|Registered|Charity Number:|1172522||||
|---|---|---|---|---|---|
|Chair:||Interim —Tina Crombie||||
|Treasurer:||Andy Hodge FCA CTA||||
|Trustees:||Graeme Allinson<br>(resigned||as Chair and atrustee on||
|||27June 2022)||||
|||Tina Crombie (appointed||interim|chair on 21March|
|||2023)||||
|||Dr.James Flanagan<br>(resigned 1August 2022)||||
|||Andy Hodge||||
|||Dr. Gemma Partridge||||
|||Emma Pickett (appointed||27June|2022)|
|||Simon Morley (appointed||21March 2023)||
|||Jim Rennie (appointed|21|March|2023)|
|Registered Office:||Rothamsted<br>Institute||||
|||Harpenden||||
|||Hertford shire||||
|||AL52JQ||||
|Independent|Examiner:|Duncan<br>Brown FCA||||
|Bankers:||Nat West Bank||||
|||22, George Street||||
|||Richmond||||
|||Surrey||||
|||TW9 1JW||||





||||Page|
|---|---|---|---|
|Independent|Examiner's|report||
|Trustees' report||||
|Balance sheet||||
|Statement of|financial activities||10|
|Notes tothe Financial Statements|||11|
|Supplemental|Financial|Information|15|





## 

## 

## 



## 

## 

## 

## 



## 

## 

## 

## 

## 

## 



## 



## 



## 

## 



## 

## 

## 

## 

## 



## 

## 

## 

## 

## 



||THE|HUMAN|MILK|FOUNDATION|FOUNDATION||
|---|---|---|---|---|---|---|
|||BALANCESHEET|||||
|||AT31|MARCH 2023||||
|||||Note|2023|2022|
||||||Total|Total|
||||||f||
|Fixed Assets|||||76,658|72,731|
|Current assets|||||||
|Debtors|||||50,775|32,925|
|Accrued income|||||3,096|6,148|
|Bank Accounts|||||72,936|123,468|
|VAT recoverable|||||5,102|8,210|
|Total current assets|||||131,909|170,750|
|Current liabilities|||||||
|Accounts payable|||||(9,740)|(10,124)|
|Chair ofTrustees'|Loan||||0|(4,126)|
|Pensions payable|||||(2,223)|0|
|Total current liabilities|||||(11,963)|(14,250)|
|Current assets less current liabilities|||||119,946|156,501|
|Net assets|||||196,604|229,232|
|Equity|||||||
|Unrestricted<br>funds|||||129,422|160,870|
|Restricted funds|||||67,182|59,127|
|Designated<br>funds|||||0|9,235|
|Totalfunds|||||196,604|229,232|





## 

## 

|||Note|||2023|2022|
|---|---|---|---|---|---|---|
||||Unrestricted<br>f|Restricted|Totalf|Total<br>f|
|||||(Note 8)|||
|Incoming resources|||||||
|Voluntary<br>income|||63,426|0|63,426|111,940|
|Income from Donor Human|Milk||223,948|0|223,948|177,175|
|Grants &other income|||210,775|24,273|235,048|180,190|
|Total incoming resources|||498,149|24,273|522,422|469,305|
|Resources expended|||||||
|Direct Expenses||9|82,673|0|82,673|75,076|
|Total Employment<br>Costs||10|309,798|0|309,798|231,615|
|Other administrative<br>expenses||11|147,320|15,259|162,579|141,449|
|Total resources expended|||539,791|15,259|555,050|448,140|
|Transfers between funds|||959|(959)|0||
|Net movement<br>in funds|||(40,683)|8,055|(32,628)|21,165|
|Total funds brought forward|||170,105|59,127|229,232|208,067|
|Total funds carried forward|||129,422|67,182|196,604|229,232|
||||Unrestricted|Restricted|Total|Total|
||||f|f|f|f|
|Total Funds|||||||
|Balance brought forward|||170,105|59,127|229,232|208,067|
|Surplus/(Deficit)<br>forthe year|||(40,683)|8,055|(32,628)|21,165|
||||129,422|67 182|196,604|229,232|
|Total funds at31March|||f129,422|f67,182|196,604|229,232|





