REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
INDEPENDENT FETAL ANTI-CONVULSANT TRUST |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
INDEPENDENT FETAL ANTI-CONVULSANT TRUST |
INDEPENDENT FETAL ANTI-CONVULSANT TRUST |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30 June 2024 |
Page |
Report of the Trustees | 1 | to | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 | to | 6 |
Notes to the Financial Statements | 7 | to | 11 |
INDEPENDENT FETAL ANTI-CONVULSANT TRUST (REGISTERED NUMBER: 09075755) |
REPORT OF THE TRUSTEES |
for the Year Ended 30 June 2024 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The charity's main object is to relieve the needs of disabled persons whose disabilities were caused as a result of their mother taking an anti-convulsant drug during pregnancy to treat her condition in such ways as the trustees may from time to time decide. |
INDEPENDENT FETAL ANTI-CONVULSANT TRUST (REGISTERED NUMBER: 09075755) |
REPORT OF THE TRUSTEES |
for the Year Ended 30 June 2024 |
ACHIEVEMENT AND PERFORMANCE |
This year has been extremely busy with meetings in Westminster with the Patient Safety Commissioner and Health Minister around the possibility for the costings for compensation for those exposed and harmed by Valproate when used in pregnancy. |
The year has been one of immense pressure and concentration to ensure those we met understood the position of our members and that we were able to get the main points across when it came to explaining the services and support our members needed to date and for the rest of their lives. |
Our first meeting to discuss this took place in August with the Patient Safety Commissioner Dr Henrietta Hughes, we had met with her many times already and she was aware of the problems the families were experiencing, however she was willing to take on board INFACT negotiation costings for compensation and look at how these could be incorporated in her report. |
In September, the Medicines and Healthcare products Regulatory Agency (MHRA) met with us to discuss other anti epilepsy medications in pregnancy as they had received research reports about the drug Topiramate having a similar effect in pregnancy. We were very pleased to see the MHRA were listening on this topic and willing to include this medication in their follow up conversations. |
The new year began with a very important and successful meeting with Captia, who deals with the details for the Personal Independent Payment for those who are unable to work due to disabilities. Our focus in the meeting was to discuss the time length of the re-assessment asking that those with life long disabilities such as Fetal Valproate Spectrum Disorder be given 10yrs in between re-assessments instead of the anxious wait of 3 years. This was a very good and positive meeting with the outcome being one of success. |
As we led up to the publishing of the Patient Safety Commissioners report, the Hughes Report, on the 7th February, the week before was filled with media attention with INFACT giving interviews to LBC Radio with Carole Vordaman joined by former Health Minister Norman Lamb. The following week we met with Epilepsy Research Institute where were gave an interview for their website, and appeared on Newsnight on 6th February where we were interviewed by Victoria Derbyshire concerning the debilitating condition and our hopes for redress. Two weeks later the media continued with ITV Wales interviewing one of our welsh families, BBC Essex speaking to a London family and INFACT having a large piece in the Guardian newspaper. |
In May INFACT met with the World Health Organisation to discuss the diagnostic criteria for those affected by other anti-epilepsy medications, especially Topiramate, with the hope of this being recognized enough to receive its diagnostic title on the ICD 11 allowing doctors to recognize it too. |
The General election then took place and so work in parliament came to halt, allowing us to give more time and put more emphasis into research and work with our medical advisor Dr Rebecca Bromley towards setting up a diagnostic clinic with funding from the Dept of Health. We were aware this would take some time to establish however there is a lot of work needed leading up to September when we should know more about the possibilities. |
We all look forward to the following 12 months and the hope that we finally succeed with the redress that our families so drastically need. |
FINANCIAL REVIEW |
The statement of financial activities shows a surplus of £12,868 and carried forward funds surplus of £19,047. |
Donations during the period were £9,719. |
A grant of £20,000 from The Big Lottery Fund - Awards for All was received during the year, with £16,517 outstanding at 30 June 2024. |
INDEPENDENT FETAL ANTI-CONVULSANT TRUST (REGISTERED NUMBER: 09075755) |
REPORT OF THE TRUSTEES |
