2022-03-31-accounts

Reports
Reference and administrative		details
Trustees' report
Independent auditor's	report		14
Financial Statements
Statement offinancial	activities		18
Balance sheet			19
Statement ofcash flows			20
Principal accounting policies			21
Notes to the financial	statements		26

		Trustees	C L Moffat
			T T MacDonald
			J R H Mylchreest (Chairman)
			H M Pye
			F P Vanni d'Archirafi
			RJafar
	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 8 Bockius LLP
			Condor House
			5-10StPaul's Churchyard
			London
			EC4M 8AL
	Investment	Manager	Insignis Cash Solutions
			St John's Innovation	Centre
			Cowley Road
			Cambridge
			CB4 OWS

						Year			Year
						ended			ended
				Unrestricted	Restricted	31March	Unrestdcted	Restricted	31 March
				funds	funds	2022	funds	funds	2021
			Notes	E		E	E	E
income and expenditure
Income from
Donations				714,037		714,037	842,909	120,000	962,909
Other trading activities				123,240		123,240	71,656		71,656
Investment income				8,592		8,592	8,923		8,923
Other Income							49,615		49,615
Total income				845,869		845,869	973,103	120,000	1,093,103
Expenditure on
Raising funds			5	188,928		188,928	173,897	— 173,897
Charitable activities			6	978,935	120,000	1,098,935	651,533	1,525	653,058
Total expenditure				1,167,863	120,000	1,287,863	825,430	1,525	826,955
Net (expenditure)		income
and net movement		in funds		(321,994)	(120,000)	(441,994)	147,673	118,475	266,148
Transfer between		Funds	19				112,500	(112,500)
Reconciliation of		funds:
Balances brought	fonNard
at 1 April 2021				2,121,691	120,000	2,241,691	1,861,518	114,025	1,975,543
Fund balances carried forward
at 31 March 2022			16	1,799,697		1,799,697	2,121,691	120,000	2,241,691

		Notes	2022	2021
			E	F
Fixed assets			1,827	1,215
Current assets
Debtors: amounts	falling due after one year	12	170,000	165,000
Debtors; amounts	falling due within one year	12	368,883	548,183
Investments		13	1,065,000	513,949
Cash at bank and	in hand		1,281,128	1,825,382
			2,885,011	3,052,514
Liabilities
Creditors: amounts	falling due
within one year			(1,087,141)	(812,038)
Net current assets			1,797,870	2,240,476
Total net assets			1,799,697	2,241,691
The funds ofthe charity:
Funds and reserves
Restricted funds		16		120,000
Unrestricted funds
- Designated funds		17	1,228,054	1,462,830
- General funds			571,643	658,861
			1,799,697	2,241,691

								Year	Year
								ended	ended
								31 March	31 March
								2022	2021
							Notes	F	F
Cash flows from			operating	activities:
Net cash	provided		by operating activities				A	166	229,036
Net cash	used in/(provided			by) investing	activities		B	(544,420)	307,642
Change	in cash		and cash	equivalents	in	the year		(544,254)	536,678
Cash and		cash equivalents		at beginning		ofthe year		1,825,382	1,288,704
Cash and		cash equivalents		at 31 INarch		2022	C	1,281,128	1,825,382

Reconcil activities	iatio	n o	fnet movem	ent in funds	to net cash prov	ided by operating
						Year	Year
						ended	ended
						31 March	31 March
						2022	2021
						F.	F
Net movement		in funds (as per		the statement	offinancial	(441,994)	266,148
activities)
Adjustments		for:
Decrease	in debtors					174,300	2?3,963
Increase/(decrease)			in creditors			275,103	(303,931)
Depreciation						1,349	1,779
Investment	income					(8,592)	(8,923)
Net cash	provided		by operating	activities		166	229,036

B	Cash flows from investing	activities
			Year	Year
			ended	ended
			31 INarch	31 March
			2022	2021
			F.
	Purchase offixed assets		(1,961)
	(Purchase)/sale ofcurrent asset	investments	(551,051)	298,719
	Bank interest received		8,592	8,923
	Total cash flows from investing	activities	(544,420)	307,642
C	Analysis ofcash and cash equivalents

Anal	ysis ofcash and cash equivalents
		Year	Year
		ended	ended
		31 March	31 March
		2022	2021
			F
Cash	at bank and in hand	1,281,128	1,825,382
Total	cash and cash equivalents	1,281,128	1,825,382

Income from Don	ations
				2022
		Unrestricted	Restricted	Total
		E	F
Trusts and Foundations		47,000		47,000
Corporate Donations		480		480
Individual Donations		606,712		606,712
Gifts and Services in	Kind	59,845		59,845
2022 Total Funds		714,037		714,037
				2021
		Unrestricted	Restricted	Total
Trusts and Foundations		150,487		150,487
Corporate Donations		(35,014)	120,000	84,986
Indi vidual Donations		726,956		726,956
Gifts and Servicesin	Kind	480		480
2021 Total Funds		842,909	120,000	962,909

