(Charitable Incorporated Organisation)
Report and Financial Statements
Year ended: 31[st] March 2021
Charity number: 1176344
Charity registration number: 1176344
The Charlie Gard Foundation
Contents
| Contents | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2 |
| Independent Examiner's Report | 12 |
| Statement of Financial Activities | 13 |
| Balance Sheet | 14 |
| Notes to the Financial Statements | 15 - 23 |
The Charlie Gard Foundation
Reference and Administrative Details
Trustees
Miss C Yates Mrs S Roundsmith Mr C Da Silva Mr J H Mendlesohn
Charity Registration Number
1176344
Principal Office
Centurion House London Road Staines-upon-Thames Surrey TW18 4AX
Independent Examiner
DJM Accountants BLJ Limited 5 Stirling Court Yard Stirling Way Borehamwood WD6 2FX
Bank
The Co-operative Bank 80 Cornhill London EC3V 3NJ
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Welcome to the Charlie Gard Foundation
The Charlie Gard Foundation was set up in memory of baby Charlie Gard who sadly lost his battle with mitochondrial disease in July 2017. We are an independent charity dedicated to improving the lives of individuals and families living with a mitochondrial diagnosis, and funding research into viable treatments for this currently incurable disease.
Aims
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Supporting individuals and families through the provision of services, items, grants and fundraising campaigns to help deliver a better quality of life for those suffering with a mitochondrial disease;
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Ensuring those affected by mitochondrial disease can live fulfilling lives and make lasting memories despite their life-limiting condition;
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Create further awareness of the disease through the advancement of public education through the dissemination of information;
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Invest in pioneering research into viable treatments for mitochondrial diseases.
Report of the trustees for the year ended 31[st] March 2021
The trustees present their annual report and financial statements of the charity for the year ended 31[st] March 2021. The financial statements have been prepared in accordance with the accounting policies and comply with the charity’s governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1[st] January 2016).
Structure, governance and management
The Charlie Gard Foundation is a registered charity, number 1176344, and is constituted under a governing document dated 18[th] December 2017, as amended on 15[th] April 2020. The charity was established by an initial gift from Constance Yates and Christopher Gard in 2017 following the death of their beloved son, Charlie Matthew William Gard, from complications associated with mitochondrial disease.
New trustees are appointed by the existing trustees and serve for three years after which they may put themselves forward for re-appointment. The governing document provides for a minimum of three trustees, to a maximum of twelve trustees, with no more than three trustees due for reappointment in any one year.
All major decisions are made by the board of trustees.
Trustees are approached to join based on the following criteria and, after discussions, are invited to join the board:
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Professional standing
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Interest in the mitochondrial community
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Cooperative and helpful nature
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Complimentary skill set to other trustees
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On appointment new trustees sign a model trustee declaration statement committing them to the giving of their time and expertise. New trustees receive a welcome pack including a brief history of the charity, a copy of the governing documents and a copy of the Charity Commission’s guidance The Essential Trustee: What You Need to Know .
All trustees give of their time freely and no trustee remuneration was paid in the year. Trustees are required to disclose all relevant interests and in accordance with the charity’s policy withdraw from decisions where a conflict of interest arises.
Risk management
The trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risks. The trustees continue to keep under review any major risks arising from, or impacting, on the activities of the charity.
Internal risks are minimised by authorisation procedures for projects and transactions to ensure consistently high-quality service delivery.
Significant risks are divided into a number of areas including:
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Financial risk: income generation, business planning and budgeting to ensure longevity of the charity
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Service provision: viability of research projects, and appropriate use of individual grant application funds
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Personnel: employee health and well-being whilst working with challenging, emotional and demanding situations
The trustees are aware of the importance of developing a risk awareness culture within the charity and continue to work towards embedding this within the day-to-day working methods of both staff and volunteers.
Objectives and activities for the public benefit
The Charlie Gard Foundation helps meet the needs of families and individuals living with a mitochondrial disease to ensure a better quality – and more fulfilling and comfortable – life. We endeavour to overcome many of the barriers they face and help to promote quality and enjoyment of life. Everything we do contributes to that. Our vision is that families and individuals affected by mitochondrial disease have the same quality of life, opportunities and aspirations as other individuals and families.
