## **ABBIE'S ARMY**
**REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
**Charity No. 1149400 (England and Wales)**
## **ABBIE'S ARMY**
## **CONTENTS**
||**Page**||
|---|---|---|
|Reference and Administrative Details||1|
|Report of the Trustees|2|- 7|
|Independent Examiner's Report||8|
|Statement of Financial Activities||9|
|Balance Sheet||10|
|Notes to the Financial Statements|11 -|13|
## **ABBIE'S ARMY**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**----- Start of picture text -----**
Trustees A Mifsud (Chair)
C Codner
R Mifsud
Charity Number 1149400
Principal Address MPT House
Cobbs Wood Industrial Estate
Brunswick Road
Ashford
Kent TN23 1EL
Independent Examiner M A Wilkes FCA
Azets Audit Services
Greytown House
221 - 227 High Street
Orpington
Kent BR6 0NZ
Banker Lloyds Bank PLC
29 Bank Street
Ashford
Kent TN24 8SS
**----- End of picture text -----**
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## **ABBIE'S ARMY**
## **REPORT OF THE TRUSTEES**
The Trustees present their report and examined financial statements of the charity for the year ended 31 December 2020. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities 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 published on 16 July 2014, as amended by bulletin 1.
## **Public Benefit Statement**
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities.
## **Objectives and Activities**
The objectives of the charity are:
The relief of sickness and promotion of the health of children suffering with DIPG brain tumours in particular, but not exclusively by:
- 1 Promoting public awareness of the signs and symptoms of brain tumours in children and young people;
- 2 Providing funding for the development of research into practical applications for the prevention, treatment and cure of children's DIPG brain cancer.
## **‘Our mission is to:**
## **Raise awareness and funding for DIPG research to help overturn this 'terminal' prognosis. AND**
## **Provide a useful resource, practical advice and support for other parents who receive this horrendous diagnosis for their child, which may include help with fundraising to access possible treatments.**
## **Our vision is a world where there is a CURE for every child diagnosed with DIPG.**
This is our primary objective which guides our work and drives the charity forward on a daily basis.
## **What is DIPG?**
DIPG or ‘Diffuse Intrinsic Pontine Glioma’ is the **MOST FATAL** form of childhood brain cancer which grows in the ‘pons’ area of the brainstem. DIPG represents a huge challenge, only in recent terms have we begun to biopsy this tumour safely which is finally yielding information to researchers in order to create the development of much needed targeted treatments based on an individual tumour profile. Currently DIPG is considered ‘terminal at diagnosis’ and represents around 15% of all brain cancer diagnoses in children. 40 UK children are affected every year. The average survival time from diagnosis is only 9 months.
Our ‘mission’ is to RAISE awareness and contribute much needed funds for children's DIPG brain tumour research which is so woefully underfunded. The facts are inescapable and there is no direct Government funding for DIPG research, we must provide the pre-clinical data required for translation to the patient and adoption within the clinical setting. As with any medical research development it is a long and costly endeavour.
## **For many charities, the global COVID-19 pandemic has had a huge impact during 2020.**
The impact of the necessary ‘lockdown’ restrictions in controlling the virus from March 2020 onwards severely disrupted any ability to raise funds, with the cancellation of every in-person community event on which the charity is totally reliant. As the situation and uncertainty prevailed for most of the year there was a clear shift in the sector to virtual fundraising events, we chose not to pursue this too heavily whilst the situation was precarious for everyone and public support was centred on ‘front line’ services.
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## **ABBIE'S ARMY**
## **REPORT OF THE TRUSTEES**
## **Objectives and Activities (continued)**
## **What is DIPG?**
The priority of the Trustees remained firmly in meeting our existing fundng commitments and supporting families with research counsel where required, whilst still continuing to evaluate in detail the research landscape and any further possibilities for our limited funds amid lab closures and furloughed research staff.
Our dedicated DIPG Trials research position at the Institute of Cancer Research Elizabet Potente, and new 2019 studies with Dr Francesco Crea, Head of research and the epigenetics team at The Open University, were temporarily interrupted whilst lab staff were unable to access premises and work stations. Subsequently safe-working strategies were adopted and updates provided online.
