2021-03-31-accounts - The Open Bionics Foundation

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Charity Registration number: 1186502

Trustees’ Annual Report for year ended 31 March 2021

Objectives and activities

The purposes of the charity are the relief of persons throughout the world who need a prosthetic limb or device or services in order to improve the functionality of an impaired, partially existing or non-existent limb. We do this by providing support for:

a) The design, manufacture and maintenance of prosthetic limbs or devices for the specific benefit of such persons
b) The supply of prosthetic limbs or devices for the specific benefit of such persons
c) The services of a prosthetist to help such persons obtain the optimum socket design and to be able to benefit from the full range of prosthetic functionality
d) The development of specific projects to enhance the capabilities and practical users of prosthetics and exo-skeletal devices.

The charity provides financial assistance to individuals of all ages.

The trustees have complied with their duty to have due regard to the commission’s public benefit guidance when exercising any powers or duties to which the guidance is relevant.

The charity is currently run by volunteers. During the year, the charity received the following support from volunteers:

Fundraising Support – Samantha Payne
Financial administrative support – Kate Gloudemans
The charity received a large amount of community support from one-handed gamers and Hero Arm users including Ashla, Travis, and Callum who each participated in fundraising events

Achievements and Performance

During the year, the charity:

Provided funding for 34 multi-grip bionic arms
Formed relationships with two new donors and received further funding from existing donors

Charity Registration number: 1186502

Appointed a new trustee who has experience of being born without a hand and experience of multi-grip bionic technology
Worked with applicants to establish whether match-funding with another charitable trust could be appropriate and therefore maximise impact of donations.
Worked with applicants to establish cases where crowdfunding could be a successful tool.

The foundation also worked with other charitable organisations including the Limbo Foundation, Reach Charity, the Douglas Bader Foundation, and the Dan’s Burns Fund to raise awareness, support amputees, and provide match-funding for clinical care and devices.

Financial Review

During the year, the charity’s activities have increased significantly. Donations of £465,341 have increased 125% compared to the prior year. As a result, the charity has been able to provide £350,538 of financial assistance to help 34 individuals receive a multi-grip bionic arm and has continue to do so post the year end.

During the year, most of the funding came from the following:

a) donations from wealthy individuals who seek to support amputees' access to care and bionic technology.
b) Crowdfunding
c) Jingle Jam – the world’s biggest gaming charity event

Reserves policy and going concern

The trustees aim to maintain free reserves in unrestricted funds that equate to at least 12 months of unrestricted charitable expenditure. Given the current level of volunteer support, such unrestricted charitable expenditure is currently minimal.

The level of unrestricted reserves as at 31 March 2021 was £5,224 which is significantly higher than the current level of annual expenditure. The trustees are confident that the charity has sufficient reserves for the year ahead.

There are no funds held as custodian trustees on behalf of others.

Charity Registration number: 1186502

Risk management

The principal risk faced by the charity is over-reliance on significant donors. The trustees have made steps to mitigate this by expanding the different funding sources.

Reference and Administrative details

Charity name: The Open Bionics Foundation Registered charity no: 1186502 Charity’s principal address Hamilton House, Wells Road, Chilcompton, Somerset BA3 4ET

Trustees

The trustees and officers serving during the year and since year end were as follows:

§ Daniel Melville
§ Kate Grey
§ Susannah Rodgers (appointed 7 May 2020)
§ Beverley Gormley (appointed 18 February 2021)

Structure, Governance and Management

The charity is constituted under a Trust Deed dated 1[st] April 2019.

When appointing trustees:

a) There must be at least 3 trustees.
b) Apart from the first trustees, every trustee must be appointed for a term of 5 years by a resolution of the trustees passed at a special meeting.
c) Trustees must have regard to the skills, knowledge and experience needed for the effective administration of the charity.
d) The Trustees must make available to each new trustee, on his or her first appointment – a copy of the Trust Deed and a copy of the charities’ latest report and statement of accounts.

Charity Registration number: 1186502

The trustees are aware of the increasingly complex and diverse nature of incoming funds and as such, will look to expand the trustee membership to include a trustee with a financial background and to align with the growth of the foundation.

