##
##
##
|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|||
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|||||||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|
##
##
##
##
##
##
##
##
##
##
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##
##
##
##
##
##
##
##
##
##
||||||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|