OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-06-30-accounts

Charity number: 1167783

GRACE KELLY CHILDHOOD CANCER TRUST

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

GRACE KELLY CHILDHOOD CANCER TRUST

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Trustees' Report 2
Independent Examiner's Report 9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the Financial Statements 12 - 26

GRACE KELLY CHILDHOOD CANCER TRUST

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2022

Trustees Mrs R Dawson-Jones
Mrs V E Billings, Chair
Dr M Cohen
Mrs E John-Featherby
Mrs A Kelly
Charity registered
number
1167783
Principal office
The Piggery
Cowden Hall Farm
Cowsden
Upton Snodsbury
Worcestershire
WR7 4NZ
Senior management
Dr J Kelly
Accountants
Bishop Fleming LLP
Chartered Accountants
Statutory Auditors
1-3 College Yard
Worcester
WR1 2LB
Bankers
NatWest
Worcester Cross
1 The Cross
Worcester
WR1 3PR

Page 1

GRACE KELLY CHILDHOOD CANCER TRUST

75867((6¶ REPORT FOR THE YEAR ENDED 31 AUGUST 2022

The trustees present their annual report and financial statements of the charity for the period from 1st July 2021 to 30th June 2022. The financial statements have been prepared in accordance with the accounting policies set out in the Grace Kelly Childhood Cancer Trust's financial policies and comply with the Grace Kelly Childhood Cancer Trust's constitution, Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Description of the charity's constitution

The Grace Kelly Childhood Cancer Trust is a registered charity, controlled by its constitution contained in the Trust deeds, dated 7 April 2016. The charity was formed and entered in the register of charities on 22 June 2016 as a Charitable Incorporated Organisation.

The charity was set up in memory of Grace Elizabeth Kelly who passed away in 2014 at the age of 4 after developing a rare form of cancer. The aims of the Grace Kelly Childhood Cancer Trust are to help save the lives of children with cancer by funding much needed research and raising awareness of the signs and symptoms of childhood cancer, working towards earlier diagnosis. We provide emotional, financial and practical support to families in Worcestershire, Gloucestershire, Herefordshire and provide financial support to families in Powys, Monmouthshire and parts of Devon in addition. Nationally, we support children affected by rhabdoid (and other similar) tumours both financially and through and online support group. We produce information booklets, which are written and reviewed by experts, for families affected by childhood cancer to give them the information they need at the time they need it most.

New trustees are elected and appointed by existing trustees and serve for three years after which they may put themselves forward for reappointment. The constitution provides for a minimum of three trustees up to a maximum of twelve trustees.

At bimonthly trustee meetings, the trustees agree the broad strategy and areas of activity for the charity. They take into consideration research grant-making, reserves, risk management policies and charity performance. The day-to-day administration and processing of the charity is delegated to the CEO, the Charity Operations and Fundraising manager and their administrative team. On 30 June 2022, the Board of Trustees consisted of five members.

Recruitment and appointment of new trustees

Trustees are appointed based on skills required by the charity and ability to commit the necessary time and empathy with the objectives of the charity. The existing trustees comply with the ICSA guide, "Recruitment, Appointment and Induction of Charity Trustees," and brief new trustees on the history of the charity and the powers and responsibility of the trustees.

New trustees are briefed on the content of the Trust's constitution, decision making processes and current financial position of the charity. In addition, we provide a trustee handbook and a copy of the Charity Commission's guidance, 'The essential Trustee: What you need to know." On appointment, new trustees sign a model trustee declaration statement and receive copies of the minutes of the last three trustee meetings and a copy of the Trust's constitution. They are also given access to all charity policies.

Any trustee can resign from office at any time by serving one month's written notice to the other trustees.

Trustees are required to disclose all relevant interests and register them and must withdraw from specific decisions where a conflict of interest arises. Neither the Trust nor the trustees have interests with the pharmaceutical industry; but any such interests would be disclosed should there be a trustee that had an interest in this in the future.

Pay policy and staff

All salaries are based upon an assessment of the employment market, the skill levels required, the size of the charity and the salary levels required to obtain the services of appropriate staff.

