Docusign Envelope ID: 51F1A33A-A488-4FBB-A042-6A4BEEBE76BF
Charity number: 1172807
CHILD GROWTH FOUNDATION
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
Docusign Envelope ID: 51F1A33A-A488-4FBB-A042-6A4BEEBE76BF
CHILD GROWTH FOUNDATION
| CONTENTS | |
|---|---|
| Page | |
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Chair'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 - 27 |
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CHILD GROWTH FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2024
Trustees
Mr Jeffrey Bolton, Chair Mr Stephen George, Treasurer Mrs Laura Cadd (resigned 23 October 2023) Mr Nick Child (resigned 16 December 2024) Mr Anthony Leyton-Thomas Mrs Rachel Pidcock (resigned 16 December 2024) Mrs Linda Washington (resigned 15 January 2024) Ms Jessica Watts Ms Clare Wood - Ms Vanessa Boulanger Twigg (appointed 16 December 2024) Ms Hannah Cumming (appointed 16 December 2024)
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
CHAIR'S STATEMENT FOR THE YEAR ENDED 30 JUNE 2024
The Chair presents his statement for the year.
I am pleased to share the Child Growth Foundation (CGF) Chair’s Report, for the year ending 30th June 2024.
Following the previous year’s changes to its organisational and operational structures, this financial period was characterised by renewed ambition and a focus on strengthening our foundations and getting things done. There was a renewed sense of responsibility and the need to meet deadlines, and the staff did an amazing job in delivering an immense level of support for the families whom the CGF supports.
Governance
The reorganisation of the existing CGF staff roles and recruitment of an additional staff member, during the previous fiscal year, clearly paid off in this current period. Catriona, the charity manager, and Laura, Sally, and Lisa, with their newly defined roles and complementary talents and skills, performed as an extremely effective team, and delivered a very impressive range of valued support for families affected by growth conditions.
Catriona, who has a wealth of charity experience and expertise, continued to bring much needed change to our organisation, and gave considerable time to ensuring all the charity’s policies and procedures were updated and current.
This period was also the first full year of staff and Trustees operating and collaborating within designated steering committees: Communication and Marketing, Education and Training, Information and Support, Fundraising and Engagement, Research, and Governance and Financial Control, which again proved to be highly effective and successful. The steering committees facilitated improved feedback, greater motivation and involvement of Trustees alongside staff, and there was more efficient initiation and progression of projects.
It was unfortunate and sad, however, that the CGF received the resignation of two valued Trustees, Laura Cadd and Linda Washington, during this period. Both Laura and Linda had contributed hugely to the work of the CGF, for many years, and we were all deeply sorry that their other commitments prevented them from continuing as Trustees. The CGF expressed their deepest appreciation and gratitude for their service to the CGF and were very reassured by their expressions of the desire and intention to continue to stay involved with the charity. The CGF now intends to recruit new Trustees and will target and, hopefully, attract people with certain needed skills.
Awareness , Education, Information and Support
A major focus during this period was the CGF’s development of a response to the low level of awareness of growth issues for families grappling with growth concerns. Families often ignore or delay addressing concerns over their child’s growth, and, when they eventually share their concerns with their GP, who usually doesn't have an adequate understanding of growth conditions, it is not uncommon for their concerns to be dismissed or referral of their child to a specialist to be delayed. The CGF, therefore, undertook the development of a campaign, involving both programmes of public advertising and GP education, to encourage families to act on their growth concerns and to provide encouragement and guidance to GPs on when to refer suspected children to a growth expert.
The public awareness advertising campaign was developed in collaboration with a highly respected medical advertising agency and funded by a major pharmaceutical company, and will be rolled out, in a variety of formats, next budget year. The GP education programme took the form of a series of CPD accredited education webinars, hosted by online education platform Pulse 365 and funded by pharma, and the first one was hosted by Professors Helen Storr and Justin Davies, at the end of this financial period. The GP education programme will continue in the coming years.
The direct information and support the CGF provides to families remained paramount and this increased and expanded during this period. We responded to an increased number of patient telephone and e-mail queries through our nurse led Support Line and developed an expanded, and often unique, range of CGF patient
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CHAIR'S STATEMENT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024
education and support materials, both printed and video. We continued to exploit our communication channels, including social media, to raise awareness of growth conditions, and address their challenges. We also hosted a successful annual convention in October 2023. The feedback from the convention was extremely appreciative of the CGF’s continued inclusion of the valued scientific sessions and of the introduction of presentations and discussions on newly relevant topics.