				2022
		Unrestricted	Restricted	Total
Fundraising	Events	123,240		123,240
2022 Total	Funds	123,240		123,240
				2021
		Unrestricted	Restricted	Total
Fundraising	Events	71,656		71,656
2021 Total	Funds	71,656		71,656

				2022
		Unrestricted	Restricted	Total
				F
Bank	Interest Received	8,592		8,592
2022	Total Funds	8,592		8,592
				2021
		Unrestricted	Restricted	Total
Bank	Interest Received	8,923		8,923
2021	Total Funds	8,923		8,923

Other Income
			2022	2021
			E
Government Grants
- Coronavirus Job Retention Scheme				39,615
-Small Business Scheme				10,000
Total Other Income				49,615
Expenditure on Raising Funds
				2022
		Unrestricted	Restricted	Total
			E	F
Cost ofFundraising	Events	44,816		44,816
Support Costs (note	7)	21,434		21,434
Staff Costs (note 9)		122,678		122,678
2022 Total Funds		188,928		188,928
				2021
		Unrestricted	Restricted	Total
Cost ofFundraising	Events	23,380		23,380
Suppoit Costs (note 7)		30,233		30,233
StaffCosts (note 9)		120,284		120,284
2021 Total Funds		/73,897		173,897

Expenditure on Chari	ta	ble Activit	ies
						2022
				Unrestricted	Restricted	Total
				F		F
Staff Costs (note 9)				169,871		169,871
Research Expenditure:
- Imperial College Grants				386,749	60,000	446,749
-Chelsea and Westminster		Healthcare	Charity	15,979		15,979
- Kings College Grants				292,738	60,000	352,738
- Queen Mary University	London Grant			14,583		14,583
Support Costs (note 7)				99,015		99,015
2022 Total Funds				978,935	120,000	1,098,935

							2021
					Unrestncted	Restncted	Total
StaffCosts (note 9)					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 7)					69,242		69,242
2021 Total Funds					651,533	1,525	653,058
Support Costs
					Expenditure
					on Raising	Charitable	2022
					Funds	Activities	Total
					E		F
Recruitment Costs and	Staff Welfare				537	243	780
General Administrative	Expenses				6,819	9,442	16,261
Marketing and Publicity	Expenses				1,473		1,473
Professional Fees						6,918	6,918
Office Rental					5,703	7,897	13,600
Consultancy					6,821	6,821	13,642
Pension Fees					81	111	192
Legal Advice						59,845	59,845
Governance Costs:
-Auditor's Remuneration						7,738	7,738
2022 Total Funds					21,434	99,015	120,449
					Expenditure
					on Raising	Charitable	2021
					Funds	Activities	Totai
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

This is stated after charging:
	2022	2021
	F
Auditor's Remuneration
-Audit for Current Year	7,725	7,500
-Audit for Prior Year	13	13

Staff co	sts were as follows:
		2022	2021
		E
Salaries	and Wages	250,568	246,433
Staff Benefits		7,081	6,581
Social Security Costs		25,205	24,301
Pension	Contributions	9,695	10,533
		292,549	287,848

The avera	ge number ofemployees was as	follows:
		Average	Average
		2022	2021
Raising Funds		3.0	2.0
Charitable	Activities	1.0	2.0
Central Support		1.0	1.0
		5.0	5.0

	Office
	Equipment	Total
	E
Cost
At 1 April 2021	7,116	7,116
Additions	1,961	1,961
At 31 March 2022	9,077	9,077
Depreciation
At 1 April 2021	5,901	5,901
Charge for the year	1,274	1,274
Disposals	75	75
At 31 March 2022	7,250	7,250
Net Book Value:
At 31 March 2022	1,827	1,827
At 31 March 2021	1,215	1,215

Debtors
	2022	2021
Other Debtors	2,000	4,425
Prepayments	27,887	21,182
Accrued Income	508,996	687,576
	538,883	713,183
Due within one year	368,883	548,183
Due after one year	170,000	165,000

			2022	2021
Bank	Deposit	Accounts	1,065,000	513,949
			1,065,000	513,949

Creditors: amounts due within one year
	2022	2021f
Trade Creditors	1,419	43,250
Grants Payable	1,040,847	735,811
Taxation and Social Security	1,533	9,245
Other Creditors		1,169
Accrued Costs	25,342	22,563
Deferred Income	18,000
	1,087,141	812,038

