CHARrrY REGISTRATION NUMBER: 117433 THE BRADLEY LOWERY FOUNDATION UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THE BRADLEY LOWERY FOUNDATION FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 Page Trustees, annual report Independent examiner's report to the trustees ststement of financial activities 10 Statement of financial position 11 Statement of cash flows 12 Notes to the financial statements 13-24
THE BRADLEY LOWERY FOUNDATION TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2024 The trustees present their report and the unaudited financial statements of th8 charity lor the year ended 31 March 2024. Reference and admlnlstrative detalls Registered charlty name The Bradley Lowery Foundallon Charlty registratlon number 1174333 Prlnclpal offl¢e 52-54 Mlddlè Slrget Blackhall TS27 4EA The tru5teg8 Mrs G. L. Lowery Mrs L. Murphy Mrs P. Thiflaway Mr P. C. Empson Mrs R. Harbron Gray Independent Exarnlner Torgérsèn$ Ea81 Sull$, Ground Floor Avalon Hous8 Sl Catherine's Court Sunderland SRS 3XJ
THE BRADLEY LOWERY FOUNDATION TRUSTEES. ANNUAL REPORT [ntinu&d) YEAR ENDED 31 MARCH 2024 Structure, governance and managgmgnt Governlng Document The Bradley Lowery Foundation is a standard registered charity which was registered on 22nd August 2017 and is governed by the trust deed dated 19th July 2017 as amended by deed dated 21 gt August 2017, and as amended on 26th July 2021. All malor declslons are made by the board of Iruslees. Recrultment, Induction and trainlng The board of trustees must include a minimum of 3 Irusteeg who are not employed by the charity. The urrenl trustees were all appointed when thg charily was first regiglered based on the knowledge, skills, qualifications and experi•n¢o that Ih6y could brlng to the charity. Future appointments will also be based on these attributes. On appoSnlmant trusl@8s are provlded wlth copies of the Charily Commi88ion Coég of Govèrnancè together with coples of the charity's governing documents lo ensure they havo an understanding of thelr responsibllllles. Where ne¢es$8ry furth6r Iraininglguidance will be givgn. The stsff members have completed several courses such as Safeguarding and GDPR. All staff members have the relevant DBS check5. Thls ensures the famllles are always kept safe. Each 81aff member has also undergon8 speGllic Iralnlng to enable them to fulfll thelr individual roles. Salary Levels of staff arg revléwod annually by the board, In Ilne wllh rate8 for similar poslllons. The CEO and COO are on a much lower salary as requested by them$¢lvo$ to others In a simllar POBlllon, please Bee wh¢r¢ trusl¢o$ researcheé salaries charity CEO'S www.Iheguardian.comlsociglylsalarysuNoyllabl&lO,12406,1042677,00.html. Organlsatlonal Structur8 Iqjru$reti',.*',:,'k,.¥i., Related Parties The related parties of the charity are the Iruslees as named in the Iruslees report above. Two of the trustees being Mrs G. L. Lowery and Mrs L. Murphy 8re also employees of the charity. These two trustees reeeive no remuneration for their position as trustee bul are remunerated and are reimbursed expenses as a result of their employment. When the charity began, the charity received significant donations from the Bradley Lowery Trust a Trust in which the trustee Mrs G. L. Lowery Is also a truste8.
THE BRADLEY LOWERY FOUNDATION TRUSTEES. ANNUAL REPORT fcontinueLIJ YEAR ENDED 31 MARCH 2024 Objectlves and actiyltlets Charity Alms and Oblectlvès The Bradley Lowery Foundation (BLFI offers financial and emotional Support lo the families of sick ¢hildren, most of these famllies are fundraising for treatment or equipment rnol available on the NHS In England and W81es. These include specialist therapies, specialised Irealmenl, or equipment. Some supported causes may n8ed to acces8 specialist treatment abroad, to access clinical trials only available in other countrles. The Bradley Lowery Foundation consulls with professional cllnlcians and trained thèrapists on 8 regular basis, we encourag8 parents lo ask the right questions lo ensure they make the best d@cision lor their child's health. Onc@ the paren18 have all the information, they can mgkg an informed ¢holGe of whioh Irealmenl option they wlll wish to pursue. The Bradley Lowery Foundation differs from other charities, we offer a personal service whlch involves meeting the famlly and Ihelr fundraising teams, we offer help and advice on an effecllve fundraislng ampaign. We have many media connections and ulilise thes@ to publici88 the campaigns In a positive manner. Famlli8s have peace of mind knowing money ralsed is being held by an establishèd charity in accordance with th8 Charlly Commission guidellnes, and know we 8re available lo contact al any glvon lime lo di8CUSS thelr campaign or r&c•lv9 SUPPOrt and guldanc8. During this year. we have actlvely started $upportlng adults who are sèeking fundralsing support for Irealm8nl for Ilfe Ilmiling conditions that arèn't currently avallable on Ihg NHS. Moving Into adult cancers has opened our eyes lo how our NHS rgally 18 limil8d wllh rogards lo Ireatm•nts. Families seeklng support from adults have all of the support wa offgr lo the children. Publle Benefit stat&mtsnt Du8 regard has b&•n p8ld to the publlG benefll guKiance