The DIPG ‘community’ were severely impacted as a result of the pandemic with limitations on travel and access for families with any funds to potential treatment options abroad.
## **Despite the challenges of 2020 the charity managed to negotiate its first co-funding of a clinical trial research grant with UCL Great Ormond Street Institute of Child Health.**
Committing £477,000 from 2021 over three years, secured a future ‘in-human’ first use of CAR-T cell therapy in DIPG/DMG in the UK (commencing 2022) for 12 patients at Great Ormond Street Hospital. The inability to access travel abroad and total lack of UK clinical trial options for DIPG were the driving considerations for the Trustees as the pandemic escalated, never were it more obvious that innovative options were needed at home.
The continuing lockdown well into the first and second quarters of 2021 has meant that new fundraising events remain considerably disrupted, and are still substantially below pre-pandemic levels. Funding any further new research projects now depends wholly on how the situation improves.
Abbie's Army has not been affected in regards to utilising any reserves in order to operate or fulfil any of its obligations. As a totally voluntarily led organisation every penny raised can be committed to vital research and we will not commit any funds that are yet to be generated. We remain hopeful and thankful to everyone that has continued to support crucial DIPG research over such a difficult period of time.
## **Grant Making Policy**
Abbie's Army are committed to raising funds and commissioning high quality and innovative medical research to find a cure for DIPG. Grants can only be funded if they fulfil our own specific criteria for funding research and if they are supported by our Scientific Advisories. Our research ‘strategy’ can be found published online on our website. Any grant recipients should always maximise the availability of research 'data' derived from the Grant to others with as few restrictions as possible.
We are committed to providing targeted and biologically relevant study, which contributes to combinational approaches as research is beginning to show this will be needed to be curative. We favour approaches that are medically progressive and translational with clear path to informing future clinical trials, ultimately, we must make the best decision for our donors with the limited resource that we have. Quite simply put the more we have the more we can achieve.
Abbie's Army positively welcomes the opportunity to combine efforts with other charities and fundraising groups to make a wider impact, and family groups in the ‘community’ have made a significant increase in donated funds in the past financial year.
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## **ABBIE'S ARMY**
## **REPORT OF THE TRUSTEES**
## **Charitable Objects for Public Benefit**
In setting our objectives and planning our activities our Trustees have considered the Charity Commission’s general guidance on public benefit.
As Trustees we take very seriously the responsibility to fulfil our duties, serve our objectives and deliver for public benefit our goals for supporting the effective treatment for children’s DIPG brain cancer research.
## **Achievements and Performance in the Year**
Throughout 2020 the charity whilst severely limited continued to promote its profile and advocate for DIPG awareness and research funding throughout the UK.
Towards the end of the year the charity became significantly involved in campaigning alongside a petition on Government for additional funds to support research for childhood cancers with the worst survival rates, such as DIPG. The petition bought by Fiona Govan in memory of her grandson Logan Maclean was successful in receiving 100,000 signatures and as such was debated in Parliament on December 7th 2020. An evidence session also followed with representation from the DHSC and NIHR (National Institute for Health Research).
## **Grants Awarded and Review of 2020**
## **Institute of Cancer Research, DIPG Trials Research position (Jones Lab)**
Abbie’s Army has been supporting Professor Chris Jones’ laboratory for some time at the Institute of Cancer Research, as the UK biology reference centre for DIPG trials, the need to fund a dedicated DIPG Trials Scientific Officer within the team and to expand ICR’s capacity was requested in 2019.
This continued work not only on the BIOMEDE samples (former UK trial now closed to recruitment), but also included children’s samples from other trials in the UK and Europe.
Abbie’s Army funded this second year of appointment for Elisabet Fernandez Potente in March 2020, who was selected by Professor Jones to join the team.
## **Development of H19-targeting antisense oligonucleotides for DIPG therapy – The Open University UK Dr Francesco Crea**
This collaborative project including other research groups was also affected by closures on campus. a strategy was soon implemented in order to optimize the time involved working away from the lab. Research already conducted by the team and by other groups has identified specific lncRNAs (long non-coding) as drivers of cancer cell drug resistance, migration, and invasion. Here the team are proposing to develop lncRNA-targeting ASOs to stop DIPG proliferation, with the final goal of developing personalised therapies for this incurable disease.
