commi£glOn Registered Charity Number 1174333 The Bradley Lowery Foundation Unaudited Financial Statements For the Year Ended 31 March 2025
The Bradley Lowery Foundation Contents Contents Pages Trustees Annual Report Independent Examinerfs Report to the Trustees Statement of Financial Activities io Statement of Financial Position li Statement of Cash Flows 12 Notes to the Financial Statements 13-25
The Bradley Lowery Foundation Trustees. Annual Report For the Year Ended 31 March 2025 The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2025. Referen and Adminlstratlve Detalls Re8lstered Charlty Name The Bradley Lowery Foundation Reglstered Charity Number 1174333 Princlpal Office 52-54 Middle Street Blackhall T527 4EA The Trustees Mrs G. L. Lowery Mrs L. Murphy Mrs P. Thirlaway Mr P. C. Empson Mrs R. Harbron Gray Independent Examiner Torgersens East Suite, Ground Floor Avalon House st Catherine'5 Court Sunderland SRS 3XJ Page I
The Bradley Lowery Foundation Trustees. Annual Report For the Year Ended 31 March 2025 Structure, Governance and Management Governing Document The Bradley Lowery Foundation 15 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 21st August 2017, and as amended on 26th July 2021. All major decislons are made by the board of trustees. Recruitment. Inductlon and Tralnlng The board of trustees must include a minimum of 3 trustees who are not employed by the charity. The current trustees were all appointed when the charity was first registered based on the knowledge. skills, quallfication5 and experience that they could bring to the charity. Future appointments will also be based on these attributes. On appointment trustees are provided with copies of the Charity Commlsslon Code of Governance together with copies of the charity's governing documents to ensure they have an understanding of their responsibilities. Where necessary further trainingjguidance will be given. The staff members have completed several courses such as Safeguarding and GDPR. All staff member5 have the relevant DBS checks. This ensures the families are always kept safe. Each staff member has also undergone specific training to enable them to fulfil their Individual roles. Salary Leve15 of staff are reviewed annually by the board. in line with rates for similar posltion5. The CEO and COO are on a Much lower salary as requested by themselves to others in a similar position, please see link where trustees researched salaries of charity CEO'S www.theguardian.com/socletylsalarysurvev/table/O,12406,1042677,00.html. Or8anlsatlonal Strurture Q)OICo* Chlef FInK1)I Fwrrtlr4ts1n8 •ThIFomllv Flnan<t Voluntetts Related Parties The related parties of the charity are the trustees a5 named in the trustees report above. Two of the trustees being Mrs G. L. Lowery and Mrs L. Murphy are also employees of the charity. These two trustees receive no remuneration for their position a5 trustee but are remunerated and are reimbursed expenses as a result of their employment. When the charity began, the charity received significant donatlons from the Bradley Lowery Trust a Trust Sn which the trustee Mrs G. L. Lowery was also a trustee. these funds were donated in full to set up the Bradley Lowery Foundation. Page 2
The Bradley Lowery Foundation Trustee5' Annual Report For the Year Ended 31 March 2025 Objertives and artivities Charlty Alms and Objectlves The Bradley Lowery Foundation IBLF) offers financial and emotional support to the families of sick children, most of these families are fundraising for treatment or equipment not available on the NHS in England and Wales. These may also include specialist therapies. therapy dogs, specialised treatment, or equipment. Some supported cause5 may need to access specialist treatment abroad, to access clinical trials only available in other countries. The Bradley Lowery Foundation continue to support adults looking for treatment, not available on the NHS. We not only offer assistance in fundraisin& but also emotional support for them and their loved ones. The Bradley Lowery Foundation consults with professional clinicians and trained therapists on a regular basis, we encourage parents to ask the right questions to ensure they make the best decision for their child's health. Once the parents have all the information, they can make an informed choice of which treatment option they will wish to pursue. The Bradley Lowery Foundation differs from other charities, we offer a personal service which involves meeting the family (where possible) and their fundraising teams, we offer help and advice on an effective fundraislng campaign. We have many medla connections and utilise these to publicise the campaigns in a positive manner. Families have peace of mind knowing money raised is being held by an established tharlty in accordance with the Charity Commlssion guidelines, and know we are available to contact at any glven time to discuss their campaign or receive support and guidance. Publlc Beneflt Statement Due regard ha5 been paid to the public benefit guidance published by the Charity Commisslon. Actlvltles The Bradley Lowery Foundatlon The Bradley Lowery Foundation aims to help familie5 fundraisin8 for treatment or equipment, not available