REGISTEREO COMPANY NUMBER: 08061944 (England and Wale81 REGISTEREO CHARITY NUMBER: 1149170 REP RT FTHETR Ahl UNAUDITED FIP4ANCIAL TATEMENT FOR THE YEAR ENDED 31 MAY 2024 TTERFLY AVM CHARITY LIMITED A COMPANY LIMITED BY GUARANTEE G George As50V3tes Lvniled Chartered CertIfd Accountants 12 Gateway M$ Riry Vvay London 11 2UT
THEB TTERFLY AVM CHARITY MITED TENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 Pa Report of the Trustees i to S Independenl Examlngts Report Statement of Financlal A¢tl¥iti Balance Sheet 8 10 9 Notes to the Financial Statements 10 10 15
THE BUThERFLY AVM ¢HARrrY LIMITED REGtsTERED NUMBER: O REPORT OF THE TRUSTEES R THE YEAR ENDED 31 MAY 2 The tnislees who are also directors of the tharity for the puw5 01 the cOrnpan Act 2006. present their report with the financial slalement5 of the chanty for the year ended 31 May 2024. The trusiees have adopted the provisions of Accounting and Reporting by charit5". Ststwnenl ol Recon¥Yn¢kd prac aPlble to ¢harities prepanng their ac¢ounts in accordance with the Finanual Reporbng Stsndard arplicable in the UK and Republic of Ireland IFRS 1021 leffectwe I January 20191. OBJECTIVES AND ACTMTIES Obj8ctives and alms The primary objective is to ratse fuTrSs spedt research mto perpheral. brain and eXIrnity Arteriovenou$ Mafformats'ons IAIIMSI. The poliae5 adopted in furfherarKe of these objects a to ratse rnoney Ih¥ough evenis and promotions and donate the proceeds to Instrtulions thal rtarch into irrproving treaknnts for AVMS aTrJ findin9 a re. There has been no change in these during the year The charty aims lo bolh inprovè •xistir¥J treth)ents fw AVMS and hohliJM new wen11 treatments that can l)enpfrt AVM sulferer5. The charrty is also cornrnrtted to findi a cure. aTrJ lo establish a compre1e dalabase of Oociors, Surgeons. Radiolo9ists 3nd Treatrnent Centres. 11 also raises AVM awareness on its ¢7line altorm5 hvJhltyJhtir¥J on access to prolessional advi anL1 b05t possibl¢ treatftnt pathways. The 8Ltterfy Charty conts.nues lo raw its aspirals. A small Chaiity thai drearns bbj tn the hope th one day all their efforts to teadiTrJ lo defthitNe tseabYnts and a cure. P•Je 1
THE BUThERFLY AVM CHARITY UMrrED REGISTERED NUMBER: 08061944 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 2024 O&JECTtVES AND ACTivmES Significant a¢tiviti•s The Buttethy AVM Chanty has contind to enhance rts dedicated UCLGOS AVM Researeh ieam which is based at the University College London IUCLI. Greai Ormo Street IGOSI. Instiiuie of Chikl Heallh and the Franus Cnck Instilule, led by Dr Maanasa Polubothu and Pfolessor Veroftts .Sr. We have abo branched out wilh our funding research and agreecl a grant of £105.$00 The Royal Free London NHS FouThJabon in conjunc"on wlh the UCL. The project is tilled "Delineating Mokcular and Cellular Mechani5m5 in Vascular Malfornation5". Thi5 pr¢Jieci 11 start in May 2025 We woth wth top scientists in the fvéhls of developmental. vascular and oftcogene tiok)9y aThJ with national experts in AVN at Great On0nd Street Hosprtal lo both develop rpw treabiRnts aTrJ to inyove the dinKal Ca anLI for childn and ad0Scent$ with AVM Th¢5 research 15 Potentialty the mo$t inwtyiant ¢UWlty in fiehJ. PTevb)us re5earth has focused on urSerstanding the genelK mulalions that result in the initiabon of tesions spe¢rft to Ihe indivK%ual pabeni However. the InEtialion of vascular maffomiations is a mulli-tsdori31 cornplex