Include set out	d in creditors fo below:	r grants payable a	re amounts	broken down	by individual	grants as
			Accrual as	New Grant		Total
			at 1 April	Expenditure		Accrual
			2021	IAwards	C~~t~ paid	2022
Name of institution		Purpose
Imperial	College	Core Grant	128,426	(20,159)	(108,267)
Imperial	College	PhD studentships	202,945	26,881	(137,266)	92,660
Imperial	College	The Robert
		McAlpine
		Studentship
		Award	27,478		(27,478)
Imperial	College	Lecturer and PhD
		Studentship	152,024	65,339	(86,933)	130,430
Imperial	College	Studentship		30,722		30,722
Imperial	College	BUMP Feasibility
		Study		333,333		333333
Chelsea	&Westminster	Research
		Midwives	83,399	15,979	(99,378)
Action Medical Research		Research Grants	122,134		(55,058)	67,076
King's College		Project Grants	19,405	19,405		38,810
King's College		BUMP Feasibility
		Study		333,333		333 333
Queen	Mary University	Pilot Grants
London				14,583		14,583
			735,811	819,416	(514,380)	1,040,847
			Accrual as	New Grant		Total
			at 1Apnl 2020	Expenditun: IAwards	Costs Paid	Accrual 2021
Name ofinstitution		Purpose
Imperial	Co//ege	Core Grant	294,883	(18,204)	(148,253)	128,426
Imperial	Co//ege	PhD
		Studentships	144,632	143,619	(85,306)	202,945
Impenal	Co//ege	The Robert
		McAlpine
		Studentship
		Award	35,865	15,060	(23,447)	27,478
Imperial	Col/ege	Lecturer and PhD
		Studentship	100,708	70,907	(19,591)	152,024
Che/sea	& 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 Co//ege		Project Grants		19,405		19,405
			814,973	379,687	(458,849)	735,811

				Total
	Restricted	Designated	General	Funds
	Funds	Fundsf	Funds	2022
Fixed Assets			1,827	1,827
Net Current Assets		1,228,054	569,816	1,797,&70
Net Assets at the end ofthe year		1,228,054	571,643	1,799,697
				Total
	Restncted	Designated	General	Funds
	Funds	Funds	Funds	2021
Fixed Assets			1,215	1,2'/5
Net Current Assets	120,000	1,462,830	657,646	2,240,476
Net Assets at the end ofthe year	'/20, 000	1,462,830	658,861	2,241,691

Restricted	Funds
		At 1			Transfer to	At 31
		April			Unrestricted	INarch
		2021	Income	Expenditure	Funds	2022
			E		E
ICAP		120,000		(120,000)
Total Restricted Funds		120,000		(120,000)
		At1			Transfer to	At31
		April			Unrestncted	March
		2020	Income	Expenditure	Funds	2021
The Robert	McAlpine	8,792		(8,792)
Studentship	Award
ClearBlue/SPD		105,233		7,267	(112,500)
ICAP			120,000			120,000
Total Restncted Funds		114,025	120,000	(1,525)	(112,500)	120,000

				Designated		At 31
			At 1 April	during the		March
			2021	year	Utillsed	2022
				E	F
Imperial College Fund			300,829	34,713	(102,782)	232,760
Action Medical Research		Fund		250,000		250,000
Chelsea &Westminster		Fund	15,979		(15,979)
King's College Education		Grant	21,022		(19,405)	1,617
MRC Fellowship Fund			375,000			375,000
BUMP Award (King's) (Project grants)			250,000	250,000	(333,333)	166,667
BUMP Award (Imperial)			500,000	(74)	(333,333)	166,593
Queen Mary University	London Pilot Grant			50,000	(14,583)	35,417
Total Designated Funds			1,462,830	584,639	(819,415)	1,228,054
				Designated		At 31
			At 1April 2020	during the year	Utilised	March 2021
imperial Co//ege Fund			746,382	(234,172)	(211,381)	300,829
Action Medical Research		Fund	157,253	(91,073)	(66,180)
Che/sea & 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

commitments as at 31	March 2022:
			2021
			As restated
Imperial College fund		399,353	300,829
Chelsea &Westminster	fund		15,979
King's College education	grant	168,284	21,022
Queen Mary University	London	35,417
MRC Fellowship fund
Total Commitments		603,054	337,830

Analysis	ofmovement	between Funds
						Total
		At				Funds
		1 Apr 2021	Income	Expenditure	Transfers	2022
			E
Restricted Funds		120,000		(120,000)
Unrestricted	Funds	2,121,691	788,470	(1,110,464)		1,799,697
Total Funds		2,241,691	788,470	(1,230,464)		1,799,697
						Total
		At				Funds
		1Apr 2020	Income	Expenditure	Transfers	2021
		E
Restricted Funds		114,025	120,000	(1,525)	(112,500)	120,000
Unrestricted	Funds	/,861,518	973,103	(825,430)	112,500	2,121,691
Total Funds		1,975,543	1,093,103	(826,955)		2,241,691