on the NHS. We aim to get better/safer treatments for children available on the NHS by funding vital research and campalgnin8 for new drugs and trials Within the UK. The Bradley Lowery Foundation continue to support adults looking for treatment, not available on the NHS. We not only offer assistance in fundraisin& but also emotional support for them and their loved ones. Supporting Fundraislng Campalgns We have continued to support a number of families this financial year to successfully raise funds for their causes, which ranges from treatment abroad, vital equipment to autism assistance dog5. The Bradley Lowery Foundation support families in the following ways: Supportin8 the setup of fu ndraising campaign via JustGiving & JustGiving text Managing all offline donations pald dlrectly into the child's account held by the Bradley Lowery Foundation Creatlng fundraising tools supporting social media postin8S Assisting with PR opportunities, setting up interview5, taking interview5 on behalf of the family to maximise the exposure for each campaign Having staff available out of office hours as a point of contact for families Glvlngthe families worldwide exposure using methods we have gained We liaise with many other trusts and organisations who offer grants, and other form5 of support to ensure our families have a multitude of options available to them We manage funds raised via BLF tools, payin8 invoices, sending out receipts of payment and thank you cards, this not only saves the family time, but it ensures donors that funds are being used for its intended purpose We use our own social media to keep follower5 of each child up to date with each campaign Assisting famllies in end of life care Supporting families during the grief proce55 after the loss of a family member Assistin8 families to organise funerals after the10s5 of 3 family member Page 3
The Bradley Lowery Foundation Trustee< Annual Report For the Year Ended 31 March 2025 Medical conditions and illnesses we have already supported.. - Neurobla5toma DIPG Cerebral Palsy - Downs Syndrome - Global Development Delay Epilepsy - Autism Hypermobility Diamond Blackfan Anaemia - Stroke Heart Disease -SPGIS - Cervical cancer - Bowel cancer - Sarcoma's Undia8nosed conditions We aim to Support any family who has contacted the Bradley Lowery Foundation, who are not already being supported by a registered charity. Not every child needs to raise funds for treatment or equipment, some children need exposure to encourage people to Si8n up to the donor register. This 15 something the Bradley Lowery Foundation are more than happy to advertise. As well as hosting fundraising campaigns, we have actively canvassed and held registrations for DKMS, the blood donor register. as well helping familles link up with other families going through the same journey. We speak frequently with other charities and organisations that 5peciali5e in Cerebral Palsy, Neuroblastoma and Autism. to ensure our famllles have the latest information on trlals and treatments available. Our fundraising team continues to develop new ideas for fundraising events. We continue to make and maintain corporate connections with several high-profile companie5. We continue to work with charities such as Clic Sargent, Rainbow Trust, Neuroblastoma UK. Clothes Aid, Autism Do8s CIC, NGAS, Abbies Army, Merlin's Magic Spaces, Friends of Rosie, and many more. We believe working together you gain the best outcome for the families we are supporting. Hollday Home The Holiday Home "Super Brad's Pad" is starting to take shape. We now have a roof to Bo wlth our walls, and windows have now been installed and are in the pro55 of having the rendering completed. The next stages of the home, which will begin in the next financial year, are the plumbing, electrlcs, under floor heatin& as well as the boarding of each room. We have had a lot of 5UPPOrt and discounts from businesses who are supporting the build. The holiday home is being built to offer families an amazing memory making experience with the whole family. The Bradley Lowery Foundation belleves that the whole family should be involved in making special memories. so the holiday home is 5 double bedrooms with an open plan kitchen and living area, wlth 2 playrooms and an outside playroom which will be for adults and older children. As a charity we continue to fundraise further to complete the build, we also maintain relationships with corporate partners a5 well, who continue to support the charity and the bulld. Page 4
The Bradley Lowery Foundation Trustees, Annual Report For the Year Ended 31" March 2025 Grant-maklng The Bradley Lowery Foundation may offer Small grants to currently supported familie5. The 8rants awarded may cover- Short stays for families of terminally ill children through our Nice to be Nice Campaign A one off gift for a child, through our Nice to be Nice Campaign Grants to support home running costs after the loss of a loved one Grants to help give a loved one the funeral they deserve The Bradley Lowery Foundatlon also offers larger 8rants to organisations to aid in their charitable objectives. To date we have sUPPOrted multiple organisations who- Provide vital services to poorly or disabled children Provide equipment FOC to children with disabilities Fund research into childhood cancers Page S
