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2021-12-31-accounts

BRIGHT RED CHARITY

(A charitable company limited by guarantee)

REPORT AND UNAUDITED FINANCIAL STATEMENTS

31 DECEMBER 2021

Registered company number 11386486 Registered charity number 1178566

JOSEPH MILLER Chartered Accountants Newcastle upon Tyne

BRIGHT RED CHARITY

FINANCIAL STATEMENTS

PERIOD ENDED 31 DECEMBER 2021

CONTENTS PAGE
Reference and administrative details 1
Trustees’ annual report 2-6
Independent examiner’s report 7
Statement of financial activities 8
Balance sheet 9
Statement of cash flows 10
Notes to the financial statements 11-17

BRIGHT RED CHARITY

REFERENCE AND ADMINISTRATIVE DETAILS

Board of trustees Mr M Thompson_(Chair)_ Mr M Thompson_(Chair)_
Professor M Collin
Dr G Jones
Mrs K Richardson (resigned 21 June 2021)
Mr P Towns (resigned 13 September 2022)
Mr I Pedley
Dr V Hervey
Mr D Tompkins
Mr J Foggin (resigned 20 July 2021)
Mr P Smith (resigned 24 May 2022)
Miss C Dickinson
Mrs K McRae
Charity manager Ms L Saxton
Scientific/medical panel selectors Professor M Collin (Co-ordinator)
Dr G Jones
Charity number 1178566
Company number 11386486
Working name Bright Red
Registered office Ward 33 Freeman Hospital
Newcastle upon Tyne
NE7 7DN
Independent examiner D R Gold
Joseph Miller
Chartered Accountants
Milburn House
Dean Street
Newcastle upon Tyne
NE1 1LE

Bankers		 Natwest Bank plc
16 Northumberland Street
Newcastle upon Tyne
NE1 7EL
Investment advisers Seven Investment Management LLP
55 Bishopgate
London
EC2N 3AS
Solicitors Muckle LLP
Time Central
32 Gallowgate
Newcastle upon Tyne
NE1 4BF

- 1 -

BRIGHT RED CHARITY

REPORT OF THE TRUSTEES

31 DECEMBER 2021

The trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the unaudited financial statements of the charity for the year ended 31 December 2021, which are also prepared to meet the requirements for a directors’ report and financial statements for Company Act purposes.

Reference and administrative details set out on page 1 form part of the report. The financial statements have been prepared in accordance with the accounting policies set out in note 2 and comply with the memorandum and articles of association, the Charities Act 2011 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 – Charities SORP FRS 102 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Structure, governance and management

Governing document

Bright Red Charity is a company limited by guarantee, incorporated on 29 May 2018 and registered as a charity on 30 May 2018. It is governed by its memorandum and articles of association.

Recruitment and appointment of trustees

Trustees are appointed by a decision of the board of trustees. Each trustee shall retire from office at the conclusion of the third annual trustee meeting following the commencement of their term of office, but may be appointed for a consecutive period. A trustee who has served for six years consecutively must take a break from office and may not be appointed until the earlier of the anniversary of the commencement of their break from office and the annual trustee meeting following the annual trustee meeting at which their break from office commenced.

When looking to appoint new trustees, the charity would. in particular, seek those with suitable skills, knowledge and experience who would contribute to and enhance the range and diversity of expertise on the board. The board also expects trustees to have a passion for the charity’s cause, fighting blood cancer.

Recommendations can be made to the board of trustees and subsequent approaches made to the individuals in question. The application process includes a review of a candidate’s curriculum vitae and a personal statement, which are presented to the board of trustees for their consideration.

The role of Chair is an essential trustee position. The Chair must possess demonstrable considerable business and leadership experience. Future recruitment processes could be expanded and widened to recruit replacements for these two roles when required.

The trustees for the purposes of charity law, who are also directors for the purpose of company law, who served during the year and up to the date of this report are set out on page 1.

Policies and procedures adopted for the induction and training of trustees

New trustees are provided with all relevant Charity Commission publications as well as the charity’s governing document.

