THE A%OCIATION FOR P05r-NATAL ILLNESS
FINANCIAL STATEMENt5
FOR THE YEAR ENDED 31 MARCH 2023
BOYDELL & CO
Chartered Accouiitaiits
146B Chiswick High Road
London
W4 IPU
Registered Charity nUm￿r. 280510

CONTENTS
Report of the Trustees
Investment policy statement
Auditors, report
11-14
Statement of financial activities
15
Balance sheet
16
Statement of cash flows
17
Notes to the accounts
18-23

THE ASSOCIATION FOR posr-NATAL ILLNESS
ANNUAL REPORT OF THE TRusfEES
LEGAL AND ADMINISTRATIVE DETAILS
The Association for Post-Natal Illness is an unincorporated association, and its Governing
Document is its Rules adopted on 30 June 1980. The Association obtained charitable status
under Section 4 of the Charities Act 19f￿) from the Charity Cornmissioners on 4 August 1980
under registration number 280510.
Registered office-
145 Dawes Road
Fulham
London
SW6 7EB
Bankers:
CAFCASH Ltd
Kings Hill
West Malling
Kent
ME19 4TA
HSBC Bank PIC
593-599 Fulham Road
London
SW6 SUA
National Westminster Bank PIC
67 High Street
Sevenoaks
Kent
TN13 IJY
Investment Manager:
Adarn aiid Coinpany
40 Princes Street
Edinburgh
EH2 2BY
Auditors..
Boydell & Co
Statutory Auditors and Chartered Accountants
146B Chiswick High Road
Londoii
W4 IPU

THE AWCIATION FOR POST-NATAL ILLNESS
ANNUAL REPORT OF THE TRUSTEES
CONTINUED
Ob'ects of the Association
The relief of women suffering from post-natal depression or conditions of severe or prolonged
depression or related illness arising from pregnancy which threatens their mental or physical
health or emotional stability and the promotion of research into post-natal depression or illness
and the dissemination of the results thereof.
Review of Activities
The Association's current membership comprises 485 volunteers and 20 depressed mothers
receiving support. There are 956 paid up members of the supporters. scherne. During 2022, 22
mothers became well asain and no longer needed volunteer support. The Association offers
support via e-mail and at present over 460 volunteers are willing to provide this valuable
source of help.
The Association receives between 2-5 letters per week aloiig with 3- 6 phone calls per day and
5- 10 e-mai15 per day depending on publicity in the media. During the year there were 17
people who used the live Chat facility we offer. The APNI has 1,374 followers on Instagram aiid
our Facebook page has 1.800 followers. Siobhan posts on these sites and the posts are cheering
and positive. Jenny Weeks wrote the Autumn 2022 newsletter that was sent to our metnbers.
The office is staffed by Siobhan Merrifield, Jenny Weeks. All￿ Hutton and Margie Smith. Alice
Hutton does all the bookkeeping for the charity and contacts the Just Giving donors. The staff
have mainly been working remotely durins this year. Diane Nehme works from her home. The
staff can remotely access the APNI email and answer the phone. Siobhan has kindly visited the
offtce to ensure all is well and pick up post.
Mr ana Mrs
e's Charitable Settlement
In April, July and October 2022 the Trustees generously donated £5,(K)O for our core costs. The
total donated during this financial year was £15.0(K).
These geiierous donations from Mr and Mrs J.A. Pye's Charitable Settlement have made a very
positive difference to the work of the organisation throughout the year.
We have been advised by the Trustees that they will iiot coiitinue to doiiate on a quarterly basis
to the Association after the transfer of funds from the Pye Charitable Trust to the Association
for Post-iiatal Illiiess account with an Investment firm nominated by the Pye Trustees. We were
informed that the Pye TTUStees would consider giving further funding to the Association if they
felt it was needed.
The Pye Charitable Trust has been a pivotal donor to the WOTk of the APNI since 1985. It is
unlikely that the Association would still be functioning without the fiiiaiicial support of the
Trustees over 38 years.

