2021-03-31-accounts

Reports	Reports
Reference and administrative		details
Trustees' report
Independent auditor's	report		15
Financial Statements
Statement offinancial	activities		19
Balance sheet			20
Statement ofcash flows			21
Principal accounting	policies		22
Notes to the financial	statements		27

		Trustees	Trustees	N R Hurrell
				C L Moffat
				T T MacDonald
				JR H Mylchreest	(Chairman)
				HMPye
				F P Vanni d'Archirafi
				R Jafar
	Registered		office	3"Floor, 315-317New Kings Road
				London
				SW6 4RF
	Telephone			07821 681 058
		Website		www. borne. org.uk
Company	registration	number		09788534(England		and Wales)
Charity	registration	number		1167073(England	and Wales)
			Auditor	Barnes Roffe LLP
				Charles Lake House,		Claire Causeway
				Crossways Business		Park
				Dartford
				DA2 6QA
		Bankers		CAF Bank
				25 Kings Hill Avenue
				Kings Hill
				West Mailing
				ME194TA
		Solicitors		Morgan Lewis &Bockius LLP
				Condor House
				5-10St Paul's Churchyard
				London
				EC4M 8AL
	Investment	Manager		Insignia Cash Solutions
				St John's Innovation		Centre, Cowley Road
				Cambridge
				CB4 OWS

						Year			Year
						ended			ended
				Unrestricted	Restricted	31 March	Unrestricted	Restricted	31 March
			Notes	funds f	funds 6	2021 6	funds 6	funds 6	2020 r.
Income and expenditure
Income from
Donations				842,909	120,000	962,909	672,641	150,000	822,641
Other trading activities				71,656		71,656	725,059		725,059
Investmeni income				8,923		8,923	14,439		14,439
Other income				49,615		49,615
Total Income				973,103	120,000	1,093,103	1,412,139	150,000	1,562,139
Expenditure on
Raising funds			5	173,897		173,897	432,817		432,817
Charitable activities			6	651,533	1,525	653,058	1,003,247	92,642	1,095,889
Total expenditure				825,430	1,525	826,955	1,436,064	92,642	1,528,706
Net income (expenditure)
and net movement		In funds	8	147673	118475	266148	(23925)	57358	33433
Transfer between		Funds	16	112,500	(112,500)
Reconciliation of		funds:
Balances brought 1 April 2020	forward st			1,861,518	114,025	1,975,543	1,885,443	56,667	1,942,110
Fund balances carried forward
at31 March 2021			16	2,121,691	120,000	2,241,691	1,861,518	114,025	1,975,543

		Notes	2021f	2020f
Fixed assets			1,215	2,994
Current assets
Debtors		12	713,183	987,145
Investments		13	513,949	812,669
Cash at bank and in hand			1,825,382	1,288,704
			3,052,514	3,088,518
Liabilities
Creditors: amounts	falling due
within one year		14	(812,038)	(1,115,969)
Net current assets			2,240,476	1,972,549
Total net assets			2)241)691	1 975543
The funds ofthe charity:
Funds and reserves
Restricted funds			120,000	114,025
Unrestricted funds
-Designated funds		17	1,462,830	1,323,400
-General funds			658,861	538,118
			2,241,691	1,975,543

							Year	Year
							ended	ended
							31 March	31 March
						Notes	2021 f.	2020f
Cash flows from		operating	activities:
Net cash	provided	by operating activities				A	229,036	383,497
Net cash	provided	by/(used	in) investing	activities		B	307,642	(199,184)
Change	in cash	and cash	equivalents	in	the year		536,678	184,313
Cash and cash equivalents			at beginning		ofthe year		1,288,704	1,104,391
Cash and cash equivalents			at 31 March		2021	C	1,825,382	1,288,704