Throughout the year studies were eventually completed in full with online presentations providing updates in the absence of lab visits in person. Due to the disruption, the agreed 2019 funding was submitted in its entirety on completion in November 2020. The findings from this ‘seed funded’ study have already been submitted to larger grant schemes including the MRC and created other offshoot projects specific to DIPG research.
## **Plans for the Future**
The charity will continue to be driven by its mission statement, its aims and objectives and ensure the best practice is delivered for our supporters.
We will continue to plan and support covid-safe events to fund raise and seek opportunities to recruit charity partners to secure more sustainable and regular income streams. We are fully aware that fundraising methods can have an impact on public opinion and the reputation of our charity, and we endeavour to self-govern effectively.
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## **ABBIE'S ARMY**
## **REPORT OF THE TRUSTEES**
## **Plans for the Future**
As DIPG is a specific and rare childhood cancer affecting low numbers it will remain the core of our strategy to attract collaboration and invite other affected families who may want to fund raise for research purposes, but cannot see the benefit in the duplication of another charity for that same purpose. 2020 was particularly difficult and any collaboration never more important, in that sense our ability to fund any new research we will proceed much more quickly. We also would aim to actively support the administration of fundraising campaigns for overseas trials and treatments subject to our terms and conditions, to return any surplus funds to a research designation. The charity has produced a ‘Parent Charter and Fundraising Guide’ in this regard.
There are currently no plans to pursue the addition of paid fundraisers or PR advertising to increase revenues.
## **Financial Review**
Income for the year amounted to £134,763 (2019: £279,263) which comes from donations by individuals and
Expenditure for the year amounted to £158,543 (2019: £131,558). During the year, grants were paid amounting to £153,141 (2019: £124,395) to aid the research into DIPG.
This resulted in a deficit for the year of £23,780 (2019: surplus £147,705).
## **Reserves Policy**
In accordance with the Charity Commission guidance, the Trustees review on a regular basis the level of income reserves that it considers appropriate. At 31 December 2020, the Trustees consider it appropriate to hold no free reserves and have deemed all funds as designated funds, in support of its charitable objectives. The designated reserves at 31 December 2020 amounted to £340,6688 (2019: £364,448).
## **Investment Policy**
The investments held by the charity were inherited from previous trustees and committees. No change is foreseen by the current Board of Trustees.
## **Risk Management**
The charity Trustees have given consideration to the major risks to which the charity is exposed and satisfied themselves that those systems or procedures are established in order to manage those risks.
As a small charity working within our structure and environment our situation is not currently overly complex, we must however address risk particularly in relation to finances as it arises with monitoring and evaluation. Our emphasis is firmly on fund raising, so maintaining transparency and full disclosure to prevent any loss of donor confidence and adverse publicity is paramount. Robust selection in grants awarded and transparency on efficacy good or bad will be reported.
## **COVID-19 and Going Concern**
The Trustees in reviewing the risks facing the Charity and the steps needed to mitigate them are currently facing the challenges presented by the Covid-19 pandemic. With fundraising completely reliant on ‘community’ events the income for 2020 and 2021 will remain impacted significantly.
Despite the challenges of 2020 the charity managed to negotiate its first co-funding of a clinical trial research grant with UCL Great Ormond Street Institute of Child Health, committing £477K in funding. £125k has been accrued as a grant commitment in the current year and the remaining £352k will be paid via instalments if relevant milestones are reached.
At the time of writing the disruption to research risk in our associated academic institutions is now significantly reduced and we are hopeful that minimal timeframes may now be lost for any new research implementations, though International collaborators may still be affected.
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## **ABBIE'S ARMY**
## **REPORT OF THE TRUSTEES**
## **COVID-19 and Going Concern (continued)**
As stated previously, we are optimistic of a gradual return to fundraising and ability to maintain an income sufficient to fulfil our research aspirations. As time progresses post-pandemic all efforts will be made by the Charity to ensure we may still achieve these new goals with input and maximum collaboration from all other associated DIPG groups in the UK with ‘research’ in their own remit. Working together has never been more important. On this basis the Trustees believe the charity is able to continue as a going concern.