THE ASSOCIATION FOR POST-NATAL ILLNE
ANNUAL REPORT OF THE TRUSTEFS
CONTINUED
Mr Craham Christo
her
eLe
In the spriiig of 2022 we were iirformed that the Trustees of Graham C. Pye's
Legacy had decided that we should receive the total amount of the legacy on coiidition that this
sum (£1.4 million) was tnvested with the same Investment firm used by The Pye Charitable
Trust.
Our Committee were then tasked with creating a Finance Sub-committee which could liaise
with the Investment firm, and also to create a bespoke Investment Policy Statement which
would comply with the rules and regulations of the Charity Commission.
The Finance SuL>Committee was formed and a new Investrnent Policy Statement was adopted
with the full support of the Committee of the organisation.
Once these matters had been arranged the Trustees were informed and on 24th November 2022
the investment firm, Canaccord Cenuity reported that the funds (£1.4 million) had been
received into the account that had been created with them for The Association for Post-natal
Illness.
Our contact with the fund is Mr Tim Wishart who works for a subsidiary of the main compaiiy
called Adam aiid Company.
TheD
ers, Com
Charitable Trust
In March 2023 we received £2,0(K) from the Dyers. Company Charitable Trust.
We are very grateful to the Worshipful Colnpany of Dyers, for this very generous donatioii aiid
for their Support which has assisted our work for many years.
an
In Memo
Donations
Mr David Hamblett gave £250 in memory of his wife Sheila Hamblett who worked for APNI for
many years.
In November 2022 we received £277.59 in memory of Mrs Edna Jury. Roger and Clare Delpech
had earlier attended the funeral of Mrs Jury who had, over several decades, raised inoi)ey for
The Association by giving talks about musical theatre. Mrs Jury never accepted a fee for these
talks but would ask for a donation to be made to our organisation instead. She raised many
thousands of pounds in this way and was a wonderful supporter of our work. Edna's daughter
Sue Dilworth sang, most beautifully, at her mother's funeral.
Mrs Jury was a remarkable woman aiid will be missed by many people as well as her family
and frieiids.
onsored Event
Thaiik you to <111 these generous people who have raised money for APNI, often by completing
amaziiig personal challenges.
This year Foxlake Adventures Ladies Night bake sale on the 22JMI August 2022
raised £175.00.

THE ASSOCIATION FOR POST-NATAL ILLNFSS
ANNUAL REPORT OF THE TRUSfEES
CONTINUED
orters Scheme
Ii) aulunui 2022 we sent a letter to Supporters saying that we understood if they did not feel
able to make their annual donation of £5 due to the great increase in the cost of living. Iii
response our Supporters donated the huge sum of £5.782 from November 2022 to the end of
January 2023. Among these generous people Robert and Lynette Craig donated £1,500.
Dominique Taillandier gave £50. Martin and Christine Keiffer save £200, Julie Vile gave £500,
Mrs Eileen Blood gave £100. Andrew and Donatella Dickson gave £150. J. Wheeler gave £lOO.
Mr B. Dalby gave £100, K. Wells save aOO. Mr J. Whitehead gave £l(X).
Mr B. Chapperlin gave £50. Mrs Jackie Da Costa gave £30. Mis Miriam Nicholls gave £50, Mrs
Sue Dilworth gave £50, F. Eustace gave £50. J. Newbury gave £50, M. Fulton gave £50 and
M. Tucker gave £50.
Covenant Donations
Many of our donors give a monthly amount and have been loyal supporters of the work of the
Association for years. We are deeply grateful to these donors for thetr highly valued regular
support.
These donors include Emma Stabler, Dr Jennifer Barna, Juliet Mahrous.
Jeff and Liz Robinson, Stephanie Ryland, Stella Giblett. Mrs Aiigela Crockatt,
Elizabeth Daeth, Elizabeth Taylor, Tony Churchill, Alison Wilson, Alison Rose,
Pamela Smith, Hilary Dale, Lucy Gibson. Johanna Broome, Matthew Evans and Rachel
Fenwick.
Fundraisin
Roger Delpech has continued to appeal to charitable Trusts on behalf of APNI. The donation
from The Dyers Company Charitable Trust was the result of his work. The Associatioii is very
grateful to Roger for his work in this competitive field.
Web Site
The Web site has proved to be very popular during the year. Total visits to the site during 2022
were 17,897 (17,654) There were 34,815 (28,777) pages viewed. The most popular pages are the
booklet Post-natal depression and Need Help Now.
Of the people who reach the site 64.8% came directly. 17% came via an Organic search such as
Google. 15.7 came by Referral from another site and 1.7% came via Social media such as
Facebook etc.
The Web site is updated with special information wheiiever possible particularly the home
Pcige. Fuiidraising events clnd photographs of eveiit partÈcipants are posted oli the website. Our
profound thanks to Richard HTndle of Webwax Ltd who maiiitaiiis the website.