process that is poorty uTrJerstood and ¢sellated We b2lieve that thi$ ra)mplicaled personalised approaeh, atthough very Insh1 aTrJ valuab. has sb%%Ed down the discovery of effective therapie$ Our apwoach is to focus on the COnOn mechan$ms of the de0$e thai gwes iise to all vascular maHorrnalions. understandirrfj what tnakes high-flow i.e. arterlovenous MaK0alKIn$ IAINSI drfferent ¢0 low-flow ILFVMsl lesions i.e. venou5 and tymphatic Maoraor. and rf it 15 possib to iThter¥er lo hall WogreS or induce regression of existing lesion$. The key findings of our research to dale". 1.1 Vascular malformation bts)bank.. We have Cated a vascular maffomiab.on biobank ol isolated lissue. cells and blood frorn patnts with vaseular mawormalion lesvjns. who are Èeing ked after by the Royal Free Vascular Malfomiabon Cenlre, lo mprtnI our dinical database We have stsc£essfully isdaled cdls (endothelial and vascular Smooth mu$cTo cellsl Irom these lesions We have also they¢d bkxd the On5 and patients from whth have i%olated immune cells and plasma15erum to look for protein bmynathets. This b"ci)ank 15 & essentol searCh lod for our current and future research in va$¢ular rnalfcrrnatscfjs. 1.2 Increased kvels of intsThffiatK#) in LFVM as muth in AVM ts0d biomarkers are elevated in patnts LFVMS bul not as much in AVTrA$ Hisldo9y of Ihe sionS have veed increa5t I15 of inflammalory ce115 inside the lissu85 which would potentialty ad a5 therapeut targets in luty. 1.3 Endothelol 11$ from vascular mawomation lesions are dysfvndpjnal conliNousty'adivated'. This acINatn causès endothelial cells to attrath immune cells to lesi)n driving the cbsetved excessive Inflammation and angiogenesis. We have entrfied speofi¢ cellubr 9naIlU paihway5 thai meth.aie lnflarnrnaI wbich are over-active in vascular rnalfomiation endoiholial cell5. 1.4 The 'acti¥ated' phenOtypStaie of the LFVM endotheh.al cells are very sensitive lo inftammalory 1ri99ers. We have discovered that LFVM endothelial 11$ pr<KjU more inflammatory and adhtsion ffokules in response to inftammatory stimuli anij ihe DNA structure of the gers assocote(I th inframmation in ¥)ese cells 15 primed and ready to be switched on iesullin9 in the producton of mre Inflammatory PTOteirts. 1.5 Tran5criplomic analysis IRNAseql have vealed speufic genes and rnethanistic pathways which a altered in LFW5 Our data ha5 shown that ge$ involved in Cell. prdrferats"on. hypoxia. inflammation, cell junctions and energy rnetabdism are irwtsnt in thè dkstase mechanism. Over•rthiry4 Objective and aiThs'. Our obj'ective is to discover the uThJerlying rnolecular and cellular rrthni5ms that result ITh LFVMS ancj AVMS in ¢)rder 10 identify effective therapeutic targets The specfv aims that * will yse to addsS Ihi5 objective are. 11 The Butteffly AVN Chartys lunding will be utilised to hetr define aTrJ charactew in delail tl cellular arKI molecular composrtion of LFVM and AVM lesions. 21 To Identify key cellular PalhYdy5 Ihat a¥e ¥Cl¥ed in the nRthanism of Iltsease Su. in either LFVMS and AVMS and lest these pathways in vilro model$. 31 To identfy key mole¢ules Ihal can be targeted lo di8fUPt the abnormal llUlar mechanism of d¢5e35e. We wll first I( to rpUSe existiThJ drugs that have been Sh lo be effeclive tJt sale frcffi research in other dseases (such as ¢ancrl. 41 To test Splfi¢ drugs lthntthed in Awn 31 in primary LFVKI and AVM lires avaiL8ble wi in our Bbafik.
