Registered number: 06324356 Charity number: 1122393
The Mary How Trust For Cancer Prevention
(A company limited by guarantee)
Unaudited
Trustees' report and financial statements
For the year ended 31 March 2021
The Mary How Trust For Cancer Prevention
(A company limited by guarantee)
Contents
| Page | |
|---|---|
| Reference and administrative details of the company, its Trustees and advisers | 1 |
| Trustees' report | 2 - 8 |
| Independent examiner's report | 9 |
| Statement of financial activities | 10 |
| Balance sheet | 11 |
| Notes to the financial statements | 12 - 25 |
The Mary How Trust For Cancer Prevention
(A company limited by guarantee)
Reference and administrative details of the company, its Trustees and advisers For the year ended 31 March 2021
| Trustees | M Follis, Chairman |
|---|---|
| B Lavin, Vice Chairman | |
| J Ross, Finance Director | |
| J Barder | |
| S Cemm | |
| G Leonard | |
| D Kirby (resigned 17 May 2021) | |
| M Toynbee (resigned 10 August 2020) | |
| S Trownson | |
| M Wratten | |
| Company registered number 06324356 Charity registered number 1122393 Registered office Unit 1 & 2 the Colonnades 17 London Road Pulborough West Sussex RH20 1AS Accountants Kreston Reeves LLP Chartered Accountants Springfield House Springfield Road Horsham West Sussex RH12 2RG |
Page 1
Trustees' report For the year ended 31 March 2021
The Trustees present their annual report together with the financial statements of the company for the 1 April 2020 to 31 March 2021. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.
Structure, governance and management
a. Constitution
The Mary How Trust, founded in June 1988, is a charitable company limited by guarantee, incorporated on 25 July 2007. It is governed by the Memorandum and Articles of Association of the charitable company and is controlled by a board of trustees whose members are elected at the Annual General Meeting and are directors for the purposes of company law and trustees for the purposes of charity law. Registered charity number 1122393; Company Registration No: 06324356.
The vision, mission and values of The Mary How Trust guide us and remain as important today as they were when the Charity was first formed back in 1988.
b. Method of appointment or election of Trustees
The management of the company is the responsibility of the Trustees, who all bring their own knowledge, skills and passion to benefit the charity. They ensure the continued strategic direction of the Charity. Elected and co‑opted under the terms of the Articles of Association, the Trustees have the power to appoint new or additional Directors/ Trustees.
c. Policies adopted for the induction and training of Trustees
The Board looks to recruit Trustees who have particular skills helpful to the charitable company. Potential new trustees/directors are required to write to the Chair of the Board, attaching a full curriculum vitae. A Trustee Information Pack is then issued. Following initial discussions, they are interviewed and become observers for a period. Trustees are offered a probationary period before being appointed. Appointments are ratified at the next scheduled AGM. All new trustees undertake a full induction procedure, including being made aware of their legal obligations under charity and company law, the contents of the Memorandum and Articles of Association, the committee and decision-making process and the recent financial performance of the charity. They are also given Charity Commission booklet ‘CC3’: ‘The Essential Trustee’. Board members are encouraged to attend appropriate external and online training events, at the expense of the charity, to help them fulfil their Board role more effectively.
All charities are subject to regulatory requirements that can be onerous and trustee responsibilities are not taken lightly.
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Trustees' report For the year ended 31 March 2021
d. Organisational structure and decision making
The Management Deed sets out how the charitable company operates. This is updated from time to time and agreed at full Trustee meetings. The full board of Trustees meets four times a year. The Management Operations Committee meets monthly (except for those months where a quarterly Board meeting is held in its place) to review and guide the operational and financial position of the charitable company. The Chair, Deputy Chair, Finance Director and two Trustees sit on this committee, along with the Chief Executive Officer. The Trustees delegate to this committee all day-to-day issues with a single spend limit of £20,000. All financial controls are delegated to the Finance Director on an annual basis. Meetings follow an agreed agenda with various standing matters, including full reporting of management accounts, risk, health & safety and safeguarding. It also participates in subgroups, as and when necessary. Day-to-day management of the Charity is delegated to the Chief Executive Officer. The Trust continued to maintain governance and effective controls during the COVID19 pandemic by virtual meetings.
