DocuSign Envelope ID: B1BD76EE-BA9F-4430-8E18-73BEDD813350
**Charity number: 1172807**
## **CHILD GROWTH FOUNDATION**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 30 JUNE 2021**
DocuSign Envelope ID: B1BD76EE-BA9F-4430-8E18-73BEDD813350
## **CHILD GROWTH FOUNDATION**
|**CONTENTS**||
|---|---|
||Page|
|**Reference and administrative details of the Charity, its Trustees and advisers**|1|
|**Trustees' report and Honorary Chairman's report**|2 - 9|
|**Independent examiner's report**|10 - 11|
|**Consolidated statement of financial activities**|12|
|**Consolidated balance sheet**|13|
|**Charity balance sheet**|14|
|**Notes to the financial statements**|15 - 27|
DocuSign Envelope ID: B1BD76EE-BA9F-4430-8E18-73BEDD813350
## **CHILD GROWTH FOUNDATION**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2021**
## **Trustees**
Mr Nick Child, Chairman Mrs Linda Washington, Treasurer Mrs Rachel Pidcock Mrs Laura Cadd Dr Chloe Lane Mrs Claire Langley (resigned 17 July 2021) Mr Stephen George Ms Jessica Watts Miss Georgia Child Ms Faye Lowe (appointed 24 July 2020) Mr Jeffrey Bolton (appointed 30 January 2021) Ms Clare Wood (appointed 17 April 2021) - Mr Anthony Leyton Thomas (appointed 16 October 2021)
## **Charity registered number**
1172807
## **Principal office**
21 Malvern Drive Warmley Sutton Coldfield B76 1PZ
## **Accountants**
Ryecroft Glenton 32 Portland Terrace Newcastle upon Tyne NE2 1QP
## **Bankers**
Barclays Bank PLC Leicester LE87 2BB
Metro Bank PLC 1 Southampton Row London WC1B 5HA
The Charity Bank Limited 182 High Street Tonbridge TN9 1BE
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## **CHILD GROWTH FOUNDATION**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2021**
The management committee of the Child Growth Foundation (“the Foundation” or “the CGF”) presents its report and the unaudited financial statements for the year ended 30 June 2021. The Foundation was formed on 18 February 2017 and registered by the Charity Commission on 28 April 2017.
The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the charity’s governing document, the Charities Act 2011 and the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
## **Description of Governing Document and Objects of the Charity**
The Foundation, a charity registered in England and Wales with registration number 1172807, and whose principal address is 21 Malvern Drive, Warmley, Sutton Coldfield, B76 1PZ, is governed by its Constitution and established to:
- Support and offer advice and information to all persons (either children or adults) affected by growth disorders and their families in any manner which is charitable in accordance with the law of the United Kingdom;
- Promote and fund research that will directly enhance the health, psychological wellbeing and education of those with growth disorders and to publish the results of such research;
- Educate the public in general and workers in the medical profession in particular in the problems and difficulties encountered by those with growth disorders, and
- Encourage the regular monitoring of growth and development criteria by medical professionals at all levels and facilitate such monitoring by identifying equipment suitable for the purpose.
## **Public benefit**
In accordance with Section 17 of the Charities Act 2011, the Trustees have given careful consideration to the Charity Commission’s general guidance on public benefit and in particular to continue maintaining its principal objects by providing funding for research into the causes and cure of certain growth disorders and education.
## **Risk statement**
The management committee has considered possible risks to the Foundation and is continuing, in the new Child Growth Foundation, to put plans in place to mitigate all major risks. Risks to funding have led to the development of a strategic plan which will allow for the diversification of funding and activities, whilst risks to expenditure are minimised by procedures for the authorisation of all transactions and projects and to ensure consistent quality in the delivery of all operational aspects of the charity. These procedures are under constant review to ensure that they remain effective.
## **Review of activities**
We are pleased to present details of the activities undertaken by the Foundation, the independent national charity caring for children who do not grow enough or grow too much, for the last year. Full details appear in the attached Chairman’s Report.
## **Investment policy and performance**
The Foundation placed its surplus cash on deposit with reputable financial institutions. It does not invest in equity investments.
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## **CHILD GROWTH FOUNDATION**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021**
## **Grant making policy**
The Foundation has established its grant making policy to achieve its objects for the public benefit by making grants to major medical establishments in the UK to fund research projects into growth disorders and related areas. Details of grants are given in note seven to the financial statements.
## **Details of Incoming Resources and Resources Expended**
Details of incoming resources and resources expended can be seen in the Statement of Financial Activities. For the group there were net outgoing resources for the period of £8,453 (2020: net outgoing resources of £54,124).
- The main sources of income in the period were:
- £54,203 of donations; and
- £50,864 of royalties.