The Bradley Lowery Foundation Trustees, Annual Report Year Ended 31 March 2025 Corporate Collaboratlon The Bradley Lawery Foundation this year teamed up with the National Grief Advice seNice who offer clients 121 counselling sessions Group coun5elling sessions Coping strategie5 For all types of grief. The collaboration ha5 worked extremely well, as we find that Some parents need to wait up 6 weeks to acces5 coun5elling services, so to be able to offer a service that can be made available to someone within 2 weeks, makes a huge difference. Volunteers The Bradley Lowery Foundation has opportunities to become foundation champions. Foundation champions work alongside BLF by attending and hosting fundraising events, by collecting donations given to BLF, and supporting volunteers to ensure their fundraising events go according to 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 to date with new project5 and campaigns. If you would like to enquire to become a foundation champion, please email contact@bradleyloweryfoundation.com. Achievements and Performance In the financial year ended 31st March 2025 we raised total funds of £407.645 and generated a net deficit of £57,309. We began the year with fund5 of £2.559,956. Covid still has a huge impact on the way the charity sector operates, Wlth the increase in card payments, bucket collections are a lot le55 profitable, donations from tubs displayed in shop5 is a150 down by approx. 30%. The c05t of living and the price of utilities has also played a huge factor in the decreasing amount of money hitting the charity sector on a whole. We mitigate this bv- Thinking of new way5 to fundraise lutilising fundraising tools on the JustGiving platform such as QR Codes on buckets and tub5, means that people can make quick donation5 via their phone app) Holding larger events- We have always been a very community-based charity, but over this last year, we have spent more time working with corporate partners, to hold larger scale events. We succe55fully held our 3rd Corporate Golf Day, which raised In excess of £10,000, and our Peaky Blinder5 Themed event which raised approx. £28,000. Continuing our everyday events, such as - Attending fairs to hold smaller stalls. Continuing to grow our BLF football camps Regular social media posts promoting merthandise Purchasing spaces in organised runs for supported to take part in sponsored activities Financlal Revlew Flnanclal Posltlon During the year the charity raised £407,645. Charitable expenditure amounted to £464,954 giving a net deficlt before trdnsfers of £57,309. Reserves Policy At the reporting date £527,055 was held in general unrestricted reserves. We plan to hold unrestricted reserves to cover the running costs of the foundation for at least one financial year, this is to ensure longevity of The Bradley Lowery Foundation. The current level of reserves will be used to meet future objectives of the charity including supporting a partnership that will offer one to one telephone support for families suffering the effects of cancer and funding research projects into Neuroblastoma and other childhood cancers. A designated reserve to cover fundraising and other building costs in respect of the holiday home including survey fee5 had a balance at the reportin8 date of £253,746. Further funds may be designated to the holiday home. A designated reserve wa5 set up by transferring £50,000 in the financial year ended 2019 from general reserves for all other childhood cancer research. This will be used to fund different childhood cancer research projects. A further £50,000 wa5 transferred in April 2022 and had a balance at the reporting date of £lOO,000. A designated reserve was set up by transferring £50,000 in the financial year ended 2019 from general reserves to support the running costs of the BLF support service, this service provides I to I support for families in the North East affected by childhood cancer, by offering out of hours counselling Service. All counsellors are fully trained and accredited. The balance at the reporting date was £50,(0. Page 6
The Bradley Lowery Foundation Trustees, Annual Report Year Ended 31 March 2025 A designated reserve, It's Nice to be Nice, was set up by transferring £50,000 in the financial year 2023 from general reserves. This will be used to offer a small gift or experience to children who have spent a lot of time in hospital. The balance at the reporting date was £50,000. From inception the Bradley Lowery Foundation has supported a number of fundraising campaigns each with their own specific purposes and objectives. At the reporting date the balance held in restricted reserves for these campaigns totalled £887,009. Rlsk Assessment and Mitigation We conduct regular risk assessment5 a5 part of our strategic plan, this is reviewed on a regular basis and the team implement plans to overcome the risks. To date the identified risk5 are: The job role can be physically and emotionally draining on members of staff, due to 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 to raise unrestricted funds to cover core