Page 2

GRACE KELLY CHILDHOOD CANCER TRUST

75867((6¶�5(3257�(CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Principle risks and uncertainties

The trustees have considered the major risks to which the charity is exposed and have ensured systems and procedures are in place to manage these risks. Our major operational risk is the extent to which the research grants awarded successfully advance the knowledge and practice to the benefit of children suffering from rare solid tissue tumours. The trustees manage this risk by collaborating with specialist, accredited committees and charities to ensure that grant applications are properly scrutinised, as well as retaining trustees and staff with sufficient medical knowledge to understand applications. These measures ensure that funding is provided to the most appropriate research projects, although the nature of medical research means that this risk cannot be eliminated.

The charity has in place several policies aimed at managing the other risks the charity faces. These include financial policies, employment policies and policies in relation to the awarding of other grants by the charity.

POLICY ON RESEARCH GRANT MAKING

The Grace Kelly Childhood Cancer Trust policy on the awarding of research grants was established to ensure that money raised is used to fund the most useful and beneficial research for childhood cancer.

The aim of the charity is to fund research into better and kinder treatments for children, specifically targeting rare cancers, including rhabdoid tumours, which are currently considered to be under-researched.

The Grace Kelly Trust is proud to be an AMRC registered research charity. This means that we have our own Research Advisory Panel, and we fund all our research through a robust review process involving experts to ensure that we fund only the best research which has been reviewed in detail to make sure it makes the best possible use of our funds.

We have now completed our first independent research funding round and have also been proud to support another like-minded charity to fund research using the advice of our expert Research Advisory Panel. As a charity, we are keen to collaborate with other like-minded organisations to enable us to make a bigger difference to children with cancer.

CHARITY OBJECTIVES AND ACTIVITIES

As worded in the charity's constitution, the Grace Kelly Childhood Cancer Trust aims to promote and protect good health among children, by raising funds and allocating them to meet its specified objectives which are:

d) Provision of Support for families affected by childhood cancer. The Trustees confirm that they have referred to and had regard for the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities for the charity.

ACTIVITIES OF THE GRACE KELLY CHILDHOOD CANCER TRUST

Volunteer contribution

The Grace Kelly Childhood Cancer Trust trustees are extremely grateful for all the help that our growing team of volunteers has given us over the last 12 months. Without them, we would not be able to reach and help as many families as we do. It has been fantastic to see the number of regular volunteers increasing and the pleasure that they get from helping.

Page 3

GRACE KELLY CHILDHOOD CANCER TRUST

75867((6¶�5(3257�(CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Summary of the main achievements to this year

The trustees are satisfied with the financial position of the charity at the year-end. We have now completed our sixth full year as a registered charity, and we are proud of all we have achieved in the aftermath of the Covid-19 pandemic.

We are pleased to report that our income for this year has exceeded our modest income predictions and we have been recovering well despite an unfavorable economic climate. As in previous years, there has been a significant increase in the need for our services. This demand is notable, both emotionally and financially, with our oncology families still experiencing isolation and financial difficulties with the steep rise in living costs that the country is experiencing.

Due to rising demand for our services, the Grace Kelly Trust has expanded significantly over the last 12 months. We have moved into a larger office space (after achieving grant funding to enable this) complete with a separate family support room and have grown to become a team of six members of staff. At the start of the charity year, we launched a formal family support service in Worcestershire and Herefordshire, and we have now taken on a further support worker to enable us to cover Gloucestershire too.

It has been wonderful to watch the team expand into the dynamic, supportive and dedicated staff that we now have today.

Our family support space means our family support workers are now able to bring individuals and small groups of children into a safe, private space to talk, do therapeutic work, and to give them a chance to meet others in a comparable situation. It is a haven, away from busy family homes where it can be difficult to talk. It is already making a difference to so many families.

Awareness Cards

To date, our signs and symptoms awareness cards have reached over two million families, either in paper format or digitally. We also continue to reach many parents through the inclusion of our awareness cards into the Personal Child Health Record (red book) pack in many regions of the UK.

More recently, our regional red flags awareness card has been published in the British Journal of General Practice and our teaching materials have been used in Pulse, a well-known learning magazine received by GP surgeries nationally and in resources for the Institute of Health Visitors nationally. Our resources are also being used by GP Update provider, Red Whale in their update courses for General Practitioners.

With one child in every 450 receiving a diagnosis of cancer by their 15th birthday, our cards could have reached up to 4,400 families who will have a child who will be diagnosed with cancer in childhood. Armed with the right knowledge, these families are well placed to ensure the best possible outcome for their children by visiting the doctor at the earliest possible stage.