## **Movement in funds**
Details of movements in funds (designated, unrestricted and restricted funds) are given in note 17 to the financial statements.
## **Reserves policy**
The current policy of the Foundation is to maintain general reserves (unrestricted funds) to a level equal to one year’s running costs (including funding of grants but excluding restricted fund spending) and this has been achieved. The general reserves at 30 June 2021 (including designated funds of £6,864) were £105,489 (of which £97,815 were in the Foundation itself). Restricted funds at 30 June 2021 were £27,771.
## **Going concern**
The financial statements have been prepared on the going concern basis, having regard to forecasts for the year ended 30 June 2022. The forecasts, which include cash flow projections, comprise reasonably detailed assumptions as to incoming resources and resources to be expended, and take account of different possibilities for grants payable to reflect the fact that further grants may be approved in due course.
The Trustees have considered the impacts of the coronavirus pandemic in their assessment and believe the going concern basis of accounting to be appropriate in preparing the annual financial statements.
## **Organisational Structure**
The management committee (see below) directs the overall management of the Foundation. The committee meets at regular intervals to review activities and to consider and agree plans for future progress.
The Foundation’s employees, under the supervision of the Honorary Chairman and the Honorary Treasurer, carry out the day to day activities.
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## **CHILD GROWTH FOUNDATION**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021**
## **Members of the management committee**
Members of the management committee who served as charity trustees during the year and up to the date of this report were as follows:
Mr Nick Child, Chairman Mrs Linda Washington, Treasurer Mrs Rachel Pidcock Mrs Laura Cadd Dr Chloe Lane Mrs Claire Langley (resigned 17 July 2021) Mr Stephen George Ms Jessica Watts Miss Georgia Child Mrs Faye Lowe (appointed 24 July 2020) Mr Jeffrey Bolton (appointed 30 January 2021) Ms Clare Wood (appointed 17 April 2021) Mr Anthony Leyton-Thomas (appointed 16 October 2021).
## **Appointment of the members of the management committee**
The management committee is made up of an Honorary Chairman, an Honorary Treasurer and (if possible) one or more representatives of each of the condition groups. Appointment is ratified at the annual general meeting in accordance with the Foundation’s constitution. Membership of the management committee is unpaid.
Members of the management committee have no beneficial interest in the Foundation.
## **Recruitment, induction and training of the members of the management committee**
When the need arises, the management committee seeks to recruit new (additional or replacement) members by asking for volunteers with appropriate skills (for example, financial, medical), experience (of the relevant condition or of the charity sector) and enthusiasm for supporting the Foundation. As stated above, appointment must be ratified at the next annual general meeting. The induction procedures include briefing new committee members on the history and objects of the Foundation, the committee and decision making processes, the current plans of the Foundation, and meeting other members and key employees. New members are provided with copies of Charity Commission guidance on acting as a trustee. Members are encouraged to attend appropriate external training events when this will facilitate the development of their role in the Foundation.
## **Related parties and connected organisations**
The Membership and Parent Support Manager, employed by the Foundation, is the wife of the Honorary Chairman and mother of one of the other Trustees.
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## **CHILD GROWTH FOUNDATION**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021**
## **Management committee’s responsibilities in relation to the financial statements**
The management committee is responsible for preparing the Management Committee 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 and Wales, the Charities Act 2011, the Charities SORP FRS 102 and the provisions of the Foundation’s Constitution requires the management committee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Foundation and the Group and of its incoming resources and application of resources for that period.
In preparing those financial statements, the management committee is required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable U.K. Accounting Standards have been followed, subject to any departures disclosed and explained in the financial statements, and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Foundation will continue in operation.
The management committee is responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the Foundation, and to enable it to ensure that the financial statements comply with the Charities Act 2011, the Charities SORP FRS 102 and the provisions of the Foundation’s Constitution. The management committee is also responsible for safeguarding the assets of the Foundation and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Independent Examination Information**
In so far as the Trustees are aware at the time this management committee’s report is approved:
- there is no relevant information of which the Foundation’s independent examiner is unaware; and
- the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the independent examiner is aware of that information.
Approved by the management committee on 21 March 2022 and signed on its behalf by:
## **Nick Child – Honorary Chairman**
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## **CHILD GROWTH FOUNDATION**
## **HONORARY CHAIRMAN’S REPORT FOR THE PERIOD ENDED 30 JUNE 2021**
## **Year Round Up:**
It is so strange to write this annual report while we are all still in the grip of the Covid-19 pandemic. I don’t think any of us saw this happening when we started watching news reports in January 2020 about a virus starting to spread in China! Over the last couple of years, we have all been affected and have all learnt to adapt and, I think, we have all become more resilient. There certainly seems to be a greater ‘coming together’ and a renewed sense of community.
