REGISTERED COMPANY NUMBER: 11943477 (England and Wales) REGISTERED CHARITY NUMBER: 1185091
Report of the Trustees and
Audited Financial Statements for the period 1 May 2020 to 31 December 2020
for
FOLLICULAR LYMPHOMA FOUNDATION (A COMPANY LIMITED BY GUARANTEE)
Haines Watts Chartered Accountants New Derwent House 69-73 Theobalds Road London WC1X 8TA
Contents of the Financial Statements for the period 1 May 2020 to 31 December 2020
FOLLICULAR LYMPHOMA FOUNDATION
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 to 5 |
| Report of the Independent Auditors | 6 to 8 |
| Statement of Financial Activities | 9 |
| Statement of Financial Position | 10 |
| Statement of Cash Flows | 11 |
| Notes to the Statement of Cash Flows | 12 |
| Notes to the Financial Statements | 13 to 17 |
| Detailed Statement of Financial Activities | 18 |
FOLLICULAR LYMPHOMA FOUNDATION
Reference and Administrative Details for the period 1 May 2020 to 31 December 2020
Trustees Lord J N Mendelsohn Lady N S Mendelsohn F E Dawson R I Harrington P M V Thompson A Wong Registered office New Derwent House 69-73 Theobalds Road London WC1X 8TA Registered company number 11943477 (England and Wales) Registered charity number 1185091 Auditors Haines Watts Chartered Accountants New Derwent House 69-73 Theobalds Road London WC1X 8TA
Registered office
Auditors
Page 1
FOLLICULAR LYMPHOMA FOUNDATION
Report of the Trustees for the period 1 May 2020 to 31 December 2020
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the period 1 May 2020 to 31 December 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Objectives and activities Objectives and aims
Our mission is to help those with Follicular Lymphoma , a currently incurable blood cancer, to live well and get well by finding and funding the best research to find breakthroughs that will change how we understand and treat the condition. We provide Follicular Lymphoma focused information resources for patients and work to ensure patients' voices are at the heart of the search for better treatments and cure
More specifically, the Charities Objects are restricted to the following:
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To sponsor basic and translational research to assist in the development of treatments and a cure for Follicular Lymphoma including sponsoring the establishment of an international challenge to scientific and clinical researchers to focus on prospective cures.
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To support the promotion of the "patient voice", by supporting patient advocacy, the development of patient communities and evaluating the efficacy of patient reported outcomes on current treatments and side effects to assist clinicians and patients
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To improve health outcomes by way of stimulating research and evaluation of complementary conditions to supplement medical treatment.
Strategic report
Achievement and performance
The Follicular Lymphoma Foundation is an international effort to find and accelerate cures and speed the delivery of precision-based treatments for this little known cancer.
The Foundation launched publicly in November 2019 and has been focused on developing its strategy and laying the framework for a hugely exciting programme of work.
None of this would have been possible without the extraordinary support of the hundreds of individuals who have donated to the Foundation to help achieve our goal.
Charitable activities
Strategy
Over the course of the year the FLF harnessed its global network to develop a strategic approach and framework. The Foundation created a programmatic plan based on two pillars:
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Pillar 1: The Patient & Precision Medicine Programme to harness the power of patients and the patient community in the development of cures and new precision medicine approaches
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Pillar 2: The Targeted Research Investment Programme to invest in only the most promising international FL research.
The work programmes within these two pillars will be developed over the course of the next year - see Plans for the next 12 Months below.
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FOLLICULAR LYMPHOMA FOUNDATION
Report of the Trustees for the period 1 May 2020 to 31 December 2020
Strategic report
Achievement and performance Partnerships
One of the Foundation's core working principles is to avoid duplication and bring added value to the field by forging partnerships to complement existing programs, drive better outcomes and create impact. Early stage potential partnerships were established during this year with research institutions, other non-profits and a commercial entities.
Information Provision and Public Awareness Raising
The launch of the FLF raised awareness of the disease with the general public and helped link people living with FL with sources of information and support.