Publications

This year, we have beeQ�SURXG�WR�UHOHDVH�WZR�QHZ�SXEOLFDWLRQV�HQWLWOHG��³,�KDYH�VRPHWKLQJ�FDOOHG�FDQFHU�´� DQG��³0\�IULHQG�KDV�FDQFHU�´�7KH\�KDYH�EHHQ�ZULWWHQ�WR�H[SODLQ�WR�FKLOGUHQ�LQ�D�VLPSOH��XQGDXQWLQJ�EXW�WUXWKIXO� way about what may happen next.

The decision to produce these booklets was made following numerous requests from medical teams, parents and schools for these much-needed publications. These booklets are aimed to be ready and waiting for children when they are diagnosed to help make things a little easier.

We have been pleased to collaborate with our friends at The Little Princess Trust to produce these publications. As a Trust, we strongly believe that collaboration between like-minded organisations can be the key to helping even more children. We would like to thank The Little Princess Trust for providing funding support towards this project.

Page 4

GRACE KELLY CHILDHOOD CANCER TRUST

75867((6¶�5(3257�(CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Last year, the Grace Kelly Trust was proud to become certified members of The PIF TICK (Trusted Information Creator), the only UK-wide quality accreditation mark for print and online health information. To EHFRPH�D�µWUXVWHG�LQIRUPDWLRQ�FUHDWRU�¶�WKH�*UDFH�.HOO\�7UXVW�LQLWLDOO\�KDG�WR�XQGHUJR�DQ�DVVHVVPHQW�WR�VKRZ� that it met the certification criteria. We have recently been reassessed after our first year of membership and we are pleased to say that we have passed this assessment enabling us to remain PIF tick registered.

This means you can be assured that what you are reading, watching, or listening to is evidence-based, understandable, jargon-free, up-to-date, and produced to the best possible standard. Over 39,000 copies of our evidence-based booklets have been distributed in the UK to date. They have been sent out to families that have ordered them, hospitals, hospices, schools and outreach nurses across the UK. Many more have been downloaded electronically, both nationally and internationally.

Research

Research into rare and aggressive children's cancers {such as rhabdoid tumours, rhabdomyosarcoma and other similar tumours) is vital to help improve the survival rates of children affected. We prioritise research that could potentially have a clinical impact or could contribute to altering future treatments for children. This charity, year, we are pleased to have been able to award two separate projects £100,0000 of grant funding each. Both projects are for research into rhabdoid and other aggressive cancers of childhood.

The First project is a 3-year project led by Dr Ruhman Rahman at Nottingham University. It is entitled ³5HFDSLWXODWLQJ�WKH�SRVW-surgical brain microenvironment of atypical rhabdoid teratoid tumours to identify proteins for targeted therap\�´

The second project is also a 3-year project and is led by Dr Daniel Williams at the University of Newcastle DQG�LV�HQWLWOHG��³/LTXLG�ELRSVLHV�DQG�PLQLPDO�UHVLGXDO�GLVHDVH�PHDVXUHPHQWV�IRU�WKH�PDQDJHPHQW�RI� Malignant Rhabdoid Tumours and other SMARCB1 PXWDWHG�WXPRXUV�´�,W�KDV�EHHQ�IXQGHG�LQ�FROODERUDWLRQ� with like-minded charity LoveOliver. It has been so positive for two similar charities to work together in this way.

Both projects show significant potential to make positive steps towards treating rare aggressive cancers such as rhabdoid tumours more effectively. Research is the way that we can make a difference to children in the future who will be diagnosed with cancer.

Support for families

We have now been running our rhabdoid parents online support group for over five years. It now has members from across the world and helps to provide support to families of children who have rhabdoid and other very rare, aggressive cancers of childhood.

The families of children with cancer face so many extra costs. The Grace Kelly Childhood Cancer Trust provided support grants to families when their child is diagnosed, relapses or sadly passes away. Until last year, we had been able to offer this support to all families in Worcestershire, Herefordshire, Gloucestershire and parts of Devon. This year, we have been pleased to extend support grants to Monmouthshire and Powys as well thanks to new named fund Be More Frank which is funding grants in these regions as well as Herefordshire.