e. Remuneration of Key Personnel
The Chief Executive Officer’s salary is reviewed annually by the Board of Trustees. The Management Operations Committee review all other salary rates and present their recommendations for the annual pay review to the Board for approval, and subsequent implementation. The Mary How Trust Board understands that its staff team is its greatest asset, and therefore is keen to ensure remuneration packages remain competitive within the sector. In order to achieve this, pay scales are bench marked against other organisations offering similar services.
f. Risk management
The Trustees and Management of The Mary How Trust have given due thought and consideration to the major risks to which the Charity may be exposed and have systems in place which are designed to mitigate the Trust’s exposure to major risks; this includes a risk management matrix and a business continuity plan, both of which are reviewed on a regular basis. Risk is an agenda item and discussed at all Management Operations Committee and Trustee meetings. The risk COVID 19 poses to the Charity is assessed on a regular basis and the trustees are confident actions to minimise the financial and operational effects of the virus and control measures implemented are in place and manageable.
The company is regulated by the Charity Commission, Companies House and the Care Quality Commission.
Objectives and Activities
a. Policies and objectives
The objects of the charitable company as set out in its Memorandum and Articles of Association are: ‑ To prevent sickness, in particular but not exclusively, by providing a Health Screening service to the general public with the aim of detecting all types of cancer in particular, life-threatening diseases in general, and to make this service available to all. ‑ To advance public education in general health matters, and in the prevention, and detection, of cancer and other life-threatening diseases.
b. Activities for achieving objectives
The Trust aims to achieve these objectives by providing a comprehensive health screening and advisory service with particular emphasis on early detection of cancers and other life-threatening diseases for adults over the age of 18 years old. The service has been located in the Pulborough Primary Care Centre since 2007. However, it has outgrown these premises due to increased demand and thus new premises providing more comprehensive facilities are planned for late 2021. The clinical team provides health screening
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Trustees' report For the year ended 31 March 2021
consultations, including ultrasound scans, to people from all walks of life. Instead of a fixed fee the charitable company invites donations that reflect a client’s financial position and ability to pay.
c. Main activities undertaken to further the charity's purposes for the public benefit
When reviewing the charitable company’s activities, planning its future strategic direction and making decisions, the Board of Trustees registers, and refers to, the Charity Commission’s general guidance on public benefit as in guides PB1, PB2 and PB3.
As a not-for-profit organisation, our charitable activities are planned to ensure we are delivering public benefit and we thus continue to place great emphasis on our charitable objectives. The Trust's screenings cost the charity in the region of £350 per person. The balance of the charitable company's overheads and capital needs are met by its fundraising activities, its charity shops, its supporters and by grants, donations, and legacies. The charitable company's mission is to make health screenings and healthy living advice accessible to all those in the community providing the facility to everyone, without discrimination, ensuring the widest benefit to the whole community. Health advice is given, and reports are provided both to clients and, with the clients’ consent, their GPs; the charitable company recommends that if further action is appropriate clients should contact their GP who will discuss the results with them and take matters forward as necessary. The Trust has operated with a mix of unpaid volunteers and one full time and 17 ‑ part time paid clinical and administration employees. Its charity shops in Pulborough and in Billingshurst each have one paid manager supported by a team of volunteers.
The Trust operates five days a week and offers its services directly to the general public from all walks of life, local groups, other charities and associations. We will continue to maximise our public benefit.
d. Relationships with other organisations
The Mary How Trust seeks to work in partnership with other organisations wherever such partnerships can enable new and/or additional services. We also work closely with local GP practices, and we work hard to develop community partnerships, working together to further create benefit to all. We are vigilant with campaigns and issues affecting our clients’ health and well-being, and encourage people to get involved.
We have a positive relationship with the Care Quality Commission, the wider community and services. We will continue to build strong and lasting relationships. This partnership approach enables us to progress and develop.
Achievements and performance
2020/2021 in Summary
Throughout 2020, the Coronavirus pandemic developed into a crisis that affected the lives and livelihoods of so many, and indeed continues into 2021. The resilience of all organisations has been tested. Despite the challenging circumstances, the strategies identified earlier have enabled The Mary How Trust to steer the charity through the uncertainties of the last 12 months. We remained committed to ensuring we were able to deliver our service in a COVID safe environment. Our staff were pivotal to the charity during the last year and they have continued to be committed, understanding our clients’ needs in these ever-changing circumstances.
