REGISTERED COMPANY NUMBER: 07762229 (England and Wales) REGISTERED CHARITY NUMBER: 1145312
Molly Olly’s Wishes
Report of the Trustees
and
Unaudited Financial Statements for the Year Ended 30 September 2022
Mollys Olly’s Wishes
Contents of the Financial Statements for the Year Ended 30 September 2022
| Page | |
|---|---|
| Report of the Trustees | 1 to 10 |
| Independent Examiner's Report | 11 |
| Statement of Financial Activities | 12 |
| Balance Sheet | 13 |
| Notes to the Financial Statements | 14 to 21 |
| Detailed Statement of Financial Activities | 22 |
Molly Olly’s Wishes
Report of the Trustees for the Year Ended 30 September 2022
Letter from the Chair of the Board of Trustees of Molly Olly’s Wishes
I am delighted to present our report for Molly Olly’s Wishes, together with our financial statements, for the year ended 30 September 2022.
This has been an extraordinary year following a couple of tough years when many of our fund-raising activities were curtailed due to the impact of the Covid pandemic. Since the Charity was formed in 2011, we have now raised nearly £3.5m directly and indirectly benefitting over 16,000 children with life-threatening illnesses. We have also distributed over 13,000 of our Olly the Brave therapeutic lions and his storybooks to more than 70 hospitals across the United Kingdom.
Over the past year we raised just under £500,000 and provided over 450 wishes requests. This level of fundraising is a great outcome particularly against the background of the cost of living crisis that we all face at the present time. I would like to convey our huge gratitude to all our longstanding individual and corporate sponsors without whom we could not deliver valuable and life changing support for our beneficiaries. I would also like to welcome and thank all our new supporters.
We have strengthened our team with the addition of two new staff members along with some new volunteers who are giving their time to carry out valuable work on our behalf. The Board of Trustees would like to thank the whole team for their dedication, hard work and continued commitment to the Charity. Our work is critically important for many families who do not have access to emotional support and resources to help them navigate the new and uncertain world they face when their child receives a diagnosis of cancer or another life-threatening illness or condition. Molly Olly’s Wishes was founded in recognition of this, with a desire to help these children and their families, and to make the dark days brighter.
I am also pleased with the fundraising activities carried out this year. Every event or activity undertaken by our supporters is extremely valuable to us, however big or small. We are delighted that our annual golf day was so successful again, and also the wonderful bike ride from York to Warwick where we had nearly 50 individuals riding to help us raise net funds of £78,070. We look forward to another similar event in 2023, and are very pleased about the return of our flagship annual ball in November 2022.
Looking ahead to 2023, we are hoping to undertake another major project to help and support children both in hospitals and in our communities.
This year we celebrated the 10th anniversary of the Charity which was an important milestone. We continue to see increased demand for wishes and other support and growth in the number of supporters remains hugely important for us and the people that we support. I am confident that with their support and the commitment our team, we can look forward to delivering valuable services to our communities over the next 10 years.
Thank you to everyone who has and is helping us achieve this.
…………………………………….
G Hayre, Chair of Board of Trustees 27 April 2023
Page 1
Molly’s Story
Molly always had a smile that warmed your soul, you couldn’t help but smile back. She was a little bit mad in a funny way, had a great sense of humour. She was bright, kind and empathetic and loved music, books and fashion.
In 2006 at the age of 3 years, Molly was diagnosed with a rare type of kidney cancer called a Wilms’ Tumour. Up until two days before her diagnosis she had shown no obvious signs of illness. She was your usual cheeky 3 year old who raced around playing with her siblings, Ben and Maeve.
Hearing the news that your child has cancer is shocking in the true sense of the word. It is immense and overpowering. We often listen to stories that tell of personal struggles and heart-breaking events, but we never believe it will happen to us and you can never realise the enormity and impact of such a diagnosis and the long lasting effects. The world that you had known changes forever.
Molly was treated by the fantastic team at Birmingham Children’s Hospital. She had been diagnosed at an early stage and we were hopeful that after the first round of chemotherapy and an operation to remove her kidney that she would be clear of cancer. Sadly, this was not the case and Molly spent the best part of 5 years in and out of hospital. She had many operations, chemotherapy, radiotherapy, blood transfusions…….the list seems endless. The impact that it had on Molly and all the family is hard to convey. Activities are limited, the family is often divided, everything has to be planned around hospital visits.