Due to some generous grant funding that the charity received, we have also temporarily been able to extend our support grants to children diagnosed throughout the whole of the West Midlands. It has been wonderful to be able to support so many families. In addition, we have been able to offer additional cost of living (or travel support) grants to families in Worcestershire, Herefordshire and Gloucestershire to help the with spiraling living costs.

To date, we have provided almost £97,000 of financial support to families. £58,000 of this has been during this charity year. This has made such a difference to so many families, and something we are proud to have been able to do. Our financial support grants for families run alongside our national work.

Page 5

GRACE KELLY CHILDHOOD CANCER TRUST

75867((6¶�5(3257�(CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Last year, we also introduced new diagnosis support packs for the families of local children that had just been diagnosed with cancer. These packs are kept in the local hospital and contain useful items for parents, the children and accessible, vital information for parents and their children to help them understand the new overwhelming challenges that they are facing. Initially, these packs were provided for just Worcestershire, but we are pleased to say that they have now been expanded to cover Herefordshire and Gloucestershire too.

Our newly established family support service means that all families of children diagnosed with cancer in Worcestershire, Herefordshire and now Gloucestershire are given the option of a named family support worker for the family right from diagnosis (on receipt of their referral) until the end of their childhood cancer journey and beyond.

Our dedicated support workers provide emotional and practical support, not only for the child with cancer, but for their siblings and parents too. Often talking things through and providing a listening ear is what our IDPLOLHV�QHHG�PRVW�RI�DOO��2XU�VXSSRUW�ZRUNHUV¶�GD\V�FRQVLVW�RI�KRPH�YLVLWV��UXQQLQJ�VXSSRUW�VHVVLRQV�LQ�WKH� family support room at our office, visiting families in hospital and running therapeutic support groups. Our support workers liaise closely with the medical teams, schools and other care settings such as hospices to ensure that our families are given as much support as they need during this difficult time.

Unlike many support services, the Grace Kelly Trust has no limit on the length of time we can support a family for. Every family is different and has varying needs, as such we are proud to say that we do not discharge families from our service until our families feel ready to do so. They can also self-refer back to us at any time.

"I love the Grace Kelly charity because they actually care about me. They have given us a new friend called Sarah who comes to our house and spends time talking to us and playing with us. My mum loves to chat to her. They help us go on some great days out. I LOVED the special cricket day and I will keep those memories forever and my Moeen Ali shirt of course! They always make me feel better because they send me information about things that are happening to me so I can stop worrying about stuff that I am unsure of. They even gave me a robot and a tablet so I could still see my school friends and do my work from my house. They are the kindest people and they will always be special to me even when I'm better. "

Josh, aged 9

AV1 Robots for Children with cancer

By giving isolated children a 'window' to their friends and the outside world, our AV1 avatar robots can help them to bridge the gap. They enable children in a hospital bed to interact with their classroom and peers at the same time. We commenced a project in 2019 to offer AV1 robots to some local children that needed them. This project has continued to grow, and we are proud to say that we have now been able to support 15 children with the use of these machines so far.

This has had a positive impact on the children themselves, their families and their school friends. These children have felt less isolated and have been able to stay connected with their peers whilst spending prolonged periods of time away from the classroom. This is a project that we are continuing to run - it is wonderful to see how children using these devices benefit in so many ways.

³,W¶V�EHHQ�ZRQGHUIXO�DQG�VXFK�D�XVHIXO�WRRO�IRU�KHU�WR�MRLQ�LQ�UHPRWHO\�� Amber has been dialling in to lessons DQG�UHDOO\�HQMR\LQJ�LW��,W¶V�HDV\�WR�XVH�DQG�LV�ZRUNLQJ�ZHOO�IRU�XV��.HHSLQJ�KHU�LQ�FRQWDFW�ZLWK�WKH�VFKRRO� atmosphere has helped her feel comfortable with school and she enjoyed it so much that she has popped into schRRO�EULHIO\�IRU�D�FRXSOH�RI�GD\V�´

7UDFH\��$PEHU¶V�PXP

Page 6

GRACE KELLY CHILDHOOD CANCER TRUST

75867((6¶�5(3257�(CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

FINANCIAL POLICIES

Reserves policy

The Charity undertakes to ensure that an unrestricted contingency reserve of 60% of the previous year's recurrent expenditure is retained to cover periods of reduced income or unexpected costs.

