THE EDWINA MOUNTBAThEN & LEONORA CHILDREN'S FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 CHARITY NO. 228166 Osaffery
THE EDWINA MOUNTBAThEN & LEONORA CHILDREN'S FOUNDATION CONTENT5 Page Legal and administrative information Report of the Trustees Independent Auditors, report to the Trustees Statement of financial activities io Balance sheet li Note5 to the financial statements 12-18
THE EDWINA MOUNTBATTEN & LEONORA CHILDREN'S FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trustees The Rt.Hon. The Counte55 Mountbatten of Burma (Chairman) Lady Mary Fagan DCVO JP The Lady Alexandra Knatchbull Peter Mirnprlss Esq CVO Mr Myrddln Rees FRCS DL Hon. Secretary Richard Jordan-Baker Princlpal office The Estate Office Broadlands Romsey Hampshire 50519ZE Auditors Saffery LLP Midland House 2 Poole Road Bournemouth Dorset BH2 5QY Bankers C Hoare & Co 37 Fleet Street London EC4P 4DQ Investment Advisors Cazenove Capital Management Limited 12 Moorgate London EC2R 6DA
THE EDWINA MOUNTBAThEN & LEONORA CHILDREN'S FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 310ECEMBER 2023 The trustees present their report along with the financial statements of the charity for the year ended 31 December 2023. Structure, Eovern?nce and management The Edwina Mountbatten & Leonora Children's Foundation is an unincorporated trust, constituted under a trust deed dated 9th September 1960, and is a registered charity, number 228166. Objectives and activities The Charity Commission approved the merger of The Edwina Mountbatten Trust and The Leonora Children's Cancer Fund, and the hdoplion of the working title of The Edwina Mountbatten and Leonora Children's Foundation in 2009. A formal change of name took place to adopt the working title as the name of the Charity in February 2014. The Edwina Mountbatten Trust Was set up as a permanent memorial to Edwina, Countess Mountbatten of Burma, and had as its objectives the furtherance of causes for which she worked. The Leonora Children's Cancer Fund was established to perpetuate the memory of Leonora Knatchbull, the great granddaughter of Edwina, who died of cancer as a child, and had as its objectives the improvement of treatment for child canter and the care of children with cancer. The merger took place on the I, january 2010, and incorporates the original objectives and activities of both charities, these being the relief of sick, distressed or needy children in any part of the world, the promotion of the art and practice of nursing, the 5UPPOrt of nurses caring for children suffering from cancer, the furtherance of primary research into cause of Paediatric cancer, and also the support of such other charitable purpose5 as the Trustees shall from time to time decide. The trustees shall hold both capital and income of the Charity to apply the same for such exclusively charitable purposes according to the law of England as the Trustees shall in their absolute discretion think fit. The Trustees confirm that they have referred to the guidance contained in the Charity Commission's 8eneral guidance on public benefit when reviewing the Fund's aims and objectives and in planning future activities. Trustees The trusteeswho have Seed during the yearand since the yearend are set outon Page l. Trustees are appointed by the Board of Trustees. There must be at least two trustees but there is no limit to the number of new or additional trustee5 who may be appointed. The trustees meet annually to review applications, approve grants and review investment performance. The day to day administration of the grants and the processing and handling of applications prior lo consideration by the trustees is delegated to the Trust Secretary. Induction procedure5 are in place for any newly appointed trustee and include an information pack comprising brief history of the Trust, copy Board minutes, the last three years, of annual reports and accounts, a copy of the governing trust deed and a copy of the Charity Commission's guidance "The Essential Tru5tee'. What you need to knorf. Achievements and performance An analysi5 of total Èxpenditure can be found in note 4 to the Financial Statements. Note 5 gives a brief summary of how each grant supports the objective5 of the Trust.