## 

## 



## 

## 

|Cost|f||f|f||f|
|---|---|---|---|---|---|---|
|At 1April 2022|3,607|3,489|2,700|80,516||90,312|
|Additions|1,383||23333|1,160|731|26,607|
|Disposals|||||||
|At 31March 2023|4,990|3,489|26,033|81,676|731|116,919|
|Depreciation|||||||
|At 1April 2022|2,086|1,027|1,165|13,303||17,581|
|Charge forthe year|1,402|1,418|3,552|16,194|114|22,6&0|
|Adjustment<br>on disposals|||||||
|At 31March 2023|3,488|2,445|4,717|29,497|114|40,261|
|Net BookValue at31March 2023|1,502|1,044|21,316|52,179|617|76,658|
|Net BookValue at31March 2022|1,521|2,462|1,535|67,213||72,731|



## 

|Amounts|falling due within one year:|2023<br>f|2022f|
|---|---|---|---|
|Accounts|receivable from NHS Hospitals|50775|32925|
|Accrued|Income|||



|Voluntary|Income|||
|---|---|---|---|
|||202$ f|2022f|
|Donations||58,047|107,315|
|Gift Aid||5,379|4,625|
|||63,426|111,940|





## 

## 

## 

|Balance at 1April 2022|||59,127|
|---|---|---|---|
|Grants &Other Income|(New Electric Car)||24,273|
|Total Restricted<br>Funds|Received||83,400|
|Operating<br>expenditure|out ofrestricted funds:-|||
|Other administrative<br>expenses —depreciation||15,259||
|Transfer offunds from|restricted to unrestricted|959||
||||(16,218)|
|Balanceat31March20|23||67182|



## 

|Direct Expenses|Restricted|Unrestricted|||
|---|---|---|---|---|
||Funds|Funds|Total|Total|
||2023|2023|2023|2022|
||||f|f|
|Pathology Costs||41,121|41,121|37,225|
|Other Direct Expenses||38,310|38,310|35,087|
|Research &Development||3,242|3,242|2,764|
|||82,673|82,673|75,076|



|Total employment|costs|||||
|---|---|---|---|---|---|
|||Restricted|Unrestricted|||
|||Funds|Funds|Total|Total|
|||2023<br>f|2023<br>f|2023f|2022<br>f|
|Gross salaries||0|281,518|281,518|212,298|
|Employer national|insurance|0|20,128|20,128|13.312|
|Employer pension|contributions|0|8,152|8,152|6,005|
|||0|309798|309798|231615|





## 

## 

## 

## 

|Other administrative|ex|penses|||||
|---|---|---|---|---|---|---|
||||Restricted|Unrestricted|||
||||Funds|Funds|Total|Total|
||||2023|20?3|20?3|2022|
||||f|f|f|f|
|Advertising<br>and Marketing|||0|2,791|2,791|707|
|Audit &Accountancy|Fees||0|5,845|5,845|500|
|Bank fees|||0|386|386|36|
|Cleaning|||0|2,714|2,714|2,858|
|Consulting<br>Fees|||0|33,495|33,495|35,070|
|Depreciation|||15,259|7,421|22,680|11772|
|Entertainment<br>&gifts|||0|1,379|1,379|2,502|
|Expenses for sponsored||event|0|1,938|1,938|807|
|Insurance|||0|1,429|1,429|11,255|
|ITsoftware &consumables|||0|5,836|5,836|7,195|
|Legal expenses|||0|1.227|1,227|5,695|
|Postage &courier|||0|2,838|2,838|2333|
|Printing<br>and stationery|||0|1,974|1,974|1,329|
|Business Rates|||0|4,927|4,927|348|
|Rent|||0|44,158|44,158|43,974|
|Repairs &Maintenance|||0|1,746|1,746|0|
|Staff meetings|||0|5,909|5,909|451|
|Staff training|||0|5,366|5,366|6,543|
|Subscriptions|||0|9,210|9,210|5,092|
|Travel costs|||0|4,282|4,282|1,387|
|Other general expenses|||0|2,449|2,449|1,532|
||||15,259|147,320|162579|141,386|



