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Annual Report 2023/24

Annual 2023/24 Report

The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital) For the year ended 31 March 2023 1 Company Registered No.: 01224751 Registered Charity No.: 505002

The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

Annual Report 2023/24

Contents e>

3 Welcome

4 About Us

Our Charity values Our Patrons What we do > Meet our Trustees ‘ 15 2023/24 in Review < 18 Highlights ° NCCHT >» Snowflakes >» Team highlights , Awards 24 Funded Project Highlights Helipad Specialist equipment Art+ > Research ‘ 32 Financial Review ” At a glance > How do we manage our funds? > Report of the management committee Independent auditors report >

48 Statement of Financial Activities Balance sheet >» Cash flow > Notes to the Financial Statements

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Welcome

As we reflect on the past year, we are filled with gratitude and pride for what we have achieved together as a community. 2023/24 has been a year of remarkable achievements, resilience, and unwavering commitment to our mission of helping to change lives at Sheffield Children’s.

We are thrilled to have had continued support from community and corporate fundraisers, who have helped us reach significant milestones. Together, we raised over £1.2million with our corporate supporters, which is a testament to the strong partnerships we’ve developed with businesses that share our dedication to helping ensure that Sheffield Children’s is able to provide the best possible care for children all over Yorkshire, the UK and beyond. Additionally, almost £1million was raised by our community supporters, showing the power of grassroots engagement and the profound impact of collective action.

In line with this commitment, we were delighted to announce the Charity’s latest capital appeal in 2023, as it pledged to invest in innovation and raise £2million towards the cost of the new National Centre for Child Health Technology (NCCHT). The £22million centre will be a place to develop world-leading research, and build new technologies to solve the biggest challenges in children’s healthcare. The Charity is well underway with fundraising, and is proud to be a key partner in such an exciting new initiative for Sheffield Children’s

As we embark on the journey ahead, we are filled with optimism and enthusiasm. Our collective efforts have already yielded remarkable results, and we have no doubt that, with continued dedication, collaboration, and innovation, we can achieve even greater heights in the next year and beyond. We have ambitious plans to grow the Charity’s profile and its income, as we head towards exciting milestones, and continue to deliver significant transformational projects.

As always, we would like to thank all associated with The Children’s Hospital Charity, from our staff and donors, to our volunteers, for their continued support – we really couldn’t do it without you.

Our Children’s Champions program has experienced considerable growth, with income increasing substantially over the past year. This program, which empowers individuals to become advocates for children’s health and well-being, has become a cornerstone of our efforts to contribute to the vision of Sheffield Children’s, ensuring that children and young people will always receive outstanding care, in excellent facilities. The passion and dedication from our Children’s Champions has been instrumental in driving positive change, and we have been inspired by the impact they have made.

To each and every one of our supporters, we extend our heartfelt gratitude for your generosity and belief in our cause.

However, it’s important to also acknowledge the challenges we, and other charities, faced this year; particularly with Trusts and Grants applications. As the landscape of charitable giving continues to evolve, so too do the complexities of navigating funding opportunities. Despite encountering obstacles along the way, we remain steadfast in our commitment to innovation, adaptability, and the pursuit of excellence in all that we do.

John Armstrong Jonathan McMahon Chief Executive Officer Chair The Children’s Hospital Charity The Children’s Hospital Charity

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About Us

Sheffield Children’s NHS Foundation Trust is at the heart of everything we do at the Charity. We come together as one team, delivering over and above the NHS provision and ultimately enhancing the experience for patients and families visiting the Trust.

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About Us

Sheffield Children’s is a leader in children’s health and shapes future paediatric care globally. Professionally, many colleagues are amongst the best in their fields, being recognised nationally and internationally.

One of only three specialist standalone children’s Trusts in the UK, the other two being Alder Hey and Great Ormond Street, children and young people travel from all over the country and the world to

Sheffield Children’s is unique in the breadth of its expertise, supporting children and young people in many different ways. Several UK-wide and international centres are at Sheffield Children’s, providing highly specialised healthcare, making it a leader in children’s health.

This includes neurosurgery and intensive care, through to supporting with the management of long-term conditions like cystic fibrosis or sleep difficulties. Sheffield Children’s also provides community and mental health care as well as acute and specialist services for children from 0-16 years old.

Here at The Children’s Hospital Charity, we change children’s lives every day by supporting groundbreaking medical treatment and creating a comfortable, engaging environment. Donations, fundraising, and sponsorship help to create a healthier future for children and young people who visit.

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About Us

Our Charity Values

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Accountability

We are transparent, with the money raised and the projects we fund going above and beyond to help create a healthier future for children and young people. We are accountable to our environment, aiming to achieve sustainability together.

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Compassion

Excellence

We are led by kindness, empathy, and understanding. We support and go above and beyond for our donors, caring and listening to their needs.

We strive to be dynamic and creative in our work, winning awards for our innovation, enhancing the patient and family experience. With excellence we can have an impact on those we support, going above and beyond the NHS provision and supporting Sheffield Children’s be a leader in paediatric care.

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Inclusivity

Together

We promote diversity and are We come together as one committed to inclusivity. We team with colleagues, patients, strive to ensure all colleagues, families and donors. We are supporters and individuals passionate about Sheffield feel values, respected and Children’s, a cause we care appreciated. deeply about.

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About Us

Our Patrons

Dame Jessica Jon Richardson Ennis-Hill

Lucy Beaumont

Dominic Calvert-Lewin

Nick Matthew OBE Joe Root MBE

Dan Walker

Bombette Martin

Esme Morgan Harry Maguire James Toseland

Richard Hawley

Pete McKee Matt Fitzpatrick

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Objectives and Activities

What We Do

We help facilitate Sheffield Children’s NHS Foundation Trust to be innovative, dynamic and ambitious.

Our Mission

Our mission is to enhance Sheffield Children’s, giving children and young people the best chance of a healthier future.

We connect supporters to Sheffield Children’s, funding enhancements above the NHS provision and help make Sheffield Children’s a brilliant place to work and visit. The money we raise funds innovative projects, groundbreaking research which shapes future paediatric care, specialist medical equipment, new facilities and creates an engaging environment built with children in mind.

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Our charitable objectives

The objectives of the Charity are for the public benefit, the relief of sickness and in particular:

to enhance the services, facilities and environment of Sheffield Children’s and its reputation as a centre of excellence for the care, prevention and cure of illnesses affecting children;
to further any charitable purpose(s) relating to the general, or any specific, purposes of Sheffield Children’ s or the health service;
to promote, protect, preserve and advance all or any aspects of the health of the public; and
to advance and promote knowledge and education in medicine including engagement in and supporting medical research (and the dissemination of the useful results), provided that such support is not of a kind that would ordinarily be given by the statutory authorities.

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For the public benefit

Our Trustees confirm that they have complied with the duty in the Charities Act 2011 to have due regard for the Charity Commission’s general guidance on public benefit.

In setting our objectives and planning our activities our Trustees have again given careful consideration to the Charity Commission’s general guidance on public benefit.

Each year, over 300,000 patient journeys are made to Sheffield Children’s NHS Foundation Trust from all over the world. Charity funding is available for every discipline within the hospital trust. As a result, public benefit sits broadly across all patients, their families and the local communities that they come from.

In addition, charity funding of medical research is invested into strategic projects that are most likely to lead to further nationally funded research. Research findings from Sheffield Children’s are published in peer medical journals. This has the result of widely disseminating research findings across the research community, resulting in worldwide impact and public benefit.

We have cared for over 61,000 patients in our Emergency Department; over 222,000 through Outpatients on all sites and undertaken over 25,000 operations and procedures.

Over 300,000 patient journeys

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Meet our Trustees

The Children’s Hospital Charity‘s Trustees help oversee its long-term strategy, as well as contributing to and supporting the management of the Charity, ensuring it delivers significant income to improve children and young people’s lives.

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Jonathan McMahon (Chair of The Children’s Hospital Charity, appointed 31[st] July 2023)

Jonathan is an experienced executive and non-executive director, having held senior positions in UK and EU financial institutions. He was also previously a Trustee of National Star, a charity supporting young people with disabilities. He was born in Sheffield and lives in the city with his family.

Jonathan leads the Charity’s Board as it continues to raise vital funds to help provide specialist treatment, life-saving equipment, new facilities, a comfortable environment, and pioneering research, which changes paediatric care for thousands of children from across the world.

Ruth Brown

Ruth is Chief Executive of Sheffield Children’s NHS Foundation Trust, which specialises in providing integrated care for children and young people with an increasing focus on health inequalities. She is also a Trustee of Voluntary Action Sheffield and The Children’s Hospital Charity.

Ruth has spent her entire career in the NHS working in regional and local organisations in both provider and commissioning roles. As CEO for Sheffield Children’s NHS Foundation Trust she leads an organisation of more than 4,000 colleagues who strive to provide a healthier future for children and young people through both physical and mental healthcare and community services.

Mark Rooker

Mark is Head of Operations for Online Learning at Sheffield Hallam University. His role involves launching and developing a variety of online learning courses to national and global audiences. Mark has worked in various commercial, consultancy, sales and marketing roles throughout his career, for a number of charities and worldleading organisations.

Mark’s involvement with The Children’s Hospital Charity began in 2003, when he supported a fundraising campaign through his employer. In 2012, he became a volunteer for the Charity, and in 2019 he was elected as a Public

She believes deeply in the power of partnerships and collaboration and is currently the lead CEO for the South Yorkshire Acute Federation and South Yorkshire Children & Young People’s Alliance, as well as the Co-Chair of the National Children’s Hospital Alliance.

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John Warner

John qualified with BHP Chartered Accountants in 1980, before becoming a partner in 1987. John later became joint managing partner in 2009, and sole managing partner from 2011-2019. During this time BHP grew to be the largest independent firm in Yorkshire.

John retired from BHP in January 2023 and now focuses on a number of non-executive and advisory roles, incorporating strategic business and succession planning.

As well as his role at this charity, John is a Trustee at Sheffield City Trust, a charity responsible for Sheffield’s leisure and entertainment facilities, and a Director of Finance Yorkshire, a £65million gap fund for growth and

Professor David Barnett

David was a Consultant Clinical Scientist and Professor of Diagnostic Haematology, having worked in the NHS for 42 years before retiring in 2018. He worked within the Haemato-Oncology Diagnostic Service at the Department of Haematology at Royal Hallamshire Hospital, which serves 2,000,000 people. He was also, during his time within the NHS, Director of the United Kingdom National External Quality Assessment Scheme for Leucocyte Immunophenotyping (UK NEQAS LI) that provides External Quality Control (EQA) to over 4,000 international clinical laboratories; he has published and lectured extensively in this area.