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees:

Signature
Name	Beverley Gormley	Susannah Rodgers
Date	28 Jan 2022	28 Jan 2022

Issuer Sprout Consulting Ltd Document generated Fri, 28th Jan 2022 12:33:34 UTC Document fingerprint a06d3d3efabff176242b9e9ff749c252

Parties involved with this document

Document processed Party + Fingerprint Fri, 28th Jan 2022 12:40:22 UTC Susannah Rodgers - Signer (745cd96752151be04d4483bd0f1c051a) Fri, 28th Jan 2022 13:26:10 UTC Beverley Gormley - Signer (e6d051e7b22315a2f8c437936a2d4900)

Audit history log

Date

Action

Fri, 28th Jan 2022 13:26:10 UTC The envelope has been signed by all parties. (151.228.179.39) Fri, 28th Jan 2022 13:26:10 UTC Beverley Gormley signed the envelope. (151.228.179.39) Fri, 28th Jan 2022 13:11:26 UTC Beverley Gormley viewed the envelope. (151.228.179.39) Fri, 28th Jan 2022 12:40:23 UTC Document emailed to party email (3.8.197.1) Fri, 28th Jan 2022 12:40:22 UTC Sent the envelope to Beverley Gormley for signing. (165.225.81.114) Fri, 28th Jan 2022 12:40:22 UTC Susannah Rodgers signed the envelope. (165.225.81.114) Fri, 28th Jan 2022 12:37:56 UTC Susannah Rodgers viewed the envelope. (165.225.81.114) Fri, 28th Jan 2022 12:35:39 UTC Document emailed to party email (35.179.91.172) Fri, 28th Jan 2022 12:35:39 UTC Sent the envelope to Susannah Rodgers for signing. (18.130.236.37) Fri, 28th Jan 2022 12:34:21 UTC Beverley Gormley has been assigned to this envelope (18.130.236.37) Fri, 28th Jan 2022 12:34:21 UTC Susannah Rodgers has been assigned to this envelope (18.130.236.37) Fri, 28th Jan 2022 12:33:47 UTC Document generated with fingerprint a06d3d3efabff176242b9e9ff749c252 (18.130.236.37) Fri, 28th Jan 2022 12:33:45 UTC Document generated with fingerprint 19cb3f942ff2b6df625b05fd879eae7d (18.130.236.37) Fri, 28th Jan 2022 12:33:34 UTC Envelope generated by TaxCalc customer 146258 (18.130.236.37)

The Open Bionics Foundation Charity No: 1186502 Annual Accounts for the year ended 31 March 2021

Statement of financial activities

Unrestricted funds Restricted income funds Endowment funds	Total funds	Total funds
	31 Mar 21	31 Mar 20
£ £ £	£	£
Incoming resources (Note 3)
Income and endowments from:
Donations and legacies 5,748 462,649 -	468,397	209,135
Charitable activities - - -	-	-
Other trading activities - - -	-	-
Investments 17 -	17	119
Separate material item of income - - -	-	-
Other - - -	-	-
Total 5,765 462,649 -	468,414	209,253
Resources expended (Note 6)
Expenditure on:
Raising funds - - -	-	-
Charitable activities - 350,538 -	350,538	113,216
Separate material item of expense - -	-
Other 420 - -	420	240
Total 420 350,538 -	350,958	113,456

Net income/(expenditure) before investment gains/(losses) 5,345 112,111 -	117,456	95,798
Net gains/(losses) on investments - - -	-	-
Net income/(expenditure) 5,345 112,111 -	117,456	95,798
Extraordinary items - - -	-	-
Transfers between funds - - -	-	-
Other recognised gains/(losses):
Gains and losses on revaluation of fixed assets for the charity’s own use - - -	-	-
Other gains/(losses) - - -	-	-
Net movement in funds 5,345 112,111 -	117,456	95,798

Reconciliation of funds:
Total funds brought forward (121) 95,919 -	95,798	-
Total funds carried forward 5,224 208,030 -	213,254	95,798

The Open Bionics Foundation Charity No: 1186502

Balance sheet

Balance sheet
Unrestricted funds Restricted income funds Endowment funds	As at 31 Mar 2021	As at 31 Mar 2020
£ £ £	£	£
Current assets
Debtors - - -	-	-
Cash at bank and in hand (Note 7) 5,644 208,030 -	213,674	96,038
Total current assets 5,644 208,030 -	213,674	96,038

