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The Sick Kids Friends Foundation

Trustees’ Report and Accounts Fifteen Months to 31 December 2014

Company Registration number: SC 385020 Scottish Charity number: SC 020862

The Sick Kids Friends Foundation Trustees’ Report a nd Accounts


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Trustees’ Report 2 Statement of the Trustees’ Responsibilities in respect of the Accounts 9 Independent Auditors’ Report 10 Consolidated Income and Expenditure Account and Statement of Financial Activities 12 Income and Expenditure Account and Statement of Financial Activities 13 Balance Sheet 14 Notes to the Financial Statements 15 Reference and Administrative Details 25 TRUSTEES’ REPORT The Trustees are pleased to present the Annual Report and Accounts of The Sick Kids Friends Foundation for the fifteen months to 31 December 2014. WHAT THE SICK KIDS FRIENDS FOUNDATION DOES The Sick Kids Friends Foundation (SKFF) supports and complements the work of the Royal Hospital for Sick Children, Edinburgh (The Sick Kids) as well as other children’s healthcare settings across the southeast of Scotland. We want every one of the 100,000 children who visit the hospital each year, and the many more being supported in local communities, to receive the very best of care. SKFF does this by funding:

� comforts, distractions and enhanced facilities for children and their families

� the very latest medical equipment and research

� family support and play services

� innovative art projects including our Artists in Residence

� training for staff SKFF is able to provide this support thanks to the generosity of its many supporters, who contribute vital funds in a variety of ways. Since 1992 The Sick Kids Friends Foundation has contributed over £10 million to support children and their families using healthcare services at the Royal Hospital for Sick Children, and throughout NHS Lothian and the southeast. ACHIEVEMENTS AND PERFORMANCE Continuing to support children and their families It has been a successful period for the charity. SKFF was able to distribute £1,558,177 to a variety of projects and services.

� We received 100 grant applications; 92 approved, six pending, two rejected.

� The largest grant awarded was for £509,331 for a Gamma Camera. This equipment provides very precise gamma imaging and CT scanning, resulting in diagnostic tests with greater accuracy. The camera is quick to use which reduces the time children have to wait to use it, as well as meaning the time taken to perform the scan itself is shorter.

� Six grants were for equipment including Eye Gaze Systems for Braidburn School and the hospital; the

Biodex Gait Trainer (exercise bike) for children with respiratory problems; and an interactive projector for the hospital main entrance.



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� 45 different departments applied for funding including the Play Department; all the wards of the hospital; Braidburn School; Child and Adolescent Mental Health Services (CAMHS); Radiology; Sunndach and Calareidh; and therapies.

� The largest grant applications made were for seven enhancement projects for the new hospital,

amounting to £2.9 million which will be granted over the next two and a half years as funds permit. The new children’s hospital is currently being built and will open at its new site in Little France, Edinburgh in late 2017.

There are a number of projects which the Trustees have agreed to fund on an ongoing basis. These include:

� The Artists in Residence Project, bringing art and creativity into the hospital and providing distraction.

� The Drop In Centre which provides family space round the corner from the hospital where families can enjoy time away from the wards and access support including complementary therapies.

� A Changing Faces Practitioner who supports children from all over Scotland with a wide range of conditions that can affect their appearance, offering specialist emotional and practical support to help them build self confidence.

� KIDSnet – free, safe internet access throughout the hospital which allows children to maintain contact with friends and family, to stay entertained and keep up with school work.

� PJ's Loft and other parent accommodation provide bedrooms for parents who need to be with their child day and night. Daytime living areas and showers are also provided for those who sleep on the wards beside their children.

� Welcome presents for inpatients to help them feel at ease, Reward Boxes for children who undergo difficult treatment and social work funding for families in difficult circumstances.

� Play Specialists who are supported in their activities by SKFF, and also visits from the Clowndoctors and Nordoff Robbins music therapists.