One of the key objectives of the Charity is to be able to help fund relevant research. The time and resources required to conduct meaningful medical research makes projects expensive, and funding in the region of £100,000 is normally the minimum required to complete a distinct package of work. More substantial projects can require significantly more than this and the charity will therefore aim to build its reserves over a period of time to fund appropriate research. For this reason, the charity's reserves may fluctuate depending on the timing of grants, and research grants are excluded from recurrent costs when calculating required reserves.

The trustees are of the opinion that reserves as of 30 June 2022 are in line with this policy.

Investment Policy Summary

A low-risk approach has been taken. The Charity will seek to place surplus cash on deposit to ensure liquidity whilst minimising risk.

7KH�7UXVWHHV¶�5HSRUW��LQFRUSRUDWLQJ�D�VWUDWHJLF�UHSRUW��ZDV�DSSURYed by order of the Board of Trustees, as the company directors, on 16[th ] November 2022 and signed on its behalf by:

Mrs V E Billings Chairperson

Page 7

GRACE KELLY CHILDHOOD CANCER TRUST

(CONTINUED)

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. 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.

Page 8

GRACE KELLY CHILDHOOD CANCER TRUST

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 JUNE 2022

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GRACE KELLY CHILDHOOD CANCER TRUST ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 30 June 2022.

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 2011 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 the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

INDEPENDENT EXAMINER'S STATEMENT

Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ACA, which is one of the listed bodies.

Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.

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.

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed:

Dated: 14th March 2023

FCCA Page 9

Andrew Wood

GRACE KELLY CHILDHOOD CANCER TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2022

Note
Income from:
Donations and legacies
3
Charitable activities
4
Total income
Expenditure on:
Raising funds
5
Charitable activities
6
Total expenditure
Net income
Transfers between funds
15
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2022
£
270,483
-
270,483
-
174,924
174,924
95,559
(11,428)
84,131
121,085
84,131
205,216		 Unrestricted
funds
2022
£
220,349
8,985
229,334
38,304
86,520
124,824
104,510
11,428
115,938
522,657
115,938
638,595		 Total
funds
2022
£
490,832
8,985
499,817
38,304
261,444
299,748
200,069
-
200,069
643,742
200,069
843,811		 Total
funds
2021
£
210,563
2,783
213,346
25,936
110,521
136,457
76,889
-
76,889
566,853
76,889
643,742

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 12 to 26 form part of these financial statements.

Page 10

GRACE KELLY CHILDHOOD CANCER TRUST

BALANCE SHEET AS AT 30 JUNE 2022

Note
Fixed assets
Intangible assets
11
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within one
year
14
Net current assets
Total assets less current liabilities
Net assets excluding pension asset
Total net assets
Charity funds
Restricted funds
15
Unrestricted funds
15
Total funds		 2022
£
2,194
32,895
35,089
17,220
799,593
816,813
(8,091)
808,722
843,811
843,811
843,811
205,216
638,595
843,811		 2021
£
1,848
18,518
20,366
18,679
608,527
627,206
(3,830)
623,376
643,742
643,742
643,742
121,085
522,657
643,742

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Mrs V E Billings Chair of Trustees

Date: 09.03.2022

The notes on pages 12 to 26 form part of these financial statements.

Page 11

GRACE KELLY CHILDHOOD CANCER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

1. GENERAL INFORMATION

Grace Kelly Childhood Cancer Trust is a charitable incorporated organisation registered in England and Wales. The registered address is The Piggery, Cowsden Hall Farm, Cowsden, Upton Snodsbury, Worcestershire, WR7 4NZ.

2. ACCOUNTING POLICIES

2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and 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 Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Grace Kelly Childhood Cancer Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

Page 12

GRACE KELLY CHILDHOOD CANCER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

2. ACCOUNTING POLICIES (continued)

2.2 INCOME

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold.

Where the donated good is a fixed asset, it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the Charity's accounting policies.

On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

The value of any voluntary help received is not included in the accounts but is described in the Trustees' annual report.

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and that is treated as an addition to the same fund as the initial discussion unless the donor or the terms of the appeal have specified otherwise.

2.3 EXPENDITURE

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

Page 13

GRACE KELLY CHILDHOOD CANCER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

2. ACCOUNTING POLICIES (continued)

2.3 EXPENDITURE (CONTINUED)

All expenditure is inclusive of irrecoverable VAT.