- 2 -

BRIGHT RED CHARITY

REPORT OF THE TRUSTEES

31 DECEMBER 2021

Organisation

The charity is managed by the trustees. The number of trustees may not be less than three, but is not subject to any maximum. The quorum for the transaction of business is one third of the trustees or two trustees, whichever is greater. The trustees consist of Honorary Officers and a Chair. The trustees held three meetings in 2021 with additional updates sent via email.

The trustees delegated the day to day administration of the charity to Ms L Saxton, Charity Manager.

Relationship with other organisations

The charity agreed to administer the funds of the North East Haematology Nurses Group (NEHNG) as its agent, for them to deliver the biannual nursing conference. As agent, the charity acted in line with the instructions of the NEHNG, when administering the funds. The NEHNG have been unable to deliver the biannual nursing conference due to COVID, with no future date discussed.

Any funding requests to the charity from the NEHNG follow the normal grant application process.

Further details are shown in note 18 to the financial statements.

Risk management

The charity is small and tightly run with safeguards to cover all identified risks. These are reviewed regularly at trustees’ meetings.

The database system Donorfy is used to securely manage donations and supporter records.

The charity’s financial reporting and grant management are managed by an accounts package, internal financial reports and a grant tracker for the charity’s grant expenditure.

Objectives and activities for the public benefit

The objectives of the charity for the benefit of the public benefit are:

Our vision is to improve the lives and treatment of people with blood cancer across the north of England. Through investments in patient care, research and education we are striving to beat illnesses such as leukaemia, lymphoma, myeloma, myelodysplasia and myeloproliferative diseases.

The trustees confirm they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing Bright Red Charity’s aims and objectives and in planning future activities.

- 3 -

BRIGHT RED CHARITY

REPORT OF THE TRUSTEES

31 DECEMBER 2021

Grant making policy

All grant applications were presented to trustees in the meeting papers issued in advance of board of trustees’ meetings aside from Lee Robson Patient Care Grants. The decisions to award grants sat with the board of trustees, who approved or declined funding at the board meetings. An exception to this was made if the deadline of the activity in question, such as an educational conference, would be reached before the next meeting. In this instance the application in question would be shared with trustees for their decision by email.

Professor Matt Collin continued his role as co-ordinator of the scientific panel for the selection of referees to consider research grant applications and to make recommendations to the trustees. All projects receiving grant support were monitored on an annual basis.

In addition to research, the charity provided patient care and education grants. Applicants can request grant application forms by emailing support@brightred.org.uk.

The Lee Robson Patient Care Award application forms were held at the hospitals at which these grants are funded. These forms require two healthcare professionals from the hospital who are part of the patient care team, to sign the application before sending to the Charity Manager. The application is reviewed for approval by the Charity Manager.

Achievements and performance

The trustees of Bright Red, an unincorporated registered charity, number 1105891, considered that the objects of the charity would be best achieved through the transfer of the undertaking to Bright Red Charity. The assets of the unincorporated charity were transferred to the charitable company on 21 January 2019. The unincorporated charity was not dissolved and will remain on the Charity Commission register in order to receive donations which will be passed to the charitable company for furtherance of the objects. Bright Red Charity acts as a corporate trustee of the unincorporated charity and was appointed on 30 January 2019.

Income for 2021 was largely from grants and donations and the donations transferred from the unincorporated charity, as disclosed in note 4 to the accounts.

Existing grant commitments continued to be paid during the year. One new research grant was agreed to be funded.

During this financial year the charity invested:

Financial review

Donations from individuals, businesses and groups taking part in various fundraising events and regular donors totalled £77,946 (2020: £90,734) in the year. Donations from the unincorporated charity totalled £19,834 (2020: £30,000), as shown in note 4 to the accounts. Grants totalling £2,375 (2020: £27,695), together with legacies of £22,224 were also received in the year.

- 4 -

BRIGHT RED CHARITY

REPORT OF THE TRUSTEES

31 DECEMBER 2021

Financial review (continued)

The statement of financial activities on page 8 shows a net deficit of £20,876 (2020: £14,613) on unrestricted funds and a net deficit of £2,878 (2020: net surplus of £9,351) on restricted funds after total expenditure of £154,714 (2020: £167,137) and net gains on investments of £2,534 (2020: £13,316).

