**ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020**
PASIC Registered Charity 1163662
www.pasic.org.uk
**PASIC ANNUAL REPORT & FINANCIAL STATEMENTS For the year ended 31 August 2020**
|**Contents**|**Page**|
|---|---|
|Trustees’ report|01|
|Independent examiner’s report|07|
|Statement of financial activities|08|
|Balance sheet|09|
|Statement of cash flows|10|
|Notes to the financial statements|11|
|Thank you|23|
**PASIC TRUSTEES’ REPORT For the year ended 31 August 2020**
The trustees present their annual report and the financial statements of the charity for the year ended 31 August 2020.
The financial statements have been prepared in accordance with the accounting policies set out in the notes and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {Charities SORP (FRS 102), second edition - October 2019, effective 01 January 2019}.
## **Reference and administrative details**
|Charity name|PASIC|
|---|---|
|Charity registration number|1163662|
|Principal address|c/o E39 Children’s Oncology Daycare|
||Nottingham Children’s Hospital|
||Derby Road|
||Nottingham|
||NG7 2UH|
|Trustees on the date the report was approved|Lynne Farrage (Chair)|
||Anoushka Akins (Vice-Chair)|
||Mark Roper (Treasurer)|
||Margaret Parr (Lead Nurse, EMCYPICS)|
||Mark Rye|
||Andrew Ball [appointed October 2020]|
|Other trustees who served during the financial year|Kathryn Tuddenham [resigned March 2020]|
||Katie Papworth [resigned December 2019]|
||Paul Burrows [appointed February 2020,|
||resigned February 2021]|
Page 01
**PASIC TRUSTEES’ REPORT For the year ended 31 August 2020**
## **Structure, governance and management**
PASIC is a registered charity, constituted as a charitable incorporated organisation (CIO) in September 2015.
The charity was originally founded in 1977 as “Parents Association For Seriously Ill Children (P A S I C)” (Charity registration number: 506778), providing support to families coping with the devastating impact of childhood cancer. All assets and operations were transferred to PASIC in 2015, on its establishment as a CIO.
Today, PASIC comprises four staff, six trustees and over 50 volunteers, many of whom have first-hand experience of childhood cancer.
PASIC’s governing document sets out its objects, powers and how it is to be administered. The CIO’s only voting members are its charity trustees. If the CIO is wound up, the members have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.
The trustees are legally responsible for ensuring that the charity is well governed and run effectively and efficiently. The trustees regularly review the skills, knowledge, experience and balance of the board and look to recruit new trustees if any gaps are identified. Once vetted, new trustees are appointed by a resolution passed at a properly convened meeting of the board.
## **Objectives and activities**
The charity’s purposes, as set out in its constitution are:
- To relieve the needs of children and young people being treated for cancer, leukaemia or brain tumours by the East Midlands Children’s and Young Persons’ Integrated Cancer Service (EMCYPICS) and their families by providing emotional and practical support and organising activities and events such that, for at least brief periods, these families have opportunities to spend quality family time together.
- To help relieve the financial need among the parents and families of such children and young people.
PASIC has been providing vital support to families coping with childhood cancer across the East Midlands for over 40 years and our vision is no such family faces this alone.
The main activities undertaken by PASIC to further its purposes for the public benefit are:
- **Family support** : We fund two Family Support Workers, one at Nottingham Children’s Hospital (at the Queen’s Medical Centre) and one at Leicester Children’s Hospital (at Leicester Royal Infirmary). Our Family Support Workers offer emotional support and practical help to the whole family, at what can be a very traumatic time. PASIC are unique in continuing to offer support to families up to three years post treatment, when life can still be tough. Children and young people may be left with chronic health issues and families often feel anxious and worried about trying to get back into normal life.
- **Family events and activities** : We organise days out, parties and activities for all the family, enabling them to spend time together and have fun, when life is at its most challenging. Our events and activities reduce isolation, help to build resilience and confidence and provide an opportunity to meet and talk to other families.
- **Family grants** : We provide grants to families suffering financial hardship as a result of higher living costs and travel expenses following their child’s diagnosis. For families with children and young persons in palliative care, we offer ‘Making memories’ grants to help them make precious memories. We provide financial support in the form of ‘Compassionate’ grants to those families who have sadly suffered a bereavement, to help with funeral costs.
The trustees confirm that they have complied with Section 17(5) of the Charities Act 2011 in having due regard to the Charity Commission’s public benefit guidance when exercising any powers or duties to which the guidance is relevant.
Page 02
**PASIC TRUSTEES’ REPORT For the year ended 31 August 2020**
## **Achievements and performance**
The number of families supported by PASIC continues to grow, with us becoming more established in Leicestershire, the ongoing development of our services in Northamptonshire and attempts to reach those families living further afield, in the far corners of our region.
We currently support 380 families, a total of over 700 disadvantaged children and young people, including siblings.
## Family support
Our Family Support Worker role at Leicester Children’s Hospital is now in its fourth year and we are extremely grateful to The National Lottery Community Fund for their award of a four-year grant, which will fund this post until December 2023. Our Family Support Worker obtained an honorary contract with the Northampton General Hospital NHS Trust in 2019 which has enabled them to attend and offer family support in paediatric oncology clinics.
The 2020 Covid-19 pandemic posed a significant challenge to PASIC. The speed with which the pandemic developed and the rate at which lockdown restrictions were imposed meant we had to react quickly to adapt our support services to families, many of whom were already vulnerable and isolated. With our Family Support Workers unable to work from their usual hospital bases, they’ve had to adopt new ways of working, increasing their use of technology to support families remotely.