David is currently the Director of EQA International Ltd, working closely with the NHS to provide quality assessments to international clinical laboratories.

Amaka is Professor in Paediatric Musculoskeletal Imaging, and Consultant Paediatric Radiologist at the University of Sheffield and Sheffield Children’s. Professor Offiah has published over 150 peer-reviewed articles, book chapters and books, and given over 250 invited national and international lectures.

Professor Offiah is the co-chair of the University of Sheffield’s Race Equality Charter application Executive Committee, and Director of Wellbeing, Equality, Diversity and Inclusion for the Faculty of Medicine, Dentistry and Health. She is the first female, and first person from an ethnic minority background, to be a Managing Editor of the international journal Paediatric Radiology.

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Rachel White

Joining Henry Boot PLC in 2001 as a Graduate Trainee, Rachel has gained various external qualifications whilst working her way up to the roles of Group HR Manager in 2010, Head of HR in 2015 and HR Director in 2022. Rachel is directly involved in supporting The Children’s Hospital Charity through her employer.

Sarah Jones (resigned 31[st] December 2023)

Sarah was appointed as Chair of the Board of Directors at Sheffield Children’s in September 2016, after holding a nonexecutive director role on the Board from August 2008.

She also Chairs the Council of Governors, the Board Nominations and Remuneration Committee, and the Trust’s Organ Donation Committee.

Outside of the Trust Sarah is Chair of Realise, a national apprenticeship provider, and she also Chairs the South Yorkshire Mental Health, Learning Disabilities & Autism Provider Collaborative.

Paul Firth (Chair of The Children’s Hospital Charity, resigned 31[st] July 2023)

Paul has more than 35 years of experience as a commercial lawyer, and has advised many large institutions, companies and local authorities on developments and general commercial matters.

Paul is currently Head of Legal at Curvalux Inc., having been a senior figure at DLA Piper and, more latterly, Irwin Mitchell over many years.

Paul stood down from his role as Chair of The Children’s Hospital Charity in 2023, after 25 years. During his term, he has overseen the Charity raise a staggering £50million, and the subsequent successful completion of numerous fundraising appeals and projects, including the transformation of four world-class wards, as well as a new Safeguarding Support Unit, and a new Haematology and Oncology ward.

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2023/24 in Review Our highlights, achievements and activities

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2023/24 in Review

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2023/24 in Review

Facts and Figures

Despite the challenges brought about as a result of the cost-of-living crisis, the Charity continued to benefit from outstanding support and raised over £4 million to help enable Sheffield Children’s to remain at the forefront of paediatric care.

Donations and fundraising

We are so grateful to the incredible companies, groups and individuals who have supported us this year. This includes via:

Pyjama Day

Donations and fundraising Trading and investment 25% 59% 16% Legacies ©¢

Sponsored runs, walks, and head shaves
Corporate fundraising and Charity of the Year events
Donations from Trusts, Foundations and our group of philanthropists, The Children’s Champions.

Trading

This includes money raised from merchandise (bought at the hospital site, online or at till points) and at charity fundraising events.

Legacies

Gifts arising from Wills form a significant part of the Charity’s income profile, and are an important investment in the future of the health of the children served by the Trust. This includes residuary gifts (where we receive a share of the estate) as well as pecuniary gifts (gifts of specific amounts). Gifts left in wills ranged from £250 to £165k in 2023/24.

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Highlights

In early 2023 we announced how delighted we are to be a key partner and funder of an exciting new project at Sheffield Olympic Legacy Park - the National Centre for Child Health Technology (NCCHT) – which will be run by Sheffield Children’s NHS Foundation Trust. q - " vA Ce, “a F

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Highlights

What is the NCCHT?

The NCCHT will be a place to develop world-leading research and build new technologies to solve the biggest challenges in children’s healthcare. It will bring together children, clinicians, inventors and engineers under the same roof, with state-of-the-art facilities for manufacturing, digital development and the opportunity to deliver Sheffield Children’s clinical care.

The vision at Sheffield Children’s is for local children and their families to benefit from the latest improvements in healthcare. As part of the Olympic Legacy Park, NCCHT will drive employment and develop the skills of our local communities here in Sheffield. There will be world-class healthcare facilities on site, so some patients at Sheffield Children’s will receive their healthcare there.

The NCCHT will be more than a building. It will bring together a community of innovators across the world, working and collaborating virtually, as well as being physically based on our site.

What will happen there?

The technologies that we develop will benefit children today and in the future, across the world.

Robotics, virtual reality and artificial intelligence are changing our lives. At NCCHT, these will be used to change how we care for children. The Centre will be a place to create, test and put into practice these and other child health technologies.

How much do we need to raise?

NCCHT will have a virtual reality suite, creative space to develop ways to care for people remotely and the opportunity to test new prototypes.

The Children’s Hospital Charity has launched an appeal to raise £2m to contribute towards the

cost of the £22m cost of the centre.

It will be a space to connect young people, families, academics, engineers, industry, creators and healthcare professionals under one roof, to solve the big problems in healthcare.

eee, ( World-leading research NCCHT

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Highlights

Hundreds of sparkling snowflakes were lit up for Sheffield Children’s across nine locations around South Yorkshire and Derbyshire, raising a project record of over £376,000 - the highest amount since the campaign first began.

Initially starting with just eight decorations in 2004 on the Western Bank site at Sheffield Children’s, we now have over 460 snowflakes across nine different Trust and external sites, with plans to expand even further in 2024/25.

Raised	Snowflakes available	Snowflakes available	506	Snowflakes sponsored	Snowflakes sponsored	349
	Snowflakes with tags on		471	Snowflakes gifted		122
Amount raised per site
Sheffield Children’s Hospital	£310,831.25	Chesterfield		£2,809.00
City Hall	£21,620.80	Alhambra		£1,952.93
Ryegate Becton	£2,350.00 £4,350.00	Brinsworth Extra (Switch on, Match Funding, Donations)	£600.00 Extra (Switch on, Match Funding, Donations)		£6,537.81
St John’s	£8,050.00
Crystal Peaks	£7,270.00

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Highlights

Fundraising events within the community

Fundraising events within the community have seen real successes over the last year, generating donations of almost £1million thanks to the generosity and dedication of supporters.

This year has seen an increase in the number of people taking on active challenges for the Charity, with over £133k raised from adrenaline-fuelled activities such as runs, abseils and sky dives. The Charity’s work with community groups and associations has also raised over £178k, signalling a positive upturn following a difficult few years during the cost of living crisis.

Corporate fundraising

The Charity’s work with corporate and special groups has raised over £1.2million through various initiatives, including some fantastic special events, workplace fundraising, donations, and the management of support from Patrons and Ambassadors.

This year also saw the launch of the Bright Young Dream campaign, spearheaded by Patrons Dame Jessica Ennis-Hill, Dan Walker, Jon Richardson and Lucy Beaumont. The campaign is focussed on raising funds and awareness around children’s mental health

The Charity Hub and trading

Our trading arm raised £101k by selling merchandise on and offline, as well as at events and third-party organisations.

This included a combination of corporate contributions and a range of branded items such as hoodies, mugs and stationery, which also provided patients in the hospital with sensory, colourful cheer for their visits. We also launched a successful partnership with local chocolatiers, Bullion, who helped create a collection of bespoke chocolate snowflakes to complement our Snowflakes campaign.

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Highlights

Major donors

We are incredibly grateful to our supporters who donate significant and generous gifts.

Whether this be through our Children’s Champions programme, via attendance at one of our many special events, or via fundraising on one of our bespoke committees. Our major donors remain a unique group of individuals, companies and private family trusts, all sharing the same passion – to help patients and their families at Sheffield Children’s.

Trust and Grants

Whilst gifts have decreased in this income stream across the charity sector as a whole, monies from grant making organisations have continued to make a significant difference to patient care.

Key successes include a £100k gift towards Sheffield Children’s Hospital’s B-Floor garden development, over £60k towards medical equipment and patient workshops, and the first installment of a £50k pledge towards research. We remain grateful to all those organisations who have continued to support us over the past 12 months, enabling Sheffield Children’s to remain at the forefront of paediatric care.

Legacies

16% of the income raised during 2023/24 was raised thanks to legacy donations, totalling more than £630k. 154 wills were created with the Charity’s partnership with Irwin Mitchell Solicitors, raising £4.5k

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Annual Report 2023/24 Back to contents Highlights Awards Charity of the Year The Yorkshire Children of Courage Awards 2023 Outstanding Achievement (for supporter Layton Cawthorne) The Yorkshire Children of Courage Awards 2023 ~~—~~ Special Recognition Award (for ambassador Alex Gardner) Charity Today Awards 2023 ~~a~~ Fe 23 The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

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Funded Project Highlights

Helipad

In Summer 2024, children who need emergency medical care will benefit from a new £6m helipad on the roof of Sheffield Children’s Hospital thanks to the generosity of the public, charities and local businesses supporting The Children’s Hospital Charity.

Fundraising for a helipad began in 2018 as part of the wider Build it Better capital appeal, which ambitiously seeks to deliver a number of projects to build a better future for everyone who visits the Trust. In 2023, the Charity secured the final funding needed to reach the £6million target for the helipad project. This sum was achieved through the Charity’s tireless work with grant making bodies, patients, families, colleagues, corporate partners and fundraisers. We are so grateful to all supporters and donors, including the BNA Charitable Trust and Westfield Health, who donated £50,000 and £95,000 respectively. A huge contribution to the appeal also came via a generous donation from HELP Appeal, which totalled a staggering £2,812,500!

The helipad is a vital Charity funded project, and will crucially reduce delays for patients who need urgent critical care from across South Yorkshire, Derbyshire and Lincolnshire, as well as offering privacy and dignity.

Sheffield Children’s is one of only five dedicated Major Trauma Centres in England, and is open 24 hours a day, seven days a week. Air ambulances currently have to land in Weston Park, where trauma patients are then stretchered across a busy road under a police escort before entering the Emergency Department.

The helipad on the roof will also mean patients can land and be transferred any time, and in any weather.

Building work is almost complete, and the new helipad should be operational by Winter 2024.

