REGISTERED COMPANY NUMBER: 11796126 IEngland and Wales} REGISTERED CHARITY NUMBER: 1183052 Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2024 The Oli Hilsdon Foundation Tearte & Carver knmiied Chandos House School Lane Buckingh Buckinghamshire KIK18 1HD
The Oli Hilsdon Foundation Contents of the Financial Statèments for the Year Ended 31 March 2024 Page Report of the Trustees Independent Examinerfs Report Statemenl of Flnanclal Adlvltles Balance Sheet Cash Flow Statemant Notes to the Financial Slalements 8 to 13
The Oli Hilsdon Foundation (Registered number- 11796126) Report of the Trustees for the Year Ended 31 March 2024 Trustees Report The Trustees of the Oli Hilsdon Foundation Ithe OHF) present their annual report {Ihe Report) and independently reviewed accounis (the Accounts) for the year ended 31 March 2024 and confirm they comply with the requirements of th8 Chariti8s Act 2011 and FRS 102. The R8PCrt is also intended to serv8 as th8 OHPS dir8Ctors' report for th8 pufpDS8S of the Companies Act 2006 for the period fvotn 01 April 2023 to 31 March 2024 Ithe Reporting Pericyjl. Objectives and activities The OHF fU[S brain turrK)ur research in loving memory of Oli Hilsdon. lost his batt with Gli(*)lasloma Mulliforme - a malignant grade IV brain tumour- in January 2019. just 10 days Lfore his 27th birthday. The objects of the OHF according lo its Articles of Ass(Kxation are the relief of sickness and suffering and the protection of good heatth of people with brairb lumours, in particJlar but without limitation through supporting research into the causes. effects and consequences of Ixain tumours linthding sumval extension and curalive tfftalmenlsl. It raises funds through a variety of events and activrts.es in order lo furfher these aims and therefore act in the public benefit. In preparing this Report, the Trustees have had regard to the Charities Act 2011 and FRS102 and have taken the commission's public benefft guidance into account when maknng any decision it is relevant io. Achi•v•m•nts and P•rforrnan¢• The main acts"vilies arKJ achievements of the OHF during the Reporting Period comprised.. 1. the continued support and independent funding lover a period of five years) of a research project leé by Professor Simona Parrinello of Universty College, London entitled -mapping the spatio-iemporal heterogeneity ol glioblasloma invasion" The Trustees view the researth project at Ucl as aligned wlh the OHFS objectives. The decision lo enter into the Granl Agreement with ifve 8rain TutrKMJr Charity on 3 December 2019 wa5 approved unanimou51y by the Trustees., 2. the paytnenl of the remaining balan of £591,440 to fund Ihe UCL propct auoss 11 April 2023 and 05 May 2023,. 3. having fully funded ils original research projecL the OHF is in the process of selecting a new project to fvnd. As with ils first project, the OHF will select a project that has been vetted by TBTC'S medical advisory 8rd.. 4. after the period end, the OHF made iwo donations to a glioblastoma treatment research project that is primarily funded by a partnership belween TBTC and Cancer Researctr UK. The OHF donated £14.514 in May 2024 ané ££17,158 in October 2024. This does not change the trLJStees' ambib.jn to find another larger. mulli-year project lo fund. and 5. the Tru51ees 8re a)nsidenng transitioning the organisation's legal slruclure. The OHF will cease to be a regislered charity, and will become 'Projecl Fund, of The Brnin Tumour Charity. TOHF wil taIn some autonomy. including the ability to select specific projects that it wishes to fund. Fk)wever. the administrative burden and cost (albeit relatively low} associated wth operating a registered charity. This is likely lo lake place in FY25. or early FY26. Financial Review Fundraising activity decreased in the year, as the charity did not hold 8 Corporate sponsored fundr8i8ing event. The charity did however gei)erate a healthy income, with many donations coming both from repeat and first-tiriie dlOrS. The Iruslèes continue lo keep overhead costs lo a minimum. to maximise Ihe 'effici8ncy' of funds transferred to research proj8Cts. Reserves Policy The OHF had a heallhy cash balan at year end. Be13use the foundation has successfully funded the projecl al UCL earlier than originally anticipated, the Trustees are reasses&ng the foundation's Reserves Policy. alDng with the foundation's ongoing fundraising aims more generally and ssile future projects to support. Golng Concern Page 1
