**REGISTERED CHARITY NUMBER: 1195195**
## Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2023
for
## AZAYLIA FOUNDATION
Tally Lucas Associates Chartered Certified Accountants Unit 1 Alexander Charles House Station Passage South Woodford E18 1JL
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AZAYLIA FOUNDATION
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Contents of the Financial Statements
for the Year Ended 31 December 2023
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|||Page||
|---|---|---|---|
|CEO's Report||1||
|Report of the Trustees|2|to|5|
|Independent Examiner's Report||6||
|Statement of Financial Activities||7||
|Balance Sheet||8||
|Notes to the Financial Statements|9|to|11|
|Detailed Statement of Financial Activities||12||
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AZAYLIA FOUNDATION
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for the Year Ended 31 December 2023
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## `CEO's Report`
2023 was a year of focus and consolidation for The Azaylia Foundation and its impact-led programmes and campaigns.
Our Azaylia Childhood Cancer PhD scholarship program, designed to fund the next generation of medical talent and their research in partnership with leading hospitals and universities in the UK, grew both in terms of visibility and impact. We celebrated our first Azaylia PhD Scholar, who began her research at Oxford University in September, and the University of Birmingham appointed their first two Azaylia PhD Scholars who will begin their work in 2024. In December we launched one of the most powerful and widely seen childhood cancer awareness campaigns ever created, which was viewed over 3 million times, with the support of many public figures and our incredible community, which allowed us to commit to the funding of an additional 2 PhD scholars in partnership with Birmingham Children's Hospital Charity and The University of Birmingham. We have now committed to funding 5 Azaylia PhD Scholars since the programme's inception in 2022, a significant milestone in our objective of funding 20 Childhood Cancer PhDs in 5 years.
Our Wear Orange for Azaylia non-uniform day in schools - designed to inspire kindness, inclusivity and mutual support amongst children, while at the same time raising awareness with parents and teachers on the systemic underfunding of childhood cancer by our institutions - saw our founder Safiyya Vorajee visit over thirty schools throughout the year.
This was achieved as a small, nimble and financially sustainable organisation, capable of raising and donating funds, delivering impact-led programs in partnership with with leading childhood cancer institutions in the UK, and creating wide-scale awareness for childhood cancer.
Cristian Parrino Chief Executive Officer The Azaylia Foundation
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AZAYLIA FOUNDATION
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Report of the Trustees
for the Year Ended 31 December 2023
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The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. 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).
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AZAYLIA FOUNDATION
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Report of the Trustees
for the Year Ended 31 December 2023
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## **ACHIEVEMENT AND PERFORMANCE Our Impact at a Glance (Historical)**
Total Donated £1,056,677
Institutional Donations (Research, Talent & Equipment) £985,284
Individual Treatment Donations £163,812
## **Fundraising**
For the period of this report, The Azaylia Foundation raised £215,182 in donations. Approximately 83% of funds donated to the foundation in 2023 were from individual giving and community fundraisers, 10% from corporate and brand giving, and 7% from school fundraisers.
All funds raised were unrestricted donations which can be used by The Azaylia Foundation to cover operating expenses and to further its mission and charitable purposes.
## **Donations**
The Azaylia Foundation considers both institutional and individual treatment donations.
Institutional donations are how we generate the highest impact in terms of advancing research across prevention, early diagnosis and the availability of new treatments, as well as increasing the number of specialised doctors in the UK - and ultimately is our opportunity to save as many children's lives as possible. In 2023, our institutional donations were exclusively channelled via our Azaylia Childhood Cancer PhD programme. For the period of this report, The Azaylia Foundation committed an additional £381,705 in institutional donations, and paid out £170,874. This is because for our Azaylia Childhood Cancer PhD Fund, our donations are usually paid out as follows: tranche 1 at PhD candidate appointment; tranche 2 at PhD candidate 1st year report; tranche 3 at PhD candidate final report.
Individual treatment donations are a core part of our approach to give hope to families who have exhausted their options via the NHS and whose children have been accepted for treatment not funded by the NHS. During the period of this report, The Azaylia Foundation donated £35,717 towards individual treatment.
## **Operating Expenses**
For the period of this report, our operational expenditures were £176,382. These include the costs of the CEO, the Community and Social Media Manager, the PR agency and the IT infrastructure.
Activities associated with the foundation, including but not limited to our founders' challenges, school visits and other activities which raise funds and awareness for the foundation, have never borne any cost to the foundation as those were taken on directly by our founders and the sponsors they work with in their personal capacity.
None of our trustees, including our founders Safiyya Vorajee and Ashley Cain, receive a salary, any form of income or financial benefit from the foundation.