Creditors: amounts falling due within one year (Note 6) 420 - -	420	240

Net current assets/(liabilities) 5,224 208,030 -	213,254	95,798

Total assets less current liabilities 5,224 208,030 - 213,254 95,798

Creditors: amounts falling due after one year (Note 7) - - -	-	-
Provisions for liabilities - - -	-	-

Total net assets or liabilities 5,224 208,030 -	213,254	95,798
Funds of the Charity
Restricted income funds (Note 8) 208,030	208,030	95,919
Unrestricted funds 5,224 -	5,224	(121)
Revaluation reserve	-
Total funds 5,224 208,030 -	213,254	95,798

Signed on behalf of all the trustees

Signature
Name Beverley Gormley Susannah Rodgers
Date 28 Jan 2022 28 Jan 2022

The Open Bionics Foundation Charity No: 1186502

Notes to the accounts

Note 1 - Basis of preparation

1.1 Basis of accounting

These accounts have been prepared on a going concern basis, under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The accounts 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) (effective 1 January 2015) and with the Charities Act 2011.

1.2 Going Concern

The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have concluded that there are sufficient reserves to enable the charity to continue its activities for the foreseeable future and have prepared the financial statements on a going concern basis.

Note 2 - Accounting policies

2.1 Income

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

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

The value of voluntary help received is not included in the accounts but is described in the trustees’ annual report.

2.2 Expenditure

Expenditure is recognised once there is a legal or constructive obligation committing the Trust to that expenditure, it is probable that settlement will be required and that the amount of the obligation can be measured reliably.

Charitable activities include all expenditure incurred directly relating to the objects of the charity. This expenditure is recognised in the year in which payment is made.

The Open Bionics Foundation Charity No: 1186502

Notes to the accounts (continued)

Note 3 - Analysis of income

Unrestricted funds Restricted income funds Endowment funds	Total funds	Prior year
	£	£
Donations and legacies:
Donations and gifts 5,748 459,593 - Gift Aid - 3,057 - Legacies - - - Other - - -	465,341	209,135
	3,057	-
	-	-
	-
Total 5,748 462,649 -	468,397	209,135

Charitable activities:
- - -	-	-
- - -	-	-
Total - - -	-	-

Other trading activities:
- - -	-	-
- - -	-	-
Total - - -	-	-

Income from investments:
Interest income 17 - - Other - - -	17	119
	-	-
Total 17 - -	17	119

Separate material item of income:
- - - - - -	-	-
	-	-
Total - - -	-	-

Other:
- - - - - -	-	-
	-	-
Total - - -	-	-

TOTAL INCOME 5,765 462,649 -	468,414	209,253

The Open Bionics Foundation Charity No: 1186502

Notes to the accounts (continued)

Note 4 - Analysis of expenditure

	This year Unrestricted funds Restricted income funds Endowment funds Total funds £ - - - -	Last year Unrestricted funds Restricted income funds Endowment funds - - -	Total funds £ -

Total expenditure on raising funds	- - - -	- - -	-
Expenditure on charitable activities: Financial support to fund multi-grip prosthetic devices and fitting costs	- 350,538 - 350,538 - - - -	- 113,216 - - - -	113,216 -
Total expenditure on charitable activities	- 350,538 - 350,538	- 113,216 -	113,216
Separate material item of expense	- - - -	- - -	-
Total	- - - -	- - -	-
Other Independent examination	420 - - 420 - - - -	240 - - - - -	240 -
Total other expenditure	420 - - 420	240 - -	240
TOTAL EXPENDITURE	420 350,538 - 350,958	240 113,216 -	113,456

Note 5 - Details of certain items of expenditure

5.1 Fees for examination of the accounts

5.1 Fees for examination of the accounts
	This
	year Last year
	£	£
Independent examiner’s fees	420	240
Assurance services other than audit or independent examination	-	-
Tax advisory fees	-	-
Other fees	-	-

The Open Bionics Foundation Charity No: 1186502

Notes to the accounts (continued)

Note 6 - Cash at bank and in hand

	This year	Last year
	£	£
Cash at bank and on hand	213,674	96,038
Other	-	-
Total	213,674	96,038

