DocuSign Envelope ID: 158D9DE2-96CE-4A8B-B1F5-6E8444E92B6D
Charity number: 1172807
CHILD GROWTH FOUNDATION
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022
DocuSign Envelope ID: 158D9DE2-96CE-4A8B-B1F5-6E8444E92B6D
CHILD GROWTH FOUNDATION
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Chairman's Statement | 2 - 4 |
| Trustees' Report | 5 - 8 |
| Independent Examiner's Report | 9 |
| Statement of Financial Activities | 10 |
| Balance Sheet | 11 |
| Notes to the Financial Statements | 12 - 25 |
DocuSign Envelope ID: 158D9DE2-96CE-4A8B-B1F5-6E8444E92B6D
CHILD GROWTH FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2022
Trustees
Mr Jeffrey Bolton, Chairman Mr Stephen George, Treasurer Mrs Laura Cadd Miss Georgia Child (resigned 8 November 2022) Mr Nick Child Dr Chloe Lane (resigned 14 September 2022) Mrs Claire Langley (resigned 17 July 2021) - Mr Anthony Leyton Thomas (appointed 16 October 2021) Ms Faye Lowe (resigned 24 August 2022) Mrs Rachel Pidcock Mrs Linda Washington Ms Jessica Watts Ms Clare Wood
Charity registered number
1172807
Principal office
50 Peacock Road Kings Heath Birmingham B13 0NY
Accountants
Kinnair Associates Limited Chartered Accountants Aston House Redburn Road Newcastle upon Tyne NE5 1NB
Bankers
Barclays Bank PLC Leicester LE87 2BB
Metro Bank PLC 1 Southampton Row London WC1B 5HA
The Charity Bank Limited Fosse House 182 High Street Tonbridge TN9 1BE
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CHILD GROWTH FOUNDATION
CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 30 JUNE 2022
The Chairman presents his statement for the year.
I am very pleased to share my first Child Growth Foundation (CGF) Chair’s Report, having become Chair of our Board of Trustees during this financial year.
As we entered the 2022 calendar year, we reached our charity’s 45th anniversary. Since being founded in 1977, the CGF have supported thousands of children, adults and families affected by growth conditions, funded progressive research projects, and continued to raise much needed awareness and understanding of growth conditions. I am very proud to be undertaking this role of Chair of a charity, with such an impactful history and great plans and ambitions to continue to improve the lives of the children, adults, and families we support.
Governance
After many years of leading the charity from strength to strength, Nick Child decided to step down from his role as Chair. Nick volunteered an incredible amount of time and expertise over the years and drove the charity forward and brought about great change. Nick also played a key role as part of the Russell Silver Syndrome Global Diagnosis and Management Consensus and was instrumental to the CGF’s funding of high-level scientific research. On behalf of everyone at CGF, including our Trustees, staff, members, and volunteers, I want to express our enormous gratitude and appreciation to Nick for his significant contribution and enduring service to CGF. I am very pleased and reassured that Nick will remain as a CGF Trustee and I know he will continue to play a very active and key role in the work of the CGF.
I am very excited, and it’s a great privilege, to be appointed as the new Chair of the CGF, and I am grateful to Nick for his encouragement and support in my transition into the new role. I am really looking forward to working with the CGF Trustees, staff, members, and volunteers to fulfil the Chair role to the best of my ability, and to advance the aims of CGF and support the children, adults, and families we represent.
Whilst I have been a CGF Trustee for just under two years, I have been closely involved in growth conditions for 20 years. My interest in growth issues, and my commitment to play a part in ensuring children receive early treatment, developed during my former roles as a senior manager and director in a major pharmaceutical company. My pharmaceutical industry career has given me a great understanding and insight into the challenges facing families with children with growth conditions, and the hurdles they must often overcome to get an early diagnosis and treatment.
Trustee Jessica Watts has been appointed the new CGF Vice-Chair. Jess has a personal experience of a growth condition within her family and has already provided great commitment and support to the Child Growth Foundation, both as a volunteer and, for the last three years, as a Trustee. Jess brings a considerable amount of knowledge, enthusiasm and ideas to the Vice-Chair role and will work closely with me as Chair, the other Trustees, and staff, to ensure more guidance and support is given to families affected by growth conditions.
Anthony Leyton-Thomas became a CGF Trustee in October and strengthened our Board with his personal experience and knowledge of overgrowth. Anthony has also brought to the team his high level of communication skills and experience as a freelance writer and editor.