THE BUThERFLY AVM CHARrrY UMITED
REGL8TERED NUMBER: 08061944
REPORT OF THE TRUSTEES
FOR TrIE YEAR ENDED 31 hiAY 2024
08JECTNES AND ACTIVITIES
The Experin*ntal plan.
11 To defi and chara¢terise in detail ts lIural atsj ftKJI8l ctynposth.on of LFVM arKI AVM le5ion5.
We wll map the cellular la8¢ape of LFVM ar¥J AVM ugw siThjItrll RNA.seq to ¢Je¢ipher Ihe ]rU13r even15 that lead to
developrnent and prcgression of vascular mafformations. Three key questnS wll be al$Se.. Whal cell types are in th&
vascular maMormatK)n they behave? How do Ilw infiuence orE anotheffl
We 11 use mutt1pX imaging io conf¥rn Ihe findir¥Js of the siThJle
THE BuEftFLY AVM CHARtrY LIMfTED REGISTERED NUMBER: 08061944 REPORT OF THE TrUSTEES R THE YEAR ENDED 31 MAY 2024 OBJECTIVES AND ACTMTIES Nikki Christou has also conts.nued ro zs The &Jtterfiy AVM Charity aftJassad¢r carrpa¥Trer and recently appear8d on many p1alf05. raisin9 aWarer ol The Charity aTrJ AWS. She Fw7)oles iht aVdrene5s of Ihe ¢Yifficullies of hawng ronic ¢isease and the lrnWrtan of Inased lunding for research in rare ¢JLseases by both the Government and phamiaceutKal Cornpans. Due to the rarity of AVMS and the lad( of understandin9 the chanty has eonlinued to make a concerted effort to provhle $ufferer5 Wrth an upto4ate bsite whith has ncw beers updated lo make rt MO rtspon5ive and user Iriendly and provides a to infom) farni15 aboutlhe btest treatments ha5 raised awareness to an all-bmE hHJh. Publlc ben8fit Th8 tru51ees have gNen due regard to guNlance tssued by the Charty Commssion in tle¢K4iny whal actNilies the chaity should undertake The tru$lees have cornpld th the duty in sectson 17151 of the 2011 Charits"es Act to have due regard to guKYance published by the Chanty Commissi. Detsils of the chafivs a¢it$ are for Ihe publK benefii a delaikd in this report and the trustees have gwen due considera1 to the Chanty CommissH)n gukdanc8 on ptsblic benefrt. Grantmaklng The charitys grant making polKy is lo seek Ixrt poss causes lch may a5SiSt in makiNJ I#ents rnore SLrcessful as ell a$ di5coveriThJ r treants and for Ihe trustees lo make a majorrty detssion as lo Whetr to support the activity by way ol a grant. FINANCIAL REWEW Resèr¥ts policy 11 Is Ihe polw of the charity that unrestricted funds Ythich ha r1 teTh desvJnale(I for a speufic use shouk4 be mainlained al a level equNalenl lo beh¥een three and 5i¥ rnonth's adminislrabve aNJ support expenditure. The tru5tee5 conshaer that serves at thi5 level will ensure Ihal, In the evenl of a SIJnrfanI drop in fvnding, Ihey 11 be abk to continue the charitys Cufrenl actNities while consideration is gNen io ways whKh •Jdth'cnzl lunds may be raised The Ve1 of reserves has beeTh maintsin8d throughout the year. At the end ol the year thè chafity reserves as folh)ws.' General un51cted fund.. £S1.862 De$i9nated fund- Research.. £135.C£Q Designated fvn¢l. Treatrnent.. £30.C(o During thè year Ihe charity ratsed total donath)Ths of £172.665. IndL8ed in totsl dcfjations, was £94.263 raised Irom Ihe Thta1 8utterfty 8aM. on 11 November 2023. Al Ihe end of the year. the irKrease in fvnds forthe Fer was £54,137. The charity ntinUed io maintsin heatthy bank reser. A revw of the internal financial controts was rtn dn9 thè year. and we assessed as adequate for Ihe functioning and stewardship of the charity- STRUCTURE. GOVERNANCE AND MANAGEMENT Govemlng do¢um•nt The charity is a c(xnpany lrnrted by guaraniee. a5 defined by Ihe Con¥Jans Ala 2(th. 11 is controlled by its governing ocumen15 whKh are the ftmor3ndum and articles ol assc¢la0Tr. Rtcwitrnent and appolnbnpnt of new trnst¢¢s The melh(xJ of reu'rrfj and appoiniing tntstees by majonty t0"5n of the trustees currenUy in offi. None of the Trustees has aThy befal intefest the cjryny. All the trL6tee$ a mgrnters ofthe company afid guarantee lo contnbute £1 in the event of a ¥ndIng up. Organisational strtstfvr• Mr G chrloU is the operatlonal manager ol chaty. Oecisions arè taken vthh a majc¥rty wte arrKryst Ihè trustees.