Investment performance and policy

Given the relatively short term commitments and specific needs, the charity retains the bulk of its funds in liquid form with the bankers. In addition, £224,445 (2020: £216,487) is invested in a low risk portfolio under the care of Seven Investment Management (7IM).

Half yearly reports from 7IM are received, which show valuations, performance and any changes to holdings in the period.

Reserves policy

Funds are held to cover the cost of long-term projects, with the aim to maintain a level of reserves of a minimum of 1.5 times commitments. The charity makes no commitment in respect of expenditure for which funds are not already available. At the 2021 year end, the charity held unrestricted funds of £302,857 against commitments of £99,709.

Plans for future periods

In terms of future funding, significant grants remaining include £58,871 to be paid out for patient care, including four Bright Red Charity Nurses and £40,839 committed to various research projects. The unincorporated charity will continue to operate to pass donations on to Bright Red Charity continuing the activities already established.

Statement of trustees’ responsibilities

The trustees are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees of the charity to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

- 5 -

BRIGHT RED CHARITY

REPORT OF THE TRUSTEES

31 DECEMBER 2021

Statement of trustees’ responsibilities (continued)

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charity Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Small company provisions

This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

Approved by the trustees and signed by:

Mr M Thompson Chairman 26 October 2022

- 6 -

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF BRIGHT RED CHARITY

I report to the charity Trustees on my examination of the financial statements of the company for the year ended 31 December 2021, which are set out on pages 8 to 16.

Responsibilities and basis of report

As the charity’s Trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the financial statements of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s financial statements as carried out under section 145 of the Charities Act 2011 (the ‘2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s report

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

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 financial statements to be reached.

D R GOLD FCA Independent Examiner Joseph Miller Milburn House Dean Street Newcastle upon Tyne NE1 1LE 26 October 2022

- 7 -

BRIGHT RED CHARITY

STATEMENT OF FINANCIAL ACTIVITIES

(INCLUDING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 DECEMBER 2021

Note
Income from:
Donations, grants and legacies
4
Investments
5
Total income
Expenditure on:
Raising funds
7
Charitable activities
Grants payable
6
Charitable activities
7
Total expenditure
Net expenditure before gains
on investments
Net gains (losses) on investments
Unrealised gains on revaluation of investments
Realised gains (losses) on disposal of investments
Net expenditure and net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Restricted
Total
Total
Funds
Funds
2021
2020
£
£
£
£
118,652
3,727
122,379
148,429
6,047
-
6,047
130
124,699
3,727
128,426
148,559
25,664
-
25,664
34,987
89,421
-
89,421
96,116
33,024
6,605
39,629
36,034
148,109
6,605
154,714
167,137
(23,410)
(2,878)
(26,288)
(18,578)
2,523
-
2,523
17,273
11
-
11
(3,957)
2,534
-
2,534
13,316
(20,876)
(2,878)
(23,754)
(5,262)
323,733
45,144
368,877
374,139
302,857
42,266
345,123
368,877

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.

The notes on pages 10 to 17 form part of these financial statements.

BRIGHT RED CHARITY

BALANCE SHEET

Company number: 11386486

AS AT 31 DECEMBER 2021

Note
Fixed assets
Tangible fixed assets
8
Investments
9
Current assets
Debtors
10
Cash at bank and in hand
Creditors:
amounts falling due within one year
11
Net current assets
Total assets less current liabilities
The funds of the charity:
Unrestricted income funds
12
Restricted income funds
13
Total charity funds
14		 2021
£
£
1,621
224,445
226,066
20,724
186,788
207,512
(88,455)
119,057
345,123
302,857
42,266
345,123		 2020
£
£
-
216,487
216,487
2,079
224,546
226,625
(74,235)
152,390
368,877
323,733
45,144
368,877

.

For the year ended 31 December 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Trustees responsibilities:

(ii) The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the trustees and authorised for issue on 26 October 2022.