At the point when Molly first relapsed, she struggled emotionally at the thought of having to go through treatment for a second time. It was a particularly tough period, we had to work closely with a play specialist to help Molly find a way to cope with the emotional aspects. The feelings of frustration of thinking that she had got through treatment and the hope that she would be ok after the first round, having to steal herself to go again. However, even at the age of 6, Molly grew up beyond her years and faced her illness head on.
During the 5 years that she was unwell Molly carried on as much as she could with “normal life” - she went to school as much as she could and joined in activities as much as possible. She always pushed herself to remain as active as possible despite feeling weak and unwell. She developed her own strategies for coping. She got involved with the CLIC Sargent Youth Advisory Group (now Young Lives v Cancer) and also narrated a short film animated by Aardmann Studios called “One of A Kind” – A Guide to Radiotherapy for Kids.
Molly relapsed three times and in March 2011 we sat down with Molly who was then 8 years old and told her that sadly there was no more treatment available. Despite her tender years Molly completely understood that her time was limited. She made the decision that she wanted to spend the rest of her time at home, she had had enough of the constant back and forth to hospital. She spent her last months doing what she chose, saying her goodbyes to her friends and family in her own way. Molly died at home in our arms in June 2011.
Molly had an amazing spirit and incredible determination through it all. The impact that she made in her 8 years was more than some make in 80 years. To witness how she touched the lives of so many people is astounding. Molly was very much aware how lucky she was and tried to make a difference to children in similar situations who were less fortunate.
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Molly’s experience and ours supporting her on that journey showed us how lucky we were to be well supported by friends and family in the darkest of days. However, having spent the best part of 5 years in hospital we soon realised that many people were struggling both emotionally and financially when supporting a child with a serious life-threatening condition. Knowing that there is someone there who can help and who understands can make a big difference. So, our desire to help other children like Molly began and the essence of the Charity is to make the dark days brighter for children and their families facing extremely challenging circumstances.
Our Aim and Values
Our aim, as set out in our governing document, is to provide emotional and financial support (where appropriate), and to enhance the lives of children suffering with terminal or life-threatening illnesses across the UK. We also seek to advise and assist the families of children in these circumstances.
We aim to achieve these objectives by focussing on fundraising activities organised by ourselves or our supporters, larger events such as an Annual Ball or through corporate fundraising activities. The Trustees consider the Charity Commission guidance on public benefit when developing their activities.
Funds raised are used to support children and their families who need additional help beyond that given by the NHS and its supporting bodies. This help may be in the form of specialist equipment, days out, toys or experiences that families otherwise would not be able to afford or that can help support emotional wellbeing through challenging circumstances. The Charity also provides a therapeutic toy lion, "Olly The Brave" and acCompanying books, that inform difficult conversations and help children and families to better understand and accept the situation they are dealing with. We work closely with NHS personnel in everything we do, to ensure that our help is appropriate to the needs of the child. Funds are also used to support bespoke projects in conjunction with the NHS, and to provide wider advice and assistance within our remit.
Our aim is to always be professional and personal, and never to forget that those we help are going through extremely challenging times. We always strive to be empathetic and compassionate. We place a high value on the speed and flexibility of our service, recognising that families may have limited time because of hospital and treatment pressures and even, in the worst cases, because the child is approaching the end of their life.
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Report from Co-founder and Chief Executive, Rachel Ollerenshaw
Our Impact
Our 10[th] Anniversary year has been another very successful year for Molly Olly’s Wishes and I’m very pleased that we have been able to celebrate ten years of helping children with life-threatening illnesses and their families across the UK. If you haven’t personally experienced this situation, it is impossible to imagine it and to know how you would react, yet an amazing group of people continue to support us whether by donating, fundraising or volunteering, despite coping with the pandemic and other challenges of life. I’m hugely grateful to everyone and delighted to set out our impact and achievements in this special year.
Celebrating 10 years helping children with life-threatening illnesses
Our Services
During 2021/22 we received 459 applications for wishes to individual children – this is a 13% increase on the 2020/21 figure, which itself was an increase on the previous year, reflecting a growing demand for our services. Wish requests have continued to include toys and entertainment items, but we have seen an increase in requests for support for specialised equipment, household necessities, support with travel to hospitals and improvements to bedrooms. The wishes we provide have an average cost of £500.