Governance costs include direct and indirect expenditure involved in ensuring that the charity complies with its charitable and statutory obligations.

2.4 INTANGIBLE ASSETS AND AMORTISATION

Intangible assets costing £200 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.

The estimated useful lives are as follows:

2.5 TANGIBLE FIXED ASSETS AND DEPRECIATION

Tangible fixed assets costing £200 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives are as follows:

Plant and machinery - 2-3 years
Office equipment - 3 years
Computer equipment - 3 years

2.6 DEBTORS

Trade and other debtors are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.

2.7 CASH AT BANK AND IN HAND

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 14

GRACE KELLY CHILDHOOD CANCER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

2. ACCOUNTING POLICIES (continued)

2.8 LIABILITIES AND PROVISIONS

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

2.9 FINANCIAL INSTRUMENTS

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2.10 PENSIONS

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.11 FUND ACCOUNTING

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Page 15

GRACE KELLY CHILDHOOD CANCER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

3. INCOME FROM DONATIONS AND LEGACIES

Donations
Grants
TOTAL 2022
TOTAL 2021		 Restricted
funds
2022
Unrestricted
funds
2022
£
£
225,514
220,349
44,969
-
270,483
220,349
200,090
10,473		 Total
funds
2022
£
445,863
44,969
490,832
210,563		 Total
funds
2021
£
152,503
58,060
210,563

4. INCOME FROM CHARITABLE ACTIVITIES

Unrestricted
funds
2022
£
Shop sales
8,985
TOTAL 2021
2,783		 Total
funds
2022
£
8,985
2,783		 Total
funds
2021
£
2,783

Page 16

GRACE KELLY CHILDHOOD CANCER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

5. EXPENDITURE ON RAISING FUNDS

FUNDRAISING EXPENSES

Unrestricted
funds
2022
£
Costs incurred in fundraising
-
Salaries
35,434
Employers national insurance
1,333
Pensions
1,537
Depreciation
-
38,304
TOTAL 2021
25,936		 Total
funds
2022
£
-
35,434
1,333
1,537
-
38,304
25,936		 Total
funds
2021
£
9,978
12,492
2,246
743
477
25,936

6. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES

Summary by fund type

Staff costs
Activity costs
Support costs
Governance costs
TOTAL 2022
TOTAL 2021		 Restricted
funds
2022
Unrestricted
funds
2022
£
£
54,674
37,005
90,072
23,608
30,178
25,740
-
167
174,924
86,520
34,638
75,883		 Total
2022
£
91,679
113,680
55,918
167
261,444
110,521		 Total
2021
£
48,198
47,247
13,516
1,560
110,521

Page 17

GRACE KELLY CHILDHOOD CANCER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

7. ANALYSIS OF EXPENDITURE BY ACTIVITIES

Staff costs
Activity costs
Support costs
Governance costs
TOTAL 2022
TOTAL 2021
ANALYSIS OF DIRECT COSTS
Staff costs
Depreciation and amortisation
Hospital costs
Provision of medical treatment
Provision of AV1 robots
COVID-19 support for families
Support grants for local families
Supportive care publication costs		 Activities
undertaken
directly
2022
£
91,679
113,680
-
-
205,359
79,344		 Support
costs
2022
£
-
-
55,918
167
56,085
31,177		 Total
funds
2022
£
91,679
113,680
55,918
167
261,444
110,521
Total
funds
2022
£
66,210
16,027
6,761
10,324
-
8,384
97,653
-
205,359		 Total
funds
2021
£
48,198
47,247
13,516
1,560
110,521
Total
funds
2021
£
32,097
4,233
-
-
15,057
8,034
16,500
3,423
79,344

Page 18

GRACE KELLY CHILDHOOD CANCER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

7. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED) ANALYSIS OF SUPPORT COSTS

Staff costs
Other expenses
Staff training
Office overheads
Professional fees
Bank charges
Advertising
Bad debt write off		 Total
funds
2022
£
-
15,065
2,355
32,966
4,361
271
167
900
56,085		 Total
funds
2021
£
16,101
1,902
1,089
5,902
4,534
89
1,560
-
31,177

8. INDEPENDENT EXAMINER'S REMUNERATION

The independent examiner's remuneration amounts to an independent examiner fee of £3,000 ( 2021 - £2,750 ) , and payroll services of £ - (2021 - £ -).

