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2021-08-31-accounts

ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

PASIC Registered Charity 1163662

www.pasic.org.uk

PASIC ANNUAL REPORT & FINANCIAL STATEMENTS For the year ended 31 August 2021

Contents Page
Trustees’ report 01
Independent examiner’s report 08
Statement of financial activities 09
Balance sheet 10
Statement of cash flows 11
Notes to the financial statements 12
Thank you 24

PASIC TRUSTEES’ REPORT For the year ended 31 August 2021

The trustees present their annual report and the financial statements of the charity for the year ended 31 August 2021.

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 Mark Rye (Chair)
Anoushka Akins (Vice-Chair)
Margaret Parr (Lead Nurse, EMCYPICS)
Lynne Farrage
Andrew Ball
Amanda Whateley [appointed September 2021]
Simaran Johal [appointed November 2021]
Other trustees who served during the financial year Mark Roper [resigned November 2021]
Paul Burrows [resigned February 2021]
Treasurer Mark Roper

Page 01

PASIC TRUSTEES’ REPORT For the year ended 31 August 2021

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 five staff, seven trustees and around 40 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:

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:

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 2021

Achievements and performance

The number of families supported by PASIC continues to grow. We’ve offered additional remote support, initially introduced during the COVID-19 pandemic, which has resulted in an increased number of families supported in Leicestershire and Northamptonshire for a second successive year. We’ve built on successful initiatives to reach more families living further afield, in the far corners of our region.

We currently support 442 families, a total of over 800 disadvantaged children and young people, including siblings. 72 of these families live in Northamptonshire, our highest number to date.

Family support

Our well-established Family Support Worker at Nottingham Children’s Hospital has remained a constant support four days a week throughout the pandemic.

PASIC’s Family Support Worker role at Leicester Children’s Hospital is now in its fifth year and we are grateful to The National Lottery Community Fund for continuing to fund this post. Our Leicester Family Support Worker also holds an honorary contract with the Northampton General Hospital NHS Trust, which enables them to offer support to families in their paediatric oncology clinics.

We’ve overcome challenges posed by the ongoing pandemic, with our Family Support Workers being essential to fill the gaps created by ward visitor restrictions. Continuing lockdowns have meant we’ve had to work flexibly to adapt our support services for families, many of whom were already vulnerable and isolated. Our Family Support Workers have increased their use of technology to deliver a high level of remote support to families and we continue to develop this.

We’ve continued to offer practical help and respite as needs arise, organising wellbeing and care items for families and creating ‘film night’ and activity packs. We’ve funded a total of £6,645 in supermarket vouchers for families at financial breaking point, many of whom have given up work to care for their child. We are grateful to those organisations that provided us with additional COVID-19 response funding (thanks in particular to The National Lottery Community Fund and The Rank Foundation), which enabled us to increase support to those families most in need.

Our Family Support Workers have provided a blend of face-to-face support on the children’s oncology wards and remote support, offering advice, signposting and a friendly ear on the end of the phone. We’ve acted on feedback (including responses to our Family Support survey in May 2021) to ensure our services continue to meet the growing and varying needs of our beneficiaries. We keep in touch with families through regular emails, calls, online meetings and a WhatsApp group for parents and carers of post-treatment children.

We’ve built on existing links with other charities who offer support to young people with cancer and in May 2021, PASIC joined the UK-wide Children and Young People’s Cancer Coalition. This CEO-led body of nearly 50 charities meets on a regular basis with a common aim to amplify the voices of these children and young people and their families. We work collectively to ensure they access the best possible care and support throughout their experience of cancer and across healthcare settings.

On a daily basis we’ve continued to work with Young Lives vs Cancer (the operating name of CLIC Sargent Cancer Care for Children), the Teenage Cancer Trust, the Macmillan Cancer Support nursing teams and healthcare professionals within the NHS. We are increasingly working in partnership with other organisations, to maximise support for families whilst avoiding duplication, be it providing essential items, organising respite breaks and special experiences or other forms of assistance.

We worked with play specialists and therapists at local Nottingham charity The Toy Library, to develop and distribute over 300 art therapy packs and outdoor activities for all the family.