Royal Patron We are delighted to continue to receive invaluable support from our Royal Patron, HRH Princess Beatrice of York. Princess Beatrice visited the hospital in August 2014 to officially ‘open’ the Gamma Camera/CT scanning system; the first of its kind in Scotland, and funded by The Sick Kids Friends Foundation. Volunteers SKFF relies on the support of kind hearted volunteers who give their time and talents to assist us in all areas of our work. Volunteers assist in the office, our hospital shop, at fundraising events, with collecting cans and by giving talks about our work. In addition to these volunteers, SKFF continues to fund the post of Voluntary Services Manager at the hospital. This enables the hospital to have volunteers help in a number of ways, including bedtime reading, sitting with children allowing parents a break from the bedside and taking round the library trolley. Over 160 volunteers are involved in these and other hospital-based activities, and range in age from 18 to 80. Engaging with communities SKFF continues to enjoy the support and affection of the community in Edinburgh, across southeast Scotland and beyond. Fundraising in local communities helps to raise not only much-needed funds but heightens awareness of our work too. This year saw an incredible range of fundraising activities being undertaken. These included three medical students from Edinburgh University who entered the Mongol rally and drove 10,000 miles in a Nissan Micra, with a football table strapped to the top. Whilst young supporter, Eddie Gomer Fell took our call to ‘Become a Sick Kids Superhero’ quite literally and dressed as the Green Arrow Superhero for the whole month of April. Eddie raised over £1,000 in sponsorship for SKFF and a short film he created to document his experience received multiple hits on YouTube.



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Sporting Challenges Supporters take part in a number of sporting events to raise funds for SKFF, from walks and runs to endurance challenges. The Edinburgh Marathon Festival regularly features in our Sports Challenge calendar and 145 supporters, our Sick Kids Superheroes, signed up to run and raise sponsorship on our behalf in 2014. They helped to raise a record £50,000; 22% more than the previous year’s total.

Patients and their families Children and families supported by the hospital often show their appreciation of the excellent care they have received by fundraising for The Sick Kids Friends Foundation. Examples of this in in the fifteen month period include four year old Riley Carroll who had always found it hard using the right side of his body, making it difficult for him to walk. In the summer he celebrated learning to walk with a sponsored walk around East Fife Football Club’s pitch, raising an incredible £1,584. The Church Family from Brechin inspired their community to support SKFF after daughter Hannah, who suffers from Scoliosis, underwent three life changing operations. During the fifteen month period they raised £16,000 from a number of events including a family fun day, football tournament and a Hawaiian night. Their donation has funded a brand new high backed chair for scoliosis patients post surgery; an interactive floor projector for ward 7, providing hours of fun and distraction for patients; and part-funded our Wayfinding Project, which helps patients and families navigate their way more easily around the hospital. Children and young people Our schools fundraising programme continued to promote the work of SKFF in nurseries, primary and secondary schools across the southeast of Scotland. Bonaly Primary School managed to raise a huge £4,495 with a fun run that they held in May 2014. Erskine Stewart Melville’s School gave a donation of £3,500 for the Craig Gowan’s Memorial Fund. St John’s The Baptist RC Primary School’s PTA committee nominated SKFF for the second year running to benefit from their fundraising of £1,058 which was then match-funded making the final total £2,117. Corporate partnerships Charity of the Year partnerships, employee fundraising and employee volunteering are just some of the ways companies can support SKFF. SKFF was the nominated local charity for all Co-Operative food stores in Edinburgh, East Lothian, Fife and the Borders in 2014. This partnership raised over £41,000 through collections and events in stores; area events such as football tournaments and social evenings; and staff taking part in challenges such as skydives. Since February 2014 SKFF has been the ongoing nominated charity for all Starbucks stores in the East of Scotland (from Livingston to Dundee). Collection cans and staff fundraising in stores has raised £1,400. They also donated tea and coffee for the 2014 Teddy Toddle and prizes for the 2014 Christmas Fair. Other charity of the year partnerships included Marks and Spencer Outlet Meadowbank (£1,158), the Scottish Qualifications Authority (£10,599) and investment management network Flyers and Foxes (£11,885). Events As well as supporters organising events on our behalf, SKFF has a calendar of events throughout the fifteen month period organised by the charity itself. Our art event ‘Postcards 2014, Small Pictures for Big Projects’ involves artists donating postcard sized original works of art which are then sold anonymously at a preview event hosted by Lyon and Turnbull. The event was well attended and raised over £38,000 which will go directly towards our Artist in Residence programme.