It will allow Sheffield Children’s to become far more accessible as a regional centre. Air ambulances will be able to land directly onto the hospital, meaning patients will have quicker and easier access to the urgent care they need. The new helipad means we can get critically ill or injured patients to the right place, with the right team and provide vital early care and management. 24

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Funded Project Highlights

Specialist Equipment

In 2023/24 the Charity granted funding of over £270k for medical equipment at Sheffield Children’s, including:

Lung Function Testing Box - £56,328 eee

The Respiratory Physiology Service needed funds for new lung function equipment, in order to effectively diagnose, monitor and manage respiratory conditions in patients.

As one of few paediatric respiratory function testing centres in the UK, the new equipment allows the service to maintain and enhance its reputation for delivering the highest quality testing.

2x Sentec digital monitors - £15,000

2 x portable ultrasounds for ED and PICCU - £71,905

These have been funded by Clay Shoot 2023.

The Sonosite Ultrasound PX model has increased functionality to the existing version used. The PX model can be used on tiny premature babies, and can also be used to check any paediatric heart.

Most staff are trained to use the Sonosite ultrasounds, so they will enable staff to mange situations much more efficiently, which in turn will increase patient safety, especially in urgent and trauma cases.

Ryegate Hi-Lo Bed - £6,692

A brand new specialist bed has been provided for children with complex neuro-disabilities, multiple physical and learning disabilities, and life-limiting conditions.

The bed is two metres tall and is enclosed to give children a calming and safe environment. It has an adjustable height to make it easier to access for staff when preparing the bed and when caring for patients.

These special monitors measure how well lungs get oxygen in and carbon dioxide out.

Embrace, our specialist transport service, use these on each incubator in their ambulances as a non-invasive way of monitoring the breathing of babies who are being transferred.

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Funded Project Highlights

In 2024/25 the Charity will be funding:

Specialist MR1 ventilator - £33,500

The MRI suite requires special equipment to look after children safely while under anaesthesia.

This additional piece of equipment enables expert care of smaller and sicker babies whilst they are ventilated.

Laser pen - £7,750

The Charity will fund a second laser pen for our Haematology and Oncology Ward to provide treatment of oral mucositis for children under chemotherapy and radiotherapy.

Oral mucositis is one of the most common, debilitating complications of cancer treatments that can cause pain, inability to eat and increased risk of infection. Having an additional laser pen will enable us to treat more patients and offer continuous care.

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Funded Project Highlights

Art+ is our Charity-funded arts programme, which makes the clinical more comfortable by transforming our hospital’s walls and spaces with bright art and creative design, helping children recover in an environment tailored to them.

The programme also provides workshops for youngsters as a distraction aid before an operation or appointment, or to break up long stays on the wards.

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Funded Project Highlights

This year Art+ engaged over 1,640 patients, family members and staff in a variety of creative activities to improve wellbeing, and bring smiles to the wards. This included a sixweek workshop programme on the Neonatal Surgical Unit (NSU) with Concerteenies, who deliver specialist, quality live music for babies and their caregivers.

Significant investment has been made in the development of key spaces, with Art+ spending over £115k on the full refurbishment of 12 staff rooms, across five different sites at Sheffield Children’s, as well as the transformation of the Emergency Room at CAMHS ED. Improvements have also been made to Sheffield Childrens’ Clinical Research Facility. Focussing on the patient journey from arrival to departure, including reception, corridors, multiple treatment rooms and the playroom, Art+ worked with local designer, Jon Cannon, to give particular attention to the differing sensory needs of children attending the Facility, installing bespoke murals and furniture to create a gentle and welcoming environment.

Art+ also worked in partnership with Hybrid 3 and Becton School on a special edition of their ‘Story Bombs’ project. With support from the Hybrid 3 team, a fantastically diverse group of young people wrote, recorded and soundtracked their own podcast. The sessions were designed to be as inclusive as possible, with all patients able to contribute musically, and communicate their ideas using visual tools and support from school staff.

Colleague wellbeing continues to be a priority, with 2023 seeing the return of the popular Art+ festive wreath making sessions for colleagues at Sheffield Children’s. These were attended by more staff than ever before and received overwhelmingly positive feedback from participants.

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Funded Project Highlights

Research

In 2023/24 the Charity supported research roles & projects, from developing new medicines to pioneering health technologies, research is fundamental in ensuring that we provide the best treatment possible for patients in our care.

Through research studies, children and young people can access the latest treatments and technology, to provide the most up to date care for our patients. Sheffield Children’s has established itself as an international leader in the field, having been successful in developing cutting edge therapies across a wide range of specialist areas.

Our Clinical Research Facility is home to pioneering paediatric trials across a wide portfolio of clinical specialities, such as Sheffield Dermatology Research, which is one of the leading centres, internationally, for clinical trials. An integrated service for atopic dermatitis has been developed to help manage the most complex patients by combining treatment, allergy and immunology, and psychiatry.

Research Fellow in Sleep Medicine and Narcolepsy

£16,000

This Charity-funded role will support an exciting new project with Cambridge University, which aims to provide the most comprehensive clinical description of childhood narcolepsy to date, and investigate causative factors, with the goal of finding new treatment strategies.

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Funded Project Highlights

Gene Therapy study into a rare type of brittle bone disease known as ColeCarpenter Syndrome

£63,075

Cole-Carpenter syndrome was first identified in two infants with multiple bone deformities in 1987. Thanks to changes in gene screening in 2015 the two patients were reported to have changes in one of their genes, showing that this was the cause of the syndrome.

This research aimed to understand and find new treatments for Cole-Carpenter syndrome by creating an animal model. Sheffield Children’s has expertise in clinical genetics and bone diseases, so these were brought together to develop a new zebrafish model. The model allowed the research team to investigate new drugs that improve bone development. The initial study has allowed the team to apply for further funding with other research bodies, so these results can eventually be fed back into clinical care and improve the quality of life for patients suffering from these bone conditions.

A pilot study into ventilation for children with bronchitis £42,144 using an MRI

Protracted bacterial bronchitis (PBB) is an infection in the lungs causing children to have a wet cough for more than four weeks. PBB is also known to start before, and cause other, lung diseases, and to affect children’s quality of life.

It is difficult to know if a child has PBB. It is normal to have to perform a bronchoscopy (looking in the lungs with a camera) and a type of lung scan called a CT to diagnose PBB. CT stands for Computed Tomography and is a medical imagery technique used to obtain detailed internal images. These tests involve children being put to sleep under general anaesthetic, or exposed to radiation, and so are not performed often. It is difficult to treat the condition and antibiotics are given for many weeks to help children get better. The only way to know if a child is better is when their parents report their cough has improved which is often unreliable.

In this study, children breathed in a gas called xenon, and the research team took pictures of children’s lungs using a type of scan called MRI instead. This is a safe alternative, which eliminated the need for general anaesthetic, and meant children were not exposed to radiation. If there was phlegm blocking parts of the lungs, the gas was unable to get through and the team could still identify any blockage. to get through and the team could see the blockage. This type of picture has been proven the best way to measure early lung disease in children so this study aims to test if it is suitable for PBB too.

The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

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Funded Project Highlights

A study into the characteristics of childhood narcolepsy

£10,309

The Narcolepsy team at Sheffield Children’s are leaders in their work, with children travelling from hundreds of miles to receive care with them. Narcolepsy is a lifelong neurological sleep disorder, characterised by excessive daytime sleepiness and attacks of muscle weakness triggered by emotions. Children experience fractured nighttime sleep, hallucinations, sleep paralysis and weight gain. These symptoms have a detrimental effect on mental health, quality of life, relationships, and school performance. There is a lack of research methods for improving the lives of children with narcolepsy.

The series of studies conducted at Sheffield Children’s aimed to provide the most comprehensive clinical description of childhood narcolepsy to date and investigate potential causes, with the aim of finding new treatment strategies.

Is a type of fluorescent imaging safe and accurate for £23,410 predicting testicular torsion?

Testicular torsion is a time critical condition for children and young people and is difficult to diagnose.

Missing it means that a child will lose a testicle. Currently there are no good diagnostic tests, only tests that delay the child’s journey to theatre, which puts them at further risk of losing the testicle. Most boys with a painful testicle get a surgical exploration to see if it is torsion and to twist and fix it. Up to 85% of children having this surgery will not have testicular torsion and will not have needed surgery at all. Charity funding has allowed researchers to test whether a new, low risk, fast investigation through specialist fluorescent imaging can be used to diagnose the problem, meaning no torsions are missed and less children have unnecessary surgery.

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Financial Review

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At a Glance

Our financial performance in year: the Statement of Financial Activities at a glance.

For the year 2023/24, our total income from all sources decreased by £76k when compared to 2022/23, in what has been a challenging year for fundraising due to continued pressure on the cost of living. Expenditure on the much-anticipated Helipad project crystalised in 2023/24 resulting in a higher income-cost ratio for the year.

For a number of years the Charity has been fundraising to construct a helipad at Sheffield Children’s, building up enough funds for this large capital project. The works to construct the new helipad took place throughout 2023/24, and so funding was distributed to the Trust to fund this project at various points throughout this financial year. This means that expenditure on Charitable Activities is much higher than in previous years.

----- Start of picture text -----
Income 2023/24 2022/23
Donations and Legacies £3,021,875 £3,421,029
Other Trading Activities £687,344 £532,991
Investments £300,765 £131,531
Other Income £0 £0
Total Income £4,009,984 £4,085,551
Expenditure 2023/24 2022/23
Charitable Activities £5,313,647 £2,018,800
Raising Funds £1,695,345 £1,453,686
Other £27,346 £27,342
Total Expenditure £7,036,338 £3,499,828
2023/24 2022/23
Net Gain / (Loss) on
£133,396 (£265,161)
Investments
Total Net Income /
(£2,892,958) £320,562
(Expenditure) for Year
Funds carried forward from
£11,392,645 £11,072,083
prior year
Closing Funds for Year £8,499,687 £11,392,645
Build a Better Future Capital
£2,607,744 £6,817,724
Appeal carried forward
Other funds carried forward £5,891,943 £4,574,921
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The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

At a glance

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How much income did we raise?

The Children’s Hospital Charity can only continue to support the leading work of Sheffield Children’s NHS FT for as long as we generate the level of funds required.

Most of our income is sourced from the efforts of the general public, made possible by our hard working and dedicated fundraising team.

Other trading activities

Charity organised events raised £493k (2022/23: £329k). The sale of merchandise & giftware on the hospital site, online or at till points, and royalties raised £195k (2022/23: £204k).