The Trustees have complied with the duty (set out in section 4 of the Charities Act 2006) to have due regard to public benefit guidance published by the Charity Commission.
The families make no payment for our services and no relevant individuals are excluded from our application procedures. The Charlie Gard Foundation continues to pursue its aspirations which relate to its vision of help for families and individuals affected by mitochondrial disease. These include:
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sourcing sufficient funds to support a wider number of families and individuals;
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provision of timely and practical advice by way of improving information for families and signposting families to other organisations;
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expanding our work in delivering additional support to our current services list;
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maintaining our efficiency through improvements in our service, systems and contract arrangements with suppliers.
The charity also supports pioneering research projects seeking viable treatments for mitochondrial diseases and has embarked on a promising new three-year research project that has been extended to five years due to the Covid pandemic of 2020.
As a sub-objective of the charity, we are campaigning for a new Bill known as Charlie’s Law. This Bill will help mitochondrial sufferers, and others affected by conditions where treatment may be unavailable in the UK, to have more freedom of access to try treatments that are not readily available on the NHS. The right to accept professional and legitimate treatment for those suffering from a lifelimiting condition is something close to the core values of the charity, and we have had significant success with the first stages of the campaign, which will undoubtedly continue over the coming years as we campaign for change. We have more of an update on Charlie’s Law further into this report.
Grant-making policy
The trustees have established its grant making policy to achieve its objects for the public benefit to improve the lives of sufferers with mitochondrial disease. We review the grant making policy annually to ensure that it reflects the charity’s objects and thereby advances public benefit.
The beneficiaries of our grant-making programme are ultimately those who suffer from mitochondrial disease, but our grants also support research projects that look to find viable treatments for this currently incurable disease and to seek a permanent cure in the future. Mitochondrial diseases have been linked to a variety of other health conditions including Alzheimer’s, Parkinson’s, diabetes, cancers and dementia, to name a few, so our research could feasibly have a cross-over benefit for other illnesses and offer a wider benefit to the medical community.
Our grants are reviewed by the board of trustees and offered on a discretionary basis. If the amount exceeds our current grant policy cap, fundraising support is offered alongside a smaller grant. For those applying for grants from the charity we need to ensure that the grant will:
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Result in lasting change;
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Meet a family, or individual’s, needs;
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Cannot be provided via the NHS or local authority.
Our grant-making procedures will be reviewed on an annual basis with the hope to relax caps and restrictions on the values of grants in the future.
Challenges and Achievements
The Charlie Gard Foundation was established in 2017 and officially launched on June 1[st] 2018. The main priorities for the first official year were to better understand what needs are required for mitochondrial sufferers, how to create better awareness for the disease in the general public, and to ensure strategies and projects are put in place to secure longevity of the charity. We worked hard to create the best charitable platform to ensure we could accommodate any request from a family or individual affected by mitochondrial disease, and to also keep in sight the variety of ways in which we could create awareness of the charity, and create funds, to ensure the charity would grow and be sustainable for future years.
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Our second year of operation was not too dissimilar to the first with more focus on awareness, networking and creating good contacts within corporate businesses to create future relations for the charity. We focused more on planning our fundraising events for both this year and the forthcoming year and held our very first charity ball, too.
However, our third year of operation has been the most challenging to date as we were met with a world-wide pandemic – Covid 19 – that forced us to change our entire immediate and future plans. This year was primarily about building relationships, awareness, but above all, raising funds: vital funds to ensure the longevity of the charity and to push forward with our plans and commitments that we had established in 2019-2020. We started with our first charitable event in March 2020 in York: a music event held in the National Centre for Early Music. This event proved to be our first and last face-to-face event to date, which was not only devastating for us, but it meant we had to adapt swiftly to the new and ever-changing circumstances to make sure we could still operate and operate effectively.
As physical events were cancelled, we had to readjust quickly and move to our social media platforms to continue fundraising. In the early stages this worked incredibly well for us as online raffles and virtual events began to become popular and allowed us to still reach our supporters, albeit in a different way. However, more challenging than anything else was to ensure we could continue to support our clients, and this was the hardest challenge we faced as a charity. The restrictions and complications created by the pandemic meant that we couldn’t see and support our families as much as we’d hoped. Projects were delayed, and projects that could go ahead had massive complications with delivery dates, materials, labour and costings. It was an incredibly demanding time for us but we worked hard to deliver what we could, given the circumstances, and were still able to accomplish some notable achievements.
