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2022-03-31-accounts

(Charitable Incorporated Organisation)

Report and Financial Statements

Year ended: 31[st] March 2022

Charity number: 1176344

The Charlie Gard Foundation

Year ended 31[st] March 2022

Contents
Reference and Administrative Information 1
Trustees’ Annual Report 2
Report of the Independent Examiner 9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the Financial Statements 12-20

Reference and administrative information

Trustees

Mrs S Roundsmith Mr C Da Silva Mr J Mendlesohn

Registered charity number : 1176344

Principal office

Centurion House London Road Staines-upon-Thames Surrey TW18 4AX

Independent Examiner

DJM Accountants 5 Stirling Court Yard Stirling Way Borehamwood Hertfordshire WD6 2FX

Bank

The Co-operative Bank 80 Cornhill London EC3V 3NJ

1

The Charlie Gard Foundation

Trustees’ Annual Report

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

Report of the trustees for the year ended 31[st] March 2022

The trustees present their annual report and financial statements of the charity for the year ended 31[st] March 2022. 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 re-appointment in any one year.

All major decisions are made by the board of trustees.

2

The Charlie Gard Foundation

Trustees’ Annual Report (cont’d)

Trustees are approached to join based on the following criteria and, after discussions, are invited to join the board:

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:

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.

3

The Charlie Gard Foundation

Trustees’ Annual Report (cont’d)

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:

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 was 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:

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.

4

The Charlie Gard Foundation

Trustees’ Annual Report (cont’d)

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.

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 was the most challenging to date as we were met with a worldwide 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-toface 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 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.

5

The Charlie Gard Foundation

Trustees’ Annual Report (cont’d)

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.

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.

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.

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.

6

The Charlie Gard Foundation

Trustees’ Annual Report (cont’d)

Since inception further amounts of £80,919, £113,328, £77,841 and £96,266 were received as donations in the financial periods ended 31[st] March 2019, 31[st] March 2020, 31[st] March 2021 and 31[st] March 2022 respectively. The total donations received at the end of this financial period was £1,564,844.

Plans for the future

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:

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.

7

The Charlie Gard Foundation

Trustees’ Annual Report (cont’d)

Disclosure of information to independent examiners

Each of the persons who are trustees at the time when this trustees’ report is approved has confirmed that:

C Da Silva Trustees Date: 28/07/2022

8

The Charlie Gard Foundation

Independent Examiner's Report to the trustees of The Charlie Gard Foundation

We report to the trustees on our examination of the accounts of The Charlie Gard Foundation for the year ended 31 March 2022.

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’).

We 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 our examination We have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

We have completed our examination. we 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:

  1. accounting records were not kept in respect of The Charlie Gard Foundation as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. 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.

We 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.

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5�Stirling�Court�Yard� Stirling�Way� Borehamwood�WD6� 2FX

28�July�2022

Page��

The Charlie Gard Foundation

Statement of Financial Activities for the Year Ended 31 March 2022

Note
Income and Endowments from:
Donations and legacies
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
12
Note
Income and Endowments from:
Donations and legacies
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net (expenditure)/income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
12		 Unrestricted
funds
£
96,266
96,266
(144,063)
(117,765)
(261,828)
(165,562)
(165,562)
392,322
226,760
Unrestricted
funds
£
40,841
40,841
(141,138)
(248,126)
(389,264)
(348,423)
(348,423)
740,745
392,322		 Restricted
funds
£
-
-
-
-
-
-
-
317,293
317,293
Restricted
funds
£
37,000
37,000
-
-
-
37,000
37,000
280,293
317,293		 Total
2022
£
96,266
96,266
(144,063)
(117,765)
(261,828)
(165,562)
(165,562)
709,615
544,053
Total
2021
£
77,841
77,841
(141,138)
(248,126)
(389,264)
(311,423)
(311,423)
1,021,038
709,615

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2021 is shown in note 12.