The CGF was again keen to expand its collaboration with medical and healthcare experts, and related organisations and charities, this year, which was reciprocated with significant expert support. The CGF continued to actively participate in meetings of the British Society for Paediatric Endocrinology and Diabetes (BSPED)’s Growth Disorders Special Interest Group and the International Coalition of Organizations Supporting Endocrine Patients (ICOSEP) and participated in theirs and a range of other scientific meetings and congresses.
Research
Once again, there was neither resource nor opportunity for the initiation of new clinical research projects in this period. However, instigating, and collaborating on, clinical 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.
In anticipation of future research opportunities, the members of the CGF Research Steering Committee dedicated some time to reviewing and updating CGF’s ‘Research Funding Protocol’ document and to the development of a longer-term research wish-list and funding plan / strategy for 2024/2025 onwards. Also, based on their extensive lived experience, several members of the steering committee were able to significantly contribute to the research needed for the development of several patient support materials, for example, the ‘Transition: Silver-Russell Syndrome’ guidance document.
It is now anticipated that less expensive data driven research, including consequential surveys of CGF members, will become more of a priority for the CGF. The 2023/2024 calendar year was certainly a period when the CGF placed an even greater emphasis on the emotional and behavioural impacts of growth conditions, and these areas will inevitably require much more research.
Finance and Income Generation
Our income for the 2023/2024 budget year increased from the previous year to circa £168k and our overheads for the budget year increased to £135k. This increase in income, in the face of the current economic climate and fundraising challenges, is a testament to the much appreciated support, donations and fundraising the charity has received from individuals, groups and organisations. We hold healthy reserves to conduct all planned activities.
The CGF continued to drive, and be innovative in, fundraising activities and have an incredible and grateful community that continue to support us. Members, Trustees and supporters took part in sponsored events, such as the London Marathon, a Lands’ End to John O’Groats cycle challenge and an Ultra Marathon, and, instigated their own fundraising activities, with families, in workplaces and more. We continued to see an increase in income generation from social media platforms and will plan to increase this activity.
We also continued to 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. The CGF initiated discussions with Harlow Printing and Seca, to investigate opportunities for greater collaboration and expansion of activities that deliver our royalties, and these discussions are ongoing.
The increase in overheads from 2022/2023 reflect increased salaries and a significant increase in the cost of the CGF’s subsidy of its annual convention, which is hugely appreciated by families who attend and which,
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CHAIR'S STATEMENT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024
without doubt, is the highlight event of the year.
This period also saw a more collaborative approach taken with pharma companies, identifying projects of mutual interest and benefit, which clearly paid off by a significant increase in our restricted funding.
Finally , I want to express my appreciation and gratitude to all the staff and Trustees of the CGF for their unfailing commitment and hard work 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 and growth concerns.
Mr Jeffrey Bolton - Chair 3 April 2025
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CHILD GROWTH FOUNDATION
TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2024
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 2024. The Foundation was originally established in 1977. The Foundation, in its current legal structure, was formed on 18 February 2017 and registered by the Charity Commission as a charitable incorporated organisation (CIO) 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 50 Peacock Road, Kings Heath, Birmingham, B13 0NY, 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 funding expert information and support for children and their families affected by growth conditions and growth concerns, raising vital awareness, supporting healthcare professionals and enabling research.
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 supporting children, young people, adults and families affected by growth conditions and growth concerns. Full details appear in the attached Chair’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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TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024
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 £33,222 (2023: net outgoing resources of £19,491).
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The main sources of income in the period were:
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£100,393 of donations and grants; and
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£49,859 of charitable activities.
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 2024 were £143,782. Restricted funds at 30 June 2024 were £30,440.
Going concern
The financial statements have been prepared on the going concern basis, having regard to forecasts for the year ended 30 June 2024. 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.
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 Chair and the Honorary Treasurer, carry out the day to day activities.
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TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024
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, Chair Mr Stephen George, Treasurer Mrs Laura Cadd (resigned 23 October 2023) Mr Nick Child (resigned 16 December 2024) Mr Anthony Leyton-Thomas Mrs Rachel Pidcock (resigned 16 December 2024) Mrs Linda Washington (resigned 15 January 2024) Ms Jessica Watts Ms Clare Wood Ms Vanessa Boulanger-Twigg (appointed 16 December 2024) Ms Hannah Cumming (appointed 16 December 2024).
Appointment of the members of the management committee
The management committee is made up of an Honorary Chair, an Honorary Treasurer, and Honorary ViceChair alongside a range of individuals including those with lived experience of a growth condition or concern. 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.
