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