Reconcili activities	at	io	n of	net movem	ent in funds	to net cash prov	ided by operating
							Year	Year
							ended	ended
							31 March	31 March
							2021f	2020f
Net movement			in funds (as per		the statement	offinancial	266,148	33,433
activities)
Adjustments			for:
Decrease	in	debtors					273,963	141,826
Decrease/(increase)				in creditors			(303,931)	220,908
Depreciation							1,779	1,769
Investment		income					(8,923)	(14,439)
Net cash	provided			by operating	activities		229,036	383,497

			Year	Year
			ended	ended
			31 March	31 March
			2021	2020
			f.
Purchase offixed assets				(954)
Sale/(purchase)	ofcurrent asset	investments	298,719	(212,669)
Bank interest received			8,923	14,439
Total cash flows from investing		activities	307,642	(199,184)

		Year	Year
		ended	ended
		31 March	31 March
		2021f	2020f
Cash	at bank and in hand	1,825,382	1,288,704
Total	cash and cash equivalents	1,825,382	1,288,704

					2021
			Unrestricted f	Restricted f	Total f
Trusts and	Foundations		150,487		150,487
Corporate	donations		(35,014)	120,000	84,986
Individual donations			726,956		726,956
Gifts and services in kind			480		480
2021 Total funds			842,909	120,000	962,909
					2020
			Unreslricted f	Restricted f	Total f
Trusts and	Foundalions		57,598		57,598
Corporate	donations		37,950	150,000	187,950
Individual	donations		572,793		572,793
Gifts and sen ices in kind			4,300		4,300
2020 Tolsl funds			672,541	150,000	822,641
Income from other trading		activities
					2021
			Unrestricted	Restricted f	Total f
Fundraising	events		71,656		71,656
2021 Total funds			71,656		71,656
					2020
			Unrestricted f	Restricted f	Total f
Fundraislng	events		725,059		725,059
2020 Tolal funds			725,059		725,059

Inco	me from investment activities
				2021
		Unrestricted	Restricted f	Total f
Bank	interest received	8,923		8,923
2021	Total funds	8,923		8,923
				2020
		Unrestncted f	Restricted f	Total
Bank	interest received	14,439		14,439
2020	Total funds	14,439		14,439

Other income
			2021	2020f
Government Grants
- Coronavirus Job Retention Scheme			39,615
- Small Business Scheme			10,000
			49,615
Expenditure on raising funds
				2021
		Unrestricted	Restdcted	Total
		6	f	6
Cost offundraising	events	23,380		23,380
Support costs (note	6)	30,233		30,233
Staff costs (note 8)		120,284		120,284
2021 Total funds		173,897		173,897
				2020
		Unrestricled f	Restricted f	Total E
Cost offundraising	events	234,662		234,662
Support costs (note	6)	55,855		55,855
Staffcosls (note 8)		142,300		'l42,300
2020 Total funds		432,817		432,817

Expenditure on charitab	le act	ivit	ies
						2021
				Unrestricted	Restricted	Total
				f		6
Staff costs (note 8)				167,564		167,564
Research expenditure:
. Imperial College grants				202,589		202,589
.The Robert McAlpine Studentship		Award			8,792	8,792
.Chelsea and Westminster	Healthcare		Charity	106,959	(7,267)	99,692
.AMR Research Grants				66,180		66,180
. Kings College Grants				38,810		38,810
.Other grants				189		189
Support costs (note 6)				69,242		69,242
2021 Total funds				651,533	1,525	653,058

							2020
					Unrestricted	Restricted f	Total 8
Staffcosts (note 8)					205,210		205,210
Research expenditure:
. Imperial College grants					393,955		393,955
. The Robert McAlpine	Studentship		Award			37,875	37,875
.Chelsea and Westminster		Healthcare		Charity	70,929	54,767	197,400
.AMR Research Grants					124,819		124,819
.Other grants					30,865		30,865
Support costs (note BJ					105,765		105,765
2020 Tolal funds					1,003,247	92,642	1,095,889