Mr M Thompson Chairman

The notes on pages 10 to 17 form part of these financial statements.

BRIGHT RED CHARITY

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2021

Cash flows from operating activities:
Net cash (used in) provided by operating activities
a)
Cash flows from investing activities:
Dividends from investments
Sale proceeds from investments
Purchase of investments
Purchase of equipment
Net cash (used in) provided by operating activities
(Decrease) increase in cash
Cash at 1 January 2021
Cash at 31 December 2021
b)
a)
Reconciliation of net expenditure to net cash flow
from operating activity
Net expenditure for the reporting period
Depreciation
Gains on investments
Dividends from investments
Profit on sale of investments
(Increase) decrease in debtors
Increase in creditors
Net cash (used in) provided by operating activities
b) Represented by:
Cash at bank
Cash available for reinvestment by investment advisers		 2021
2020
£
£
(36,557)
12,902
6,030
-
662
634
(6,030)
-
(1,807)
(1,145)
634
(37,702)
13,536
224,546
211,010
186,844
224,546
2021
2020
£
£
(23,754)
(5,262)
186
-
(2,523)
(13,316)
(6,030)
(11)
(18,645)
9,219
14,220
22,261
(36,557)
12,902
186,788
224,546
56
-
186,844
224,546

BRIGHT RED CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1. Legal status of the charity

The charity is a company limited by guarantee, registered in England and Wales. The address of the registered office is Ward 33, Freeman Hospital, Newcastle upon Tyne, NE7 7DN.

The members of the charity are the trustees shown on page 1. In the event of the charity being wound up, the liability of the members in respect of the guarantee is limited to £10 per member.

2. Accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a) Basis of preparation

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

The charity constitutes a public benefit entity as designed by FRS 102.

The financial statements are prepared in sterling which is the functional and presentation currency of the charity.

b) Preparation of the accounts on a going concern basis

The charity has reviewed its cash flow forecasts and there is a reasonable expectation that it has adequate resources to continue in operational existence for at least the next twelve months and on this basis the trustees consider the charity to be a going concern.

c) Fund structure

Unrestricted funds

General funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and have not been designated for other purposes.

Restricted funds

Grants and donations obtained for specific purposes are recognised in the financial statements as restricted funds, together with attributable investment income. The aim and use of each restricted fund is set out in the notes to the financial statements.

d) Income recognition

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

The following specific policies are applied to particular categories of income:

Donation and legacy income is received by way of grants and donations and is included in full in the statement of financial activities when receivable. Such income is only deferred when the donor specifies that the grant or donation must only be used in future accounting periods, or the donor has imposed conditions which must be met before the charity has unconditional entitlement.

Legacies are included in the statement of financial activities when receipt is probable, that is, when there has grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met.

Investment income such as dividends and interest are included when receivable.

Gifts in kind donated for distribution are included at fair value where material and recognised when they are distributed.

BRIGHT RED CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

2. Accounting policies (continued)

e) Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category, inclusive of any VAT which can not be recovered. All expenditure is recognised once there is a legal or constructive obligation committing the charity to the expenditure.

Grants are only made to related or third party charities in furtherance of the charitable objects of the funds. A liability for such grants is recognised when approval has been given by the trustees.

The expenditure on raising funds are those costs attributable to generating incoming resources for the charity, other than those costs incurred in undertaking charitable activities, and represent investment management fees or occasional fund-raising events.

Costs of charitable activities comprise all costs incurred in pursuit of the charitable objects of the charity, as shown in notes 6 and 7.

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. Support costs are allocated on the basis of staff time spent on each activity and are shown in note 7 to the financial statements.

f) Fixed assets and depreciation

Tangible fixed assets are included in the financial statements at their historical cost.

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost less estimated residual value of the assets over their expected useful lives. The rate used is as follows: Computer equipment - 25% per annum straight line

g) Fixed asset investments

Investments are a form of financial instrument and are initially recognised at cost and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Gains or losses arising on revaluation or disposal are recognised in the statement of financial activities in the funds in which the investments are held.