Page 19

GRACE KELLY CHILDHOOD CANCER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

9. STAFF COSTS

Wages and salaries
Social security costs
Pension costs		 2022
£
96,180
4,239
4,095
104,514		 2021
£
51,721
8,985
2,973
63,679

The average number of persons employed by the Charity during the year was as follows:

Employees
The average headcount expressed as full-time equivalents was:
Fundraising
Charitable Activities
Administration		 2022
No.
6
2022
No.
2
3
1
6		 2021
No.
4
2021
No.
1
2
1
4

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

The key management personnel of the Charity comprise the Trustees (who did not receive remuneration for their role as Trustees) and the Director as listed on Page 1. The total amount of employee benefits (including employer pension contributions and employer national insurance contributions) received by key management personnel for their services to the Charity was £35,941 ( 2021 - £ 20,631).

10. TRUSTEES' REMUNERATION AND EXPENSES

During the year, no Trustees received any remuneration or other benefits (2021 - £NIL).

During the year ended 30 June 2022, no Trustee expenses have been incurred (2021 - £NIL).

Page 20

GRACE KELLY CHILDHOOD CANCER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

11. INTANGIBLE ASSETS

COST
At 1 July 2021
Additions
At 30 June 2022
AMORTISATION
At 1 July 2021
Charge for the year
At 30 June 2022
NET BOOK VALUE
At 30 June 2022
At 30 June 2021		 Computer
software
£
3,024
1,572
4,596
1,176
1,226
2,402
2,194
1,848		 Total
£
3,024
1,572
4,596
1,176
1,226
2,402
2,194
1,848

Page 21

GRACE KELLY CHILDHOOD CANCER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

12. TANGIBLE FIXED ASSETS

Plant and
machinery
Office
equipment
£
£
COST OR VALUATION
At 1 July 2021
24,282
840
Additions
17,906
5,463
At 30 June 2022
42,188
6,303
DEPRECIATION
At 1 July 2021
7,706
270
Charge for the year
12,056
1,008
At 30 June 2022
19,762
1,278
NET BOOK VALUE
At 30 June 2022
22,426
5,025
At 30 June 2021
16,576
570
13.
DEBTORS
Other debtors
Prepayments and accrued income
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other taxation and social security
Other creditors
Accruals and deferred income		 Computer
equipment
£
2,074
4,712
6,786
702
640
1,342
5,444
1,372
2022
£
95
17,125
17,220
2022
£
4,490
-
3,601
8,091		 Total
£
27,196
28,081
55,277
8,678
13,704
22,382
32,895
18,518
2021
£
-
18,679
18,679
2021
£
-
350
3,480
3,830

Page 22

GRACE KELLY CHILDHOOD CANCER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

15.
STATEMENT OF FUNDS
STATEMENT OF FUNDS - CURRENT YEAR
Balance at 1
July 2021
£
UNRESTRICTED FUNDS
DESIGNATED FUNDS
Funds designated for medical
treatment costs
258,831
GENERAL FUNDS
General Funds
263,826
TOTAL UNRESTRICTED
FUNDS
522,657
RESTRICTED FUNDS
Biff's Battle
17,551
Molly's Way
12,770
Funds restricted for medical
treatment costs
13,019
Greggs AV1
944
The National Lottery
Community Fund - AV1
55,119
Tesco AV1
11,682
Family support service fund
10,000
Publications
-
Donations for Ukraine
-
Be More Frank
-
Alfie's Fund
-
Family support grants
-
Information Technology
-
Joeys Fund
-
Research
-
Florence: Be More Fab Fund
-
Kai's Warriors Fund
-
121,085
TOTAL OF FUNDS
643,742		 Income
£
-
229,334
229,334
3,966
-
-
-
44,969
-
79,140
5,254
1,183
35,372
156
65,000
10,000
38
24,467
863
75
270,483
499,817		 Expenditure
£
-
(124,824)
(124,824)
(3,750)
(12,770)
-
(666)
(31,801)
(6,772)
(48,461)
(3,983)
(2,680)
(6,750)
(250)
(50,727)
(5,376)
(38)
(900)
-
-
(174,924)
(299,748)		 Transfers
in/out
£
-
11,428
11,428
-
-
(13,019)
-
-
-
-
-
1,497
-
94
-
-
-
-
-
-
(11,428)
-		 Balance at
30 June
2022
£
258,831
379,764
638,595
17,767
-
-
278
68,287
4,910
40,679
1,271
-
28,622
-
14,273
4,624
-
23,567
863
75
205,216
843,811

Page 23

GRACE KELLY CHILDHOOD CANCER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

15. STATEMENT OF FUNDS (CONTINUED)

The specific purpose for which the funds are to be applied are as follows:

Unrestricted funds:

Funds designated for medical treatment costs - to fund treatment unavailable on the NHS, with any surplus funds to be used by the Charity to fund research into childhood cancers. General Funds - to fulfil charitable objectives.