Support c	osts
			Expenditure
			on raising	Charitable	2021
			funds 2	activities f	Total 6
Recruitment	costs and	staff welfare	368	6,136	6,504
General administrative		expenses	6,137	10,571	16,708
Marketing and publicity		expenses	473		473
Professional	fees		480	15,804	16,284
Office rental			9,218	15,877	25,095
Consultancy			13,486	13,220	26,706
Pension fees			71	121	192
Governance	costs:
.Auditor's remuneration				7,513	7,513
2021 Total funds			30,233	69,242	99,475
			Expenditure
			on raising	Charitable	2020
			funds	activilies	Totalf
Recruitment	cosis and	staff welfare	1,626	5,994	7,620
General administrative		expenses	8,477	12,224	20,701
Marketing and publicity		expenses	19,358		19,358
Professional	fees		8,640	71,333	79,973
Office rental			13,046	18,814	31,860
Consultancy			13,270	19,263	32,533
Pension fees			78	114	192
Governance	costs:
. Auditor's remuneration				9,753	9,753
2020 Total funds			55,855	105,765	161,620

			2021 f	2020 f
Auditor's remuneration
-Audit for current year			7,500	8,400
-Audit for prior year			13	1,353
Staff costs and numbers	and remuneration	of key management	personnel
Staff costs were as follows:
			2021 f	2020 f
Salaries and wages		246,433		301,043
Staff benefits			6,581	4,793
Social security costs			24,301	33,527
Pension contributions			10,533	8,147
		287,848		347,510

The avera	ge number of employees was	as follows:
		Average	Average
		2021	2020
Raising funds		2.0	2.5
Chsditsble	activities	2.0	2.0
Central support		1.0	1.0
		5.0	5.5

11	Tangible fixed assets	Tangible fixed assets
			Office equipment	Totalf
	Cost
	At 1 April 2020		7,116	7,116
	Additions
	At 31 March 2021		7,116	7,116
	Depreciation
	At 1 April 2020		4,122	4,122
	Charge for the year		1,779	1,779
	At 31 March 2021		5,901	5,901
	Net book value
	At 31 March 2021		1,215	1,215
	At 31 March 2020		2,994	2,994
12	Debtors
			2021	2020
	Other debtors		4,425	7,444
	Prepayments		21,182	10,018
	Accrued income		687,576	969,683
			713,183	987,145
	Due within one year		548,183	817,145
	Due after one year		165,000	170,000
13	Current Asset Investments
			2021	2020
			f.
	Bank deposit accounts		513,950	812,669
			513,950	812,669
14	Creditors: amounts	due within one year
			2021f	2020f
	Trade creditors		43,250	117,510
	Grants payable		735,811	814,973
	Taxation and social security		9,245	5,606
	Other creditors		1,169	1,587
	Accrued costs		22,563	176,293
			812,038	1,115,969

			Accrual as	New grant		Total
			at 1 April	expenditure	Costs	accrual
Name of	institution	Purpose	2020 f	Iawardsf	paidf	2021f
Imperial	College	Core Grant	294,883	(18,204)	(148,253)	128,426
Imperial	College	PhD studentships	144,632	143,619	(85,306)	202,945
Imperial	College	The Robert
		McAlpine
		Studentship
		Award	35,865	15,060	(23,447)	27,478
Imperial	College	Lecturer and PhD
		Studentship	100,708	70,907	(19,591)	152,024
Chelsea	&Westminster	Research
		Midwives	137,021	82,720	(136,342)	83,399
Action Medical Research		Research Grants	101,864	66,180	(45,910)	122,134
Kings College		Project Grants		19,405		19,405
			814,973	379,687	(458,849)	735,811
			Accrual as	New grant		Total
Name ofinstitution		Purpose	at 1 April 2019f	expenditure /awardsf	Costs paid f	accrual 2020 f
Imperial	Co/lege	Core Grant	551,382*	153,026	(409,525)	294,883
Imperial	Co//ege	PhD
		Studentships	113,673*	150,210	(119,251)	144,632
imperial	College	The Robert
		McAlpine
		Studentship
		Award	34,945*	37,875	(36,955)	35,865
Imperial	Co//ege	Lecturer and PhD
		Studentship	24, 100'	90,718	(14,110)	100,708
Che/sea	& Westminster	Research
		Midwives		146,024	(9,003)	137,021
Action Medical Research		Research Grants		124,819	(22,955)	101,864
			724, 100"	702,672	(611,799)	814,973