3. Net expenditure

3.
Net expenditure
Net expenditure for the year is stated after charging:
Independent examination and accountancy services:
Independent examination
Accountancy, bookkeeping and payroll services
Depreciation of tangible fixed assets
4.
Donations, grants and legacies
The Neighbourly Together Fund
West Bedlington Community Chest
Cramlington Town Council - Community Chest
Community Lottery - COVID-19 response
Community Foundation - COVID-19 delivery
Local Council COVID grant
Northumberland County Council - Community Chest Scheme
Community Foundation - Newcastle Building Society
Tesco Bags of Help COVID-19 Communities Fund
Donations and in kind support
Donations from unincorporated charity, Bright Red
Legacies		 Unrestricted
Restricted
£
£
-
1,000
-
875
-
500
-
-
-
-
-
-
-
-
-
-
-
-
76,594
1,352
19,834
-
22,224
-
118,652
3,727		 2021
2020
£
£
700
670
2,767
5,034
186
-
2021
2020
£
£
1,000
-
875
-
500
500
-
9,500
-
4,500
-
5,000
-
3,695
-
3,000
-
1,500
77,946
90,734
19,834
30,000
22,224
-
122,379
148,429

BRIGHT RED CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

5.
Investment income
Unrestricted
Restricted
£
£
Dividends
6,030
-
Bank interest
17
-
6,047
-
6.
Grants payable
Unrestricted
Restricted
£
£
Research grants
-
-
Patient care grants
89,371
-
Educational grants
50
-
89,421
-
7.
Expenditure
Fundraising
Charitable
Governance
costs
activities
costs
£
£
£
Direct costs
Event related costs
3,665
-
-
Project costs
-
5,386
-
Accountancy and independent examiner's fees
-
-
3,180
Insurance
-
580
-
Legal and professional
-
-
1,078
Investment management costs
605
-
-
Allocated support costs
Salary, administration and fundraising support
17,207
22,000
1,650
Office and administrative expenses
4,187
5,354
401
25,664
33,320
6,309
Governance costs
6,309
Total expenditure on charitable activities
39,629
Staff costs and numbers:
Wages and salaries
Social security costs
Pension costs
The average number of employees during the year, analysed by function was as follows:
Management		 2021
2020
£
£
6,030
-
17
130
6,047
130
2021
2020
£
£
-
1,603
89,371
94,513
50
-
89,421
96,116
Total
Total
2021
2020
£
£
3,665
3,793
5,386
7,465
3,180
2,988
580
1,148
1,078
7,742
605
633
40,857
36,866
9,942
10,386
65,293
71,021
2021
2020
£
£
7,701
6,866
-
-
143
-
7,844
6,866
2021
2020
1
1

There are no employees with emoluments above £60,000 per annum.

BRIGHT RED CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

8.
Tangible fixed assets
Cost
At 1 January 2021
Additions
At 31 December 2021
Depreciation
At 1 January 2021
Provided this year
At 31 December 2021
Net book value
At 31 December 2021
At 31 December 2020
9
Fixed asset investments
Summary
Quoted investments
Cash available for reinvestment by investment advisers
Quoted investments:
Market value at 1 January 2021
Additions at cost
Disposals at carrying value
Unrealised gains on revaluation
Market value at 31 December 2021
Historical cost at 31 December 2021		 Total
Computer
equipment
2021
£
-
1,807
1,807
-
186
186
1,621
-
2021
2020
£
£
224,389
216,487
56
-
224,445
216,487
2021
2020
£
£
216,487
203,775
6,030
-
(651)
(4,561)
2,523
17,273
224,389
216,487
204,642
199,215