As part of the launch the Foundation developed the a new website as a trusted source of information FL patients. This was the world's first website dedicated exclusively to Follicular Lymphoma.
Financial review
Financial position
The Financial accounts for the 8 months period show a surplus of £91,895 and the charity is well-positioned to increase its activities in the future.
Reserves policy
At 31 December 2020, unrestricted reserves were £356,336.
The organisation operates with limited overheads. The Trustees have determined that the reserves target should be at the level of 3 months' expected expenditure. Budgeted expenditure in the 2021 financial year is in excess of £1,490,000, and the Trustees have set a targeted reserves figure of £85,000 as at 31 December 2020.
Going concern
The financial statements have been prepared on a going concern basis.
Covid-19 has had significant impacts on the Charity. Its patient community is classified as clinically one of those most extremely vulnerable due to the nature of the B Cell impacts, and this community is at high risk of serious or fatal consequences of contracting the disease. Additionally, the likely chemotherapy and immunotherapy treatments for the cancer have a high B cell suppression that limits antibody production. Patients are very likely to have negative responses to vaccinations and those in the UK are most likely not to be aided by the vaccinations due to the type of vaccine and the dosing strategy. Accordingly, the work of the charity has been disrupted by this pandemic and will likely do so well after the rest of the population have been considered not at risk and have abandoned face masks, social distancing and restrictions to reduce spread. Accordingly holding meetings and gatherings have all had to move online. We had been hardest hit by three very significant in person fundraising events having to be cancelled and we have now adopted a new approach to fundraising which seems to indicate great promise to increase the capacity of the charity in 2021. A lot more attention has been given to communications and information provision to deal with issues around the problems associated with FL patients and the Covid-19 risk. Finally, the key projects that the Board agreed to deliver have been both affected by some delay due to the pandemic. However, working practises, recruitment and new approaches provide an opportunity for swifter progress in 2021.
The Trustees have reviewed and considered the above matters in relation to the annual budget and future cash flows in making their assessment of the overall impact of Covid 19. Based on these assessments, given the measures that can and have been undertaken to mitigate the current adverse conditions, and the current resources available, the Trustees have concluded that ongoing charity operational performance will not be materially affected and that they can continue to adopt the going concern basis in preparing the annual report and accounts.
Principal risks and uncertainties
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The trustees have assessed major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to such major risks
Procedures are in place to ensure compliance with health and safety of staff, volunteers, clients and visitors to the organisation. The Charity has the appropriate level of insurance to meet its obligations in respect of employees and members of the public and otherwise has a business continuity plan to cover extreme eventualities.
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FOLLICULAR LYMPHOMA FOUNDATION
Report of the Trustees for the period 1 May 2020 to 31 December 2020
Strategic report Future plans
Plans for the next 12 Months
Patient & Precision Medicine Strategy
- Patient Programme: Over the coming year the Foundation is developing a flagship Patient Project, working closely with a number of key partners and focus groups of international patients living with FL. A public launch is provisionally planned for the second half of 2021
- Precision Medicine Programme: The Foundation's first prospective partnership is with a US based company who are pioneering lymphoma research with the use of biomedical software for advanced patient analysis and personalized therapy decision making in the fight against cancer.
- Capacity building: The Foundation will hire a Chief Medical Officer to build the expertise of the Foundation and support the delivery of these operational projects.
Targeted Research Investment Program
This programme will make significant investments in only the most promising FL research available. This work will be managed by our US based entity the International Follicular Lymphoma Challenge (IFLC).
The programme will be divided into two streams
- Priority List Fund: This programme will invest in research that focuses on one of more genetic mutations from a published Priority Target List. This list will be developed during the next 12 months working with a non-profit and in collaboration with key opinion leaders in the field.
- Opportunity Fund: This programme will support exceptional and innovative proposals with a high-risk high-reward approach that fall outside of the other areas of work.
Structure, governance and management Governing document
FLF is a private company limited by guarantee.
The company was established on 12 April 2019 under a Memorandum of Association which determines the objects and powers of the charitable company and is governed under its Articles of Association.