publlshed by the Charlly Commlssion. Actlvltles The Bradley Lowèry Foundatlon Thè Bradley Lowery Foundation alms to help famlllas fundral8lng for trèalmgnt or equipm8nl, not available on the NHS. We aim lo gel bellerlsafer treatments for chlldren available on the NHS by funding vllal research and campaigning for n8w drugs and Irlals withln the UK. Supportlng Fvndralslng Campalgns Wè have supported a number of familles thls flnancial year to successfully raisg funé8 for thèir Gause8, whSch range8 from trgalmenl abroad, vltal equlpmenl such as Safe-space beds and aullsm assistance dogs. The Bradley Lowery Foundation support famllias In the followlng ways.. Supportlng the setup of fundraising campaign via JuslGivlng & JuslGiving text Managing all offline donallons paid directly into the chlld's account held by the Bradley Lowery Foundation Creallng fundraising tools Supporting social medSa posllngs Assisting with PR opportunities, settlng up interviews, taking interviews on behalf of the family to maximise the exposure for each campalgn Having staff available out of office hours as a polnt of contact for families We have a family support hub where families being 8UPPOrted by the Bradley Lowery Foundation carb speak to each other and gel much needed support Giving the families worldwide exposure using methods wa have gained We liaise with many other trusts and organisations who offer grants. and other forms of support lo ensure our families have a multitude of options available lo them We manage funds raised via BLF tools. paying invoices, sending out receipts of payment and thank you cards. this not only saves the famlly tlmÈ, bul it ensures donors that funds are being used for ils
THE BRADLEY LOWERY FOUNDATION TRUSTEES, ANNUAL REPORT (con(InuedJ YEAR ENDED 31 MARCH 2024 intended purpos8 W8 use our own social media lo kéep followers of each child up to date with each campaign Medlcal condition8 and illnesses we have already supported: Neuroblasloma DIPG Cerebral Palsy Downs Syndrome Global Development Delay Epilepsy Autism Hypermobllity Dlamond Blackfan Anaemia Stroke H8art Diseas8 -SPG15 Undiagnosed condillons We aim lo support ariy famlly who has conta¢led the Bradley Lowery Foundallon, who arg not already being supported by 8 registered charlly. Not every child needs lo r8i8e funds for Iraalmenl or equlpmenl. some children need txposure to encourage people to sign up lo Ihg donor reglsler. This Ss somethlng the Bradley Low¢ry FoundatSon ar8 more than happy lo advertise. As well as hoslln9 fundralslng campalgn8, W9 hav& acllvely canvassed and held reglslratlon8 for DKMS, the blood donor register. Wo speak frequently with other Gharities and organi$8lions that speclalis8 In Cerebral Palsy, Neurobla81oma and Autism, lo ensu our familles have th8 latest Information on Irlals and tr8atm8nls avallable. Our fundralsing team conllnue8 lo develop new Ideas for fundral8lng events. We contlnug lo make corporate connectSons wlth $ev8ral hl9h-proflle comp8nl86 and we wl11 conllnue lo develop these relationshlps. We conllnue to work wllh Gharilies such as St George's Soclety NYC, Clic Sargent, Rainbow Trugl, Neuroblasloma UK, Clothes Aid, Autism Dogs CIC, Abbl8s Army, Merlln's Magic Spaces, FTionds of Rosle, and many more. We believe worklng together you gain the best outcome for Ihe famllies we are supportlng. Holiday Home The Holiday Homa "Sup¢r Brad's Pad" Is starting lo take shape. We now have a roof to go with our walls, and windows are going in soon so thi8 wlll make thÈ htsme watertight for thè wlnlor. We have had a lol of support and dlscounls from businessgs who are supporting the build. The hollday home is being bullt to offer famllies an amazing memory maklng experlence wllh the whole family. The Bradley Lowery Foundatiorb believes that the whole family should be Involved in making special memories, so th8 holiday home is 5 double bedrooms wilh an open plan kllchen and living area. with 2 playrooms and an outside playroom which will be for adults and older ¢hlldren. As a charity we continue lo fundraise further to complete the build, we also maintain relationships wllh corporate partners as well, who continue to support the charity and the build.
THE BRADLEY LOWERY FOUNDATION TRUSTEES. ANNUAL REPORT (eontthved) YEAR ENDED 31 MARCH 2024 GTant.making Grants rnay be offered to families being supported by The Bradley Lowery Fourbdallon. Grants are appligd al the discretion of the Iruslees and are given on a need-by-need basis. To be eligible for a BLF grant, families must be supported by the BLF either wllh fundraising campaigns or emotionally. Volunteers The Bradley Lowery Foundallon has opportunities to become foundation champlons. Foundation champiDns work alongside BLF by attending and hosting fundraising events, by collecting donations given lo BLF, and supporting volunteers lo ensure their fundraising events go according lo plan. Each foundation champion will sign a BLF code of conduct and be issued with a uniform and ID card. BLF work closely with the foundation champions to ensure they are up lo d818 Wlth new projects and campaigns. If you would like to enquire to become a foundation champlon, please email conlacl@bradleyloweryfoundalion.com.