Here are the areas of achievement for our third year operating as a charity:
Grants and support
We continued to support the majority of our clients’ requests – totalling just over 52 families and individuals for the third year – by supplying specialist medical equipment, treatment grants, physiotherapy services, household equipment, supporting fundraising campaigns for larger essential items, and a variety of memory making gifts for both families making memories, and those seeking comfort from bereavement gifts, too. We have continued to develop our healthy working relationships with a variety of charities and institutions, which allows us to continue to deliver a vast range of services ensuring that individuals and families receive the very best support for their specific concern or issue. Some collaborations and services – such as family photoshoots, day trips and groundwork projects – have been affected severely, and we’re either unable to deliver at this time, or things are taking longer than expected, but we’re continuing to work with whomever we can to ensure we do deliver on our objectives. However, sessions such as hydrotherapy, physio and treatment plans – where applicable – have still been maintained where possible.
Garden Project
2020 should have been the launch of our very first major Garden Project, with work starting in the April, but this was all postponed until later in the year. We hit some major complications with labour, materials and Covid restrictions, but we were indeed able to start the project in the October and begin to turn an inaccessible garden into a beautiful, family friendly and accessible garden, albeit slower than originally anticipated. Due to the nature of these major projects, and the
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foreseeable forecast with the pandemic still affecting individuals and organisations, we have decided to postpone the Garden Projects until 2021 whilst we concentrate on our existing project and ensure it’s delivered to the quality and standard the family deserve.
For more information on our current project, you can visit our website here: - https://thecharliegardfoundation.org/garden project/
Awareness
To help with our awareness campaign to promote mitochondrial disease, Charlie’s parents, Connie and Chris, continue to make contributions to radio and newspapers with regards to discussing the charity but also to discuss progress and details for Charlie’s Law. We have spent the majority of our time building new relationships with businesses and institutions planning future projects and reaching out to let people know who we are and what we do.
As we were unable to spread awareness through our physical events, we were able to reach out to new potential supporters through our online raffles, competitions and virtual ball so although fundraising may have been hampered this year we have been able to concentrating on build awareness – both locally and nationally – and laying foundations for new relationships to move forward once we overcome these challenging times.
Virtual Ball
In November 2020 we held our very first Charlie Gard Foundation virtual charity ball. Thanks to an amazing events team we were able to bring comedy, music, celebrities, auctions, and lots of entertainment to people’s homes during the second lockdown, which not only helped us raise over £8,000 in fundraising but it also allowed is to reach a vast audience given that we were virtual and didn’t have the restrictions of everyone having to physically attend an event. It was a great opportunity for us to build connections and networks for the future as well as a great source of fundraising too, and we will definitely look at holding another virtual event in the future, or perhaps create a hybrid event that is both virtual and physical.
As much as we enjoyed our virtual ball it wasn’t anywhere near the calibre of our physical charity ball we’d held the previous year in London, so we’re hoping to get back on track with our physical ball in October 2021 providing there is considerable improvement in our current world-wide situation.
Monkey Mascots
In 2019 we successfully launched the very first mascots for mitochondrial disease in the world. ‘Mito Monkey’ and ‘Runner Monkey’ have been created to help advocate for the charity and help spread awareness for the disease as well as partaking in various fundraising events to help raise vital funds for the charity, too. Due to the current situation with the pandemic our monkeys were unable to take part in events in the way they had intended so Runner Monkey took a little holiday in Manchester where he also had some new shoes made for his next running challenge, and Mito Monkey began learning sign language to help him communicate with children and adults he meets on his travels.
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Many of our children sadly have impaired hearing so he decided that it would be a great idea to learn sign language to better communicate with our clients when we finally get back to face-to-face events. He also took part in a few virtual events, such as the London Marathon Relay Run and the virtual ball, which has inspired us to launch a few more hybrid events that will enable not only Monkey to take part but other supporters who may not be able to attend physical events.
Research
In 2019 we allocated £250,000 to fund research projects in the coming years that will help with potential treatment options for those who suffer from mitochondrial disease. This project could be invaluable to further advance research into better treatments for mitochondrial disease and we hope to secure funding for further research within the project area once the current project has concluded.