Note 7 – Creditors & Accruals

			Amounts falling due	Amounts falling due	Amounts falling due	Amounts falling due after	Amounts falling due after	Amounts falling due after	Amounts falling due after	Amounts falling due after
			within one year			more than one year
			This year		Last year	This year		Last year
			£		£	£			£
Trade creditors				-	-			-		-
Accruals and deferred income			420		240			-		-
Other creditors				-	-			-		-
Total			420		240			-		-
Note 8 – Charity Funds
8.1 Details of material funds held and movements during				the CURRENT reporting period
				Fund							Fund
	Type	Purpose and Restrictions	balances brought forward		Income	Expenditure	Transfers		Gains and losses		balances carried forward
Fund names				£	£	£		£		£	£
		Provide financial
Paul Nicholas		assistance to specific
Fund	Restricted	individuals		50,735	140,376	(179,248)		-		-	11,863
		Provide financial
The Prism		assistance to specific
Foundation	Restricted	individuals		9,432	35,000	(33,951)		-		-	10,481
		Provide financial
		assistance - unspecified
Yogscast	Restricted	individuals		-	151,600	(18,548)		-		-	133,052
		Provide financial
		assistance - unspecified
Other funds	Restricted	individuals		35,753	135,673	(118,791)		-		-	52,635
Other funds	Unrestricted			(121)	5,765	(420)		-		-	5,224
Total Funds				95,798	468,414	(350,958)		-		-	213,254

The Open Bionics Foundation Charity No: 1186502

Notes to the accounts (continued)

8.2 Details of material funds held and movements during the PREVIOUS reporting period

Fund names	Type	Purpose and Restrictions	Fund balances brought forward	Income	Expenditure	Transfers	Gains and losses	Fund balances carried forward
			£	£	£	£	£	£
Paul Nicholas Fund	Restricted	Provide financial assistance to specific individuals	-	135,000	(84,265)	-	-	50,735
The Prism Foundation	Restricted	Provide financial assistance to specific individuals	-	38,382	(28,950)	-	-	9,432
Other funds	Restricted	Provide financial assistance - unspecified individuals	-	35,753	-	-	-	35,753
Other funds	Unrestricted		-	119	(240)	-	-	(121)
			-	209,253	(113,455)	-	-	95,798
Total Funds

NB. The previous reporting period was prepared on a Receipts basis so Unrestricted funds were not in deficit as at 31 March 2020.

Issuer Sprout Consulting Ltd Document generated Fri, 28th Jan 2022 12:33:34 UTC Document fingerprint 19cb3f942ff2b6df625b05fd879eae7d

Parties involved with this document

Audit history log

Date

Action

INDEPEF%DBNT EXAMtNER'S REPORT TO THE TRUSTEES OF THE OPEN BIONICS FOUNDATION llldepeDdent eIAther'8 report to the truytees of The Opett Bionlf 5 Foundgtion. I report to the charity tntteS on my cxamiD8tion of the accounts of Th¢ Open Bionics Foundution (the T[$t) for the year ended 31 March 2021. Regponsibilities 4nd basts of report As the chariiy tNstees of the Tn]st you are resp(lS1bIe for the prepartition of the w)uits accordance with the requirements of the Charities Act 2011 Cthe ACQ. I r¢wrt in respect of my examitMtioD of the Trngvs aceounts eAui¢d out uttd¢r section 145 of the Act and in caTrying out my examtnatioD I have followed All 8ppli¢abl¢ Directions given by th¢ Charity Con)mi&sion under section 145(5)(b) of the ACL Independent examiner's stxtement Sinc¢ yow ¢haritVs gross ivcome exceeded £250, rtot eomply with the appli¢abl¢ wuirements con¢emtng the forni and cont¢nt of accounts set out in the chariti (AUllts aad Reports) Regulations 2008 other tlmll any requirern¢nt that the accounts give a trne aThl faiT view which is not a maiierconsidercd as part of au independent examinatiotL I have no c4)ncerns and have c4)me aeross no other mitters in connwtion with the examination to which attentlon should be drawn iti this rqxjrt iti oIdv tt> eAJabl2 a proper Thderstanding of the accounts th be reaehed. lan Barrett FCA FCtE 31* January 2022 Ch&rtered AeKountants & Chartered Advisers 22 Union Str¢¢i N¢wton Abbot Devon TQ122JS