We’ve offered practical help where possible, organising care packs and providing supermarket vouchers for families at emotional and financial breaking point. We are indebted to those organisations that provided PASIC with Covid-19 response funding (thanks in particular to the Martin Lewis Coronavirus Emergency Fund, Bauer Radio’s Cash for Kids Charities, The National Lottery Community Fund and BBC Children in Need), enabling us to increase support to those families most in need.
Our Family Support Workers offered over 50 hours of face to face support each week on the children’s oncology wards before they were forced to work from home due to Covid-19 restrictions. From this point on, they’ve been delivering a blended approach of support, in conjunction with our Family Support Administrator, offering advice, signposting and a friendly ear on the end of the phone. We’ve responded to feedback to ensure that our services continue to meet the growing and varying needs of our beneficiaries.
Our Family Support Administrator has been working additional hours to handle the increasing demands on our services and growing digital response, including setting up an online parent support group which now has 135 members.
We’ve built on existing links with other charities who offer support to young people with cancer and have continued to work with the likes of CLIC Sargent, the Teenage Cancer Trust, Supershoes and the Ellen MacArthur Cancer Trust. We are increasingly working in partnership with other organisations, to maximise support for families, be it providing essential items, organising respite breaks and experiences or other forms of assistance.
We regularly monitor and evaluate our work, using both qualitative and quantitative data to measure our impact. We listen to our families in a relaxed and informal environment, feeding their views into our planning process to ensure our support offering remains appropriate to their needs.
## Family events and activities
We are delighted to report that BBC Children in Need awarded PASIC continuation funding of £30,000 per annum for three years from August 2020, to enable us to carry on our program of events and activities, to reduce isolation and increase fun in the lives of those affected by childhood cancer. We are extremely thankful for BBC Children in Need’s support over the last few years and we look forward to continuing our association.
Numbers attending PASIC events before the outbreak of the Covid-19 pandemic remained buoyant. We funded 1,304 individual places on group activities during the period September 2019 to March 2020. Feedback shows
Page 03
**PASIC TRUSTEES’ REPORT For the year ended 31 August 2020**
these activities had a significant impact on reducing isolation and building confidence in families of children with cancer and in strengthening the family unit.
In September 2019 we organised our popular annual outing to Drayton Manor Park, with 467 children and young people and parents and carers having a fun filled day out. We built on the success of our trip on Great Central Railway’s Santa Steam Train Express in 2018, with our second outing in November 2019. Kindly donated by local businesses, 149 children and young people enjoyed the exciting journey with their families, getting to meet and chat to the man himself!
We funded 413 places for families at pantomimes in Nottingham, Leicester, Northampton and Loughborough in November and December 2019. We hosted a fun packed Christmas party for 176 attendees, with a range of entertainment and presents provided by Bauer Radio’s Cash for Kids Charities.
We worked in partnership with KidsOut charity once again this year, to offer places on a range of free outings to our families, including Drayton Manor Park’s Magical Christmas.
Our Family Support Workers always look to facilitate activities on the ward for those undergoing treatment, such as art therapy sessions and visits from characters and entertainers.
With the Covid-19 pandemic impacting on our ability to organise events, we distributed nearly 200 activity packs to children and young people undergoing treatment, tailored to provide fun games, crafts and distractions for all the family, in the safety of their own home. The feedback has been heart-warming and whilst we’ve missed seeing our families, it’s great to know that we’re still making a difference during a difficult time.
We’ve offered a range of fun activities for families throughout lockdown via social media and digital platforms, to help reduce isolation. We hosted a virtual Easter party with crafts and a live-streamed dance session and organised online activities and competitions during the summer holidays.
When Covid-19 restrictions were relaxed in the summer, we offered outdoor ‘pop-up’ events for small groups in Nottinghamshire, Leicestershire and Northamptonshire, with games for children and young people and an opportunity for families to talk to our support workers.
## Family grants
The charity provided £27,800 of financial support to families in the form of grants, to assist with the hidden costs of caring for a child with cancer.
The PASIC team offered palliative support to families facing the loss of a child, organising fingerprint charms and special shared family experiences from our ‘Making memories’ fund.
‘Compassionate’ grants amounting to £9,000 were provided to 12 bereaved families, to help with funeral costs.
## Operations
The trustees and CEO have further streamlined the charity’s operations by reviewing procedures, practices and policies. We’ve sought expert guidance from external agencies (such as the Foundation for Social Improvement, the Small Charities Coalition, Nottingham Community and Voluntary Service and Voluntary Action Leicestershire) in these areas. We’ve implemented a more rigorous and regular risk monitoring process, specifically in response to the Covid-19 pandemic. Work has been undertaken to strengthen the board of trustees and we have recently filled a skill gap with the appointment of an experienced charity fundraising professional.
We’ve been supported by over 50 volunteers over the course of the year, who’ve assisted with events, administration and practical jobs. We’re gradually growing and making better use of our base of skilled volunteers from local businesses and universities. Development of our CRM system continues, to enable us to monitor and evaluate data relating to families and support activities more effectively and to widen our supporter base.
Page 04
**PASIC TRUSTEES’ REPORT For the year ended 31 August 2020**
The charity is aware of the need to raise the profile of PASIC in local communities and across the region, with an emphasis on Leicestershire. We’ve continued to raise awareness across a range of social media platforms and have plans to extend this more widely. New business supporters have come to us through our website, leading to a number of ‘charity of the year’ partnerships and offers of support.
Following a period of consolidation, the trustees and CEO are now focussing on developing a series of objective and strategic plans, to guide PASIC over the next few years. As a charity, we feel more resilient and better placed to respond to the changing needs of our families following the Covid-19 pandemic, but we remain conscious of the need to diversify our income streams and develop a long-term fundraising plan, to ensure future sustainability.