We’ve developed our offer of special customised family experiences when a child is on end-of-life treatment as part of our ‘Making memories’ fund. We work creatively to tailor solutions to individual needs, which other organisations aren’t providing. These include helping a 17-year-old patient, with weeks left to live, create memory

Page 03

PASIC TRUSTEES’ REPORT For the year ended 31 August 2021

boxes and voice recordings for each member of her immediate family. She wished to create her own ‘will’ to leave special memories and items in boxes she decorated for her siblings and parents – we made this happen. Seven families facing the loss of a child have also been brought some comfort with silver fingerprint charm keepsakes, cast from their child’s fingerprint as a lasting memory.

During the year, we identified the increasing difficulties being faced by some of the teenagers we support. COVID19 had brought further isolation and distress, at a time in their lives when being with friends and growing independence are so important. Our Family Support Workers responded by creating ‘pick-me-up packs’, tailored parcels containing special treats, designed to lift their spirits.

We’ve introduced Mood Bears this year for young patients and siblings struggling to cope emotionally, to give them someone to talk to and cuddle. Bears have provided much comfort to children in hospital with no visitors and separated siblings.

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.

In May 2021, 71 families completed our Family Support survey, with 92% of families saying that PASIC has helped them spend quality time together as a family and 88% saying PASIC has helped reduce stress and anxiety.

Family events and activities

We are grateful to BBC Children in Need for their continued funding, which has enabled us to run a programme of events and activities for those affected by childhood cancer, to increase fun in their lives.

In September 2020, we responded to growing family confidence and more relaxed restrictions to offer face-toface outings. In total, 315 children and young people and parents and carers enjoyed fun filled days out at Yorkshire Wildlife Park and Twycross Zoo. We made the decision for our first activities since the start of the pandemic to be outdoors, taking care to follow guidelines. Families, who had been facing additional anxieties due to COVID-19, were reassured by the measures we took.

Despite restrictions at Christmas, we distributed presents and selection boxes to families, where possible. We’re grateful to Bauer Radio’s Cash for Kids Charities for their support once again. With their help and working with local supermarkets, we provided Christmas for two families struggling to make ends meet and facing the pressures of intensive hospital treatment.

In March 2021, with the COVID-19 pandemic impacting on our ability to organise events, we distributed 180 art therapy packs to young people with cancer, at home and in hospital. Such activities offer much more than an ‘offthe-shelf’ craft pack and provide a broad range of fun and creative things to do, tailored to the interests of the young person to help stimulate and improve mental health.

In response to the continuing restrictions, we provided 122 outdoor packs to families in May 2021, offering fun, exploration and creativity, to encourage young people to get active. 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 organised a group outing for families currently undergoing treatment in July 2021, with 259 people enjoying seeing some of the world’s most beautiful and endangered animals at West Midlands Safari Park. This was followed a few weeks later by a trip to Twycross Zoo for 161 post-treatment family members. Numbers remained buoyant and in line with those on pre-pandemic trips. Feedback showed these activities had a significant impact on reducing isolation, building confidence and in strengthening the family unit.

Page 04

PASIC TRUSTEES’ REPORT For the year ended 31 August 2021

Family grants

The number of families turning to PASIC for financial support has increased in the last 12 months. The charity provided £32,000 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 £13,500 were provided to bereaved families, to help with funeral costs.

We have also signposted families to other organisations able to offer help.

Operations

The trustees and CEO have further streamlined the charity’s operations by reviewing procedures, practices and policies. We’ve strengthened the board of trustees after running a skills audit, recruiting an additional trustee with experience of paediatric healthcare and family support. We’ve implemented a more rigorous and regular risk monitoring process, specifically in response to the COVID-19 pandemic.

The board was pleased to receive news in September 2020 that PASIC had been awarded a place on the Pilotlight Programme, a 10-month coaching and mentoring project which matches charity leaders with small teams of businesspeople. By working closely with the charity, the programme aims to strengthen leadership, confidence and resilience, enabling them to move their organisation to the next stage in its development. The programme commenced in November 2020 with objectives focusing on developing a strategic plan to ensure sustainability and supporter engagement. To date, we are seeing the benefits of this, in both the leadership of PASIC and the effectiveness of the board. The trustees are grateful to the Garfield Weston Foundation and to Pilotlight for giving us the opportunity to engage in this programme.