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CHILD GROWTH FOUNDATION
CHAIRMAN'S STATEMENT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022
Information, Support and Awareness
Thanks to one year funding gratefully received from The National Lottery, in the previous financial year, we were able to recruit a Growth Nurse Specialist, Sally Majid, on a one-year contract. Sally has made an enormous contribution to Child Growth Foundation during this time, by answering patient calls and email queries, attending various nurse and endocrine nurse meetings, and creating educational materials on the various conditions we support. Sally has been working constructively with several organisations, to share our knowledge and make a difference to patients living with growth conditions. In the current financial year, and as we continue to expand our collaborative work with healthcare professionals, medical experts, and related organisations, we were very pleased to be in the position to offer Sally a permanent position as a member of our team.
Examples of our collaborative work include our ongoing participation within British Society for Paediatric Endocrinology and Diabetes (BSPED)’s Growth Disorders Special Interest Group and our continued involvement, including our attendance at their annual congress, with International Coalition of Organizations Supporting Endocrine Patients (ICOSEP). We also hosted a highly successful ‘Virtual Information Day’ in March, when top experts joined and contributed to the sessions.
We also continued to significantly use our communication channels, including social media, to raise awareness of growth conditions, and especially during Children’s Growth Awareness Week. After our enforced virtual convention in 2020, our planned 2021 face-to-face convention also had to be cancelled due to the continuing high levels of COVID-19 cases, and we maintained support and community engagement to families through our closed Facebook groups and telephone and e-mail support.
Research
We were pleased to receive the final report from the CGF funded Manchester BabyGRO study, which examined the factors in pregnancy that impact on the risks of later-life illness that present in childhood. The findings of the report have important implications for the early identification of children born small, who may be at risk of developing health problems later in life, and would, therefore, benefit from closer and earlier followup. We anticipate that the findings of the research will be of significant benefit to, and positively impact, many families.
Instigating and facilitating research that will improve the outcomes and quality of life for children and families affected by growth conditions will remain an important part of the CGF’s work, and a key objective.
Finance and Income Generation
Our income for the 2021/2022 financial year increased from the previous year to circa £128k and our overheads for the financial year were £93k. Our operating surplus for the year was £35k.
Our fundraising activities and received legacy donations place us in a healthy position to face the year ahead. However, we are very aware of the impact that COVID-19 has had on some charity fundraising activities, and mindful of the shift towards new digital and virtual fundraising methods and activities.
As for so many charities, COVID-19 has taught us that it is vital to develop a diverse income generation plan. We will, therefore, continue to explore and expand our online fundraising methods, whilst recognizing more traditional methods are critical to our income generation, as evidenced by the CGF’s receipt of two generous donations, totalling over £38k.
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CHILD GROWTH FOUNDATION
CHAIRMAN'S STATEMENT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022
Fundraising from across our community of supporters and volunteers provides a high level of income throughout the year and is evidence of the incredible and greatly valued support the CGF receives. Sponsored running events, including the London Marathon, Great South Run, Brighton Marathon, Chester Marathon, and Manchester Marathon, proved, once again, to be very popular with runners who were keen to take on these challenges in the name and cause of the CGF.
We also receive a steady, and much appreciated, stream of income from our regular donors, and from our annual membership programme. We continued to receive royalties from Harlow Printing and Seca, which ensure that a large amount of our overheads can be funded and allow the continued distribution of key CGF growth related materials to the families that request and need them.
Finally, I want to express my appreciation and gratitude to all the staff and Trustees of the CGF for their incredible commitment and hard work, in very difficult circumstances, in ensuring that the CGF was able to continue to make a positive difference to the lives of children, and their families, affected by growth conditions. The need for reassurance and guidance for families with concerns about their child’s growth was almost certainly greater during the pandemic, when access to medical professionals was more restricted, and the CGF was very proud to be able to play its part and fulfil its role.
Towards the end of the year, the staff and Trustees held a series of meetings to review and develop new CGF Strategic and Operating plans. We reviewed and defined the challenges to our success and developed a range of critical strategies and activities that will allow the CGF to raise its voice and make an even bigger difference to the lives of families affected by growth conditions and our contribution to the advancement of the treatment of growth disorders.
Mr Jeffrey Bolton - Chairman Date: 18 March 2023
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CHILD GROWTH FOUNDATION
TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2022
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 2022. 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:
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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;
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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;
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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
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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 2022
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 charity there were net incoming resources for the period of £34,905 (2021: net outgoing resources of £8,453).
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The main sources of income in the period were:
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£73,144 of donations and legacies; and
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£54,444 of royalties.
Movement in funds
Details of movements in funds (designated, unrestricted and restricted funds) are given in note 16 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 2022 (including designated funds of £1,489) were £145,297. Restricted funds at 30 June 2022 were £13,705.
