Charity règistration numb•r 1178339 MADDI'S BUTTERFLIES ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 MADDI'S BurrERFLIES LEGAL AND ADMINISTRATIVE INFORMATION Trusts95 H Foster K Foster S Cumtm) D Boardman S Ajlan (Chairl M Allan N Hall Charlty numbor 1178339 Prlnclpal address 3 Lords Crescent Lower Darwen Darwen Lancashire 6B3 OSU Indopgndgnt gxarnln•r PeterAlkinson F.C.A. JS. Accounlants and BusinessAdvisors Limited Ja￿$ Housg Yew T￿e Way Warringlon Cheshire WA3 SJD Bank•r8 National Westminster Bank PIC Market Street Darwen Lancashir¢ 883 1BN MADDI'S BurrERFLIES CONTENTS Page Trustees. report Independent ex8minerfs reKK*t Slalernenl of financi81 actiwt Balance shgel Notes to the financial staternents 7-16 MADDI'S BurrERFLIES TRUSTEES, REPORT FOR THE YEAR ENDED 30 APRIL 2024 Thè trustees present their annual r8POrt and financial statem8nts ft>r th8 year ended 30April 2024. The financial statements have been prepare(l in accordance Ihe accounting poli(#es set out in note 1 to the financial statements and comply with the charity's goveming document. the Charities Act 2011 and "Accounting and Re￿rtIng by Charities.. Statement of Recommended Practice applicable io charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 (effective 1 January 20191 Objectlves and actlvltles The charity's objects are to relieve the needs of young people wlh Neuroblastoma and other rare fomis ol childhood cancers. their families and carers as the trustees shall de¢emiine. The trustees have paid due regard to 9uidance issued by the Charity Commission in deciding what actsvits85 Ihe charity should undertake. The trusiees are satisfied that they have cornplied with Iheir duty to have due regard io the guidance on public benefit published by th8 Comrnission in exércising their powers or dul*s. The ¢harity ¢ontinue$ lo strive to put a Smile back on the la¢es of d)ild￿n suffwing wilh Neufoblastoma or other r8rè loms ol childhoo(J cancèr. Achlév•m•nt8 and p•rfomian¢• During the year to 30 April 2024, the Charity Work￿ on key ¢)bjeth'v8s to solidfy growth of th? charity and drive our projects fomard. The first wa5 in relation to establishing a new relail unil in Acrrrington. The aim in doing this is lo build on the success of the firs¢ retail unil acquired in 2017, in Pre5￿Ch Greater Manchester. The Pre5fv4ich shop has done much to bring in funds and raise 8w8reness ol the ¢h8wity- The second key objeclive was to focus and build on Ihe Smile Bag project, which was established during 2020. The Smile Bags continue to be immensely popular with the chddren they are prowded to. and they are a pleasure to prepare. During the year to 30 Apnl 2024. Smile Bags were mainty provided to children beginning their cancer treatment at the Royal Manchester Children's Hospitsl. and other hospitsls. The reusable bags are specially designed and filled with lun and age-appropriale goodies. The bags let Ihe chIld￿n know that they are important and cared for during this time. Grants continued lo be sought io cover the o)sts ol p￿paring the bags. Trustees took the decision lo take out a lease on a new relail unit in Accrington. in line wilh plans outlined in our report for the year lo 30 April 2023. We carefully Conside￿ the impact of Ihis on the charity, and fully ￿searChed the rnarkel to find Ihe most appropriate unit for this. We were keen io build on Ihe success of the PreS￿Ich shop, both in terns of raising lunds and awareness ol the charity. In acquiring the unit in Accrington, we had to ouuay o)sts of over £S.S00 during the year to 30 April 2024. as well as commit to annual rent of £10.800. Much of Ihe initial oullay are on&off costs lo invest in the shop lo bring il up lo the standard of our PreS1v￿Ch unit. Both the Accrington and Preslwich units now bring in o)mbined regular rnonlhly inwme ol around £9.500 and are inlegral to our charity. The annual Pyjama Appeal ran during the year and continue to recEive SO1￿ support. During the year to 30 April 2024 700 pairs of pyjamas We￿ received as part of the annual appeal in De￿mber 2023 and over 200 children were provided with pyjamas and gifts at the Royal Manchester Children's Hospital. The trustees rewgnise that the Pyjarn8 Appeal remains to be txjpular. As wlh many in the sector. the charity has been affected by