It’s vitally important we find better treatments and ultimately a cure for mitochondrial diseases and we will assess our research projects on an annual review basis and seek to support other projects that fit within our charity values when such become available.
Due to the pandemic our research has been delayed by around 18 months, although it is still ongoing just at a slower pace than we had originally anticipated. This, however, gives us more time to raise more vital funds to ensure we can continue to fund this particular project once the first phase is complete, and also to help us to plan and start new projects alongside our current portfolio, too.
Charlie’s Law
The charity also supports a Bill that provides three key changes to improve existing legislation. This is known as Charlie’s Law and will:
Prevent cases reaching court
No one wants to see disagreements over the care of seriously ill children to be decided in the courts. The legislation helps prevent cases from reaching court by providing access to clinical ethics committees throughout NHS hospitals, access to medical mediation where there are differences of opinion, and speedy access to all medical records including raw data.
Providing advice and support for families
Charlie’s Law helps parents get the support they need by providing for better access to advice on ethics and their rights, independent second opinions, and legal aid to ensure families do not face having to pay for costly legal representation and are not forced to rely on funding from outside interest groups.
Protect parental rights
Charlie’s Law will protect parental rights in these cases by restricting court involvement to cases where there is a risk of significant harm to the child.
Charlie’s Law has now successfully been discussed in parliament after having its first reading in the House of Commons, with a planned second reading later in 2020. However, with the new year comes new challenges: the pandemic continues to disrupt parliament with all Private Member’s Bill’s suspended for the foreseeable future. Unfortunately, this means that Charlie’s Law is unlikely to have its second reading in the House of Commons until the next parliamentary session.
However, together with the White House Consultancy, Connie and Chris continue to press ahead and have held an extremely successful roundtable event to discuss Charlie’s Law. The roundtable took place on Thursday 28[th] January 2021 and brought together medical experts from the Nuffield Council on Bioethics, British Medical Association, Medical Mediation Foundation; legal experts and parliamentarians. Bambos Charalambous MP, leading on Charlie’s Law, chaired the roundtable event and used the discussion to receive feedback from specialists in palliative care, mediation and medical ethics, using the insights and views shared by the experts to inform the direction of the Bill. The event galvanised a broad consensus of support amongst the medical experts and parliamentarians alike, giving the Bill the best chance of passing when it returns to the House of Commons.
The roundtable has presented new opportunities to reengage with Health Minister, Helen Whately MP and build upon the last meeting – where she requested feedback on the Bill from the medical community. With the final version of the Bill and input from the medical community in hand, Bambos Charalambous MP will meet Whately again to discuss the latest version of Charlies Law. Finally, Bambos will also meet with the Ministry of Justice to discuss Charlie’s Law and advocate for the Bill’s legal aid provision.
This is fantastic news for the charity as Charlie’s Law receives strong support from a variety of MPs and medical professionals across the board wanting to make positive changes for both parents and professionals involved in sensitive medical situations. The current pandemic may be causing some delays and challenges, but our team continue to strive for change and continue to build support in the House of Commons and the House of Lords to maximise the Bill’s support ahead of its second reading.
To learn more about Charlie’s Law you can visit our website here: https://thecharliegardfoundation.org/about/what-is-charlies-law/
Financial review
Financial position
The Charlie Gard Foundation received an initial donation from Connie Yates and Chris Gard of £1,196,490; monies raised from the Charlie’s Fight campaign in 2016/2017. The amount donated consisted of the balance raised from the campaign less the operational fees charged by GoFundMe, set up costs for the charity shop, and associated costs for the funeral of Charlie Gard.
Since inception further amounts of £80,919, £113,328 and £77,841 were received as donations in the financial periods ended 31st March 2019, 31st March 2020 and 31st March 2021 respectively. The total donations received at the end of this financial period was £1,468,578.
Reserves policy
The trustees have reviewed and set the reserve policy, which is developed through consideration of the requirements of charity law, the Charities SORP, finances, strategy, and future funding needs.
The level of reserves (unrestricted) at 31st March 2021 amounts to £392,322 (2020: £740,745). We will retain reserves of not less than twelve months’ operating costs to cover unforeseen circumstances and to ensure the longevity of the charity. Restricted reserves now stand at £317,293 (2020: £280,293).