The charity sector is no different, the times have been tough, but that adaptability and resilience has led to new thinking and new ways to support the people we are here for. ‘Virtual’ has become our guiding light and although we are all eager to be back in a more ‘physical’ world, learning gained over the last two years will stay with us and help shape future activities.
## **Information & Support**
The biggest news of the year for us was that for safety reasons, in the wake of uncertainty around ‘lock down’, and the possible impact of COVID on our members, we decided to cancel our Annual Convention. This is the highlight of the CGF calendar and is a chance to meet up with friends, old and new, so the cancellation was an extremely hard decision to make, albeit the right one. But, as with all things over the last couple of years, we adapted and in October 2020 we delivered our very first ever ‘Virtual Convention’.
We spread the event over three Saturdays and had good attendance at all. We were incredibly grateful to the support of the medical specialists who provided presentation sessions, either recorded or in person. We also had many of them available on the day for Q&A sessions which were very popular. It was a different experience to the usual convention, but through it we were still able to provide invaluable information.
Another popular form of support is our condition-specific closed Facebook groups. These safe spaces provide the opportunity for many concerned parents to get help, advice, guidance and to know that they aren’t on their journey alone. These groups continue to grow in popularity and use, and over the last year the number of people joining has risen by over 17%, as we welcomed over 600 new members to the groups.
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## **CHILD GROWTH FOUNDATION**
## **HONORARY CHAIRMAN’S REPORT FOR THE PERIOD ENDED 30 JUNE 2021**
## **Information & Support – cont’d**
The most exciting development in our service provision came towards the end of the year. For a long time, we have had the aspiration to provide the services of a Growth Nurse Specialist and thanks to generous support from Pfizer and the National Lottery Community Fund, we were able to recruit Paediatric Nurse, Sally Majid, into that role. We welcome Sally to the team and look forward to the development of the role that will see the implementation of a child growth measuring training programme to help highlight the importance of consistent and accurate measuring of children.
## **Awareness**
Increasing understanding of growth conditions, and the impact they have on people’s lives, remains a key focus for the Child Growth Foundation. As a small charity this is primarily done through social media channels, where once again we have seen significant growth and impact over the last year.
Our social media following rose by just over 15% this year. Instagram proved a particular hit with an increase in followers of over 28% on last year. The CGF website also saw incredible increases in traffic with over 44,000 users visiting it for information and support in the last 12 months, this is up 15% on the year before. Our message is being heard and we are delighted to be generating such awareness for the rare conditions we support.
Our campaign for this year’s International Child Growth Awareness Day saw a week-long visual delivery of information and learning through our social media channels. The strapline “Good Growth = Good Health” was used to deliver key facts about growth, awareness for a number of growth conditions, and to share personal experiences. The activities during that week reached over 25,000 people, up an incredible 43% on the year before.
The bottom line of all this activity is that more people are hearing about us, and more people are reaching out to us for support. Our membership base also grew substantially, with membership up by 45% on the previous year.
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## **CHILD GROWTH FOUNDATION**
## **HONORARY CHAIRMAN’S REPORT FOR THE PERIOD ENDED 30 JUNE 2021**
## **Research**
The Child Growth Foundation’s commitment to research was demonstrated again in 2020/21 as we continued funding towards the project run by the University of Southampton. We are delighted with the outcomes of this work. It has made an important and significant contribution to the existing literature and has improved understanding of the genetics of Silver-Russell syndrome.
Another project being supported is the Manchester BabyGRO Study, which has resumed following a short break. This study is exploring IUGR (intrauterine Growth Restriction) and preventable disease risks and aims to uncover the factors in utero that may lead to later life illness.
As well as funding research we take an active role in the recruitment of participants to projects and the dissemination of the latest findings. Supporting research remains a vital element of our work to help improve the quality of lives of those we help.
## **Governance**
The end of the 2019/2020 financial year saw three of our long-standing trustees step down and take a well-earned rest. This left a few vacancies that we were eager to fill. Having a well-rounded and multi-skilled trustee board is essential for the successful running of the charity. We are delighted to announce that three eager volunteers stepped forward and have joined the Board.
Clare Wood joined the Board having been associated with the CGF for 20 years; she brings a wealth of knowledge relating to Sotos Syndrome and will be invaluable as we look to build services and support for this condition. Faye Lowe, another long-term friend of the CGF, has also become a trustee and will add her knowledge of growth hormone deficiency to the group. The third new recruit is Jeff Bolton, who was the European Marketing Director for Pfizer and has over 30 years’ experience in the pharmaceutical industry.