THE ASSOCIATION FOR POST-NATAL ILLNESS
ANNUAL REPORT OF THE TRUSTEFS
CONTINUED
HMRC
No repayments were applied for, nor received. during this f￿anCIal period.
We receive Gift Aid automatically on donations made via Just Giving.
Publications
Our publications numbers are now improving and we have re-instated a procedure whereby all
new clients who give us a contact address are sent a free copy of the Post-natal Depression
booklet.
The Bab Blues and Post-natal De
ression
The new Baby Blues leaflet was launched early in 2020. Since then it has had to be altered
several times to take account of Covid-19 restrictions etc. A new version was produced in the
spring of 2022 acknowledging the generous support of Mr Graham Pye in providins this
publication either free or at very low cost.
Graham C.
e's Leaflet Pro
ect 2022-23
In September 2022 an advert15ement appeared in the Midwive5 Chronicle which offered
midwives a free supply of The Baby Blues. This is a leaflet with which many midwives are now
familiar. There was a further insertion in the same magazine which came out iii November
which was the Christmcis issue of the publication. Following the first appearaiice of the
advertisement 34,200 leaflets were ordered and distributed. After the second advertiseinent
9,200 leaflets were ordered and distributed. In total 43,400 leaflets weTe sent out to 29 different
addresses.
The project costs were the advertising cost £3,130 and the printing cost £4,086. The total cost of
the project was £7,216.
Post-natal De
ression
The long- awaited revised version of our booklet for depTessed mums entitled 'Post-natal
Depression, was published in July 2022. The text had gone live on the APNI website in May
2022. The language in the booklet has been modernised and is hopefully less didactic. The
word 'mums' has been substituted for 'mothers' throughout the publTcatioii.
Some alternative ther<ipies which have been approved by medical editors of earlier editions met
with c0115iderable opposition in this edition.
A client contacted our office and wrote in her email ' The description of PND on your 51te is the
most accurate portrayal I have read aiid feeling understood is such a big comfort when you're
ii) such a bad place. Just feeling very exhausted after 10 months of this and in iieed of any
support I can get. Thank you iii advance..

THE A￿cIATIoN FOR posr-NATAL ILLNESS
ANNUAL REPORT OF THE TRusfEES
CONTINUED
Database Pro
ect
Jeiuiy Weeks and Alice Hutton identified what was needed ￿ld iiiterviewed a number of
software prOdU￿rS on behalf of APNI. They chose Mr Tuppeny after much consultation about
this project. The new database seems to be working very well and we are indebted to Jenny aiid
Alice for their hard work on this project.
The main bulk of the work was done during March 2022 and cost £5,292. Following this there
were several matters which needed amending or changing on the database and these revisions
cost a further £2,376. The organisation needed to provide laptops to its staff plus a tower to
run the database from, this cost £3,103. Total costs to date are £10,771.
Publici
In March 2023 Metro digital newspaper made a video of Molly Mae (a social influencer) and
included the APNI as a credit at the end.
Meetin
s attended b APNI staff
On 6th December 2022 Margie attended a Newpin meeting in London.
On 23id February 2023 Alice and Margie attended a Wellbeing day held at Pirbright Ariny
Training Barracks in Surrey.
Siobhan has beeii attending moiithly Advanced Mental Health Equality Collaborative meetings
at The I£oyal Collese of Psychiatrists to give specialist advice to the working groups around the
country. Siobhan did an online talk with a Power Point presentatioii to student Midwives 011
16th February 2023.
The following were Trustees of the Associatioii for Post-Natal Illness and who held office
during the year 2022/23 as members of the Committee:
ProEessoT Vivette Glover
President
Mr David Clarke
Mr5 Clare Delpech
Mrs Diane Nehrne
Chairmaii
Treasurer
Secretary
Dr Raj Persaud
Mrs Liz Wise
Dr Victoria Farrow
Robert Evaiis
(appointed 27 July 2022)
On 31 July 2023 the Association's new registered address became:
1st Floor
Fulhain Park House
IA Chesiltoii Road
Fulham
Loiidon
SW6 SAA

THE ASSOCIATION FOR POST-NATAL ILLNESS
ANNUAL REPORT OF THE TRUSfEES
CONTINUED
STATEMENT OF TRUSTEFS, RFSPONSIBILITIES
Charity law requires the Trustees to prepare financial statements for each fiiiancial year which
give a true and fair view of the state of affairs of the Charity and of the result of the Charity Eor
that period. In preparing those financial statements, the Trustees are required to:
select suitable accounting policies and then apply them consistently
make judgements and estimates that are reasonable and prudent
state whether applicable accounting standards have been followed, subject to any
material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is iiiappropriate to
presume that the Charity will continue in business.
The Trustees are responsible for maintaÉning proper accounting records which disclose with
reasonable accuracy at any time the financial positions of the Charity and to enable them to
ensure that the fiiiancial statements comply with the Charities Act 2011. They are also
re.%poiisible for safeguarding the assets of the Charity aiid hence for takiiig reasonable steps for
the prevention and detection of fraud and other irregularities. The Trustees have adopted
Financial and Operational Procedures to provide guidelines to Trustees with regard to
managenient, control and reporting on the quarterly perlorrnance of the APNI. The Trustees
are respoiisible for the maintenance and integrity of the Charity aiid financial information
included on the Charity's website in accordance with legislation in the United Kingdom
governing the preparation and dissemination of financial statements.
Each of the persons who is a Trustee at the date of approval of this report confirms that, so far
as each Trustee is aware, there is no relevant audit iiiformation of which the Charity's auditOT is
unaware, and the Trustees have taken all the steps that they ought to have taken as Trustees in
order to make themselves aware of any relevant audit information and to establish that the
Charity s auditor is aware of that information.
The Board undertakes regular skills audits in order to identify gaps. Potential trustee.s are then
ideiitified and approached. All prospective trustees are iiiterviewed by the Chair who then
makes recommendations to the full Board. The APNI Board Trustees have the overall legal
responsibility for the Charity including the general control and managemeiit of the
adiniiiistration of the Charity. The organisation has a managemeiil team led by the Treasurer
who take day to day responsibility for all aspects of operational delivery of the Charity's work.
APNI'S Treasurer is respoiisible for HR and ensuring that its policies are reviewed on a regular
basis by the Board. All Trustees on appointment are issued with information relatiiig to the
history of the Charity and pointed to its policies and procedures. Trustees are also issued with
a copy of "The Essential Trustee"
informattoii provided by the Charity Commissioii.
On belalf of he Trustees
13 Flov
2023
Diane Nehmé
Secretary

