Smile for Miley
Report and Financial Statements Year ended: 31[st] December 2020 Charity no. 1188417
Reference and administrative information
Trustees
Jake Todd Simon Dominic Todd Gary Ashbridge Rebecca Todd Samantha Todd
Registered office
52 John Street, Maryport, Cumbria, CA15 6LJ
Charity Number
1188417
Bankers
Lloyds Bank, 25 Gresham Street, London, EC2V 7HN
Report of the trustees for the year ending 31[st] December 2020
The trustees present their annual report and financial statements of the charity for the year ending 31[st] December 2020. The financial statement is set out in appendix A of this document.
Structure, governance, and management
Smile for Miley is a CIO registered under charity number 1188417, and is operated in compliance with its constitution dated 09/01/2020. The charity was established in 2020 in the memory of Miley Todd, who’s short illness highlighted to her family how important it is that families have suitable support during the worst time in their life – when their son, daughter, brother or sister is critically ill or dying. We raise funds through donations and sponsorship, with money raised being granted to beneficiaries at regular intervals. During our first year, we have raised over £15,000 in donations.
New trustees are appointed by existing trustees and serve for a period of 3 years, after which they may put themselves forward for re-appointment. The constitution provides for a minimum of 3
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trustees and a maximum of 12. The first trustees were appointed with staggered terms, so that not all trustees were due for re-appointment at the same time.
The trustees must hold at least 1 general meeting of members each year. During this meeting, and any other meeting of members, trustees discuss any administrative activities which need to be addressed at the time, as well as any beneficiaries who the trustees are considering granting funds to. Minutes from the meeting are taken by the meeting facilitator and kept in the charity’s records.
All trustees give their time freely, and no trustee remuneration was paid in the report period. No trustee expenses or related transactions were claimed during this period. Trustees are required to report any interest to all fellow trustees which they believe conflicts with their ability to act solely in the interest of the charity.
Risk Management
The trustees have considered the risks to which the charity is exposed. The charity does not make investments or own any assets, so risks are considered to be extremely low. The charity does not have many financial commitments, so even if it is not possible to host events to bring in donations, the charity would not struggle to meet its obligations.
Objects and activities for the public benefit
The objects of the charity are the relief of those in need by reason if ill-health (either directly or indirectly). At least for the first few years of operation, the trustees intend to grant most of the funds raised directly to The Sick Children’s Trust (Crawford House), whilst also looking to assist families directly in the local area. We operate within Cumbria and the Northeast of England. The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future events.
No grants were made during our first year of operation, as the main focus has been building up funds for future grants, which will be made next year (2021).
Grant making policy
The charity has established its grant making policy to achieve its objects for the public benefit to assist and support the families of sick or deceased children in Cumbria and the Northeast of England. We review the grant making policy annually.
The beneficiaries of our grant making programme are ultimately the families of sick or deceased children. When a child is sick, dying, or has recently passed away, financial burdens can increase the stress or grief experienced by the family. Families may even have to adapt homes to
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accommodate for a sick child. The charity hopes to ease some of this burden for families in our area.
The trustees are due to review how people can apply for a grant, but this is likely to be an online form available through the charity’s website.
Financial review
The charity’s work is entirely reliant on the generosity of the people who participate in our events and those who sponsor them. At the start of our first year (this year), we had an account balance of £6,317.97. Our year end balance was £19,507.17. No grants were made during this period, with the only outgoings being administrative payments for accounting software, website hosting platform, etc..
Reserves policy
The trustees consider that a reserve amount equal to 12 months of administrative costs should always be available in the account. This amount will be considered as £1,000.00 – though the actual amount would likely be less.
As detailed in the financial review above, the amount held in reserve at year end was £19,507.17. Having extra money held in reserve means that it is not being used to benefit our objects, and so should be kept to a minimum. The trustees are making arrangements to grant some of the excess funds as soon as possible.
Plans for the future
Smile for Miley has a number of fundraising events planned for next year, with participants already coming forward. Details can be found on our website smileformiley.com.
The trustees also plan to make a donation (grant) to The Sick Children’s Trust (Crawford House) to the amount of £10,000.00.
Trustees’ responsibilities in relation to the financial statements
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards. The law applicable to charities in England and Wales requires the trustee(s) 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 income, resources and application of resources of the charity for that period. In preparing these 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 of the charity’s constitution;
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Make judgements and estimates that are reasonable and prudent.
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The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity, and enable them to ascertain to ensure that the financial statements comply with the Charities Act 1993, the Charity (Accounts and Reports) Regulations 2008, and the provisions of the charity’s constitution. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website.
Approved by the trustees on 16[th] January 2021.
Jake Todd
Dominic Todd
Rebecca Todd
Gary Ashbridge
Samantha Todd
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Appendix A
Smile for Miley statement of financial activities for the year ending 31[st] December 2020
1. Overview
| Balance at year beginning |
Income during financial year |
Outgoings during financial year |
Balance at year end |
|---|---|---|---|
| £6,317.97 | £15,139.36 | £1,950.16 | £19,507.17 |
2. Accounts
Income;
Website Donations = £1,611.20 Cash Deposit = £13,528.16
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Website
INCOME Donations
=
11%
Cash
Deposit =
89%
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Outgoings;
Admin Costs = £374.16 Refunded Donations = £1,000.00 Event Costs = £576.00 Grant Payments = £0.00
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OUTGOINGS Grant
Payments = Admin Costs
0% =
Event Costs
19%
=
30%
Refunded
Donations =
51%
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