THE EDWINA MOuNTBAEN & LEONORA CHILDREN'S FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023 (continued) Monltorlng achievement Organisations are required to submit a report about their project or work which has been funded by the Foundation. This is to ensure that the Foundation is achieving it's objectives as Set out on page 2, that the charities to which it provides grants are appropriate, that those charitie5 are achieving their objective and that there is POSltive help to beneficiaries. The reports are reviewed at the annual Trustees Meeting. Rlsk management The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems are established to enable regular review so that any necessary step5 can be taken to lessen these risks. The Charity generates most income from investing its cash balances so the Trustees consider the loss of investment income to be a financial risk. This risk is increased due to the impact of the cost of living crisis on the stock market. The risk is mitigated by retaining expert investment managers, having a dlversified investment portfolio and regularly reviewing that portfolio. Grant making policies The charity receives applications from a wide range of charitable bodies In the field of healthcare and nurslng- many of these charitie5' activities are outside the guideline5 Stated above. Grants are usually made to UK based charitie5, (although their work can be worldwidel to ensure proper monitoring. Details of the grants made in the year are detailed in note 5. Details of how to apply for grants can be obtained from the Trust Secretary. Financial review Incoming resources totalled £164,878 12022.. £103,810) and resources expended on charitable actlvities amounted to £253,23312022.' £227,372) resulting in net outgoing resourtes of £88,35512022.. E123,5621. Grants to charitable organisation5 amounted to £214,00012022.. £190,545). At the year end the general fund balance amounted to £6,837.20912022= £6,663,452) and the restricted fund balance amounted to £15,78412022.' £nlll. Investment income this year was higher than last year, showing improvement despite the impart of the global economy on investment returns. This year has seen a small increase in the value of investments, though they remain lower than the previous few years. Last year saw a significant decrease in the value of Investments, due to global economic uncertainties. The trustee5 continue to be advised by Cazenove Capital Management Limited. Further investments will be made on the advice of Cazenove. The chariws investments consist mainly of charity income and growth units and future charitable expenditure is expected to match income. Reserves Poliry The trustees aim to spend the income received from the investment portfolio within the year of receipt and therefore does not hold any free reserves on top of the investment portfolio. At the year end the funds held by Cazenove Capital Management Limited totalled £6,810,75812022.. £6,658,8021. Any resee5 in excess of the investment portfolio are due to be used to satisfy the objects in the following year.
THE EDWINA MOUNTBAThEN & LEONORA CHILDREN'S FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED IIST DECEMBER 2023 {continued) Fundraising The Edwina Mountbatten and Leonora Children's Foundation does not engage in fundraising with the general public. It explicitly does not undertake any fundraising campaigns via email or direct mail and does not engage in cold-calling. As a registered charity, it can accept donations from those wishing to support it5 work, but it does not actively seek them. Any offers of financial support for the Trust's work are initiated by the donor and the Trust will not share information about donors or potential donois and never put anyone under pressure to donate funds. Statement of trustees, responsibilitie5 for the annual 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 Iunited Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 IFRS 1021. The law opplicable to charities in England & Wales 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 charity and of the incoming resoLtrces and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them con5iStentlv,' observe the rnethods and principle5 in the Charities SORP.. make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disc105ed and explained in the financial statements- and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial p051tion of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the tharity and hence for taking reasonable Steps for the prevention and detettion of fraud and other irregularities. Investment policy The policy of the trustees is to invest to provide a consistent stream of income from a portfolio of unit trusts designed to protert the funds from the long term effect5 of inflation. In accordance with the Trusvs accounting policies. investments are stated at market value at the balance sheet date. The investment advisers confirm there has been no material permanent diminution in the value of the Tru5t'5 investments. Key management personnel remuneration The trustees consider the bo3rd of trustees and the Honourable Secretary as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All trustees give of their time freely and no trustee remuneration was paid in the year. Details of trustee expenses and related party transactions are disc105ed within notes 4 and 10 to the accounts.
THE EDWINA MOUNTBATTEN & LEONORA CHILDREN'S FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023 (continued) Auditors A resolution to re-appointment Saffery LLP as auditors will be proposed at the forthcoming Trustees, Meeting. On behalf <rf the board of trustees THE RT.HON. THE C Trustee NTESS TBATT OF BURMA 18 April 2024
THE EDWINA MOUNTBArrEN & LEONORA CHILDREN'S FOUNDATION INDEPENDENT AUDITORS, REPORT TO THE TRUSTEE5 Oplnlon We have audited the financial statement5 of The Edwina Mountbatten and Leonora's Children Foundation for the year ended 31 December 2023 which comprise The Statement of Financial Activities, Balance Sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102. the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial 5tatements'. give a true and fair view of the state of the charitvs affairs as at 31 December 2023 and of its incoming resources and application of resources for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice- and have been prepared in accordance with the requirements of the Chorities Act 2011. Bas15 for opinion We conducted our audit in accordance with International Standards on Audlting IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirement5 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 auditifig the financial statements, we have concluded that the tru5tees' use of the going concern basi5 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 ever)ts or condition5 that, individually or collectively, may cast significant doubt on the charity'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 responsibilitie5 and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The trustees are responsible for the other information. The other information comprises the information included in the annu31 report, other than the financial statements and our auditorf5 report 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.