THE BUTfERFLY AVM CHARifY LIMrtED REGISTERED NUMBER: 08061944 REPORT OF THE TRUSTEES FOR THE YEAR ENDED J1 MAY 2024 REFERENCE AND ADMINISTRATIVE DEfAILS Reglstered Company numb•r 08{1944 IEn9larKI and wa$) R•gist•red Charity number 1149170 R&giBtsred offK• 869 High Road North Fin¢hky London N1280A Trust$ Mr G Christw Director Mr C S GeOrgU th"rector Mr K Perifimou Diredor Independent Examlner Mr Philip Onissiphorou BA (Hortsl FCCA FCA G. George A550Ckltes Lirnited Chartere<J Certthed Accountants 12 Gateway Me% Ring Way London N11 2UT This report ha$ l)een prepared in a¢c¢Ydanctr th8 SP8aal wowsitins cl Part 15 of the Cc¢npanv&s A¢t 2 relating lo Small cornpznk?5. Approy by order ol thè board of tiusté•5 on 26 Febwary 2025 and signed on its behawby.. Mr G Chri$tou- Tw$tee Pa9e 5
INDEPENDENT EXAMINElfS REPORT TO THE TRUSTEES OF THE BUThERFLY AVM CHARITY LIMITED Independent •xaminerfs report to the truslee$ ol The Butterfy AVM Charity Llmited Compan) l port lo the chanty tru51ees on rny examinalwjn of Ihe ac£ounts of the C(thpany for year erKled 31 May 2024. Rèsponsibilities and ba818 of report A$ ihe ¢harity's Iru5tee5 of the Cornpany laTrJ a150 its directors for the purpose5 01 company I} you are SponSi) for thè Ppar0"0n of the accounts in attordarKeith the rewirntS ol the Companie5 Ad 2ff61.the ZIM)6 Arfl Having sat15r rnyself that the accounts ol the C(npafty we (1 requi io bè audiled under Part 16 of the 20CE Act a eloible for indendent examination. I report In respect of my examinats" ol your thaWs accounts as carried out under Section 145 of the Charities Act 2011 I'lhe 2011 Ad'l. In carryiny out my exzminath?n I have followed the Direcbons gNgn by Ihe Charrty C(¥nmi55ion under Sethgn 145151 Ibl of the 2011 A(1. Independent examinerfs statement I have c<mpleied my e¥aminab'oo. I confirm Ihal no Matte have to my auenb.on in ¢xnneclion with the emaminab'on givirrfj me cause to believe". ae¢ounling records wre not kepl in respett of the CtynpaAy a5 Tequired by Secli?n 386 of the 2Crf)S Act." or the accounts do not accord with those record5. the accounts do not cornply th the accoLbnting requirements ol Se¢D"on of the 20(6 Act other than any requirement that the accounts gwe a twe and fair which 15 noi 8 matter consthred as part of an independent examination., or the attounls have not been Prepa in a¢c4vdance meihods and prinopk5 of the Ststemenl of Recommended prat for accounting and reporlmg by chariies (appItab to tharilies preparing their accounts in aCcor<jan wlh the FJn3nual Reporting Standard aWKab12 in the UK and Repvblic of I13nd IFRS 