Donations and legacies

Investments

Our largest source of income is the generosity of public and local companies keen to support the local community and invest in the future of one of the regions greatest assets. In detail:

Corporate donations and gifts from the public (£1,944k) (2022/23: £1,697k) - the charity is extremely grateful to the companies, groups and individuals that have donated in 2023/24 and who have given their time, money and effort to push their fundraising to the maximum. Thousands of donations were received this year, via a multitude of channels such as Just Giving, Facebook and personal cheques, ranging from pennies to many thousands of pounds.

Major gifts (£243k) (2022/23: £164k) - The charity is indebted to our philanthropic supporters, (including Children Champions) who form a unique group of individuals, companies and private family trusts all sharing in one passion, to help our patients and

Prudent management of funds not immediately required by the Trust and held in an investment portfolio (managed by Investec Plc.) has generated interest, dividend and disposal income of £54k in year (2022/23: £118k). Fund management reports a gain on investments of £133k (2022/23: £265k loss).

Investments are secured in a low-medium risk portfolio. The charity is committed to maintaining a broad investment portfolio to generate long term income and capital growth.

Current account interest £25k (2022/23: £14k). Treasury Call Account £222k (2022/23: £0).

Trusts (£203k) (2022/23: £978k) - We are extremely grateful to all the Trust and Grant Making organisations who generously donated during 2023-24. Our income was lower than prior years due to the completion of the Helipad Appeal, which culminated in a gift of £563k.

Legacies (£631k) (2022/23: £582k)- gifts arising from wills form a significant part of the charities income profile and are an important investment in the future of the health of the children served by the Trust.

The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

Our costs

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What are our costs?

Charitable Activities

These are costs related to allowing the charity to meet its objectives. These include direct costs and grants of charitable expenditure, as well as indirect costs associated with charitable expenditure such as salaries.

Medical research (£201k) (2022/23: £95k) - we have committed to 4 research projects plus AWRC funding & continued PhD support.

Department / Ward funds (£248k) (2022/23: £159k) - funds supplied to individual wards and departments have been utilised to provide crucial support groups for patients and parents, essential staff training and new equipment (medical and non-medical) that would otherwise not have been able to have been purchased without the support of our charity.

Raising Funds

Costs relating to the running of activities designed to raise funds for the Sheffield Children’s NHS FT including salaries for staff not performing charitable activities, training, IT costs, travel and expenses for volunteers and professional fees for the charity such as insurance and accountants.

Costs are allocated to the costs of raising donations and charitable activities on the basis of staff time. Raising funds includes trading expenditure, such as purchasing charity merchandise.

Restricted funds £149k (2022/23: £83k) were used to fund equipment (medical and nonmedical), support staff, patient wellbeing & bespoke Art+ workshops as per the donors’ wishes.

Annual projects (£153k) (2022/23: £149k) - projects include the Art+ scheme (inclusive of salaries and workshops), Christmas gift giving for wards and departments and additional resources to enable Play Specialists to enhance the hospital experience for patients and their loved ones.

Capital expenditure (£4,495k) (2022/23: £1,505k) - Helipad building works.

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Our financial health: the Balance Sheet at a glance

The assets and liabilities of our charity as at 31st March 2024 are stated below:

----- Start of picture text -----
2023/24 2022/23
Fixed Assets £6,759,421 £6,631,278
Net Current Assets £1,740,266 £5,074,976
Non Current Liabilities £0 (£313,609)
Total Net Assets £8,499,687 £11,392,645
Unrestricted Undesignated
£3,123,280 £2,183,272
Income Funds
Unrestricted Designated
£4,669,344 £6,786,334
Income Funds
Restricted Income Funds £661,779 £2,337,444
Profit Retained in Subsidiary £45,284 £85,595
Total funds £8,499,687 £11,392,645
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Fixed assets

Predominantly comprise of investments held in a low-risk portfolio, managed by Investec Wealth and Investment Limited, an intangible asset relating to our ThankQ Customer Relationship Management software, and IT server forming a tangible asset, and Marlborough House office space (purchased in 2019/20).

Net current assets

Represent cash held on deposit plus other assets of the charity reasonably expected to be turned into cash, such as trading stock and debts due to be recovered, less any outstanding liabilities and expenses chargeable in year.

Unrestricted undesignated income funds

Such funds available to be spent at the discretion of the Charity and its Trustees with nonbinding preferences of donors.

Unrestricted designated income funds

Consist of 86 separate funds, which have been set up to channel the specific intentions of gifts received towards wards, departments and projects. Through designation of these funds, we ensure that the gifts are spent in those specific areas of the Trust.

Restricted income funds

Represent money which we can only use for specified purposes, as per the donor’s wishes

Profit retained in subsidiary

This relates to retained profits from the Theo Bear trading subsidiary.

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How do we manage our funds?

The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

Financial ReviewThe Children’s Hospital Charity How do we manage our funds?

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How do we manage our funds?

Reserves Policy

Reserves describe that part of our charity’s funds which are freely available and exclude restricted funds, endowments and any part of unrestricted funds not readily available for spending such as fixed assets. Trustees have established a reserves policy in order to:

honour our commitments and deliver our business plan
establish and provide long term support to Sheffield Children’s NHS FT
protect the continuity of our work in the event of a shortfall in income

Reserves at the end of the reporting period are calculated as follows:

----- Start of picture text -----
2023/24 2022/23
Total Unrestricted Funds of £7,837,908 £9,055,201
Less: Designated Funds of £4,669,344 £6,786,334
Less: Fixed Assets of £497,188 £526,344
Total Reserves £2,671,376 £1,742,523
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provide the funds needed to replace assets of the charity

The charity aims to hold undesignated reserves sufficient to cover six months operational costs with an aspiration to hold more where there is no impact on immediate funding requirements. On this basis the estimated requirement for six months’ operational expenditure, including wages and core running costs, equates to circa £450k. Designated funds for specific projects could potentially be redirected if the need arose.

Available reserves are calculated as the part of our charity’s unrestricted funds freely available after accounting for designated funds earmarked for specific projects. At the year end, Trustees have maintained somewhat higher general unrestricted, undesignated reserves in the knowledge that the funding requirement for the Build a Better Future appeal is a significant commitment and specific funding requirements are being agreed with the Trust. Funding will be designated when project costs are known and required.

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Grant Making Policy

Funded projects are decided upon by the Trustees of the charity in line with our objectives. Projects we fund must support and enhance the work of the Trust and not undermine the provision of the NHS. Grants are made in accordance with charity law, our constitution and the wishes and directions of donors. In making grants, we endeavour to reflect the wishes of patients and staff by directing funds towards areas most in need.

General funds (undesignated) – these funds are received by the charity with no particular preference expressed by donors. Grants can be targeted on projects in areas of the hospital that do not have available designated funds to assist them.

Designated funds – are established for a particular part of the hospital or activity nominated for support. Hospital staff are encouraged to identify how they may best utilise the funds available, these funds can be spent at any time.

Risk Management

Our Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust and are satisfied that systems are in place to mitigate our exposure to the major risks.

A key risk for the charity is the current economic climate and the uncertainty surrounding global events, such as conflict overseas and the rising cost of living. These risks are mitigated through regular review of the investment portfolio with investment managers to ensure the level of risk within the investments held is minimised and ethical considerations are met. With this in mind, Trustees have a risk- adverse approach to investments, maintaining a low risk portfolio. Future financial performance and position is likely to be determined by the state of the economy, both in terms of the success and stability of the investments held, as well as the level to which donors feel as though they are able to support our charity. While steps can be taken to manage the risk, the risk still remains and could make achievement of our objectives challenging in both the short to medium term.

Designated research funds – these are funds which are designated for specified research projects. Applications are invited once per year. Grants are normally awarded for between twelve months and three years.

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Report of The Management Committee 2023/24

The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

The Children’s Hospital Charity Report of the Management Committee 2023/24

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The Management Committee present their annual report together with the consolidated financial statements of the Charity and its subsidiary for the year ending 31 March 2024 which are also prepared for Companies Act purposes.

Management Committee Trustees

Jonathan McMahon (Chair) (appointed 31st July 2023) Professor David Barnett

Ruth Brown

Professor Cynthia Offiah

Mark Rooker

John Warner

Rachel White

The financial statements comply with the Charities Act 2011, the Companies Act 2016, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The Directors of the charitable company are its Trustees for the purposes of charity law. The Trustees who have served during the year and since the year end are detailed in the Reference and administrative details opposite.

Since the Charity qualifies as small under section 383, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Director’s Report) Regulations 2013 is not required.

Paul Firth (Chair) (resigned 31st July 2023)

Sarah Jones (resigned 31st December 2023)

Charity Registration Number: 505002

Company Number: 01224751 (England and Wales)

Registered Office and Address of Principal Office:

The Children’s Hospital Charity, Sheffield Children’s Hospital, Western Bank, Sheffield, S10 2TH

Company Secretary: John Armstrong (also Chief Executive Officer) Auditors: Hawsons Chartered Accountants, Pegasus House, 463A Glossop Road, Sheffield, S10 2QD

Bankers: Lloyds TSB Bank plc, Church Street, Sheffield, PO Box 1000, BX1 1LT

Investment Management: Investec, Beech House, 61 Napier Street, Sheffield, S11 8HA

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Our Fundraising Practices

The Children’s Hospital Charity aim for the highest standards in all fundraising activities undertaken. Our dedicated team of fundraisers organise fundraising events and co-ordinate the activities of our supporters across the hospital and in the wider community both regionally and beyond. During the year, the Charity has not used a professional fundraiser or commercial participator to carry out any of its fundraising activities.

We are registered with the Fundraising Regulator and are committed to complying with its Fundraising Promise for their donors and the public. The Charity have agreed to ensure their fundraising is legal, open, honest and respectful and that the Fundraising Regulator badge is displayed on fundraising material to show the commitment to good practice.

During the year we received no formal complaints as a result of our fundraising activities. We do, however, know that there may be times when we don’t meet our own high standards. If this does happen, we want to know about it, deal with it and hopefully stop it from happening again. We take complaints very seriously and we are always grateful to hear from people who are willing to take the time to help us be even better. Details of our complaints procedure is available on The Children’s Hospital Charity website.

The Children’s Hospital Charity do not accept donations if they know or have good reason to believe that a donor lacks capacity to make a decision to donate, or is in vulnerable circumstances and therefore unable to make an informed decision. Under 18s cannot independently fundraise for the Charity without an adult.