THE EDWINA MOUNTBArrEN & LEONORA CHILDREN'S FOUNDATION INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES (continued) Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent wlth the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detemilne whether this gives rise to a material misstatement in the financlal statements themselves. If, based on the work we have performed, we conclude that there is a material mi55tatement of this other information: we are required to report that fact. We have nothinE to report in this regard. Matter5 on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Report51 Regulations 2008 require us to report to you if, in our opinion: the information given in the Trustees, Annual Report is inconsistent in any material respect with the financial statements- or the charity has not kept sufficient accounting record5,' or the financial statements are not in agreement with the accounting records and returns- or we have not received all the information and explanations we require for our audit. Responsibilltles of trustees As explained more fijlly in the Trustees, Responsibilities Statement set out on page 4, the trustees 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 statemellts, the trustees are responsible for assessing the charity5 ability to continue as a going concern, disclosing, as applicable. matters related to going concern and using the going concern bas15 of accounting unle55 the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Auditors, responsibllltles for the audit of the financial statements We have been appointed as auditors under the Charitie5 Act 2011 and report in accordance with regulations made under that Act. Our objective5 are to obtain reasonable assurante about whethÈr the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors, report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conijucted in accordance with ISAS IUKI 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.
THE EDWINA MOUNTBAThEN & LEONORA CHILDREN'S FOUNDATION INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES (continued) Irregularitie5, including fraud, are instances of non-compliance with laws ènd regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specif1c procedures for this engagement and the extent to which these are capable of detecting irregularities. includlng fraud are detailed below. Identifying and assessing risks related to irre8ularities= We assessed the suxeptibility of the charitvs financial statements to material misstatement and howfraud might occur, Including through discussions with the trustees and other persons charged with governance, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the charity by discussion5 Wlth trustees and updating our understanding of the sector in which the charity operates. Laws and regulations of direct significance in the context of the charity include the Charities Act 2011, the Charities (Accounts and Reports) Regulation5 2008 and guidance issued by the Charity Commission for England and Wales. Audit response to risks identified.. We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financi315tatement disclosures. We obtained confirmation there were no breaches of laws and regulations. We reviewed the Charity's minutes of meetings and decisions, and correspondence with relevant authoritie5 to identify potential material misstatements arising. During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with law5 and regulations or knowledge of any actual, suspected or alleEed fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and establishinE there were no significant transactions that were unusual or outside the normal course of busine55. We established that there are no accounting estimates requiring the use of judgements that could involve management bias. At the completion stage of the audit, the engagement partnels review included ensuring that the team had approached their work with appropriate professional sceptlC15m and thus the capacity to identify non-compliance with laws and regulations and fraud. There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. A further description of our responsibilities 15 available on the Financial Reporting Council's website at- www.lrc.or .uk auditorsres onsibilitie5. Thi5 description forms part of our auditor's report.
