## **BRIGHT RED CHARITY**
(A charitable company limited by guarantee)
## **REPORT AND UNAUDITED FINANCIAL STATEMENTS**
## **31 DECEMBER 2022**
Registered company number 11386486 Registered charity number 1178566
**Armstrong Watson Chartered Accountants Newcastle upon Tyne**
## **BRIGHT RED CHARITY**
## **FINANCIAL STATEMENTS**
## **PERIOD ENDED 31 DECEMBER 2022**
|**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||
||Mr P Towns|(resigned 13 September 2022)|
||Mr I Pedley|(resigned 26 October 2022)|
||Dr V Hervey||
||Mr D Tompkins||
||Mr P Smith|(resigned 24 May 2022)|
||Miss C Dickinson||
||Mrs K McRae||
||Ms B Sheldon|(appointed 12 September 2023)|
|**Admin and fundraising support**|Ms L Saxton||
||Mrs A Angus||
|**Scientific/medical panel selectors**|Professor M Collin|(Co-ordinator)|
||Dr G Jones||
|**Charity number**|1178566||
|**Company number**|11386486||
|**Working name**|Bright Red Charity||
|**Registered office**|Ward 33 Freeman Hospital||
||Newcastle upon Tyne||
||NE7 7DN||
|**Independent examiner**|D R Gold||
||Armstrong Watson Audit Limited||
||First Floor||
||One Strawberry Lane||
||Newcastle upon Tyne||
||NE1 4BX||
|
**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 2022**
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 2022, 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 2022**
## 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 2022 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 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:
- to advance medical science and practice by undertaking research into the causes, occurrences and treatments of blood cancer and by the education and training of healthcare professionals; and
- the relief of sickness among blood cancer patients, primarily but not exclusively in the North of England, by the provision of facilities and services for patients and their families and carers
**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 2022**
## 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 2022 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. Two new research grants were agreed to be funded.
During this financial year the charity invested:
- £44,271 into improving patient care.
- £27,502 in research grants.
- £4,475 in Lee Robson Patient Care Grants.
## **Financial review**
Donations from individuals, businesses and groups taking part in various fundraising events and regular donors totalled £170,214 (2021: £77,946) in the year. Donations from the unincorporated charity totalled £19,000 (2021: £19,834), as shown in note 4 to the accounts. Grants totalling £12,350 (2021: £2,375), together with legacies of £Nil (2021: £22,224) were also received in the year.
**- 4 -**
**BRIGHT RED CHARITY**
## **REPORT OF THE TRUSTEES**
## **31 DECEMBER 2022**
## **Financial review** _(continued)_
The statement of financial activities on page 8 shows a net deficit of £4,022 (2021: £20,876) on unrestricted funds and net income of £6,024 (2021: net deficit of £2,878) on restricted funds after total expenditure of £180,424 (2021: £154,714) and net losses on investments of £26,940 (2021: gains of £2,534).
## 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, £204,280 (2021: £224,445) 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 2022 year end, the charity held unrestricted funds of £298,835 against commitments of £110,629.
## **Plans for future periods**
In terms of future funding, significant grants remaining include £66,544 to be paid out for patient care, including three Haematology Nurses and £44,085 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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
**- 5 -**
**BRIGHT RED CHARITY**
## **REPORT OF THE TRUSTEES**
## **31 DECEMBER 2022**
## **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 30 October 2023
**- 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 2022, which are set out on pages 8 to 17.
## **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:
- (1) accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
- (2) the financial statements do not accord with those accounting records; or
- (3) the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the financial statements give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or
- (4) the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended practice for accounting and reporting by charities (applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic or Ireland (FRS 102).