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TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024
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 3 April 2025 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 2024
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 2024.
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: 3 April 2025 8228AFA7794A4DC... Detlev Anderson FCA Kinnair Associates Limited Chartered Accountants Aston House Redburn Road Newcastle upon Tyne NE5 1NB
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STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2024
| Note Income from: Donations and legacies 3 Charitable activities 4 Investments 5 Other income 6 Total income Expenditure on: Raising funds Charitable activities Total expenditure 7 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2024 £ 79,223 49,859 2,292 2,942 134,316 6,835 107,994 114,829 19,487 124,295 19,487 143,782 |
Restricted funds 2024 £ 21,170 - - 12,600 33,770 - 20,035 20,035 13,735 16,705 13,735 30,440 |
Total funds 2024 £ 100,393 49,859 2,292 15,542 168,086 6,835 128,029 134,864 33,222 141,000 33,222 174,222 |
Total funds 2023 £ 31,661 53,297 887 1,954 87,799 9,052 98,238 107,290 (19,491) 160,491 (19,491) 141,000 |
|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 12 to 27 form part of these financial statements.
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BALANCE SHEET AS AT 30 JUNE 2024
| 2024 | 2024 | 2023 | ||||
|---|---|---|---|---|---|---|
| Note | £ | £ | ||||
| Fixed assets | ||||||
| Tangible assets | 12 | 246 | 491 | |||
| Investments | 13 | 1,000 | 1,000 | |||
| 1,246 | 1,491 | |||||
| Current assets | ||||||
| Debtors | 14 | 17,535 | 11,725 | |||
| Cash at bank and in hand | 169,213 | 141,540 | ||||
| 186,748 | 153,265 | |||||
| Creditors: amounts falling due within one | ||||||
| year | 15 | (13,772) | (13,756) | |||
| Net current assets | 172,976 | 139,509 | ||||
| Total assets less current liabilities | 174,222 | 141,000 | ||||
| Total net assets | 174,222 | 141,000 | ||||
| Charity funds | ||||||
| Restricted funds | 17 | 30,440 | 16,705 | |||
| Unrestricted funds | 17 | 143,782 | 124,295 | |||
| Total funds | 174,222 | 141,000 |
The financial statements were approved and authorised for issue by the Trustees on 03 April 2025 and signed on their behalf by:
Mr Jeffrey Bolton Mr Stephen George Chairman Treasurer
The notes on pages 12 to 27 form part of these financial statements.
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
1. General information
The 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.
The financial statements are presented in pounds Sterling and rounded to the nearest pound.
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 2025. 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.
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
2. Accounting policies (continued)
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.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
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.
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
2. Accounting policies (continued)
2.7 Tangible fixed assets and depreciation (continued)
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.
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.
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
2. Accounting policies (continued)
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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Docusign Envelope ID: 51F1A33A-A488-4FBB-A042-6A4BEEBE76BF
CHILD GROWTH FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
3. Income from donations and legacies
| Unrestricted funds 2024 £ Donations 76,813 Convention income 2,410 79,223 Unrestricted funds 2023 £ Donations 23,123 Convention income 3,538 26,661 |
Restricted funds 2024 £ 21,170 - 21,170 Restricted funds 2023 £ 5,000 - 5,000 |
Total funds 2024 £ 97,983 2,410 |
|---|---|---|
| 100,393 | ||
| Total funds 2023 £ 28,123 3,538 |
||
| 31,661 |
4. Income from charitable activities
| Unrestricted funds 2024 £ Royalties receivable 49,859 Unrestricted funds 2023 £ Royalties receivable 53,297 |
Total funds 2024 £ 49,859 |
|---|---|
| Total funds 2023 £ 53,297 |
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Docusign Envelope ID: 51F1A33A-A488-4FBB-A042-6A4BEEBE76BF
CHILD GROWTH FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
5. Investment income