Going concern
The financial statements have been prepared on the going concern basis, having regard to forecasts for the year ended 30 June 2023. 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 2022
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 Jeffrey Bolton, Chairman Mr Stephen George, Treasurer Mrs Laura Cadd Miss Georgia Child (resigned 8 November 2022) Mr Nick Child Dr Chloe Lane (resigned 14 September 2022) Mrs Claire Langley (resigned 17 July 2021) Mr Anthony Leyton-Thomas (appointed 16 October 2021) Mrs Faye Lowe (resigned 24 August 2022) Mrs Rachel Pidcock Mrs Linda Washington Ms Jessica Watts Ms Clare Wood.
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 one Trustee and mother of one of the other Trustees.
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CHILD GROWTH FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022
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 of its incoming resources and application of resources for that period.
In preparing those financial statements, the management committee is required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable U.K. Accounting Standards have been followed, subject to any departures disclosed and explained in the financial statements, and
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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 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:
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there is no relevant information of which the Foundation’s independent examiner is unaware; and
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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 order of the members of the board of Trustees on 18 March 2023 and signed on their behalf by:
Mr Jeffrey Bolton Chairman
Mr Stephen George Treasurer
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CHILD GROWTH FOUNDATION
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 JUNE 2022
Independent Examiner's Report to the Trustees of Child Growth Foundation ('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
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:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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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: 18 March 2023 Detlev Anderson FCA
Kinnair Associates Limited
Chartered Accountants Aston House Redburn Road Newcastle upon Tyne NE5 1NB
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CHILD GROWTH FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2022
| 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 2022 £ 73,144 54,444 223 127,811 19,245 59,595 78,840 48,971 97,815 48,971 146,786 |
Restricted funds 2022 £ - - - - - 14,066 14,066 (14,066) 27,771 (14,066) 13,705 |
Total funds 2022 £ 73,144 54,444 223 127,811 19,245 73,661 92,906 34,905 125,586 34,905 160,491 |
Total funds 2021 £ 54,203 50,864 267 105,334 18,224 95,563 113,787 (8,453) 134,039 (8,453) 125,586 |
|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 12 to 25 form part of these financial statements.
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CHILD GROWTH FOUNDATION
BALANCE SHEET AS AT 30 JUNE 2022
| Note Fixed assets Tangible assets 11 Investments 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 Total net assets Charity funds Restricted funds 16 Unrestricted funds 16 Total funds |
12,899 163,058 175,957 (17,203) |
2022 £ 737 1,000 1,737 158,754 160,491 160,491 13,705 146,786 160,491 |
12,714 136,587 149,301 (24,715) |
2021 £ - 1,000 |
|---|---|---|---|---|
| 1,000 124,586 |
||||
| 125,586 | ||||
| 125,586 | ||||
| 27,771 97,815 |
||||
| 125,586 |
The financial statements were approved and authorised for issue by the Trustees on 18 March 2023 and signed on their behalf by:
Mr Jeffrey Bolton Chairman
Mr Stephen George Treasurer
The notes on pages 12 to 25 form part of these financial statements.
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CHILD GROWTH FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022
1. General information
Child Growth Foundation is a Charitable Foundation (Registration number 1172807) whose principal address is 50 Peacock Road, Kings Heath, Birmingham, B13 0NY.
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.
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.
These financial statements are in respect of the Charity only. The Charity is not required to prepare group accounts as the group headed by it is a small group.
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 2023. 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.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.
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CHILD GROWTH FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022
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 Charity'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 Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.6 Taxation
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
2.7 Tangible fixed assets and depreciation
Tangible fixed assets costing £500 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, .
Depreciation is provided on the following basis:
- Office equipment 25% per annum straight-line
2.8 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 Statement of Financial Activities.
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CHILD GROWTH FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022
2. Accounting policies (continued)
2.9 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.
2.10 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.
2.11 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.
2.12 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.13 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.
2.14 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.
Investment income, gains and losses are allocated to the appropriate fund.