BRIGHT RED CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

10 Debtors
Other debtors
11 Creditors:amounts falling due within one year
Accruals and other creditors
Grants payable
Other taxes and social security
12 Unrestricted funds
Balance at
01.01.21
£
General Fund
323,733
13 Restricted funds
Michael Airey Research Fund
Community Foundation - COVID-19 delivery
Northumberland County Council - Community Chest Scheme
Patient care - ward 33
The Neighbourly Together Fund
West Bedlington Community Chest
Cramlington Town Council - Community Chest		 2021
2020
£
£
20,724
2,079
2021
2020
£
£
7,784
10,052
79,767
64,183
904
-
88,455
74,235
Income
Expenditure
Investment
Balance at
gains and
31.12.21
(losses)
£
£
£
£
124,699
(148,109)
2,534
302,857
Balance at
Income
Expenditure Balance at
01.01.21
31.12.21
£
£
£
£
36,321
1,352
-
37,673
4,455
-
(4,455)
-
3,368
-
(1,747)
1,621
1,000
-
-
1,000
-
1,000
(323)
677
-
875
-
875
-
500
(80)
420
45,144
3,727
(6,605)
42,266

Restricted funds

Michael Airey Research Fund Donations made in memory of Michael Airey are restricted to fund research. Community Foundation - COVID-19 delivery The grant received in 2020 for a new online hub, telephone support services, emergency and care packages and tablet devices was expended during the year.

Northumberland County Council - Community Chest Scheme The grant was awarded in 2020 towards IT equipment and office / storage furniture for the new Bedlington offices was expended during the year. The balance carried forward represents the net book value of assets acquired.

Patient care - ward 33 In 2020, a donation was given towards patient care on ward 33.

The Neighbourly Together Fund Grant received to promote community belonging and togetherness.

West Bedlington Town Council Grant received towards assistance with community activities.

Cramlington Town Council - Community Chest The grant was awarded towards a community workshop.

BRIGHT RED CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

14 Analysis of net assets between funds - current year

Unrestricted funds
General Fund
Restricted funds
Michael Airey Research Fund
Community Foundation - COVID-19 delivery
Northumberland County Council - Community Chest
Patient care - ward 33
West Bedlington Community Chest
The Neighbourly Together Fund
Cramlington Town Council - Community Chest
Analysis of net assets between funds - previous year
Unrestricted funds
General Fund
Restricted funds
Michael Airey Research Fund
Community Foundation - COVID-19 delivery
Northumberland County Council - Community Chest
Patient care - ward 33		 Tangible
Fixed
Net
Total
Total
fixed
asset
current
2021
2020
assets
investments
assets
£
£
£
£
£
-
224,445
78,412
302,857
323,733
-
-
37,673
37,673
36,321
-
-
-
-
4,455
1,621
-
-
1,621
3,368
-
-
1,000
1,000
1,000
-
-
875
875
-
-
-
677
677
-
-
-
420
420
-
1,621
224,445
119,057
345,123
368,877
Tangible
Fixed
Net
Total
Total
fixed
asset
current
2020
2019
assets
investments
assets
£
£
£
£
£
-
216,487
107,246
323,733
338,346
-
-
36,321
36,321
35,793
-
-
4,455
4,455
-
-
-
3,368
3,368
-
-
-
1,000
1,000
-
-
216,487
152,390
368,877
374,139

15 Operating leases

As lessee

The total future minimum lease payments under non-cancellable operating leases are as follows:

Not later than 1 year
16 Commitments
Commitments payable in under 1 year
Commitments payable in over 1 year
Amount of commitments as at 31 December 2021		 Total
Total
2021
2020
£
£
200
200
Total
Total
2021
2020
£
£
72,123
115,299
27,586
81,906
99,709
197,205

These grant commitments are not provided as liabilities in the financial statements. The amounts represent future amounts of research grants offered at the balance sheet date, which are subject to ongoing reviews and are payable out of future income, or are for research projects which have been agreed to commence after the balance sheet date.

BRIGHT RED CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

17. Related party transactions

No trustees, or any person related or connected by business to them, received any remuneration or expenses from the charity during the year.

18. Resources received and paid as agent for third parties

North East Haematology Nurses Group (NEHNG) Opening
Received
Released
Closing
funds
in the year
in the year
funds
£
£
£
£
3,811
-
(60)
3,751

The charity acts as agent to the NEHNG and the funds are not recognised as an asset in its accounts as the funds are not within its control.