The Oli Hilsdon Foundation (Registered number- 11796126) Report of the Trustees for the Year Ended 31 March 2024 Given the strong postion of the charily's finances and the lacl that it is nol currently committed to actively funding a research project, the Trustees consider there to be no risk that the charily is not a going concern. The OHF is incorporated as a company limited by guarantee under the laws of England & Wales (Company No. 11796126) registered with the Charities Commission under charity number 1183052. Structure, Governance and Management The OHF is controlled by ils Articles of Associalion and constiluies a lifftled company. limited by guarantee, as defined by the Companies Act 2006. Under the Articles. any person who is willing to act as a Ttustee aY be appointed by a decision of the Trustees taken in accordance with the Artides of Association. However. no new TrJstees were appointed by the OHF during the Reporting Period. During the Reporting PeriLKI. the Trustees reached all decisions lating to the OHF on a unanimous basis. The OHF did not employ any indiwduals during the Rewrting Period arml rK) committees, persons or bodies weie or ate entitled to appoint one or more Iruslees. Incorporation The charitable company was incorporated on 29 January 2019 and eomff*nced trading on the same dale. STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document The charity is contrdleé by its goveming d¢xument. a deed of trust. and constttules a limited company, limited by guaranlee. as defined by the Companies Act 21J)6. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 11796126 (England and Wales) Règistered Charity number 1183052 Registered office Billlesea Farm Bradenstoke Chippenham Wiltshire SN154EW Trustees J Boreham - Finance E Ne5bitt-Dufort- Mark@ting A Lee - Finance A R Mcwilliams- Finance M Perry - Finan G Perry-Hilsdon - Real Estate Independenl Examiner Tearle & Carver Limited Chandos House School Lane Buckingham Buckinghamshire MK18 1HD Approved by order of the iKJard of trustees on 20 Dernber 2024 and signed on its behalf by.. Page 2
The Oli Hilsdon Foundation (Registered number- 11796126) Report of the Trustees for the Year Ended 31 March 2024 A Le8 - Trusiee Page 3
Independent Examiner's Report to the Trustees of The Oli Hilsdon Foundation Independenl examir.$ report to the trustses of The Oli Hilsdon Foundation I'the Compan I report to the charity trustees on my examination ol the accounts of the CJmpany for the year ended 31 March 2024. Responsibilities and basis of report As the charity's trustees of the Company land also its directors for the purposes of company lawl you are resrx)nsible for the preparation of the aUnts in acrdanCe with the reqUireMts ofthe Companies Act 2006 llhe 2(K)6 Ad'l. Having satisfied myself that the accounts of the Company arè mt required to be audited Ljndèr Part 16 of the 2006 Act and are eligible for independent examinaliorb, I rewrt in respect of my examination of your charity's accounts as carried out under Section 145 of the Charilies Act 2011 1.the 2011 ACYI. In cffjing out my examination I have followed the Dire¢lions given by the Charity Commission under Section 145151 Ibl of the 2011 Ad_ Independenl examinerfs statement I have completed my examination. I confimi thal no matters have o)me lo my attention in connection with the examination giving me cause lo believe.. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act,. or the accounts do not accord with those records- or the accounts do not comply with the accounkn'r¥J requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true arKI fair view which is not a matter consKJered as part of an Independent examination; or the accounts have not been prepared in accordan with the methots and principles of Ihe Statement of Recommended Practs. for accounting and rewting by chartEs lapplicable lo charities preparing their accounts in accordance with the Financial RepcKting Stsndard applble in the UK and Republic of Ireland IFRS 102)). I have no conTrms and have come across no (rther matters in connection wth the examination lo which attènlion should be drawn in this report in order lo enab a prop*r understanding of the accounts to be reached. Tèarle & Carver Limited T9arle & CaNer Limited Chandos House School Lane Buckingham Buckinghamshire MK18 1HD 20 December 2024 Page 4
The Oli Hilsdon Foundation Statement of Financial Activities for the Year Ended 31 March 2024 2024 Unrestricted fund 2023 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 155,060 579,144 Other trading acbvities Totsl 155,060 580,244 EXPENDITURE ON Raising funds 4,254 69,160 Charitable activities Charitable Totsl 591,440 660,600 4,254 NET INCOMEIIEXPENDrruREI 150,806 180,3561 RECONCILIATION FUNDS Total funds brought forward 121.517) 58,839 TOTAL FUNDS CARRIED FORWARD 129289 21 5171 The notes on page O fomi part of Ihese finGla1 statements Page 5