THE A￿OCIATIoN FOR POST-NATAL ILLNFSS
INVESTMENT POLICY sfATEMENT
Introduction
1.1 The Association for Post-natal Illness is an unincorporated association, and its Governing
Document is its Objects and Rules adopted on 30 June 1980. The Association obtained
Charitable Status under Section 4 of the Charities Act 1960 from the Charity
Commissioners on 4 August 1980 under registratton number 280510.
1.2 The financial object of the As%)ciation is to fund its work offering advice, support and
information to women who suffer from post-natal depression.
1.3 The Trustees will delesate decision making relating to investment matters to The
Association Chairman and Treasurer plus one other Trustee advised by the Investment
Fund Maiiaser.
Investment Objectives
2.1 The Association seeks to produce the best financial return within an acceptable medium
level of risk.
2.2 The investment objective for the reserves is to generate a return of infiation plu5 3°% per
aniium over the long term, after expeiises. This should allow the Associatioii to at least
maintain the real value of the assets and to produce an incorne for the organisation.
Attitude to Risk
3.1 The key risk to the value of the assets of the Association is infiation. The assets
should
be invested to mitigate this risk over the long term. The Trustees understand that this is
likely to meaii that investment will be concentrated in real assets aiid that the capital value
will fluctuate.
3.2 Assets
The Association's assets can be invested widely and should be diversified by asset class
and by security. Asset classes could include bonds. equities, property, private equity and
commodities and any other asset that is deemed suitable for the charity.
The Association will retain some assets as Reserves which can be easily accessed in a
Deposit Account with Charities Aid Foundation. Some of these Assets may be iiivested iii
short term funds via CAF Charity Deposit Platform.
There may not ￿ any investment in any company involved with the developmeiit or
production of pharmaceutical products as this would coifflict with the Association's
Objects and Rules.
3.3 Currenc
The base currency of the investment portfolio 15 Sterliiis.
Liquidity Requirements
4.1 Income from the reserves will be paid to the charlty in quarterly amounts of £10,000 any
extra income can go to increase the assets of the Association.
4.2 Any assets required by The Association for Post-natal Illness will be paid only into the
Current Account of the charity.

THE ASSOCIATION FOR posr-NATAL ILLNESS
INVEsfMENT POLICY STATEMENT
CONTINUED
Time Horizon
5.1 following withdrawal of the quarterly income payments, it is anticipated that in most
years no further reserves will need to be realised.
Ethical Investment Policy
6.1 The Assockation has adopted an ethical investment policy to ensure that its investments do
not conflict with its Objects and Rules. It is hoped that the young women who are given
support will go on to live long and healthy lives.
6.2 The Association's ethical investment policy precludes direct or indirect investmeiit in
companies that have any connection with the productioii or sale of pharmaceutical drugs.
6.3 The Association's ethical investment policy precludes direct or indirect
investment in
any form of nuclear generated energy or the building of nuclear power plants.
6.4 The Association's ethical investment policy precludes direct or indirect
investment Èn
any business based in China, Russia, Japaii or North Korea. This relates to the violatioii OE
human rights in these countries.
Management, Reporting and Monitoring
7.1 The Association has appointed Adam and Company to manage the funds on a
discretionary basis, in line with the investment policy. The Association has nomiiiated a
list of authorised signatories, three of which are required to sign any instructions to the
investment manager.
7.2 The investment manager will provide the following information at the end of each
quarter. This will include valuation of investments, transaction report, performaiice
analysis and commentary.
7.3 The charity Chairman, Treasurer and one other Trustee have responsibility for agreeing
strategy and monitoring the invested assets. The charity Chairmaii, Treasurer and oiie
other Trustee will perform the role of the charity Finance Committee. The Finance
Committee will review the information provided by the iiivestment manager following
each report. The informatioi) given by the Investment manager on 31st March will be that
reported in the Annual Report and Accouiits of the Association.
7.4 No Trustee of the charity may serve on the Finance Comrnittee if they receive
paymelit froin the chcirity ii) another capacity.
7.5 Performance of the investment portfolio will be measured against infiatioii and its
investment objective.
7.6 If the charity ceases to function the invested assets shall ￿ returned to Mr Grahain C.
Pye's Will Trust or if this Trust has beeii fiiiali5ed. then to the Pye Charitable Settlemeiit.