wsts and ensure longevity of the charity. Being high profile in the media means demand for the servlce we offer is very high, therefore having capacity to support every family can become an issue. There is a large volume of fund5 currently coming through the foundation due to the campaign5 we have, and we have limited staff member5 to deal with them. The trustees have assessed the major risks to which the charity is exposed, those related to the operations and finances of the charity and are satisfied that systems and procedures are in place to mitigate our exposure to major risks. To best mltlgate the rlsks: The Foundation decided It would be in the best interest of the stsff to offer counselling sessions from an independent counselling firm, so staff can ensure their mental health is protected. Thi5 15 offered to all staff, and they are able to access sessions as and when needed. Due to the high demand of the support we offer we are in the process of recruiting volunteers who will assist in fundraising events for the foundation and attending events on our behalf. We have multiple foundation champions who support BLF if a regular basis. The Bradley Lowery Foundation is high profile and we have a high demand from campaigns that need support, this takes up a lot of time. We do not refuse support and therefore have a proces5 and as such a waiting list, where families can still benefit from the financial aspect of the foundation, but I to I support from our staff members is given on a case by case basis. We continue a partnership with our PR company to manage and monitor media enquiries for all ampaigns. We continue to utilise Gift Aid to cover the core costs of running the charity. We continue to hold unrestricted reserves to cover l year of the core costs, this is to ensure that in the event of funding coming in slowly, the charity can run as normal. We have worked closely with our le8al team, and continue to use our stringent policies and procedures regarding collection5 using the BLF charity number, all collections must go through BLF to book and arrange, and all collections needs to be allocated to the supported causes accounts with a short timeframe, we also request collectors to fill in paperwork regardlng their collection5 which is sent to BLF at the time of depositing of funds. We have found this has worked well and collectors understand the rules and regulations of working with a charity. Plans forfuture perlods We plan to hold UnstrICted reserves to cover the running cost5 of the foundation for at least 2 financial years. this is to ensure longevity of the Bradley Lowery Foundation. We hope in the future that fund5 raised via Gift Aid claimed, will maintain the majority of the running costs of the foundation, coverinB everyday costs such as salaries, rent and utility bi115, 50 that funds ralsed via BLF will be used to support familles who are fundraising for treatment or equipment, grant applications and research. We will continue to support families, emotionally and financially. We will also continue to create good workin8 relationships with other charities, non-profits and businesses to ensure our families get the best support offered. Page 7
The Bradley Lowery Foundatlon Trustees, Annual Report Year Ended 31 March 2025 Trustees. responslbllltles statement The trustees are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accountin8 Standards (United Kingdorn Generally Accepted Accountin8 Practice). The law applicable to charities in England and Wale5 require5 the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that perlod. In preparing these financial statements, the trustees are required to: select suitsble accounting policies and then apply them consistently. observe the methods and principles in the applicable Charlties SORP. make judgments and accounting estimates that are reasonable and prudent. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unles5 it is inappropriate to presume that the charity will Continue in business. The trustees are responsible for keeping adequate accountlnB records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities {Accounts and Reports) Regulation5, and the provlsions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees, annual report was approved on by.. 031125 and signed on behalf of the board of trustees Mrs L Murphy Trustee Mr P C Empson Trustee Page 8
Independent Examinerfs Report to the Trustee5 of The Bradley Lowery Foundatlon Year Ended 31 March 2025 I report to the trustees on my examination of the financial statements of The Bradley Lowery Foundation ('the charity,) for the year ended 31 March 2025. Responslbillties and basis of report A5 the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 20111'the Act'}. I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145151(bl of theArt. Independent examiner's statement Since the charity's gr05s income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales IICAEWI, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respert of the charlty as required by section 130 of the Act; or the financial statement5 do not accord with those records- or the finantial statements do not comply with the applicable requirements concerning ihe form and content of accounts set out in the Charities (Account5 and Reports) Re8ulations 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. Alison Henshaw FCCA Independent Examiner East Suite, Ground Floor Avalon House St Catherine's Court Sunderland SR5 3XJ 031iilzS Page 9