## **Structure**
The charity name ‘ **Abbie’s Army** ’ is governed by charitable Trust Deed dated 21 October 2012 which was entered onto the Register of Charities on 22 October 2012 under the registration of 1149400.
## **Governance and Management**
The Trustees of Abbie's Army are responsible for the general control and management of the administration of the charity.
During the year the following were Trustees of the charity:
A Mifsud (Chair)
- C Codner
- R Mifsud
Apart from the first trustees every Trustee must be appointed by a resolution of the Trustees passed at a special meeting called by the appointed chairman or by at least two Trustees. The governing document does not specify a minimum or maximum number of Trustees.
Abbie’s Army is a small parent led charity. Its governance remains solely the responsibility of the existing member Trustees who have first-hand experience of DIPG, research knowledge of the clinical landscape and abilities to lead the charity's work.
The Trustees govern the activities of the charity and drive it forward on a daily basis, family members and friends give up their time voluntarily to administer and organise charity events, and ensure the fulfilment of our aims and objectives for 'public benefit'.
No one in connection with Abbie's Army receives payment or benefits of any kind.
Our own small Scientific Advisory panel is comprised of leading experts spanning the globe in children's DIPG brain cancer research and/or administering technologies to develop new treatment strategies. Following principles of peer review for any grant awarded you can be assured of full impartiality from reviewers with complete independence from the charity Trustees. Advisories will not be current beneficiaries when selected to review grant applications, there will be a balance of disciplines and experience depending on the nature and monetary value of the grant.
After external expert review, they will make recommendations to ensure that Abbie's Army is fulfilling its remit to fund the most promising DIPG research projects, with its limited resource. The ultimate funding decision based on these recommendations remains with the Trustees.
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## **ABBIE'S ARMY**
## **REPORT OF THE TRUSTEES**
## **Statement of Trustees' Responsibilities**
The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP 2015 (FRS 102);
- make judgements and estimates that are reasonable and prudent;
- - prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in business;
- - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustees and signed on their behalf by:
## **Mrs A Mifsud**
## **Trustee**
Date: 17 October 2021
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## **ABBIE'S ARMY**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES**
I report on the accounts of the Charity for the year ended 31 December 2020, which are set out on pages 9 to 13.
## **Responsibilities and basis of report**
As the charity Trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
I have completed my examination. I confirm that no material matters except that referred to in the previous paragraph have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounts records were not kept in respect of the Trust as required by section 130 of the Act; or
- 2 the accounts do not accord with those records; or
- 3 The accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
**M A Wilkes FCA** Azets Audit Services
25 October 2021 Greytown House 221 - 227 High Street Orpington Kent BR6 0NZ
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## **ABBIE'S ARMY**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020**
**----- Start of picture text -----**
Unrestricted funds
Notes 2020 2019
£ £
Income from:
Donations 96,814 274,560
Sales of merchandise 1,632 4,703
Gift aid 1,317 -
Interest received 7 35,000 -
Total income 134,763 279,263
Expenditure on:
Cost of raising funds
Costs of event staging and entry fees - 215
Costs of merchandise 2,205 2,570
Just Giving / Paypal costs and membership 1,762 2,727
Cost of charitable activities
Grants awarded 2 153,141 124,395
Website and website hosting costs 200 380
Rates 211 246
Sundry expenses 418 419
Depreciation 606 606
Total expenditure 158,543 131,558
Net movement in funds (23,780) 147,705
Funds brought forward 1 January 2020 364,448 216,743