## **Financial review**
The year ended 31 August 2020 was a highly successful one for fundraising, with PASIC generating income of £264,670, a 57% increase on the previous year. This growth was driven by a doubling in grant income and the third PASIC Ball in November 2019, with staff and 25 volunteers helping to raise a net £20,211.
Total expenditure on charitable activities fell by 18% to £145,159, due to an inability to organise our usual schedule of family events and activities from March 2020, as a result of the Covid-19 pandemic.
The charity recorded net income of £83,170 and is in a strong position financially, with total funds of £192,698 at 31 August 2020.
## Reserves
Reserves are the element of the charity’s unrestricted funds, freely available to spend on any of its purposes. Reserves exclude tangible fixed assets used in an ongoing capacity to carry out the charity’s activities and any designated funds, which have been set aside by the trustees for a specific purpose.
As PASIC depends entirely on voluntary funding, sufficient reserves must be maintained to ensure sustainability and the continuance of the charity’s activities for a defined period of time, in the event of unforeseen financial difficulties. In establishing a reserves policy, the trustees attempt to balance the needs of current beneficiaries against future ones, choosing a level of reserves low enough to ensure that resources aren’t tied up unnecessarily, but high enough to minimise the risk of serious disruption to the charity’s work.
To provide assurances to the families we support and job security for our employees, the trustees consider it appropriate to hold reserves of £75,000, equivalent to 6 months’ core operating expenditure.
The charity’s reserves policy is actively monitored by the trustees. Whilst restricted funds fall outside the definition of reserves, the amount and nature of such funds is taken into consideration when reviewing.
The charity’s reserves at 31 August 2020 were £123,970 (2019: £87,956).
The trustees anticipate that the next couple of financial years will be particularly challenging with respect to raising income, due to the economic impact of the Covid-19 pandemic. It is expected that reserves will naturally fall towards the desired level over this period, without any action being required.
Page 05
**PASIC TRUSTEES’ REPORT For the year ended 31 August 2020**
## **Statement of trustees’ responsibilities**
The trustees are responsible for preparing their annual report and the financial statements of the charity in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and 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 apply them consistently
- Observe the methods and principles in the Charities SORP
- Make judgments and estimates that are reasonable and prudent
- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements
- Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business
The trustees are responsible for maintaining proper accounting records which 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 and the Charities (Accounts and Reports) Regulations 2008. 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 on 10 March 2021 and signed on their behalf by:
**Mark Roper** Trustee & Treasurer
Page 06
PASIC
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PASIC
For th9 year ended 31 August 2020
I report to the trustees on my examination of the account$ of PASIC Ilhe charity) for the year ended 31 August
2020.
Re8ponslbllltles and basi$ of Trport
As the trustees of the charity, YOL* are respKinsible for the preparation of the accounts in accordance wth the
roquirements of the Charities Act 20111'lhe Act'l.
I report in respect of my examination of the charrty's accounts carried out under section 145 of the 2011 Act and In
carrying out my examination I have followed all the applicable direciions given by the Charity Commission under
sectson 145151{bl of the Act.
Independent examlner's statement
Since the charity's gnjss income exceeded £250,000, YOUT examiner musl be a member of a body listed in section
145 of the 2011 Act. I confirm that l am qualified lo undertake the examination because l am a member and Fellow
of the ASs(latIon of Chanty Independent Examiners, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have Come to my attentson in connection with the
examination giving me cause to believe that in any material respect..
Accounting (X)rS were not kept in respect of the charity as required by section 130 of the Act,. or
The accounts do not accord with those records., or
The accounts do not comply with the accounting requirements concernino the form and wnlent of
accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement
that the accounts give a 'lrue and fair, view which is not a matter considered as part of an independent
examination.
I have no concems and have come across no other matters in nnectIOn with the examination lo which attention
Should be drawn in this report in order to enable a proper understanding of the accounts tr) bg reached.
John O'Brien M&ThCCKFCIE
Employee of Community Accounting Plus
Fellow of Ihe Ass(Kialion of Charity Independent Examiners
Units 1 and 2, Northwest
41 Talbot Street
Nottingham
NG15GL
Dale..