| Unrestricted funds 2024 £ Investment income - local cash 2,292 Unrestricted funds 2023 £ Investment income - local cash 887 |
Total funds 2024 £ 2,292 |
|---|---|
| Total funds 2023 £ 887 |
6. Other incoming resources
| Unrestricted funds 2024 £ Sundry income 2,942 Sundry income |
Restricted funds 2024 £ 12,600 Unrestricted funds 2023 £ 1,954 |
Total funds 2024 £ 15,542 |
|---|---|---|
| Total funds 2023 £ 1,954 |
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Docusign Envelope ID: 51F1A33A-A488-4FBB-A042-6A4BEEBE76BF
CHILD GROWTH FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
7. Expenditure on charitable activities
| HHHHAdvertising HHHHBank charges and interest HHHHBook costs HHHHCost of seminars and convention HHHHDepreciation HHHHFund-raising costs HHHHGeneral expenses HHHHGP training HHHHGrants payable (note 8) HHHHIndependent examination and book-keeping HHHHInsurance HHHHNewsletters HHHHOffice overheads HHHHStaff costs (note 10) HHHHTravel and accommodation HHHHTotal 2023 |
Family Grants Information & Education & Management & Total Total payable support Convention Training Fundraising Administration 2024 2023 £ £ £ £ £ £ £ £ 175 175 0 440 440 424 3,791 3,791 0 15,163 15,163 12,435 245 245 246 1,336 1,336 1,186 3,866 3,054 6,920 6,203 10,000 10,000 0 0 0 429 3,473 3,473 3,182 683 683 537 4,529 4,529 3,835 775 2,824 3,599 2,825 24,520 5,499 51,346 81,365 69,258 3,145 3,145 6,730 |
|---|---|
| 0 41,309 15,163 10,000 6,835 61,557 134,864 107,290 |
|
| 429 36,372 12,435 0 9,052 49,002 107,290 |
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Docusign Envelope ID: 51F1A33A-A488-4FBB-A042-6A4BEEBE76BF
CHILD GROWTH FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
8. Grants payable
| Cognitiva Consultancy | 2024 £ - - |
2023 £ 429 |
|---|---|---|
| 429 |
9. Independent examiner's remuneration
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Charity's independent examiner in respect of: | ||
| Preparation of financial statements | 1,354 | 1,265 |
| Independent examination | 1,092 | 1,023 |
| Payroll services | 1,620 | 894 |
10. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2024 £ 78,430 582 2,353 81,365 |
2023 £ 66,625 - 2,633 |
|---|---|---|
| 69,258 |
The average number of persons employed by the Charity during the year was as follows:
| 2024 | 2023 | |
|---|---|---|
| No. | No. | |
| Employees | 4 | 4 |
No employee received remuneration amounting to more than £60,000 in either year.
Key management remuneration for the period amounted to £34,509 (2023: £36,508).
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Docusign Envelope ID: 51F1A33A-A488-4FBB-A042-6A4BEEBE76BF
CHILD GROWTH FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
11. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL) .
During the year ended 30 June 2024, expenses totalling £1,650 were reimbursed or paid directly to the 7 Trustees (2023 - £2,123 ). These were for travel expenses.
12. Tangible fixed assets
| Cost or valuation At 1 July 2023 At 30 June 2024 Depreciation At 1 July 2023 Charge for the year At 30 June 2024 Net book value At 30 June 2024 At 30 June 2023 |
Office equipment £ 2,038 |
|---|---|
| 2,038 | |
| 1,547 245 |
|
| 1,792 | |
| 246 | |
| 491 |
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Docusign Envelope ID: 51F1A33A-A488-4FBB-A042-6A4BEEBE76BF
CHILD GROWTH FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
13. Fixed asset investments
| Cost or valuation At 1 July 2023 At 30 June 2024 Net book value At 30 June 2024 At 30 June 2023 |
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.
14. Debtors
| Due within one year Other debtors and prepayments Royalties receivable |
2024 £ 7,566 9,969 17,535 |
2023 £ 1,724 10,001 |
|---|---|---|
| 11,725 |
15. Creditors: Amounts falling due within one year
| Bank overdrafts Amounts due to group undertakings Other taxation and social security Other creditors Accruals and deferred income |
2024 £ - 8,674 1,340 2,673 1,085 13,772 |
2023 £ 20 8,674 1,558 2,500 1,004 |
|---|---|---|
| 13,756 |
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Docusign Envelope ID: 51F1A33A-A488-4FBB-A042-6A4BEEBE76BF
CHILD GROWTH FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
16. Financial instruments
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Financial assets | ||
| Financial assets measured at fair value through income and expenditure | 170,213 | 142,540 |
Financial assets measured at fair value through income and expenditure comprise bank balances.