Funds carried forward 31 December 2020 340,668 364,448
**----- End of picture text -----**
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## **ABBIE'S ARMY**
## **BALANCE SHEET AS AT 31 DECEMBER 2020**
**----- Start of picture text -----**
Notes 2020 2019
£ £ £ £
Fixed Assets
Tangible assets 3 17,212 17,818
Current Assets
Stock 4 1,000 1,000
Debtors 5 1,370 56
Cash at bank and in hand 446,086 382,882
448,456 383,938
Creditors: amounts falling due within one year 6 (125,000) (37,308)
Net current assets 323,456 346,630
Net assets 340,668 364,448
Funds
Designated funds - DIPG research 340,668 364,448
**----- End of picture text -----**
Approved by the Board of trustees on 17 October 2021 and signed on their behalf by:
**Mrs A Mifsud Trustee**
**R Mifsud Trustee**
- 10 -
## **ABBIE'S ARMY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **1 ACCOUNTING POLICIES**
**----- Start of picture text -----**
|||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|1.1|Basis of preparation|
|Abbie's|Army|is|a|registered|charity|with|the|Charity|Commission|in|the|United|Kingdom.|The|address|of|the|
|registered|office|is|given|in|the|charity|information|on|page|1|of|these|financial|statements.|The|nature|of|the|
|charity’s|operations|and|principal|activities|detailed|in|the|Trustees'|Annual|Report|on|page|2|under|the|heading|
|'Objectives and activities'.|
|The|charity|constitutes|a|public|benefit|entity|as|defined|by|FRS|102.|The financial|statements|have|been prepared|
|in|accordance|with|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|(FRS|
|102)|issued|on|16|July|2014|as|amended|by|Bulletin|1,|the|Financial|Reporting|Standard|applicable|in|the|United|
|Kingdom|(FRS|102)|,|the|Charities|Act|2011,|and|UK|Generally|Accepted|Practice|as|it|applies|from|1|January|
|2015.|
|The|financial|statements|are|prepared|on|a|going|concern|basis|under|the|historical|cost|convention,|modified|to|
|include certain items at|fair value.|The financial statements are prepared in sterling which is the functional currency|
|of the charity and rounded to the nearest £.|
|The|significant|accounting|policies|applied|in|the|preparation|of|these|financial|statements|are|set|out|below.|
|These policies have been consistently applied to all years presented unless otherwise stated.|
|1.2|Funds accounting|
|Unrestricted|general|funds|are|funds|which|can|be|used|in|accordance|with|the|charitable|objects|at|the|discretion|
|of the Trustees.|
|Designated|funds|are|unrestricted|funds|of|the|charity|which|the|trustees|have|decided|at|their|discretion|to|set|
|aside to use for a specific purpose.|
|1.3|Income|
|All|income|is|included|in|the|Statement|of|Financial|Activities|when|the|charity|is|entitled|to|the|income|and|the|
|amount|can|be|quantified|with|reasonable|accuracy.|The|following|specific|policies|are|applied|to|particular|
|categories of income:|
|-|Voluntary income including donations|and|gifts|is|included in|full in|the Statement|of Financial|Activities|when|
|receivable.|
|1.4|Expenditure|
|Expenditure|is|accounted|for|on|an|accruals|basis.|The|irrecoverable|element|of|VAT|is|included|with|the|item|of|
|expense to which it relates.|
|-|Costs|of|generating|funds|are|those|costs|incurred|in|attracting|voluntary|income|and|staging|and|entering|
|fundraising events.|
|-|
|Grants payable are accounted for once the trustees have reviewed and discussed applications|
|-|Governance|costs|include|those|incurred|in|the|governance|of|the|charity|and|are|primarily|associated|with|
|constitutional and statutory requirements.|
|1.5|Tangible fixed assets|
|Individual|fixed|assets|costing|£500|or|more are|capitalised|at|cost.|Depreciation|is|provided|at|rates|calculated|to|
|write off the cost of the assets over their|
|Alpacas|Not Depreciated|
|Fixtures and Fittings|20% Straight line|
|The|cost|of|acquisition|of|animals|is|capitalised|to|the|extent|a|value|can|be|placed|upon|them.|Subsequent|births|
|and deaths are not included on the Balance Sheet.|
**----- End of picture text -----**
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## **ABBIE'S ARMY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **1 ACCOUNTING POLICIES**
## **1.6 Stock**
Stock held comprises stock provided as part of charitable activity. Stock is held at the lower of costs or net realisable value. Damaged or obsolete stock is written down as an expense.