for the Year Ended 30 June 2024 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, memorandum and articles of association, and consists a limited company, limited by guarantee, as defined by the Companies Act 2006. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Bankers |
Natwest Bank plc |
Garstang Branch |
Market Place |
Garstang |
PR3 1ZA |
Approved by order of the board of trustees on |
INDEPENDENT FETAL ANTI-CONVULSANT TRUST |
STATEMENT OF FINANCIAL ACTIVITIES |
for the Year Ended 30 June 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
EXPENDITURE ON |
Charitable activities |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 6,179 |
INDEPENDENT FETAL ANTI-CONVULSANT TRUST (REGISTERED NUMBER: 09075755) |
BALANCE SHEET |
30 June 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
CURRENT ASSETS |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 8 |
Unrestricted funds | 1,179 |
Restricted funds | 5,000 |
TOTAL FUNDS | 6,179 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
INDEPENDENT FETAL ANTI-CONVULSANT TRUST (REGISTERED NUMBER: 09075755) |
BALANCE SHEET - continued |
30 June 2024 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
INDEPENDENT FETAL ANTI-CONVULSANT TRUST |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30 June 2024 |
1. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
INCOME |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
EXPENDITURE |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
TANGIBLE FIXED ASSETS |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Fixtures and fittings | - |
TAXATION |
The charity is exempt from corporation tax on its charitable activities. |
FUND ACCOUNTING |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
The total funds of the charity are unrestricted. |
2. | DONATIONS AND LEGACIES |
2024 | 2023 |
£ | £ |
Donations |
Grants |
Grants received, included in the above, are as follows: |
2024 | 2023 |
£ | £ |
The Big Lottery Fund - Award for All | 20,000 | 10,000 |
INDEPENDENT FETAL ANTI-CONVULSANT TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2024 |
3. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2024 | 2023 |
£ | £ |
Depreciation - owned assets |
4. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 30 June 2024 nor for the year ended 30 June 2023. |
TRUSTEES' EXPENSES |
There were no trustees' expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023. |
5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | fund | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
EXPENDITURE ON |
Charitable activities |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward | 179 | - |
TOTAL FUNDS CARRIED FORWARD | 1,179 | 5,000 | 6,179 |
INDEPENDENT FETAL ANTI-CONVULSANT TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2024 |
6. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 July 2023 |
Additions |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Accruals and deferred income |
8. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1/7/23 | in funds | 30/6/24 |
£ | £ | £ |
Unrestricted funds |
General fund | 1,179 | 1,351 | 2,530 |
Restricted funds |
The Big Lottery Fund - Awards for All | 5,000 | 11,517 | 16,517 |
TOTAL FUNDS | 12,868 | 19,047 |
INDEPENDENT FETAL ANTI-CONVULSANT TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2024 |
8. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 2,747 | (1,396 | ) | 1,351 |
Restricted funds |
The Big Lottery Fund - Awards for All | 20,000 | (8,483 | ) | 11,517 |
TOTAL FUNDS | ( |
) | 12,868 |
Comparatives for movement in funds |
Net |
movement | At |
At 1/7/22 | in funds | 30/6/23 |
£ | £ | £ |
Unrestricted funds |
General fund | 179 | 1,000 | 1,179 |
Restricted funds |
The Big Lottery Fund - Awards for All | - | 5,000 | 5,000 |
TOTAL FUNDS | 179 | 6,000 | 6,179 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 9,719 | (8,719 | ) | 1,000 |
Restricted funds |
The Big Lottery Fund - Awards for All | 10,000 | (5,000 | ) | 5,000 |
TOTAL FUNDS | 19,719 | (13,719 | ) | 6,000 |
INDEPENDENT FETAL ANTI-CONVULSANT TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2024 |
8. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1/7/22 | in funds | 30/6/24 |
£ | £ | £ |
Unrestricted funds |
General fund | 179 | 2,351 | 2,530 |
Restricted funds |
The Big Lottery Fund - Awards for All | - | 16,517 | 16,517 |
TOTAL FUNDS | 179 | 18,868 | 19,047 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 12,466 | (10,115 | ) | 2,351 |
Restricted funds |
The Big Lottery Fund - Awards for All | 30,000 | (13,483 | ) | 16,517 |
TOTAL FUNDS | 42,466 | (23,598 | ) | 18,868 |
The Big Lottery Fund - Awards for All |
The Big Lottery Fund awarded £20,000 to Independent Fetal Anti-Convulsant Trust in order to cover costs of running the charity. The funding should be allocated as £1,000 for room hire, £3,000 for travel costs, £2,500 for advertising costs, £6,000 for conference organisation, £4,000 for accomodation, £500 for website updates, £1,000 for stationary and £2,000 for equipment. |
9. | RELATED PARTY DISCLOSURES |