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During the year we created several campaigns for individual projects and clients, and the balance of these campaigns amounted to £37,000, which will be held as restricted funds.
The charity is still highly dependent on voluntary contributions and fundraising, meaning that the charity will need to continue to develop its fundraising efforts. The first two years have been allocated to setting the charity up correctly and sustainably, so it has been incredibly difficult that our progress has been stopped so abruptly and our funding streams we worked hard to secure have been compromised in this third year. However, we have continued to create relationships with relevant parties to ensure longevity of the charity and have had the time to develop the right services and strategies that will most benefit those who suffer from mitochondrial diseases. Our fundraising will be developed in this period with the vision of fully implementing our full range of fundraising campaigns at the start of 2021.
Plans for the future
2020/21 has been the third year of our current three-year strategy, and we’ve had to re-evaluate our situation, make reasonable adjustments to weather the storm and adapt and take action to push us through this most difficult time as we continue to establish our charity.
In 2020/21 we wanted to:
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Be better known by families, professionals and supporters as an organization that improves the wellbeing of those suffering with mitochondrial disease through delivering solutions, support and services to enable positive change. We still managed to achieve this through adapting to online and virtual events and utilizing time that would have been spent creating events on building more corporate relationships both locally and nationally. For example, through networking and reaching out to companies we were able to secure a £10,000 donation from BGL Group who have now become a supporter of the charity and help to spread awareness of the Charlie Gard Foundation throughout their staff across the whole company network.
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Expand our Garden Project to work with more independent companies and offer more opportunities for garden renovations for our clients. Although we have hit many challenges with this project it has allowed us to create lasting relationships within the landscaping industry and we are delighted to have secured a charity landscaper who will support all our Garden Projects through design, implementation and use of their current network. This is a huge step forward for us and we look forward to developing this relationship in the future.
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Organize more large-scale events throughout the UK and also support smaller local fundraisers too. This was impossible for us to implement this year, but we have started to make all the plans and preparations to ensure we can aim to deliver all of the planned events for 2021.
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Develop further relationships with key mitochondrial institutions throughout the UK and worldwide to develop new and innovative ways to support those suffering with mitochondrial disease with projects such as our passport initiative. We have connected with a variety of national and international institutions this year and look to explore more ways in which we can work together to support the wider mitochondrial community.
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In 2021/2022 we will aim to:
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Have sustainable income sources that allow for increased support and services for clients;
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Increase capacity for the amount of families and individuals we can support, and the level of support we can offer to ensure the very best quality of life for those affected by mitochondrial disease;
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Look to launch a second large campaign alongside our Garden Project that would help support our families with holidays and breaks. We aim to adapt a campervan with full disability access to allow our clients the opportunity to take a safe break away from home even for those with complex needs;
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Host local and national events to create revenue for the charity and look at creating hybrid events and fundraising activities that can be better suited to more challenging and restricted times. For example, we would like to launch a campaign called Challenge 21 that will offer immediate fundraising opportunities, create supporter communities and become our flagship fundraising campaign as we move forward;
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Create a second northern base for the charity and build local, lasting relationships throughout the north east of England to become an established local charity in this area;
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Continue to maintain and deliver all that we current offer and seek ways in which we can improve services, productivity and raising funds as we come out of the Covid 19 pandemic.
We will continue to support our clients through emotional and financial support, through fundraising campaigns, by offering grants for items required to offer better quality of life, supply memory making initiatives to ensure precious family time is enjoyed and continue to connect relevant clients with consultants and institutions when seeking alternative advice and treatments beyond our remit.
Statement of Trustees’ Responsibility
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing the financial statements, the trustees are 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 Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements[ on the going concern basis unless it is inappropriate to ] presume that the charity will continue in business.
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The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company and the group's transactions and disclose with reasonable accuracy at any time the financial position of the charitable group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure of information to auditors
Each of the persons who are trustees at the time when this trustees’ report is approved has confirmed that:
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so far as that trustee is aware, there is no relevant audit information of which the charitable group's auditors are unaware, and
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that trustee has taken all the steps that ought to have been taken as a trustee in order to be aware of any relevant audit information and to establish that the charitable group's auditors are aware of that information.