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Our impact in 2021/22
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Working with South Warwickshire Nursing Team we have also been able to provide wider support to our wish families such as toys at Christmas and Easter Eggs donated by our supporters, and have held a special event for families who lost a child during COVID. “Remember Me” was held at Coombe Abbey and was an afternoon where families could come together to remember and celebrate their children’s lives. It gave them the opportunity to share with each other. The day was deemed to be a success and we plan to run a similar event in 2023.
“Evie had a wonderful day on the Norfolk Broads yesterday, thanks to Molly Ollys. She forgot all her woes and we had lots of laughs and made lots of special family memories. The Broads Tours staff were lovely and the food from Number 14 cafe superb. Huge thanks.”
Olly The Brave continues to be a valuable resource, especially for health professionals working with seriously unwell children. This year alone, we have also distributed over 4,000 Olly The Brave lions and books to hospitals, community nursing teams and to individual children. I am very proud that Olly The Brave is being used in over 70 hospitals and community nursing teams across the UK.
“Olly has had more oxygen than Cohen these last ten days. We have to put the mask around Olly to keep him near Cohen’s face. I can’t tell you how much of a hero Olly has been for Cohen. They go everywhere together and Cohen tells everyone that he has wiggles just like him.”
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Our Fundraising
We are delighted to have been able to hold some fundraising events this year in person, after the challenges of the last two years, in particular to mark the Charity’s 10[th] anniversary. Our annual Golf Day in June was very successful raising almost £30,000 and as part of our 10[th] anniversary celebrations, we held a fundraising cycle ride from York to Warwick in July. York was chosen as the starting point as it holds fond memories for the Ollerenshaw family of time spent there prior to Molly’s death. 47 cyclists undertook the 3 day event, which was marked by fantastic positivity and comradeship, despite the distances and inclines, and together they raised a massive £78,070. All of the Molly Olly Team were very impressed and grateful for their endeavours.
Other notable fundraising successes include Warwick Race Course kindly selecting us as their Charity for a Race Day in April, Morrisons Leamington Spa raising funds through a Pedalo challenge on the Grand Union Canal and fundraising at the store, Oakland International’s impressive, ongoing fundraising amongst their staff, and Olton and West Warwickshire Hockey Club’s Ball in September. Thank you to other companies and organisations such as The Rigby Foundation and SCC for their ongoing support. We have an incredible group of supporters, both organisations and individuals, who have found imaginative ways of raising funds for us. These include:
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A 72 year-old grandfather from Coventry set himself the challenge of walking 10 miles every day of 2022 to raise funds for Molly Ollys. By the end of September 2022, he had already beaten his 3,600 mile target for the whole year and raised nearly £10,000, but he didn’t rest on his laurels and continued walking to the end of 2022.
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Two members from Leamington Spa Golf Club played 36 holes of golf over 35 courses in Warwickshire and the West Midlands raising over £12,000.
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‘James big golf day’ held by a family whose son has a brain tumour and who we have helped which raised over £8,000.
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Two teenagers from Cornwall raised over £10,000 on behalf of their friend with cancer.
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The Baker family who raised over £22,000 with a variety of fundraising initiatives.
There are many reasons why people and organisations choose to support us, including a number where we have helped a child in their family or amongst their friends. We are hugely grateful to them all, especially those who in the midst of their own challenges and distressing situations can find it in themselves to help others in similar circumstances.
We have also been fortunate to receive grants from a number of charitable foundations including The Openwork Foundation, Warwick District Council, Dignity Covid Trust Fund, Leamington Round Table, O’Brien Charitable Trust, Masonic Charitable Foundation and Warwickshire Masonic Charitable Association, The Ratcliff Foundation, The Rotary Club of Birmingham Endowment Trust, F C Stokes Charitable Trust. We thank them all.
The range of products in which we invested in 2020/21 proved successful and in 2021/22 we supplemented this with a branded, bespoke, artisan gin, produced for us by Shakespeare Distillery. This has provided a very effective additional strand to our fundraising products which we will continue with. All our products are available through our online shop.