The Bradley Lowery Foundation Statement of Financial Activities For the Year Ended 31 March 2025 Unrestricted Funds Restrlcted Funds Total 2025 Total 2024 Notes Income and Endowments Donations and Legacies 169.212 145,185 314,397 352,289 Other Trading Activities 73,051 72 73.123 46.647 Investment Income 7.980 12.145 20.125 13.924 Total Income 250.243 157,402 407,645 412,860 Expenditure Expenditure on Raisin8 Funds: Costs of Raising Donation5 & Legacie5 6,614 6,614 6,924 Costs of Other Trading Activitie5 25.739 25.739 21.638 Expenditure on Charitable Activities 9.10 297,606 134,995 432,601 449,343 Total Expendlture 329,959 134,995 464,954 477,905 Transfers 29.821 129,8211 Net Expenditure & Net Movement In Funds (49,8951 {7,4141 157,309) 165,0451 Reconciliation of Funds Total Funds brought forward 1,030.696 1.529,260 2,559.956 2.625.001 Total Fund5 carried forward 980,801 1,521,846 2,502,647 2,559,956 The statement of financial activities includes all gains and1055es recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 13 to 25 form part of these financial statements Page 10
The Bradley Lowery Foundatlon Statement of Financial Position As at 31 March 2025 2025 2024 Note Flxed Assets Tangible Fixed A55et5 16 637,714 414,885 Currents Assets Stocks 17 2,064 2,718 Debtors 18 5,333 5,066 Cash at Bank and in Hand 1,869,725 2,150,445 1,877,122 2,158,229 Credltors: Amounts Falling Due Withln One Year 19 12,189 13,158 Net Current A55ets 1,864.933 2,145,071 Total Assets Less Current Liabilities 2,502,647 2,559,956 Net Assets 2,502,647 2,559,956 Funds of the Charity Restricted Funds 1,521.846 1,529,260 Unrestricted Funds 980,801 1.030.696 Total Charlty'Funds 21 2,502,647 2,559,956 The financial statements were approved by the Board of Trustees and authorlsed for issue on and are slgned on behalf of the board by: 031125 Mrs L Murphy Trustee Mr P CEmpson Trustee The note5 on pages 13 to 25 form part of these financlal statements Page 11
The Bradley Lowery Foundatlon Statement of Cash Flows For the Year Ended 31 March 2025 2025 2024 Cash Flows from Operating Actlvltles Net Expenditure {57,3091 (65,0451 Adjustment5for." Depreciation of Tangible Fixed Assets Other Interest Receivable and Similar Income 1,957 1,862 (20,125) 113,924) Interest Payable and Similar Charge5 846 1,283 Accrued {incomel/expenses 516 11,8301 Changes in.. Stocks 654 1,379 Trade and Other Debtors (2671 11.4851 4,548 Trade and Other Creditors 119,374) Cash Generated from Operations (75,2131 191,101) Interest Paid 18461 (1.283) Interest Received 20,125 13,924 Net Cash Used in Operating Activities 155,9341 178,460) Cash Flows from Investin8 Actlvltles Purchase of Tangible Assets 1224,786) 1311,2621 Net Cash Used in Investing Activities {224,786) 1311,2621 Net Decrease In Cash and Cash Equivalents (280,720) 1389.722) Cash and Cash Equivalents at Be8innin8 of Year 2,150,445 2,540,167 Cash and Cash Equivalents at End of Year 1,869,725 2,150,445 The notes on pages 13 to 25 form part of these financlal statements Page 12
The Bradley Lowery Foundation Notes to the Financial Statements For the Year Ended 31 March 2025 General Informatlon The charity is a public benefit entily and a registered charity in England and Wales and is unincorporated. The address of the principal office is 52-54 Middle Street, Blackhall, TS27 4EA. Statement of Compllance These financial Statements have been prepared in compliance with FRS 102, 'The Flnancial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 Icharities SORP IFRS 10211 and the Charities Act 2011. Accounting Pollcles Basis of preparatlon The financial statements have been prepared on the historical cost basis. Going concern There are no material uncertainties about the charity's ability to continue. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income fund5 or endowment funds. Inromin8 resources All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefit5 a550Ciated with the transaction will flow to the charity and the amount can be reliably measured. The following speclfic policies are applied to particular categories of incorne.. income from donations or grants is recognised when there 15 evidence of entitlement to the gift, receipt is probable and it5 amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this 15 impractical to measure reliably, In which case the value is derived from the cost to the donor or the estimated resale value. Donated facilltles and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contributlon of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent. in which case it may be regarded as restricted. income relating to specific children's campaigns is predominantly received via donations and is recogni5ed when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliablv. Page 13