THE BRADLEY LOWERY FOUNDATION TRUSTEES. ANNUAL REPORT (Gontinuedj YEAR ENDED 31 MARCH 2024 A¢hievements and performance In the financial year ended 31 st March 2024 we raised total funds of £412,860 and generated a net defiGit of £65,045. We began the year with funds of £2,625.001. Between catching up from Covld and the cost of living crisis, Th8 BLF contlnue lo find innovative woys to fundrais8, thlnklng oulslde the box. We have worked with a couple of different charitSes lo hold loinl events throughout the year, namely a Cglgbrity footb811 match, which ralsed ovér £12,000 8ach for BLF and the Foundation of Llghl. Flnanclal revlew Flnanclal Po8ltlon During the year the charity raised £412,860. Charitable expenditure amounted lo £477.905 giving net deficit befor& transférs of £65,045. Reyerves Policy Al the reporting datè £676,950 was held In general unreslrlcted reserves. We plan lo hold unre81rfcted reserv8s lo cover the running costs of Ihg foundatlon for al least one financlal year, th1818 to ensure longevity of The Bradley Lowery Foundallon. The currenl lev61 of reserves wlll be used to meet future obleclives of thè eharily Includlng supportlng a partnership that will offer one to one telephone support for famili8$ sufferlng th8 effects of Cancer and funding roséareh proj8cls into Neuroblastoma and other chlldhood cancers. Adeslgnaled rè8ery6 to cover lundralsing and other bullding costs In respect of the hollday home including survey fees had a balance al the reportlng date of £253,748. Further funds may bè de8lgnaled lo the hollday hom$. A designated re8&rve was sgt up by transferrlng £50,000 in the financlal ygar ended 2019 from general reserves for all other childhood cancer research. This will be used lo fund differonl Qhlldhood cancer research prolects. A further £50.000 was transferred in April 2022 and had a balance al th9 reportlng dale of £100,000. A deslgnaled reserve was set up by transferrlng £50,000 in the finanGial year 8nd8d 2019 from general reserv8s lo support the running costs of the BLF support $ervi¢$. thi8 servlce provldes 1 to I support for familie8 In the North East aff8cl&d by chlldhood cancer, by offering out of hours counselllng seNice. All couns6llors ar8 fully tralned and accredited. The balance at the reporting date was £so,000. A designated reserv9, 11,5 Nice to be Nice. was set up by Ir8nsferring £50,000 In th¢ flnanelal year 2023 from gen8ral reserves. This will be used to offer a small gift or experioncg lo Ghildren who have spent a lol of lime in hospital. The balance st the reporting dale was £50,000. From inception the Bradley Lowery Foundation ha8 SUPPOrted a numbor of fundralslng campalgns each with their own specific purposes and oblectives. Al the reporting date the balance held In restricted reserves for these campaigns lotalled £1,529.260. RSsk Assessment and Mitlgatlon We conduct regular risk assessments as part of our straleglc plan, this Is Yevlewed on a Tegular basis and the team implement plans lo overcome the risks. To date the identified risks are: The job role can be physically and emoliornally draining on members of staff, due lo offering emotional support to families of very poorly children, this can weigh heavily on the staff member they are in close contact with. The need to continue lo ralse unrestrfcted funds to cover core costs and ensure longevity of the eharity-
THE BRADLEY LOWERY FOUNDATION TRUSTEES. ANNUAL REPORT (eonlinue¢l) YEAR ENDED 31 MARCH 2024 Being high profile in the media means demand for the service we offer Is very high, therefore having capacity lo support every family can become an issue. There is a large volume of fijnds currently coming through the foundation due to the ¢ampaigns we have, and we have limited staff members lo deal with them. The Iruslee8 have assessed the malor risks to which the charity is exposed, those related lo the operations and tinan¢e$ of the charity and are sallslied that systems and procedures are in place to mitigate our exposure lo major risks. To bgst mitigate the risks.. The Foundation decided il would be in tha bast interest of the staff lo offer counselling sessions from an independent counselling firm, so staff Can ensure their mental health Is proleelÈd. This is offered to all staff, and they are able lo access sesslons as 8nd when needed. Due to the high demand of the support we offer we are in the process of recruiting volunlegrs who will assist in fundraising events for the foundation and attending events on our behalf. We have multiplo foundation ehamplons who support BLF If a regular basis. The Bradl8y Lowery Foundation is high proflle and we have a high demand from campaigns that need support, this lakes up a lol of tlme. We do not refuse support and therefore have a proce88 and as such a waiting list, where famllles can still benefit from the financial aspect of thè foundation, bul 1 to 1 support from our staff members Is given on a case by case basis. -we continug a partnership wllh our PR company 1¢ manage and monllor mèdla enqulrle8 for all ¢ampalgn$. We conllnu8 to utlll8e Glft Aid Io cov8r the core co818 of runnlng the charlty. -we contlnuè lo hold unr88tricted reserves to cover 1 year of the core costs, this Ss 10 énsure that In the event of funding comlng In slowly, the charity can run as normal. We have worked closely wllh our legal team, and conllnuè to use our 8trlngent polloies and procedure5 regardlng co116cllons uslng the BLF charlly numb8r, all collectSons must go through BLF to book and arrange, and all collectlons need8 to be allo¢aled lo the supported causés accounts wllh a short timeframe, we also request collectors lo flll in paperwork regardlng thèir collecllons whlch 1$ sent lo BLF at the lime of depositing of funds. Wè have found this has worked well and colleelors undorsland the ruleg and r8gulatlons of worklng th a ¢harlly. Plans for future perlods We plan lo hol¢J unreslrlcled reserves to cover the running costs of the foundation for al laasl 2 nancial years, Ihls Is to ensure longevlty of the Bradley Low8ry Foundatlon. We hope In the future that funds raised via Glft Ald claimed, will malntain the majority of the runnlng eosls of the foundation, covering everyday costs such as salaries, rent and utility bills, so that funds ralsed via BLF wlll be used lo support families who are fundraising for treatment or equipment, grant applleallons and research. Wg will continue to have meetlngs règ8rding the holiday home. We will conllnue to support families, emollonally and financially. We wlll also continue lo create good working relationshlps with other charities, non-profits and buslnèssos lo ensure our families gel (he best support offered. TTUStees' responslbllltl8S gtatèmgnt The Iruslees ro$ponslble for preparing tho trusle8s' report and the financial statements In accordance wllh applicable law and Unlted Klngdom Accounllng Stsrbdards (United Kingdom Generally Aceep19d Accountin9 Practice). The law appllcable lo charities in England and Wales requires the chartty trusteès lo prepare financial slalemenls for each year whlch give a true and fair view of the slate of affairs of the charlly and of the incoming resources and appllcatlon of r9$0urce8. of the charity for that perlod. In preparing these financial stslemenls, tho Iru5tees are required to,. select suitable accounting policies and then apply tham consistently. observe the methods and principles in the applicable Charilles SORP. make judgments and accounting @stimates that are reasonable and prudent.