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CHILD GROWTH FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022
3. Income from donations and legacies
| Unrestricted funds 2022 £ Donations 30,578 Legacies 39,360 Other 3,206 73,144 Unrestricted funds 2021 £ Donations 30,802 Other 1,346 32,148 |
Restricted funds 2022 £ - - - - Restricted funds 2021 £ 22,055 - 22,055 |
Total funds 2022 £ 30,578 39,360 3,206 |
|---|---|---|
| 73,144 | ||
| Total funds 2021 £ 52,857 1,346 |
||
| 54,203 |
4. Income from charitable activities
| Unrestricted funds 2022 £ Royalties receivable 54,444 Unrestricted funds 2021 £ Royalties receivable 50,864 |
Total funds 2022 £ 54,444 |
|---|---|
| Total funds 2021 £ 50,864 |
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DocuSign Envelope ID: 158D9DE2-96CE-4A8B-B1F5-6E8444E92B6D
CHILD GROWTH FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022
5. Investment income
| Unrestricted funds 2022 £ Investment income - local cash 223 Unrestricted funds 2021 £ Investment income - local cash 267 |
Total funds 2022 £ 223 |
|---|---|
| Total funds 2021 £ 267 |
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DocuSign Envelope ID: 158D9DE2-96CE-4A8B-B1F5-6E8444E92B6D
CHILD GROWTH FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022
6. Expenditure on charitable activities
| HHHHAdvertising HHHHBank charges and interest HHHHDepreciation HHHHFund-raising costs HHHHGeneral expenses HHHHGrants payable (note 7) HHHHIndependent examination and book-keeping HHHHInsurance HHHHNewsletters HHHHOffice overheads HHHHStaff costs (note 9) HHHHTravel and accommodation HHHHTotal 2021 |
Family & Grants Member Management & Total Total payable support Convention Fundraising Administration 2022 2021 £ £ £ £ £ £ £ 0 2,700 2,700 0 377 377 275 245 245 0 619 619 153 2,031 397 2,428 1,345 5,375 5,375 41,164 3,266 3,266 3,436 607 607 494 3,668 3,668 3,697 1,160 1,419 2,579 4,120 33,826 18,626 15,003 67,455 58,818 3,587 3,587 285 |
|---|---|
| 5,375 44,879 0 19,245 23,407 92,906 113,787 |
|
| 41,164 33,222 0 18,224 21,177 113,787 |
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DocuSign Envelope ID: 158D9DE2-96CE-4A8B-B1F5-6E8444E92B6D
CHILD GROWTH FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022
7. Grants payable
| University of Southampton Peter Clayton |
2022 £ 5,375 - 5,375 |
2021 £ 33,664 7,500 |
|---|---|---|
| 41,164 |
8. Independent examiner's remuneration
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Charity's independent examiner in respect of: | ||
| Preparation of financial statements | 1,150 | 1,150 |
| Independent examination | 930 | 930 |
| Payroll services | 1,186 | 1,356 |
9. Staff costs
| Wages and salaries Contribution to defined contribution pension schemes |
2022 £ 63,709 3,746 67,455 |
2021 £ 55,332 3,486 |
|---|---|---|
| 58,818 |
The average number of persons employed by the Charity during the year was as follows:
| 2022 | 2021 | |
|---|---|---|
| No. | No. | |
| Employees | 4 | 3 |
No employee received remuneration amounting to more than £60,000 in either year.
Key management remuneration for the period amounted to £40,801 (2021: £43,374).
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DocuSign Envelope ID: 158D9DE2-96CE-4A8B-B1F5-6E8444E92B6D
CHILD GROWTH FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022
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, expenses totalling £ 235 were reimbursed or paid directly to 2 Trustees (2021 - £NIL ). These were for travel expenses.
11. Tangible fixed assets
| Cost or valuation At 1 July 2021 Additions At 30 June 2022 Depreciation At 1 July 2021 Charge for the year At 30 June 2022 Net book value At 30 June 2022 At 30 June 2021 |
Office equipment £ 1,056 982 |
|---|---|
| 2,038 | |
| 1,056 245 |
|
| 1,301 | |
| 737 | |
| - |
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DocuSign Envelope ID: 158D9DE2-96CE-4A8B-B1F5-6E8444E92B6D
CHILD GROWTH FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022
12. Fixed asset investments
| Cost or valuation At 1 July 2021 At 30 June 2022 Net book value At 30 June 2022 At 30 June 2021 |
Unlisted investments £ 1,000 |
|---|---|
| 1,000 | |
| 1,000 | |
| 1,000 |
The above investment comprises shares in the wholly owned dormant subsidiary company CGF Products Limited.
13. Debtors
| Due within one year Other debtors Royalties receivable |
2022 £ 1,824 11,075 12,899 |
2021 £ 1,824 10,890 |
|---|---|---|
| 12,714 |
14. Creditors: Amounts falling due within one year
| Amounts due to group undertakings Other taxation and social security Other creditors Accruals and deferred income Grants accrued - individual |
2022 £ 8,674 3,128 4,401 1,000 - 17,203 |
2021 £ 8,674 2,657 5,046 - 8,338 |
|---|---|---|
| 24,715 |
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DocuSign Envelope ID: 158D9DE2-96CE-4A8B-B1F5-6E8444E92B6D
CHILD GROWTH FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022
15. Financial instruments
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Financial assets | ||
| Financial assets measured at fair value through income and expenditure | 164,058 | 137,587 |
Financial assets measured at fair value through income and expenditure comprise bank balances.