Our team will do all they can to ensure that their fundraisers, volunteers and any third parties comply with all fundraising regulations and this promise to their supporters. The Charity does not carry out telephone or door to door fundraising, ensuring that activities are not unreasonably intrusive or persistent. During the year there have been no failures to comply with the standards.

The Children’s Hospital Charity is registered with the Fundraising Preference Service (FPS) and donors can update their fundraising mailing preferences through this scheme at any time. We monitor donations made to our charity using our CRM donor management system.

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Our Structure, Governance and Management

The Children’s Hospital Charity is a registered charity, number 505002, and a company limited by guarantee. It is governed by its Memorandum & Articles of Association (dated 1975 and subsequently in 2017).

The members of the Management Committee, as defined in the memorandum and articles, act as the Directors of the company and, as the organisation is a registered charity, act also as its charitable trustees. The members of the company are responsible for the election of the Management Committee.

Members of the Management Committee are elected for a four year period and can be eligible for re-election at the third AGM. Newly appointed members are instructed in their duties by the Chair of the Charity and the Charity Director issues a Trustee Pack that informs them of their legal responsibilities and the expectations from the Charity in their role as Trustee.

Organisational Structure

The Children’s Hospital Charity is currently administered by a board of 8 unpaid Trustees which is made up of representatives from the hospital and the wider community. The Chief Executive Officer reports directly to The Board of Trustees and manages the day-to-day business of the Charity along with 35 employees (25 full-time, 10 part-time) and several regular volunteers.

Trustees are elected or co-opted by the Board for terms of up to 4 years (renewable) in accordance with the updated Articles of Association dated June 2016 (subsequently updated in 2017)

Key management personnel as described throughout are the members of the senior management team who control the day-to-day operation of the Charity. The pay for the Chief Executive Officer is agreed by the Charity Trustees and the pay and conditions for the rest of the key management personnel is set by the Chief Executive Officer, with overall budget agreed with Trustees. The pay and conditions of key management personnel are benchmarked against similar positions in the sector.

Members of the Management Committee at the date of approval of this report are listed on page 41. Each member has an equal voting right.

No Trustee received any remuneration from the Charity in the financial year 2023/24.

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Report of the Management Committee 2023/24

Responsibilities of Our Management Committee

The Management Committee (who are also directors of The Children’s Hospital Charity for the purposes of company law and trustees for the purposes of charity law) are responsible for preparing the Management Committees’ Annual Report (including the Strategic Report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Management Committee to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Management Committee are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP 2019 (FRS102);

In so far as the Management Committee are aware:

there is no relevant audit information of which the charitable company’s auditor is unaware; and

• the Management Committee have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Auditors

Hawsons have indicated that they are willing to be reappointed at the forthcoming Annual General Meeting. We approve Trustees’ Annual Report in our capacity as company directors.

make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

The Management Committee are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

On behalf of the Management Committee

Jonathan Mcmahon Chairman

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Independent Auditors’ Report to the Trustees of The Children’s Hospital Charity Ltd

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Independent Auditors’ Report

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Opinion

We have audited the financial statements of The Children’s Hospital Charity (‘the group and parent charitable company’) for the year ended 31 March 2024 which comprise the Consolidated Statement of Financial Activities, the Statement of Financial Activities, the Group and Parent Charitable Company Balance Sheets, Consolidated Statement of cash flows, notes to the financial statements and significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 ‘The Financial Reporting Standard applicable in the 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 group and parent charitable company’s affairs as at 31 March 2024 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 Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) 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 group and parent charitable company in accordance with the ethical requirements 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 auditing the financial statements, we have concluded that the trustees’ use of the going concern basis 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 events or conditions that, individually or collectively, may cast significant doubt on the group and parent charitable company’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, including the trustees’ report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. 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.

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 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 determine (Cont.)

The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

Independent Auditors’ Report

Annual Report 2023/24

whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, 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.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

• the information given in the trustees’ report is inconsistent in any material respect with the financial statements; or

sufficient accounting records have not been kept; or
the financial statements are not in agreement with the accounting records; or
we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 44, 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 statements, the trustees are responsible for assessing the group’s and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group and parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 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 auditor’s 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, individually or in the aggregate, they could reasonably be expected to influence the economic decisions

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, 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:

(Cont.)

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The group and parent charitable company is subject to laws and regulations that directly and indirectly affect the financial statements. Based on our understanding of the group and parent charitable company and the environment it operates within, we determined that the laws and regulations which were most significant included FRS 102 and the Charities Act 2011. We considered the extent to which non-compliance with these laws and regulations might have a material effect on the financial statements, including how fraud might occur.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to the posting of inappropriate journal entries to improve the group and parent charitable company’s result for the period, and management bias in key accounting estimates.

Audit procedures performed by the engagement team included:

•Discussions with management and those responsible for legal compliance procedures within the group and parent charitable company to obtain an understanding of the legal and regulatory framework applicable to the group and parent charitable company and how the group and parent charitable company complies with that framework, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;

•Reviewing minutes of Trustee meetings;

•Identifying and assessing the design effectiveness of controls that management has in place to prevent and detect fraud and non-compliance with laws and regulations;

•Challenging assumptions and judgements made by management in their significant accounting estimates.

•Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations or posted by senior management.

audit-assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-of-theauditor’s-responsibilities-for. This description forms part of our auditor’s report.

Hawsons Chartered Accountants is eligible for appointment as auditor of the group and parent charitable company by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

Use of our report

This report is made solely to the group and parent charitable company’s trustees, as a body, in accordance with section 144 of the Charities Act 2011. 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 auditor’s 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 group and parent charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Hawsons Chartered Accountants

Statutory Auditor

Pegasus House

463a Glossop Road

Sheffield S10 2QD 11/11/2024 Date:

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.org.uk/auditors/

The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

Consolidated Statement The Children’s Hospital Charity of Financial Activities

Annual Report 2023/24

Back to contents

The Consolidated Statement of Financial Activities (Incorporating an Income and Expenditure Account) For the year ended 31 March 2024

----- Start of picture text -----
Unrestricted Restricted 31 March 2024 31 March 2023
Income and endowments from Note
Funds £ Funds £ £ £
Donations and Legacies 3 2,769,739 252,136 3,021,875 3,421,029
Other trading activities 3 687,344 - 687,344 532,991
Investments 2, 3 300,765 - 300,765 131,531
Total 3,757,848 252,136 4,009,984 4,085,551
Expenditure on
Raising Funds 2, 4, 5 1,695,345 - 1,695,345 1,453,686
Charitable activities 4 3,385,846 1,927,801 5,313,647 2,018,800
Other 4 27,346 - 27,346 27,342
Total 5,108,537 1,927,801 7,036,338 3,499,828
Net gains/(losses) on investments 11 133,396 - 133,396 (265,161)
Net (expenditure)/income (1,217,293) (1,675,665) (2,892,958) 320,562
Transfers between funds - - - -
Net movement in funds (1,217,293) (1,675,665) (2,892,958) 320,562
Reconciliation of funds
17, 18 9,055,201 2,337,444 11,392,645 11,072,083
Total funds brought forward
Total funds carried forward 7,837,908 661,779 8,499,687 11,392,645
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All incoming resources and resources expended derive from continuing activities.

The statement of financial activities includes all gains and losses recognised during the year.

The notes on pages 54-83 form part of these accounts.

The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

Statement of The Children’s Hospital Charity Financial Activities

Annual Report 2023/24

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Statement of Financial Activities (Incorporating an Income and Expenditure Account) For the year ended 31 March 2024

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Unrestricted Restricted 31 March 2024 31 March 2023
Income and endowments from Note
Funds £ Funds £ £ £
Donations and Legacies 3 2,769,739 252,136 3,021,875 3,421,029
Other Trading Activities 3 492,836 - 492,836 329,477
Investments 3 376,072 - 376,072 878,770
Total Income 3,638,647 252,136 3,890,783 4,629,276
Expenditure on
Raising Funds 4, 5 1,535,833 - 1,535,833 1,325,479
Charitable activities 4 3,385,846 1,927,801 5,313,647 2,018,800
Other 4 27,346 - 27,346 27,342
Total resources expended 4,949,025 1,927,801 6,876,826 3,371,621
Net gains/(losses) on 11 133,396 - 133,396 (265,161)
investments
Net income (1,176,982) (1,675,665) (2,852,647) 992,494
Transfers between funds - - - -
Net movement in funds (1,176,982) (1,675,665) (2,852,647) 992,494
Reconciliation of funds
17, 18 8,969,606 2,337,444 11,307,050 10,314,556
Total funds brought forward
Total funds carried forward 7,792,624 661,779 8,454,403 11,307,050
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All incoming resources and resources expended derive from continuing activities.

The statement of financial activities includes all gains and losses recognised during the year.

The notes on pages 54-83 form part of these accounts.

The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

Annual Report 2023/24 Back to contents ~~OO588 ee~~ Balance Sheet CO ~~a~~ The Group The Charity The notes on pages

The Children’s Hospital Charity Balance Sheet ~~ee~~

Note	Note	The Group ~~a~~	The Group ~~a~~	The Charity ~~a~~	The Charity ~~a~~
	Note	31 March 2024 £ ~~a~~	31 March 2023 £ ~~a~~	31 March 2024 £ ~~a~~	31 March 2023 £ ~~a~~
Fixed assets ~~Ld~~
Intangible assets Tangible assets Investments	9 10 11	49,676 447,512 6,262,233	62,015 464,329 6,104,934	49,676 447,512 6,265,233	62,015 464,329 6,107,934
Total fixed assets		6,759,421	6,631,278	6,762,421	6,634,278
Current Assets ~~Ld~~
Stocks Debtors Cash at bank and in hand	2, 13 2, 12	35,413 834,371 2,517,141	48,307 661,616 6,508,986	- 918,618 2,401,856	- 796,809 6,312,248
Total current assets		3,386,925	7,218,909	3,320,474	7,109,057
Liabilities ~~Ld~~
Creditors falling due within one year	2, 14	(1,646,659)	(2,143,933)	(1,628,492)	(2,122,676)
Net current assets		1,740,266	5,074,976	1,691,982	4,986,381
Creditors falling due after one year	2, 15	-	(313,609)	-	(313,609)
Total net assets or liabilities	8,499,687 11,392,645 8,454,403 11,307,050	8,499,687	11,392,645	8,454,403	11,307,050
The funds of the Charity ~~Ld~~
Unrestricted income funds Restricted income funds	17 18	7,837,908 661,779	9,055,201 2,337,444	7,792,624 661,779	8,969,606 2,337,444
Total funds		8,499,687	11,392,645	8,454,403	11,307,050

The notes on pages 54-83 form part of these accounts.