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 Armstrong Watson Audit Limited First Floor One Strawberry Lane Newcastle upon Tyne NE1 4BX 30 October 2023
**- 7 -**
## **BRIGHT RED CHARITY**
## **STATEMENT OF FINANCIAL ACTIVITIES**
(INCLUDING INCOME AND EXPENDITURE ACCOUNT)
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
|**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 income (expenditure) before (losses) gains_**
**_on investments_**
**_Net (losses) gains on investments_**
Unrealised (losses) gains on revaluation of investments
Realised (losses) gains on disposal of investments
**_Net income (expenditure) and net movement in funds_**
**Reconciliation of funds**
Total funds brought forward
**_Total funds carried forward_**|**Unrestricted**
**Restricted**
**Total**
**Total**
**Funds**
**Funds**
**2022**
**2021**
**£**
**£**
**£**
**£**
182,354
19,210
201,564
122,379
7,802
-
7,802
6,047
190,156
19,210
209,366
128,426
48,531
-
48,531
25,664
76,424
-
76,424
89,421
42,283
13,186
55,469
39,629
167,238
13,186
180,424
154,714
22,918
6,024
28,942
(26,288)
(26,891)
-
(26,891)
2,523
(49)
-
(49)
11
(26,940)
-
(26,940)
2,534
(4,022)
6,024
2,002
(23,754)
302,857
42,266
345,123
368,877
298,835
48,290
347,125
345,123|
|---|---|
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.
- 8 -
## **BRIGHT RED CHARITY**
## **BALANCE SHEET**
Company number: 11386486
## **AS AT 31 DECEMBER 2022**
|**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|**2022**
**£**
**£**
1,216
204,280
205,496
6,666
213,247
219,913
(78,284)
141,629
347,125
298,835
48,290
347,125|**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
.|
|---|---|---|
For the year ended 31 December 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Trustees responsibilities:
- (i) The members have not required the charity to obtain an audit of its financial statements for the year in question in accordance with section 476; and
(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 30 October 2023.
Mr M Thompson Chairman
The notes on pages 10 to 17 form part of these financial statements.
- 9 -
## **BRIGHT RED CHARITY**
## **STATEMENT OF CASH FLOWS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
|**Cash flows from operating activities:**
_Net cash provided by (used in) operating activities_
**a)**
**Cash flows from investing activities:**
Dividends from investments
Sale proceeds from investments
Purchase of investments
Purchase of equipment
_Net cash provided by (used in) operating activities_
**Increase (decrease) in cash**
Cash at 1 January 2022
**Cash at 31 December 2022**
**b)**
**a)**
**Reconciliation of net income (expenditure) to net cash flow**
**from operating activity**
Net income (expenditure) for the reporting period
Depreciation
Losses (gains) on investments
Dividends from investments
Losses (gains) on sale of investments
Decrease (increase) in debtors
(Decrease) increase in creditors
**Net cash provided by (used in) operating activities**
**b) Represented by:**
Cash at bank
Cash available for reinvestment by investment advisers|**2022**
**2021**
**£**
**£**
25,772
(36,557)
7,462
6,030
630
662
(7,461)
(6,030)
-
(1,807)
631
(1,145)
26,403
(37,702)
186,844
224,546
213,247
186,844
**2022**
**2021**
**£**
**£**
2,002
(23,754)
405
186
26,891
(2,523)
(7,462)
(6,030)
49
(11)
14,058
(18,645)
(10,171)
14,220
25,772
(36,557)
213,247
186,788
-
56
213,247
186,844|
|---|---|
- 10 -
## **BRIGHT RED CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **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.