## **Our Work**
The Azaylia Childhood Cancer PhD Scholarships. Launched in September 2022, the Azaylia PhD has the ambition to create the next generation of leaders in childhood cancer by offering fully funded PhDs in paediatric oncology, in partnership with leading UK universities and hospitals. This program is our biggest opportunity to have a game-changing impact on childhood cancer as it attacks two problems:
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AZAYLIA FOUNDATION
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Report of the Trustees
for the Year Ended 31 December 2023
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- 1) The lack of research in prevention, early diagnosis, and new treatments for childhood cancer, and;
- 2) The lack of new talent specialised in childhood cancer.
In this period, we launched a highly visible campaign in support of The Azaylia Childhood Cancer PhD Scholarships, we saw our first Azaylia PhD candidate begin her programme at Oxford University, our first two Azaylia PhD candidates with Birmingham Children's Hospital and The University of Birmingham were appointed and will be starting their programmes in 2024, and we committed to an additional two PhD scholarships with both organisations - bringing our all time total to 5 Azaylia PhDs funded in just over a year.
Wear Orange for Azaylia. Our non-uniform days in schools are designed to promote kindness, mutual support and inclusivity amongst students, while at the same time raising awareness amongst parents and teachers on the systemic flaws and underfunding in childhood cancer. The Azaylia Foundation provides schools with the materials and information required to run a successful WOFA day, and our founder Safiyya Vorajee aims to visit as many participating schools as possible. In this period, over 30 schools held a WOFA day, raising over £12,000.
Ashley Cain's Challenges. Our founder Ashley is an ultra-athlete who regularly takes on physically and mentally draining challenges as a way to cope with the grief from losing his baby daughter, while turning that grief into positive action in raising awareness and funds for childhood cancer. These challenges regularly receive mainstream media attention and are a wonderful opportunity to educate the public on the systemic flaws and underfunding in childhood cancer. During the period of this report, Ashley independently organised and funded Let's Go Soccer in March, the Yukon 1000 in July, and Azaylia for Our Children on Christmas Day.
## **Risks**
The cost of living crisis hitting the majority of households in the UK and around the world will inevitably impact our individual giving funding source.
During the period of this report, we saw an increase in donation subscription cancellations which have been directly linked to lower income changes and cost of living rising. In 2023, we mitigated this risk by diversifying our funding sources leading to an increase in school and corporate donations, and independent fundraising events.
The bipartisan support for accelerating NHS privatisation and its eventual impact on duty of care, service quality, infrastructure quality, specialised talent and research.
We are monitoring legislation that favours outsourcing to private organisations that prioritise profit over duty of care and whether this leads to lower service quality and to an eventual increase in health services requiring payment from the public.
We are monitoring the downward pressure on the salaries of NHS doctors, nurses and staff, and how this, combined with increased workloads, is potentially leading to a large exodus of key talent abroad.
We are monitoring the steady lowering of NHS yearly budget increases and how this impacts funds available for research, infrastructure and specialised talent. We are also monitoring how this steady lowering of yearly budget increases will facilitate the sell-off of public assets that prioritise duty of care, to private organisations that prioritise profit.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The Charity is controlled by its governing document, a deed of trust and constitutes a Charitable incorporated organisation.
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AZAYLIA FOUNDATION
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for the Year Ended 31 December 2023
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## `Report of the Trustees`
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1195195
## **Principal address**
61 Bridge Street Kington HR5 3DJ
## **Trustees**
DR A ROY DR F MUSSAI S VORAJEE A T CAIN
## **Independent Examiner**
Tally Lucas Associates Chartered Certified Accountants Unit 1 Alexander Charles House Station Passage South Woodford E18 1JL
## **Chief Executive Officer**
Cristian Parrino
Approved by order of the board of trustees on 11 October 2024 and signed on its behalf by:
S VORAJEE - Trustee
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Independent Examiner's Report to the Trustees of
AZAYLIA FOUNDATION
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## **Independent examiner's report to the trustees of AZAYLIA FOUNDATION**
I report to the charity trustees on my examination of the accounts of AZAYLIA FOUNDATION (the Trust) for the year ended 31 December 2023.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
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 accounts to be reached.