THE EDWINA MOUNTBArrEN & LEONORA CHILDREN'S FOUNDATION INDEPENDENT AUDITORS, REPORTTO THETRUSTEES (continued) Use of our report This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Attounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the trustees those matters we are required to state to them in an auditorfs 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 charity and the trustees as a body. for our audit work, for thi5 report, or for the opinions we have formed. Saffery LLP Chartered Accountants Statutory Auditors 18 April 2024 Midland House 2 Poole Road Bournemouth Dorset BH2 5QY Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006
THE EDWINA MOUNTBATTEN & LEONORA CHILDREN'S FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 310ECEMBER 2023 Unrestrirted funds Restrlrted funds Total 2023 Total 2022 Note Income., Donations arbd legacie5 Investment income 2,227 146,867 15,784 18,011 146,867 3,924 99,886 Total income 149,094 15,784 164.878 103,810 Expenditure: Charitable activities 253,233 253,233 227,372 Totsl expenditure 253,233 253,233 227,372 Net expenditure and net movement in funds before gains and losses on investments Net gains on investment assets 1104,1391 15,784 188,355 1123,5621 277,896 277,896 1554,2931 Net movement In funds 173,757 15,784 189,541 1677,8551 7,341,307 Total funds brought forward 6,663,452 6,663,452 Total funds carried forward 6,837,209 15,784 6,852,993 6,663,452 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 12 to 18 form part of these financial statements. io
THE EDWINA MOUNTBATTEN & LEONORA CHILDREN'S FOUNDATION BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Note Fixed assets Investments 6,655,989 6,405,951 Current assets Cash at bank Cash held by investment managers Debtors 27,296 154,769 30,537 19,300 252,851 212,602 272,151 Liabilities Creditors- amounts falling due within one year 15,598 14,650 Net current assets 197,(XJ4 257.501 Net assets 6,852,993 6,663,452 Thefunds ofthe charity: Restricted funds 15,784 Unrestricted funds.. General fund 6,837.209 6,663,452 Total funds 6,852,993 6,663.452 The notes on pages 12 to 18 form part of these financial statements. These financial statements were approved by the Board of Trustees on and signed on its behalf by: ThE RT.HON. THE COUNTESS MOUNTB Trustee N OF BURMA 18 April 2024 li
THE EDWINA MOUNTBATfEN & LEONORA CHILDREN'S FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 310ECEMBER 2023 Accounting policies Basls of preparation The financial statement5 have been prepared under the historic cost convention. The accounts (financial statements) 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 IFRS 1021 issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011 and UK Generally Accepted Practice as it applies from l January 2015. The accounts Ifinancial statements) have been p pared to give a 'true and fair, view and have departed from the Charities IAccounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view,. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 july 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from l April 2005 which has since been withdrawn. The Edwina Mountbatten & Leonora Children's Foundation constitutes a public benefit entity as defined by FRSIO2. The trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern. Golng concern Having reviewed the level of unrestricted reseNes together with investment values and current cash balances, the Trustees have a reasonable expectation that the Trust has adequate resources to continue its activitie5 for the foreseeable future. The recent economic climate has had an impact on the charity's investment intome although, as a grant making charity with few on-going commitmer)ts, thi5 will impact on the new grants that can be made in the short term rather than affecting the charit¢s ability to continue as a going concern. Accordingly, they continue to adopt the going concern basis in preparing the financial statements. Preparation of a cash flow statement The charity has taken the exemption provided in Update Bulletin l updating 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 IFRS 1021 allowing small charities not to prepare a cash flow statement. Fund accounting The charity has a single unrestricted general fund which the trustees are free to use for any purpose in furtherance of the charitable objeds. Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. The charity has a single restricted fund which is to be used in support of a mentoring program for blind children to provide guidance, support mental wellbeing, and confident social integratlDn towards associated administrative fees. 12
THE EDWINA MOUNTBAThEN & LEONORA CHILDREN'S FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies (continued) Income All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured lIablY. Donations, are recognised when the Trust ha5 been notified in writing of both the amount and settlement date. In the case of unsolicited donations this is usually only when they are received. Legacy gifts are recognised on a case by case basis following the granting of probate when the administratorl executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliable measurable with a degree of reasonable accuracy and the title to the asset has been transferred to the charity. Interest on funds held on deposit is included upon notification of the interest paid or payable by the Bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by our investment advisor of the dividend yield of the investment portfollo. All other income is accounted for under the accruals concept. Gifts in kind are valued at their estimated value to the charity- Expendlture Liabilities are recognlsed as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenses are accounted for on an accruals basis. Expenditure incurred in connection with the specific objects of the charity is