The Bradley Lowery Foundation Notes to the Financial Statements For the Year Ended 31 March 2025 Resources Expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered. and is classified under headings of the statement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising attivities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activlties includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries. including those support costs and costs relating to the governance of the charity apportioned to charitable attivities. other expenditure include5 all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. campaign expenditure relates to costs incurred by the charity in line with the specific campaign5 or funds transferred to the campaign beneficiary. I costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable. justifiable and consistent basis. Grants payable to beneficiaries are included in the SOFA when the charit5 obligation has been established. The value of such grants that are unpaid at the period end is accrued. Operating leases Lease payment5 are recognised as an expense over the lease term on a straight-line basi5. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a strai8ht-line basis. Tanglble assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment1055es. Tangible assets relating to the holiday home are recorded at cost and value of donated goods and labour less any depreciation and impairment losses. DÈpreclatlon Depreciation is calculated so as to write off the cost or valuation of an asset. less its residual value, over the useful economic life of that asset as follows: Improvements to landlords property Fixtures and fittin8S Equipment Holiday Home IO% straight line IOYO Straight line 10% straight line Not depreciated as asset under course of construction stocks stocks are measured at the lower of cost and estimated selling price less Costs to complete and sell. Cost includes all costs of purchase. costs of conversion and other costs incurred in bringing the stock to its present location and condition. Financial Instruments Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidence5 a residu31 interest in the asset5 of the company after dedurting all of its liabilities. Defined Contrlbutlon Plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the Ilabillty is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Page 14
The Bradley Lowery Foundation Notes to the Financlal Statements For the Year Ended 31 March 2025 4. Donatlons and Legacies Unrestricted Funds Restricted Funds Total Funds 2025 Donatlons Donations and Legacles received 110,119 57,436 167,555 Just Giving Donations 58,913 87,670 146,583 Facebook Donation5 DonrText Giving 180 79 259 Grants Grants Receivable 169,212 145,185 314,397 Unrestricted Funds Restrirted Funds Total Funds 2024 Donations Donations and Legacies received 73,620 88,375 161,995 Just Giving Donations 100,015 87,877 187.892 Facebook Donations 2,216 2,216 Donr Text Givin8 90 96 186 Grants Grant5 Receivable 175,941 176,348 352,289 5. Other Tradlng Actlvltles Unrestricted Funds Restricted Funds Total Funds 2025 Fundraising events 71,598 71,598 Shop income 676 72 748 Enthuse fundraising donations 777 777 73,051 72 73,123 Page 15
The Bradley Lowery Foundation Notes to the Unaudlted Financial Statements For the Year Ended 31 March 2025 S. Other Trading Artivitie5 continued Unrestricted Funds Restricted Total Funds Funds 2024 Fundraising events 30,968 11,264 42,232 Shop income 2.605 138 2.743 Enthuse fundraising donations 1,672 1,672 35,245 11,402 46,647 6. Investment Income Unrestricted Funds Restritted Funds Total Funds 202S Bank interest receivable 7,980 12,145 20,125 Unrestricted Fund5 Restricted Total Funds Funds 2024 Bank interest receivable 353 13,571 13.924 7. Costs of Raising Donatlons and Legacles Unrestricted Fund5 Restricted Total Funds Funds 2025 Donations- Merchandise 1,410 1,410 Donations- Campaign5 Donations- Just Giving Fees 5.066 5.066 Donations- Paypal Fees 138 138 6,614 6,614 Page 16
The Bradley Lowery Foundation Notes to the Unaudited Financial Statements For the Year Ended 31 March 2025 7. Costs of Ralslng Donatlons and Legacles contlnued Unrestricted Funds Restricted Funds Total Funds 2024 Donations- Merchandise 434 434 Donations- Campaigns Donations- Just Giving Fees Donations- Paypal Fees 6,336 6,336 154 154 6,924 6,924 8. Costs of Other Trading Activities Unrestricted Funds Total Funds 2025 Unrestricted Funds Total Funds 2024 Costs of other trading activities - Shop costs 664 664 2,225 2,225 Costs of other trading activities- Staging events 25,075 25,075 19,413 19,413 25,739 25,739 21,638 21,638 9. Expenditure on Charitable Actlvltles by Fund Type Unrestricted Fund5 Restricted Funds Total Funds 2025 Supportlng fundraising campaigns 129,404 129,404 Holiday home Funding research projects 165 165 Support costs 297,606 5,426 303,032 297.606 134,995 432,601 Page 17