Our Relationships
Relationships with health professionals are crucial to how we work, and we have invested time in maintaining and developing these. We work regularly with South Warwickshire Nursing Team, and with Birmingham Children's Hospital, and are honoured to be able to help them in their vital work. We have a number of discussions underway about other ways in which we can help in the future and I am excited about the prospects. Following the successful funding of the first consultant in Paediatric Palliative Medicine for Birmingham and the significant positive impact this has created, the Charity is looking to continue working with the team at Birmingham Children’s Hospital to further increase this service to benefit a wider group of children.
We also have key relationships with a number of corporate organisations, who are extremely important to our work, providing support such as awareness raising through branded vehicles, specific donations towards wishes and to help us run our office, storage and distribution facilities, and general fundraising. We place great value on these relationships and are committed to maintaining and developing them.
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Our Team
Molly Ollys success would not be possible without the support of a very committed team of staff and volunteers. Their hard work, professionalism and compassion is crucial to delivering our services effectively, always with care and compassion. They are incredibly dedicated. We are hugely grateful to all the Team and Trustees for helping Molly Olly’s achieve so much over the past ten years for so many children, in Molly’s memory.
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Financial Review
Highlights
The Trustees are very pleased with the financial performance of the Charity in 2021/22. Despite the difficult circumstances caused by the pandemic over the last two years, the Charity’s income has significantly increased compared with 2020/21. Fundraising activities run by Molly Ollys have been very successful, both in terms of funds raised and the positive engagement and awareness they have generated. It is also pleasing to see the wide range of individuals and organisations giving support, including raising significant funds for the Charity through their own activities. The end of year position provides a sound basis for 2022/23, which will also have the advantage of the return of the Charity’s Annual Ball in November 2022, one of our major fundraising events.
These funds are very much needed as we have spent more money this year on supporting children with life-threatening illnesses and their families compared with 2020/21, reflecting a significant increase in the number of wishes requested. The Charity’s running costs have increased compared with 2020/21 reflecting an additional part-time member of staff. The Charity is very fortunate to have a small core of volunteers who have been working consistently throughout the last few years, making a significant contribution to the day-to-day running of the Charity and helping to keep our costs to a minimum.
As a result of hard work raising funds and keeping costs low, the Charity has managed to deliver a positive net financial outcome for the year whilst increasing the money spent on helping seriously ill children.
Reserves Policy
The Trustees reconsider the Charity’s reserve policy during each financial year and for 2021/22, the Trustees set the Charity’s reserve level at £160,000, approximately equivalent to 4 months of operational and wish-delivering costs, with quarterly monitoring in the face of the changing external situation.
The Trustees have decided to maintain a reserves policy for 2022/23 at a similar level, in order to be confident that the Charity can operate for a minimum of 6 months. However, recognising that income is more likely to reduce gradually than to suddenly stop and that much of our expenditure can be scaled in response, Trustees have chosen to set the reserve level for 2022/23 at £160,000.
As at 30 September 2022, the Charity’s reserves amounted to £342,794. The Trustees have chosen to build up reserves over recent years to enable the funding of new larger one-off initiatives to support seriously unwell children and their families, after completion of the funding for the Birmingham Children’s Hospital Paediatric Palliative Consultant. Advanced discussions are underway on a new project with Birmingham Children’s Hospital to support the continued development of Paediatric Palliative Care provision in the West Midlands and Warwickshire, which Trustees expect to conclude and implement in 2022/23. This project is expected to require funding of approximately £300,000.
Available reserves, in excess of the reserve level for 2022/23 of £160,000, will be allocated to these items, and to other opportunities to support children with life-threatening illnesses and their families.
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Future Plans
The Charity has been working hard to continue its fundraising following the financial year end, with the Annual Ball being reintroduced in November 2022 and planning underway for a cycle ride in July 2023, following the success of the July 2022 ride. The Trustees remain committed to our fundraising programme in order to help as many children with life-threatening illnesses as possible, bearing in mind that 12 children in the UK a day are diagnosed with cancer and more with other, rare and serious conditions. The Trustees are satisfied that the Charity has sufficient funds to meet its commitments, and are considering options for future bespoke projects, including being at an advanced stage in discussions on a new project with Birmingham Children’s Hospital.
The Trustees have made the decision to increase staffing for 2022/23 to meet the increase in demand for the Charity’s services, which will result in an increase in operational costs.