THE BRADLEY LOWERY FOUNDATION TRUSTEES, ANNUAL REPORT l¢oniinuedJ YEAR ENDED 31 MARCH 2024 statè whether applicable UK Accounting Stsndards have been followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on the going concern ba8ls unless11 Is inappropriale to presume that the Gharily will continu8 in buslness. The Iruslee8 ar& responsible for keeping adequate accounting records thal are sufficient to show and Èxplain the charity's transactions and disclose wllh reasonable a¢Guracy al any timg the financial PO811ion of thg charity and enable them lo ensure that the linan¢ial statements comply wlth the Charities Act 2011, the appllcable Charities IAccounts and Reports) Regulations. and the provislons of the Trust Deed. They are also responsible for safeguardlng the assets of the charity and hence for taking reasonable steps for the prevention and detaetlon of fraud and other egUlaritieS. The trustees, annual report was approved on , .,l.i.1fjA.Iu and signed on behalf of the board of trustees by: Mr8 L. Murphy Trustee Mr P. C. Empson Trustse
THE BRADLEY LOWERY FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BRADLEY LOWERY FOUNDATION YEAR ENDED 31 MARCH 2024 I report to the trustees on my examination of th8 financlal statements of The Bradley Ltswery Foundation I'the charity'l for the year ended 31 March 2024. Responslbllltles and basls of r8port As the Iruslees of the charity you are responsible for the preparallon of the financial statements in accordance with the requirements of the Charities Act 2011 I'lhe Act,). I report in respect of my examination of the charivs financi81 statements carrled out under section 145 of the 2011 Act and in carrying out my examlnalion I have followed all the appllcable Directions given by the Charlty Commission under secllon 1451Sllb) of the Act. Independent examlngr's statement Since the ¢harlly's gross Income exceeded £250,000 your examlnar must be a member of a body 118led in seGllon 145 of the 2011 A¢t. I confirm that l am qualifl•d to undertake the examination because l am a member of the Inslllute of Chartered A¢counlanls in England and WaSes IICAEW), which is one of the Ilsled bodies. I have complelod my @xaminallon. I confirm that no malerlal matlors have come to my attgnllon In connecllon with the examination glvlng m• cause lo belleve that In any mat8rlal resp$¢t'. accounting records were not kept In respect of the charity as requlred by se¢llon 130 of the A¢l', or the flnanclal statement8 do not accord wllh tho88 rg¢ord8: or Ihe fbnanclal statements do not comply wlth th6 appllGable requlrements con¢ornlng the form and conlenl of accounts sel out In the Charilles {Accounls and Reports) Regulations 2008 olhgr than any r8qLJirem8nl that the ac¢ounts glve a 'true and fair, vi¢w whlch Is not a matt8r considered as part of an Independent examinalS0n. I have no concerns and have come acro$$ no other m811ers in conn8ctlon with the examinallon to which allenlion should be drawn in Ihl8 rèport In order to enable a proper und9rsl8ndlng of the accounts to be reached. Alison Henshaw FCCA Indepenéent Examiner East Suite, Ground Floor Avalon House Sl Catherine's Court Sunderland SR5 3XJ 17/o8/4¢
THE BRADLEY LOWERY FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2024 2024 Restricted funds Total funds Total funds 2023 UnrestriGted funds Nots Income and endowments Donations and legacies Other tradlng activities Investment Income 175,941 35,245 353 176,348 11,402 13,571 201.321 352,289 46,647 13,924 392.671 51,169 3,164 447,004 Total incomo 211.539 412,860 Expendlture Expenditure on ralslng fijnds: Costs of raising donatlons and legacies Costs of other IradSng activiti68 Expendllure on charitable 8clivilie8 Total exp•ndltur• 6,924 21,638 310,873 339,435 6,924 21,638 449,343 477,905 7,151 34,315 908,288 9,10 138,470 138,470 949,754 Transfers 30,215 130,2151 Nèt èxpendlture and net movement In funds (97,6811 32,636 165.0451 1502,750) Reconc115atlon of funds Tol81 funds brought forward Total funds earrléd forNard 1,128,377 1,496,624 2.625,001 3,127,751 2,625,001 1,030,696 1,529,260 2,559,956 The stalemenl of financial acllvilies includes all gains and los$e$ recogn18ed In the year. All Sncome and expenditure derive from conllnulng aGllvllSos. Thg not85 on pages 13 to 24 form part of those financial statomonts. io
THE BRADLEY LOWERY FOUNDATION STATEMENT OF FINANCIAL POSITION 31 MARCH 2024 2024 2023 Note Flxed Assets Tangible fixed assets 16 414,885 105,485 Current Assèts stocks Debtors Cash at bank and in hand 17 18 2.718 5,066 2.150.445 4,097 9,614 2,540,167 2,158,229 2,553,878 Credltors: amounts falllng due wlthin one year Net Current Assats 13,158 34,362 2,519,516 2,145,071 Total Asséts Less Current Llabllltles 2,559,956 2,625,001 2,625,001 Nèt Assets 2,559,956 Funds of the Charlty Reslricled funds Unr981ricled funds 1,529,260 1,030.696 1,496,624 1,128,377 Total charlty funds 21 2,559,956 2,625,001 These flrnancial slalemenls were approved by the board of tru$lees and authorlsed for Issue on and are signed on behalf of the board by.. Mrs L. Murphy Trustee Mr P. C. Emp80n Trusteg CPL<< The notes on pages 13 to 24 form part of these financial stat8m•nts. 11