io.
THE ASSOCIATION FOR P￿T-NATAL ILLNESS
INVFSTMENT POLICY STATEMENr
CONTINUED
Approval and Review
8.1 This Investment Policy Statement was approved by the full Committee of the Associatioii
for Post-natal Illness to provide a framework for the rnanagement of its reserves. This
Investment Policy will be reviewed on an annual basis to ensure continuing
appropriateness.
Apprni'ed by the Finance Commlttee
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INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF
THE ASSOCIATION FOR POST-NATAL ILLNESS
Opinion
We have audited the financial statements of The Association for Post-Natal Illness {the 'charitable
association,) for the year ended 31 March 2023. which comprise the Statement of Financial
ActLVlties, the Balance Sheet, the Statement of Cash Flows, and related notes, 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, including
Financial Reporting Standard 102 tlie Fiiifincifil Reporting Stundord fipplicable in tlie UK and Republic of
Ireland {United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
give a true and fair view of the state of the charitable association's affairs at 31 March 2023 and
of its incoming resources and applications of resources, including its income and expenditure,
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 Charities Act 2011 together with the Charities SORP
(FRS 102)
Basis for opinion
We conducted our audit in accordance with liiternational Standards on Auditing UK (ISA5 {UK))
alid applicable law. Our responsibilities under those standards are further described in the
Auditors. respoiisibilities for the audit of the financial statements section of our report. We are
independent of the company in accordance with the ethical requirements that are relevant to our
audit of the financi(11 statements li) the UK, including the FRC'S Ethical Staiidard - Provisions
Available for Audits of Small Entities. aiid we have fulfilled our other ethical Tesponsibilities in
accordance with these requirements. We belkeve that the audit evideiice we have obtained is
sufficielit and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the fiii<incial statements, we have concluded that the Trustees, use of the goiiig concern
basis of accouiiting in the preparation of the financial statements is appropriate.
Based on the work we have performed. we have not ideiitified any material uncertainties relating
to events or conditions that. individually or collectively. n]ay cast sisiiificaiit doubt on the
charitable associcltion's ability to coiitinue 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 coiicern are
described in the relevant sections of this report.
Other information
Tlie Trustees are responsible for the other information. The other information comprises the
informcltion included in the Trustees, Annual Report. other than the fii)ancial stateineiits aiid our
auditors, report thereoii. Our opinion oli the financial statetnents does not cover the other
information and, accept to the extent otherwise explicitly stated in our report, that we do not
express any form of assurance conclusion thereon.

12.
INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF
THE ASSOCIATION FOR POST-NATAL ILLNESS
CONTINUED
Other information (continued)
Iii coniiectioii 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 there is a material misstatement in the
fiiiancial statements or a material misstatement of the other information. If, based on the work we
have perEormed, 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 Charities Act 2011
In our opinion, based on the work undertaken iii the course of the audit:
the information given in the Trustees. report for the financial year for which the finaiicial
statements are prepared is consistent with the financial statements,. and
Matters on which we are required to report by exception
In the light of our knowledge and understai)dii)g of the charitable association and it5 environment
obtained in the course of the audit, we have not identified material misstatements iii the Trustees,
report.
We have nothing to report in respect of the following matters in relation to which the Charities Act
2011 requires us to repoTt to you if, in our opinion:
adequate accounting records have not been kept or returns adequate for your audit have not
beeii received from branches not visited by us.. or
the fiiiancial statements are not in agreement with the accounting records and returns- or
certain disclosures of Trustees, remuneration specified by laiv are not made,. or
we have not received all the information and explanations we require for our audit.
Other matter - Unaudited corresponding figures
The prior year's financial statements were iiot required to be audited, and thus this year's
comparative figures are unaudited.
Responsibilities of Trustees
As explained rnore fully in the Statemeiit of Trustees. Ilesponsibilities set out on page 7, the
Trustees are respoiisible for the preparatioii of the fiiiancial statements and for being satisfied that
they give a true and fair view, and for such inteiiial control as the Trustees determiiie is iiecessary
to encible the preparation of financial statements that are free Eroin material inisstateineiit, whether
due to fraud or error.
lii preparitig the financial statemeiits, the Trustees are responsible for assessiiig the charitable
associatioii's abilit}, to continue as a going coiicerii. disclosing, as applicable, Jnatters related to
soiiig concern aiid using the going concern basis of accounting unless the Trustees intend either to
liquidate the charitable association or to cease operations, or have no realistic alternative but to do
so.