The charitable company was registered with the Charity Commission on 29 August 2019.
Decision making
The Board of Trustees meets quarterly and is responsible for the strategic direction and policy of the charity and for monitoring the management and outcomes of services. Board members are drawn from a variety of professional backgrounds relevant to the work of the charity. The Board has recruited additional Trustees to strengthen its governance still further in recognition of the growth and diversification of the charity's activities. The Chief Executive is delegated to deal with day to day operations.
Statement of trustees' responsibilities
The trustees (who are also the directors of Follicular Lymphoma Foundation for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
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FOLLICULAR LYMPHOMA FOUNDATION
Report of the Trustees
for the period 1 May 2020 to 31 December 2020
Statement of trustees' responsibilities - continued
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
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there is no relevant audit information of which the charitable company's auditors are unaware; and
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the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
Auditors
The auditors, Haines Watts Chartered Accountants, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 24[th] September 2021 and signed on the board's behalf by:
Lord J N Mendelsohn - Trustee
Page 5
Report of the Independent Auditors to the Members of Follicular Lymphoma Foundation
Opinion
We have audited the financial statements of Follicular Lymphoma Foundation (the 'charitable company') for the period ended 31 December 2020 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In our opinion the financial statements:
-
give a true and fair view of the state of the charitable company's affairs as at 31 December 2020 and of its incoming resources and application of resources, including its income and expenditure, for the period then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
However, not all future events or conditions can be predicted. The COVID-19 viral pandemic is one of the most significant economic events for the UK with unprecedented levels of uncertainty of outcomes. It is therefore difficult to evaluate all of the potential implications on the charity activity and wider economy. The Trustees view on the impact of COVID-19 is disclosed in the accounting policies note.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the Report of the Trustees has been prepared in accordance with applicable legal requirements.
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Report of the Independent Auditors to the Members of Follicular Lymphoma Foundation
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We discussed with the Directors the policies and procedures in place regarding compliance with laws and regulations. We discussed amongst the audit team the identified laws and regulations, and remained alert to any indications of non-compliance.
During the audit we focussed on laws and regulations which could reasonably be expected to give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management.
Our procedures in relation to fraud included but were not limited to: inquires of management whether they have any knowledge of any actual, suspected or alleged fraud, and discussions amongst the audit team regarding risk of fraud such as opportunities for fraudulent manipulation of financial statements. We determined that the principal risks related to posting manual journal entries to manipulate financial performance and management bias through judgements in accounting estimates. We also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
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Report of the Independent Auditors to the Members of Follicular Lymphoma Foundation
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Jane Wills (Senior Statutory Auditor) for and on behalf of Haines Watts Chartered Accountants New Derwent House 69-73 Theobalds Road London WC1X 8TA
Date: 29[th] September 2021
Page 8
FOLLICULAR LYMPHOMA FOUNDATION
Statement of Financial Activities
(Incorporating an Income and Expenditure Account) for the period 1 May 2020 to 31 December 2020
| Period | Period | ||
|---|---|---|---|
| 1/5/20 | 12/4/19 | ||
| to | to | ||
| 31/12/20 | 30/4/20 | ||
| Unrestricted | |||
| fund | Total funds | ||
| Notes | £ | £ | |