THE BRADLEY LOWERY FOUNDATION STATEMENT OF CASH FLOWS YEAR ENDED 31 MARCH 2024 2024 2023 Cash Flows from Operatlng Actlvltles Net expenditure 165,045} 1502,750) Adjuslm8nts for.. Depreclatlon of ian9ible fixed assets Other interest receivable and simllar Incom8 Interest payable arsd similar charges Accrued lincomellexpensés 1,862 {13,9241 1,283 {1,830) 1,844 13,164) 1,422 1,446 Chang8s in.. Stocks Trade 8nd other debtors Trade and other credltors 1,379 4,548 {19,374) {91.1011 1472,365) 648 6,678 21,511 Cash g6neraled from operatlons Interest pa1d Interest received {1,283) 13,924 {1,422) 3,164 Net cash used in oporatlng actlvltles 178,4601 1470,6231 Cash Flows from Investlng ActSvStle8 Purchase of langibla assets Net cash us•d In invesllng activities 1311,2621 {311,2821 197,6601 {97,6601 Net Decreage In Cash and Cash Equlval8nt8 Cash and Cash Equlvalents at Bèglnnln9 of Year Cash and Cash Equlvalents at End of Yoar 1389,7221 1568,2831 2,540,167 3,108,450 2,1SO,445 2,540,167 Th• notes on pages 13 to 24 form part of these flnanclal stalernents. 12
THE BRADLEY LOWERY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 General Informatlon The charity is a publiG benefit entity and a registered charlty in England and Wales and is unincorporaled. The address of the principal office is 52-54 Middle Stet. Bla¢khall. TS27 4EA. statement of Compllance These financial 8latemenls have been preparad in compliance wlth FRS 102, 'The Flnanclal Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to ¢harilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 Icharilies SORP {FRS 1021) and the Charities Act 2011. A¢counting Pollclès Basls of prèparatlon The flnanclal slalemenls have been prepareé on the hlstorlcal cost basss. Golng concem There are no malerlal urbCgrt8inlles about thè ¢harlty's ablllly to conllnue. Fund accountlng Unrestrfcled funds are available for use at tha d18crellon of the Irusl00s lo furth•r any of the charity's purpos88. De819nalgd fund$ aw unr8Strlcl&d funds earmarked by tha trustees for partl¢ular future prolecl or commitment. Reslrlcted funds are 8uble¢l8d lo rèslricllons on Ihelr expenditur8 declarod by the donor or through the terms of an appeal, and fall Into one of two sub-¢lasses'. reslricl8d income funds or endowment funds. InGomlng resourc08 All Income Is Included in the 51atem8nt of financSal actlvilles when gnli119m9nl has passed lo the charity, il is probable that the economic benetils associalÈd with the Iransactlon will flow lo the charlly and the amount can be rellably measured. The followlng spèclflc pollcles are applled lo partlcular categories of income.. Income from donations or grants Is r8cognlsed when there is evidenGe of enlillemenl lo the glft, receipt is probablg ond ils amount can be measured reliably. legacy income is r@eognised when receipt is probable and entitlèment Is establlshed. income fri donated goods Is measured at the fair value of the goods unless this is impractical to measure reliably. in which case the value Is derlved from the cost lo Ihe donor or the eslimaled resale value. Donated f8¢1111i@s and servlces are recognised in the accounts when received if the value can be r6liably measured. No amounts are included for the contribution of general volunteers. 13
THE BRADLEY LOWERY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (eonunued) YEAR ENDED 31 MARCH 2024 Accounting Policigs {¢ontlnu8d) Incoming resources (¢orttlntsed) income from contracts for th8 supply of services is recogni8ed with the delivery of the contracted service. This is classified as unreslricl8d funds urkless there is a contractual requirement for il to be spent on a particular purpose and returned if unspent, in which ease it may be regarded as re$lriGted. income relating lo specifi¢ ¢hildren's campaigns is predominantly recelved vla donallons and Is recognis8d when there is eviden¢e of enlillement lo the gift, receipt is probable and Ils amount can be measured reliably. Resource5 oxpended Expenditure is recognised on an accruals b881s as a liabillly 1$ InGurred. Expendllure includes 8ny VAT whlch cannot bo fully recovered, and is classified under headings of the statement of fjnanclal acllvlllas to whleh il relate8'. expenditure on raising lunds Includes the costs of all fundraSs1ng aGlivilies, events, non-charitable trading activilles, and the Sale of donated goods. expenéllure on charitable actlvllles Includes all costs Incurred by a charity in undertaking acllvilies that further ils charllable alms for the benefit of Ils beneficiaries, Sncludlng thos& support costs and co8ls relating lo tha gov&rnance of th8 charlty apportioned to charllab16 activities. other expenditure Includes all expendlture that Is nellher rèlated lo ralsing funds for the rharlly nor part of Ils expgndllure on charftable acllvlll&s. campaign expendllure rglatas to CO8ls incurred by the ¢h8rlty In line wSlh the speclllc Campaigns or funds transferred lo th@ campaign bgneflciary. All costs ar• allocated lo expandilure categorles reflecting the use of thè rosourcg. Direct costs allribulable to a slngle aclivlly are 8llocgled dlrerlly lo that aclivily, Shared costs are apportloned b81w8en the acllvllles they conlrlbule to on a reasonable, Iu811flable and Gonslslent basls. Grants payable lo beneficiarées ar& ineludèd in the SOFA when th8 ¢h8rity's obligation has been e81abll8h6d. The value of