The Oli Hilsdon Foundation (Registered number- 11796126) Balance Sheet 31 March 2024 2024 Unrestricted fund 2023 Total funds Notes CURRENT ASSETS Cash at bank 129,289 567,115 CREDITORS Amounts falling due within one year 1588,6321 NET CURRENT ASSETSIILIABIUTIESI 129,289 21,5171 TOTAL ASSETS LESS CURRENT LIABILITIES 129,289 121,5171 NET ASSETSIILIABILITIESI FUNDS Unreslricled lunds TOTAL FUNDS 129289 215171 129,289 129.289 21,5171 21 5171 The charitable company is entilled to exemption from audit under Section 477 of Ihe Companies Act 21J)6 for the year ended 31 March 2024. The members have not required the company lo obtain an audr( of rts financial stslements for the year ended 31 March 2024 in a(xordance v4ith Section 476 of the Companies Act 2(K)6. The Injslees acknowledge their responsibilities {al ensuring that the charitable company keeps accounting rewrds thal cornply with Section5 366 and 387 of the Companies Acl 2006 and prepJing financial slalemenls which give a ttue and faiT view of the state of affairs of the charitable company as at the end of each finanaal year and of its SLrplus or defictt for each financial year in accordance wilh the requirements of Secli(Ms 394 and 395 and which otherwse comply wth the requirements Df the Companies Act 2006 relating to financial stslements, so far as applicable lo the ch3ritsble Company. {bl Thesg financial statements have been prepared In accordance with the provisMS applicable to charitable companies subject lo the small companies regime. The financial statements were approved by the Board ol Trustees and authorised for issue on 2a December 2024 and were signed on its behalf by. A Lee - Trustee The notes on page O fomi part of Ihese finGla1 statements Page 6
The Oli Hilsdon Foundation Cash Flow Ststement for the Year Ended 31 March 2024 2024 2023 Notes Cash flows from operating xtivities Cash gen8ral&d from op8rations Nel cash (used inllprovided by operaling activit$ 437.826 437.826 111,406 111.406 Change in cash and cash ewivalents in the reporting period Cash and cash equivalents al the beginning of the reporting period Ca$h and cash equivalenls al the end of the reporting period {437.826} 111,406 567,115 455,709 129,289 567,115 The notes on page O fomi part of Ihese finGla1 statements Page 7
The Oli Hilsdon Foundation Notes lo the Financial Statements for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basls of preparlng the finan¢lal statements The financial statements of the charitable company. which is a Fub1 benefit enlily under FRS 102. have been preped in accordance thè Charits"es SORP IFRS 1021'ACC(ntlng and R8POrting by Chariti8s'. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Re?uNic of Ireland IFRS 1021 leffectwe 1 January 20191,. Financial Reporting Standard 102 'The Financial Reporting Standard applic2ble in the UK and Republic of Ireland, and the Cornpanies Act 2006. The finanaal statements have beer prepar1 under the historical cost convenb'on. Incorne All income is recognised in the Statement of Finanual Activits"es once the charity has enliuefftenl lo the funds. il is prob&le that the iricome will be received and the amount can be measured reliably. Expenditur• Liabiltties are reCLNiSed as expenditure as soon a5 there is a legal or consttuctive obligation cownmitting the charity to that expenditure. il is probable that a transfer oleconomic benefits will be required in settlement and the amount of the obligation can be measured reliabty. Expenditure is accounted for on an accruals basis and has been classified under headings that ag Jregale all cosl relaled to Ihe category. Where costs Cannot be directly attributed to particular headings they have been allocated to aclivtknes on a basis consistent wilh the use of resources. Gran15 offered subject to cOnd0S which have not been met at year end dale are noted as a commitment but not a¢cnJed as expendrfcure. Taxation The charily is exempt from (x)rpordlion tax on its charitable activities. Fund a¢¢ounting Unrestricted funds Can be used in accordance the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purtK)ses within the objects of the charity. Restrictions arise when specified by the dorrjr or when fijnds are raised for particular restricted purposes. Further explanakn'on of Ihe nature and purpose of each fund is induded in the noles lo the financial slalements. DONATIONS AND LEGACIES 2024 2023 Donations 155060 Page 8 continued...