Constance Yates
Chair of Trustees
Date: 01/06/2021
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The Charlie Gard Foundation
Independent Examiner's Report to the trustees of The Charlie Gard Foundation
I report to the trustees on my examination of the accounts of The Charlie Gard Foundation for the year ended 31 March 2021.
Responsibilities and basis of report
As the charity trustees of The Charlie Gard Foundation you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the The Charlie Gard Foundation's accounts 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 145(5)(b) of the Act.
Independent examiner’s statement
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:
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accounting records were not kept in respect of The Charlie Gard Foundation as required by section 130 of the 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 accounting 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.
DJM Accountants BLJ Limited
DJM Accountants BLJ Limited
5 Stirling Court Yard Stirling Way Borehamwood WD6 2FX
Date: 01 June 2021
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The Charlie Gard Foundation
Statement of Financial Activities for the Year Ended 31 March 2021
| Unrestricted Restricted Total |
|
|---|---|
| funds funds 2021 |
|
| Note | £ £ £ |
| Income and Endowments from: | |
| Donations and legacies | 40,841 37,000 77,841 |
| Total income | |
| 40,841 37,000 77,841 |
|
| Expenditure on: | |
| Raising funds | (141,138) - (141,138) |
| Charitable activities | (248,126) - (248,126) |
| Total expenditure | |
| (389,264) - (389,264) |
|
| Net(expenditure)/income | |
| (348,423) 37,000 (311,423) |
|
| Net movement in funds | |
| (348,423) 37,000 (311,423) |
|
| Reconciliation of funds | |
| Total funds brought forward | |
| 740,745 280,293 1,021,038 |
|
| Total funds carried forward 11 |
|
| 392,322 317,293 709,615 |
|
| Unrestricted Restricted Total |
|
| funds funds 2020 |
|
| Note | £ £ £ |
| Income and Endowments from: | |
| Donations and legacies | 85,328 28,000 113,328 |
| Total income | |
| 85,328 28,000 113,328 |
|
| Expenditure on: | |
| Raising funds | (120,470) - (120,470) |
| Charitable activities | (175,475) - (175,475) |
| Total expenditure | |
| (295,945) - (295,945) |
|
| Net(expenditure)/income | |
| (210,617) 28,000 (182,617) |
|
| Net movement in funds | |
| (210,617) 28,000 (182,617) |
|
| Reconciliation of funds | |
| Total funds brought forward | |
| 951,362 252,293 1,203,655 |
|
| Total funds carried forward 11 |
|
| 740,745 280,293 1,021,038 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2020 is shown in note 11.
The notes on pages 6 to 14 form an integral part of these financial statements. Page 13
The Charlie Gard Foundation
(Registration number: 1176344) Balance Sheet as at 31 March 2021
| 2021 2020 |
|
|---|---|
| Note | £ £ |
| Fixed assets | |
| Tangible assets 8 |
1,730 2,307 |
| Current assets | |
| Cash at bank and in hand 9 |
711,485 1,021,131 |
| Creditors: Amounts falling due within oneyear 10 |
|
| (3,600) (2,400) |
|
| Net currentassets | |
| 707,885 1,018,731 |
|
| Netassets | |
| 709,615 1,021,038 |
|
| Funds of the charity: | |
| Restricted income funds | |
| Restricted funds | 317,293 280,293 |
| Unrestricted income funds | |
| Unrestricted funds | 392,322 740,745 |
| Total funds 11 |
|
| 709,615 1,021,038 |
The financial statements on pages 4 to 14 were approved by the trustees, and authorised for issue on 1 June 2021 and signed on their behalf by:
......................................... Miss C Yates Trustee
The notes on pages 6 to 14 form an integral part of these financial statements.
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The Charlie Gard Foundation
Notes to the Financial Statements for the Year Ended 31 March 2021
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
The Charlie Gard Foundation meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
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The Charlie Gard Foundation
Notes to the Financial Statements for the Year Ended 31 March 2021
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
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.
Tangible fixed assets
Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
| Asset class | Depreciation method and rate |
|---|---|
| Fixtures & fittings | 25% on reducing balance |
| Office equipment | 25% on reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Page 16
The Charlie Gard Foundation
Notes to the Financial Statements for the Year Ended 31 March 2021
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Page 17
The Charlie Gard Foundation
Notes to the Financial Statements for the Year Ended 31 March 2021
Debt instruments
Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:
(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.
