NEUROBLASTOMA UK
Charity Commission reference number 326385
REPORTS AND FINANCIAL STATEMENTS
For the year ended 31 December, 2020
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NEUROBLASTOMA UK
REPORT AND FINANCIAL STATEMENTS For the year ended 31 December, 2020
| Trustees’ annual report Independent Examiner’s Report Statement of financial activities Balance sheet Notes to the financial statements |
CONTENTS Page 3-5 6 7 8 9-13 |
|---|---|
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TRUSTEES’ ANNUAL REPORT for the year to 31 December, 2020
The Trustees present their report with the financial statements of the charity for the year ended 31 December, 2020. 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 (FRS102) (effective 1 January, 2015). As a charity registered in England and Wales, the charity also reports in accordance with the Charity Commission for England and Wales’ guidance on public benefit and the Charities Act 2015.
Section A Reference and administrative details Charity Name NEUROBLASTOMA UK Registered Charity Number 326385 Registered Address 7/14 Great Dover Street, London SE1 4YR Trustees who manage the charity:
Tony Heddon (Chair) Shirley Clark (Secretary) – retired 14 December, 2020 Carolyn Jackson (Secretary) – appointed 9 June, 2020 Malcolm Dean (Treasurer) Zara Aitchison Guy Blanchard – retired 9 June, 2020 Ruby Dickens Faith Gibson – retired 9 June, 2020 Keith Holmes Jane Morris Monica Proctor Stephen Smith Faye Watts Alastair Whitington Debbie Tweddle Kate Wheeler
Independent Examiner Haines Watts, Statutory Auditor, 3[rd] Floor Pacific Chambers, 11-13 Victoria Street, Liverpool, L2 5QQ
Bankers Barclays Bank PLC, Newmarket, LE87 2BB
Public Benefit Requirement
The trustees of Neuroblastoma UK confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties.
Section B Structure, governance and management
Governing Document
The Trust is an unincorporated trust, constituted under a Trust Deed dated 20 May, 1983 and is a registered Charity number 326385.
Recruitment and appointment of new trustees
Lay Trustees are appointed by the Trustees following consideration of applications received from individuals. Medical Trustees are appointed by the Trustee on the recommendation of existing Medical Trustees.
Risk Management
Trustees have considered the major risks to which the charity may be exposed; have reviewed them and established systems and procedures to manage them. Trustees consider the possibility that money placed on investment could be at risk if the organisation holding the deposit should fail. Although current investments are
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placed with large, well-established financial institutions Trustees identified the need to re-examine investment policy and have concluded that investments should be spread across a number of institutions to minimise the impact if a single fund-holder should fail. The Trust is essentially a cash based charity, holding no property. The Charity has developed sufficient internal controls to monitor and minimise the risk of misappropriation of funds.
Section C Objectives and activities
Objectives and aims
The object of the Charity is to provide relief for children suffering from Neuroblastoma, and to achieve this, it raises funds for medical research into improving both diagnosis and treatment of the disease. The Charity also offers an opportunity for parents to give each other mutual help, support and comfort.
Policy on Grant-making
Trustees invite applications for grant award by public advertisement, typically on the Charity’s website. Normally this is biennially so that sufficient funds are available to commission meaningful research studies, although exceptions are occasionally made when judged appropriate by the Trustees in consultation with the Charity’s Scientific Advisory Board (SAB). Applications are first considered by the Charity’s SAB, which is made up of 5 scientists experienced in Neuroblastoma research and a chairman who is a paediatric oncology clinician. Each application is accompanied by reports from 2 or 3 referees who have specialist knowledge of the research area proposed, and by a response from the applicants to those reports. The SAB then recommends to Trustees applications worthy of grant funding in order of merit. Trustees award grants in the light of the SAB’s advice and funds available. Grants are only awarded to the extent that resources have already accrued in the Charity’s unrestricted fund or appropriate restricted fund.