The Charity's specific objectives for 2022/23 are:
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To continue to fulfil the wish requests of children with life-threatening illnesses; in the short-term we expect to support a similar number of children to 2022/23, but in the medium to longer term, we hope to increase this at a steady rate to provide our service to more children and families.
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To continue to donate Olly The Brave and his books to hospitals and community nursing teams, and to seriously unwell children as required, and to expand our contacts with health professionals so that as many children as possible can benefit from our therapeutic aids.
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To make available our planned Olly with a port (rather than Hickman Lines) to support children with different needs.
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In consultation with health professionals to continue to investigate options for new Olly The Brave items to support a wider range of children.
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To implement the planned project with Birmingham Children’s Hospital to contribute to the much-needed development and expansion of Paediatric Palliative Care provision in the UK. This is an under-funded area with considerable pressure on resources, despite providing a service which is immeasurable in its value to children and families facing this situation.
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To continue to research and identify other bespoke projects where the Charity can provide support.
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To continue to raise awareness of the Charity both to gain additional financial support, especially from corporate supporters, and to enable our services to reach a wider audience across the UK.
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To continue to develop our branded product sales offering as part of our fundraising programme, with carefully selected products being sold at charitable events and online through a new modernised website.
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To increase the number of employees (as appropriate/necessary) and volunteers in order to respond to the growing demand for our services.
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Structure, Governance and Management
Governing document
The Charity is constituted under its Memorandum and Articles of Association dated 5 September 2011 and is a registered Charity and Company limited by guarantee registered in England and Wales. Its charitable objects are set out under Our Aims and Values.
The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). 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 Directors' Report) Regulations 2013 is not required.
Method of appointment or election of Trustees
The Trustees are appointed in accordance with the Articles of Association by ordinary resolution of the members or by the directors. A director appointed by a resolution of directors must retire at the next annual general meeting but may stand for reappointment. All the Trustees serve in a voluntary capacity and do not receive remuneration except as disclosed in Note 6.
A minimum of three Trustees is required and one third of the directors retire by rotation at each annual general meeting but may stand for re-appointment. The Trustees serving during the period are shown below.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
07762229 (England and Wales)
Registered Charity number
1145312
Registered office
1 Swan Street Warwick Warwickshire CV34 4BJ
Trustees
J S R Bew M J Callender G Hayre (Chair) T J K Lee (resigned 5.12.22) Mrs R S Ollerenshaw Mrs A J Silcock (appointed 21.3.23)
Company Secretary
K M Walsh
Independent Examiner
MHA MacIntyre Hudson Rutland House 148 Edmund Street Birmingham West Midlands B3 2FD
Approved by order of the Board of Trustees on 27 April 2023 and signed on its behalf by:
.......................................................................... G Hayre – Chair of Board of Trustees
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Independent Examiner's Report to the Trustees of Molly Olly's Wishes
Independent examiner's report to the Trustees of Molly Olly's Wishes ('the Company')
I report to the Charity Trustees on my examination of the accounts of the Company for the year ended 30 September 2022.
Responsibilities and basis of report
As the Charity's Trustees of the Company (and also its directors for the purposes of Company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the 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 your Charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your Charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants of 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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Helen Blundell LLB FCA FCIE DChA Institute of Chartered Accountants of England and Wales MHA MacIntyre Hudson Rutland House 148 Edmund Street Birmingham West Midlands B3 2FD
Date: 28 April 2023
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Molly Olly's Wishes
Statement of Financial Activities
for the Year Ended 30 September 2022
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Charitable activities Donations 4 383,139 Charity Balls - Cycle Ride 91,572 Investment income 3 382 Total 475,093 EXPENDITURE ON Raising funds 5 222,424 Charitable activities 6 Donations 182,207 Total 404,631 NET INCOME 70,462 RECONCILIATION OF FUNDS Total funds brought forward 263,332 TOTAL FUNDS CARRIED FORWARD 333,794 |
Restricted funds £ 9,000 - 4,000 - 13,000 4,000 - 4,000 9,000 - 9,000 |
30.9.22 Total funds £ 392,139 - 95,572 382 488,093 226,424 182,207 408,631 79,462 263,332 342,794 |
30.9.21 Total funds £ 366,941 24,869 - 14 391,824 121,789 201,531 323,320 68,504 194,828 263,332 |
|---|---|---|---|
The notes form part of these financial statements
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Molly Olly's Wishes
Balance Sheet
| 30 September 2022 Unrestricted funds Notes £ FIXED ASSETS Tangible assets 12 16,823 CURRENT ASSETS Stocks 13 45,352 Debtors 14 8,657 Cash at bank 307,246 361,255 CREDITORS Amounts falling due within one year 15 (44,284) NET CURRENT ASSETS 316,971 TOTAL ASSETS LESS CURRENT LIABILITIES 333,794 NET ASSETS 333,794 FUNDS 17 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ - - - 9,000 9,000 - 9,000 9,000 9,000 |
30.9.22 Total funds £ 16,823 45,352 8,657 316,246 370,255 (44,284) 325,971 342,794 342,794 333,794 9,000 342,794 |
30.9.21 Total funds £ 19,135 42,788 2,539 202,444 247,771 (3,574) 244,197 263,332 263,332 263,332 - 263,332 |
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The Charitable Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.