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Docusign Envelope ID: 51F1A33A-A488-4FBB-A042-6A4BEEBE76BF
CHILD GROWTH FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
17. Statement of funds
Statement of funds - current year
| Balance at 1 July 2023 £ Unrestricted funds Designated funds Designated Funds 1,489 General funds General Funds 122,806 Total Unrestricted funds 124,295 Restricted funds Novo Nordisk - HCP Awareness Project 4,910 Merck Serono Limited - Information Days 6,150 Diurnal Limited - Adrenal Insufficiency Pack 1,000 Novo Nordisk - GP Educational Programme - Grant - Kate's Bursary 2,645 Society of Endocrine - Patient Support/ Story Book Grant 2,000 Sandoz - Sponsorship of Awareness Campaign - Pfizer - GP Educational Programme - Grant - SRS Storybook Campaign - Diurnal - Pens/Support Line - Merck Serono Limited - GP Educational Programme - Sotos Storybook Campaign - 16,705 Total of funds 141,000 |
Income £ Expenditure £ - - 134,316 (114,829) 134,316 (114,829) - - - (867) 1,000 (1,678) 5,000 (3,333) - (440) - (2,000) 12,600 - 5,000 (3,333) 120 - 5,000 (5,000) 5,000 (3,334) 50 (50) 33,770 (20,035) 168,086 (134,864) |
Balance at 30 June 2024 £ 1,489 |
|---|---|---|
| 142,293 | ||
| 143,782 | ||
| 4,910 5,283 322 1,667 2,205 - 12,600 1,667 120 - 1,666 - |
||
| 30,440 | ||
| 174,222 |
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Docusign Envelope ID: 51F1A33A-A488-4FBB-A042-6A4BEEBE76BF
CHILD GROWTH FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
17. Statement of funds (continued)
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: 51F1A33A-A488-4FBB-A042-6A4BEEBE76BF
CHILD GROWTH FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
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 Novo Nordisk - HCP Awareness Project Merck Serono Limited - Information Days Diurnal Limited - Adrenal Insufficiency Pack National Lottery Grant Pfizer Kate's Bursary Society of Endocrine - Patient Support/ Story Book Grant Total of funds |
Balance at 1 July 2022 £ 1,489 145,297 146,786 4,910 6,150 1,000 1,125 520 - - 13,705 160,491 |
Income £ - 82,799 82,799 - - - - - 3,000 2,000 5,000 87,799 |
Expenditure £ - (105,290) (105,290) - - - (1,125) (520) (355) - (2,000) (107,290) |
Balance at 30 June 2023 £ 1,489 |
|---|---|---|---|---|
| 122,806 | ||||
| 124,295 | ||||
| 4,910 6,150 1,000 - - 2,645 2,000 |
||||
| 16,705 | ||||
| 141,000 |
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Docusign Envelope ID: 51F1A33A-A488-4FBB-A042-6A4BEEBE76BF
CHILD GROWTH FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
18. Summary of funds
Summary of funds - current year
| Balance at 1 July 2023 £ Designated funds 1,489 General funds 122,806 Restricted funds 16,705 141,000 Summary of funds - prior year Balance at 1 July 2022 £ Designated funds 1,489 General funds 145,297 Restricted funds 13,705 160,491 |
Income £ Expenditure £ - - 134,316 (114,829) 33,770 (20,035) 168,086 (134,864) Income £ Expenditure £ - - 82,799 (105,290) 5,000 (2,000) 87,799 (107,290) |
Balance at 30 June 2024 £ 1,489 142,293 30,440 |
|---|---|---|
| 174,222 | ||
| Balance at 30 June 2023 £ 1,489 122,806 16,705 |
||
| 141,000 |
19. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Unrestricted funds 2024 £ Tangible fixed assets 246 Fixed asset investments 1,000 Current assets 156,308 Creditors due within one year (13,772) Total 143,782 |
Restricted funds 2024 £ - - 30,440 - 30,440 |
Total funds 2024 £ 246 1,000 186,748 (13,772) |
|---|---|---|
| 174,222 |
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Docusign Envelope ID: 51F1A33A-A488-4FBB-A042-6A4BEEBE76BF
CHILD GROWTH FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
19. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior period
| Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Total |
Unrestricted funds 2023 £ 491 1,000 136,560 (13,756) 124,295 |
Restricted funds 2023 £ - - 16,705 - 16,705 |
Total funds 2023 £ 491 1,000 153,265 (13,756) 141,000 |
|---|---|---|---|
20. Related party transactions
The Membership and Parent Support Manager, employed by the Foundation until the end of October 2022, was the wife of one Trustee and mother of one of the other Trustees and was paid a salary of £nil (2023: £6,677) including employer pension contributions.
There was a balance outstanding of £8,674 (2023: £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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