For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of the accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

As this company is a charity, it is subject to audit under the Charities Act 2011.

Approved and authorised for issue by the Management Committee on 7[th] October 2024 and signed on its behalf by:

Goro.

Mr J McMahon, Chairman

The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

Consolidated Cash The Children’s Hospital Charity Flow Statement

Annual Report 2023/24

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Consolidated Cash Flow Statement as at 31 March 2024

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31 March 2024 31 March 2024 31 March 2023 31 March 2023
£ £ £ £
Cash flows from operating activities:
Net cash provided by (used in) operating activities (3,853,609) 441,041
Loans received - -
Repayment of bank borrowings (319,641) (8,699)
Interest paid (13,275) (13,963)
Net cash provided by (used in) financing activities (332,916) (22,662)
Cash flows from investing activities:
Payment to acquire tangible fixed assets (14,261) (21,293)
Purchase of investments (5,398,682) (4,190,330)
Sale of investments 5,259,510 1,605,597
Investment cash movement 115,269 (12,994)
Interest receivable 95,051 15,681
Dividends receivable 137,793 99,834
Net cash provided by (used in) investing activities 194,680 (2,503,505)
Net (decrease) in cash and cash equivalents (3,991,845) (2,085,126)
Cash and cash equivalents at 1 April 2022 6,508,986 8,594,112
Cash and cash equivalents at 31 March 2023 2,517,141 6,508,986
Cash and cash equivalents consists of:
Cash at bank and in hand 2,517,141 6,508,986
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The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

Reconciliation of net income The Children’s Hospital Charity to net cash flow from operating activites

Annual Report 2023/24 Back to contents

Reconciliation of net income to net cash flow from operating activities

Analysis of changes net debt

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2024 2023 2024 Cash Flows
£ £ £ £
Net (expenditure)/income for the
Cash at bank and in hand 2,517,141 (3,991,845)
reporting period (as per the statement (2,892,958) 320,562
of financial activities)
Borrowings
Dividends recieved (137,793) (99,834)
Bank borrowings due within - 6,032
Interest recievable (95,051) (15,681) one year
Interest payable 13,275 13,963 Bank borrowings due after - 313,609
one year
(Gains)/losses on investments (133,396) 265,161
Total net debt 2,517,141 (3,672,204)
(Increase)/decrease in stock 12,894 (15,870)
(Increase)/decrease in debtors (172,755) (36,975)
Increase/(decrease) in creditors (491,242) (29,709)
- -
Loss on disposal
Depreciation and amortisation charge 43,417 39,424
Net cash flow from operating activities (3,853,609) 441,041
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----- Start of picture text -----
2024 Cash Flows 2023
£ £ £
Cash at bank and in hand 2,517,141 (3,991,845) 6,508,986
Borrowings
Bank borrowings due within - 6,032 (6,032)
one year
Bank borrowings due after - 313,609 (313,609)
one year
Total net debt 2,517,141 (3,672,204) 6,189,345
----- End of picture text -----

The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

Annual Report 2023/24

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Notes to the financial statements For the year ended 31 March 2024

The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

Notes to the The Children’s Hospital Charity

Annual Report 2023/24 Back to contents

1. Accounting policies

Basis of Preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) as updated through Update Bulletin 1 published on 2 February 2016, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice.

Statutory Information

The Children’s Hospital Charity Ltd is a charity (No. 505002) and a company limited by guarantee (No. 01224751) incorporated and domiciled in England and Wales. The registered office is at The Children’s Hospital Charity, Western Bank, Sheffield, S10 2TH.

Company Status

The charity constitutes a public benefit entity as defined by FRS 102.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include listed investments at market value. The financial statements are prepared in sterling which is the functional currency of the charity.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Basis of Consolidation

The consolidated statement of financial activities and balance sheet include the financial statements of the charity and its subsidiary undertaking made up to 31 March 2024. The results of the subsidiary are consolidated on a line by line basis.

The charity is a private company limited by guarantee. In the event of being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

Funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The

The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

Notes to the

Annual Report 2023/24

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Accounting policies continued.

Government Grants

Grants that relate to the financing of projects to expand the operations of the business are amortised over the expected useful economic lives of the assets or projects concerned. Grants relating to the revenue expenditure are credited to income where receivable.

Incoming resources

Incoming resources are included in the Statement of Financial Activities when the Charity has entitlement to the funds, any performance conditions have been met, the amount can be measured reliably and it is probable that income will be received.

Receipt of a legacy is recognised when it is probable that it will be received. Receipt is normally probable when:

there has been a grant of probate;
the executors have established that there are sufficient assets in the estate, after settling any liabilities, to pay the legacy; and

Donated Goods, Facilities and Services

Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably, and the Charity has control over the item. Fair value is determined on the basis of the value of the gift to the Charity. For example, the amount the Charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.

Sheffield Children’s NHS Foundation Trust provides some office accommodation, facilities and administration support to the Charity free of charge.

Use of Volunteers

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees’ Annual Report.

A notional amount of time is donated by volunteers to assist with fundraising and administrative support. Periodically, goods (such as toys and Easter eggs) are donated to the Charity and are impractical to value.

any conditions attached to the legacy are either within the control of the charity or have been met.

Fundraising and Trading Activities

Going Concern

The Financial statements have been prepared on a going concern basis as the Trustees believe that, while the charity faces a significant challenge to its operating environment, no material uncertainties exist. The charity Trustees have considered the level of funds held, and the expected level of income and expenditure for the 12 months from authorisation of these financial statements to enable the charity to be able to continue as a going concern.

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the Charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

Notes to the

Annual Report 2023/24

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Accounting policies continued.

Investment Income

Investment income is earned through holding assets for investment purposes such as shares and gilts. It includes dividends and interest. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend income is recognised as the Charity’s right to receive payment is established.

The Trustees have considered the most appropriate policy for the investment of funds and decided to invest in a low-risk portfolio of stocks, shares and gilts. Investments are stated at market value. The Statement of Financial Activities includes the net gains and losses arising on revaluations and disposals throughout the year.

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other Investments/ Investments in subsidiaries are measured at cost less impairment.

Resources Expended

All expenditure is accounted for on an accruals’ basis, except for grants, which are accounted for in the period in which the Charity makes a formal commitment to give grant aid.

Resources expended are allocated to the particular activity where the cost relates directly to that activity. The cost of overall direction and overhead costs of the central function are borne by the unrestricted fund.

Tangible/Intangible fixed assets and depreciation

Tangible/intangible fixed assets are stated at cost less depreciation. Intangible assets include software and trademarks and are only recognised when it is probable that future economic benefit will flow to the Charity and where the cost of the asset can be measured reliably. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Buildings - 25 years straight line

Office equipment – various rates between 20% and 33.3% straight line.

Intangible assets - 10 years straight line.

Assets are depreciated / amortised from the date at which they come into use by the Charity.

Designated funds

The Management Committee have designated certain funds for specific purposes. The movement on these funds is detailed in note 17.

Stocks

Stocks are valued at the lower of cost and net realisable value on a first in, first out basis.

The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

Notes to the

Annual Report 2023/24

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Accounting policies continued.

Irrecoverable VAT

Costs are recorded gross of VAT to the extent that VAT is not recoverable by the Charity.

Financial Instruments

Financial assets and financial liabilities which arise from contracts for the purchase or sale of non-financial items are recognised when performance occurs.

Pension costs

The Charity makes contributions to a defined contribution pension scheme. Contributions payable are charged to The Statement of Financial Activities in the period to which they relate.

Debtors

Debtors are measured on the basis of amount due less provision for doubtful debt. Debtors include prepayments and accrued income.

Judgements and Key Sources of Estimation Uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under other circumstances.

Critical accounting estimates and assumptions: the Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results.

Creditors

Creditors include amounts invoiced to the organisation but not yet paid, along with accrued expenditure and unspent research grants.

Liabilities are recognised when there is a legal or constructive obligation committing the Charity to that expenditure, it is probable that settlement will be required, and the amount of obligation can be measured reliably.

The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

Notes to the

Annual Report 2023/24 Back to contents

2. Results of trading subsidiary

The Charity has one wholly owned trading subsidiary, Theo Bear Trading Company Limited, a company incorporated in the UK. Its results are summarised below:

----- Start of picture text -----
2024 2023
£ £
Current assets
Stocks 35,413 48,307
Debtors 12,307 22,179
Cash in hand 115,285 196,738
Total 163,005 267,224
Creditors
Amounts falling due within one year (114,721) (178,629)
Net current assets 48,284 88,595
- -
Amounts falling due after more than one year
Total net assets or liabilities 48,284 88,595
Capital and reserves
Called up share capital 3,000 3,000
Retained earnings 45,284 85,595
Shareholder’s funds 48,284 88,595
----- End of picture text -----

----- Start of picture text -----
£ £
2024 2023
£ £ Current assets
Turnover 191,659 203,514 Stocks 35,413 48,307
Cost of sales (156,495) (125,838) Debtors 12,307 22,179
Gross profit 35,164 77,676 Cash in hand 115,285 196,738
Total 163,005 267,224
Administration expenses (3,017) (2,369) Creditors
Other operating income - - Amounts falling due within one year (114,721) (178,629)
Operating Profit/(loss) 32,147 75,307 Net current assets 48,284 88,595
Interest receivable 2,849 - Amounts falling due after more than one year - -
Retained Profit/(loss) for the year 34,996 75,307 Total net assets or liabilities 48,284 88,595
Capital and reserves
Retained profits brought forward 85,595 757,527 Called up share capital 3,000 3,000
Gift Aid distribution to Charity (75,307) (747,239) Retained earnings 45,284 85,595
Retained profit/(loss) carried forward 45,284 85,595 Shareholder’s funds 48,284 88,595
Net assets 45,284 85,595
59
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The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

Notes to the

Annual Report 2023/24

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3. Income

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Unrestricted Restricted 2024 2023
Donations and legacies
£ £ £ £
Donations and gifts 2,138,687 252,136 2,390,823 2,839,480
Legacies 631,052 - 631,052 581,549
Total Donations and legacies 2,769,739 252,136 3,021,875 3,421,029
Other trading activities
Trading income 194,508 - 194,508 203,514
Fundraising and event income 492,836 - 492,836 329,477
Total Other trading activities 687,344 - 687,344 532,991
Investment income
Dividends 137,793 - 137,793 99,834
Interest 95,051 - 95,051 15,681
Gain on disposal (179,142) - (179,142) 2,397
Current Account Interest 24,788 - 24,788 13,619
Treasury Call Account Interest 222,275 - 222,275 -
Gift Aid from Theo Bear Trading Company Limited 75,307 - 75,307 747,239
(removed on consolidation)
Total Investment income 376,072 - 376,072 878,770
----- End of picture text -----