fiscal conditions. with a combination of rising costs and people having less disposable income to spend. We accepl that there are challenges in the currenl fiscal environment, and we adjusted our overheads ac¢xTrr(lingly. We are also in the process of 8pplying for key grants to support LJS in both raising the charity's profile and in(xeasing the number of children we can h81p with our Smile Bags project. MADDI'S BurrERFLIES TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 Chair's financial review We remain extremely grateful for everything our supwrteys and don0￿, both localty and national￿, do for Maddi's Buttefflies. We rely so much on the goodwll ol our supporters. which in tum enables us to nol only continue to fulfil our objectives, but lo also expand our offering to help ease ihe sulfenng ol as many children undergoing cancer treathient as we can. Financial rgview The tolal incoming resources on un￿Stricted funds during the year amounted to £122,83912023- £130,268). The total incoming resourc•s on restricted lunds during Ihe year amounled to £nil12023- £nill. The totsl resource5 expended on unreslncted fund5 during the ygar amounted to £13B.35812023- £114,9261. Unrèstrfetad fund balances at thè year4nd amountèd to £48.93812023- £64.4571. The total resourc8s expended on r•stricted lunds dtsring th• year amounted to £7.84812023- £6.0551. Restricted fund balances at Ihe year*nd amounted lo £1.30712023- £9.1551. Reseryes policy It is the policy ol the charity that unrestricted funds which have not been designated lor a specific use should be maintained at a level equivalent to be￿een Ihree and six months expenditure. The trustees considers that reserves al this level will ensure that. in the event of a significant drop in funding. Ihey wll be able to continue the charity's currenl activities while consideration is given lo ways in which additional funds may be raised. This level of reserves h88 been maintsined throughout the yegr. M8jorrlsks The trustees have a risk managernenl strategy which compnses.. an annual review of the principal risks and Uncertainl￿ that the Charity faces. the e5￿￿lShment of policae5. 5yslems and procedure5 to mitigale those risks idenlifie(J in the annual review. th8 implemènt8tion ol procédur&s d&si9n¢d to minimisg or manago any potèntial impact on tha eh8rity should thèsa risks matorialisa. This work has identified that financial sustaIna￿lIty of the Charity is the major finanaal risk for the Charity. Structure, govemance and management The charity was rag1st8r￿1 as a Chantablè 1ncoryjo￿tSd Organisation on 10 May 2018. The trustees who seNed during the year and up to Ihe date of signalure of the finanaal stat&ments were.. H Foster K Foster S Curnbo D Boardman S Allan (Chairl M Allan N Hall Recmrfment and appoinlment of tmstees The chair is responsible for the induckn'on of n8w trustees. The induction provides new tnJst8es wth 8n awar8ness of their responsibiliti"es, the goveming dr￿ment and the history and philosophical approach of the charity. There are currently 7 trustees who meet quarterty. The trustees have assessed the major risks to which the charity is exposed, and a￿ satisfied that systems are in place to mitsgate ex[QSU￿ to the major risks. MADDI'S BurrERFLIES TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 The Trustees. report was approved by the Board of Trustees. S Allan Ichalrl 9 January 2025 MADDI'S BurrERFLIES INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MADDI'S BUThERFLIES I r8POrt to the trust88s on rny exarninalitin of th8 finanual stat8m8nts of Maddi's Butt8ffli8s lthe charity) ft)r tha ya8r ended 30 April 2024. ResponslbSlltles and basls of report A5 the truste85 of th& tharity you are r85ponsibl8 for the preparation of th8 financial statem8nts in accord8nc8 with the requir8mellts of th8 Charit185 Act 2011 Ith8 2011 Acti. I report in respect of my examination of the charity's finanaal statements carried out under sectKsn 145 of the 2011 Act. In carrying out my examination I have fdlowed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examinerfs ststement I have completed my examination. I confimi that M matters havè comè to my attèntion In connectlon wlth th examinats'on giving me cause to believe that in any material respect.. 