| Income and endowments from | |||
| Donations and legacies | 2 | 380,322 | 502,971 |
| Expenditure on | |||
| Raising funds | 3 | 25,588 | 49,215 |
| Charitable activities | 4 | ||
| Direct Expenditure | 192,834 | 124,515 | |
| Governance costs | 11,467 | 11,544 | |
| Support costs | 58,538 | 53,256 | |
| Total | 288,427 | 238,530 | |
| NET INCOME | 91,895 | 264,441 | |
| Reconciliation of funds | |||
| Total funds brought forward | 264,441 | - | |
| Total funds carried forward | 356,336 | 264,441 |
Continuing operations
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 9
FOLLICULAR LYMPHOMA FOUNDATION (REGISTERED NUMBER: 11943477)
Statement of Financial Position 31 December 2020
| 2020 | 2020 | ||
|---|---|---|---|
| Unrestricted | |||
| fund | Total funds | ||
| Notes | £ | £ | |
| Fixed assets | |||
| Tangible assets | 9 | 2,627 | 839 |
| Current assets | |||
| Debtors | 10 | 9,911 | 9,714 |
| Cash at bank | 508,176 | 311,181 | |
| 518,087 | 320,895 | ||
| Creditors | |||
| Amounts falling due within one year | 11 | (164,378) | (57,293) |
| Net current assets | 353,709 | 263,602 | |
| Total assets less current liabilities | 356,336 | 264,441 | |
| NET ASSETS | 356,336 | 264,441 | |
| Funds | 12 | ||
| Unrestricted funds: | |||
| General fund | 356,336 | 264,441 | |
| Total funds | 356,336 | 264,441 |
The financial statements were approved by the Board of Trustees and authorised for issue on 24[th] September 2021 and were signed on its behalf by:
J N Mendelsohn - Trustee
The notes form part of these financial statements
Page 10
FOLLICULAR LYMPHOMA FOUNDATION
Statement of Cash Flows
for the period 1 May 2020 to 31 December 2020
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Net cash used in investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
Period 1/5/20 to 31/12/20 £ 200,305 200,305 (3,310) (3,310) 196,995 311,181 508,176 |
Period 12/4/19 to 30/4/20 £ 312,440 312,440 (1,259) (1,259) 311,181 - 311,181 |
|---|---|---|
The notes form part of these financial statements
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FOLLICULAR LYMPHOMA FOUNDATION
Notes to the Statement of Cash Flows
for the period 1 May 2020 to 31 December 2020
1. Reconciliation of net income to net cash flow from operating activities
| Period | Period | |||
|---|---|---|---|---|
| 1/5/20 | 12/4/19 | |||
| to | to | |||
| 31/12/20 | 30/4/20 | |||
| £ | £ | |||
| Net income for the reporting period (as per the Statement of Financial | ||||
| Activities) | 91,895 | 264,441 | ||
| Adjustments for: | ||||
| Depreciation charges | 1,522 | 420 | ||
| Increase in debtors | (197) | (9,714) | ||
| Increase in creditors | 107,085 | 57,293 | ||
| Net cash provided by operations | 200,305 | 312,440 | ||
| 2. | Analysis of changes in net funds | |||
| At 1/5/20 | Cash flow | At 31/12/20 | ||
| £ | £ | £ | ||
| Net cash | ||||
| Cash at bank | 311,181 | 196,995 | 508,176 | |
| 311,181 | 196,995 | 508,176 | ||
| Total | 311,181 | 196,995 | 508,176 |
The notes form part of these financial statements
Page 12
Notes to the Financial Statements for the period 1 May 2020 to 31 December 2020
FOLLICULAR LYMPHOMA FOUNDATION
1. Accounting policies
FLF is a private company limited by guarantee, and a registered charity.
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Critical accounting judgements and key sources of estimation uncertainty
Management do not consider there to be any material judgements or estimation and uncertainty requiring disclosure.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Governance costs
Governance costs include costs of the preparation and examination of the statutory accounts, the costs of trustee meetings and the cost of any legal advice on governance matters.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
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FOLLICULAR LYMPHOMA FOUNDATION
Notes to the Financial Statements - continued
for the period 1 May 2020 to 31 December 2020
1. Accounting policies - continued
Going concern
The financial statements have been prepared on a going concern basis. The Trustees have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. In particular, in response to the COVID-19 pandemic, the Trustees have taken into account the current impact on their business and of possible future scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that have and could be undertaken to mitigate the current adverse conditions, and the current resources available, the Trustees have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.