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We saw around 1,500 adults and children come along to the SKFF Christmas Fair in December 2014 to help us celebrate its 10th Anniversary. Over 70 commercial stalls on the day helped to raise over £7,000. In the same month our annual Carol Concert took place at St Cuthbert’s Parish Church. Readings came from celebrity supporters, Eileen McCallum and Jennifer Black, as well as staff and patients from the hospital and were enjoyed by a congregation of over 350 people. With sponsorship from Franklin Templeton, the evening raised £6,500. Trusts and Foundations SKFF was successful in sourcing funding from a number of Trusts throughout the year. These funds are sought for specific projects and are invaluable in allowing us to support the many innovative and pioneering activities in the hospital. The largest single donation in the year was a gift of £100,000 from The Robertson Trust for the Gamma Camera. Other donations for specific projects include The Bank of Scotland Foundation supporting our Guided Self Help Service with a donation of £10,000; and The Len Thomson Charitable Trust who gave a further £10,000 towards our parental accommodation. The Turtleton Trust donated £5,000 towards a film called “The Mail Porter” which was created through our Artist in Residence project. The film, which follows the journey of the mail porter on his deliveries around the hospital, is based on a poem written by our writer in residence Linda Cracknell and kindly narrated by Alexander McCall Smith. Costs of Fundraising Activities The cost of generating voluntary income in the 15 month period totalled £558,631 (£345,969 in the financial year 2012/13). This equates to 28 pence spent to raise each £1 (25 pence in the financial year 2012/13). This increase of three pence is due to an October 2013 event where some of the income was included in the previous financial year and most of the costs were included in these accounts. Plans for the Future The Sick Kids Friends Foundation Trustees will approve a new three-year strategy for the organisation in 2015. This strategy will set clear objectives, measurable outcomes and will have an accompanying three year income and expenditure projection. The strategy will cover the time period within which the children’s hospital will move from its current location in Sciennes to Little France. The new hospital brings opportunities for SKFF to grow income and subsequently distribute more annual grants, which the strategy and accompanying action plans will outline in detail. SKFF has pledged £2.9 million to seven identified projects, which sit within the Art and Therapeutic Design plans for the new hospital. SKFF provides staff representatives to be involved in the development of these projects. The projects provide enhancements, comforts and distractions in the following areas:

� Arrivals and wayfinding � Play and relaxation including a Snoezelen multi-sensory room; waiting, play and dining areas; and the

exciting “pod” waiting area � Bedside environment � Distraction in clinical areas � Child and Adolescent Mental Health Services (CAMHS) � Spiritual care including the Sanctuary and bereavement suites � Drop-in centre and landscaping including various outdoor spaces around the hospital

Financial Review Total incoming resources for the fifteen months to 31 December 2014 equalled £2,204,054 (£1,587,743 in the 12 month period 2012/13) and resources expended equalled £2,305,918 (£1,330,194 in 2012/13). Details of these are provided in the preceding paragraphs and further analysis is provided in the notes to the accounts.



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The total net incoming/(outgoing) resources were £(101,864) (incoming £257,549 in 2012/13) before investment gains of £41,402 (£30,547 in 2012/13) giving a net increase/(decrease) in funds of £(60,642) (increase £288,096 in 2012/13). Funds at 31 December 2014 totalled £3,783,691 (£3,844,153 at 30 September 2013) of which £702,460 represents Restricted Funds (funds received which are earmarked by the donor for a specific ward, department or project) and £3,081,231 represents Unrestricted Funds. Out of the unrestricted funds, the Trustees have designated a sum totalling £1,590,009 which will be spent on specific projects during the next year. This is shown separately in the balance sheet as Designated Funds. The Trustees have agreed that a sum equivalent to one year’s minimum operating costs revenue budget should be retained by the charity as part of its reserves. At 31 December 2014 £431,500 was held in the Investment Fund to cover this. At 31 December 2014 the accounts showed that this left £1,059,722 of unrestricted funds which had at that date not been designated by the Trustees for particular purposes. With the proposed new hospital currently being planned, we are aware that there will be funding requests by NHS Lothian to ensure that a world class facility will be available. It is our intention that these funds and further surplus funds which we may be able to build up in the intervening years will be used for items of equipment, facilities and comforts in connection with the new hospital once detailed plans are agreed; in the meantime we continue to raise funds for use within the existing hospital. Going Concern The Trustees are satisfied that the accounts should be prepared on a going concern basis. They have reviewed the level of reserves, the budget for both income and expenditure for the next 12 months and also reviewed the risks to the charity and its ability to continue to raise funds in the future.