8ccounling records were not kept in respec¢ of Ihe charty as required by seclion 130 of the 2011 Act.. or the financial statements do nol accord with tfvxe ￿cOlds.. or the fin8n¢ial $tatements do nol ¢omply with the applicable requirements conceming the lom and content ol accounts sèt out In the Charilias (Accounts and Reports) Regulations 2008 other than any rèquiremènt that tha accounts givè a truè and lair view which is not a matter consKl8red as part of an indapèndènt axamination. I have no c1￿CernS and have come across no other matters in connection th8 examination lo which attention should be drawn in this report in order to enable a proper understsnding of the financAal ststements to be reached. P•t•rAtkln$on F.C.A. JS. Accountants and BusInessAdvisc￿ Limit James House Yèw Trèa Way wa￿1n910n Cheshire WA3 3JO Datgd.. Jan 31, 2025 MADDI'S BurrERFLIES STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 APRIL 2024 Unrèstrlct•d R•strlet•d funds fvnds 2024 2024 Total Unrestrlct•d Rèstrlcted funds fvnds 2023 2023 Total 2024 2023 Notes Income and endowments from". Donations and legacies Aetivities for generatin9 funds Inve5trngnts Other incom& 17.564 17.564 7.157 7,157 104.843 432 104.843 432 98.499 166 24.446 98,499 24,446 Total Incom• 122.839 122.839 130.268 130,268 Exponditure on: Costs ol gener8tsng funds Charitable aclivilies 136.308 2.050 136.308 9.898 99,070 15.858 99,070 21,913 7,848 6,055 Tol41 •xpendltur• 138.358 7,848 146.206 114.928 6,055 120,983 N•t In¢omdl•xpèndltur¥l and mov•m•nt In lund• 115.519} 17,8481 123.3671 15.340 16,0551 9,285 R•conclllatlon of funds.. Fund balances 311 May 2023 64.457 9,155 73.612 49,117 15,210 64,327 Fund b#l#ne•• •130 Apdl 2024 48.938 1,307 50.245 64.457 9,155 73,612 The stslement of financial activities indude5 all gains and10$8es rewgnised in the year. All income and expenditure derive Irom continuing 8cDviDes. MADDI'S BurrERFLIES BALANCE SHEET AS A T 30 APRIL 2024 2024 2023 Flxad assèts Intangibl8 assets Tangible assets 12 13 1.620 19.127 1.890 10,617 20,747 12,507 Current assets Stocks Debtors Cash at bank and in hand 14 15 3,500 3,897 60,570 8,396 24.816 36,712 67,967 Cmdltors: amount8 falllng duè wlthln on• y•ar 16 (7.2141 16,8621 N•t curr•nt a88•18 29.498 61,105 Total a88•ts1088 current Ilabllltl88 50.245 73,612 Th• funds of th• eharlty Restricted income funds Unrestricted funds 18 1,307 48.938 9,155 64,457 50.245 73,612 The financial statements were approved by thè Iwstees on 9 January 2025 S Allan (Chairl MADDI'S BurrERFLIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 Aeeounting polieies 1.1 Aecountlng conv•ntlon The financial statements have been prepared in accordance with the charitys gov8ming document. the Charities Act 2011 and 'Accounting and Retthing by Ch8ritses'. St8t8m8nt of R8corntn8nd8d Practice applicabl8 to charities pr8paring their accounts In accordance with th8 Financial R8POrting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191.. The charity is a Public Benefit Enlily as defined by FRS 102. The financial slalements are prepared in slerliThJ. whith is the fvnct¥Jnal currency of the charity. Monetary arnounts in these finanryal statements are rounded lo the nearest £. The financial statements have been prepare(l under Ihe hi5toric81 cost c￿nVentiOn. The principal accounting ptsli¢ies adopted are sel ￿11 below. 1.2 Golng eone*rn At the time ol approving the financial slaiements. the trustees have a reasonable expectation that the charity ha5 adequate resource5 to conbnue in operational existence for the loreseeable futu￿. Thus the trustees continue to 8dopl the going concern basis 018CC£•unling in prep8ring the finanry81 Statements. 1.3 Charllablo funds Unrèslnct8d funds 8ra availablè lor usè at thè dis¢rntion of thè tnjstaès in lurthèrancè of thair charitabla objectives. Restricted funds are subject to speofic ¢ondition$ by ¢Jonors N granlors 8$ to how they may be used. The purposès and usès ol thè r•strict8(J lunds arè s81 oul in Ihè notés to thé financial st8lèmènts. Endowrnenl funds are subject to specrfic conditions by ￿OrS that the capitsl musl be mainlained by the ¢h8rily. 1.4 Income Ineoma is racognis￿ whèn th8 charity is legally *￿￿tI*d to it after any pèrfomancè conditions hava baan mèt, thè amounts can be mèasur811 raliably. and il is proba￿* that incomè wll b8 i8￿1V&d. Cash donations are recogni5ed on r￿elpt. Other donations are recogni5ed once the charity h8s been notified of the donation, unles$ perfoman¢& ¢ty)ditions rèquire dèfèrral ol the amount. In¢ome tax rtreoverable in r818tion to donations r8eeiv8d undar Grft Aid or dèads of covanant is r8cognis•d at thè timè of thè donation. Legacies are recogni5ed on r￿1p1 or othe￿ise if the charity ha5 notif￿ of an impending dislributs'on, the arnount is known, r$ceipl is trxped￿. W the amouni 1$ not knovm, the lega¢y is tre8t$d as 8 contingent asset. 