- 11 -
**BRIGHT RED CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **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 income (expenditure)**
|**Net income (expenditure)**
Net income (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
**Donations, grants and legacies**
The Neighbourly Together Fund
West Bedlington Community Chest
Cramlington Town Council - Community Chest
Blyth Town Council
West Bedlington Town Council
Arnold Clark
Community Foundation
Donations and in kind support
Donations from unincorporated charity, Bright Red
Legacies|**Unrestricted**
**Restricted**
**£**
**£**
-
-
-
-
-
-
-
10,000
-
850
1,000
-
500
-
161,854
8,360
19,000
-
-
-
182,354
19,210|**2022**
**2021**
**£**
**£**
770
700
3,195
2,767
405
186
**2022**
**2021**
**£**
**£**
-
1,000
-
875
-
500
10,000
-
850
-
1,000
-
500
-
170,214
77,946
19,000
19,834
-
22,224
201,564
122,379|
|---|---|---|
## **4. Donations, grants and legacies**
- 12 -
## **BRIGHT RED CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
|**5.**
**Investment income**
**Unrestricted**
**Restricted**
**£**
**£**
Dividends
7,462
-
Bank interest
340
-
7,802
-
**6.**
**Grants payable**
**Unrestricted**
**Restricted**
**£**
**£**
Research grants
27,502
-
Patient care grants
48,746
-
Educational grants
176
-
76,424
-
**7.**
**Expenditure**
**Fundraising**
**Charitable**
**Governance**
**costs**
**activities**
**costs**
**£**
**£**
**£**
**Direct costs**
Event related costs
18,170
-
-
Project costs
-
7,121
-
Accountancy and independent examiner's fees
-
-
3,498
Insurance
-
951
-
Legal and professional
-
-
200
Investment management costs
687
-
-
**Allocated support costs**
Salary, administration and fundraising support
23,141
32,311
1,650
Office and administrative expenses
6,533
9,265
473
48,531
49,648
5,821
Governance costs
5,821
**Total expenditure on charitable activities**
55,469
**Staff costs and numbers:**
Wages and salaries
Pension costs
The average number of employees during the year, analysed by function was as follows:
Management|**2022**
**2021**
**£**
**£**
7,462
6,030
340
17
7,802
6,047
**2022**
**2021**
**£**
**£**
27,502
-
48,746
89,371
176
50
76,424
89,421
**Total**
**Total**
**2022**
**2021**
**£**
**£**
18,170
3,665
7,121
5,386
3,498
3,180
951
580
200
1,078
687
605
57,102
40,857
16,271
9,942
104,000
65,293
**2022**
**2021**
**£**
**£**
23,314
7,701
430
143
23,744
7,844
**2022**
**2021**
1
1|
|---|---|
There are no employees with emoluments above £60,000 per annum.
- 13 -
## **BRIGHT RED CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
**8. Tangible fixed assets**
|**8.**
**Tangible fixed assets**
**Cost**
At 1 January 2022
Additions
**At 31 December 2022**
**Depreciation**
At 1 January 2022
Provided this year
**At 31 December 2022**
**Net book value**
**At 31 December 2022**
At 31 December 2021
**9**
**Fixed asset investments**
**Summary**
Quoted investments
Cash available for reinvestment by investment advisers
**Quoted investments:**
Market value at 1 January 2022
Additions at cost
Disposals at carrying value
Unrealised (losses) gains on revaluation
Market value at 31 December 2022
Historical cost at 31 December 2022|**Total**
**Computer**
**equipment**
**2022**
**£**
1,807
-
1,807
186
405
591
1,216
1,621
**2022**
**2021**
**£**
**£**
204,280
224,389
-
56
204,280
224,445
**2022**
**2021**
**£**
**£**
224,389
216,487
7,461
6,030
(679)
(651)
(26,891)
2,523
204,280
224,389
211,475
204,642|
|---|---|
- 14 -
## **BRIGHT RED CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
|**10 **|**Debtors**||**2022**|**2021**|
|---|---|---|---|---|
||||**£**|**£**|
||Other debtors||6,071|20,724|
||Amount due from Bright Red Trust||595|-|
||||6,666|20,724|
|**11 **|**Creditors:**amounts falling due within one year
Accruals and other creditors
Grants payable
Other taxes and social security||**2022**
**£**
8,715
69,365
205|**2021**
**£**
7,784
79,767
904|
||||78,284|88,455|
|**12 **|**Unrestricted funds**
General Fund|**Balance**
**Income**
**Expenditure**
**b/f**
**£**
**£**
**£**
302,857
190,156
(167,238)|**Investment**
**(losses)**
**£**
(26,940)|**Balance**
**c/f**
**£**
298,835|
|**13 **|**Restricted funds**
Michael Airey Research Fund
Northumberland County Council - Community Chest Sch
Patient care - ward 33
The Neighbourly Together Fund
West Bedlington Community Chest
Cramlington Town Council - Community Chest
Blyth Town Council
West Bedlington Town Council|**Balance at**
**Income**
**Expenditure**
**b/f**
**£**
**£**
**£**
37,673
360
-
1,621
-
(405)
1,000
8,000
(6,038)
677
-
(629)
875
-
(455)
420
-
(379)
-
10,000
(5,000)
-
850
(280)|**Investment**
**(losses)**
**£**
-
-
-
-
-
-
-
-|**Balance at**
**c/f**
**£**
38,033
1,216
2,962
48
420
41
5,000
570|
|||42,266
19,210
(13,186)|-|48,290|
## **Restricted funds**
_Michael Airey Research Fund -_ Donations made in memory of Michael Airey are restricted to fund research. _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 in previous years. The balance carried forward represents the net book value of assets acquired.