10211. I have no toncerr¢5 and have come across no Ixher mattets IA connEc1Tr wth Ihe exarninatioTh to which attention should be drawn in thi5 report in order to enabk a undèrstandir¥J oltht to be reached. Mr Philip Oniqsipbofou BA IHonsl FCCA FCA The As50aatKJn olchartered CertF[d AcccoJn¢ants G Georg8 Associates Limrted Chartered Certrfd Accountants 12 G81eway Mews Ring Way London N11 2UT 26 February 2025 Pw6
YHE BiJrrERFLY AVM CHARITY UIthTED TEMENT OF FINANGLAL ACTNITIES FOR THE YEAR ENDED 31 MAY 2024 2024 Total fund5 2023 Total fund5 UnrestrKted lunds Rest¥tted lund INGOME AND ENDOWMENTS FROM Donations and *ue5 172.665 172.665 113.317 InveStftnt inceme 5.317 5.317 793 Tolal 177.9B2 177.982 114.110 EXPENDITURE ON Raising lunds 55.816 55.816 49.345 haritable activities Research Funding- DesNJr 68.029 43,620 Other 33 Totsl 123.845 123.84$ 92.998 NET INCOME 54.137 54.137 21.112 RECONCILIATION OF FUNDS Total funds brought forward 162.725 162,725 141,613 TOTAL FUNDS CARRIED FORVIARD 216.862 216.862 162,725 The notes form part ol Ihese finanoal $tnIS Page 7
THE BUTTERFLY AVM CHARifY LIMITED REGISTERED NUMBER: 08061944 BALANCE SHE 1 MAY 2024 2024 Total fund5 2023 Total funds Lknr•strthd nds ReStried fiJnd Nos URRENT ASSETS Deblgrs Cash at bank 9,313 153,412 216.862 216.862 216.862 216.862 162.725 NET CURRENT ASSETS 216.862 216.862 162.725 TOTAL ASSETS LESS CURREMT LIABIUTIES 216.862 216.862 162,725 NET A&%ETS 236.862 216.862 162.725 FUNDS Unrestricted funds. General fund Kjnaièd fund- UnNer5ity Conege London Designated fund- Nikki Chrisiou Treatmenl io 51.862 135.oc 30.0(K) 57,725 75,000 30,000 216.862 162.725 TOTAL FUNDS 216.862 162.725 The ¢haritab is entrt to exempl frcffj audit under SectsC 477 01 the CoMpanS A¢t 2006 for the year ended 31 May 2024. The rnernbtt have nol required the rnPanY to obtain an a1 of ts finanoal sts¢ents for thp year ended 31 May 2024 in accordance wth Se¢b"on 476 01 the Companvès Act 26. The tru51ee5 acknedge Ihetr respgn$ibihiS for (al ensuring Ihal Ihe Charitab covnpany keeps accountirwj rec(Jrds Ihat Compty th Sectx)r$ 386 and 387 01 iha CcThpans Act 20C6 and prepanrg finan¢ol ststernents whth give a true fair view ol ihe state of affairs of Ihe ¢haiitsty company a5 at Ihe end of each finanoal year arKI of tt5 Surplus or d11 for each financjal year in accordawe wth the requirements of Section5 394 and 395 and whth Olherwse coryty wilh the reqUIrnentS of the Compan5 Act 20[ relating 10 nanual stalernents. so lar a$ aFpkable Io Ihe tharrtab ¢eAwrty. The notes fomi part ofthese financial stalernents Page 8 ¢onts"nued...