(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.
(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).
(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.
(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.
(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).
Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.
With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.
Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.
Page 18
The Charlie Gard Foundation
Notes to the Financial Statements for the Year Ended 31 March 2021
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.
Derivative financial instruments
The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
2 Income from donations and legacies
| 2 Income from donations and legacies |
|
|---|---|
| Unrestricted | |
| funds Restricted Total |
|
| General funds funds |
|
| £ £ £ |
|
| Regulargivingand capital donations | 40,841 37,000 77,841 |
| Total for 2021 | |
| 40,841 37,000 77,841 |
|
| Total for 2020 | |
| 85,328 28,000 113,328 |
Page 19
The Charlie Gard Foundation
Notes to the Financial Statements for the Year Ended 31 March 2021
3 Expenditure on raising funds
a)
Management costs
| a) Management costs |
|||
|---|---|---|---|
| Unrestricted | |||
| funds | Total | ||
| General | funds | ||
| Note | £ | £ | |
| Allocated support costs | 89,639 | 89,639 | |
| Total for 2021 | 89,639 | 89,639 | |
| Total for 2020 | 99,890 | 99,890 | |
| Total | |||
| costs | |||
| £ |
4 Expenditure on charitable activities
| Unrestricted | |
|---|---|
| funds Total |
|
| General funds |
|
| Note | £ £ |
| Charitable services | 248,126 248,126 |
| Total for 2020 | |
| 175,475 175,475 |
Total expenditure £
5 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
Page 20
The Charlie Gard Foundation
Notes to the Financial Statements for the Year Ended 31 March 2021
6 Staff costs
The aggregate payroll costs were as follows:
| 6 Staff costs The aggregate payroll costs were as follows: |
|
|---|---|
| 2021 2020 |
|
| £ £ |
|
| Staff costs during the year were: | |
| Wages and salaries | 50,552 20,000 |
| Pension costs | 947 580 |
| 51,499 20,580 |
No employee received emoluments of more than £60,000 during the year
7 Taxation
The charity is a registered charity and is therefore exempt from taxation.
8 Tangible fixed assets
| 8 Tangible fixed assets |
|
|---|---|
| Furniture and equipment Total |
|
| £ £ |
|
| Cost | |
| At 1 April 2020 | 4,105 4,105 |
| At 31 March 2021 | 4,105 4,105 |
| Depreciation | |
| At 1 April 2020 | 1,798 1,798 |
| Charge for theyear | 577 577 |
| At 31 March 2021 | 2,375 2,375 |
| Net book value | |
| At 31 March 2021 | 1,730 1,730 |
| At 31 March 2020 | 2,307 2,307 |
| 9 Cash and cash equivalents |
|
| 2021 2020 |
|
| £ £ |
|
| Cash at bank | 711,485 1,021,131 |
Page 21
The Charlie Gard Foundation
Notes to the Financial Statements for the Year Ended 31 March 2021
| 10 Creditors: amounts falling due within one year |
10 Creditors: amounts falling due within one year |
|||
|---|---|---|---|---|
| 2021 | 2020 | |||
| £ | £ | |||
| Accruals | 3,600 | 2,400 | ||
| 11 Funds |
||||
| Balance at 1 | Incoming | Resources | Balance at 31 | |
| April 2020 | resources | expended | March 2021 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General | 740,745 | 40,841 | (389,264) | 392,322 |
| Restricted funds | 280,293 | 37,000 | - | 317,293 |
| Total funds | 1,021,038 | 77,841 | (389,264) | 709,615 |
| Balance at 1 | Incoming | Resources | Balance at 31 | |
| April 2019 | resources | expended | March 2020 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General | 951,362 | 85,328 | (295,945) | 740,745 |
| Restricted funds | 252,293 | 28,000 | - | 280,293 |
| Total funds | 1,203,655 | 113,328 | (295,945) | 1,021,038 |
12 Analysis of net assets between funds
| 12 Analysis of net assets between funds |
|
|---|---|
| Unrestricted Total funds at |