The Oli Hilsdon Foundation Notes to the Financial Ststements- continued for the Year Ended 31 March 2024 OTHER TRADING ACTIVITIES 2024 2023 Dispasal of stock 1.100 RAISING FUNDS Raising donations and legacies 2024 2023 Sundries Purchases Cost of fundraising evwts Computer Subssripb'ons 3.132 13 112 395 66,451 1,052 50 1.059 50 Other tradlng actlvltles 2024 2023 Opening stock 1.100 Aggregale amounts 69,160 The CL)St of lundraising events expenses were paid for in lull by a ngle Cofwrate sponsor GRANTS PAYABLE 2024 2023 Charitable 591440 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees. remuneration or other benefits for the year ended 31 Marth 2024 nor for the year ended 31 March 2023. Trustees. enSeS There were no truslee5' expenses paid for the year ended 31 March 2024 nor the year ended 31 March 2023. Page 9 continued...
The Oli Hilsdon Foundation Notes to the Financial Ststements- continued for the Year Ended 31 March 2024 COMPARATNES FOR THE STATEMENT OF FINANCIAL ACTivmES Unrestricted fund INCOME AND ENDOWMENTS FROM Donal¥Jfjs and legacies 579,144 Other Irading a¢tiwb"es Total 580,244 EXPENDITURE ON Raising funds 69,160 Charitable activities Charitable Total 591,440 660,600 NET NCOMEIIEXPENDITURE) 180,3561 RECONCILIATION OF FUNDS Total funds brought forward 58,839 TOTAL FUNDS CARRIED FORWARD 21,5171 CREDITORS: AMouKfs FALLING DUE wrrH14 ONE YEAR 2024 2023 Trade creditors 588 632 MOVEMENT IN FUNDS Net movement in funds At 3113124 At 114123 Unrestrlcted funds Geneol fund 121.5171 I.806 129,289 TOTAL FUNDS 21.517 150.806 129289 Page 10 continued...
The Oli Hilsdon Foundation Notes to the Financial Ststements- continued for the Year Ended 31 March 2024 MOVEMENT IN FUNDS- continued Nel movement in funds. induded in the atrme a as follws: Incoming resources Resources expended Mov8m8nt in fund5 Unrestricted funds General fund 155.060 14,2541 150.806 TOTAL FUNDS 155.060 150806 Comparatives for movernent in funds Net movement in funds At 3113123 At 114122 Unrestrfct8d fund$ General fund 58.839 (80,356} 121,5171 TOTAL FUNDS 58.839 21.5171 Cornparative nel movement in funds. inclu(Jed in the above are as follws.. Incoming resou5 Resources expended Movement in funds Unrestricted funds General fund 580.244 1660.600} 180,3561 TOTAL FUNDS 580.244 660.600} 80 3561 A current year 12 months and or year 12 months combined position is as follows: N8t movement in funds At 3113124 At 114122 Unrestricted funds General fund 58.839 70,450 129,289 TOTAL FUNDS 58.839 70.450 129289 Page 11 continued...
The Oli Hilsdon Foundation Notes to the Financial Ststements- continued for the Year Ended 31 March 2024 MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined nel movewent in funds, included in the above are as follows= I¢MIng resources Resource5 expended Movement in funds Unrestricted fund$ Geneol fund 735.304 {664,854} 70.450 TOTAL FUNDS 735.304 70,450 10. RELATED PARTY DISCLOSURES Th8re were no relat8d paty transactions for the year ended 31 March 2024. 11. RECONCILIATION OF NET INCOMEI(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net incomellexpenditure} for the rewting period {as p•r th• Statement of Financial Activities) Adjustment5 for.. Decrease in stocks Decrease in deblors (Decreasellincrease in creditors Net cash {used Inllprovlded by operallons 150.806 180.3561 1,100 27,414 163,248 111406 588,6321 437,8261 12. ANALYSIS OF CHANGES IN NET FUNDS Al 114123 Cash flow Al 3113124 Net Gash Cash at bank 567.115 567,115 567.115 437,826) 437.8261 437 826} 129,289 129,289 129289 Total Page 12 continued...
The Oli Hilsdon Foundation Notes to the Financial Ststements- continued for the Year Ended 31 March 2024 13. PRIOR pE0D EXPENSES In the year sundry expenses lolalling £2,808 were recorded that related lo the previous period. This is not deem material and therefore the comparalive fKJures have not teen restated Page13
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