Details of Investment Performance The Board set aside a sum of £250,000 on 31 March 2002 for investment. The management of the Portfolio is based on long term considerations, investing mainly in UK companies, UK Government stocks and cash deposits. Policy is directed towards achieving an appreciation in capital values, while at the same time aiming to generate a reasonable and growing level of income, which will be retained for re-investment, unless otherwise required. Performance measurements have been established. We do not invest directly in tobacco companies or in companies involved with a child labour force. During 2010 a further £500,000 was added to the Investment portfolio to be invested in gilts to achieve a yield significantly in excess of the interest earned on bank deposits. The investment policy is reviewed annually. Our investments are managed by Barclays Wealth Management. The fifteen months to December 2014 once again saw markets fluctuate. At 31 December 2014 the investment portfolio was valued at £1,203,768 (£1,131,086 at 30 September 2013) an increase of £72,682 (6.4%). The net investment gain was £41,402 (3.7%). Total investment income, which represented 3.6% of the opening value was £41,283 (£31,175 in 2012/13 has been retained in the investment portfolio for reinvestment. STRUCTURE, GOVERNANCE AND MANAGEMENT The Sick Kids Friends Foundation was formed as an unincorporated association on 7 December 1992. On 1 October 2010 the assets and liabilities of the association were transferred into a company limited by guarantee. The Articles of Association modernised and replaced the previous Constitution. The Directors of the Company (the Trustees) are responsible for the strategy and governance of the Charity and monitoring performance in line with the strategic objectives. It is recognised by HM Revenue & Customs as a charity and is registered with the Office of the Charity Regulator as a Scottish Charity with Scottish Charity Number SC 020862. These accounts are the fourth accounts of the charity in the form of a company limited by guarantee and cover the fifteen months to 31 December 2014. Recruitment and Appointment of Trustees Trustees are recruited in a variety of ways including through advertisements in the Supporter Newsletter and



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also in the press. They are nominated and seconded by current members and are appointed for a three year term following which they may seek re-election subject to serving a maximum of three terms (nine years). All members are subject to Disclosure Scotland PVG applications, Fit and Proper Persons Test and must complete a Register of Interests. New Trustees receive a full pack of information about the work of the charity and its history, are taken on a tour of the hospital to familiarise them with the provision made by the charity, meet with the Chair and Chief Executive and are also given an outline of their duties and responsibilities as a Trustee. Trustees are encouraged to attend various training days organised by the Office of the Scottish Charity Regulator, our auditors and other voluntary sector advisors. Decision Making The Trustees meet regularly to monitor progress, decide applications and receive reports. The risk register is updated on a twice-yearly basis and presented to the Trustees as part of their papers for the meeting. Responsibility and levels of authority are clearly defined. In 2011 the Trustees approved a Strategy for the years 2011 – 2015 and on an annual basis a budget for income and expenditure is approved; with responsibility for delivering these delegated to the Chief Executive and staff. Regular reports on progress are given at Trustee meetings. Grant Making Policies In line with the objects of the charity, the Trustees have identified five main areas for support by the charity:

� the purchase of extra medical equipment over and above that provided by NHS Lothian

� the provision of extra child and family-friendly facilities

� the provision of a wide variety of extra comforts which make time in hospital better for children

� the provision of extra support for sick children who are cared for in the community

� funding for extra training and research.

The charity does not make direct awards to individual children or families. Charitable expenditure is determined by the Trustees dependant upon:

� needs identified by clinical and support staff

� requests initiated through families’ experiences

� suggestions from supporters.

The Application process is robust:

� staff at the hospital or other agencies complete an Application Form

� all applications must be approved by NHS Lothian in line with their priorities and assessed for the cost of any future revenues

� all applications are assessed against our stated aims

� successful grant applicants are required to complete an Annual Report to update Trustees on the effectiveness of their investments

Grant applications of up to £5,000 are decided by the Chief Executive and homologated by the Trustees. Should a grant not progress for any reason these funds will be released back to the unrestricted fund.



