHALF OF THE BOARD BY'.- Nanna Christiansen. Director 3 S8ptemb8r 2025
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE FOR THE YEAR ENDED 31 DECEMBER 2024 Opinion We have audited the financial statements of NPPG (thè 'charilable company,) for the year ended 31 December 2024 which Comprise the statement of financial activiti8s, the balance sheet and notes to the financial statements. inclL5dlng a summary of significant accounting policies. The financial reporting framework that has been applied in Iheir preparation is appli¢able law and United Kingdom Accounting Standards. including Financial Reporting Stsndard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements= give a true and fair view of the state of the charitable company's affairs as at 31 December 2024, and of its incoming resources and application of resources, including ils income and expenditure, for the year then ended,. have been property prepared in accordance with United Kingdom Generally Accepted Accounting Pradice., and hav8 been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinlon We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are furthgr describgd in the auditor responsibilitios for the audit ofthe financial statgments saction of our report. We are independent of the charitable company in accordance with Ihe ethi1 requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibililies in accordan with these requirements. We believe that the audit evidence we have obtained is sufficient and apprcpriate to provide a basis for our opinion. Conclusions rolating to going concern In auditing the flnancial statements, we have concludod that the trustees. use of the going concern basls of a¢ttJunting In the praparalion of th8 financial statements is appropriate. Based on the work wa havo performod, we hav@ not identified any material unc8rtalnties relating to events or conditions that, individually or collectively, may cast slgnificant doubt on the charitablg company's ability to continue as a going concem for a period of at least twelve months from when the financial sLqtements are authorised for issue. Our responsibilit18s and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE FOR THE YEAR ENDED 31 DECEMBER 2024 Othor Information The other informatron comprises the information included in report of the board, otherthan tho financial statements and our auditor's report thereon. The trustees are responsible for the oth8r infonnation containgd within the report of the board. Our opinion on thg financial statements does not cover the other information and, except to the extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such malerial inconsistencies or apparent material misstatements, we are required to determine whether th is gives rise to a material misstatement in the financial statements themselves. If. based on the work we have perfomied, we conclude that there is a material misstatement of this other information, we are required to report Ihal fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the Report of the Board (incorporating the directors. report) for the financial year for which the financial statements are prepared is Gonsistent with the financial statements: and the directors. report has been prepared in accordance with applicable legal requirements. Matters on whlch we are required to report by exceptlon In the lightofour knowledge and understanding ofthe charitable company and its environment obtained in the Course of the audit, we have not identified material misstatements in the directors, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you rf, in our opinion- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us,. or the financial statements are not in agreement with the accounting records and returns: or certain disclosures of directors. remuneration specified by law are not made. or we have not received all the infomiation and explanations we require for our audit., or the trustees were not entitled to prepare the financial stat8ments in accordance with the small companies, regime and take advantage of tho small companies, exemptlons in preparing the dirèctors, report and from the requirement to prepare a strategic report.
INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE FOR THE YEAR ENDED 31 DECEMBER 2024 Rosponslbilities of trustees As 8xplained more fully In th8 trustees, responsibilities statement set out on pag8 2.4, th8 trustges (who are also the directors of the charitable company for the purposes of company law) ar8 responsible for the preparallon of thè financial stat8ments and for being satlsflad that thoy giv8 a true and fair view, and for such internal control as the trustees cletermine is necessary to enable the praparalion of financial statements that are free from material misstatement. whether due to fraud or error. In preparing the financial statements, the trustees are responsible for ass8ssing the charilable company's ability to continue as a going concern, disclosing, as applicable, matt8rs related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations. or have no realisti¢ alternative bul to do so. Auditor's responsibil itios for tho audit of thg financlal statements Our objediv8s are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that in¢ludes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an auditmnducted in accordance with ISAS {UK) will always detect a material misstatementwhen it exists. Misstatements can arise from fraud or error and are considered material if, individually or in Ihe aggregate, they could reasonably be exp8Cted to influence the economic decisions of users taken on the basis of these financial statements. Irregularilies, including fraud, are instances of non-compliance with laws and r8gulations. We design procodures in line with our responsibilities, outlingd above, to detect material misststam8nts in respect of irregularitie5, including fraud. The specific procedures for this engagement and the extent to which these are capable of deleGting irregularities. including fraud is detailed b810w'. We obtained an understanding of the legal and regulatory framework applicable to the charitable company and the sector in which it operates and considered the risk of non- compliance with applicable laws or regulations. We determined that the following laws and regulations were most significant to the charitable company= the Companies Act 2006 and thè Charities Act 2011. Wa designed audit procedures to respond to the risk, recognizing that the risk of not detecting a material misstatgment due to fraud is higher than the risk ofnot detecting one resulting from error, as fraud may involve delib8rat8 concealment, lor example. forgary or intentional misrepresentations, or through collusion. We obtained an understanding of how the charitable company is complying with those legal and regulatory frameworks by making enquiries of the management. We Gorroborated our enquiries through our review of board minutes. Our t8sts also incauded agreeing th8 financial statements disclosur8S to underlying supporting ¢Jocumentation. There are inherent Ilmitations in the audit procedures describad above and. the furthgr removed non-compllance with laws and regulations is from the events and transactions r8flected in the financial statements, the18ss Ilkely we would become aware of It. Wa dld not Identify any k8y audit matters relating to irregularities, including fraud.
INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE FOR THE YEAR ENDED 31 DECEMBER 2024 We also addressed the risk of management override of internal controls, induding testing joumals and avaluating whether there was evidenGe of bias by thg directors that represented a risk of material misstatement due to fraud. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.ukJauditorsresponsibilities. This description forms part of our auditor's report. Use of our report This rgport is made solgly to the charitable company's mombers. as a body, in accordance wtih Chapter 3 of Part 16 ofthe Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable comparFy'S members those matters we ar8 raquired to ststg to them in an auditor's report and for no other purpos8. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable Gompany and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Cdo Catherine Cole FCA (Senior Slatutory Auditor) for and on behalf of DonnellyBentley Limited Chartered Accountants & Statutory Auditor 70 Chorley New Road Bolton BL14BY 3 September 2025
NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024 UNRESTRICTED 2024 2023 Note INCOME AND EXPENDITURE INCOME: Donations and18gaciÉs Charitable activities Investment income 128,680 28,309 13,023 137,472 25,378 12,944 TOTAL INCOME 170,012 175,794 EXPENDITURE: Charitable activitias.. Advancement of èducation and training in paediatric and neonatal pharmacy 257,508 199.661 TOTAL EXPENDITURE 257,508 199,661 NET EXPENDITURE 187,496) (23,867) OTHER RECOGNISED GAINS AND LOSSES: Gainl(Loss) on revaluation of fixed asset investrnents 53,983 36,829 NET MOVEMENT IN FUNDS FOR THE YEAR 133,513) 12.962 Reconclllatlon of Funds Fund Balance Brought Forward at 1 January 2024 815.540 802.578 Fund Balance Carried Fomard at 31 December 2024 782,027 815,540 Movements in funds are disclosed in note 11 to the financial ststements. All incoming resources and resources expended are derived from continuing activities. There are no other gains or losses other than those noted above and therefore no separate statement of totsl recognised gains and losses has been prepared. The a¢Gompanying accounting policie5 and notes form an integral part of these financial statement5.
NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note FIXED ASSETS Inv8Stm8nts 722,964 666,303 CURRENT ASSETS D8btors Cash at bank 98,016 180.718 103,262 158,982 278.734 262.244 LIABILITIES Cr8dilors falling due within one year 219 671 113,007 NET CURRENT ASSETS 59,063 149,237 NET ASSETS 782,027 815,540 THE FUNDS OF THE CHARITY: Unrestricted Funds 782,027 815,540 These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies 2006 relating to small cotnpani8s and constitute the annual accounts required by tho Companies Act 2006 and are for circulation to members of the company. The financial statements on pages 4 to 7 were approved by the Board of the Directors and signed on ils behalf b Nanna Christiansen. Director 3 September 2025
NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE ACCOUNTING POLICIES FOR THE YEAR ENDED 31 DECEMBER 2024 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES General Infomiatlon and basis of preparatlon NPPG is a company limited by guarantee and has no share capiial. In the event of the charity being wound up, the liability in respeGtof the guarantee is limited to £1 pgr memberofthe charity. Tha address ofthe registered office is Boundary House, Boston Road, Hanwell, London. W7 2QE. The nature of th8 charity's operalSons and principal activities are the advancemgnl of education and training in paediatric and neonatal pharmacy including the undertaking of research and the provlsion of information and advice Gonceming paediatric and neonatal pharmacy to the b8nefit of the general public. The charity constitutes a public benefrt entily as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charitl8s'. Slalement of Recommended Practice applicable lo ch8rities preparing their accounts in accordance with the Financial Reporting Standard appliGable in the UK and Republic of Ireland issugd in October 2019, the Financial Reporting Standard applicable in the Unitad Kingdom and Republic of Ireland {FRS 102). the Charities Act 2011. the Companlas Act 2006 and U K Generally Accepted Accounting Practice. Exemption has been takgn from preparing a cash flow statement under the Charities SORP 2019 as gross income is below £500,000. The financial statem8nts are prepared on a going concern basis under the historical cost convention. modifiéd to include certain items at fair value. The financial slatemenls are psented in sterling which is the functional currency of the charity. Th8 signifiGant accounting policies applied in tho preparation of these financial statamenls ar8 set out below. These policies have been consistently appli@d to all years presented unless Otheis0 stat8d. CONSOLIDATION The financial statements contain irrformation about NPPG as an individual Gompany and do not contain consolidated information about is associate, RCPCH Publications Limited. NPPG is not a parent company and is therefore not required to account for Ihe investment in its associate using the equity method. The investment in its associate has been measured at cost less impairment. FUND ACCOUNTING General Funds are unrestricted funds whlch represent the accumulated funds of the company that are not subject to any restrictions regarding their use, and are available in the furtherance of the general objectivos of thg company. Designated Funds have been designated by the Board for particular purposes, and are also unrestricted as the Board can re-assign those monies if il so desires.
NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE ACCOUNTING POLICIES FOR THE YEAR ENDED 31 DECEMBER 2024 Restricted Funds can only be used for their stated purpose, due to specific conditions imposed by the providers of those funds or grants. The costs of raising and administering such funds are charged against the specific fund. INCOME RECOGNITION POLICIES All incoming resources are included in the Statement of Financial Activities {SOFA} when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. For donations to be recognised the charity will have been notified of the amounts and the seltlement date in writing. If there are Gonditrons attached to the donation and this requires a level of performance before entitlement can be obtained then income is defeired until those condition5 are fully met or the Irilment of those conditions is within the control of the tharity and it is probable that they will be fulfilled. Grants or income relating lo a future accounting period or received in advance of the attributable costs is deferred and carried forward as grants and income in advance in Greditors. For legacies, entitlernent is the earlier of the charlty being notrfied of an impending distribution or the legacy being received. Investment income is earned through holding assets for investment purposes. It Gomprises interest receivable on cash balances held in appropriate interest bearing accounts and dividends received from shares held as part of a managed investment portfolio. No amount is included in the financial statements for volunteers time in line with the SORP. EXPENDITURE Expenditurg is account9d for on an acLruals basis. Expenditure is recognlsed where there is a legal or constructTrve obligation to make payments to third parties. it is probable that the settlement will be required and the amount of the obligation can be rn8asured reliably. Expenditure includes irrocoverable VAT and is reportod as part of the oxpgnditure to which it relates. Charitable expenditure comprises those costs incurr9d by the charity in th8 delivery of r(s activities and s8rvic8s for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. All costs are allocated between the expenditure categorie5 pn a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis. Grants payable to Ihird parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notrfied of the grant as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfill8d conditions are outside th8 control of tha charity.
NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE ACCOUNTING POLICIES FOR THE YEAR ENDED 31 DECEMBER 2024 VAT ACCOUNTING All grant income and donations are oulside the scope of VAT. Irrecoverable VAT on expenditure is not analysed separately but attributed to the category of èxpenditure on which it is incurred. FIXED ASSET INVESTMENTS Inv8stm@nts are recognised inltlally at fair value which is normally the transaction price excluding transaction Gosts. Subsequently, they are measured at fair value with Changes recognised in 'net gains l (losses) on investments, in the SOFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment. Investments in associates are measured at cost less impairment. FOREIGN CURRENCIES Assats and liabilities in foreign currencies are translated Into slerling at the rates of exchange ruling at the balance sheet date. Transactions In foreign currencias are translated into st8rting at the rate of èxchange ruling at thg date of transaction. Exchange differences are taken into account in arriving at the operating result. DEBTORS AND CREDITORS RECEIVABLEIPAYABLE WITHIN ONE YEAR Debtors and creditors with no staled interest rate and receivablelpayable within one year are recorded at transaction price. Any losses arising from impairmenl are recognised in expenditure. CASH AT BANK AND IN HAND Cash at bank and in hand includes cash and short term highlylllquid investments with a short maturity of three months or less from the date or acquisition or opening of tha deposit or similar account. TAXATION The charity is an ex8mpt charity within the meaning of schedule 3 of the Charit18s Acl 2011 and is Considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2022 and therefore it meets the definition of a charitable company for UK corporation tax purposes. GOING CONCERN The financial statements have been prepared on a 90ing concern basis as the directors believe that no material uncertainty exists. The directors have Gonsidered the 18vel of funds held and the expected level of income and expenditure for e1ve rnonths from authorising these financial statements. The budgeted income and expenditure is sufficient with Ihe level of reserves for the eharty to bè able to continue as a going concern.
NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE ACCOUNTING POLICIES FOR THE YEAR ENDED 31 DECEMBER 2024 JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY The preparation of these finanGial statements requirps certain judgements, estimates and assumptions that affect the reported amounts ofassets, liabilities, income and expenses. Estimatgs and judgements are continually evaluated and are based on historical experience and other factors. including expectations of future events that are believ8d to be rèasonable under the circumstances.
A PRIVATE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1. INCOME Income is directly attributable to the principal activities of the company. All income in 2024 and 2023 was attributable to unrestricted funds. 2. DONATIONS AND LEGACIES Total Funds 2024 Total Funds 2023 Donation from RCPCH Publications Ltd (see note 12) POP sponsorships Corporate donation 89,833 2,699 36,148 100,227 37,245 128,680 137,472 3. INCOME FROM CHARITABLE ACTIVITIES Total Funds 2024 Total Funds 2023 Members. subscriptions 28,309 25,378 4. INVESTMENT INCOME Total Funds 2024 Total Funds 2023 Bank interest Inwme from managed investment portfolio 13,023 12,944 13,023 12,944
NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 5. ANALYSIS OF CHARITABLE EXPENDITURE 2024 2023 Grants Information officer ServIS Membership liaison officer services Post and ststionery Travelling expenses Technical literature Administration and clèrical support Insurance Audit Accountancy Sundry Investment management costs Conference expenses Position statement officer Education and training officer Wabsita hosting Treasurer Profil@ disbursem8nts Bank charges Professional lead Medicines for Children 12,211 48,750 13,759 24,240 37,569 7,043 4,459 8.631 24,602 6.219 6,080 4.240 740 10,345 33,886 20,022 14,049 4.557 588 9,042 292 28,370 6,666 3,368 9,553 20,365 5,927 5,788 4,240 9,484 20,418 17,474 14,050 2,731 980 2,695 65 13,671 257.508 199,661 All expenditure in 2024 and 2023 was attributab19 to unrestricted funds. Support costs included in charitable expenditure are £61,382 (2023- £52,948). Included within support costs are £14,77912023- £13,396) of governance costs. During the year ended 31 December 2024 a grant payment of £12,211 was made to an individual. The grant was to fund a research project relating to Standard Conoentration Infusions in Children and Neonates. During the year ended 31 December 2023 a payment of £24,240 was made in relation to this grant. Volunteers provldg important support for the charity, in particular through consultations with NICE and providing feedback and support for the position ststement officer and the education and training officer. 6. STAFF COSTS There are no employees who received total employee benefits (excluding employer pension costs) of more than £60,000 (2023: nil). Neither the Chairman nor any other directors receivèd any remuneralion for their services during the year, thus there was no directors or key management personnel remuneration benefits (2023.. nil). There werg no employees during the year excluding directors and voluntary staff (2023: nil).