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.

In January 2021, PASIC recruited its first Marketing & Fundraising Officer (and fifth member of staff) thanks to funding from The Rank Foundation’s ‘Time to Shine’ programme. It’s our first post dedicated largely to fundraising and the role focuses on raising the profile of PASIC through the increased use of digital communications. Whilst face-to-face community fundraising has been difficult, we were able to raise money from our first digital campaign, #Forthe400, where supporters took on a challenge incorporating 400, representing the number of families we support. More business supporters have come to us through our website with offers of support, which is in part a result of having a dedicated member of staff to monitor and update content on the PASIC website.

From April to June 2021, the charity was able to further strengthen its fundraising and impact measurement, with a full-time intern on placement from their PhD. The intern, a young cancer survivor and past PASIC beneficiary, made a significant contribution to our operations, including using their scientific and analytical skills to implement an annual set of monitoring procedures.

We’ve been supported by around 40 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 our families and support activities more effectively and to widen our supporter base.

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. In June, a group of Nottingham Trent University Marketing postgraduate students worked on a social media analysis brief for one of their modules.

Page 05

PASIC TRUSTEES’ REPORT For the year ended 31 August 2021

Financial review

The year ended 31 August 2021 proved to be a difficult one for fundraising, with PASIC raising income of £207,752, a 22% reduction on the previous year.

Total expenditure on charitable activities increased by 16% to £168,797, with greater spending on Family support and Family grants, as a result of the COVID-19 pandemic.

The charity recorded net income of £6,709 and is in a strong position financially, with total funds of £199,407 at 31 August 2021.

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 2021 were £112,632 (2020: £123,970).

The trustees anticipate that generating income will continue to be challenging over the next couple of financial years, 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 06

PASIC TRUSTEES’ REPORT For the year ended 31 August 2021

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:

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 31 March 2022 and signed on their behalf by:

Mark Rye Chair of Trustees

Page 07

PASIC INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF PASIC For the year ended 31 August 2021

I report to the trustees on my examination of the accounts of PASIC (the charity) for the year ended 31 August 2021.

Responsibilities and basis of report

As the trustees of the charity, 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 charity’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.

Independent examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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.

John O’Brien MSc FCCA FCIE

Employee of Community Accounting Plus Fellow of the Association of Charity Independent Examiners

Units 1 and 2, Northwest 41 Talbot Street Nottingham NG1 5GL Date:

Page 08

PASIC

STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 August 2021

Unrestricted Restricted Total Total
funds funds funds funds
2021 2021 2021 2020
Note £ £ £ £
Income from:
Donations and legacies 55,633 152,109 207,742 231,719
Other trading activities - - - 31,052
Investments 8 - 8 216
Other 2 - 2 1,683
______ ______ ______ ______
Total income 02 55,643 152,109 207,752 264,670
______ ______ ______ ______
Expenditure on:
Charitable activities
Family support 13,522 60,067 73,589 57,686
Family events and activities 2,372 40,606 42,978 45,456
Family grants 05 43,387 8,843 52,230 42,017
______ ______ ______ ______
Total expenditure on charitable activities 59,281 109,516 168,797 145,159
______ ______ ______ ______
Raising funds
Seeking grants and donations 8,786 23,460 32,246 15,922
Fundraising events - - - 20,419
______ ______ ______ ______
Total expenditure on raising funds 8,786 23,460 32,246 36,341
______ ______ ______ ______
______ ______ ______ ______
Total expenditure 03 68,067 132,976 201,043 181,500
______ ______ ______ ______
Net income/(expenditure) (12,424) 19,133 6,709 83,170
Transfers between funds 12 1,208 (1,208) - -
______ ______ ______ ______
Net movement in funds (11,216) 17,925 6,709 83,170
Total funds brought forward 12 126,103 66,595 192,698 109,528
______ ______ ______ ______
Total funds carried forward 12 114,887 84,520 199,407 192,698
______ ______ ______ ______

The notes on pages 12 to 23 form part of these financial statements.