Despite the pandemic and the ‘lockdown and release’ yoyo of the last 12 months, the Board has still met regularly, virtually of course, and continued to be an effective unit. Monthly updates and ‘Zoom’ meetings have ensured that our focus didn’t slip. There will still be physical board meetings but the ease at which virtual alternatives have entered our working practice means they are here to stay.
## **Finance**
This financial year has brought an upturn of income compared to last year. We know that the impact of the global pandemic on finances in the charity sector has been extreme. Sadly, many charities didn’t make it through the ‘tough times’. At the start of the year, we were not completely sure of what to expect. More of this latest financial year was spent in lockdown than the previous year and hardship was hitting many more people. But our resilience and adaptability came to the fore again and coupled with the amazing support we receive from our members and supporters we are happy to say that the financial situation is a lot stronger than last year.
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## **CHILD GROWTH FOUNDATION**
## **HONORARY CHAIRMAN’S REPORT FOR THE PERIOD ENDED 30 JUNE 2021**
Our income for the 2020/21 year was just over £105,000, that is up around 13% on the previous year, which is quite an achievement in the current climate. Expenditure was almost £114,000 which meant an operating deficit of around £8,500 which was projected in line with our financial commitments to research projects. Our bank balance is safe and healthy, and in line with our policy on reserves, which all means we are in a strong position as a charity.
This, of course, is all testament to the love and support we receive. We are constantly amazed, and delighted, by the efforts of the many people who fundraise and donate to us. There are so many to say thank you to, and we do through our magazine ‘CGF News’. But we wanted to give special mention to an amazing fundraiser, Jesse Wiffen. Leading up to Christmas Eve, 2020, Jesse wanted to raise £10 for us by telling a joke-a-day for ten days.
With the threat of Christmas being **Jesse’s Jokes** ‘cancelled’ this appeared to be the What does a wizard perfect tonic and Jesse’s jokes use to fix their wand? made us forget the situation for a **‘Spell-O-Tape’** little while. By the time the final laughs died down from the 10[th]
joke, Jesse had raised a truly staggering £2,000. Thank you Jesse. Thank you for cheering us when we needed it most.
We would also like to say thank you to the pharmaceutical companies supporting our work, Pfizer and Novo Nordisk have contributed to projects we have delivered this year and as a small charity that support is so valued.
Finally, we would also like to say a very big thank you for the continued support from Harlow Publishing and Seca. Royalty support from these two companies is the lifeblood of our charity, it is invaluable to the work we do, and makes a big difference in many people’s lives.
Nick Child – Honorary Chairman
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## **CHILD GROWTH FOUNDATION**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 JUNE 2021**
## **Independent examiner's report to the Trustees of Child Growth Foundation ('the Group')**
We report to the charity Trustees on our examination of the consolidated accounts of the Group comprising the Child Growth Foundation ('the parent Charity') and its subsidiary undertakings for the year ended 30 June 2021.
## **Responsibilities and basis of report**
As the Trustees of the parent Charity you are responsible for the preparation of the consolidated accounts of the Group in accordance with the requirements of the Charities Act 2011 ('the 2011 Act') and you have chosen to prepare consolidated accounts for the Group. You are satisfied that the accounts of both parent Charity and the Group are not required by charity law to be audited and have chosen instead to have an independent examination.
We report in respect of our examination of the consolidated accounts carried out under section 152 of the Charities Act ('the 2011 Act'). In carrying out our examination we have followed the Directions given by the Charity Commission under section 152(5)(b) of the 2011 Act.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently we express no option as to whether the consolidated accounts present a 'true and fair' view and our report is limited to those specific matters set out in the independent examiner's statement.
## **Independent examiner's statement**
Your attention is to drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). This is 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.
We understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.
We have completed our examination. We confirm that no matters have come to our attention in connection with the examination giving us cause to believe:
1. accounting records with respect to the parent Charity were not kept as required by section 130 of the 2011 Act and with respect to its subsidiaries as required by section 386 of the Companies Act 2006; 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.
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)].
We 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.
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## **CHILD GROWTH FOUNDATION**
## **INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021**
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. Our work has been undertaken so that we might state to the Charity's Trustees those matters we are required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent Charity and the Charity's Trustees as a body, for our work or for this report.