13.
INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF
THE ASSOCIATION FOR POST-NATAL ILLNESS
CONTINUED
Auditors. 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 an
auditors, report 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, tndividually or in the aggresate, they could reasonably be expected to
infiuence the economic decisions of users taken on the basis of these financial statements.
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.or
auditorsres
onsibilities.
This
description forms part of our auditors, report.
Extent to which the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instance5 of non<ompliance with laws aiid regulations. We
desisn procedures in line with our respoiisibilities, outlined aLYTrve, 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".
As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain
professional scepticism throughout the audit. In addition. we-
Ideiitify and assess the risks of material rnisstatemeiit of the financial statements, whether due
to fraud or error, design and perform audit procedures respoiisive to those risks, and obtaii)
audit evideiice that is sufficient and appropriate to provide a basis for our opinion. The risk of
not detecting a material misstatement resultins from fraud is higher thali for one resulting from
error, as fraud may involve collusion, forgery. intentional omissions, misrepresentations, or the
override of internal control.
Obtain an understanding of internal control releiTant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the puipose of expressing an
opiiiion on the effectiveness of the charitable association's internal controls.
Evaluate the appropriateiiess of accounting policies used and the reasoiiableness OE
accountiiig estimates aiid related disclosures made by manageinent.

14.
INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF
THE ASSOCIATION FOR POST-NATAL ILLNESS
CONTINUED
Extent to which the audit was considered capable of detecting irreglllarities, including fraud
{continued)
Conclude on the appropriateness of management's use of the going concerii basis OE
accounting aiid, based on the audit evidence obtained, whether a material uncertainty exists
related to events or conditions that may cast significant doubt on the charitable association's
ability to continue as a going concern. If we conclude that a rnaterial uncertainty exists, we are
required to draw attention in our auditor's report to the related disclosures in the financial
statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are
based on the audit evidence obtained up to the date of our auditors, report. However, future
events or conditions may cause the charitable association to ￿ase to continue as a going
concern.
We communicate with those charged with governance regarding. among other matters, the
planned scope and timing of the audit and significant audit findings, including any significant
deficiencies in internal control that we identify during our audit.
Use of our report
This report is made solely to the charitable association's members, as a body, in accordance with
Chapter 3 section 144 of the Charities Act 2011. Our audit work has beeii undertaken so that we
might state to the charitable association's memlErs those matters we are required to state to thein
in ali 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 as5(￿latIOn and the charitable
association's members as a body, for our audit work, for this report, or for the opinions we have
formed.
Malcolm Boydell (Senior Statutory Auditor)
For aiid oli behalf of
Boydell & Co
Statutory Auditors
146B Chiswick High Road
Londoii
W4 IPU
2023

15.
THE ASSOCIATION FOR POST-NATAL ILLNESS
sfATEMENT OF FINANCIAL AcfiviTIES
FOR THE YEAR ENDED 31 MARCH 2023
Unrestricted
general
fund
Restricted
fund
2023
2022
Income and expenditure
Incoming resources..
Grants and donations
Fundraising
Investment income
Publication sales
{2)
(3)
(4)
1.427,819
2.312
4,936
1,427,819 139,225
2,312
6,491
4,936
541
Total incoming resources
1,435,067
1,435,067 146,257
Resources expended:
Fuiidraising
Direct chcThritable expenditure
Management and administration (6)
216
60.917
34.682
216
60,917
34,682
216
47,189
16,133
(5)
Total resources expended
17)
95,815
95,815
63,538
Net income/{expenditure)
1,339,252
1,339,252
82,719
Value adjustment in respect of
investments - unrestricted
(9)
12,446
12,446
Net iiicoming resources
for the year
1.351.698
1,351,698
82,719
Balance brought forward at
l April 2022
126.919
126,919
44,200
Balance carried forward at
31 March 2023
£ 1,482,217
£-£ 1.482,217 £ 126,919
There are no recognised gains or losses other than as disclo￿1 above.
The iiotes on the following pages form part of these financial statements.

16.
THE ASSOCIATION FOR POST-NATAL ILLNESS
BALANCESHEET
AT 31 MARCH 2023
Notes
2023
2022
FIXED A%ETS
Tangible fixed assets
(8)
3,154
530
Investments
{9)
1,053,347
1,056,501
530
CURRENT ASSETS
Debtors
Cash at bank and in hand
(io)
(li)
1,250
426,266
1,250
126,879
427,516
128,129
CREDITORS: amounts falling
due within one year
(12)
(5,4(Kl)
(1,740)
NET CURRENT ASSETS
422,116
126,389
NET ASSETS
£ 1,478,617
£ 126,919
Representing:
Uiirestricted fund
Restricted fund
1,478,617
126,919
£ 1,478,617
£ 126,919
The financial statements were approved by the Committee on
its behalf by..
231111
2023 and sisned on
David Clark
Chairman
Clare Delpech
Treasurer
The note5 017 the following pages form part of these finaiicial statements.

17.
THE ASSOCIATION FOR P￿T-NATAL ILLNE
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2023
Note
2023
2022
Net cash (outflow)/infiow
from opeTating activities
14a 294,451
82,795
Investing activities
Bank interest income
Dividend income
2A62
2,074
Net cash infiow from investtng activities
4,936
Financing activities
Interest paid
Net cash infiow/{outflow)
frotn financing activities
Increase kn cash and cash equivalents
299387
82,795
Cash and cash equivalents at l April 2022
14b 126,879
44,084
Cash and cash equivalents at 31 March 2023
14b 426,266
126,879
The notes oil the followiiig pages form part of these financial statements.