Risk is a major agenda item discussed at all meetings. Our response to the pandemic has been proactive with regular, clear communications and guidance; this has needed a combination of pragmaticism, interpretation and sound decision making. With the combined efforts of all those involved we are proud of
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Trustees' report For the year ended 31 March 2021
what we achieved. We were relieved that there were no cases of internal transmission of the virus, and we had a 100% vaccination rate amongst staff.
We fell short of our target for screenings for the year due to the necessary and temporary closure of our services. In order to mitigate the financial impact on the Charity from the pandemic, a majority of staff were on and off furlough for periods during the year and the charity took advantage of the Government’s Coronavirus Job Retention Scheme.
The health and well-being of our clients, volunteers and our team were our top priority. The range of challenges during this period can never be underestimated. In line with government guidance, these included the postponing of our screening services and the closing of our charity shops, the standing down of our volunteers and the suspension of our fundraising events. Whilst we are optimistic in our recovery, the impact of Covid-19, related social distancing measures and the previous year’s results indicated the need for some restructuring to ensure a healthy future. This regrettably resulted in the closure of the fundraising and marketing department, and the decision to close our Billingshurst Charity shop and the resultant redundancies.
Amid all the uncertainly our staff worked flexibly, diligently and with great care to enable us, when government regulations permitted, to continue to provide our screening service and ensure our Charity Shop ran smoothly.
Volunteering, which had played a vital role within the Charity, almost ceased during a large period of the year in order to help protect our valued volunteers from any spread of COVID19. Our thanks go to all our volunteers who have continued to support us. Volunteers are pivotal to our mission, and as we get back to some sense of normality, we are welcoming them back. Their contribution remains priceless.
Financial Review
a. Going concern
The Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
b. Principal risks and uncertainties
Measures to mitigate any risks, due to COVID 19, started to formulate at the end of our last financial year, when the pandemic started to unfold. The board and CEO, under the guidance of our Financial Trustee, constantly evaluated its financial results and forecasts. This hands-on approach ensured we were able to reduce the possibility of severe financial risk. Throughout this period the Trust continued to be vigilant to the risks associated with not only the pandemic but changing legislation, CQC, Charity Commission, safeguarding and GDPR regulations.
c. Review 2020/2021
The COVID 19 Pandemic has had a damaging impact on many charities, many reporting various challenges including the increase in operating costs as a result of the implementation of pandemic precautions through to dealing with funding gaps and inability to run services. The Mary How Trust has seen similar challenges and thus some tough decisions had to be made.
Flexible and timely responses to these evolving challenges have enabled us to become financially agile. We will ensure we retain this flexibility and innovation for the future. Due to careful financial management and
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Trustees' report For the year ended 31 March 2021
with the aid of central government funding we close the year with a modest surplus, however we are aware of further ongoing challenges.
Despite the closures, reduction in screening donations and charity shop sales, the charity had an acceptable financial year, with the help of the CJRS and business grants, total funds were increased slightly to £553,215 (2020 £494,389). These results continue to ensure we are able to maintain the level of Reserves available for the Charity’s use.
The Trust’s policy is that the Charity holds Reserves equivalent to 6 months’ expenditure (with the impending move, Reserves are still expected to exceed £300,000 for the year 2021/2022). This judicious level of Reserves helps ensure the viable and dependable on-going delivery of the Trust’s charitable objectives. The reserves policy is reviewed half‑yearly by the Management Operations Committee, and annually at the Trustees’ Autumn meeting.
After allowing for the funds tied up in Fixed Assets, Intangible Assets and Restricted Funds, Free Assets equal £533,499 (£469,158 in 2020/19). Of this, £274,000 has been allocated to support the Development of the Trust in its move to The Colonnades, upgrading the Trust’s outdated IT systems and the acquisition of any essential new and replacement clinical equipment and to cover the Trust’s working capital needs.