Page 07
**PASIC**
**STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 August 2020**
|||Unrestricted|Restricted|**Total**|Total|
|---|---|---|---|---|---|
|||funds|funds|**funds**|funds|
|||2020|2020|**2020**|2019|
||Note|£|£|**£**|£|
|**Income from:**||||||
|Donations and legacies||124,785|106,934|**231,719**|167,205|
|Other trading activities||31,052|-|**31,052**|-|
|Investments||216|-|**216**|453|
|Other||1,683|-|**1,683**|1,398|
|||____________|____________|____________|____________|
|**Total income**|02|157,736|106,934|**264,670**|169,056|
|||____________|____________|____________|____________|
|**Expenditure on:**||||||
|Charitable activities||||||
|Family support||33,406|24,280|**57,686**|50,770|
|Family events and activities||13,455|32,001|**45,456**|81,098|
|Family grants|05|38,817|3,200|**42,017**|45,843|
|||____________|____________|____________|____________|
|Total expenditure on charitable activities||85,678|59,481|**145,159**|177,711|
|||____________|____________|____________|____________|
|Raising funds||||||
|Seeking grants and donations||15,922|-|**15,922**|15,994|
|Fundraising events||20,419|-|**20,419**|-|
|||____________|____________|____________|____________|
|Total expenditure on raising funds||36,341|-|**36,341**|15,994|
|||____________|____________|____________|____________|
|||____________|____________|____________|____________|
|**Total expenditure**|03|122,019|59,481|**181,500**|193,705|
|||____________|____________|____________|____________|
|**Net income/(expenditure)**||35,717|47,453|**83,170**|(24,649)|
|Transfers between funds|12|2,111|(2,111)|**-**|-|
|||____________|____________|____________|____________|
|**Net movement in funds**||37,828|45,342|**83,170**|(24,649)|
|Total funds brought forward|12|88,275|21,253|**109,528**|134,177|
|||____________|____________|____________|____________|
|**Total funds carried forward**|12|126,103|66,595|**192,698**|109,528|
|||____________|____________|____________|____________|
_The notes on pages 11 to 22 form part of these financial statements._
Page 08
**PASIC BALANCE SHEET As at 31 August 2020**
|||**2020**|**2020**|2019|2019|
|---|---|---|---|---|---|
||Note|**£**|**£**|£|£|
|**Fixed assets**||||||
|Tangible assets|09||**2,133**||319|
|**Current assets**||||||
|Debtors|10|**33,176**||30,300||
|Cash at bank and in hand||**159,982**||80,569||
|||____________||____________||
|||**193,158**||110,869||
|**Current liabilities**||||||
|Creditors: amounts falling due within one year|11|**(2,593)**||(1,660)||
|||____________||____________||
|Net current assets|||**190,565**||109,209|
||||____________||____________|
|**Net assets**|||**192,698**||109,528|
||||____________||____________|
|**The funds of the charity**||||||
|Unrestricted funds|12||**126,103**||88,275|
|Restricted funds|12||**66,595**||21,253|
||||____________||____________|
|**Total charity funds**|12||**192,698**||109,528|
||||____________||____________|
Approved by the trustees on 10 March 2021 and signed on their behalf by:
**Mark Roper** Trustee & Treasurer
_The notes on pages 11 to 22 form part of these financial statements._
Page 09
**PASIC**
**STATEMENT OF CASH FLOWS For the year ended 31 August 2020**
||**2020**|2019|
|---|---|---|
||**£**|£|
|**Cash flows from operating activities**|||
|Net income/(expenditure) for the year {as per the Statement of financial activities}|**83,170**|(24,649)|
|Bank interest|**(216)**|(453)|
|Depreciation charge|**407**|202|
|(Increase)/decrease in debtors|**(2,876)**|-|
|Increase/(decrease) in creditors|**933**|(1,427)|
||____________|____________|
|Net cash provided by/(used in) operating activities|**81,418**|(26,327)|
||____________|____________|
|**Cash flows from investing activities**|||
|Bank interest|**216**|453|
|Purchase of tangible fixed assets|**(2,221)**|-|
||____________|____________|
|Net cash (used in)/provided by investing activities|**(2,005)**|453|
||____________|____________|
|**Change in cash and cash equivalents in the year**|**79,413**|(25,874)|
|Cash and cash equivalents brought forward|**80,569**|106,443|
||____________|____________|
|**Cash and cash equivalents carried forward**|**159,982**|80,569|
||____________|____________|
_An analysis of the components of cash and cash equivalents has not been presented as carried forward balances correspond to the amounts described as ‘Cash at bank and in hand’ in the Balance sheet._
_An analysis of changes in net debt has not been presented as the charity has no borrowings._
Page 10
**PASIC**
**NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2020**
## **01 Accounting policies**
## **Basis of preparation**
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 and Republic of Ireland (FRS 102) {Charities SORP (FRS 102), second edition - October 2019, effective 01 January 2019}
- The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)
- The Charities Act 2011
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities preparing their accounts in accordance with FRS 102 rather than the version of the Statement of Recommended Practice referred to in the Regulations, which has since been withdrawn.
Assets and liabilities are initially recognised at historical cost or transaction value, unless otherwise stated.
The preparation of the financial statements requires the trustees to make judgements and assumptions that determine the reported values of assets, liabilities, income and expenditure. The nature of judgement means that actual outcomes could differ from expectation.
The trustees consider that there are no material uncertainties related to events or conditions that cast significant doubt on the charity’s ability to continue in operational existence for the foreseeable future. The financial statements have therefore been prepared on the basis that the charity is a going concern.
PASIC constitutes a public benefit entity as defined by FRS 102.
Since its establishment as a CIO in 2015, the charity has prepared receipts and payments accounts for all financial years up to and including the year ended 31 August 2019, as permitted for non-company charities with a gross income of £250,000 or less.
As the charity’s gross income for the financial year ended 31 August 2020 exceeded £250,000, the trustees have prepared accruals accounts in compliance with the Charities SORP (FRS 102).
Comparative figures included within these financial statements have been prepared on a consistent basis.
Reconciliations of amounts reported in the charity’s receipts and payments accounts for the year ended 31 August 2019 to those comparative figures stated in these financial statements are provided in note 18.
## **Fund accounting**
Funds is a legal term for the money and other assets held by the charity on trust.
Fund accounting distinguishes between two primary classes of fund, those which are unrestricted in their use and those which are restricted. Each class of fund has unique characteristics in trust law.
Unrestricted funds are available to be applied or spent at the discretion of the trustees, to further any of the charity’s purposes.
Restricted funds can only be lawfully used for a specific charitable purpose, as declared by the donor when making the gift. The assets of each restricted fund are held and maintained separately from other funds.
Page 11
**PASIC NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2020**
## **01 Accounting policies** (continued)
## **Income**
Income is the inflow of resources to the charity from the activities it undertakes. It is analysed according to the activity that produced the resources.
