OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2020-12-31-accounts

Charity Registration No. 1133272

ALLY CADENCE TRUST FOR SPINAL MUSCULAR ATROPHY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

ALLY CADENCE TRUST FOR SPINAL MUSCULAR ATROPHY

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs E Humphries Mr K Humphries Miss K Trafford Mrs L Atkinson Charity number 1133272 Principal address 107 Cleethorpe Road Grimsby North East Lincolnshire DN31 3ER Independent examiner A P Robinson & Co (Grimsby) LLP Chartered Accountants 107 Cleethorpes Road Grimsby North East Lincolnshire DN31 3ER

ALLY CADENCE TRUST FOR SPINAL MUSCULAR ATROPHY

CONTENTS

Page
Trustees report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance Sheet 5
Notes to the financial statements 6 - 10

ALLY CADENCE TRUST FOR SPINAL MUSCULAR ATROPHY

TRUSTEES REPORT

FOR THE YEAR ENDED 31 December 2020

The Trustees present their report and financial statements for the year ended 31 December 2020.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016).

Objectives and Activities

The Ally Cadence Trust for Spinal Muscular Atrophy is a non-profit making organisation run by our trustees and number of volunteers.

We offer both advice and practical support through the provision of specialist equipment to help the lives of those affected by Spinal Muscular Atrophy Type 1 and their families.

Our Trustees have personal experience of SMA Type 1 and we feel that this is very important when visiting newly diagnosed families. We work together to organise fundraisers and further spread awareness of Spinal Muscular Atrophy Type 1.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities they should undertake.

Achievements and Performance

This year has been extremely difficult due to the Coronavirus outbreak. We have not been able to make any family visits and the support we have given has had to be limited to online / phone support. We continued to support families to our best ability.

Fundraising has been extremely challenging. We have been unable to hold any of our regular fundraisers and have been very limited to what we can arrange online, and what others have been able to do for us.

Page 1

ALLY CADENCE TRUST FOR SPINAL MUSCULAR ATROPHY

TRUSTEES REPORT

FOR THE YEAR ENDED 31 December 2020

Financial review

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

During the year the charity had a surplus of £48,361 (2019 (deficit): £276). For the year ended 31st December 2020 the unrestricted reserves stood at £55,534 (2019: £7,173).

We end the year with the success of previous years behind us. Income for the year is broken down as follows:

The year has been extremely quiet compared to previous, but with good reason, whilst we would like to increase funds next year we wait to see what happens with the Covid Pandemic.

Structure, governance and management

The charity is an unincorporated company.

The Trustees who served during the year and up to the date of signature of the financial statements were:

Mrs E Humphries

Mr K Humphries Miss K Trafford Mrs L Atkinson

There are no policies adopted for the induction and training of trustees.

Overview

During 2020 we continued to work together, where possible, and fundraised where we were able, to continue supporting families.

We continue, as always, to raise our profile and awareness of Spinal Muscular Atrophy, with the help and support of our Trustees, Volunteers, Supporters and followers on all of our social media platforms. We hope to increase this further in the years to come.

The Trustees report was approved by the Board of Trustees.

Mrs E Humphries

Trustee Dated: 29th November 2021

Page 2

ALLY CADENCE TRUST FOR SPINAL MUSCULAR ATROPHY

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF ALLY CADENCE TRUST FOR SPINAL MUSCULAR ATROPHY

I report to the trustees on my examination of the financial statements of Ally Cadence Trust for Spinal Muscular Atrophy (the charity) for the year ended 31 December 2020.

Responsibilities and basis of report

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

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

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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 that in any material respect:

Andrew Robinson BCom (Hons), FCA

A P Robinson & Co (Grimsby) LLP Chartered Accountants 107 Cleethorpe Road Grimsby North East Lincolnshire DN31 3ER

Dated: 29th November 2021

Page 3

ALLY CADENCE TRUST FOR SPINAL MUSCULAR ATROPHY

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2020

----- Start of picture text -----
Unrestricted Total
funds
2020 2019
Notes £ £
Income from:
Donations and legacies 3 64,091 24,334
Total income 64,091 24,334
Expenditure on:
Raising funds 4 2,807 7,322
Charitable activities 5 12,923 17,287
Total resources expended 15,730 24,609
Net income/(expenditure) for the year/
Net movement in funds 48,361 ( 276)
Fund balances at 1 January 2020 7,173 7,449
Fund balances at 31 December 2020 55,534 7,173
----- End of picture text -----