Given that the Trust is seeking to double its screening numbers by 2023/24, it can be inferred that Reserves will need to be bolstered by a broadly similar percentage, to at least £500K, before the end of 2023/24. There will therefore be a need for the Trust to undertake new fundraising with the objective of raising at least £130K during 2021/22, and at least £120K in each of the following two years. This fundraising objective will enable The Trust to expand its services as planned and meet the growing demand from the community.
The Trust’s main investment of £408,024(2020 £387,321) is in M & G Investments Charibond. The Trustees monitor the appropriateness of holding this investment and despite the economic uncertainty posed by COVID 19 feel that, at present, this is still the most appropriate investment for us.
Revenue raising opportunities, including events which were postponed, were impacted and fundraising activities came to a halt. Temporary closure of our charity shops and temporary suspension of our screening services all had an impact. We saw a fall in standing order donations due to some of our clients reassessing their financial positions. At the same time the demand for our services increased, due to our clients having a heightened concern for their health.
During the year we continued to receive generous donations from our clients and from organisations and trust funds. We thank all our benefactors. Without their generosity, donations and continued support our services would not be viable. All donations have been spent carefully on keeping our screening services affordable to benefit all those in the community or, if restricted, the projects for which they were specified. We ensure our fundraising is done in compliance with the code of fundraising practice. Grants were gratefully received from both central and local governments in the form of the Job Retention Scheme, discretionary restart, and business support packages.
Despite the pandemic, our plans to move to new premises continued and during the year 2021/2022 will come to fruition, at which time both restricted and allocated funds will be used on this development.
During the year we were successful in an insurance claim to cover some of the donations lost due to the temporary suspension of our services.
We thank everyone for their continued support, inspiration, and encouragement.
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Trustees' report For the year ended 31 March 2021
Plans for future periods
With a new financial year approaching we still find ourselves in the clutch of the pandemic, a dynamic situation which continues to evolve. Nonetheless, we are committed to our plans for the future, to ensure the longevity of the Mary How Trust. We are working hard to improve our services and facilities and to ensure we are able to benefit the whole community. Our plan to move to larger premises is on the horizon. During the lockdowns we continued our search for new premises. Following negotiations on two premises a third contender emerged. With the combined efforts of all those involved this third property has come to reality. The Colonnades, on London Road, Pulborough is within close proximity of our current home. Following complete refurbishment to our clinical requirements the 2,495sq ft Colonnades premises will enable us to enhance our facilities and screening services, eradicate our waiting list, which has grown during COVID, and ensure we can give more people the chance to lead longer, healthier lives, whilst being able to offer further services to help empower our clients to improve their health outcomes.
This move will necessitate the recruitment of further clinical staff and a Practice Manager to ensure our ongoing success. To coincide with our move, our corporate identity will be refreshed, and we are working with a social media company, who offered pro bono services to help us in this project.
We foresee our fundraising events being curtailed until the latter part of 2021, or possibly early 2022. Under the guidance of our shop manager, we believe our Pulborough Charity Shop income will soon be restored to its pre COVID levels, donated goods having already increased. The level of one-off donations and those made via standing order will remain resilient and donor retention will continue to be paramount.
We are committed to ensuring the Mary How Trust remains in a positive position for the future and are determined to keep the screening services we offer in line with the requirements of a changing market.
Continuing with our developments, we will look at fundraising appeals and seek restricted funds to continue to improve our services and facilities. High on our agenda are the following projects:
-
To develop an outreach project for those in the community who are less likely to use preventative health services and have a high disease burden compared to the general population. This will play a critical role in improving and extending the reach of health care through health screening, education and facilitating access to other services. We will directly and indirectly improve health outcomes of individuals and communities.
-
Forming corporate partnerships with the business community. We envisage that building links by working in conjunction with corporate partners will not only raise awareness of our charity and ensure their employees continue to enjoy good health and well-being, but will also create invaluable CSR and PR opportunities for those companies involved.
Regulatory and governance matters are fundamental to the Trust, and we will continue to be strongly committed to ensure we give our clients a high level of screening services. Our Board of Trustees and the employee team will work diligently to maintain this commitment.
We start the year with renewed confidence. Undoubtedly there will be more challenges ahead, but we will embrace these in the knowledge that we are in a robust position and are ready to adapt and navigate what lies ahead.