A PRIVATE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 7. FIXED ASSET INVESTMENTS Managod Investment Portfolio Interest In Associated Underlaking Total COST OR VALUATION.. At 1 January 2024 Additions Disposal Revalualion 666,301 13,023 (10.345} 53,983 666,303 13,023 (10,345) 53,983 Al 31 December 2024 722.962 722.964 IMPAIRMENT: At 1 January 2024 and 31 December 2024 CARRYING AMOUNT.. At 31 December 2024 722.962 722,964 At 31 December 2023 666,301 666.303 Investments at fair value within the managed investment portfolio compri5e- 2024 2023 Equities Securiti8s Cash within investment portFolio Propety within investment portfollo Altemative assets 448,207 170,988 13,151 21,034 69,582 383,077 163,733 16,322 32,740 70,429 722,962 666,301 The investment managar is responsible for managing the investment portfolio in the best interests of the charity which involves th8 purchase and sale of shares. Any gains on the sale of shares are reinvested diredly in the fund and are therefore treated as unrealised by th@ charity. Investments within the managed investment portfolio are valued on the basis of mid-market prices from the appropriate Stock Exchange or from the relevant fund manager at the Balance Sheet dale. The increase in value cf the investmen15 amounting to £53.983 is an unrealised gain to be disclosed under Charities SORP 2019 and does not reflect any actual losses or gains realisèd by the charity from sales of investments. Investment management fees for th8 y8ar to 31 December 2024 were £10,34512023'. £9,484). NPPG owns 500/0 ofthe ordinary share capital of RCPCH Publications Limited and there is no controlling interest. Therefore the investment in RCPCH Publications Limited has bgan treated as an associate. Both companies are reglstèr8d in England and Wales.
NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 8. DEBTORS 2024 2023 Amount owed from related undertakings Prepayments Trade debtors 89.833 3,183 5,000 100,226 3,036 98,016 103.262 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Accruals and deferred income Accrual for grants payab18 Trade creditors 70,564 12,211 136,896 88,767 24,240 219,671 113,007 10. ANALYSIS OF GROUP ASSETS BETWEEN FUNDS: UNRESTRICTED 2023 2023 Fixed asset investments Current assels Current liabilities 722,964 278,734 (219,671) 666,303 262,244 (113,007 782,027 815,540 The unrestricted fund is used in furtherance of the charty's principal activities as explained in the report ofthe Board. 11. NET MOVEMENTS IN FUNDS Gains and Losses At 0110112024 Incoming Resources Outgolng Resources At 3111212024 unStriCted Funds.. General Fund 815,540 170,012 257,508 53,983 782,027 The General Funds represent the free funds of the charity which are not designated for particular purposes.
NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 12. NEf INCOME FROM AND TRANSACTIONS VVITH RELATED UNDERTAKINGS The Charityowns 500/u ofthe ordinary share capital of its associate RCPCH Publications Limited, further details of which are given in note 7. RCPCH Publications Limited makes gift payments to its shareholders, usually its total net profit. The shar8 due to NPPG amounts lo £89,833 <2023: £100,226) in these finanei81 statements. RCPCH PubliGations Limited publi5he8 a fomiulary for NPPG aimed at pharmacists, paediatriGians, general practitioners, nurse prescribers and othèr health care professionals. The aim of this formulary is to assist those who prescrlb8, élspense or administer medicines for children. The fomiulary is unusual in that they cover the off-label use Df medicines and also list unlicensed medicines necessary for the treatment of children. NPPG is not a parent ¢ompany and therefore the investment in RCPCH Publications Limited has not been accounlad for using the equity method. Had it been accounted for using the equity method there would not be any change to the results of NPPG because RCPCH Publications Limited has no acGumulated reserves and has not made a profit or loss for tha year. This is because all the profits of RCPCH Publications Limitgd have been gift8d to NPPG as a 50Q/o shareholdar and to the charty Royal Collgge of Paediatrics and Child Health as the other 50°/0 shareholder. RCPCH Publications Limited has an accounting reference date of 31 August and a summary of its trading results is shown below. RCPCH Publications Limited.. Summary Results 3110812024 3110812023 Turnover Cost of sales and adrninistrative expenses 226,021 30,3281 238.182 39,091 Operating profit Interest receivable Taxation 195,693 4,018 20.045 199.091 1,363 Net Profit 179,666 200,454 Charitable Trading Funds-. Balance at 1 September Net profit To b8 gifted to RCPCH for year ended 31 August To bo gifted to NPPG for year ended 31 August 179,868 (89,833> 89,833 200.454 (100,227) 100,227 Balance at 31 Augusl Charity share: Balance al 1 September Balance al 31 August
NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 The British National Formulary for Children {BNFC) is produced as a joint venture, the arrangements for which were formalised in an agreement beeen RCPCH Publications Limited, The Royal Pharmaceutical Sociely and BMJ Publishing Group Limited dated 13 April 2005. The joint ventures then entered into a three year supply agre8menl with the Department of Health dated 20 September 2005 to ensure all relevant health professionals in England received the BNFC. On 9 March 2011, the Paediatric PubllGations Board considered, agr88d and slgned the new BNFC contract with NICE (National Institute of CllniGal Excellenc8) for the bulk purGhase of the fomiulary over th8 next @ight years. The first edition of the BNFC was published in September 2005 with the website going live that month and publication of a CD-ROM version in October 2005. The year ended 31 August 2023 principally indudes the company's share of income associated with developing and publishing the ninet8enth edition of BNFC. During 2021 a new twelve year conlract was signed with NICE. 13. RELATED PARTY TRANACTIONS RCPCH Publications Limited, which is an associate of NPPG, gifted NPPG £89.833 (2023: £100.227) for the year to 31 December 2024. 14. TRANSACTIONS WITH DIRECTORS AND TRUSTEES None of the directors received any remuneration for their seNiees during the year. Five directors were reimbursed £2,086 for travel costs incurred during the year. In 2023, five directors were reimbursed £1,157 for travel expenses. 15. ULTIMATE CONTROLUNG PARTY The charitable company is under thè control of the Board. 16. FINANCIAL COMMITMENTS Total financial commitments which are not included in the balance sheet are £125.94312023- £24,240).
NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 17. FINANCIAL INSTRUMENTS The carrying amounts of the charity's financial statement5 are as follows: 3111212024 3111212023 Measured at fair value through net incomelexpenditure: Fixed asset listed investments (note 7} 722,962 666,301 Dgbit instrumgnts measured al amort15ed cost: Other debtors {note 8) Amount owed by related undertakings (note 8) Trade debtors (note 8) 3,183 89.833 5,000 3.036 100,226 98,016 103.262 Financial liabilities measLJred at amortised cost: Accrua15 and deferred income {note 9) Accrual for grants payable (note 9) Trade creditors (note 9) 70,564 12.211 136,896 88,767 24,240 219,671 113.007
NPPG A PRIVATE COMPANY LIMITED BY GUARANTEE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 INCOME Member subscriptions Corporate donatton Donation from RCPCH Publications Ltd Income from managed investmenl portfolio POP sponsorships 28,309 36.148 89,833 13,023 2,699 25,378 37.245 100,227 12,944 170,012 175,794 EXPENDITURE Grants Information officer services Website hosting Membership liaison officer services Post and stationery Travelling expenses Technical literature Administration and clerical support Auditors, remuneration Sundry Investment management fees Insurance Conference expenses Position statement officer Education and training offir Treasurer Profile disbursements Professional lead Medicines for Children 12,211 48,750 4,557 13,759 24,240 37,659 2,731 7,043 4,459 8,631 24,602 10.320 740 10.345 6.219 33.886 20.022 14.049 588 9.042 28.370 6,666 3,368 9.553 20,365 10,028 9,484 5.927 20,418 17,474 14,050 980 2,695 13,671 257,216 199.596 (87,204) (23,802) Finance Costs Bank charges 292 65 NET EXPENDITURE FOR THE YEAR (87,496) 123,867)