Page 09

PASIC

BALANCE SHEET As at 31 August 2021

2021 2021 2020 2020
Note £ £ £ £
Fixed assets
Tangible assets 09 2,255 2,133
Current assets
Debtors 10 10,969 33,176
Cash at bank and in hand 193,062 159,982
______ ______
204,031 193,158
Current liabilities
Creditors: amounts falling due within one year 11 (6,879) (2,593)
______ ______
Net current assets 197,152 190,565
______ ______
Net assets 199,407 192,698
______ ______
The funds of the charity
Unrestricted funds 12 114,887 126,103
Restricted funds 12 84,520 66,595
______ ______
Total charity funds 12 199,407 192,698
______ ______

Approved by the trustees on 31 March 2022 and signed on their behalf by:

Mark Rye Chair of Trustees

The notes on pages 12 to 23 form part of these financial statements.

Page 10

PASIC

STATEMENT OF CASH FLOWS For the year ended 31 August 2021

2021 2020
£ £
Cash flows from operating activities
Net income/(expenditure) for the year {as per the Statement of financial activities} 6,709 83,170
Bank interest (8) (216)
Depreciation charge 1,086 407
Decrease/(increase) in debtors 22,207 (2,876)
Increase/(decrease) in creditors 4,286 933
______ ______
Net cash provided by/(used in) operating activities 34,280 81,418
______ ______
Cash flows from investing activities
Bank interest 8 216
Purchase of tangible fixed assets (1,208) (2,221)
______ ______
Net cash (used in)/provided by investing activities (1,200) (2,005)
______ ______
Change in cash and cash equivalents in the year 33,080 79,413
Cash and cash equivalents brought forward 159,982 80,569
______ ______
Cash and cash equivalents carried forward 193,062 159,982
______ ______

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.

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PASIC

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2021

01 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with:

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.

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.

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PASIC

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2021

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.

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PASIC

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2021

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.

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PASIC

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2021

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.

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PASIC

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2021

02 Income

Unrestricted Restricted Total Total
funds funds funds funds
2021 2021 2021 2020
£ £ £ £
Donations and legacies
Donations 42,873 - 42,873 83,199
Legacies 500 - 500 -
Grants 8,000 152,109 160,109 126,334
Donated goods, facilities and services 4,260 - 4,260 22,186
______ ______ ______ ______
Total income from donations and legacies 55,633 152,109 207,742 231,719
Other trading activities
Fundraising events - - - 31,052
Investments
Bank interest 8 - 8 216
Other 2 - 2 1,683
______ ______ ______ ______
Total income 55,643 152,109 207,752 264,670
______ ______ ______ ______
03 Expenditure
Direct Shared Support
costs costs costs Total Total
2021 2021 2021 2021 2020
£ £ £ £ £
Charitable activities
Family support 58,359 13,586 1,644 73,589 57,686
Family events and activities 31,192 10,821 965 42,978 45,456
Family grants 50,275 742 1,213 52,230 42,017
______
______
______ ______ ______
Total expenditure on charitable activities 139,826 25,149 3,822 168,797 145,159
______
______
______ ______ ______
Raising funds
Seeking grants and donations 17,306 14,191 749 32,246 15,922
Fundraising events - - - - 20,419
______
______
______ ______ ______
Total expenditure on raising funds 17,306 14,191 749 32,246 36,341
______
______
______ ______ ______
______
______
______ ______ ______
Total expenditure 157,132 39,340 4,571 201,043 181,500
______
______
______ ______ ______

Page 16

PASIC

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2021

04 Support costs

Management Overheads Governance Total Total
2021 2021 2021 2021 2020
£ £ £ £ £
Charitable activities 1,733 799 1,290 3,822 4,381
Raising funds 340 157 252 749 884
______ ______
______
______ ______
2,073 956 1,542 4,571 5,265
______ ______
______
______ ______
05 Family grants
2021 2020
£ £
Grants paid to individuals
Living costs and travel expenses 32,000 27,800
Making memories 4,775 2,075
Compassionate 13,500 9,000
______ ______
50,275 38,875
Shared costs 742 1,753
Support costs 1,213 1,389
______ ______
52,230 42,017
______ ______
06 Staff costs
2021 2020
£ £
Wages and salaries 87,674 69,848
Social security costs 2,203 1,514
Pension contributions 1,819 1,373
______ ______
91,696 72,735
______ ______

The average number of employees during the year, calculated on a full-time equivalent basis, was 3.5 (2020: 2.8).