Unsurprisingly, people’s health and well-being is high on the agenda. 2021/2022 will be a year of exciting prospects, enhancing our services, extending our reach and ensuring more people in our communities have the opportunity to access health screening for life.
7
The Mary How Trust For Cancer Prevention
(A company limited by guarantee)
Independent examiner's report
For the year ended 31 March 2021
Independent examiner's report to the Trustees of The Mary How Trust For Cancer Prevention ('the company')
I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 March 2021.
Responsibilities and basis of report
As the Trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report.
Signed:
Dated: 18/11/2021
Richard Spofforth, BSc (Hons) FCA
Kreston Reeves LLP Chartered Accountants Horsham
Page 9
The Mary How Trust For Cancer Prevention
(A company limited by guarantee)
Statement of financial activities (incorporating income and expenditure account) For the year ended 31 March 2021
| Note Income from: Donations and legacies 3 Other trading activities 4 Investments 5 Other income 6 Total income Expenditure on: Raising funds 7 Charitable activities Total expenditure Net gains on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2021 £ 364,756 47,900 9,835 25,000 447,491 114,283 281,366 395,649 474 52,316 490,136 52,316 542,452 |
Restricted funds 2021 £ 6,510 - - - 6,510 - - - - 6,510 4,253 6,510 10,763 |
Total funds 2021 £ 371,266 47,900 9,835 25,000 454,001 114,283 281,366 395,649 474 58,826 494,389 58,826 553,215 |
Total funds 2020 £ 311,987 153,855 8,852 - 474,694 153,627 319,493 473,120 (852) 722 493,667 722 494,389 |
|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 12 to 25 form part of these financial statements.
Page 10
15/11/2021
The Mary How Trust For Cancer Prevention
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
1. General information
The Mary How Trust for Cancer Prevention is a private limited company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member.
The registered address of the charitable company is Pulborough Primary Care Centre, Spiro Close, Pulborough, RH20 1FG.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Mary How Trust For Cancer Prevention meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the company, can be reliably measured.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Page 12
The Mary How Trust For Cancer Prevention
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
2. Accounting policies (continued)
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity.
Expenditure on raising funds includes all expenditure incurred by the company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.4 Government grants
Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities as the related expenditure is incurred.
2.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.6 Intangible assets and amortisation
Intangible assets costing £10,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.
The estimated useful lives are as follows:
Amortisation is provided on the following basis:
Website - % straight line over 5 years
Page 13
The Mary How Trust For Cancer Prevention
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
2. Accounting policies (continued)
2.7 Tangible fixed assets and depreciation
Tangible fixed assets costing £10,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following bases:
| Leasehold improvements | - over the term of the lease |
|---|---|
| Office equipment | - over 3 years |
| Medical equipment | - over 3 years |
2.8 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.
2.9 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.10 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.11 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
Page 14
The Mary How Trust For Cancer Prevention
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
2. Accounting policies (continued)
2.12 Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.13 Redundancy and termination payments
The company recognises termination benefits when they become committed, by legislation, by contractual or other agreements with employees or their representatives or by a constructive obligation based on business practice, custom or a desire to act equitably, to make payments (or provide benefits) to employees when it terminates their employment. Termination payments do not provide the company with future economic benefits and therefore they are recognised in the statement of financial activities immediately.
2.14 Pensions
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
2.15 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 15
The Mary How Trust For Cancer Prevention
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
3. Income from donations and legacies
| Donations Legacies Grants Government grants Gift aid Total 2020 |
Unrestricted funds 2021 £ 173,905 30,000 4,200 120,295 36,356 364,756 307,734 |
Restricted funds 2021 £ 6,510 - - - - 6,510 4,253 |
Total funds 2021 £ 180,415 30,000 4,200 120,295 36,356 371,266 311,987 |
Total funds 2020 £ 243,376 1,000 21,587 - 46,024 |
|---|---|---|---|---|
| 311,987 | ||||
During the year, government grants of £72,384 were received in relation to the Coronavirus Job Retention Scheme and £47,911 in relation to local authority grants.