Signed:
Detlev Anderson FCA
Dated: 21 March 2022
Ryecroft Glenton Chartered Accountants 32 Portland Terrace Newcastle upon Tyne NE2 1QP
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## **CHILD GROWTH FOUNDATION**
## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2021**
|**Note**
**Income from:**
Donations and legacies
3
Charitable activities
4
Investments
5
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2021**
**£**
**32,148**
**50,864**
**267**
**83,279**
**18,224**
**85,901**
**104,125**
**(20,846)**
**126,335**
**(20,846)**
**105,489**|**Restricted**
**funds**
**2021**
**£**
**22,055**
**-**
**-**
**22,055**
**-**
**9,662**
**9,662**
**12,393**
**15,378**
**12,393**
**27,771**|**Total**
**funds**
**2021**
**£**
**54,203**
**50,864**
**267**
**105,334**
**18,224**
**95,563**
**113,787**
**(8,453)**
**141,713**
**(8,453)**
**133,260**|_Total_
_funds_
_2020_
_£_
_55,100_
_38,200_
_-_
_93,300_
_19,070_
_128,354_
_147,424_
_(54,124)_
_195,837_
_(54,124)_
_141,713_|
|---|---|---|---|---|
The Consolidated statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 15 to 27 form part of these financial statements.
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## **CHILD GROWTH FOUNDATION**
## **CONSOLIDATED BALANCE SHEET AS AT 30 JUNE 2021**
|**Note**
Tangible assets
12
**Current assets**
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within one
year
15
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Restricted funds
17
Unrestricted funds
17
**Total funds**|**12,714**
**136,587**
**149,301**
**(16,041)**|**2021**
**£**
**-**
**-**
**133,260**
**133,260**
**133,260**
**27,771**
**105,489**
**133,260**|_12,783_
_150,146_
_162,929_
_(21,216)_|_2020_
_£_
_-_|
|---|---|---|---|---|
|||||_-_
_141,713_|
|||||_141,713_|
||||||
|||||_141,713_|
|||||_15,378_
_126,335_|
||||||
|||||_141,713_|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................ ................................................ **Mr Nick Child, Honorary Chairman Mrs Linda Washington, Treasurer**
## Date: 21 March 2022
The notes on pages 15 to 27 form part of these financial statements.
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## **CHILD GROWTH FOUNDATION**
## **CHARITY BALANCE SHEET AS AT 30 JUNE 2021**
|**Note**
**Fixed assets**
Investments
13
**Current assets**
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within one
year
15
**Net current assets**
**Total assets less current liabilities**
**Net assets excluding pension asset**
**Total net assets**
**Charity funds**
Restricted funds
17
Unrestricted funds
17
**Total funds**|**12,714**
**136,587**
**149,301**
**(24,715)**|**2021**
**£**
**1,000**
**1,000**
**124,586**
**125,586**
**125,586**
**125,586**
**27,771**
**97,815**
**125,586**|_12,783_
_150,146_
_162,929_
_(29,890)_|_2020_
_£_
_1,000_|
|---|---|---|---|---|
|||||_1,000_
_133,039_|
|||||_134,039_|
|||||_134,039_|
||||||
|||||_134,039_|
|||||_15,378_
_118,661_|
||||||
|||||_134,039_|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
|................................................|................................................|
|---|---|
|**Mr Nick Child**|**Mrs Linda Washington**|
## Date: 21 March 2022
The notes on pages 15 to 27 form part of these financial statements.
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## **CHILD GROWTH FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021**
## **1. General information**
Child Growth Foundation is a Charitable Foundation (Registration number 1172807) whose principal address is 21 Malvern Drive, Warmley, Sutton Coldfield, B76 1PZ.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Accounting 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 the relevant version of the 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) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Child Growth Foundation 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.
The Consolidated statement of financial activities (SOFA) and Consolidated balance sheet consolidate the financial statements of the Charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.
## **2.2 Going concern**
The financial statements have been prepared on the going concern basis, having regard to forecasts for the year ended 30 June 2022. The forecasts, which include cash flow projections, comprise reasonably detailed assumptions inclusive of as to incoming resources and resources to be expended, and take account of different possibilities for grants payable to reflect the fact that further grants may be approved in due course.
The Trustees have considered the impacts of the coronavirus pandemic in their assessment and believe the going concern basis of accounting to be appropriate in preparing the financial statements.
## **2.3 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.
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DocuSign Envelope ID: B1BD76EE-BA9F-4430-8E18-73BEDD813350
## **CHILD GROWTH FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021**
## **2. Accounting policies (continued)**
## **2.4 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.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.
## **2.5 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **2.6 Tangible fixed assets and depreciation**
All assets costing more than £500 are capitalised.
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, .
Depreciation is provided on the following basis:
- Office equipment 25% per annum straight-line
## **2.7 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Consolidated statement of financial activities.
## **2.8 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.9 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 16
DocuSign Envelope ID: B1BD76EE-BA9F-4430-8E18-73BEDD813350
## **CHILD GROWTH FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021**
## **2. Accounting policies (continued)**
## **2.10 Liabilities**
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.
## **2.11 Financial instruments**
The Group 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2.12 Pensions**
The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year.
## **2.13 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 Group 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 Group 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.
Investment income, gains and losses are allocated to the appropriate fund.