THE ERFLY AVM CHARITY LIMITED RE TER D NUM8ER: 080619M CESHEET-¢ 31 MAY 2024 These finanrial $talemenl$ have been prepared in accordan wilh thv prow5icfrs ap4ab to charitable companies subiecl 10 Ihe srnall compan5 regi. The finanual statents were aFpro¥ed by the 8oarO of Twstees and aulhwd for issue on 26 Febwary 2025 and were signed on it5 behalf by.. MrG hristou- Twstee SGeo u- Truslee The notes fom) part ofthe5e final 51atemeThts P•Je 9
THE BUTfERFLY AVM CHARITY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 hiAY 2024 A¢¢OUNTfNG POUCIES Basis of preparing th¢ finartrial statements The finanoal slalements of the Chalilae company. whrh is a pubft befil entrty under FRS 102. have been prepared in aecordance wilh the Charthes SORP IFRS 1021 'AoUntij and Reporting by Charities" Staternent ol Recomffndèd Pract >p1(ab to thant5 preparirYJ their accounts in accordan with the Finanoal Reporting Standard applicab in the UK Republic of Ireland IFRS 1021 lelfectNe 1 January 20191.. Finanoal Reporting Standard 102 The Finanoal Reporting Standard applicAble in the UK and RepblIC ol I101. and the Cunpaft5 Act 2006 The finattcial stalements have been prepared under the historical cost con¥enbr)n. The tharity a wi¥ale limited ctsnpafiy wi5tered in tl UK and lirnrted by guarantee Detai15 of the company re9iStered oifice zTrJ PL8 c4 OFeral$ are detri in the truslees pOrt. The Irus¢ee$ a Oft coryany and guarantee to conlribuie £1 tn the event ol a indin9 UP. snC3Tht inlerest remains fr(xn the SVPPNtsr5 of Ihe thanty to allend the annual dinner and dan. and Nikki Christou's popularty media wesence keeps cwojlab.ry charity aCbvits Mthin 50oal and rna4Th 51rearn The Charitab company ha$ taken thanlage of the follown9 di5dosure exempts'on in preparing these finanoal statements. 85 pWrnrtJ by FRS 102 The Finanoal RepthrKJ StsThJard awicabk in the UK and Republi¢ of Ireland.: thè raquirents ol Se¢lbw 7 stsiement ofcash FIM. Income All income ks reccgnised In the stsiemeni ol Finanual Atlivites On the charty has entitrnent to the fvnds. it is probable Ihal the incorr wll bè fNed and Ihe ¢an be >SU[ed teliabty. Expenditure Liabilrtie5 are reccgnised as eXPendrtU as soon as the ts a le9al or constructive obl¥ation cornrnitting the ¢hanty to that expenditu. rt is probab that a transfer ol eCOr7 tenefits VAII be requi in settiemertt and the a)Unt of the obligation can be measured reliably. ExpeTrJrtiire 15 accounted lor on an acuuals basis and has been cL455ified under headings that aggre9ale all cosi lated to the caw)ry. costs cannol be direcuy attnbuled to paCular heaclings they have teen allocated to actNbtes M a basi8 corsisteniwth the use of ¥esource5. Grants offered subj.ect lo Cffftdon9 have ntst been rnèi at the year end dale are ngted as a commiiftnt but t accruèd a5 gxFer¥Jrture. TaxaWon The chanty is exempt frcffj corporation tsx on its charitsb aclNrt. Fund a¢¢ounting Unrestricted lunds can be [ed accordan¢eith t tharilable obJe¢b"ves al the discretion of the trustees. Restricted funds only used for paujIaT reslncted purposes thIn Ihe obJ"e(ts of the charity. Restrictions anse when 5pecrfEd by Ihe donor or when funds a faised for parbcular restricted pvrp05es. Further explanation of the nature and pury)ose of each is in the notes lo Ihe finanval $tslement$. Govornan¢• ¢ts Governance costs for the have been assessed and som2 of these a consKJered to be more in line wrth cos1$ for Tai5iryJ hJnd5 for the charity a5 OPP05ed to beirwJ stridy for the governance of the charty. These have been adjusted as per th8 transitional FRS 102 Ststeftts. P¥J6 10 contnued...