4. Income from other trading activities
Income from fundraising events
| Shop Other Film club |
Unrestricted funds 2021 £ 45,660 2,215 25 47,900 |
Total funds 2021 £ 45,660 2,215 25 47,900 |
Total funds 2020 £ 129,458 17,915 6,482 |
|---|---|---|---|
| 153,855 |
All income from fundraising events in 2020 was unrestricted.
Page 16
The Mary How Trust For Cancer Prevention
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
5. Investment income
| Income from local listed investments Bank interest All investment income in 2020 was unrestricted. |
Unrestricted funds 2021 £ 9,574 261 9,835 |
Total funds 2021 £ 9,574 261 9,835 |
Total funds 2020 £ 8,551 301 |
|---|---|---|---|
| 8,852 | |||
6. Other incoming resources
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2021 | 2021 | 2020 | |
| £ | £ | £ | |
| Other incoming resources | 25,000 | 25,000 | - |
7. Expenditure on raising funds Costs of raising voluntary income
| Fundraising database Film club PPS & telephone Publicity Sundry Shop Salaries |
Unrestricted funds 2021 £ - 239 2,392 3,213 217 25,682 82,540 114,283 |
Total funds 2021 £ - 239 2,392 3,213 217 25,682 82,540 114,283 |
Total funds 2020 £ 8,719 2,834 2,613 8,952 237 26,295 103,977 |
|---|---|---|---|
| 153,627 |
All expenditure on raising funds in 2020 was from unrestricted funds.
Page 17
The Mary How Trust For Cancer Prevention
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
8. Analysis of expenditure by activities
| Health screening and advisory service Total 2020 |
Activities undertaken directly 2021 £ 259,336 313,390 |
Support costs 2021 £ 22,030 6,103 |
Total funds 2021 £ 281,366 319,493 |
Total funds 2020 £ 319,493 |
|---|---|---|---|---|
Analysis of direct costs
| Staff costs Depreciation Screening supplies Training fees Accomodation costs Insurance Cleaning and medical waste disposal Travelling expenses Repairs to equipment Printing, stationery, postage and telephone Sundry Screening Bank interest and charges Agency staff |
Health screening and advice 2021 £ 174,585 12,025 27,707 - 20,531 5,447 1,929 - 445 2,380 4,466 1,391 1,405 7,025 259,336 |
Total funds 2021 £ 174,585 12,025 27,707 - 20,531 5,447 1,929 - 445 2,380 4,466 1,391 1,405 7,025 259,336 |
Total funds 2020 £ 184,596 14,830 53,691 1,462 24,689 5,225 3,729 200 3,320 3,532 8,227 1,936 2,324 5,629 |
|---|---|---|---|
| 313,390 |
Expenditure relating to the restricted funds totalled £NIL (2020: £NIL) for the year.
Page 18
The Mary How Trust For Cancer Prevention
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
8. Analysis of expenditure by activities (continued)
Analysis of support costs
| Accountancy Independent examiner fee Legal and professional |
Health screening and advice 2021 £ 1,914 2,040 18,076 22,030 |
Total funds 2021 £ 1,914 2,040 18,076 22,030 |
Total funds 2020 £ 3,503 1,600 1,000 |
|---|---|---|---|
| 6,103 |
9. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £ 2,040 (2020 - £1,890) , and payroll services and VAT advice of £ 1,914 ( 2020 - £1,478 ).
10. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2021 £ 241,649 10,544 4,932 257,125 |
2020 £ 266,648 14,746 7,179 |
|---|---|---|
| 288,573 |
The total redundancy payments for the year were £16,175.
The average number of persons employed by the company during the year was as follows:
| 2021 | 2020 | |
|---|---|---|
| No. | No. | |
| Average number of employees | 20 | 22 |
No employee received remuneration amounting to more than £60,000 in either year.
Page 19
The Mary How Trust For Cancer Prevention (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
11. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2020 - £NIL) .
During the year ended 31 March 2021, no Trustee expenses have been incurred (2020 - £NIL) .