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

Page 4

ALLY CADENCE TRUST FOR SPINAL MUSCULAR ATROPHY

BALANCE SHEET

AS AT 31 DECEMBER 2020

----- Start of picture text -----
2020 2019
Notes £ £ £ £
Fixed assets
Tangible assets 8 1,718 2,148
Current assets
Debtors 9 271 295
Cash at bank and in hand 53,546 4,731
53,816 5,025
Net current assets 53,816 5,025
Total assets less current liabilities 55,534 7,173
Income funds
Unrestricted funds
-
Designated funds 46,210
General unrestricted funds 9,325 7,173
55,534 7,173
----- End of picture text -----

The financial statements were approved by the Trustees on 29th November 2021.

Mrs E Humphries Trustee

Page 5

ALLY CADENCE TRUST FOR SPINAL MUSCULAR ATROPHY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

Charity information

Ally Cadence Trust for Spinal Muscular Atrophy is a registered charity incorporated in England and Wales. The charity number is 1133272.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

Page 6

ALLY CADENCE TRUST FOR SPINAL MUSCULAR ATROPHY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies (Continued)

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

1.5 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Motor vehicles - 20% reducing balance.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.6 Impairment of fixed assets

At each reporting end date, the reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ).

Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually, and whenever there is an indication that the asset may be impaired.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Page 7

ALLY CADENCE TRUST FOR SPINAL MUSCULAR ATROPHY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

(Continued)

Financial instruments

1.8 Financial instruments The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2 Critical accounting estimate and judgements

Page 8

ALLY CADENCE TRUST FOR SPINAL MUSCULAR ATROPHY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

----- Start of picture text -----
3 Donations and legacies
Unrestricted Total
funds
2020 2019
£ £
Donations and gifts 64,091 24,334
4 Raising funds
Unrestricted Total
funds
2020 2019
Fundraising and publicity
Staging fundraising events 2,807 7,322
2,807 7,322
5 Charitable activities
2020 2019
£ £
Depreciation and impairment 430 437
Donations and support given to families 604 2,425
Insurance 1,431 1,463
Telephone 296 667
Computer software and maintenance costs 1,008 601
Printing, postage and stationery 799 665
Sundry 7 161
Motor expenses 7,081 7,847
Bank charges 75 177
Accountancy 840 790
Legal & professional costs 352 2,055
12,923 17,287
12,923 17,287
Analysis by fund
Unrestricted funds 12,923 17,287
12,923 17,287
----- End of picture text -----

6 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

7 Employees

There were no employees during the year.

Page 9

ALLY CADENCE TRUST FOR SPINAL MUSCULAR ATROPHY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

8 Tangible fixed assets

9

Cost
At 1 January 2020
At 31 December 2020
Depreciation and impairment
At 1 January 2020
Depreciation charged in the year
At 31 December 2020
Carrying amount
31 December 2019
31 December 2020
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors		 Motor vehicles - 20% reducing
balance
£
4,400
4,400
2,252
430
2,682
2,148
1,718
2020
2019
£
£
90
114
181
181
271
295

10 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Movement in funds Movement in funds
Balance at Incoming Resources Balance at
1 January 2020 resources expended 31 December 2020
Hanna Laczkowska - 46,210 - 46,210

Related party transactions

During the year £1,104 (2019: £1,586) was charged by Blue Glow Web Limited (a company owned by Mr K Humphries who is a trustee of the charity) for professional fees/telephone costs.

11

Page 10

Virtual Cabinet Portal Digital Signatures

Digital Signature Verification

You can verify that this is a genuine Virtual Cabinet Document Portal signed document by uploading it to the following secure web page:

https://www.virtualcabinetportal.com/VerifySignedDocument

Signature Dates and Times

All dates and times shown in the signatures below are expressed in Coordinated Universal Time (UTC), which is generally equivalent to GMT. You can find out more about UTC at the following web page:

http://www.virtualcabinetportal.com/WhatIsUTC

Signature 1

Signed by Emma Humphries using authentication code amoodE8zNUpMWmlU at IP address 213.1.23.6, on 2021/12/14 15:39:24 Z.

Emma Humphries's e-mail address is: emma@actsma.co.uk.