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Trustees During the fifteen months (and up to the signing of these accounts) there were the following changes to the Board of Trustees:

� Lucy Juckes and Stephen Dunn both resigned from the Board in August 2014

� Elizabeth Bremner joined the Board in August 2014.

� David Reith (Chair) resigned from the Board in March 2015.

� Lindsay Gardiner was appointed to the Board in February and as Chair in March 2015. David Reith was appointed as a Trustee of SKFF in 2008 and Chair from 2012. David was instrumental in guiding SKFF through its period of incorporation and modernisation of its policies and practices. The Trustees wish to record their thanks to David, Lucy Juckes and Stephen Dunn for their support and enthusiasm during their time as Trustees. Management The Chief Executive, Maureen Harrison, retired in January 2015. The Trustees record their thanks to Maureen for her 17 years of service. A new Chief Executive, Roslyn Neely, was appointed in September 2014 and took up post in January 2015. Connected Bodies Task Trading Limited is a wholly owned subsidiary company through which the trading activities for The Sick Kids Friends Foundation are carried on. Task Trading Limited shares its principal address with The Sick Kids Friends Foundation. Gross income for the fifteen months to 31 December 2014 amounted to £146,290 (£114,356 in the 12 months of 2012/13) and the net profit to be gifted to The Sick Kids Friends Foundation for the fifteen months to 31 December 2014 was £31,789 (£24,647 in the 12 months of 2012/13). The Sick Kids Friends (Little France) Limited was set up in December 2010 and has not yet traded. Relationship between the Charity and Related Partie s

� Task Trading Ltd was set up as the trading company of the charity and donates its profits to the charity under the Gift Aid Scheme on an annual basis.

� Three Trustees, David Reith (Chair), Gordon MacKinlay and Elizabeth Kerr are directors of Task Trading Ltd. David Reith resigned in March 2015 and Lindsay Gardiner (Chair) was appointed.

� Two Trustees, David Reith (Chair) and Suzanne Wilson are directors of The Sick Kids Friends (Little France) Limited. David Reith resigned in March 2015 and Lindsay Gardiner (Chair) was appointed.

� One Trustee, Paul Leonard, is employed by NHS Lothian. � David Reith is a partner in Lindsays who have provided some legal services to the charity. � Isabel McCallum is a director of Radio Lollipop Limited, which provided services to the charity.

Auditors A resolution to re-appoint Henderson Loggie will be put to members at the Annual General. So far as each Trustee is aware, there is no relevant audit information of which the auditors are unaware. Each Trustee has taken the appropriate steps to make themselves aware of such information and to establish that the auditors are aware of it. The Trustees’ report is prepared in accordance with special provisions of the Companies Act 2006 relating to small companies. Approved by the Trustees and authorised for signature by: Lindsay Gardiner Chair 27 April 2015



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Statement of the Trustees’ Responsibility in respec t of the Accounts The Trustees are responsible for preparing the Report of the Board of Trustees and the financial statements in accordance with applicable law and regulations. Law applicable to incorporated charities in Scotland requires the Trustees to prepare an annual report and financial statements for each financial period in accordance with applicable law and regulations. Under that law the Trustees prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the group at the end of the period and of its financial activities including its income and expenditure during the period then ended. In preparing those financial statements, the Trustees are required to:

� Select suitable accounting policies and then apply them consistently;

� Make judgements and estimates that are reasonable and prudent;

� State whether applicable UK accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and

Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity and the group will continue in operation. The Trustees are responsible for keeping proper and adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and the charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are also responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the UK, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions of accounts may differ from legislation in other jurisdictions.

The Sick Kids Friends Foundation Independent auditors’ report to the Trustees of The Sick Kids Friends Foundation


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We have audited the financial statements of The Sick Kids Friends Foundation for the fifteen months to 31 December 2014 which comprise the Group and Parent Charitable Company Statements of Financial Activities, the Group and Parent Charitable Company Balance Sheets and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charity’s Trustees, as a body, in accordance with section 44 (1) (c) of the Charities and Trustee Investment (Scotland) Act 2005 and regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the members and the charity’s Trustees those matters we are required to state to them in an auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity, its members as a body and its Trustees as a body for our audit work, for this report, or for the opinions we have formed. Respective responsibilities of Trustees and auditor s As explained more fully in the Trustees’ responsibilities statement (set out on page 9), the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. We have been appointed as auditors under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with regulations under those Acts. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board’s (APB’s) Ethical Standards for auditors. Scope of the audit of the financial statements An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the charitable company’s circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the directors; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the Annual Report to identify material inconsistencies with the audited financial statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report. Opinion on financial statements In our opinion the financial statements: • give a true and fair view of the state of the group’s and the parent charitable company’s affairs as at 31

December 2014 and of the group’s and the parent charitable company’s incoming resources and application of resources, including the group’s and the parent’s income and expenditure, for the period then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulations 6 and 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).