such grants that ar& unpaid at the perlod end is 8¢Grued. Operatlng leasès Lsase payments ar¢ recognised as an expense over the lease term on a slralght-line basis. The aggregate benefit of lease incentives is recogniséd as a reduction lo expense over the lease 18rm, on a slralght-llne basis. Tangible assets Tangible assets are ir)itially recorded at eosl. and subsequ&nlly staled at cost less any accumulated depreciation and impairment losses. Tangible assets relating to the holiday home are recorded al Gost and value of donated goods and labour less any depreciation and impaimienl losses. Depreciation Depreclatlon is calculated so as lo write off the cost or valuation of an asset, legs its r•sldual value, over the useful economic life of that asset as follows.. Improvements to landlords propety Fixtures and fittings Equipment Holiday Home 100A straight line 10% straight line 100A straight line Not depreciated as asset under course of construGlion 14
THE BRADLEY LOWERY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (conthiuedj YEAR ENDED 31 MARCH 2024 Accounting PollGles (Gontlnued) stocks Slo¢ks are measurad al the lower of cost and estimated s811ing price less costs to complete and sell. Cosl in¢Sudes all eosts of purchase, costs of conversion and other costs incurred in bringing the stock to ils ptssenl lo¢allon and condltion. Flnanclal Instruments Flnancial in8lrum8nts 8re classili8d and accounted for. according to the 8ub8tsn¢e of the conlraclual 3rrang@ment, as either financial assets. financial liabilities or eqvily instruments. An equity inslrum8nt is any contract that evidences a residual interest in the assets of the company after deducting all of its Ilabllllies. Oeflned contrlbutlon plans Conlribulions to defined conlribulion plan$ aré recognlsed a8 an expense in the period In whlch Ihe related service is provided. Prepaid conlribullons are recognlsed as an asset lo the 8xlenl that lh& prepayment will18ad lo a Taducllon In futur6 payment8 or a cash refund. When Gontribulions are not expected to be set118d wholly wlthln 12 months of the end of the reportlng dale In whlch the employees render the related servlGe. the liability 18 measured on a dis¢ounl&d present value basis. The unwinding of the dlscount 1$ re¢ognised a8 an expense in thg period In whlch It arlse8. Donatlons and Legacle8 Unreslricled Fund8 Reslrlcled Total Funds Funds 2024 Donatlons Donations and legacle8 recelved Just givlng donallons Facebook donation5 Donr text giving 73,620 100,015 2,216 90 88,375 87.877 161,995 187,892 2,216 186 96 Grants Grants re¢elv8ble 175,941 176,348 352,289 Unre81ricted Funds Restricted Total Funds Funds 2023 Donatlons Donations and18gacies received Just givin9 donatiorbs Facebook donations Donr text giving 48.382 81,853 4.390 1,741 98,910 152,081 147,292 233,934 4,390 2.418 677 Grants Grants receivable 4,637 4,637 136,366 256,305 392,671 15
THE BRADLEY LOWERY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (continuodj YEAR ENDED 31 MARCH 2024 Other Trading Activities Unrestricted Funds Restricted Total Funds Funds 2024 Fundraising even18 Shop income Enthuse fundraising donation8 30,968 2.605 1.672 11,264 138 42.232 2.743 1.672 35,245 11,402 46.647 Unr881ricled Funds Restricted Total Fund8 Funds 2023 Fundralslng events Shop income Enthu8e fundralsing donations 46,167 2.597 1,981 311 113 46,478 2.710 1,981 50,745 424 51,169 Investment Incomè Unre8lrlcled Fund8 Reslrlcted Total Funds Fund8 2024 Bank Interest re¢elvable 353 13,571 13,924 Unreslricled Fund8 R8slricled Total Fursds Funds 2023 Bank inl•res1 receivable 145 3,019 3,164 Costs of Ralslng Donatlons and Legacle$ Unrestrlcted Funds Reslrleled Totsl Funds Funds 2024 Donallons- Merchandise Donations- Campaigns Donations- Just Giving fees Donalion8- Paypal fees 434 434 6,336 154 6.336 154 6,924 6,924
THE BRADLEY LOWERY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (¢ontlnued) YEAR ENDED 31 MARCH 2024 Costs of RalsSng Donatlons and LegaGies Unrestrlcled Funds Restric18d Total Funds Funds 2023 Donation8- Merchandise Donalion8- Campaigns Donations- Just Glving fees Donalion8- Paypal fe&$ 13 13 6,857 280 6.857 280 7,151 7,151 Cogts of Other Trading Activitiès Unreslrlcled Total Funds Unrestricted Total Funds Funds 2024 Fund5 2023 Costs of other trading aclSvi118s- Shop costs Costs of other tradln9 aGtlvllle$- St8glng events 2,225 2,225 3,100 3,100 19,413 21,638 1S,413 31,215 31.215 21,638 34,315 34,315 Expendlture on Charltable Actlvltlos by Fund Typo Unrestrlcted Funds RestrScled Total Funds Funds 2024 Supporting fundralslng campaigns Holiday home Funding research proSoct$ Support costs 349 750 132,186 3,920 895 1.469 132,535 4,670 895 311,243 309,774 310,873 138,470 449,343 Unrgslricted Funds Reslricled Total Fund8 Fund8 2023 Supporting fundrai8ing campaign$ Holiday home Funding research projects Support GQ$t$ 32 340,427 2,831 225,585 918 340.459 2,831 237.755 327,243 12,170 326,325 338,S27 569,761 908,288 17