The members have not required the Company to obtain an audit of its financial statements for the year ended 30 September 2022 in accordance with Section 476 of the Companies Act 2006.
The Trustees acknowledge their responsibilities for:
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(a) ensuring that the charitable Company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the Charitable Company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Charitable Company.
These financial statements have been prepared in accordance with the provisions applicable to Charitable Companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 27 April 2023 and were signed on its behalf by:
.......................................
G Hayre – Chair of Trustees
The notes form part of these financial statements
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Molly Olly's Wishes
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Notes to the Financial Statements for the Year Ended 30 September 2022
1. GENERAL INFORMATION
Molly Olly's Wishes is a Charitable Company limited by guarantee, registered in England and Wales, and operates from its registered office as shown on page 10. Its principal activities are to support children and their families where the children are suffering from terminal and life-threatening illnesses.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the Charitable Company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Molly Olly's Wishes meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
Company status
The Company is a Company limited by guarantee. The members of the Company are the Trustees named on page 3. In the event of the Company being wound up, the liability in respect of the guarantee is limited to £1 per member of the Company.
Income
All income is recognised in the Statement of Financial Activities once the Charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year-end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Short leasehold | - 10% on cost |
|---|---|
| Fixtures and fittings | - 25% on cost |
Stocks
Stock represents items purchased and held for distribution as "wishes" and/or re-sale. Stock is shown at the lower of cost and net realisable value (which in the case of "wishes" is the estimate of re-sale value).
Taxation
The Charity is exempt from corporation tax on its charitable activities.
The notes form part of these financial statements
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Molly Olly's Wishes
Notes to the Financial Statements - continued for the Year Ended 30 September 2022
2. ACCOUNTING POLICIES - continued
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the Charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The Charitable Company operates a defined contribution pension scheme. Contributions payable to the charitable Company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Debtors
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.
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.
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.
Operating Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership of the leased asset to the group. All other leases are classified as operating leases.
Rentals payable under operating leases are charged to Statement of Financial Activities on a straight-line basis over the lease term, unless the rental payments are structured to increase in line with expected general inflation, in which case the group recognises annual rent expense equal to amounts owed to the lessor.
The aggregate benefit of lease incentives are recognised as a reduction to the expense recognised over the lease term
on a straight line basis.
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.
3. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 30.9.22 | 30.9.21 | |
| £ | £ | |
| Interest received | 382 | 14 |
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continued…
4. INCOME FROM CHARITABLE ACTIVITIES
| Charitable donations and legacies comprises: Donations Grants Legacies 5. RAISING FUNDS Raising donations and legacies Trustees' remuneration etc Charity Ball Cycle Ride Promotional costs Depreciation Loss on sale of assets Support costs 6. GRANTS Grants to individuals ("wishes") |
30.9.22 £ 347,139 45,000 - 392,139 30.9.22 £ 43,857 - 16,502 157,384 5,145 131 3,405 226,424 30.09.22 £ 182,207 182,207 |
30.9.21 £ 253,966 102,975 10,000 366,941 30.9.21 £ 41,450 10,664 - 60,729 5,508 (300) 3,738 121,789 30.09.21 £ 201,531 201,531 |
|---|---|---|
Included in the 2018 accounts was a Grant of £429,000 payable to the Birmingham Women and Children's NHS Foundation Trust over a period of three years. This was to be funded from future income streams and was fully paid during 2021.
7. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 30.9.22 | 30.9.21 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 5,145 | 5,507 |
| Surplus/(deficit) on disposal of fixed assets | 131 | (300) |
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Molly Olly's Wishes
Notes to the Financial Statements - continued
for the Year Ended 30 September 2022
8. TRUSTEES' REMUNERATION AND BENEFITS
| TRUSTEES' REMUNERATION AND BENEFITS | ||
|---|---|---|
| 30.9.22 | 30.9.21 | |
| £ | £ | |
| Trustees' salaries | 39,675 | 37,900 |
| Trustees' social security | 3,179 | 2,600 |
| Trustees' pensions paid | 1,003 | 950 |
| 43,857 | 41,450 |
Trustees' remuneration was paid to Mrs R S Ollerenshaw in respect of her services as an employee of the Charity and as authorised by the Articles of Association. No other Trustees or key management personnel received any remuneration.
Key management personnel are the Company's Trustees.
The total employment benefits including employer pension contributions of the key management personnel were £40,678 (2021: £38,850).
Trustees' expenses
During the year no Trustees received any reimbursement of expenses (2021: £ Nil).
9. STAFF COSTS
| Salaries and wages Social security costs Pension costs The average monthly number of employees during the year was as follows: Trustee Employee |
30.9.22 £ 141,588 9,282 2,870 153,740 30.9.22 1 3 4 |
30.9.21 £ 103,300 5,200 2,538 |
|---|---|---|
| 111,038 | ||
| 30.9.21 1 1 2 |
The average monthly number of employees during the year was as follows:
No employees received emoluments in excess of £60,000 in this year or the preceding year.
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Molly Olly's Wishes
Notes to the Financial Statements - continued for the Year Ended 30 September 2022
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds £ INCOME AND ENDOWMENTS FROM Charitable activities Donations 361,941 Charity Ball 24,869 Investment income 14 Total 386,824 EXPENDITURE ON Raising funds 121,789 Charitable activities Donations 196,531 Total 318,320 NET INCOME 68,504 RECONCILIATION OF FUNDS Total funds brought forward 194,828 TOTAL FUNDS CARRIED FORWARD 263,332 |
Restricted funds £ 5,000 - - 5,000 - 5,000 5,000 - - - |
Total funds £ 366,941 24,869 14 391,824 121,789 201,531 323,320 68,504 194,828 263,332 |
|---|---|---|
11. INDEPENDENT EXAMINER'S FEES
The independent examiner's fee amounts to a fee for the examination of £3,405 (2021: £3,738). These are included in accountancy and legal fees.
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Molly Olly's Wishes
Notes to the Financial Statements - continued for the Year Ended 30 September 2022
12. TANGIBLE FIXED ASSETS
| 12. | TANGIBLE FIXED ASSETS | ||||
|---|---|---|---|---|---|
| Fixtures | |||||
| Short | and | ||||
| leasehold | fittings | Totals | |||
| £ | £ | £ | |||
| COST | |||||
| At 1 October 2021 | 7,224 | 25,260 | 32,484 | ||
| Additions | - | 2,964 | 2,964 | ||
| Disposals | - | (2,299) | (2,299) | ||
| At 30 September 2022 | 7,224 | 25,925 | 33,149 | ||
| DEPRECIATION | |||||
| At 1 October 2021 | 722 | 12,627 | 13,349 | ||
| Charge for year | 723 | 4,422 | 5,145 | ||
| Eliminated on disposal | - | (2,168) | (2,168) | ||
| At 30 September 2022 | 1,445 | 14,881 | 16,326 | ||
| NET BOOK VALUE | |||||
| At 30 September 2022 | 5,779 | 11,044 | 16,823 | ||
| At 30 September 2021 | 6,502 | 12,633 | 19,135 | ||
| 13. | STOCKS | ||||
| 30.9.22 | 30.9.21 | ||||
| £ | £ | ||||
| Finished goods | 45,352 | 42,788 | |||
| 14. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 30.9.22 | 30.9.21 | ||||
| £ | £ | ||||
| Trade debtors | 1,200 | - | |||
| Other debtors | 4,683 | 1,654 | |||
| Deferred expenditure | 863 | - | |||
| Tax | 324 | 324 | |||
| Prepayments | 1,587 | 561 | |||
| 8,657 | 2,539 |
Deferred expenditure comprises expenditure incurred in respect of the Fundraising Ball held in November 2022. An amount of £863 was carried forward at the year-end.