18.
THE ASSOCIATION FOR POsr-NATAL ILLNESS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
ACCOUNTING POLICIES
Statutory information
The Association for Post-Natal Illness is an unincorporated association, domiciled in
England and Wales, with a registered charity number 280510. The resistered office is 145
Dawes Road, Fulha￿ London, SW6 7EB.
Statement of compliance
The financial statements have been prepared in accordance with Accounting and
Reporting by Charities: Statement of Reconunended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable
in the UK {FRS 102) (effective l January 2019) _ (Charities SORP (FRS 102)), the Financial
Reporting Standard applicable in the UK (FRS 102) and the Charities Act 2011. There were
no material departures from the standard.
The Association for Post-Natal Illness meets the definition of a public beiiefit entity under
FRS 102. Assets and liabilities are initially recognised at historical cost or transactioii value
unless otherwise stated in the relevant accounting policy note.
The financial statements are prepared in sterlin& which is the functional currency of the
company.
The Trustees have reviewed the Charity's financial position to ensure it is appropriate to
produce the accounts on a going concern basis.
Income recognition
Items of income are recognised in the financial statements when all of the following
criteria are met..
the Charity has entitlement to the funds;
any performance conditioiis have beeii Tnet or are fully withiii the control of the
Charity- there is sufficient certainty that receipt of the income is coiisidered probable,.
and
the amount can be measured reliably.
Government grants are recognised on the performance model, wheii the charity has
complied with any conditions attaching to the grant and the graiit will be received.
Expenditure recognition
Expenditure is recognised once there is a legal or coiistructive obligation to make payineiit
to a third party, it is probable that settlement will be required and the amouiit cali be
measured reliably.
Expenditure includes those costs of a direct nature which can be allocated to a specific
activity. It cilso includes indirect costs, includiiig governaiice costs that do not relate to a
specific activity but are necessary to support them. Support costs are apportioned to each
activity on the basis of staff time.

19.
THE ASSOCIATION FOR POST-NATAL ILLNESS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
CONTINUED
I. ACCOUNTING POLICIES
CONTINUED
Depreciation:
Depreciation is provided at rates calculated to write off the cost of fixed assets, less their
estimate residual value, over their expected useful lives at the following rates:
Computers
Office equipment
Office furniture and fittings
15% per annurn (reducing balance)
25% per annum (reducing balance)
15% per annum (reducing balance)
Investments
Fixed asset investments are shown at current market valuation.
ludgements and key sources of estimation uncertainty
In the applicatioii of the Chic Tlty's accouiiting policies, the Trustees are required to make
judgements, estimates and assumptions about the carrying amount of assets aiid liabilities
that are not readily apparent from other sources. The estimates and associated
assumptions are based on historical experience and other factors that are considered to be
relevant. Actual results may differ from these estimate5. The estitnates and underlying
assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
Tecognised 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 periods where the revision affects
both current and future periods.
The Trustees do not consider there to be any estimates or judgements that are critical to
the financial statements.
GRANTS AND DONATIONS
2023
2022
ments
Graham C Pye will Trust
1,400,(KK)
iOO,IK)O
Charitable Trusts
Cor
orate:
Mr and Mrs J A Pye's Charitable Settlement
Dyer's Company Charitable Trust
Amounts under £2.000
National Lottery Fund
15,000
2,000
578
20,tK)O
2,000
8,000
Individuals:
Amounts uiider £2.000
10,241
9,225
£ 1.427,819
£ 139,225

20.
THE ASSOCIATION FOR P￿T-NATAL ILLNESS
NOTES TO THE FINANCIAL STATEMENT5
FOR THE YEAR ENDED 31 MARCH 2023
CONTINUED
FUNDRAISING
2023
2022
Friends of St Mary's Barnes Charity Ball
Ladies Night Bake Sale
Lucie Holland: in memory of Emma Cadywould
Michael Mulkerrin- Half marathon
Samantha Cook - Half a Million Steps in June
Kirsti Koop - Charity Twitch Stream
2,000
312
2,363
263
1,004
490
£ 2,312
£ 6,491
INVESTMENT INCOME
2023
2022
Dividend income
Bank interest receivable
2,074
2,862
£ 4,936
DIIIECT CHARITABLE EXPENDITURE
Unrestricted Restricted
funds
funds
Total
2023
Total
2022
Salaries and fees payable
Printing and postage of booklets
Telephone and interiiet
Advertising
49,(M16
6,429
2.352
3,130
49,006
6,429
2,352
3.130
41,868
3,151
2,170
£ 60,917
£ 60,917 £ 47,189