The Bradley Lowery Foundatlon Notes to the Unaudited Financial Statements For the Year Ended 31 March 2025 9. Expenditure on Charltable Actlvltles by Fund Type contlnued Unrestricted Funds Restricted Funds Total Funds 2024 Supporting fundraising campalgns 349 132.186 132,535 Holiday home Funding research project5 750 3,920 4,670 895 895 Support C05t5 309,774 1,469 311,243 310,873 138,470 449,343 10. Expenditure on Charitable Actlvltles by Actlvlty Type Activities Undertaken Grant Funding Directly of Activities Support Total Funds Total Funds Costs 2025 2024 Supporting fundraising campaigns 129.404 262,307 391,711 432,988 Holiday home 165 29,572 29.737 4.670 Funding research projects 895 Governance Costs 11,153 11,153 10,787 129,569 303,032 432,601 449,340 11. Analysls of support Costs The Charity initially identifies the c05t5 Of its support funrtion5. It then identifies those cost5 which relate to the governance functlon. Having identified its governance costs, the remaining support costs together with the governance costs are apportioned between the three key charitable activities undertaken Isee note 111 in the year. All support costs relating to restricted campaigns are allocated directly and the remainder of costs are split 60% supporting fundraising campaigns, IO% holiday home and 30% Bradley Lowery Foundation. Page 18
The Bradley Lowery Foundation Notes to the Unaudited Financial Statements For the Year Ended 31 March 2025 Analysis of Analysis of Analysis Support Costs Support Costs Of Support - Supporting Bradlev Costs Fundraising Lowery Holiday Campaigns Foundation Home Total 2025 Total 2024 Staff costs 139,021 88,475 20.809 248,305 247,921 Premises 8,735 4,367 1,668 14,770 17,352 Communications and IT 1,706 1,317 284 3,307 2,868 General office 4,235 2,117 706 7,058 17.619 Governance costs 6,692 3,346 1,115 11,153 10,788 Support costs - Insurance 5,358 2,680 5,628 13,666 8,621 Support costs - Legal 69 35 12 116 350 Support costs - Travel 1,113 556 185 1,854 2.579 Support costs - Bank charges and interest 513 249 84 1,283 Support costs- Depreclation 1,174 587 196 1,957 1,862 168,616 103,729 30,687 303,032 311,243 12. Analysis of Grants 2025 2024 Grants to Instltutlons Grants to institutions 1,778 Grants to Indlviduals Grant5 to individuals Total Grants 1,778 13. Net Expenditure Net expenditure Is stated after chargingllcrediting): 2025 2024 Depreciation of tangible fixed assets 1,957 1,862 Page 19
The Bradley Lowery Foundation Notes to the Unaudlted Flnancial Statements For the Year Ended 31 March 2025 14. Staff Costs The total staff c05t5 and employee benefits for the reporting period are analysed as follows: 2025 2024 Wages and salaries 221,982 222,301 Social security Costs 19,760 18,774 Employer contributlons to pension plans 6,458 6,616 Other employee benefits 105 230 248,305 247,921 The average head count of employees duringthe yearwas 5 (2024.. 61. The number of employees whose remuneration for the year fell within the following bands, were: 2025 No. 2024 No. £60.000 to £69,999 £70,000 to £79,999 Key Management Personnel The key management personnel of the charity comprise trmo of the charity's trustees and the Chief Financial Officer12024'. two of ihe charity's trustees and the Chief Financial Officer). During the current year the key management personnel received remuneration totalling £212,34312024: £194.0371 and were reimbursed for out of pocket expenses amounting to £53012024.. £8461, 15.Trustee Remuneratlon and Expenses Trustees expenses paid during the year amounted to £53012024: £8461 paid to two12024.' two) trustees in reimbursement of subsistence costs incurred. The Charity Commission has given approval for the employment of Gemma Lowery as CEO. HÈr total remuneration for the year wa5 £58,850 12024- £54,432). Ernployer's National Insurance costs on thi5 amounted to £6,86612024'. £4,966). Employer'5 pension contributions on this amounted to £1.76512024- £1.6331. The Charity Commission has given approval for the employment of Lynn Murphy as Chief Operating Officer. Her total remuneration for the year was £55.172 12024: £51,030). Employer's National Insurance costs on this amounted to £6,358 12024: £4.5941. Employer'5 pension contributions on this amounted to £1,655 {2024: £1.5311. Page 20
The Bradley Lowery Foundation Notes to the Unaudited Financial Statements For the Year Ended 31 March 2025 16.Tanglble Flxed Assets Improvements to Landlord's Property Holiday Fixtures & Home Fittings Equipment Total Cost At l Aprll 2024 3,770 405,899 7,865 6,988 424,522 Additions 223,837 949 224,786 At 31 March 2025 3,770 629.736 7,865 7,937 649.308 Depreciatlon At l April 2024 2,262 4,568 2,807 9,637 Charge for the year 377 786 794 1.957 At 31 March 2025 2,639 5,354 3,601 11,594 Carrylng amount At 31 March 2025 1.131 629,736 2.511 4.336 637,714 At 31 March 2024 1,508 405,899 3.297 4,181 414,885 17, Stocks 2025 2024 Raw materials and consumables 2,064 2,718 18. Debtors 2025 2024 Trade debtors 2,314 2,646 Prepayment5 and accrued income 3,019 2,420 5,333 5,066 19. Credltor: amounts falling due within one year 2025 2024 Accruals and deferred Income 10,116 9,6Crf) Other creditors 2.073 3.558 12,189 13,158 Page 21