Faizul Hoque FCA, FCCA
Tally Lucas Associates Chartered Certified Accountants Unit 1 Alexander Charles House Station Passage South Woodford E18 1JL
11 October 2024
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Statement of Financial Activities
for the Year Ended 31 December 2023
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|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**EXPENDITURE ON**
**Initial setup and other operating**
**expenses**
Other trading activities
**Charitable activities**
Individual Treatment
Institutional grants
Other Gifts
Other
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Period
16.7.21
Year Ended
to
31.12.23
31.12.22
`Unrestricted`
`Total`
`fund`
`funds`
£
£
215,182
1,811,079
152,608
450,118
152,608
450,118
35,717
128,095
170,874
301,896
2,064
3,355
2,753
24,336
364,016
907,800
(148,834)
903,279
903,279
-
754,445
903,279|Period
16.7.21
Year Ended
to
31.12.23
31.12.22
`Unrestricted`
`Total`
`fund`
`funds`
£
£
215,182
1,811,079
152,608
450,118
152,608
450,118
35,717
128,095
170,874
301,896
2,064
3,355
2,753
24,336
364,016
907,800
(148,834)
903,279
903,279
-
754,445
903,279|
|---|---|---|
|||450,118|
|||450,118
128,095
301,896
3,355
24,336|
|||907,800|
|||903,279
-|
|||903,279|
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The notes form part of these financial statements
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## `Balance Sheet`
## `31 December 2023`
|31.12.23
`Unrestricted`
`fund`
Notes
£
**CURRENT ASSETS**
Cash at bank
755,645
**CREDITORS**
Amounts falling due within one year
4
(1,200)
**NET CURRENT ASSETS**
754,445
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
754,445
**NET ASSETS**
754,445
**FUNDS**
5
Unrestricted funds
754,445
**TOTAL FUNDS**
754,445|31.12.22
`Total`
`funds`
£
925,368
(22,089)
903,279
903,279
903,279
903,279
903,279|
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 11 October 2024 and were signed on its behalf by:
S VORAJEE - Trustee
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The notes form part of these financial statements
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AZAYLIA FOUNDATION
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Notes to the Financial Statements
for the Year Ended 31 December 2023
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## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Taxation**
The charity is exempt from 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.
## **2. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the period ended 31 December 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the period ended 31 December 2022.
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Notes to the Financial Statements - continued
for the Year Ended 31 December 2023
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## **3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
||||||`Unrestricted`|
|---|---|---|---|---|---|
||||||`fund`|
||||||£|
||**INCOME AND ENDOWMENTS FROM**|||||
||Donations and legacies||||1,811,079|
||**EXPENDITURE ON**|||||
||**Initial setup and other operating**|||||
||**expenses**|||||
||Other trading activities||||450,118|
||||||450,118|
||**Charitable activities**|||||
||Individual Treatment||||128,095|
||Institutional grants||||301,896|
||Other Gifts||||3,355|
||Other||||24,336|
||**Total**||||907,800|
||**NET INCOME**||||903,279|
||**TOTAL FUNDS CARRIED FORWARD**||||903,279|
|**4.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||||
|||||31.12.23|31.12.22|
|||||£|£|
||Other creditors|||1,200|22,089|
|**5.**|**MOVEMENT IN FUNDS**|||||
|||||`Net`||
|||||`movement`|`At`|
|||`At`|`1.1.23`|`in funds`|`31.12.23`|
||||£|£|£|
||**Unrestricted funds**|||||
||General fund|903,279||(148,834)|754,445|
||**TOTAL FUNDS**|903,279||(148,834)|754,445|
||Net movement in funds, included in the above are as follows:|||||
|||`Incoming`||`Resources`|`Movement`|
|||`resources`||`expended`|`in funds`|
||||£|£|£|
||**Unrestricted funds**|||||
||General fund|215,182||(364,016)|(148,834)|
||**TOTAL FUNDS**|215,182||(364,016)|(148,834)|
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Notes to the Financial Statements - continued
for the Year Ended 31 December 2023
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## **5. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|`Net`
`movement`
`At`
`in funds`
`31.12.22`
£
£
903,279
903,279
903,279
903,279|
|---|---|
Comparative net movement in funds, included in the above are as follows:
||`Incoming`|`Resources`|`Movement`|
|---|---|---|---|
||`resources`|`expended`|`in funds`|
||£|£|£|
|**Unrestricted funds**||||
|General fund|1,811,079|(907,800)|903,279|
|**TOTAL FUNDS**|1,811,079|(907,800)|903,279|
## **6. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2023.
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AZAYLIA FOUNDATION
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Detailed Statement of Financial Activities
for the Year Ended 31 December 2023
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|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Total incoming resources**
**EXPENDITURE**
**Other trading activities**
Initial Setup Costs
Consultancy fees
**Charitable activities**
Other gifts
Grants to institutions
Grants for individual treatment
**Support costs**
**Management**
Postage and stationery
Travel expenses
**Information technology**
IT expenses
**Governance costs**
Auditors' remuneration
Accountancy and legal fees
Recruitment expenses
Total resources expended
**Net (expenditure)/income**|Year Ended
31.12.23
`£`
215,182
215,182
697
151,911
152,608
2,064
170,874
35,717
208,655
113
-
113
1,440
-
1,200
-
1,200
364,016
(148,834)|Period
16.7.21
to
31.12.22
`£`
1,811,079|
|---|---|---|
|||1,811,079
258,433
191,685|
|||450,118
3,355
301,896
128,095|
|||433,346
-
131|
|||131
3,063
4,800
1,942
14,400|
|||21,142|
|||907,800|
|||903,279|
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This page does not form part of the statutory financial statements
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