Page 17
DocuSign Envelope ID: B1BD76EE-BA9F-4430-8E18-73BEDD813350
## **CHILD GROWTH FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021**
## **3. Income from donations and legacies**
|**Unrestricted**
**funds**
**2021**
**£**
Donations
30,802
Convention
-
Other
1,346
32,148
_Total 2020_
_34,405_|**Restricted**
**funds**
**2021**
**£**
22,055
-
-
22,055
_20,695_|**Total**
**funds**
**2021**
**£**
**52,857**
**-**
**1,346**
**54,203**
_55,100_|_Total_
_funds_
_2020_
_£_
_46,989_
_4,297_
_3,814_|
|---|---|---|---|
||||_55,100_|
|||||
## **4. Income from charitable activities**
|**Unrestricted**
**funds**
**2021**
**£**
Royalties receivable
50,864
**Investment income**
**Unrestricted**
**funds**
**2021**
**£**
Investment income - local cash
267|**Total**
**funds**
**2021**
**£**
**50,864**
**Total**
**funds**
**2021**
**£**
**267**|_Total_
_funds_
_2020_
_£_
_38,200_|
|---|---|---|
|||_Total_
_funds_
_2020_
_£_
_-_|
## **5. Investment income**
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DocuSign Envelope ID: B1BD76EE-BA9F-4430-8E18-73BEDD813350
## **CHILD GROWTH FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021**
## **6. Expenditure on charitable activities**
|HHHHCost of seminars and convention
HHHHBank charges and interest
HHHHFund-raising costs
HHHHGeneral expenses
HHHHGrants payable (note 7)
HHHHHealth Sketch
HHHHIndependent examination and book-keeping
HHHHInsurance
HHHHNewsletters
HHHHOffice overheads
HHHHStaff costs (note 9)
HHHHTravel and accommodation
HHHHTotal 2020|**Family &**
**Grants**
**Member**
**Management &**
**Total**
_Total_
**payable**
**support**
**Convention**
**Fundraising**
**Administration**
**2021**
**2020**
**£**
**£**
**£**
**£**
**£**
**£**
_£_
**0**
**0**
_14,165_
**275**
**275**
_317_
**153**
**153**
_1,257_
**1,140**
**205**
**1,345**
_1,655_
**41,164**
**41,164**
_51,972_
**0**
_0_
**3,436**
**3,436**
_2,430_
**494**
**494**
_474_
**3,697**
**3,697**
_4,166_
**1,416**
**2,704**
**4,120**
_3,776_
**26,190**
**18,071**
**14,557**
**58,818**
_64,616_
**285**
**285**
_2,596_|
|---|---|
||**41,164**
**33,222**
**0**
**18,224**
**21,177**
**113,787**
_147,424_|
||_51,972_
_44,492_
_14,165_
_19,070_
_17,725_
_147,424_|
Page 19
DocuSign Envelope ID: B1BD76EE-BA9F-4430-8E18-73BEDD813350
## **CHILD GROWTH FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021**
## **7. Grants payable**
|University of Southampton
Peter Clayton
University of Sheffield - (Freeth)
**8.**
**Independent examiner's remuneration**
Fees payable to the Charity's independent examiner in respect of:
Preparation of financial statements
Independent examination
Payroll services|**2021**
**£**
**33,664**
**7,500**
**-**
**41,164**
**2021**
**£**
**1,150**
**930**
**1,356**|_2020_
_£_
_44,472_
_7,500_
_-_|
|---|---|---|
|||_51,972_|
|||_2020_
_£_
_1,340_
_1,090_
_-_|
## **9. Staff costs**
|**Group**
_Group_
**Charity**
**2021**
_2020_
**2021**
**£**
_£_
**£**
Wages and salaries
**55,332**
_59,172_
**55,332**
Social security costs
**-**
_1,779_
**-**
Other pension costs
**3,486**
_3,665_
**3,486**
**58,818**
_64,616_
**58,818**
The average number of persons employed by the Charity during the year was as follows:
**Group**
**2021**
**No.**
Employees
**3**|_Charity_
_2020_
_£_
_59,172_
_1,779_
_3,665_|
|---|---|
||_64,616_
_Group_
_2020_
_No._
_3_|
No employee received remuneration amounting to more than £60,000 in either year. Key management remuneration for the period amounted to £43,374 (2020: £49,843).
Page 20
DocuSign Envelope ID: B1BD76EE-BA9F-4430-8E18-73BEDD813350
## **CHILD GROWTH FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021**
## **10. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2020 - £NIL)_ .
During the year ended 30 June 2021, no Trustee expenses have been incurred _(2020 - £526)_ .
## **11. Taxation**
All income of the Child Growth Foundation is charitable and is applied for charitable purposes and is therefore exempt from corporation tax.
