**The Mavis Nye Foundation** (Charity No. 1172765) # **Unaudited Annual report and financial statements for the year ended 30 April 2022** # **The Mavis Nye Foundation For the year ended 30 April 2022** ## **Contents** Page Trustees’ Report 1-3 Statement of financial activities 4 Balance sheet 5 Notes to the financial statements 6-7 Eton Poor's Estate ## **The Mavis Nye Foundation Trustees’ Report for the year ended 30 April 2022** The trustees present their statutory report with the accounts of The Mavis Nye Foundation for the year ended 30 April 2022. The accounts have been prepared in accordance with the accounting policies set out on page 6 and 7 therein and comply with the Charity’s Trust Deed, applicable laws and the requirements of FRS 102, Charities SORP (FRS 102), and Charities Act 2011. ## **Structure, Governance and Management Status and administration** The Mavis Nye Foundation was founded as a charity governed by a Trust Deed dated 26 April 2017. The Mavis Nye Foundation is registered as an incorporated charity in England and Wales under the Charity Commission reference number 1172765. The trustees are responsible for the administration and decisions of the charity in accordance with the Trust Deed. The trustees have adopted the elements of accounting policies recommended in the Charities SORP (FRS 102). ## **The Trustees** The trustees, who held office during the year and subsequently were: Mary Mulhall (Chair) Mavis Nye Ray Nye Harry Steinberg Nicky Howe Marie Hoadley Joanne Tatam Maureen Cooper ## **Principal address** Hugh James Solicitors, 99 Gresham Street, London EC24 7NG ## **Bankers** CAF Bank, 25 Kings Hill Avenue, Kings Hill, West Malling ME19 4JQ 1 ## **The Mavis Nye Foundation Trustees’ Report for the year ended 30 April 2022 (continued)** The organisation is a charity which was registered on 26 April 2017. All Trustees give their time voluntarily and receive no benefits from the charity. Any expenses that have been claimed from the charity relate to administrative items only. The Trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work for the 12 months in the year ending 30 April 2022. The Trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the Trustees ensure the Charity’s aims, objectives and activities remain focused on its stated purposes. ## **Objectives and Activities** The Mavis Nye Foundation (MNF) exists to benefit sufferers of mesothelioma and to raise funds to enable clinical research into developing new drugs to find a cure. Our vision is of a strong, well equipped and more confident small charity, valued for the positive difference it makes in society and for sufferers of this tragic disease, mesothelioma, caused by exposure to asbestos dust and fibres either directly or indirectly. Our strategy states the following objectives: 1. To offer research grants to pursue the development of new drugs for mesothelioma research in the UK. 2. To grow our charity and build a community of support to victims of mesothelioma and their families including through social media. 3. Fund raising and attending events raising awareness of mesothelioma. ## **Achievements and Performance** The Mavis Nye Foundation continues to be grateful for all donations received throughout the year. Since Covid-19 restrictions have been lifted, the Trustees will continue to organise an annual fundraising event to be held in the summer. In July 2022 an event was held in collaboration with another asbestos charity where further funds were raised. A wine tasting evening is currently is organised for 2023. The Mavis Nye Foundation continues to fund a nurse post in East Kent and has funded a second nurse post in Cambridge, providing nurse support and care to Mesothelioma patients. ## **Grant policy** Trustees have the powers to make grants to either individuals or organisations in line with the charity’s objects. Causes are selected via an application process (either verbal or written) sent to a Mavis Nye Foundation trustee. This is then raised at a trustee meeting. A vote of the trustees takes place to approve each grant. Alternatively, a grant can be approved via email, if the majority of the trustees approve the application and there is not a trustees meeting approaching. ## **Volunteers** All of the trustees are volunteers. ## **Reserves policy** 2 ## **The Mavis Nye Foundation** Unrestricted funds, which at 30 April 2022 amounted to £46,264 (2021: £38,315), have not been restricted to a particular purpose by the donors. The unrestricted funds comprise the general fund which is the working fund of the ## **Trustees’ Report for the year ended 30 April 2022 (continued)** charity. It is not tied or designated for use for a particular or defined purpose. The unrestricted funds can be spent on any charitable purpose in accordance with the objects of the charity as the trustees see fit. The unrestricted fund has to provide for the net deficit of any activities that have inadequate income of their own and for the general administration of the charity The trustee’s aim to keep a minimal level of reserves as all raised funds are donated as soon as possible. The level of reserves is considered adequate for the charity to continue operating for the foreseeable future. ## **Risk assessment** The major risks, to which the charity is exposed, as identified by the trustees, have been reviewed and systems and controls have been established to mitigate these risks. ## **Future Plans** The charity’s future plans involve funding laboratory and clinical research projects in the UK for the treatment of Mesothelioma and to offer grants to health professionals endeavouring to work primarily in the field of Mesothelioma nursing in the UK. ## **Going concern** The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future being a period of at least 12 months from approval of the financial statements. No material uncertainties in relation to the ability of the charity to continue on a going concern basis have been identified by the trustees. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements. ## **Trustees’ Responsibilities Statement** The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards). The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that 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 3 ## **The Mavis Nye Foundation** (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. Mary Mulhall **Trustee** Date: 10 July 2023 4 ## **The Mavis Nye Foundation Statement of financial activities for the year ended 30 April 2022** ||Note|**2022**|**2022**|2021| |---|---|---|---|---| ||s|**Unrestrict**|**Total**|Total| |||**ed Funds**|**Funds**|Funds| |||**£**|**£**|£| |**Income from:**||||| |Donations||**16,076**|**16,076**|27,828| |**Total income**||**16,076**|**16,076**|27,828| |**Expenditure on:**||||| |Charitable activities|3|**(8,127)**|**(8,127)**|(60,398)| |**Total expenditure**||**(8,127)**|**(8,127)**|(60,398)| |Net income||**7,949**|**7,949**|(32,570)| |**Reconciliation of**||||| |**funds:**||||| |Total funds brought|5|**38,315**|**38,315**|70,885| |forward||||| |Total funds carried|5|**46,264**|**46,264**|38,315| |forward||||| The notes on pages 6 to 7 form part of these financial statements . 5 ## **The Mavis Nye Foundation Balance sheet as at 30 April 2022** |||**2022**|2021| |---|---|---|---| ||Notes|**£**|£| |**Current assets**|||| |Cash at bank and in hand||**70,151**|76,139| |**Total current assets**||**70,151**|76,139| |**Liabilities**|||| |Creditors – Amounts falling due within one year|4|**(23,887)**|(37,824)| |Net current assets||**46,264**|38,315| |**Total net assets**||**46,264**|38,315| |**Funds of the charity**|||| |Unrestricted Funds|5|**46,264**|38,315| |**Total funds**||**46,264**|38,315| The financial statements of The Mavis Nye Foundation set out on pages 6 to 7 were authorised for issue and approved by the trustees on 10[th] July 2023 and signed on their behalf by: ## Mary Mulhall **Trustee** 6 **The Mavis Nye Foundation Notes to the financial statements for the year ended 30 April 2022** ## **1 Charity information** The Mavis Nye Foundation is a charity registered with the Charity Commission in England and Wales, charity number 1172765. The address of the registered office is Hugh James Solicitors, 99 Gresham Street, London EC24 7NG. ## **2 Accounting policies** ## **Basis of Accounting** The financial statements have been prepared in accordance with the Charities SORP (FRS102) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Charities Act 2011 and the UK Generally Accepted Practice. 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 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) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The Mavis Nye Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at transaction value unless otherwise stated in the relevant accounting policy notes. ## **Taxation** As a charity The Mavis Nye Foundation is exempt from taxation of income and gains received within categories covered by The Corporation Taxes Act 2010, Part 11 to the extent that these are applied to its charitable objects. No tax charge has arisen in the period. ## **Going Concern** The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future being a period of at least 12 months from approval of the financial statements. No material uncertainties in relation to the ability of the charity to continue on a going concern basis have been identified by the trustees. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements. ## **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. Donations are recognised on receipt. ## **Expenditure** All expenditure is accounted for in the Statement of Financial Activities in the period to which the cost relates and is apportioned to cost categories based on the nature of the cost incurred. Grants are accounted for in the period in which they are made or communicated to the third party. The grant making policy is discussed further in the Trustees’ Report. 7 ## **The Mavis Nye Foundation Notes to the financial statements for the year ended 30 April 2022 (continued)** ## **Financial instruments** The Mavis Nye Foundation 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 amortised cost. Financial assets held at amortised cost comprise cash at bank and in hand, together with trade and other debtors. Financial liabilities held at amortised cost comprise trade and other creditors. Investments are held at fair value at the Balance Sheet date, with gains and losses being recognised within income and expenditure in the Statement of Financial Activities. ## **Funds** Unrestricted funds can be spent on any charitable purpose in accordance with the objects of the charity at the discretion of the trustees. To date the charity has not received any restricted funds. ## **Key estimates and judgements** In the application of The Mavis Nye Foundation accounting policies, which are described in note 2, trustees are required to make judgements, estimates, and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. In the view of the trustees, no assumptions concerning the future or estimation uncertainty affecting assets and liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year. ## **3 Analysis of expenditure** ## **Charitable activities** |**Charitable activities**||| |---|---|---| ||**2022**|2021| ||**Total**|Total| ||**£**|£| |Charitable expenditure|**8,011**|60,326| |Operating costs|**116**|72| ||**8,127**|60,398| ## **4 Creditors** |**4 Creditors**||| |---|---|---| ||**2022**|2021| ||**£**|£| |Accrual|**23,887**|37,824| - The accrual relates to the commitment to fund a Mesothelioma nurse position for a further year. ## **5 Related party transactions** There have been no related party transactions in the reporting period that require disclosure. 8