E BUTfERF CHARITY UMITED NOTES TO THE FINANGIAL STATEMENYS . contlnu8d FOR THE YEAR ENDEO 31 MAY 2024 DONATIONS AND LEGACIES 2024 Total funos 2023 Total lunds Ufirtsted funds ReSte fund$ DDnatKJns 172.665 172.665 113.317 INVESTMENT INCOME 2024 Total lunds 2023 Total funds Unr¢stri(led Restri(led fvnd5 lunds Deposst account interest 5.317 5.317 793 RAISING FUNDS Ralslny donations and lega¢ie¥ 2024 Total funds 2023 Tolal funt1$ Unwln"cle(I ftjnds Restricted funds Events Charity awareness Sypport Costs 53.557 53,557 47,767 224 2.259 2.259 55.816 55.816 49,345 GRANTS PAYABLE 2024 2023 Research FuTrJiThJ. Des9nated 68.029 43.620 The total grants to insbtution5 duiing the year w35 a5 f¢lkfiK%". 31.S.24 31.5.23 UnNer$ity Colle9e London IprevioLtsty G1 oMnd streei Hosp81) 68.029 43.620 The abo"Grants to InstitlOnS. are to UnNw5ty Conege London IUCLI for research into ihe AVM coThdilion. Payments made in this financial pwd were as foll(Nvs." £27.975 was paKI on 14 December 2023. £34.898 vras paid on 16 Febwary 2024 and £S.756was pahl on 12 Maich 2024 Paye 11 continued...
EBU RF Y AVM CHARITY LIMITED NOTES TO THE FINANCEAL TATEMENTS- continued FOR THE YEAR ENDED 31 2024 TRUSTEES. REMUNERATION ANO BENEFITS The were no trLIee5. remuneraix or other benefits lor the year ended 31 May 2024 for the year ended 31 May 2023. TTUStees' expen8es There wre no tru5tees' expenses PaKI for the yearended 31 May 2024 K)r for year ended 31 May 2023. MATERIAL TRANSFERS A transfer wos undertaken of £128.029 from th8 gerw31 to Ihe desKJnaled lund of Uniyersty Cge London 10 allow for research grant5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTWMES Unrestftcled lunds Restficted lund Total funds INCOME AND ENDOWMENTS FROM DonatiS and ae$ 113.317 113.317 INve$trnent irtwe 793 793 Totsl 114,110 EXPENDITURE ON Raising funds 49.345 49.345 Chaiitable activitres Research Funding- csbJnaièd 43.620 43.620 Other 33 Totsl 92.998 NET INCOME 21.112 21,112 RECONCILLATrON OF FUNOS To1 fvnds broLvJht for*4a(d 141.613 341.673 TOTAL FUNDS ¢ARRIED FORWARD 162.725 162,725 DE8TORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Prepayments 9,313 Page 12 continued...
THE 8urrERFLY AVM CHARITY NOTE THE FINANCIAL STATEMENTS_ ¢ontinu• FOR THE YEAR ENDED 31 MAY 2024 10. MOVEMENT IN FIJNDS Tonsfe bets¥een funds m0veftnI in lunds At 1.6.23 31524 Unrestrf¢tsd lunds General fund Designated lund. University Col LoThJon Desi9naleO fund- Nd¢ki Christou Treabnent 57.725 75.000 122.166 168.0291 1128.0291 128.029 51.862 135,( 162,725 54.137 216.862 TOTAL FUNDS 162.725 54.137 216.862 Net movern8nt in fund5, in th8 atove are 35 folkms.. IncomiThJ resou¥ces Resources eXPe£d MoveThTrt in funds Unrestrlcted fvnd8 General fund De5vJnated furbJ- UnNetsrty Cdkge Lc 177.982 155.8161 168.0291 122.166 168,0291 177.982 1123.8451 54.137 TOTAL FUNDS 177.982 1123.8451 54.137 ¢omparativ05 lor rnovement in funds Net m0VewnI wi fur Transfers bekn4Een lund$ At 1.6.22 31.5.23 Unr05tricted funds General fund Oesi9naled fund- UnNersty Lond DesKJnaied fvnd- Nikkb Chl0U 69.363 43.(XXI 29.250 64.112 143.(XY)I 175,7501 75.( 750 57.725 7S.(MJ) 141.613 21.112 162.725 TOTAL FUNDS 141.613 21.112 162.725 Ccffiparatwe r1 rnovement in funds. in Ihe atty)¥e are as Idl)w5.' Inccffling resources Resour$ exFended Mgvement in lunds Unr¢$tri¢*d fvnds General fvn(I De5vJnated fund- UnNersity Cdkge Lwd( 114.110 149.9981 143.OLK)I 64.112 I43.0) 114.110 192.9981 21,112 TOTAL FUNDS 114.110 192.9981 21.112 P•3e 13 tonb"nued...