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DocuSign Envelope ID: B1BD76EE-BA9F-4430-8E18-73BEDD813350
## **CHILD GROWTH FOUNDATION**
|**NOTES TO THE FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 30 JUNE 2021**||
|---|---|
|**12.**
**Tangible fixed assets**
**Group and Charity**
**Cost or valuation**
At 1 July 2020
At 30 June 2021
**Depreciation**
At 1 July 2020
At 30 June 2021
**Net book value**
At 30 June 2021
_At 30 June 2020_
**13.**
**Fixed asset investments**
**Charity**
**Cost or valuation**
At 1 July 2020
At 30 June 2021|**Office**
**equipment**
**£**
**1,056**
**1,056**
**1,056**
**1,056**
**-**
_-_
**Unlisted**
**investments**
**£**
**1,000**
**1,000**|
The above investment comprises shares in the wholly owned dormant subsidiary company CGF Products Limited.
Page 22
DocuSign Envelope ID: B1BD76EE-BA9F-4430-8E18-73BEDD813350
## **CHILD GROWTH FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021**
## **14. Debtors**
|**Group**
**2021**
**£**
**Due within one year**
Other debtors
**1,824**
Royalties receivable
**10,890**
**12,714**
**Creditors: Amounts falling due within one year**
**Group**
**2021**
**£**
Amounts due to group undertakings
**-**
Other taxation and social security
**2,657**
Other creditors
**5,046**
Accruals - grants payable
**8,338**
**16,041**|_Group_
_2020_
_£_
_1,824_
_10,959_
_12,783_
_Group_
_2020_
_£_
_-_
_2,603_
_4,413_
_14,200_
_21,216_|**Charity**
**2021**
**£**
**1,824**
**10,890**
**12,714**
**Charity**
**2021**
**£**
**8,674**
**2,657**
**5,046**
**8,338**
**24,715**|_Charity_
_2020_
_£_
_1,824_
_10,959_|
|---|---|---|---|
|||||
||||_12,783_|
||||_Charity_
_2020_
_£_
_8,674_
_2,603_
_4,413_
_14,200_|
|||||
||||_29,890_|
## **15. Creditors: Amounts falling due within one year**
## **16. Financial instruments**
|**Financial assets**
Financial assets measured at amortised cost
**Financial liabilities**
Financial liabilities measured at amortised
cost|**Group**
**2021**
**£**
**12,714**
**Group**
**2021**
**£**
**13,384**|_Group_
_2020_
_£_
_12,783_
_Group_
_2020_
_£_
_18,613_|**Charity**
**2021**
**£**
**12,714**
**Charity**
**2021**
**£**
**13,384**|_Charity_
_2020_
_£_
_12,783_|
|---|---|---|---|---|
|||||_Charity_
_2020_
_£_
_18,613_|
Financial assets measured at amortised cost comprise royalties receivable and other debtors.
Financial liabilities measured at amortised cost comprise accruals for grants payable and other creditors.
Page 23
DocuSign Envelope ID: B1BD76EE-BA9F-4430-8E18-73BEDD813350
## **CHILD GROWTH FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021**
## **17. Statement of funds**
## **Statement of funds - current year**
|**Balance at 1**
**July 2020**
**£**
**Unrestricted funds**
**Designated funds**
Designated Funds
**40,528**
**General funds**
General Funds
**85,807**
**Total Unrestricted funds**
**126,335**
**Restricted funds**
Pfizer
**2,300**
Novo Nordisk
**4,910**
Hamamelis Trust
**1,018**
Merck Serono Limited
**6,150**
Diurnal Limited
**1,000**
Society of Endocrinology
**-**
NovoNordisk
**-**
National Lottery Grant -
**-**
Pfizer
**-**
**15,378**
**Total of funds**
**141,713**|**Income**
**£**
**Expenditure**
**£**
**-**
**-**
**83,279**
**(104,125)**
**83,279**
**(104,125)**
**-**
**(2,300)**
**-**
**-**
**-**
**(1,018)**
**-**
**-**
**-**
**-**
**2,250**
**(2,250)**
**5,605**
**(3,190)**
**10,000**
**(904)**
**4,200**
**-**
**22,055**
**(9,662)**
**105,334**
**(113,787)**|**Transfers**
**in/out**
**£**
**(33,664)**
**33,664**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**Balance at**
**30 June**
**2021**
**£**
**6,864**|
|---|---|---|---|
||||**98,625**|
||||**105,489**|
||||**-**
**4,910**
**-**
**6,150**
**1,000**
**-**
**2,415**
**9,096**
**4,200**|
||||**27,771**|
||||**133,260**|
Restricted funds represent the balance of incoming resources received which are to be used to fund the production of educational materials (e.g. newsletters, awareness packs), specific research, other grants payable, or a specific event (the annual convention) or activity (e.g. update the website).