1.5 Expenditure Resources expended are recognised in the perwjd in which they are paid and indude attributable VAT which cannot be recovered. Where resources expended relate to a speafic activty. ihe c05t has teen d1￿C￿Y allocated to that activity when the 8mount is paid. Support costs have been allocated to the activities on a basis consistent with the level of income recelved on each activity. MADDI'S BurrERFLIES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 Accountlng pollcles IContSnuedl 1.6 Intsngible fixed assets oth¢r than goodwill Intangible assets acquired separately from a business a￿ recognised at o)st aThJ are subsequently measured al cost less accumulated amortisation and acujmulaled impaiment losses. Amortisation is recognised so as tts VAite off Ihe cost or valuats.on of assets less their ￿SidUal values over their useful lives on the following bases". Software 15% per annum on 8 straight line basis 1.7 Tangible fixed assets Tangible fixed assets are iniljalty measure(l al cost and $ubsfjqts&nlly mea$ufed at ¢ost. net of dèpreeiatlon and any impaiment losses. Tangible fix$d asststs are st8te(l al ¢osl I￿ d¥pre(i81ion. DtrpretyalK￿ is providgd al rates Calculated lo write off the cost1g$$ estimated ￿$laU31 value ol ¢a¢h a$set ovgr its expa¢tsd us¢ful Ill$, as follows.. Fixtures and filting8 15% per annum on a reducing balance basis The gain or loss arising on the disposal of an asset is determined as th8 difference be￿een the sale proceeds and the carrying value of th8 asset. and is recognised in the ststement of financial activities. 1.8 Impalrm•nt of ff x•d 88sèts At each reporting end date. the charity reviews the carrying arnounts of its t8ngible 8nd int8ngible assets to doterrnine whether there is any indi¢aii¢)n th81 assets have suffered an impaimtrnt loss. 11 any such indiealion èxists, thè rÉcov6f8blè amount of thè as￿1 is èstimatèd in ordèr to dètèminè th8 èxtènt of thè impaimienl loss Irf any). 1.9 Sto¢k¥ st￿ks are stated at the lower ol cost and estimated selling price ￿sS CA)sts to cnmplete and sell. 1.10 Ca•h and eash •qui¥altnts Cash and cash equivalenls include cash in hand. deposits held at call with banks. other short-lemi liquid investrnents with original maturities of Ihree rnonlhs or less. and bank overdrafts. Bank overdraft5 are shown wthin borr¢)wing5 in currenl li8bilities. 1.11 Financial instruments The charity has elected lo apply the provision5 of Section 11 'Basic Finanoal Instruments, and Section 12 'Olher Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are re￿niSed in Ihe charty's balan(x sheet when the charity becotnes party to the contractual provisions of the inslrument. Financial assets and liabilities are offsel. with the nel amounls p￿sented in the financial statements. when there is a legally enfor￿able righl to set off the re￿nised arnounts and there is an intention to setue on a net basis or to ￿alIse the assel and setue the liability simullaneousty. Basic fin?nci?l Jssets Basic financial assets. which indude debtors and cash and bank balan￿$, are initially measured at transaction pri￿ including transaction cosls and are subsequently carried at amortised o)st using the effective interest method unless the arrangement constituies a financing transaction. where the transaction is measured at the present value of the future rec£ipis discounled 8t a market rate of interesl. Fin8n¢i818ssets cl8ssrfied as receivable within one year are rK>t arnorbsed. MADDI'S BurrERFLIES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 Accountlng pollcles Icontlnuedl Derecognition of finan¢ial4ssets Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are selled. or when the charity transfers the financial asset and substantially all the