|
| funds 31 March |
|
| General 2021 |
|
| £ £ |
|
| Tangible fixed assets | 1,730 1,730 |
| Current assets | 711,485 711,485 |
| Current liabilities | (3,600) (3,600) |
| Total net assets | |
| 709,615 709,615 |
Page 22
The Charlie Gard Foundation
Notes to the Financial Statements for the Year Ended 31 March 2021
| Unrestricted Total funds at |
|
|---|---|
| funds 31 March |
|
| General 2020 |
|
| £ £ |
|
| Tangible fixed assets | 2,307 2,307 |
| Current assets | 1,021,131 1,021,131 |
| Current liabilities | (2,400) (2,400) |
| Total net assets | |
| 1,021,038 1,021,038 |
Page 23
The Charlie Gard Foundation
Statement of Financial Activities by fund for the Year Ended 31 March 2021
| Total Total |
|
|---|---|
| Unrestricted Unrestricted |
|
| Funds Funds |
|
| 2021 2020 |
|
| £ £ |
|
| Income and Endowments from: | |
| Donations and legacies | 40,841 85,328 |
| Total income | |
| 40,841 85,328 |
|
| Expenditure on: | |
| Raising funds | (141,138) (120,470) |
| Charitable activities | (248,126) (175,475) |
| Total expenditure | |
| (389,264) (295,945) |
|
| Net expenditure | |
| (348,423) (210,617) |
|
| Net movement in funds | |
| (348,423) (210,617) |
|
| Reconciliation of funds | |
| Total funds brought forward | |
| 740,745 951,362 |
|
| Total funds carried forward | |
| 392,322 740,745 |
This page does not form part of the statutory financial statements. Page 24
The Charlie Gard Foundation
Statement of Financial Activities by fund for the Year Ended 31 March 2021
| Total Total |
|
|---|---|
| Restricted Restricted |
|
| Funds Funds |
|
| 2021 2020 |
|
| £ £ |
|
| Income and Endowments from: | |
| Donations and legacies | 37,000 28,000 |
| Total income | |
| 37,000 28,000 |
|
| Expenditure on: | |
| Net income | |
| 37,000 28,000 |
|
| Reconciliation of funds | |
| Total funds brought forward | |
| 280,293 252,293 |
|
| Total funds carried forward | |
| 317,293 280,293 |
This page does not form part of the statutory financial statements. Page 25
Detailed Statement of Financial Activities for the Year Ended 31 March 2021
The Charlie Gard Foundation
| Total Total |
|
|---|---|
| 2021 2020 |
|
| £ £ |
|
| Income and Endowments from: | |
| Donations and legacies(analysed below) | 77,841 113,328 |
| Total income | |
| 77,841 113,328 |
|
| Expenditure on: | |
| Raising funds (analysed below) | (141,138) (120,470) |
| Charitable activities(analysed below) | (248,126) (175,475) |
| Total expenditure | |
| (389,264) (295,945) |
|
| Net expenditure | |
| (311,423) (182,617) |
|
| Net movement in funds | |
| (311,423) (182,617) |
|
| Reconciliation of funds | |
| Total funds brought forward | |
| 1,021,038 1,203,655 |
|
| Total funds carried forward | |
| 709,615 1,021,038 |
This page does not form part of the statutory financial statements. Page 26
The Charlie Gard Foundation
Detailed Statement of Financial Activities for the Year Ended 31 March 2021
| Total Total |
|
|---|---|
| 2021 2020 |
|
| £ £ |
|
| Donations and legacies | |
| Other donations | 37,000 28,000 |
| Other donations | 40,841 85,328 |
| 77,841 113,328 |
|
| Raising funds | |
| Wages and salaries | (50,552) (20,000) |
| Staff pensions (Defined contribution) | (947) (580) |
| Rent | (8,993) (9,163) |
| Insurance | (607) (732) |
| Telephone and fax | (1,655) (1,364) |
| Office administration | (440) (3,049) |
| Website build costs | (2,177) (11,280) |
| Travel accommodation and subsistence | (429) (3,550) |
| Advertising | (19,684) (32,582) |
| Accountancy fees | (1,656) (1,464) |
| Consultancy fees | (53,400) (35,910) |
| Bank charges | (21) (25) |
| Depreciation of fixtures and fittings | (257) (343) |
| Depreciation of office equipment | (320) (428) |
| (141,138) (120,470) |
|
| Charitable activities | |
| Charitable services | (248,126) (175,475) |
| (248,126) (175,475) |
This page does not form part of the statutory financial statements. Page 27