The charity’s main source of income comes from non-exchange monetary transactions (gifts), including cash donations, grants and legacies, which are given freely to the charity. The essential feature of such income is that the charity receives value from the donor without providing equal value in exchange. The donor doesn’t receive any significant benefit in return for their gift, other than the assurance that it will be used to further the charity’s purposes.
Income from such transactions is recognised by the charity when there is evidence of unconditional entitlement, receipt is probable and the amount can be measured reliably.
For donations, entitlement usually arises immediately on receipt. For grants, evidence of entitlement usually exists when the formal offer of funding is communicated in writing to the charity.
For multi-period grants, to be paid to the charity on the basis of agreed annual budgets, income for each specified period is recognised by the charity at the start of the corresponding budgeted year, when it becomes entitled to spend that period’s allocation.
For legacies, receipt is normally probable when there has been a grant of probate and the executors have established that there are sufficient assets in the estate to pay the legacy.
The charity also raises income from organised fundraising events, such as the biennial PASIC Ball. Entitlement to income arises on conclusion of the event (the provision of goods) and income is recognised once the amount can be measured reliably and receipt is probable. Income and related expenditure from fundraising events are reported gross in the Statement of financial activities.
## **Donated goods, facilities and services**
The Charities SORP (FRS 102) requires goods, facilities and services donated to the charity to be reflected in the Statement of financial activities as income (subject to the recognition criteria below), as they provide a resource for use by the charity to further its aims and objectives.
Such donations are recognised as income (with an equivalent amount recorded as an expense under the appropriate heading in the Statement of financial activities), when there is evidence of unconditional entitlement, receipt is probable and the fair value or value to the charity of the donated item can be measured reliably.
Goods donated to the charity for its own use are measured at fair value and recognised as income when received. Goods donated to the charity for distribution to its beneficiaries are measured at fair value and recognised as income when distributed. The trustees consider that the costs involved in determining the value of donated items held for distribution and recognising such items as stock, far outweigh the benefit to users of the financial statements and to the charity.
Facilities and services donated to the charity for its own use, which would otherwise have been purchased, are recognised as income when received. Donated facilities and services are measured on the basis of the value of the gift to the charity, which is the amount the charity would pay in the open market for an alternative item that would provide a benefit equivalent to the donated item.
The charity relies on the support of unpaid general volunteers in carrying out its activities but given the absence of a reliable measurement basis for accounting purposes, the Charities SORP (FRS 102) prohibits their contribution from being recognised as income.
Page 12
**PASIC**
**NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2020**
## **01 Accounting policies** (continued)
## **Expenditure and liabilities**
Expenditure is the amount of the charity’s resources which has been spent or otherwise used up in carrying out its activities.
Liabilities are amounts due to creditors which arise from legal or constructive obligations that commit the charity to expenditure.
A liability and related expenditure are recognised by the charity when a present legal or constructive obligation exists at the reporting date as a result of a past event, it is probable that settlement will be required and the amount of the obligation can be measured or estimated reliably.
Liabilities are measured on recognition at historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.
## **Cost allocation**
The charity prepares its Statement of financial activities on an activity basis. Expenditure is analysed by the nature of the activities undertaken, to demonstrate how the charity has used its resources to further its charitable aims for the public benefit. The charity distinguishes between expenditure on charitable activities and expenditure on raising funds. Further analysis of the significant activities included within these two categories is provided on the face of the Statement of financial activities.
Reported expenditure for each activity is calculated on a full cost basis. All direct and shared costs attributable to the activity are captured, with an appropriate apportionment of support costs included.
Direct costs, associated with a single activity, are allocated to that activity.
Shared costs, which contribute directly to more than one activity, are apportioned between those activities on a reasonable, justifiable and consistent basis. Where staff duties span two or more activities, costs are allocated based on time.
Support costs are those central costs incurred to facilitate the charity’s work, which are not directly attributable to individual activities. They include functions such as general management, administration, information technology and governance. Support costs are apportioned across activities in proportion to the total direct and shared costs of each activity.
Governance costs form part of support costs. They include costs associated with constitutional and statutory requirements (such as the independent examination of the financial statements and the cost of trustee meetings) and the strategic (as opposed to day-to-day) management of the charity’s activities.
## **Pension scheme**
Employees of the charity are entitled to join a defined contribution workplace pension scheme, provided by the National Employment Savings Trust (NEST).
The charity pays a fixed percentage of each employee’s monthly qualifying earnings into the scheme for the period that the employee is with the charity. The charity has no legal or constructive duty beyond making its own contributions and paying across the deductions for the employee contributions. It is under no further obligation to make any additional payments, irrespective of how the scheme performs.
Pension costs are allocated to activities and between funds on the same basis as other employee related costs.
Total employer pension contributions for the financial year are disclosed in note 06.
Page 13
**PASIC**
**NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2020**
## **01 Accounting policies** (continued)
## **Grant payments**
The charity makes voluntary payments in furtherance of its charitable aims, for the direct benefit of families of children and young people with cancer.
Grant payments are unconditional and are recognised as an expense on approval.
## **Tangible fixed assets and depreciation**
Tangible fixed assets provide an ongoing economic benefit to the charity and are stated at cost, net of depreciation and any provision for impairment.
Depreciation is calculated to write off the cost of tangible fixed assets over their expected useful lives as follows:
Computers 3 years on a straight-line basis
All tangible fixed assets costing £250 or more are capitalised.
## **Financial instruments**
A financial instrument is a contract which gives rise to a financial asset of one entity and a financial liability of another entity.