12. Intangible assets
| Cost At 1 April 2020 At 31 March 2021 Amortisation At 1 April 2020 Charge for the year At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020 |
Website £ 16,836 |
|---|---|
| 16,836 | |
| 16,274 562 |
|
| 16,836 | |
| - 562 |
Page 20
The Mary How Trust For Cancer Prevention
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
13. Tangible fixed assets
| Cost or valuation At 1 April 2020 At 31 March 2021 Depreciation At 1 April 2020 Charge for the year At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020 |
Long-term leasehold property £ 2,919 2,919 2,919 - 2,919 - - |
Office equipment £ 37,339 37,339 37,339 - 37,339 - - |
Medical equipment £ 77,806 77,806 57,390 11,463 68,853 8,953 20,416 |
Total £ 118,064 |
|---|---|---|---|---|
| 118,064 | ||||
| 97,648 11,463 |
||||
| 109,111 | ||||
| 8,953 20,416 |
14. Fixed asset investments
| Cost or valuation At 1 April 2020 Additions Disposals Revaluations At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020 |
Listed investments £ 387,321 60,000 (39,771) 474 |
|---|---|
| 408,024 408,024 |
|
| 387,321 |
Page 21
The Mary How Trust For Cancer Prevention
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
15. Debtors
| Due within one year Trade debtors Prepayments and accrued income |
2021 £ - 6,498 6,498 |
2020 £ 282 6,487 |
|---|---|---|
| 6,769 |
16. Creditors: Amounts falling due within one year
| Trade creditors Other taxation and social security Other creditors Accruals and deferred income |
2021 £ 6,913 - 1,486 2,040 10,439 |
2020 £ 4,375 5,055 1,463 1,600 |
|---|---|---|
| 12,493 |
Page 22
The Mary How Trust For Cancer Prevention
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
17. Statement of funds
Statement of funds - current year
| Unrestricted funds General Fund Restricted funds P Barder Appeal Billingshurt Lions Sussex Community Foundation Emma Lavender Fund Total of funds |
Balance at 1 April 2020 £ 490,136 4,253 - - - 4,253 494,389 |
Income £ 447,491 - 1,750 4,000 760 6,510 454,001 |
Expenditure £ (395,649) - - - - - (395,649) |
Gains/ (Losses) £ 474 - - - - - 474 |
Balance at 31 March 2021 £ 542,452 |
|---|---|---|---|---|---|
| 4,253 1,750 4,000 760 |
|||||
| 10,763 | |||||
| 553,215 |
Restricted Funds
P Barder Appeal
This fund is to be used for the purchase of equipment in the new premises.
Billingshurst Lions
This fund is to be used for the purchase of clinical equipment (ECG).
Sussex Community Foundation
This fund is to be used for the purchase of clinical equipment for the new premises.
Emma Lavender Fund
This fund is to be used for the purchase of clinical equipment.
Page 23
The Mary How Trust For Cancer Prevention
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
17. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds General Fund Restricted funds P Barder Appeal Total of funds |
Balance at 1 April 2019 £ 493,667 - 493,667 |
Income £ 470,441 4,253 474,694 |
Expenditure £ (473,120) - (473,120) |
Gains/ (Losses) £ (852) - (852) |
Balance at 31 March 2020 £ 490,136 |
|---|---|---|---|---|---|
| 4,253 | |||||
| 494,389 |
Page 24
The Mary How Trust For Cancer Prevention
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
18. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Total |
Unrestricted funds 2021 £ 8,953 408,024 135,914 (10,439) 542,452 |
Restricted funds 2021 £ - - 10,763 - 10,763 |
Total funds 2021 £ 8,953 408,024 146,677 (10,439) |
|---|---|---|---|
| 553,215 |
Analysis of net assets between funds - prior year
| Tangible fixed assets Intangible fixed assets Fixed asset investments Current assets Creditors due within one year Total |
Unrestricted funds 2020 £ 20,416 562 387,321 94,330 (12,493) 490,136 |
Restricted funds 2020 £ - - - 4,253 - 4,253 |
Total funds 2020 £ 20,416 562 387,321 98,583 (12,493) |
|---|---|---|---|
| 494,389 |
19. Pension commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund. Contributions of £1,486 (2020 - £1,463) were payable to the fund at the balance sheet date and are included in creditors.
20. Related party transactions
Mrs S Ross, the wife of Mr J Ross, a trustee and finance director, was employed as the Lead Shop manager and was paid £21,912 (2020: £24,864) in salary and pension.
There are no further related party transactions which require disclosure under FRS102 SORP 2019.
Page 25