Designated funds represent amounts in respect of grants approved by the trustees, where work has not commenced at the balance sheet date. Transfers between designated funds and general funds represent the increase/(decrease) in amounts needed to fund grants approved by the trustees where work has not commenced at the balance sheet date. Once work commences, provision is made within general funds for the amount approved by the trustees.
Page 24
DocuSign Envelope ID: B1BD76EE-BA9F-4430-8E18-73BEDD813350
## **CHILD GROWTH FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021**
## **17. Statement of funds (continued)**
## **Statement of funds - prior year**
|**Unrestricted funds**
**Designated funds**
Designated Funds
**General funds**
General Funds
**Total Unrestricted funds**
**Restricted funds**
Pfizer
Novo Nordisk
Anton Jurgens Charitable Trust
Hamamelis Trust
Merck Serono Limited
Diurnal Limited
**Total of funds**|_Balance at_
_1 July 2019_
_£_
_85,000_
_110,837_
_195,837_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_195,837_|_Income_
_£_
_-_
_72,605_
_72,605_
_4,600_
_4,910_
_2,000_
_2,035_
_6,150_
_1,000_
_20,695_
_93,300_|_Expenditure_
_£_
_-_
_(142,107)_
_(142,107)_
_(2,300)_
_-_
_(2,000)_
_(1,017)_
_-_
_-_
_(5,317)_
_(147,424)_|_Transfers_
_in/out_
_£_
_(44,472)_
_44,472_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_|_Balance at_
_30 June_
_2020_
_£_
_40,528_|
|---|---|---|---|---|---|
||||||_85,807_|
||||||_126,335_|
||||||_2,300_
_4,910_
_-_
_1,018_
_6,150_
_1,000_|
||||||_15,378_|
||||||_141,713_|
Page 25
DocuSign Envelope ID: B1BD76EE-BA9F-4430-8E18-73BEDD813350
## **CHILD GROWTH FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021**
## **18. Summary of funds**
## **Summary of funds - current year**
|**Balance at 1**
**July 2020**
**£**
Designated funds
**40,528**
General funds
**85,807**
Restricted funds
**15,378**
**141,713**
**Summary of funds - prior year**
_Balance at_
_1 July 2019_
_£_
Designated funds
_85,000_
General funds
_110,837_
Restricted funds
_-_
_195,837_|**Income**
**£**
**Expenditure**
**£**
**-**
**-**
**83,279**
**(104,125)**
**22,055**
**(9,662)**
**105,334**
**(113,787)**
_Income_
_£_
_Expenditure_
_£_
_-_
_-_
_72,605_
_(142,107)_
_20,695_
_(5,317)_
_93,300_
_(147,424)_|**Transfers**
**in/out**
**£**
**(33,664)**
**33,664**
**-**
**-**
_Transfers_
_in/out_
_£_
_(44,472)_
_44,472_
_-_
_-_|**Balance at**
**30 June**
**2021**
**£**
**6,864**
**98,625**
**27,771**|
|---|---|---|---|
||||**133,260**|
||||_Balance at_
_30 June_
_2020_
_£_
_40,528_
_85,807_
_15,378_|
|**Summary of funds - prior year**||||
|Designated funds
General funds
Restricted funds||||
||||_141,713_|
## **19. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2021**
**£**
Current assets
121,530
Creditors due within one year
(16,041)
**Total**
105,489|**Restricted**
**funds**
**2021**
**£**
27,771
-
27,771|**Total**
**funds**
**2021**
**£**
**149,301**
**(16,041)**|
|---|---|---|
|||**133,260**|
Page 26
DocuSign Envelope ID: B1BD76EE-BA9F-4430-8E18-73BEDD813350
## **CHILD GROWTH FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021**
## **19. Analysis of net assets between funds (continued)**
## **Analysis of net assets between funds - prior year**
|Current assets
Creditors due within one year
**Total**|_Unrestricted_
_funds_
_2020_
_£_
_147,551_
_(21,216)_
_126,335_|_Restricted_
_funds_
_2020_
_£_
_15,378_
_-_
_15,378_|_Total_
_funds_
_2020_
_£_
_162,929_
_(21,216)_
_141,713_|
|---|---|---|---|
## **20. Related party transactions**
The Membership and Parent Support Manager, employed by the Foundation, is the wife of the Honorary Chairman and mother of one of the other Trustees and was paid a salary of £17,558 (2020: £25,118) including employer pension contributions.
There was a balance outstanding of £8,674 (2020: £8,674) due to CGF Products Limited (the Foundation's wholly owned subsidiary) at the year-end comprising an interest free loan from CGF Products Limited.
Page 27