Section D Achievements and performance
Charitable activities
As with many charities, 2020 proved challenging. The Covid crisis and the need for extended periods of lockdown had a significant affect on our ability to raise funds through social and sporting events. Most notably the London Marathon our key fundraiser. We took the decision not to furlough our colleagues which enabled us to continue developing awareness and providing support to our fundraisers in a way which we would not have been able to do had they not been actively engaged. This decision enabled us to exit the year with only a small reduction in year-on-year donations, the majority of which were one-off legacy donations with the day-to-day run rate remaining solid.
Our Patron, Alan Carr, proved a vital outlet for funding, holding virtual on-line quizzes during lockdown and a inperson appearance a week before the first lockdown. We also benefited from his media and television appearances. He has agreed to front a new awareness and fundraising campaign in late summer generating a new suite of marketing and media materials.
The One Sock Story campaign in late 2020 not only raised valuable funds but also introduced us to Radio One DJ, Scott Mills, who has subsequently agreed to join Alan as a patron. These celebrity endorsements, along with the continued efforts of our team, have seen significant increase in traffic through our social media channels and our website.
The reduced level of funding and the number of researchers on furlough, forced us to delay our bi-annual research grant round until mid 2021. This will enable us to increase available funds for the round and allow for a higher number of applications.
Our most significant new investment was the funding of the HR2 Trial for the Neuroblastoma community ensuring that all children will have access to the latest clinical trials from across Europe for the next 10 years
We are planning to hold our 6[th] Neuroblastoma Research Symposium towards the end of 2021 or beginning of 2022 dependent upon the developments with covid
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Section E Financial Review
Reserves Policy
The annual income generated by the Charity is to be applied for charitable purposes in accordance with the Trust’s objective. Year on year the trustees intend to make a full distribution of available income, subject to making adequate reserves for known and potential liabilities and commitments, where applicable. Any amounts not so distributed are accumulated in the unrestricted fund. Funds committed to supporting approved research, but not immediately required are invested in line with the investment policy described below. The balance held as unrestricted reserves at 31 December, 2020 was £326,914 (2019 £426,822).
Investment Policy
The Trustees’ intention is to maintain funds so that they are readily accessible when required, but are earning a reasonable return whilst not utilised.Trustees reviewed this policy in February 2005 and confirmed their policy of only placing funds in investments where the book value of the principal is maintained.
Statement of Trustees Responsibilities
The trustees are responsible for preparing the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Charity Law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with the United Kingdom Generally Accepted Accounting Practice (United Kingdom Standards and applicable law). The financial statements are required by law to give a true and fair view of the state f affairs of the charity and of the surplus or deficit of the charity for that period. In preparing those financial statements the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP (FRS102)
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustees on
Signed on their behalf and with their approval by:
MR T HEDDON Chair
MR M DEAN Trustee and Treasurer
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Independent Examiner’s Report to the Trustees of Neuroblastoma UK
I report to the trustees on the examination of the accounts of Neuroblastoma UK for the year ended 31 December, 2020.
Respective responsibilities of Trustees and Examiner
The charity’s trustees are responsible for the preparation of accounts in accordance with the requirements of the Charities Act 2011.
I have reported in respect of the examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out the examination have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent Examiner’s Statement
The Charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of ICAEW.
I have completed the examination and can confirm that no material matters have come to my attention in connection with the examination, which gives me reasonable cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act
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the accounts did not accord with the accounting records; or
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the accounts did 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.