## **1.7 Debtors and creditors receivable / payable within one year**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
## **1.8 Tax**
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
## **1.9 Going concern**
The financial statements have been prepared on a going concern basis as the Trustees believes that no material uncertainties exist. The Trustees has considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
The Trustees in reviewing the risks facing the Charity and the steps needed to mitigate them are currently facing the challenges presented by the Covid-19 pandemic. With fundraising completely reliant on ‘community’ events the income for 2020 and 2021 will remain impacted significantly. Despite the challenges of 2020 the charity managed to negotiate its first co-funding of a clinical trial research grant with UCL Great Ormond Street Institute of Child Health, committing £477k in funding. £125k has been accrued as a grant commitment in the current year and the remaining £352k will be paid via instalments if relevant milestones are reached. At the time of writing the disruption to research risk in our associated academic institutions is now significantly reduced and we are hopeful that minimal timeframes may now be lost for any new research implementations, though International collaborators may still be affected. As stated previously, we are optimistic of a gradual return to fundraising and ability to maintain an income sufficient to fulfil our research aspirations. As time progresses post-pandemic all efforts will be made by the Charity to ensure we may still achieve these new goals with input and maximum collaboration from all other associated DIPG groups in the UK with ‘research’ in their own remit. Working together has never been more important.
## **1.10 Judgements and key sources of estimation uncertainty**
Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no areas of judgement or key estimations.
## **2 GRANTS AND DONATIONS PAYABLE**
|Grants to institutions
Institute of Cancer Research
University of Portsmouth
The Open University
UCL Great Ormond Street Institute of Child Health
Grants to individuals - One|**2020**
**2019**
**£**
**£**
7,500
81,237
-
43,158
19,800
-
125,000
-
841
-
153,141
124,395|
|---|---|
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## **ABBIE'S ARMY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019**
**----- Start of picture text -----**
||||||
|---|---|---|---|---|
|Fixtures|
|and|
|3|TANGIBLE FIXED ASSETS|Alpacas|Fittings|Total|
|£|£|£|
|Cost|
|As at 1 January 2020 and at 31 December 2020|16,100|3,029|19,129|
|Depreciation|
|-|
|As at 1 January 2020 and at 31 December 2020|1,311|1,311|
|Charge for the period|-|606|606|
|As at 31 December 2019|-|1,917|1,917|
|Net Book value|
|As at 31 December 2020|16,100|1,112|17,212|
|As at 31 December 2019|16,100|1,718|17,818|
|4|STOCK|2020|2019|
|£|£|
|Stock of merchandise|1,000|1,000|
|5|DEBTORS|2020|2019|
|£|£|
|Other debtors|1,370|56|
|6|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|2020|2019|
|£|£|
|Grants payable|125,000|37,308|
**----- End of picture text -----**
The grant to UCL Great Ormond Street Institute of Child Health, amounting to £125,000, is the first instalment of a four year funding agreement. Each year is subject to various milestones being reached. The total amount of funding is £477,016 and the remaining three instalments have not been recognised as there are conditions to be met before each is released.
## **7 RELATED PARTY TRANSACTIONS**
During the year Mrs A Mifsud paid the following costs, as a donation, on behalf of the charity:
**----- Start of picture text -----**
||||
|---|---|---|
|2020|2019|
|£|£|
|Advertising|140|-|
|Lottery License|40|-|
|Merchandise|83|-|
**----- End of picture text -----**
During the year BTL-UK Ltd (formerly Dunlop BTL Limited) paid £1,076 (2019: £2,915) for the purchase of merchandise to raise funds for the charity as well as the payment of rates and the register of an Alpaca. R S Mifsud and Mrs A Mifsud are directors of BTL-UK Limited.
During the year Abbie's Army loaned £350,000 to BTL-UK Ltd In April 2020 which was then repaid on 30 July 2020. Interest of £35,000 was charged on this loan.
## **8 STAFF COSTS AND TRUSTEE REMUNERATION**
No staff are employed by the charity.
No trustees received remuneration or were reimbursed for expenses incurred during the year (2019: £Nil).
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