intluded under the heading direct charitable expenditure. The irrecovefable element of VAT 15 included with the item of expense to which it relates. Support costs represent expenditure incurred in the general running of the charity,. these costs are fully attributable to charitable activitie5. Grants payable are charged in the year when the offer is conveyed to the recipient except in those ca5e5 where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Fixed asset investments Fixed asset investments are stated at market value at the balance sheet date. Gains and losse5 on investment5 both realised and unrealised are included in the statement of financial activities. Realised gains or losses are calculated as the difference between market value at the date of disposal and market value at the previous balance sheet date lor date of acquisition if later). Unrealised gains or losses are calculated as the difference between the market valve at the balance sheet date and the market value at the previous balance sheet date lor date of acquisition if later). 13
THE EOWINA MOUNTBAThEN & LEONORA CHILDREN'S FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2023 Accounting policies Icontinuedl Cash at bank and in hand Cash at bank and tash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acqvisltion or openirbg of the deposit or similar account. Credltor5 Creditors are recognised where the Trust has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due. Financial instruments The Trust only has financial a55ets and financial liabilitie5 of a kind that qualify as basic financial instrument5. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Critical estimate and judgement5 and key sources of estimation uncertalnty In the application of the Charit(s accounting policies, the trustees are required to make judgements, estimate5 and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future period5 where the revision effects both current and future periods. There are no critical estimates, judgements or key sources of estimation Ltncertainty in 2022 or 2023. 14
THE EDWINA MOUNTBATfEN & LEONORA CHILDREN'S FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Income from donation5 and legacies Unrestricted funds Re5trirted funds Total 2023 Tolal 2022 Donations 2,227 15,784 18,011 3,924 Investment income 2023 2022 Dividends receivable Interest receivable 131,199 15,668 98,194 1,692 146,867 99,886 Charitable activities Note 2023 2022 Grants 214.000 190,545 Support costs Office costs Audit fee Investment Management Fee 6,300 4,848 28,085 39,233 3,150 29,231 36,827 Total charitable activities 253,233 227,372 The charity has no employees. However, a charge for administration costs is made by one of the trustees (see note 101. Trustees received no remuneration12022= Enill and were not reimbursed for any of their expenses12022: £nill except as disclosed in note 10. 15
THE EDWINA MOUNTBATTEN & LEONORA CHILDREN'S FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysis of total resources expended 2023 2022 Reg Charity No. 1149758 Ark Cancer Charity To upgrade the chemotherapy unit at Basingstoke Hospital 10,000 Reg Charity No. 1167073 The Borne Foundation To support research into prevention of premature births 30,000 20,000 Reg Charlty No.1067238 Brecknock Hosplce To support home based care 30,000 40,000 Reg Charity No. 115th)54 The Braln Tumour Charity To support research into children's medulloblastoma iO,OOD Reg Charity No. 220949 British Red Cr055 Ukraine Qisls Appeal To provide humanitarian aid to those affected by the war in Ukraine 10,000 Reg Charlty No. 1123304 Countess Mountbatten Hospice Charity Ltd To support provision of medlcal care for patients General funds to eye cancer project io,cK)o Glft of Sight io,ocxJ 14,045 Reg Charity No. 275637 Inter¢are- Aid for Africa To support sendlng medical aid to Africa 5,CKJO 5,000 Reg Charity No. 1158697 Legs4Africa Funds to save prosthetic legs from landfill support amputees in Africa 5,000 Reg Charity No. 1140471 LOOK To support young visually impaired people 60,OCMJ 70,000 Reg Charity No. 1139527 St John Jerusalem Eye Hospital Donation to general funds 44,000 31,500 214,000 190.545 16
THE EOWINA MOUNTBATTEN & LEONORA CHILDREN'S FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Reconciliation of grants payable 2023 2022 Grants unpaid at 1st January 2023 Grants made in year Grants paid in year Grants cancelled in year Grants unpaid at 31st December 2023 214,000 1214,0001 190,545 1190,5451 Fixed assets UK listed investment5 2023 2022 Market value at 1st January 2023 Additions to investments at cost Sale proceeds Profit on disposal Net gain on revaluation Market value at 31st December 2023 6,405,951 1,165,536 (1,193,394) 133,287 7,207,816 1,734,160 11.981,7321 383,702 1937,9951 6,405,951 144,609 6.655,989 Historic cost Net unrealised gains on investments included above 5,517,002 1,138,987 6,655,989 5,411,573 994,378 6,405,951 Debtors 2023 2022 Accrued income 30,537 30,537 Credltors: amounts falling due within one year 2023 2022 Accruals 15,598 15,598 14,650 14,650 17
THE EDWINA MOUNTBATfEN & LEONORA CHILDREN'S FOUNDATION NOTE5 TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 io Connected parties £4,50012022.. £4,200) including VAT, of the administration costs are provided at tost by an administration office controlled by one of the trustees, The Rt.Hon. The Countess Mountbatten of Burma, The trustees consider the charge to be c05t effective and less expensive than other altef natives. At the balance sheet date, £4,5(K)12022: £4,2001 was owed to a connected party controlled by one of the trustees, The Rt.Hon. The CoLtntess MDuntbatten of Burma. li Analysis of net assets between funds Unrestrirted funds Restricted funds Totsl 2023 Tangible fixed assets Current assets Current lièbilitie5 6,655,989 196,818 15,598 6,837,209 6,655,989 212,602 15,598 6,852,993 15,784 15,784 18