The�notes�on�pages�7�to�15�form�an�integral�part�of�these�financial�statements.� Page���

The Charlie Gard Foundation

(Registration number: 1176344) Balance Sheet as at 31 March 2022

Note
Fixed assets
Tangible assets
8
Current assets
Cash at bank and in hand
9
Creditors: Amounts falling due within one year
10
Net current assets
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
12		 2022
£
1,297
550,265
(7,509)
542,756
544,053
317,293
226,760
544,053		 2021
£
1,730
711,485
(3,600)
707,885
709,615
317,293
392,322
709,615

The financial statements on pages 5 to 15 were approved by the trustees, and authorised for issue on 28 July 2022 and signed on their behalf by:

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Mr�C�Da�Silva Trustee

The�notes�on�pages�7�to�15�form�an�integral�part�of�these�financial�statements.� Page���

The Charlie Gard Foundation

Notes to the Financial Statements for the Year Ended 31 March 2022

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.

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.

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.

Page���

The Charlie Gard Foundation

Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)

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�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���

The Charlie Gard Foundation

Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)

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.

Financial�assets�and�liabilities�are�only�offset�in�the�statement�of��nancial�position�when,�and�only� 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���

The Charlie Gard Foundation

Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)

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�1�

The Charlie Gard Foundation

Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)

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

Regular giving and capital donations
Total for 2022
Total for 2021		 Unrestricted
funds
General
£
96,266
96,266
40,841		 Restricted
funds
£
-
-
37,000		 Total
funds
£
96,266
96,266
77,841

Page�1�

The Charlie Gard Foundation

Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)

3 Expenditure on raising funds

a) Management costs

Note
Allocated support costs
Total for 2022
Total for 2021		 Unrestricted
funds
General
£
69,406
69,406
89,639		 Total
funds
£
69,406
69,406
89,639
Total
costs
£

4 Expenditure on charitable activities

Note
Charitable services
Total for 2021		 Unrestricted
funds
General
£
117,765
248,126		 Total
funds
£
117,765
248,126

Total expenditure £

5 Trustees remuneration and expenses

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

Page�1�

The Charlie Gard Foundation

Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)

6 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Pension costs		 2022
£
73,244
1,413
74,657		 2021
£
50,552
947
51,499

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

Cost
At 1 April 2021
At 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021
9 Cash and cash equivalents
Cash at bank		 Furniture and
equipment
£
4,105
4,105
2,375
433
2,808
1,297
1,730
2022
£
550,265		 Total
£
4,105
4,105
2,375
433
2,808
1,297
1,730
2021
£
711,485

Page�1�

The Charlie Gard Foundation

Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)

10 Creditors: amounts falling due within one year

10 Creditors: amounts falling due within one year
Other taxation and social security
Other creditors
Accruals		 2022
£
2,323
386
4,800
7,509		 2021
£
-
-
3,600
3,600

11 Pension and other schemes

Defined contribution pension scheme

The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £1,413 (2021 - £947).

12 Funds

Unrestricted funds
General
Restricted funds
Total funds
Unrestricted funds
General
Restricted funds
Total funds		 Balance at 1
April 2021
£
392,322
317,293
709,615
Balance at 1
April 2020
£
740,745
280,293
1,021,038		 Incoming
resources
£
96,266
-
96,266
Incoming
resources
£
40,841
37,000
77,841		 Resources
expended
£
(261,828)
-
(261,828)
Resources
expended
£
(389,264)
-
(389,264)		 Balance at 31
March 2022
£
226,760
317,293
544,053
Balance at 31
March 2021
£
392,322
317,293
709,615

Page�1�

The Charlie Gard Foundation

Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)

13 Analysis of net assets between funds

13 Analysis of net assets between funds
Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets		 Unrestricted
funds
General
£
1,297
550,265
(7,509)
544,053
Unrestricted
funds
General
£
1,730
711,485
(3,600)
709,615		 Total funds at
31 March
2022
£
1,297
550,265
(7,509)
544,053
Total funds at
31 March
2021
£
1,730
711,485
(3,600)
709,615

Page���