## 



## 

## 

## 

## 

|Forthe year e|nd|ed 31 March 2|023|||
|---|---|---|---|---|---|
|Account|||Hearts Milk Bank|Chari|Total|
|ratin<br>Income||||||
|Grants - external|||58,833.33|175,440.00|234473.33|
|Grants received - internal|||30,000.00|(30,000.00)|0.00|
|Other Revenue - non|grant||0.00|774.96|774.96|
|Provision ofIVIkto NHS||Hospihls|223,948.25|0.00|223,94825|
|Total Operathg<br>Income|||312,781.58|146+14.$6|458,$96.54|
|Direct Expenses|||38,152.86|158.16|38,311.02|
|Pathology|||41,120.56|0.00|41,120.56|
|Total t8rect Costa|||7$$73A2|158.16|7$,43158|
||||233508.16|146,05680|376+64.$6|
|Administrative<br>Costa||||||
|Accommod alon|||538.99|0.00|538.99|
|Advertising<br>8 Marketing|||2,045.50|745.18|2,790.68|
|Audit &Accountancy|1'ees||4,550.00|1,294.70|5,844.70|
|Bank Fees|||138.60|247.47|386.07|
|Charitable<br>and PoIIcal Donations|||10.00|0.00|10.00|
|Cleaning|||2,713.67|0.00|2,713.67|
|Consulting|||21,495.00|12,000.00|33,495.00|
|Depreciation<br>Expense|||22,327.73|353.34|22,681.07|
|Entarhinment-<br>0%|||782.38|345.00|1,127.38|
|Entertainment-100%|business||251.34|0.00|251.34|
|Expenses forsponsored||events|210.50|1,727.44|1,937.94|
|General Expenses|||874.56|211.47|1,086.03|
|Insurance|||1,428.92|0.00|1,428.92|
|ITSofhvare and Cons umables|||5,753.69|81.95|5,835.64|
|Legal Expenses|||1,226.50|0.00|1,226.50|
|Light, Power, Heating|||65.67|0.00|65.67|
|Motor Vbhide Expenses|||647.95|0.00|647.95|
|Pensions Cosh|||5,894.63|2,257.67|8,152.30|
|Postage, Freight 8 Courier|||2,837.61|0.00|2,837.61|
|Printing 8 Starionery|||1,928.02|46.23|1,974.25|
|Rates|||4,927.09|0.00|4,927.09|
|Rent|||44,158.28|0.00|44,15828|
|Repairs<br>&Maintenance|||1,745.98|0.00|1,745.98|
|Salaries|||204,461.43|77,056.98|281,518.41|
|StaffMeetings|||3,254A9|2,654.20|5,908.69|
|ShffTraining|||5,366.13|0.00|5,366.13|
|Subscnpfions|||8,222.88|987.40|9,210.28|
|Subsistence|||40.53|0.00|40.53|
|Telephone 8 Internet|||60.00|0.00|80.00|
|Travel - National|||4,207.50|74.30|4,281.80|
|Employer<br>Nl ConafbuBons|||13,014.87|7,113.47|20,128.34|
|R&D|||3,241.53|0.00|3,241.53|
|Total Administrative|Cosh||368A21AI7|107,196Alg|4751618.77|
|Net<br>ra<br>S||Defhlt|134+1381|38+60.OO|$6PBMI1|
|Other Income||||||
|Donations|||126.90|41,168.02|41,294.92|
|Donations<br>with gilt aid|||0.00|16,752.54|16,752.54|
|Gift Aid|||0.00|5,379.20|5,379.20|
|Total Other Income|||126AIO|53p$$.7e|63A2886|
|Net S<br>IDefhlt|||134,786JI1|102,1S$.76|32,627.15|