A financial asset represents financial resources available to the charity and examples include debtors and cash. A financial liability is a financial claim on the charity’s resources and examples include creditors and legal or constructive obligations.
The charity only has basic financial instruments. These are measured on initial recognition at the amount receivable or payable and then subsequently measured at their expected settlement amount. Financial assets are reviewed for impairment at each reporting date.
## **Debtors**
Debtors include amounts owed to the charity for the provision of goods, amounts the charity has paid in advance for the goods and services it will receive and amounts receivable on grant funding to which the charity is entitled (accrued income).
Debtors are measured at their recoverable amounts.
## **Cash at bank and in hand**
Cash at bank and in hand is held to meet short-term cash commitments as they fall due. It includes cash equivalents which are short-term, highly liquid investments, readily convertible to known amounts of cash.
Page 14
**PASIC**
**NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2020**
## **02 Income**
||||Unrestricted|Restricted|**Total**|Total|
|---|---|---|---|---|---|---|
||||funds|funds|**funds**|funds|
||||2020|2020|**2020**|2019|
||||£|£|**£**|£|
||**Donations and legacies**||||||
||Donations||83,199|-|**83,199**|87,240|
||Grants||19,400|106,934|**126,334**|64,050|
||Donated goods, facilities and services||22,186|-|**22,186**|15,915|
||||____________|____________|____________|____________|
||Total income from donations and legacies||124,785|106,934|**231,719**|167,205|
||**Other trading activities**||||||
||Fundraising events||31,052|-|**31,052**|-|
||**Investments**||||||
||Bank interest||216|-|**216**|453|
||**Other**||1,683|-|**1,683**|1,398|
||||____________|____________|____________|____________|
||**Total income**||157,736|106,934|**264,670**|169,056|
||||____________|____________|____________|____________|
|**03**|**Expenditure**||||||
|||Direct|Shared|Support|||
|||costs|costs|costs|**Total**|Total|
|||2020|2020|2020|**2020**|2019|
|||£|£|£|**£**|£|
||**Charitable activities**||||||
||Family support|44,099|11,747|1,840|**57,686**|50,770|
||Family events and activities|33,741|10,563|1,152|**45,456**|81,098|
||Family grants|38,875|1,753|1,389|**42,017**|45,843|
|||____________|
____________|____________|____________|____________|
||Total expenditure on charitable activities|116,715|24,063|4,381|**145,159**|177,711|
|||____________|
____________|____________|____________|____________|
||**Raising funds**||||||
||Seeking grants and donations|3,118|12,278|526|**15,922**|15,994|
||Fundraising events|18,000|2,061|358|**20,419**|-|
|||____________|
____________|____________|____________|____________|
||Total expenditure on raising funds|21,118|14,339|884|**36,341**|15,994|
|||____________|
____________|____________|____________|____________|
|||____________|
____________|____________|____________|____________|
||**Total expenditure**|137,833|38,402|5,265|**181,500**|193,705|
|||____________|
____________|____________|____________|____________|
Page 15
**PASIC**
**NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2020**
## **04 Support costs**
|||Management|Overheads|Governance|**Total**|Total|
|---|---|---|---|---|---|---|
|||2020|2020|2020|**2020**|2019|
|||£|£|£|**£**|£|
||Charitable activities|1,478|1,647|1,256|**4,381**|4,775|
||Raising funds|298|332|254|**884**|472|
|||____________|____________|
____________|____________|____________|
|||1,776|1,979|1,510|**5,265**|5,247|
|||____________|____________|
____________|____________|____________|
|**05**|**Family grants**||||||
||||||**2020**|2019|
||||||**£**|£|
||**Grants paid to individuals**||||||
||Living costs and travel expenses||||**27,800**|26,800|
||Making memories||||**2,075**|1,055|
||Compassionate||||**9,000**|15,000|
||||||____________|____________|
||||||**38,875**|42,855|
||Shared costs||||**1,753**|1,635|
||Support costs||||**1,389**|1,353|
||||||____________|____________|
||||||**42,017**|45,843|
||||||____________|____________|
|**06**|**Staff costs**||||||
||||||**2020**|2019|
||||||**£**|£|
||Wages and salaries||||**69,848**|64,371|
||Social security costs||||**1,514**|959|
||Pension contributions||||**1,373**|973|
||||||____________|____________|
||||||**72,735**|66,303|
||||||____________|____________|
The average number of part-time employees during the year was 4 (2019: 4). Calculated on a full-time equivalent basis, the average number of employees during the year was 3 (2019: 3).
No employee received remuneration amounting to more than £60,000 in either financial year.
Remuneration payable to key management personnel was £22,654 (2019: £17,676).
## **07 Trustees’ remuneration and expenses**
No trustee received remuneration or expenses from the charity in either financial year.