Restricted funds:

Biff's Battle - to provide financial support grants to families in parts of Devon when their child is diagnosed with cancer to help with additional costs they will face. Further grants can be issued if a child relapses or sadly passes away.

Molly's Way - to fund research into finding more specific and gentler treatments for children with cancer.

Funds restricted for medical treatment costs - This individual treatment fund had been held for 5 years and has now been moved into general funds.

AV1 National Lottery Community Fund – AV1 robot devices for children were purchased to help bridge the bed between hospital bed and classroom and to target child and family isolation in different ways. This is an ongoing project to provide these devices to look at other ways of reaching these families.

Tesco AV1 - AV1 robot devices for children were purchased to help bridge the bed between hospital bed and classroom.

Family support service fund - Funds that are restricted for the use of running the family support service and associated costs.

Publications - Funding from the Little Princess Trust to produce new information booklets for children.

Be More Frank to provide financial support grants to families in Herefordshire, Worcestershire, Powys and Monmouthshire when their child is diagnosed with cancer to help with additional costs they will face. Further grants can be issued if a child relapses or sadly passes away.

Family support grants for families - To provide financial support grants to families in the West Midlands when their child is diagnosed with cancer to help with additional costs they will face. Further grants can be issued if a child relapses or sadly passes away.

Information technology – Grant funding for IT equipment and telecommunications to enable efficient mobile working.

Research – Funds from Scottish charity LoveOliver to fund a specific pre-agreed research project at Newcastle University.

Page 24

GRACE KELLY CHILDHOOD CANCER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

15.
STATEMENT OF FUNDS (CONTINUED)
UNRESTRICTED FUNDS
DESIGNATED FUNDS
Funds designated for medical treatment costs
GENERAL FUNDS
General Funds
TOTAL UNRESTRICTED FUNDS
RESTRICTED FUNDS
Biff's Battle
Molly's Way
Funds restricted for medical treatment costs
Greggs AV1
The National Lottery Community Fund - AV1
Tesco AV1
COVID Grants
Family support service fund
Publications
TOTAL OF FUNDS		 Balance at
1 July 2020
£
258,831
231,642
490,473
20,951
7,168
13,019
1,611
17,251
16,380
-
-
-
76,380
566,853		 Income
£
-
134,003
134,003
100
5,602
-
-
40,648
6,250
11,162
10,000
5,581
79,343
213,346		 Expenditure
£
-
(101,819)
(101,819)
(3,500)
-
-
(667)
(2,780)
(10,948)
(11,162)
-
(5,581)
(34,638)
(136,457)		 Balance at
30 June
2021
£
258,831
263,826
522,657
17,551
12,770
13,019
944
55,119
11,682
-
10,000
-
121,085
643,742

Page 25

GRACE KELLY CHILDHOOD CANCER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

16. SUMMARY OF FUNDS

SUMMARY OF FUNDS - CURRENT YEAR

Balance at
Balance at 1 Transfers 30 June
July 2021 Income Expenditure in/out 2022
£ £ £ £ £
Designated funds 258,831 - - - 258,831
General funds 263,826 229,334 (124,824) 11,428 379,764
Restricted funds 121,085 270,483 (174,924) (11,428) 205,216
643,742 499,817 (299,748) - 843,811
SUMMARY OF FUNDS - PRIOR YEAR
Balance at
Balance at 30 June
1 July 2020 Income Expenditure 2021
£ £ £ £
Designated funds 258,831 - - 258,831
General funds 231,642 134,003 (101,819) 263,826
Restricted funds 76,380 79,343 (34,638) 121,085
566,853 213,346 (136,457) 643,742

17. RELATED PARTY TRANSACTIONS

The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 30 June 2022.

Page 26