Mr. Michael Forshaw FCA Independent Examiner Haines Watts Pacific Chambers 11-13 Victoria Street Liverpool L2 5QQ
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NEUROBLASTOMA UK
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 DECEMBER, 2020
Note INCOME AND ENDOWMENTS FROM: Donations 2 Other trading activities 3 Income from investments 4 TOTAL EXPENDITURE ON: Raising funds 5 Charitable activities: Grants payable and grant amendments 6 Governance costs 7 TOTAL NET (EXPENDITURE)/INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted Funds 31 December, 2020 £ £ 311,486 23,907 5,515 340,908 (3,758) (329,390) (107,668) (440,816) (99,908) 426,822 326,914 |
Unrestricted Funds 31 December, 2020 £ £ 311,486 23,907 5,515 340,908 (3,758) (329,390) (107,668) (440,816) (99,908) 426,822 326,914 |
Unrestricted Funds 31 December, 2019 £ £ 262,859 124,811 6,936 394,606 (2,985) (716,305) (81,434) (800,724) (406,118) 832,940 426,822 |
Unrestricted Funds 31 December, 2019 £ £ 262,859 124,811 6,936 394,606 (2,985) (716,305) (81,434) (800,724) (406,118) 832,940 426,822 |
|---|---|---|---|---|
| 340,908 (440,816) |
394,606 (800,724) |
|||
| (99,908) 426,822 |
(406,118) 832,940 |
|||
| 326,914 | 426,822 |
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NEUROBLASTOMA UK
BALANCE SHEET
| AS AT | 31 DECEMBER, | 2020 | ||
|---|---|---|---|---|
| 2020 | 2019 | |||
| Note | £ | £ | ||
| CURRENT ASSETS | ||||
| Debtors and advance payments | 9 | 11,753 | 16,212 | |
| Investments | 10 | 959,691 | 958,092 | |
| Cash at bank | 11 | 369,150 | 242,177 | |
| TOTAL CURRENT ASSETS | 1,340,594 | 1,216,481 | ||
| CREDITORS: Amounts falling due due within | 12 | |||
| one year | (563,209) | (431,063) | ||
| NET CURRENT ASSETS | 777,385 | 785,418 | ||
| CREDITORS: Amounts falling due in more | 13,14 | (450,471) | (358,596) | |
| than one year | ||||
| NET ASSETS | 326,914 | 426,822 | ||
| FUNDS OF THE CHARITY | ||||
| Unrestricted fund | 15 | 326,914 | 426,822 |
The financial statements set out on pages 8 – 13 were approved by the Trustees on
TRUSTEE – Mr T Heddon
TRUSTEE – Mr M Dean
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NEUROBLASTOMA UK
NOTES TO THE ACCOUNTS
YEAR ENDED 31 DECEMBER, 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable trust, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS102) ‘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 (FRS102) (effective 1 January, 2015)’, the Financial Reporting Standard 102 (effective January 2015) and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Donations
Cash donations and gifts are included in full in the Statement of Fiinancial Activities when they are received by the charity. Cash collected at special fund-raising events is included in the income and expenditure account after deducting the expenditure incurred directly in staging the event. Significant non-cash donations are included in the income and expenditure account at the Trustees’ estimation of their market value when received.
Income from investments
Investment income is included in the Statement of Financial Activities on an accruals basis.
Research Grant Awards
These are charged to the Statement of Financial Activities when the Trustees have awarded them. Research grants awarded, but not disbursed at the balance sheet date, are carried forward as grant creditors in the balance sheet.
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.
Cash Flow Statements
The Charity has taken advantage of the exemption provided by the Charities SORP (FRS102) and does not prepare a cash flow statement.
Taxation
The charity is exempt from Taxation on its charitable activities.
VAT
As a non-trading organisation the charity is not registered for VAT purposes, and is unable to recover VAT incurred on its expenditure.