No employee received remuneration amounting to more than £60,000 in either financial year.

Remuneration payable to key management personnel was £26,259 (2020: £22,654).

07 Trustees’ remuneration and expenses

No trustee received remuneration or expenses from the charity in either financial year.

Page 17

PASIC NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2021

08 Net income/(expenditure)
2021 2020
£ £
Net income/(expenditure) for the year is stated after charging:
Independent examiner’s remuneration for examination of the accounts 480 480
______ ______
09 Tangible fixed assets
Computers
£
Cost
At 01 September 2020 2,826
Additions 1,208
Disposals (605)
______
At 31 August 2021 3,429
______
Depreciation
At 01 September 2020 693
Charge for the year 1,086
Disposals (605)
______
At 31 August 2021 1,174
______
Net book value
At 31 August 2021 2,255
______
At 31 August 2020 2,133
______
10 Debtors
2021 2020
£ £
Prepayments 969 -
Accrued income (Amounts receivable on grant funding) 10,000 33,176
______ ______
10,969 33,176
______ ______

Page 18

PASIC

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2021

11 Creditors: amounts falling due within one year

2021 2020
£ £
Taxation and social security 1,929 1,663
Other creditors 295 50
Accruals 4,655 880
______ ______
6,879 2,593
______ ______

12 Statement of funds

Balance at Balance at
01 Sep 31 Aug
2020 Income Expenditure Transfers 2021
£ £ £ £ £
Restricted funds
Assura Community Fund - 5,140 (2,142) - 2,998
Bauer Radio’s Cash for Kids Charities 1,425 - (1,425) - -
BBC Children in Need (1) 29,567 - (8,901) - 20,666
BBC Children in Need (2) 3,082 - (3,082) - -
Boots Charitable Trust - 10,000 - - 10,000
GRADS for D2N2 - 1,000 (1,000) - -
J N Derbyshire Trust 1,750 3,000 (1,750) - 3,000
Michael Cornish Charitable Trust - 1,000 - - 1,000
Star Trust (East Midlands) Ltd 3,333 - (3,333) - -
The Clothworkers’ Foundation 81 - (81) - -
The Jones 1986 Charitable Trust 3,333 10,000 (3,333) - 10,000
The National Lottery Community Fund (1) 9,777 21,250 (21,987) - 9,040
The National Lottery Community Fund (2) 7,170 - (7,170) - -
The National Lottery Community Fund (3) 2,160 - (2,160) - -
The National Lottery Community Fund (4) - 33,489 (32,760) (729) -
The Rank Foundation (1) - 20,925 (12,819) (479) 7,627
The Rank Foundation (2) - 25,000 (25,000) - -
The Stoneygate Trust - 7,000 - - 7,000
The Thomas Farr Charity 1,667 2,000 (1,667) - 2,000
Toyota Manufacturing UK Charitable Trust 3,250 - - - 3,250
Vichai Srivaddhanaprabha Foundation Ltd - 5,135 (4,153) - 982
Wesleyan Foundation - 7,170 (213) - 6,957
______ ______
______
______ ______
Total restricted funds 66,595 152,109 (132,976) (1,208) 84,520
Unrestricted funds 126,103 55,643 (68,067) 1,208 114,887
______ ______
______
______ ______
Total funds 192,698 207,752 (201,043) - 199,407
______ ______
______
______ ______

Page 19

PASIC

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2021

12 Statement of funds (continued)

Details of restricted funds are as follows:

Assura Community Fund Part funding of Charity Support Administrator role Bauer Radio’s Cash for Kids Charities Supporting families (COVID-19) BBC Children in Need (1) Family events and activities BBC Children in Need (2) Supporting families (COVID-19) Boots Charitable Trust Part funding of Nottingham Family Support Worker role GRADS for D2N2 Part funding of Marketing & Fundraising Officer role J N Derbyshire Trust Part funding of Charity Support Administrator role Michael Cornish Charitable Trust Supporting Lincolnshire families Star Trust (East Midlands) Ltd Part funding of Nottingham Family Support Worker role The Clothworkers’ Foundation Computer equipment The Jones 1986 Charitable Trust Part funding of Nottingham Family Support Worker role The National Lottery Community Fund (1) Funding of Leicester Family Support Worker role The National Lottery Community Fund (2) Family events and activities The National Lottery Community Fund (3) Supporting families (COVID-19) The National Lottery Community Fund (4) Supporting families (COVID-19) The Rank Foundation (1) Part funding of Marketing & Fundraising Officer role The Rank Foundation (2) Supporting families (COVID-19) The Stoneygate Trust Supporting PASIC's drive to become more self-funding The Thomas Farr Charity Part funding of Charity Support Administrator role Toyota Manufacturing UK Charitable Trust Family events and activities within the Burnaston area Vichai Srivaddhanaprabha Foundation Ltd Supporting Leicestershire families Wesleyan Foundation Supporting Nottinghamshire families

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
2021 2021 2021
£ £ £
Tangible fixed assets 2,255 - 2,255
Current assets 119,511 84,520 204,031
Current liabilities (6,879) - (6,879)
______ ______ ______
Net assets 114,887 84,520 199,407
______ ______ ______

14 Related party transactions

There were no related party transactions requiring disclosure in either financial year.

Page 20

PASIC

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2021

15 Prior year: Statement of financial activities

Unrestricted Restricted Total
funds funds funds
2020 2020 2020
Note £ £ £
Income from:
Donations and legacies 124,785 106,934 231,719
Other trading activities 31,052 - 31,052
Investments 216 - 216
Other 1,683 - 1,683
______ ______ ______
Total income 157,736 106,934 264,670
______ ______ ______
Expenditure on:
Charitable activities
Family support 33,406 24,280 57,686
Family events and activities 13,455 32,001 45,456
Family grants 38,817 3,200 42,017
______ ______ ______
Total expenditure on charitable activities 85,678 59,481 145,159
______ ______ ______
Raising funds
Seeking grants and donations 15,922 - 15,922
Fundraising events 20,419 - 20,419
______ ______ ______
Total expenditure on raising funds 36,341 - 36,341
______ ______ ______
______ ______ ______
Total expenditure 122,019 59,481 181,500
______ ______ ______
Net income/(expenditure) 35,717 47,453 83,170
Transfers between funds 2,111 (2,111) -
______ ______ ______
Net movement in funds 37,828 45,342 83,170
Total funds brought forward 16 88,275 21,253 109,528
______ ______ ______
Total funds carried forward 16 126,103 66,595 192,698
______ ______ ______

Page 21

PASIC

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2021

16 Prior year: 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
______ ______
______
______ ______

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.

Page 22

PASIC

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2021

17 Prior year: 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
______ ______ ______

Page 23

PASIC ANNUAL REPORT & FINANCIAL STATEMENTS For the year ended 31 August 2021

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

Arnold Clark Community Fund Assura Community Fund BBC Children in Need Boots Charitable Trust Dunn Family Charitable Trust GRADS for D2N2 J N Derbyshire Trust Masonic Charitable Foundation Michael Cornish Charitable Trust The Jones 1986 Charitable Trust The National Lottery Community Fund The Rank Foundation The Stoneygate Trust The Thomas Farr Charity Vichai Srivaddhanaprabha Foundation Ltd Wesleyan Foundation

THANK YOU!

Companies, Organisations & Individuals (including but not limited to)

AJ School of Dance Alison Hatton and Karen Parker Alison Peyton Andy Whitt Arnold Post Office Awsworth Primary & Nursery School Barker Morris Legal Search Bill Richmond Crowne Plaza Jess Oliver and Catherine Fowler Kier Construction Kitchen Dancing Long Eaton Masonic Benevolent Association Long Eaton Rugby Club Michael Hoare Morrisons Next Nottingham Girls’ High School Oakmere Golf Club The Askin Family The Big Yellow Self Storage Company The Gill Family The Hobby Family The Minster School

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 24