The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

Notes to the

Annual Report 2023/24

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4. Expenditure

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Unrestricted Restricted 2024 2023
Expenditure on raising funds
£ £ £ £
Costs of raising donations 1,407,398 - 1,407,398 1,248,565
Trading company costs 159,512 - 159,512 128,207
Event costs 128,435 - 128,435 76,915
Investment related expenditure 27,346 - 27,346 27,342
Total Expenditure on raising funds 1,722,691 - 1,722,691 1,481,029
Grant Funding Support 2024 2023
Charitable activities
£ £ £ £
Designated Fund Grants 3,139,124 - 3,139,124 307,726
Restricted Fund Grants 1,927,801 - 1,927,801 1,578,143
Research: allocations 216,565 - 216,565 137,078
Research: written back (15,365) - (15,365) (42,429)
Support Costs - 45,522 45,522 38,282
Total Charitable activities 5,268,125 45,522 5,313,647 2,018,800
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The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

Notes to the

Annual Report 2023/24

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5. Resources expended

----- Start of picture text -----
2024 2023
£ £
Allocation of support costs
Governance 8,717 5,818
Information Technology 9,179 6,646
2024 2023
Governance costs
Human Resources 3,955 2,724 £ £
Office Costs 16,087 16,578 Auditor’s renumeration 15,313 12,000
Other 7,584 6,516 Other 26,197 24,361
Total Support costs 45,522 38,282 Total Governance costs 41,510 36,361
----- End of picture text -----

Governance costs	2024 £	2023 £
Auditor’s renumeration	15,313	12,000
Other	26,197	24,361
Total Governance costs	41,510	36,361

The basis of allocation is staff time spent.

6. Remuneration of the Management Committee

None of the Management Committee members received any remuneration or were reimbursed any out of pocket expenses in the year (2022/23: £0).

The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

Notes to the

Annual Report 2023/24 Back to contents

----- Start of picture text -----
2024 2023
£ £
Basic salary 947,485 735,591
Social Security costs 91,771 74,684
Pension costs 83,749 61,889
Total Staff costs 1,123,005 872,164
----- End of picture text -----

Total remuneration of key management personnel in the year was £400,302 (2022/23:£318,707).

Key management personnel comprises the Trustees and seven (2022/23: seven) members of the management team, which at the year end comprises the staff members listed below:

Head of Operations, Governance and Trading (new role from consolidation of two former roles 2022/23)

Head of Marketing

The average number of employees, calculated on a full-time equivalent basis, analysed by function:

Head of Community and Events Fundraising (new role 2022/23)

by function:
	2024	2023
Cost of raising voluntary income	24	20
Charitable activities	6	4
Total	30	24

Head of Strategic Partnerships (new role 2022/23)

Head of Art+ (new role 2022/23)

Head of Philanthropy, Trusts and Foundations (new role 2022/23)

The number of employees’ whose employee benefits (excluding employers pension costs) exceeded £60,000 was:

8. Pensions

costs) exceeded £60,000 was:
	2024	2023
In the band £60,001 - £70,000	-	-
In the band £70,001 - £80,000	1	1
Total	1	1

For all staff members the Charity operates a defined contribution pension plan. The amount recognised as an expense in year was £83,749 (2022/23: £61,889).

The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

Notes to the

Annual Report 2023/24

Back to contents

9. Intangible assets

10. Tangible fixed assets

----- Start of picture text -----
Cost £ Charity and
Charity and
Group Office Total
At 1 April 2023 123,374 Equipment Group Buildings £
£
£
Additions -
Cost
-
Disposals
At 1 April 2023 90,598 495,343 585,941
At 31 March 2024 123,374
Additions 14,261 - 14,261
Amortisation
At 31 March 2024 104,859 495,343 600,202
At 1 April 2023 61,359
Depreciation
Amortisation in year 12,339
At 1 April 2023 57,217 64,395 121,612
At 31 March 2024 73,698
Depreciation in year 11,264 19,814 31,078
Net book value at 31 March 2024 49,676
At 31 March 2024 68,481 84,209 152,690
Net book value at 31 March 2023 62,015
Net book value at 31 March
36,378 411,134 447,512
2024
Net book value at 31 March
Note: Amortisation in year expensed to the Cost of Raising Donations (£9,748) 2023 33,381 430,948 464,329
and Support Costs (£2,591).
----- End of picture text -----

----- Start of picture text -----
Charity and
Charity and
Group Office Total
Group Buildings
Equipment £
£
£
Cost
At 1 April 2023 90,598 495,343 585,941
Additions 14,261 - 14,261
At 31 March 2024 104,859 495,343 600,202
Depreciation
At 1 April 2023 57,217 64,395 121,612
Depreciation in year 11,264 19,814 31,078
At 31 March 2024 68,481 84,209 152,690
Net book value at 31 March
36,378 411,134 447,512
2024
Net book value at 31 March
33,381 430,948 464,329
2023
----- End of picture text -----

Note: Total Depreciation in year expensed to the Cost of Raising Donations (£24,552) and Support Costs (£6,526).

The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

Notes to the

Annual Report 2023/24

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Balance Balance
Expenditure and
1st April 2023 Incoming Resources Transfers 31st March 2024
Grants Committed
Designated: £ £ £ £ £
New Build - Artfelt (Museum cabinets) 598 - - (598) -
New Build - Artfelt (Phlebotomy Rooms) 2,945 - - (2,945) -
X-Ray Dept. (Artfelt) 6,465 - - - 6,465
Research - 196 (201,200) 201,004 -
Special Projects Grants 210,274 30,835 - - 241,109
Total designated funds 6,786,334 873,027 (3,333,303) 343,286 4,669,344
Undesignated funds 2,183,272 2,899,016 1,615,722 (343,286) 3,123,280
Total unrestricted funds - Charity 8,969,606 3,772,043 4,949,025 - 7,792,624
Profit retained in subsidiary 85,595 45,284
Total unrestricted funds - Group 9,055,201 7,837,908
Name of designated fund Description of designated fund
The Children’s Hospital Charity’s mission is to transform Sheffield Children’s NHS Foundation Trust
Building a Better Future (was Make it Better) with the Build a Better Future Appeal, transforming the Cancer Ward, Emergency Department, Child
Assessment Unit and build a new Helipad.
Other designated funds Any charitable purpose relating to the service or department specified in the name of the fund.
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Name of designated fund Building a Better Future (was Make it Better) Other designated funds

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18. Restricted funds

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Balance Balance
Expenditure & Grants
31st March 2023 Incoming Resources Transfers 31st March 2024
Committed
£ £ £ £ £
Artfelt Becton Courtyard 104,502 4,229 (15,650) - 93,081
- Art+ Workshops Art+ Anywhere - 2,125 - - 2,125
- Art+ Workshops Becton Grow - 5,078 - - 5,078
Artfelt Workshops Co-op Community Fund 109 - - - 109
Artfelt Workshops National Foundation for 7,501 286 (1,332) - 6,455
Youth Music
Artfelt Workshops The Freshgate Trust Fund 670 - (670) - -
Artfelt Workshops National Lottery Community 4,542 - (4,542) - -
Fund
Artfelt Workshops Sarah Nulty Power of Music - 2,000 (2,000) - -
Foundation
Artfelt Workshops St James’ Place Foundation 2,500 - (1,040) - 1,460
Artfelt Workshops The D’Oyly Carte Charitable 3,157 - (3,157) - -
Trust
Artfelt Workshops Wallace & Gromit’s 1,930 - - - 1,930
Children’s Foundation
- B-floor Garden - 100,417 (420) - 99,997
Bone Research 11,864 542 - - 12,406
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Cont.

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Restricted funds continued.

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Balance Balance
Expenditure & Grants
31st March 2023 Incoming Resources Transfers 31st March 2024
Committed
£ £ £ £ £
Chaplaincy 1,788 - - - 1,788
Child’s Play Charity Gaming Equipment - 3,832 (3,832) - -
Children’s Brain Disorders Research 3,056 - - - 3,056
Community Exercise Therapist 19,548 541 (8,853) - 11,236
Cystic Fibrosis (CFCF) 41,809 1,911 - - 43,720
Diabetes Type 1 8,467 387 - - 8,854
Helipad 1,491,727 37,578 (1,529,305) - -
Helipad BNA 50,000 928 (50,928) - -
Helipad Persimmons 100,000 1,856 (101,856) - -
Helipad Westfield Health 94,500 1,754 (96,254) - -
Leukaemia and Oncology Restricted 92,352 4,221 - - 96,573
Leukaemia Research 26,878 998 (8,701) - 19,175
Medical Equipment 92,057 62,494 (59,194) - 95,357
Memorial Garden - 50 - - 50
National Centre for Child Health Technology 21,938 1,851 - - 23,789
NCCHT
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Cont.

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Back to contents

Restricted funds continued.

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Balance Balance
Expenditure & Grants
31st March 2023 Incoming Resources Transfers 31st March 2024
Committed
£ £ £ £ £
Build it Better 593 - - - 593
Plastic Surgery 521 - - - 521
PLRS 52,781 5,231 (5,757) - 52,255
Research The Tom Bowdidge Youth Cancer - 7,279 - - 7,279
Foundation
Ryegate Centre Legacy 10,040 459 - - 10,499
Sleep Medical Equipment 27,784 248 (26,310) - 1,722
Speech Therapy 495 3,517 - - 4,012
Staycation Packs 6,976 319 - - 7,295
Toms Fund 3,838 - - - 3,838
Trust Projects The True Colours Trust 2,039 - (491) - 1,548
Trust Projects Yorkshire Childrens Hospital 19,812 906 - - 20,718
Fund (Sleep)
Uveitis Clinic 7,500 204 (3,548) - 4,156
Ward 6 (Build it Better) restricted donations 1,878 250 - - 2,128
Ward 6 Child’s Play 882 - - - 882
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Cont.

The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

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Restricted funds continued.