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NEUROBLASTOMA UK
NOTES TO THE ACCOUNTS (Continued)
YEAR ENDED 31 DECEMBER, 2020
| 2. DONATIONS Donations and fund-raising Collecting Boxes Regular Giving Gift Aid Tax Recoverable 3. OTHER TRADING ACTIVITIES Sponsorship from marathons and sporting events Co-funding – Smile with Siddy Chesler Christmas cards, webshop and other income 4. INCOME FROM INVESTMENTS COIF deposit National savings income bonds 5. EXPENDITURE ON RAISING FUNDS Fund-raising and publicity costs |
2020 2019 £ £ 311,486 248,474 1,236 6,192 6,957 |
|---|---|
| 311,486 262,859 |
|
| 2020 2019 £ £ 3,750 86,771 23,907 34,290 |
|
| 23,907 124,811 |
|
| 2020 2019 £ £ 1,599 2,911 3,916 4,025 |
|
| 5,515 6,936 |
|
| 2020 2019 £ £ 3,758 2,985 |
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6. GRANTS PAYABLE AND GRANT AMENDMENTS
| Turner Laman (net of co-funding income) Stoker Chesler Tsakiridis Piskareva Grey (net of co-funding income) Walters Guo/Falconer University of Birmingham Straathof Ramanujachar Conferences, Travel and Other Grants Write back 7. EXPENDITURE ON CHARITABLE ACTIVITIES Rent and facilities Establishment costs Staff salaries and pension contributions Staff training Sporting event costs Subscriptions Travel Computers, software and equipment hire Accounts and audit Trustees meeting costs Printing, postage and stationery Sundries Advertising and website Insurance Bank and professional charges Seminar costs |
2020 2019 £ £ 236,141 3,369 143,648 205,238 36,328 116,400 1,990 5,000 4,950 175,000 154,492 5,517 (5,619) (36,759) |
|---|---|
| 329,390 716,305 |
|
| 2020 £ 2019 £ 16,217 14,399 987 61,203 30,145 579 3,024 2,200 1,146 6,734 77 797 1,035 1,056 10,604 10,944 452 860 1,526 1,757 1,596 351 4,656 5,736 955 906 5,167 122 10 3,861 |
|
| 107,668 81,434 |
8. TRUSTEES’ REMUNERATION AND BENEFITS
There was no trustees’ remuneration or other benefits for the year ended 31 December, 2020 (2019 £NIL). The Trust owns no premises.
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NEUROBLASTOMA UK
NOTES TO THE ACCOUNTS (Continued)
YEAR ENDED 31 DECEMBER, 2020
| 9. DEBTORS AND PREPAYMENTS Gift Aid Tax Recoverable Receivables Prepayments 10. CURRENT INVESTMENTS COIF Deposit Fund National Savings – Income bonds 11. CASH AT BANK AND IN HAND Cash at Bank 12. CREDITORS – DUE WITHIN ONE YEAR Grant commitments Trade creditors Accruals 13. CREDITORS – DUE IN MORE THAN ONE YEAR Grant commitments |
2020 2019 £ £ 6,957 3,496 2,230 8,257 7,025 |
|---|---|
| 11,753 16,212 |
|
| 2020 2019 £ £ 609,691 608,092 350,000 350,000 |
|
| 959,691 958,092 |
|
| 2020 2019 £ £ 369,209 242,177 |
|
| 2020 2019 £ £ 551,133 415,746 11,176 900 14,317 1,000 |
|
| 563,209 541,063 |
|
| 2020 2019 £ £ 450,471 358,596 |
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NEUROBLASTOMA UK
NOTES TO THE ACCOUNTS (Continued)
YEAR ENDED 31 DECEMBER, 2020
14. GRANT COMMITMENTS
| Total commitments at 1 January, 2020 Paid in the year New commitments Written back in the year |
2020 2019 £ £ 774,342 282,736 (102,128) (224,700) 335.009 753,064 (5,619) (36,759) |
|---|---|
| 1,001,604 774,342 |
All of the grants paid in 2020 and 2019 were to institutions and to commission research studies.
All of the new grant commitments in 2020 were to institutions.
15. ANALYSIS OF UNRESTRICTED FUND
| At 1 January, 2020 Net movement in funds for the year |
2020 2019 £ £ 426,822 832,940 (99,908) (406,118) |
|---|---|
| 326,914 426,822 |
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