21.
THE ASSOCIATION FOR P05r-NATAL ILLNFSS
NOTES TO THE FINANCIAL STATEMEN15
FOR THE YEAR ENDED 31 MARCH 2023
CONTINUED
MANAGEMENT AND ADMINISTRATION
Unrestricted Restricted
funds
funds
Total
2023
Total
2022
Professional fees
Audit fees
Accountancy
Depreciation
Insurance
Rent, rates and other office costs
Sundry expenses
16.307
5,400
16.307
5,400
2,052
1,740
96
2,508
9,483
254
557
2,894
8.￿3
621
557
2,894
8,￿3
621
£ 34,682
£ 34,682 £ 16,133
TOTAL RESOURCES EXPENDED
Staff
costs
Other
costs
Total
2023
Total
2022
Fuiidraising
Direct charitable expenditure
Management and administration
216
11,911
34.682
216
60,917
34.682
216
47,189
16,133
49,006
£ 49,006 £ 46,809 £ 95,815 £ 63,538
TANGIBLE FIXED ASSETS
Furniture
Office
and fittings equipment Computers
Total
Cost:
At l April 2022
Additions
2281
1.5
8,696
3.181
12,633
3,181
At 31 March 2023
2.381
1,556
15,814
Depreciation:
At l April 2022
Charge for the year
2.311
li
1,547
8,245
545
12,103
557
At 31 March 2023
2,322
1,548
8.790
12,6
Written down value..
At 31 Milrch 2023
£59
£8
£ 3,087
£ 3,154
At 31 Miirch 2022
£70
£451
£530

22.
THE A￿cIATIoN FOR POST-NATAL ILLNESS
NOTFS TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
CONTINUED
INVESTMENTS
2023
2022
Balance brought forward
Additions
Fair value adjustment
1,040,901
12,446
£ 1,053,347
The Association's investments are managed by Adam & Company of Edinburgh and
comprise principally equities and bonds. the portfolio is stated at closing market value and
its related investment account is shown under note 11 cash at bank and in hand below.
10. DEBTORS
2023
2022
Prepayments
1,250
1,250
£ 1,250
£ 1,250
11. CASH AT BANK AND IN HAND
2023
2022
CAF Bank Ltd accounts
HSBC plc charity accouiit
Natwest plc reserve account
Adam & Company investment account
74,552
9.825
1,326
340,563
114,226
11,327
1,326
£ 426.266
£ 126,879
12. CREDITORS: amounts falliEI
due within one
ear
2023
2022
Accruals
£1,740
13. TRUSTEES REMUNERATION AND AVERAGE NUMBER OF EMPLOYEES
TruSt￿S are not remunerated other than in one case. Mrs Diane Nehmé received £11,808
12022- £10,500) for services reiidered as administrator.
The average number of employees. including Trustees employed under contracts of
service is 5 (2022- 5). No employee received remuiieratioii amouiiting to tnore that £60,000
in either year.

23.
THE ASSOCIATION FOR P￿T-NATAL ILLNESS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
CONTINUED
14. NOTES TO THE STATEMENT OF CASHFLOWS
Reconciliation OE sur
lus to net cash infiow from o
ratin
2023
activities:
2022
Net surplus for the year
1.351.698
82.719
Adjustments to reconcile surplus for the year
to net cash flow from operating activities".
Purchase of fixed assets
Depreciation of plant and equipment
Investment income
Purchc15e of investments
Value adjustment of investments
(3,181)
557
(4,936)
(1.040.901)
(12,446)
96
Working capital movements:
(Increase) in debtors
Increase in creditors
{80)
60
3,660
Net cash infiow from
operatiiig activities
294.451
82,795
b. Cash and cash e
uivalents:
2023
2022
Cash at bank and in hand
426,266
126,879
Chan
e in net debt:
At l April
2022
126,879
Reclassification
Cash-flows
At 31 March
2023
426,266
Cash
Loaiis fcilling
due in less
than one
ear
299,387
TOTAL NET
DEBT
126,879
299.387
426,266
d. Ma
or non-cash transactions:
There were no major non-cash traiisactions to disclose (2022.. none).

The following page does not form part of the statutory financial statements.

THE A￿)cIATIoN foR P￿T-NATAL ILLNE
DETAILED INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED31 MARCH 2023
2023
2022
INCOME
Legacy, grants and donations
Fuiidiaising
Publication sales
Investment Income
1.427,819
2J12
139,225
6,491
541
4.936
1.435,067
146,257
LESS EXPENDITURE
Audit fees
Accountancy fees
Professional & legal
Depreciation
Insurance
Sundry expenses
Priiiting, postage of booklets
Advertisiiig
Rent, rates and other office costs
Gross salaries payable
Telephone and internet
Fundraising
5,4(Xl
1,740
2,052
96
2,508
254
3,151
16J17
557
2,894
621
6.429
3,130
8,903
49.006
2.352
216
9,483
41.868
2,170
216
(95015)
(63,538)
SURPLUS ON ORDINARY AcfiviTIFS
£ 1,339,252
£ 82,719