	Balance				Balance
	31st March 2023	Incoming Resources	Expenditure & Grants Committed	Transfers	31st March 2024
	£	£	£	£	£
Ward 6 IT & Electronic Equipment	3,300	-	-	-	3,300
Ward 6 Play & Distraction	10,107	449	-	-	10,556
Ward 6 Staf & Patient Support	8,003	196	(3,961)	-	4,238
	2,337,444	252,136	(1,927,801)	-	661,779

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Name of restricted fund Description of restricted fund
Artfelt Becton Courtyard To fund Artfelt refurbishment of Becton Courtyard.
Artfelt Workshops Co-op Community Fund To fund a series of bedside Theatre sketches & interactive games at the Becton centre.
To fund Artfelt Sounds, a programme of music performances and tutorials for patients across the
Artfelt Workshops: National Foundation for Youth Music
Trust.
Artfelt Workshops: The Freshgate Trust Fund To fund a series of circus workshops for patients.
Artfelt Workshops National Lottery Community Fund To fund the Artfelt Anywhere Project providing virtual workshops at patients bedsides.
Artfelt Workshops St James’ Place Foundation To fund Artfelt Anywhere programme.
Artfelt Workshops The D’Oyly Carte Charitable To fund art & music workshops at the Becton Centre.
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Cont.

The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

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Annual Report 2023/24

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Restricted funds continued.

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Name of restricted fund Description of restricted fund
To fund DJing sessions for patients in conjunction with the Physiotherapy Team which explore
Artfelt Workshops:Wallace & Gromit’s Children’s Foundation
movement and recovery.
Bone Research Any charitable purpose relating to Bone Research.
Building a Better Future (Ward 6 restricted) Funding towards the Cancer & Leukaemia Inpatient Ward development project.
Chaplaincy Any charitable purpose relating to the Chaplaincy.
Children’s Brain Disorders Research To fund research into children’s brain disorders, including salaries & equipment.
Community Exercise Therapist To fund an exercise and physical activity therapist in the community team.
Cystic Fibrosis (CFCF) Any charitable purpose relating to Cystic Fibrosis. Donation from Caring for Cystic Fibrosis.
Diabetes Type 1 Any charitable purpose relating to Diabetes Type 1.
A family centred activity day for children and young people who have received treatment for cancer
Do it For You or a bone marrow transplant at Sheffield Children’s Hospital. This fund was set up specially for a
ringfenced grant from Macmillan.
Helipad To fund a new helipad as part of the Build It Better appeal.
Leukaemia Research Any charitable purpose relating to Leukaemia Research.
Leukaemia and Oncology Restricted For the benefit of patients undergoing bone marrow treatment.
Plastic Surgery Any charitable purpose relating to Plastic Surgery.
PLRS Any charitable purpose relating to the Paediatric Limb Reconstruction Service.
Any charitable purpose relating to Ryegate Children’s Centre,an assessment and treatment centre
Ryegate Centre Legacy
for children with a wide range of neurological and neurodisability needs.
Sleep Medical Equipment To fund medical equipment for the Sleep Department
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Cont.

The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

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Annual Report 2023/24

Back to contents

Restricted funds continued.

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Name of restricted fund Description of restricted fund
Speech Therapy A legacy donation for use by the Speech Therapy team.
Staycation Packs Activity packs for patients on the wards.
This fund was set up specifically for donations in memory of Tom Blower and is restricted for use by
Toms Fund
the Intensive Care Unit.
The True Colours Trust Grant to make improvements to the Parent Rooms used by Ward 1 & 2 and Ward 5.
Yorkshire Childrens Hospital Fund (Sleep) Sleep monitoring equipment for the Sleep Service Department.
To improve the patient experience of children with Uveitis attending the Uveitis clinic at Sheffield
Uveitis Clinic
Children’s Hospital.
Funding towards the Cancer & Leukaemia Inpatient Ward development project provided by various
Ward 6 ( Build it Better)
trusts.
Ward 6 Child’s Play To fund games consoles, tablets & virtual reality or related technology for use on Ward 6.
Ward 6 IT & Electronic Equipment To fund IT & electronic equipment for patients on Ward 6.
Ward 6 Play & Distraction To fund play & distraction items for patients on Ward 6.
Ward 6 Staff & Patient Support To support staff development, patient experience & annual Ward 6 Remembering Day.
Ward 6 Yorkshire Building Society Charitable Foundation To fund toys & play equipment for use on the Cancer & Leukaemia Ward.
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The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

Notes to the

Annual Report 2023/24 Back to contents

19. Fund descriptions

Unrestricted funds

These funds are amounts which are not yet designated for a particular project by the Management Committee but also where no restriction as to how the funds can be expensed has been placed on the funds by the donor.

Designated funds

The numerous designated funds are projects or fundraising activities being run by the charity. These funds are set by the Management Committee as to what projects will be run and generally the funds are eligible to be transferred from one to another under the terms of the donations.

Restricted funds

These tend to be a result of one off large donations, regularly from legacies, where the funds are specified to only be spent on a particular type of work. The restrictions do not, usually, restrict the expenditure any further but the Management Committee keep a close watch on how these funds are spent and also what opportunities arise to spend the funds on prospective projects.

The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

Notes to the

Annual Report 2023/24 Back to contents

20. Analysis of group net assets between funds

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2024 2024 2024
Unrestricted Restricted Total
£ £ £
Fixed assets 6,759,421 - 6,759,421
Cash and current investments 1,855,362 661,779 2,517,141
Current assets 869,784 - 869,784
Current liabilities (1,646,659) - (1,646,659)
Total 7,837,908 661,779 8,499,687
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2023 2023 2023
Unrestricted Restricted Total
£ £ £
Fixed assets 6,631,278 - 6,631,278
Cash and current investments 2,583,145 3,925,841 6,508,986
Current assets 709,923 - 709,923
Current liabilities (555,536) (1,588,397) (2,143,933)
Non current liabilities (313,609) - (313,609)
Total 9,055,201 2,337,444 11,392,645
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The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

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Annual Report 2023/24

Back to contents

21. Grants

22. Related Parties

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2024 2023
The following grants have been made during the year
£ £
Unrestricted funds:
Medical research projects within the Sheffield Children’s
201,200 84,395
NHS FT
Charity projects for which there are designated funds 3,139,124 307,726
Support costs allocated 45,522 38,282
Total Grants from unrestricted funds 3,385,846 430,403
Restricted funds:
Medical research projects within the Sheffield Children’s - 10,254
NHS FT
Grants made projects for which there are restricted funds
1,927,801 1,578,143
(note 18)
Total Grants from restricted funds 1,927,801 1,588,397
Total Grants 5,313,647 2,018,800
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During the year, payments of £23,976 (2023: £Nil) were made towards medical research projects with the Sheffield Children’s NHS FT where C.Offiah is the lead investigator.

23. Contingent assets

The charity recognises legacy income when it has received notification of the legacy and has sufficient certainty regarding the amount of the receipt. Where there is uncertainty over the amount of the legacy that will be received, income is not recognised until the estate has been finalised by its executors. The charity prudently estimates that income from such legacies will be in the region of £315,000 (2022/23: £255,000) and will recognise this income in future years.

All grants made in year to Sheffield Children’s NHS Foundation Trust.

The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

Annual Report 2023/24

Thank You

The Children’s Hospital Charity Ltd (A company limited by guarantee not having a share capital)

2024-03-31-accounts

Annual 2023/24 Report

Contents e>

3 Welcome

4 About Us

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Welcome

About Us

One of only three specialist standalone children’s Trusts in the UK, the other two being Alder Hey and Great Ormond Street, children and young people travel from all over the country and the world to

Our Charity Values

Accountability

Compassion

Excellence

Inclusivity

Together

Our Patrons

What We Do

Our Mission

Our charitable objectives

The objectives of the Charity are for the public benefit, the relief of sickness and in particular:

For the public benefit

Our Trustees confirm that they have complied with the duty in the Charities Act 2011 to have due regard for the Charity Commission’s general guidance on public benefit.

In setting our objectives and planning our activities our Trustees have again given careful consideration to the Charity Commission’s general guidance on public benefit.

Meet our Trustees

Jonathan McMahon (Chair of The Children’s Hospital Charity, appointed 31[st] July 2023)

Ruth Brown

Mark Rooker

John Warner

Professor David Barnett

Rachel White

Sarah Jones (resigned 31[st] December 2023)

Paul Firth (Chair of The Children’s Hospital Charity, resigned 31[st] July 2023)

2023/24 in Review Our highlights, achievements and activities

Facts and Figures

Donations and fundraising

Trading

Legacies

What is the NCCHT?

What will happen there?

How much do we need to raise?

Fundraising events within the community

Fundraising events within the community have seen real successes over the last year, generating donations of almost £1million thanks to the generosity and dedication of supporters.

Corporate fundraising

The Charity Hub and trading

Our trading arm raised £101k by selling merchandise on and offline, as well as at events and third-party organisations.

Major donors

We are incredibly grateful to our supporters who donate significant and generous gifts.

Trust and Grants

Whilst gifts have decreased in this income stream across the charity sector as a whole, monies from grant making organisations have continued to make a significant difference to patient care.

Legacies

Helipad

Specialist Equipment

The Respiratory Physiology Service needed funds for new lung function equipment, in order to effectively diagnose, monitor and manage respiratory conditions in patients.

2x Sentec digital monitors - £15,000

2 x portable ultrasounds for ED and PICCU - £71,905

These have been funded by Clay Shoot 2023.

Ryegate Hi-Lo Bed - £6,692

A brand new specialist bed has been provided for children with complex neuro-disabilities, multiple physical and learning disabilities, and life-limiting conditions.

These special monitors measure how well lungs get oxygen in and carbon dioxide out.

Specialist MR1 ventilator - £33,500

The MRI suite requires special equipment to look after children safely while under anaesthesia.

Laser pen - £7,750

The Charity will fund a second laser pen for our Haematology and Oncology Ward to provide treatment of oral mucositis for children under chemotherapy and radiotherapy.

Research

Research Fellow in Sleep Medicine and Narcolepsy

£16,000

A pilot study into ventilation for children with bronchitis £42,144 using an MRI

A study into the characteristics of childhood narcolepsy

£10,309

Is a type of fluorescent imaging safe and accurate for £23,410 predicting testicular torsion?

Testicular torsion is a time critical condition for children and young people and is difficult to diagnose.

Financial Review

At a Glance

Our financial performance in year: the Statement of Financial Activities at a glance.

How much income did we raise?

Other trading activities

Donations and legacies

Investments

What are our costs?

Charitable Activities

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