risks and rewards ol ownership to another entity. or if some significant risks and rewards of ownership are retained but control ol the asset has transferred to another paty that is able to sell the asset in ts entirety to an Unrelated third party. Basic financial liabllitles Basic financial liabilities. including ￿dItOrS and bank loans are inttially recognised at transaction price unless the arrangernent constitutes a financing IransacI￿n. where the debt instrument is measured al the present value of the future payments discounled at a markel rate of inleresL FinancAal liabilities dassffied as payable within one year are not amortised. Debt In$trum$nts are subsoquently Carri￿1 8t amth"$e for independent exarnination fees. Net mov•ment Sn fund• 2024 2023 The net movement in funds is 8t8led after thargintylueditingl: Depreciation ol owned tsngible fixed assets Lossllprolill on diswsal ol langible fixed assels Amortisation ol int8ngibl& a￿ets 1,892 3,060 124,4461 270 270 10 Trustees One ol the trustses received remuneration during lh& ye8r 01 £23,29512023- £23,667). None Of the trust&e5 r6cèivèd any bènèfits or èxpènsès from th8 charity during thè yèar. 11 Employ••s The average monthly number of employees during the yearwas= 2024 Number 2023 Number Charitable activities Managemenl Total 12 MADDI'S BurrERFLIES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 11 EM￿OYeeS Icontlnuedl Employment costs 2024 2023 Wages and salaries 78,180 62,317 There were no èmployeès w￿se annual remuneration was morè than £60.000. 12 Intanglble flxed assets Sofv•r• Cost At 1 May 2023 and 30 April 2024 2,160 Amortlsatlon and impalrni•nt At 1 May 2023 ArnortlS8tion charged for ¢he year 270 270 AI 30 April 2024 540 C¥rylng •mount At 30 April 2024 1,620 At 30 April 2023 1,890 13 Tanglbl• flx•d 888•t8 Flxtur•8 •nd fftllng9 Cost At 1 May 2023 Additions 16,159 10,402 At 30 April 2024 26,561 O•pr•eiation and Impaimi•nt At 1 May 2023 Depreciation charged in the year 5,542 1,892 At 30 April 2024 7,434 Carylng amount At 30 April 2024 19,127 At 30 April 2023 10,617 13- MADDI'S BurrERFLIES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 14 Stoeks 2024 2023 Gifts and consumables 3,500 3,500 15 0•btors 2024 2023 Amounts falllng duè wlthln on• ￿ar. Other debtors Prepaymonis and 8c¢ru¢d incom¢ 1,367 7.029 3,897 8,396 3,897 16 Credltors: amounts falllng due wlthln one ywr 2024 2023 Othèr tax81ion and social ￿ullty Trade creditors Othèr creditors Accruals and deferred inc4)me 650 4,767 154 1,643 691 4,410 154 1,607 7,214 6,862 17 Retlrement benefit schemes Oefined contributlon schemes The chanty operates a defined contribution pOns￿n schame for all qUalif￿"n9 8mploy￿s. Thè Bss8ts of tha scheme are held separately from those ol the charity in an independenlly administered fund. 14- MADDI'S BurrERFLIES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 18 Restricted funds The income fvnds ol Ihe charity ind[￿e restricted funds comprising the lollowing unexpended balances of donations and grants held on tNst for specafic purposes: At 1 May 2023 Re$our¢es expended At 30 April 2024 Funds provided for the provision of Smile Bags 9.155 17.8481 1,307 Pr•vlou8 y•ar: At 1 May 2022 Resources •xp•nd8d At JO Aprll 2023 Funds provided lor provision of SMI￿ 8ag$ 15.210 18,0551 9,1SS 19 An4ly$l$ of net *¥sets htween fund¥ Unrestrlcted funds 2024 Restrlcted fund$ 2024 Total 2024 At 30 Aprll 2024: Intangible fixed assets Tangible 85sels Current assetsllliabiliti8sI 1,620 18.407 28,911 1,620 19,127 29,498 720 587 48,938 1.307 50,245 unT￿trICted funds 2023 Re8trlct•d funds 2023 Total 2023 At 30 April 2023= Intangible fixed assets Tangible assets Current assetsllliabililiesl 1.890 9,710 52.857 1,890 10,617 61,105 907 8.248 64.457 9.155 73.612 15- MADDI'S BurrERFLIES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 20 Operating lease eommitrnents At the reFKJrting end date the charrty had outstanding commibnents for ftrture minimum lease payments under non-cancellable operating leases. vthich fall due as fdlows.. 2024 2023 Within one year 6gtW88n two and five yea In over live years 28,800 115,200 36,000 15,000 60,000 62,500 180,000 137,500 21 R•lat•d party transactlon• Other than Iruste6s' remuneration as disdosed in note 10 ther6 were no other related paty transactions. 16-