_Patient care - ward 33_ Donations are 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.
_Blyth Town Council -_ The grant was awarded to support children of patients suffering from blood cancer in collaboration with CIC Holding Hearts who use play therapy to help engage and support the children.
_West Bedlington Town Council -_ The grant was awarded to fund certain core costs of the charity.
- 15. -
## **BRIGHT RED CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **14 Analysis of net assets between funds - current year**
**----- Start of picture text -----**
|||||||
|---|---|---|---|---|---|
|Tangible|Fixed|Net|Total|Total|
|fixed|asset|current|2022|2021|
|assets|investments|assets|
|£|£|£|£|£|
|Unrestricted funds|
|General Fund|-|204,280|94,555|298,835|302,857|
|Restricted funds|
|-|-|
|Michael Airey Research Fund|38,033|38,033|37,673|
|-|-|
|Northumberland County Council - Community Chest|1,216|1,216|1,621|
|Patient care - ward 33|-|-|2,962|2,962|1,000|
|West Bedlington Community Chest|-|-|420|420|875|
|The Neighbourly Together Fund|-|-|48|48|677|
|Cramlington Town Council - Community Chest|-|-|41|41|420|
|-|-|-|
|Blyth Town Council|5,000|5,000|
|West Bedlington Town Council|-|-|570|570|-|
|1,216|204,280|141,629|347,125|345,123|
**----- End of picture text -----**
## _**Analysis of net assets between funds - previous year**_
**----- Start of picture text -----**
|||||||
|---|---|---|---|---|---|
|Tangible|Fixed|Net|Total|Total|
|fixed|asset|current|2021|2020|
|assets|investments|assets|
|£|£|£|£|£|
|Unrestricted funds|
|General Fund|-|224,445|78,412|302,857|323,733|
|Restricted funds|
|-|-|
|Michael Airey Research Fund|37,673|37,673|36,321|
|-|-|-|-|
|Community Foundation - COVID-19 delivery|4,455|
|-|-|
|Northumberland County Council - Community Chest|1,621|1,621|3,368|
|Patient care - ward 33|-|-|1,000|1,000|1,000|
|West Bedlington Community Chest|-|-|875|875|-|
|The Neighbourly Together Fund|-|-|677|677|-|
|Cramlington Town Council - Community Chest|-|-|420|420|-|
|1,621|224,445|119,057|345,123|368,877|
**----- End of picture text -----**
## **15 Operating leases**
## **As lessee**
The total future minimum lease payments under non-cancellable operating leases are as follows:
Not later than 1 year
**----- Start of picture text -----**
|||
|---|---|
|Total|Total|
|2022|2021|
|£|£|
|200|200|
**----- End of picture text -----**
- 16 -
## **BRIGHT RED CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
|**16 Commitments**
Commitments payable in under 1 year
Commitments payable in over 1 year
Amount of commitments as at 31 December 2022|**Total**
**Total**
**2022**
**2021**
**£**
**£**
98,940
72,123
11,689
27,586
110,629
99,709|
|---|---|
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.
## **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**
**£**
**£**
**£**
**£**
3,751
540
(60)
4,231|
|---|---|
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.
- 17 -