THE BRADLEY LOWERY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ftofttlmièd) YEAR ENDED 31 MARCH 2024 10. Expenditure on Charitable Actlvltles by Activity Typo Activiti8s undertaken Grant funding dlreclly of activities Support Total funds costs 2024 Total fund 2023 Supporting fundralslng campaigns Hollday home Fundlng research projects Governance costs 132,535 4,670 300.453 432.988 4.670 645,076 2,831 895 895 10,787 449,340 237,755 22,626 908.288 10,787 137,205 895 311,240 11. Analysls of Support Cost8 The Charity initially identifies the costs of ils 8LlPPOrt functions. 11 then identifi8s thosè costs whlch relate lo the governance function. Having identified 118 governance costs, tho remainlng SLJPPOrt costs logelhèr with the governance costs are apportioned be98n the thr88 key charllable 8cllvilies undertaken18e8 note 11 > In the year. All support costs relatlng to restrlcled Gampalgn$ are allocated directly and the remalnder of costs ar8 split 60 lo SUPPOrting fundralsing Gampaigns, 10°A holiday home and 30°h Bradley Low8ry Foundatlon. Analysls of Analy81s of support costs 8UPPOrt eos18 An8ly8is of supportlng Bradley 8UPPOrt COBIS fundralslng Lowery Hollday ampalgn8 Foundallon Hom& Tot#1 2024 Total 2023 Staff cog18 Premlse8 Communlcatlons and IT Genèral office Governance costs Support costs- Insuran¢e Support Gosls- Lggal Support ¢o$ls- Travel Support Costs - Bank charges and interest Support costs . Depreciation 136,946 10,101 1,440 10,571 6,473 91,548 5,051 1,188 5,286 3,236 19,427 2,200 240 1,762 1,079 247,921 17,352 2,868 17,619 10,788 245,348 16,885 4,300 21,686 22,626 5,173 42 1,548 2,586 21 774 862 287 257 8,621 350 2,579 8,801 2,577 1,774 835 338 110 1,283 1.422 1,117 559 186 1,862 311,243 1,844 327,243 174,246 110.587 26.410 12. Analysls of Grants 2024 2023 Grants to Institutions Grants to institutions 233,833 Grants to Individuals Grants to individuals 3,837 Total grants 237,670 18
THE BRADLEY LOWERY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ( contimied) YEAR ENDED 31 MARCH 2024 13. Net Expenditure Net expenditure is ststed after charginglloredillrvJl: 2024 2023 Depreciallon of tanglble fixed assels 1,862 1,844 14. Staff Costs The total staff costs and employee benefits for the reporting perlod are analysed as follows.. 2024 2023 Wages and salaries Soclal security costs Employer contributions to pènslon plans Other employee benefit$ 222,301 18,774 6,618 230 220,928 18.024 6.396 247,921 245,348 The average head count of employ••s during the year was 6 (2023., 7), The number of employees whose remuneratlon for the y•ar féll wllhin the following bands, were: 2024 2023 £60,000 10 £69,999 Koy Management Personnel Th8 key management personn61 of the charlty comprise two of the charlly's trustees and the Chief Flnanclal Offloer12023.' two of the charity's trustees and the Chlef Flnanclal Offi¢•rl. Durlng the currant yèar the key management personnel raeeived remuner8tion lotalling £194,037 12023.. £178,134) and were reimbursed for out of pocket expenses amounting to £846 12023.. £4341. 15. Trustee Rèmuneratlon and Expènses Trustees exp9nses paid during the year amounted lo £84612023: £4341 paid to two12023-. one) trustees in relmbursemenl of subsistence costs incurrgd. The Charlty Commission has given approval for the empltsymenl of Gemma Lowery as CEO. Her lolal remuneration for the year was £54,432 12023.. £50,400). Employer's National Insurance costs on this amounted to £4.966 12023.. £4,700). Employer's pension contribution$ on thls amounted to £1,633 (2023.. £1,512). The Charity Commlsslon has given approval for the employment of Lynn Murphy as Chief Operating Offlcer. Her total remuneration for the year was £51,03012023.. £47.2501. Employer's Natlonal Insurance costs on this amounted to £4,594 12023.. £4,340). Employerfs pension ¢onlrlbullons on Ihls amounted 10 £1.53112023.' £1,418). 19
THE BRADLEY LOWERY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (eoniinuedj YEAR ENDED 31 MARCH 2024 16. Tanglble Flxed As$etS Improvements to Landlord's Property Holiday Fixtures and Home fillings Equipment Total Cost At 1 Aprll 2023 Additions 3,770 94.812 311,087 405,899 7,865 6.813 175 113.260 311.262 At 31 March 2024 3,770 7,86S 6,988 424,522 Dèpreciation Al 1 Aprll 2023 Charge for the year 1,885 377 3,781 787 2,109 698 7,775 1,862 At 31 March 2024 2,282 4,568 2,807 9,637 Carrylng amount At 31 March 2024 1,508 405,899 3,297 4,181 414,885 At 31 March 2023 1,885 94,812 4,084 4,704 105,485 17. Stocks 2024 2023 Raw materials arbd Consumables 2,718 4,097 18. Debtors 2024 2023 Traée debtor$ Pr8paymgnls and accrued income 2,646 2,420 7,292 2,322 5.066 9,614 19. Crèdltors: amount$ falllng due wlthln one year 2024 2023 Accruals and deferred Income other creditors 9,600 3,558 11,430 22.932 13.158 34,362 20. Pen$lons and Other Post Retlrement Benefits Deflngd contrlbutlon plans The amount recognised in Incomo or Èxpenditurg 88 an expense in Telalion lo defined contribution plans was £6,61612023.. £6,396). 20
THE BRADLEY LOWERY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ieontlnued) YEAR ENDED 31 MARCH 2024 21. Analysls of Charltable Funds Unra$trlct•d funds At 31 March 20 24 Al 1 Aprll 2023 Income Exp8nditure Transfers General funds Designated Fund hollday home Designated Fund - Neuroblasloma UK Research Designated Fund - Childhood Can¢er Research Designated fund It'8 Nice to be Nlce Designated fund - 8LF Support Servlce 604,340 211,539 {312,7241 73,795 576,950 324,037 {26.362} 143,929) 253,746 100,000 100,000 50,000 13491 349 50,000 50,000 50.000 1,128,377 211,539 1339,4351 30,215 1,030,696 At 31 March 20 23 Al 1 Aprll 2022 Income Exponditure Transfer5 Gen&ral funds Deslgnalgd Fund - hollday home Designal&d Fund - Neuroblastoma UK Resèarch Designated Fund - Childhood Car)¢er Research Designated fund Il's Nlce to be Nice Designated fund - BLF Support Servi¢0 1,069,057 187,256 (345,8171 1306,1561 604,340 1553) (25,843} 350,433 324,037 8,333 18,333) 50,000 50,000 100.000 so,000 50,000 50,000 50.000 1,176,837 187,256 1379,9931 144.277 1,128,377 21