TfERFLY AVM CHARITY UMITED NOTES TO THE FINANCIAL STATEMENTS. eontinued FOR THE YEAR ENDED 31 htAY 2024 10. MOVEMENT IN FUNDS. ¢ontlnued A Current year 12 nthS aTrJ prioryear 12 monihs cmkn.ned posith?n is as fd1r1.. Net movernent in funds Transfers bètsveen lunds At 31.5.24 At 1.6.22 Unre8trictsd funds Goneral fund Designated fund. UnNwsity Colkge Lon Designated fund- Nikki Christou Treatrnent 69,363 43.CWJO 29,250 186.278 1111.0291 1203.7791 203.029 750 51.862 135.000 30.Tr)0 141.613 7S.249 216,862 TOTAL FUNOS 141.613 75,249 216,862 A current year 12 rnonlhs and yw)r y&ar 12 nKth$ cirtjined net ment in lunds. ude{l in Ihe above are a5 follow5" Incoming resour5 Resources expenlled Movement in funds Unrestrictsd fvnd8 General fun Desi9nated fvThJ- UnNersty Cdkge Lon(kn 292.092 1105.6141 1111.0291 186.278 1111.0291 292.092 1216,8431 75.249 TOTAL FUNDS 292.2 1216,8431 75,249 The ¢Jesignaled funds represent knds Ihat have been set asth crtjt of unrestn¢ted by the tru5tee5 for purposes. The Vnwer5ty College London Research Fund Iprewously Greal OrrnoTrY Street Hosprtall is for the grant payrrents for research bein9 undertaken by Unwetsity College London Into the AVM ¢oNJiD"on. The Nikki Chllsknj treatrnent frjnd 15 for a grant lurfher aTrJ Irealmenis on Mi55 Nikki Christou's A cond"0n Transfers tse1*n fund8 A transfer bfds ayreed by the trustees in Ihe finanoal year of £128.029 frorn thè Ufftrestn¢xed general fund lo a Designzted fund to cover the research being ufidertaken into Ihe AVM condrtion by Uni¥er5ty College London {pvIOUslY Great Om)oncl Street Hosprtall The balaft ol Ihi5 DeS¥JDat fund ai the yeaf end was £135.000. Page 14 Continued...
THE BUTfERFLY AVM CHARITY UMITED NOTES TO THE FINANCIAL STATEMENTS - contind FOR THE YEAR ENDED 31 MAY 2024 11. OTHER FINANCIAL ¢OMMtTMENTS The charity has a commrtmenl to pay £47.751 in the flThj fmanrial year for the ongThng research inlo the AVM condition £135,(XKJ has been de5vJnaled tr Ihis purpose and has been fiette as such in these accounis. A furthr agreement as m•ae ¥Ath on 28 January 2025 to provbje grants toiallin9 £105.5() 1 May 2025 10 30 April 2026 12. RELATED PARTY OISGLOSURES The *rary. Miss Nk1 Clwtstou. is the d3hter Of1 trtee Mr George Chri5tw. A de$i9nated lund lor tlke orooing treztrnents of Nikki Chrislou exists at the year e1 and its dosing balance was £30,¢JX). Paje 15