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DocuSign Envelope ID: 158D9DE2-96CE-4A8B-B1F5-6E8444E92B6D
CHILD GROWTH FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022
16. Statement of funds
Statement of funds - current year
| Balance at 1 July 2021 £ Unrestricted funds Designated funds Designated Funds 6,864 General funds General Funds 90,951 Total Unrestricted funds 97,815 Restricted funds Novo Nordisk 4,910 Merck Serono Limited 6,150 Diurnal Limited 1,000 NovoNordisk 2,415 National Lottery Grant - 9,096 Pfizer 4,200 27,771 Total of funds 125,586 |
Income £ Expenditure £ - (5,375) 127,811 (73,465) 127,811 (78,840) - - - - - - - (2,415) - (7,971) - (3,680) - (14,066) 127,811 (92,906) |
Balance at 30 June 2022 £ 1,489 |
|---|---|---|
| 145,297 | ||
| 146,786 | ||
| 4,910 6,150 1,000 - 1,125 520 |
||
| 13,705 | ||
| 160,491 |
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.
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DocuSign Envelope ID: 158D9DE2-96CE-4A8B-B1F5-6E8444E92B6D
CHILD GROWTH FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022
16. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds Designated funds Designated Funds General funds General Funds Total Unrestricted funds Restricted funds Novo Nordisk Merck Serono Limited Diurnal Limited NovoNordisk National Lottery Grant - Pfizer Hamamelis Trust Society of Endocrinology Pfizer Total of funds |
Balance at 1 July 2020 £ 40,528 78,133 118,661 4,910 6,150 1,000 - - - 1,018 - 2,300 15,378 134,039 |
Income £ - 83,279 83,279 - - - 5,605 10,000 4,200 - 2,250 - 22,055 105,334 |
Expenditure £ - (104,125) (104,125) - - - (3,190) (904) - (1,018) (2,250) (2,300) (9,662) (113,787) |
Transfers in/out £ (33,664) 33,664 - - - - - - - - - - - - |
Balance at 30 June 2021 £ 6,864 |
|---|---|---|---|---|---|
| 90,951 | |||||
| 97,815 | |||||
| 4,910 6,150 1,000 2,415 9,096 4,200 - - - |
|||||
| 27,771 | |||||
| 125,586 |
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DocuSign Envelope ID: 158D9DE2-96CE-4A8B-B1F5-6E8444E92B6D
CHILD GROWTH FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022
17. Summary of funds
Summary of funds - current year
| Designated funds General funds Restricted funds |
Balance at 1 July 2021 £ 6,864 90,951 27,771 125,586 Balance at 1 July 2020 £ Income £ 40,528 - 78,133 83,279 15,378 22,055 134,039 105,334 |
Income £ Expenditure £ - (5,375) 127,811 (73,465) - (14,066) 127,811 (92,906) Expenditure £ Transfers in/out £ - (33,664) (104,125) 33,664 (9,662) - (113,787) - |
Balance at 30 June 2022 £ 1,489 145,297 13,705 |
|---|---|---|---|
| 160,491 | |||
| Balance at 30 June 2021 £ 6,864 90,951 27,771 |
|||
| Summary of funds - prior year | |||
| Designated funds General funds Restricted funds |
|||
| 125,586 |
18. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2022 £ Tangible fixed assets 737 Fixed asset investments 1,000 Current assets 162,252 Creditors due within one year (17,203) Total 146,786 |
Restricted funds 2022 £ - - 13,705 - 13,705 |
Total funds 2022 £ 737 1,000 175,957 (17,203) |
|---|---|---|
| 160,491 |
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DocuSign Envelope ID: 158D9DE2-96CE-4A8B-B1F5-6E8444E92B6D
CHILD GROWTH FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022
18. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Fixed asset investments Current assets Creditors due within one year Total |
Unrestricted funds 2021 £ 1,000 121,530 (24,715) 97,815 |
Restricted funds 2021 £ - 27,771 - 27,771 |
Total funds 2021 £ 1,000 149,301 (24,715) 125,586 |
|---|---|---|---|
19. Related party transactions
The Membership and Parent Support Manager, employed by the Foundation, is the wife of one Trustee and mother of one of the other Trustees and was paid a salary of £14,192 (2021: £17,558) including employer pension contributions.
There was a balance outstanding of £8,674 (2021: £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.
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