Page 16
**PASIC**
**NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2020**
|**08**|**Net income/(expenditure)**|||
|---|---|---|---|
|||**2020**|2019|
|||**£**|£|
||Net income/(expenditure) for the year is stated after charging:|||
||Independent examiner’s remuneration for examination of the accounts|**480**|420|
||Independent examiner’s remuneration for accountancy services|**-**|240|
|||____________|____________|
|**09**|**Tangible fixed assets**|||
||||**Computers**|
||||**£**|
||**Cost**|||
||At 01 September 2019||605|
||Additions||2,221|
||Disposals||-|
||||____________|
||**At 31 August 2020**||**2,826**|
||||____________|
||**Depreciation**|||
||At 01 September 2019||286|
||Charge for the year||407|
||Disposals||-|
||||____________|
||**At 31 August 2020**||**693**|
||||____________|
||**Net book value**|||
||**At 31 August 2020**||**2,133**|
||||____________|
||At 31 August 2019||319|
||||____________|
|**10**|**Debtors**|||
|||**2020**|2019|
|||**£**|£|
||Prepayments|**-**|300|
||Accrued income (Amounts receivable on grant funding)|**33,176**|30,000|
|||____________|____________|
|||**33,176**|30,300|
|||____________|____________|
Page 17
**PASIC**
**NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2020**
## **11 Creditors: amounts falling due within one year**
||**2020**|2019|
|---|---|---|
||**£**|£|
|Taxation and social security|**1,663**|580|
|Other creditors|**50**|420|
|Accruals|**880**|660|
||____________|____________|
||**2,593**|1,660|
||____________|____________|
## **12 Statement of funds**
||Balance at||||**Balance at**|
|---|---|---|---|---|---|
||01 Sep||||**31 Aug**|
||2019|Income|Expenditure|Transfers|**2020**|
||£|£|£|£|**£**|
|**Restricted funds**||||||
|Bauer Radio’s Cash for Kids Charities|-|9,835|(8,410)|-|**1,425**|
|BBC Children in Need (1)|21,253|30,000|(21,686)|-|**29,567**|
|BBC Children in Need (2)|-|3,176|(94)|-|**3,082**|
|J N Derbyshire Trust|-|3,000|(1,250)|-|**1,750**|
|Leicestershire County Council|-|1,967|(1,967)|-|**-**|
|Nottinghamshire County Council|-|800|(800)|-|**-**|
|Star Trust (East Midlands) Ltd|-|10,000|(6,667)|-|**3,333**|
|The Clothworkers’ Foundation|-|850|(95)|(674)|**81**|
|The Jones 1986 Charitable Trust|-|5,000|(1,667)|-|**3,333**|
|The National Lottery Community Fund (1)|-|20,993|(10,528)|(688)|**9,777**|
|The National Lottery Community Fund (2)|-|9,994|(2,824)|-|**7,170**|
|The National Lottery Community Fund (3)|-|4,319|(1,410)|(749)|**2,160**|
|The Thomas Farr Charity|-|2,000|(333)|-|**1,667**|
|Toyota Manufacturing UK Charitable Trust|-|5,000|(1,750)|-|**3,250**|
||____________|____________|
____________|____________|____________|
|Total restricted funds|21,253|106,934|(59,481)|(2,111)|**66,595**|
|**Unrestricted funds**|88,275|157,736|(122,019)|2,111|**126,103**|
||____________|____________|
____________|____________|____________|
|**Total funds**|109,528|264,670|(181,500)|-|**192,698**|
||____________|____________|
____________|____________|____________|
Page 18
**PASIC NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2020**
## **12 Statement of funds** (continued)
Details of restricted funds are as follows:
Bauer Radio’s Cash for Kids Charities BBC Children in Need (1) BBC Children in Need (2) J N Derbyshire Trust Leicestershire County Council Nottinghamshire County Council Star Trust (East Midlands) Ltd The Clothworkers’ Foundation The Jones 1986 Charitable Trust
The National Lottery Community Fund (1) The National Lottery Community Fund (2) The National Lottery Community Fund (3) The Thomas Farr Charity Toyota Manufacturing UK Charitable Trust
Supporting families (Covid-19) Family events and activities Supporting families (Covid-19)
Part funding of Nottingham Family Support Worker role Supporting families (Covid-19) Supporting families (Covid-19) Part funding of Nottingham Family Support Worker role Computer equipment
Part funding of Nottingham Family Support Worker role Funding of Leicester Family Support Worker role Family events and activities Supporting families (Covid-19)
Part funding of Nottingham Family Support Worker role Family events and activities within the Burnaston area
Transfers to unrestricted funds relate to fixed assets purchased from restricted funds which are held for general purposes.
## **13 Analysis of assets and liabilities between funds**
||Unrestricted|Restricted|**Total**|
|---|---|---|---|
||funds|funds|**funds**|
||2020|2020|**2020**|
||£|£|**£**|
|Tangible fixed assets|2,133|-|**2,133**|
|Current assets|126,563|66,595|**193,158**|
|Current liabilities|(2,593)|-|**(2,593)**|
||____________|____________|____________|
|**Net assets**|126,103|66,595|**192,698**|
||____________|____________|____________|
## **14 Related party transactions**
There were no related party transactions requiring disclosure in either financial year.