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Molly Olly's Wishes
Notes to the Financial Statements - continued for the Year Ended 30 September 2022
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 30.9.22 | 30.9.21 | |
|---|---|---|
| £ | £ | |
| Trade creditors | 511 | 465 |
| Pensions control | 673 | 309 |
| Deferred Income | 40,300 | - |
| Accrued expenses | 2,800 | 2,800 |
| 44,284 | 3,574 |
Deferred income comprises income received in respect of the Fundraising Ball held in November 2022. An amount of £40,300 was carried forward at the year-end.
16. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
| 30.9.22 | 30.9.21 | |
|---|---|---|
| £ | £ | |
| Within one year | 7,200 | 7,200 |
| Between one and five years | 28,800 | 28,800 |
| In more than five years | 18,000 | 25,200 |
| 54,000 | 61,200 |
17. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds Olly the Brave TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Olly the Brave Cycle Ride TOTAL FUNDS |
At 1.10.21 £ 263,332 - 263,332 Incoming resources £ 475,093 9,000 4,000 13,000 488,093 |
Net movement At in funds 30.9.22 £ £ 70,462 333,794 9,000 9,000 79,462 342,794 Resources Movement expended in funds £ £ (404,631) 70,462 - 9,000 (4,000) - (4,000) 9,000 (408,631) 79,462 |
|---|---|---|
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Molly Olly's Wishes
Notes to the Financial Statements - continued for the Year Ended 30 September 2022
17. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1.10.20 £ 194,828 194,828 |
Net movement in funds £ 68,504 68,504 |
At 30.9.21 £ 263,332 263,332 |
|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Warwick Provident Dispensary TOTAL FUNDS |
Incoming resources £ 386,824 5,000 391,824 |
Resources Movement expended in funds £ £ (318,320) 68,504 (5,000) - (323,320) 68,504 |
|---|---|---|
The restricted fund at the year-end in 2022 is a fund relating to a grant received from Dignity to be used solely towards the cost of future Olly the Brave's.
Other restricted grants amounting to £4,000 were received in order to meet the costs of thge 2022 Cycle Ride.
.
The restricted fund in 2021 is a fund relating to grants received from the Warwick Provident Dispensary Charity to be used solely for grants made to individuals living within Warwickshire.
18. RELATED PARTY DISCLOSURES
During the previous year an asset with a market value of £300 was sold to a Trustee, Mrs R S Ollerenshaw.
19. PENSION COMMITMENTS
The charitable Company operates a defined contribution pension scheme. Contributions to the scheme are held separately from the Company in an independently managed fund. The pension cost charge represents contributions payable by the Company to the fund and amount to £2,870 (2021: £2,538). Contributions of £673 (2021: £309) were payable to the fund at the balance sheet date and are included in creditors.
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Molly Olly's Wishes
Detailed Statement of Financial Activities
for the Year Ended 30 September 2022
| 30.9.22 | 30.9.21 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Investment income | ||
| Interest received | 382 | 14 |
| Charitable activities | ||
| Charitable donations and Legacies | 347,139 | 263,966 |
| Charity Balls | - | 24,869 |
| Cycle Ride | 95,572 | - |
| Grants | 45,000 | 102,975 |
| 487,711 | 391,810 | |
| Total incoming resources | 488,093 | 391,824 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Trustees' salaries | 39,675 | 37,900 |
| Trustees' social security | 3,179 | 2,600 |
| Trustees' pensions paid | 1,003 | 950 |
| Charity Ball | - | 10,664 |
| Cycle Ride | 16,502 | - |
| Promotional costs | 157,384 | 60,729 |
| Fixtures and fittings depreciation | 5,145 | 5,508 |
| Loss/(profit) on sale of fixtures | 131 | (300) |
| 223,019 | 118,051 | |
| Charitable activities | ||
| Grants to individuals | 182,207 | 201,531 |
| Support costs | ||
| Governance costs | ||
| Accountancy and legal fees | 3,405 | 3,738 |
| Total resources expended | 408,631 | 323,320 |
| Net income | 79,462 | 68,504 |
This page does not form part of the financial statements.
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