THE BRADLEY LOWERY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS fconilnu*dJ YEAR ENDED 31 MARCH 2024 21. Analysis of Charltable Funds {¢oneinuÉdJ De9ignaled Fund - Holiday Home - Thls fund was get up in order to raise funds lo enable to charity to build a holiday home for the children and their families to visit and enjoy preclous tim8 together. Designated Fund CIos8d bank accounts This fund was sel up by the charity for tran8paren¢y, to hold funds from closed accounts before transferring them Into the g&nèr81 fund. Dasignaled Funé - Neuroblastoma UK Research - Thls fund was set up In order to allow the charity lo contribute to research into Neuroblastoma. Deslgnaled Fund - Chlldhood Cancer Research Thls fund was set up in order to allow the charity lo contribute up lo £50.000 of match funds towards the r88earch into all Childhood Cancers. Designated Fund BLF Support SeTvlce This fund was sel up In order to enable tho charity lo provide a free confidential support Servic8 for parent8 and carers of children with canter in Ihg North East of England. De3lgnated Fund - It's Nice to b6 Nlce - Thls fund was 8el up In order lo offer a small glft or experience lo chlldron who have $penl a lot of time in hospital. These wlll range from a loy the hlld would Ilke, to a family day out lo make Speclal memorle8. 22
THE BRADLEY LOWERY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (condnuedj YEAR ENDED 31 MARCH 2024 21. Analysls of Charltable Funds (conllnyed) RestriGted funds At 31 March 20 24 At 1 April 2023 Income Expenditure Transfers Restricted Fund- Hollday Hom8 R8slricted Fund Children's campaigns Restricted fund - BLF Support s@rvice ReslriGted fund - BLF Research Fund Restricted fund - Adult campaigns Reslrlcted fund - Supportlng Campaign8- General 250.201 91.741 14,4371 63.185 400,690 1,232,552 87,980 (130.2261 185,4721 1.104,834 1,514 15 {7481 781 12,357 8,879 (9091 20,327 12,706 12,1501 (7.9281 2,628 1,496,624 201,321 1138,4701 130,215} 1,529,260 Al 31 March 20 23 Al 1 Aprll 2022 In¢ome Expenditure Transfer8 Restricted Fund- Holiday Home Restricted Fund - Children's Gampaigns Restricted fund - BLF Support Service Reslricled fund - YLF Researeh Fund Restricted fund Adult campaigns Restricted fund Supporting Camp#lgn$- General 306,711 20,063 13,2721 173,301 } 250,201 1,623,139 234,142 1556,1211 168,608} 1,232,552 4,259 21 {3681 12,3981 1,514 16,835 5,522 (10,000} 12,357 {301 1,950,914 30 259,748 {569,7611 1144,2771 1,496,624 23
THE BRADLEY LOWERY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {contlnu8dJ YEAR ENDED 31 MARCH 2024 21. Analysis of Charltable Funds (Gonllnugd) Holiday Hom8 - Money to build a hollday home for children an(f bereaved families. Children'g Campaigns Money ha8 been raised from 38 campaigns relating to 38 individual children. Each child has ils own largel and objective bul all of them relale lo the provision of speciali81 equipment or medical Ir8alm8nt not available from the NHS. Further information can be found about each of the campaigns by visiting th8 websSle www.bradleyloweryfoundallon.¢om. As shown above, £85,472 was transferred from the foundats'ons unrestricted funds lo the chlldr6n's campaigns. Adult'8 Campaigns hAoney has been raised from 4 campalgns relallng to 4 Individual adults. Each adult has Ils own target and objectiv& bul all of them relate lo the provision of specialist equlpmenl or medical treatment not available from the NHS. Further Informallon ean be found about each of the campaigns by visillng the website www.bradleyloweryfoundalion.com. As shown above, £7,928 was transferred from the foundalion5 unreslricled funds to the adult's campalgns, BLF Support Service - Money lo pay for the BLF Support SeNlce that wlll be provlded to parents and carers of children with cancer in the North East of England. BLF Research Fund - Money rol$•d to allow the charity lo ¢ontrlbule towards rèsèarch into childhood cancers. 22. Analysls of Ngt Assets Between Funds Unreslricled Funds Restrlcted Total Funds Fund8 2024 Tangible flxed assèts Current assets Creditors less than 1 year Net o$$•ts 8,986 1,034,868 (13,1581 1,030,696 405.899 1,123,361 414,885 2,158,229 113,1581 2,559,956 1.529,260 Unrestricted Funds Restricted Total Fund8 Fund8 2023 Tangible lixed assets Current gssels Credltor81&ss than 1 year Net assets 10,673 1,130,555 {12,851 } 1,128,377 94,812 1,423,323 121,5111 1,496,624 105.485 2,553,878 134,3821 2,625,001 23. Analysls of Changes In Net Debt At At 1 Apr 2023 Cash flows 31 Mar 2024 Cash al bank and in hand 2,540,167 1389,7221 2,150,445 24. Operating Lease Commltments The total future mlnimum lease payments und•r non-c8ncellable operating leases are as follow$: 2024 2023 Not later than 1 year Later than 1 year and not later than 5 years 9,552 10,140 9,552 19.500 19,692 29,052 24