Page 19
**PASIC**
**NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2020**
## **15 Prior year: Statement of financial activities**
|||Unrestricted|Restricted|**Total**|
|---|---|---|---|---|
|||funds|funds|**funds**|
|||2019|2019|**2019**|
||Note|£|£|**£**|
|**Income from:**|||||
|Donations and legacies||127,205|40,000|**167,205**|
|Other trading activities||-|-|**-**|
|Investments||453|-|**453**|
|Other||1,398|-|**1,398**|
|||____________|____________|____________|
|**Total income**||129,056|40,000|**169,056**|
|||____________|____________|____________|
|**Expenditure on:**|||||
|Charitable activities|||||
|Family support||31,665|19,105|**50,770**|
|Family events and activities||52,889|28,209|**81,098**|
|Family grants||45,843|-|**45,843**|
|||____________|____________|____________|
|Total expenditure on charitable activities||130,397|47,314|**177,711**|
|||____________|____________|____________|
|Raising funds|||||
|Seeking grants and donations||15,994|-|**15,994**|
|Fundraising events||-|-|**-**|
|||____________|____________|____________|
|Total expenditure on raising funds||15,994|-|**15,994**|
|||____________|____________|____________|
|||____________|____________|____________|
|**Total expenditure**||146,391|47,314|**193,705**|
|||____________|____________|____________|
|**Net income/(expenditure)**||(17,335)|(7,314)|**(24,649)**|
|Transfers between funds||-|-|**-**|
|||____________|____________|____________|
|**Net movement in funds**||(17,335)|(7,314)|**(24,649)**|
|Total funds brought forward|16|105,610|28,567|**134,177**|
|||____________|____________|____________|
|**Total funds carried forward**|16|88,275|21,253|**109,528**|
|||____________|____________|____________|
Page 20
**PASIC**
**NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2020**
## **16 Prior year: Statement of funds**
||Balance at||||**Balance at**|
|---|---|---|---|---|---|
||01 Sep||||**31 Aug**|
||2018|Income Expenditure||Transfers|**2019**|
||£|£|£|£|**£**|
|**Restricted funds**||||||
|BBC Children in Need|19,462|30,000|(28,209)|-|**21,253**|
|Boots Charitable Trust|-|10,000|(10,000)|-|**-**|
|Global Charities|9,105|-|(9,105)|-|**-**|
||____________|____________|____________|____________|____________|
|Total restricted funds|28,567|40,000|(47,314)|-|**21,253**|
|**Unrestricted funds**|105,610|129,056|(146,391)|-|**88,275**|
||____________|____________|____________|____________|____________|
|**Total funds**|134,177|169,056|(193,705)|-|**109,528**|
||____________|____________|____________|____________|____________|
|Details of restricted funds are as follows:||||||
|BBC Children in Need|Family events and activities|||||
|Boots Charitable Trust|Part funding of Nottingham Family Support Worker role|||||
|Global Charities|Part funding of Leicester Family Support|||Worker role||
## **17 Prior year: Analysis of assets and liabilities between funds**
||Unrestricted|Restricted|**Total**|
|---|---|---|---|
||funds|funds|**funds**|
||2019|2019|**2019**|
||£|£|**£**|
|Tangible fixed assets|319|-|**319**|
|Current assets|89,616|21,253|**110,869**|
|Current liabilities|(1,660)|-|**(1,660)**|
||____________|____________|____________|
|**Net assets**|88,275|21,253|**109,528**|
||____________|____________|____________|
Page 21
**PASIC NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2020**
## **18 Transition from preparing receipts and payments accounts to preparing accruals accounts in compliance with the Charities SORP (FRS 102)**
Since its establishment as a CIO in 2015, the charity has prepared receipts and payments accounts for all financial years up to and including the year ended 31 August 2019, as permitted for non-company charities with a gross income of £250,000 or less.
As the charity’s gross income for the financial year ended 31 August 2020 exceeded £250,000, the trustees have prepared accruals accounts in compliance with the Charities SORP (FRS 102).
Comparative figures included within these financial statements have been prepared on a consistent basis.
Reconciliations of amounts reported in the charity’s receipts and payments accounts for the year ended 31 August 2019 to those comparative figures stated in these financial statements are provided below:
|**Net income/(expenditure) for the year ended 31 August 2019**|£|
|---|---|
|As reported in receipts and payments accounts|(25,874)|
|Donations and legacies: Income entitlement at 31 August 2019 (Accrued income)|30,000|
|Donations and legacies: Income entitlement at 31 August 2018 (Accrued income)|(30,000)|
|Decrease in creditors|1,427|
|Depreciation charge|(202)|
||____________|
||(24,649)|
||____________|
|**Total funds at 31 August 2019**|£|
|As reported in receipts and payments accounts|79,209|
|Donations and legacies: Income entitlement at 31 August 2019 (Accrued income)|30,000|
|Tangible fixed assets: Net book value|319|
||____________|
||109,528|
||____________|
|**Total funds at 31 August 2018**|£|
|As reported in receipts and payments accounts|103,656|
|Donations and legacies: Income entitlement at 31 August 2018 (Accrued income)|30,000|
|Tangible fixed assets: Net book value|521|
||____________|
||134,177|
||____________|
Page 22
**PASIC ANNUAL REPORT & FINANCIAL STATEMENTS For the year ended 31 August 2020**
## **Thank you**
Our work to ensure that no East Midlands family faces childhood cancer alone is only possible because of the continued generosity and commitment of our supporters.
We would like to express our sincere thanks to all those who supported PASIC during this financial year:
## _**Trusts, Foundations and Grantmakers**_
Bauer Radio’s Cash for Kids Charities BBC Children in Need Dunn Family Charitable Trust J N Derbyshire Trust Leicestershire County Council Martin Lewis Coronavirus Emergency Fund Masonic Charitable Foundation Nottinghamshire County Council Star Trust (East Midlands) Ltd The Clothworkers’ Foundation The Greggs Foundation The Jones 1986 Charitable Trust The National Lottery Community Fund The Thomas Farr Charity Toyota Manufacturing UK Charitable Trust Warburtons Families Matter
THANK YOU!
_**Companies, Organisations & Individuals** (including but not limited to)_
Andy Whitt Boots Catalent Crowne Plaza East Midlands Property Dinner Great Central Railway HSBC Kier Construction Lloyds Bank McCallan Marketing Mellors Group Nottingham Girls’ High School Sainsbury’s Sophie Angell and her family Stirland Paterson Group TDX Group The Big Yellow Self Storage Company The Rotary Club of Long Eaton Dawnbreakers The Village Ladies Tozer Dance Studios UHY Hacker Young White Stuff Foundation
_**Our employees, whose willingness to support our families in challenging times is second to none**_
_**Our volunteers, who kindly offer their time and skills in support of our beneficiaries**_
Page 23