2. Donations and legacies
| 2. Donations and legacies |
||
|---|---|---|
| Donations 3. Raising funds |
Period 1/5/20 to 31/12/20 £ 380,322 |
Period 12/4/19 to 30/4/20 £ 502,971 |
Raising donations and legacies
| Raising donations and legacies | |
|---|---|
| Period 1/5/20 to 31/12/20 £ Staff costs 12,558 Marketing and Communications 13,030 25,588 |
Period 12/4/19 to 30/4/20 £ 24,148 25,067 |
| 49,215 |
4. Charitable activities costs
| Charitable activities costs | ||
|---|---|---|
| Direct Expenditure Governance costs Support costs |
Support Direct costs (see Costs note 5) £ £ 192,834 - - 11,467 - 58,538 192,834 70,005 |
Totals £ 192,834 11,467 58,538 |
| 262,839 |
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FOLLICULAR LYMPHOMA FOUNDATION
Notes to the Financial Statements - continued
for the period 1 May 2020 to 31 December 2020
5. Support costs
| Support costs | ||
|---|---|---|
| Governance costs Support costs |
Governance Other costs £ £ - 11,467 58,538 - 58,538 11,467 |
Totals £ 11,467 58,538 |
| 70,005 |
6. Net income/(expenditure)
Net income/(expenditure) is stated after charging/(crediting):
| Period | Period | |
|---|---|---|
| 1/5/20 | 12/4/19 | |
| to | to | |
| 31/12/20 | 30/4/20 | |
| £ | £ | |
| Auditors' remuneration | 6,900 | 2,640 |
| Depreciation - owned assets | 1,522 | 420 |
7. Trustees' remuneration and benefits
There were no trustees' remuneration or other benefits for the period ended 31 December 2020 nor for the period ended 30 April 2020.
Trustees' expenses
There were no trustees' expenses paid for the period ended 31 December 2020 nor for the period ended 30 April 2020.
Donations from Trustees'
During the period the total aggregate amount of donations from Trustees was £10,000 (2020: £50,000).
8. Staff costs
The average number of employees during the year was 1 (2020 - 1).
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
| Period | Period | ||
|---|---|---|---|
| 1/5/20 | 12/4/19 | ||
| to | to | ||
| 31/12/20 | 30/4/20 | ||
| £60,001 | - £70,000 | 1 | 1 |
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FOLLICULAR LYMPHOMA FOUNDATION
Notes to the Financial Statements - continued
for the period 1 May 2020 to 31 December 2020
9. Tangible fixed assets
| Cost At 1 May 2020 Additions At 31 December 2020 Depreciation At 1 May 2020 Charge for year At 31 December 2020 Net book value At 31 December 2020 At 30 April 2020 10. Debtors: amounts falling due within one year Prepayments and accrued income 11. Creditors: amounts falling due within one year Trade creditors Other creditors Accruals and deferred income |
Computer equipment £ 1,259 3,310 4,569 420 1,522 1,942 2,627 839 2020 2020 £ £ 9,911 9,714 2020 2020 £ £ 2,858 7,756 54,346 46,641 107,174 2,896 164,378 57,293 |
|---|---|
12. Movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
Net movement At 1/5/20 in funds £ £ 264,441 91,895 264,441 91,895 |
At 31/12/20 £ 356,336 356,336 |
|---|---|---|
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 380,322 | (288,427) | 91,895 |
| TOTAL FUNDS | 380,322 | (288,427) | 91,895 |
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FOLLICULAR LYMPHOMA FOUNDATION
Notes to the Financial Statements - continued for the period 1 May 2020 to 31 December 2020
12. Movement in funds - continued
Comparatives for movement in funds
| Net | ||
|---|---|---|
| movement | ||
| in funds | At 30/4/20 | |
| £ | £ | |
| Unrestricted funds | ||
| General fund | 264,441 | 264,441 |
| TOTAL FUNDS | 264,441 | 264,441 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 502,971 | (238,530) | 264,441 |
| TOTAL FUNDS | 502,971 | (238,530) | 264,441 |
13. Related party disclosures
During the period ended 30 April 2020 interest-free loans were made to the Charity by the Trustees Lord and Lady Mendelsohn. At 31 December 2020 £44,982 (2019: £44,981) was owing to them.
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