15	Analysis	of net assets betwee	n funds
									Total
				Restricted	Designated			General	funds
				funds f	funds f			funds	2021 f
	Fixed assets							1,215	1,215
	Net current	assets		120,000	1,462,830			657,646	2,240,476
	Net assets	at the end ofthe year		120,000	1,462,830			658,861	2,241,691
									Tolal
				Restricted	Designated			General	funds
				fundsf	funds f			funds f	2020f
	Fixed assets							2,994	2,994
	Nel current	assets		114,025	1,323,400			535,124	1,972,549
	Nel assets	at the end ofthe year		114,025	1,323,400			538,118	1,975,543
16	Restricted	funds
			At 1					Transfer to	At 31
			April					Unrestricted	March
			f	Income f	Expenditure		f	Funds f	2021 f
	The Robert	McAlpine	8,792		(8,792)
	Studentship	Award
	ClearBlue/SPD		105,233		7,267			(112,500)
	ICAP			120,000					120,000
	Total restricted funds		114,025	120,000	(1,525)			(112,500)	120,000
			Al1					Transfer lc	At 31
			April					Unreslricled	March
			2019 f	Income f	Expenditure	f		Funds f	2020f
	The Robert	McAlpine	46,667		(37,875)				8,792
	Studentship	Award
	The Woolbeding Charity		10,000		(10,000)
	ClearBlue/SPD			150,000	(44,767)				105,233
	Tolal restricted funds		56,667	150,000	(92,642)				114,025

				Designated		At 31
			At 1 April	during the		March
			2020 f	year f	Utilisedf	2021f
Imperial College	fund		746,382	(234,172)	(211,381)	300,829
Action Medical Research		fund	157,253	(91,073)	(66,180)
Chelsea &Westminster		fund	4,765	93,934	(82,720)	15,979
King's College education		grant	40,000	427	(19,405)	21,022
MRC Fellowship	fund		375,000			375,000
Project grants				250,000		250,000
BUMP award				500,000		500,000
Total designated	funds		1,323,400	519,116	(379,686)	1,462,830

				Designaied		Al 31
			Al 1April	during the		March
			2019	Yea"	Vtrlrsed f	2020 f
Imperial Co/lege	fund		1,330,991	(152,779)	(431,830)	746,382
Action Medical	Research	fund	250,000	32,072	(124,819)	157,253
Che/sea & Westminster		fund		150,789	(146,024)	4,765
King's College education		grant		40,000		40,000
MRC Fellowship	fund			375,000		375,000
Tolal designated	funds		1,580,991	445,082	(702,673)	1,323,400

						Total
		At				funds
		1 Apr 2020	Income f	Expenditure f	Transfers f	2021 f
Restricted	funds	114,025	120,000	(1,525)	(112,500)	120,000
Unrestricted	funds	1,861,518	973,103	(825,430)	112,500	2,121,691
Total funds		1,975,543	1,093,103	(826,955)		2,241,691
						Total
		At				funds
		1 Apr 2019 f	income f	ExPenditure f	Transfers f	2020 f.
Restricted	funds	56,667	150,000	(92,642)		114,025
Unrestricted	funds	1,885,443	1,412,139	(1,436,064)		1,861,518
Total funds		1,942,110	1,094,453	(842,337)		1,975,543

disclosed in note 14,a	s follows:
		2021f	2020f
Imperial College fund		300,829	746,382
Action Medical Research	fund		157,253
Chelsea &Westminster	fund	15,979	4,765
King's College education	grant	21,022	40,000
MRC Fellowship fund		375,000	375,000
		712,830	1,323,400