The Bradley Lowery Foundation Notes to the Unaudited Flnancial Statements For the Year Ended 31 March 2025 20. Pensions and Other Post Retirement Benefits Defined contribution plans The amount recognised in income or expenditure a5 an expense in relation to defined contribution plans was £6,45912024- £6,616). 21.Analysis of Charitable Funds Unre5trirted Funds At l April 2024 At 31 March 2025 Income Expenditure Transfers General funds 576.950 250.243 1329,9591 29,821 527.055 Designated Fund - holiday home 253.746 253,746 Designated Fund Childhood Cancer Research loo,000 100,000 Designated fund - It's Nice to be Nice 50.000 50,000 Designated fund - BLF Support Service 50,(KIO 50,000 1,030,696 250,243 1329,9591 29,821 980,801 At l April 2023 At 31 March 2024 Income Expenditure Transfers General funds 604,340 211,539 1312,7241 126,3621 73,795 576,950 Designated Fund - holiday home 324,037 143,929) 253,746 DesSgnated Fund - Childhood Cancer Research I,000 loo,000 Designated fund - It's Nite to be Ni So,0 (349) 349 50.WO Designated fund BLF Support Service 50.(KIO 50,000 1.128,377 211,539 {339.435) 30,215 1,030,696 Page 22
The Bradley Lowery Foundation Notes to the Unaudited Financial Statements For the Year Ended 31 March 2025 21.Analysis of Charltable Funds continued Designated Fund - Holiday Home- This fund was set up in order to raise funds to enable to charity to build a holiday home for the children and their families to visit and enjoy precious time together. Designated Fund Closed bank accounts This fund was set up by the charity for tran5parenry, to hold funds from closed accounts before transferring them into the general fund. Designated Fund Chlldhood Cancer Research This fund was set up in order to allow the charity to contribute up to £50,000 of match funds towards the research into all childhood cancers. Designated Fund - BLF Support Service- This fund was set up in order to enable the charity to provide a free confidential support service for parents and carers of children with cancer in the North East of England. Designated Fund - It'5 Nice to be Nice - This fund was set up in order to offer a small gift or experience to children who have spent a lot of time in hospital. These will range from a toy the chlld would like, to a family day out to make special memories. Restricted Funds At l April 2024 At 31 March 202S Income Expenditure Transfers Restricted Fund - Holiday Home 400,690 7,793 {5.1111 211,106 614.478 Re5trirted Fund - Chlldren's campaigns 1,104,834 118,444 1105,3881 1233,7261 884,164 Restricted fund - BLF Support Servi 781 553 {4651 869 Restricted fund - BLF Research Fund 20,327 941 11,7781 19,490 Restricted fund - Adult campaigns 2,628 29,671 122,2531 17,201) 2,845 1,529,260 157,402 134.995 {29,821) 1,521,846 Page 23
The Bradley Lowery Foundation Notes to the Unaudited Financial Statements For the Year Ended 31 March 2025 21.Analysls of Charitable Funds At l April 2023 At 31 March 2024 Income Expenditure Transfers Restricted Fund - Holiday Home 250.201 91,741 14,4371 63,185 400,690 Restricted Fund - Children'5 campaigns 1.232.552 87,980 {130,226) 185,4721 1,104,834 Restricted fund- BLF Support Service 1,514 15 17481 781 Restricted fund - BLF Research Fund 12,357 8,879 19091 20,327 Restricted fund - Adult campaigns 12,706 {2.1501 17,928) 2.628 Restricted fund - Supporting Campaigns- General 1,496,624 201,321 {138,4701 130.2151 1.529.260 Holiday Home - Money to build a holiday home for children and bereaved families. Children's Carnpaigns - Money has been raised from 40 campaign5 relating to 40 individual children. Each child has its own target and objective but all of them relate to the provision of specialist equipment or medical treatment not available from the NHS. Further information can be found about each of the campaigns by vlsiting the website www.bradleyloweryfoundation.com. A5 shown above, £233,726 was transferred from the foundation5 unrestricted funds to the children's campaigns. Adulvs Campaigns - Money has been raised from 2 campaigns relating to 2 individual adults. Each adult has its own target and objective but all of them relate to the provision of specialist equipment or medical treatment not available from the NHS. Further information can be found about each of the campaigns by visiting the website www.bradleyloweryfoundation.com. As shown above, £7,201 was transferred from the foundations unrestricted funds to the adulV5 campaigns. BLF Support Service - Money to pay for the BLF Support Servite that will be provided to parents and tarers of children with cancer in the North East of England. BLF Research Fund Money raised to allow the charity to contribute toward5 research into childhood cancers. 22. Analysi5 of Charltable Funds Unrestricted Funds Restricted Totsl Funds Funds 2025 Tangible fixed assets 7,978 629,736 637.714 Current assets 985,012 892,110 1,877,122 Creditors less than l Year 112,1891 112,189) 980,801 1,521,846 2.502.647 Page 24
The Bradley Lowery Foundation Notes to the Unaudited Financial Statements For the Year Ended 31 March 2025 22. Analysis of Charitable Funds Unrestrlcted Funds Restricted Funds Total Funds 2024 Tangible fixed assets 8,986 405,899 414,885 Current assets 1,034,868 1,123,361 2,158,229 Creditors less than l year {13,158} 113,158} 1,030,696 1,529,260 2,559.956 23. Analysi5 of Change5 in Net Debt At Cash flows 31 Mar 2025 At l Apr 2024 Cash at bankand In hand 2,ISO,445 1280,720) 1,869.725 24. Operating Lease Commitments The total future minimum lease payments under non-cancellable operating leases are as follows- 2025 2024 Not later than l year 9,360 9,552 Later than l year and not later than 5 years 780 10,140 10,140 19.692 Page 25