The Sick Kids Friends Foundation Independent auditors’ report to the Trustees of The Sick Kids Friends Foundation


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Opinion on other matter prescribed by the Companies Act 2006 In our opinion the information given in the Trustees’ Report for the financial period for which the financial statements are prepared is consistent with the financial statements. Matters on which we are required to report by excep tion We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you, if in our opinion: • the parent charitable company has not kept proper and adequate accounting records or returns

adequate for our audit have not been received from branches not visited by us; or • the parent charitable company’s financial statements are not in agreement with the accounting records

or returns; or • certain disclosures of Trustees’ remuneration specified by law are not made; or • we have not received all the information and explanations we require for our audit. • the directors were not entitled to prepare the financial statements in accordance with the small

company regime and take advantage of the small companies’ exemption in preparing the directors’ report and take advantage of the small companies’ exemption from the requirement to prepare a strategic report.

Janet Stevenson (Senior Statutory Auditor) For and on behalf of Henderson Loggie Statutory Auditors Henderson Loggie is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006 Edinburgh 27 April 2015

The Sick Kids Friends Foundation Consolidated Income and Expenditure Account and Statement of Financial Activities for the fifteen months ended 31 December 2014


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15 months to 31 Dec

2014

Year to 30 Sep 2013

Unrestricted Restricted Total Total Funds Funds Funds Funds Notes £ £ £ £ Incoming resources: Incoming resources from generated funds

– Voluntary income 2 1,358,248 643,863 2,002,111 1,410,036 – Activities for generating funds 3 146,290 – 146,290 114,356 – Investment income 4 55,653 – 55,653 63,351 Total incoming resources 1,560,191 643,863 2,204,054 1,587,743 Resources expended Cost of generating funds: – Costs of generating voluntary income

7 466,694 91,937 558,631 345,969

– Fundraising trading 7 114,501 – 114,501 89,709 – Investment management fees 7 8,480 – 8,480 6,606 589,675 91,937 681,612 442,284 Charitable activities 8 411,208 1,146,969 1,558,177 836,612 Governance costs 6 66,129 – 66,129 51,298 Total resources expended 1,067,012 1,238,906 2,305,918 1,330,194 Net (outgoing)/incoming resources before transfers

493,179

(595,043)

(101,864)

257,549

Transfers Gross transfers between funds 11 (542,454) 542,454 – – Net (outgoing)/incoming resources before other recognised gains and losses

(49,275)

(52,589)

(101,864)

257,549

Other recognised gains and losses

Gains on investment assets 12 41,402 - 41,402 30,547 Net movement in funds (7,873) (52,589) (60,462) 288,096 Reconciliation of funds Total funds brought forward at 1 October 2013

3,089,104 755,049 3,844,153 3,556,057

Total funds carried forward 3,081,231 702,460 3,783,691 3,844,153

The Sick Kids Friends Foundation Income and Expenditure Account and Statement of Financial Activities for the fifteen months ended 31 December 2014


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15 months to 31 Dec

2014

Year to 30 Sep 2013

Unrestricted Restricted Total Total Funds Funds Funds Funds £ £ £ £ Incoming resources: Incoming resources from generated funds

– Voluntary income 1,390,037 643,863 2,033,900 1,434,683 – Investment income 55,653 55,653 63,351 Total incoming resources 1,445,690 643,863 2,089,553 1,498,034 Resources expended Cost of generating funds:

– Costs of generating voluntary income 466,694 91,937 558,631 345,969 – Investment management fees 8,480 – 8,480 6,606 475,174 91,937 567,111 352,575 Charitable activities 411,208 1,146,969 1,558,177 836,612 Governance costs 66,129 – 66,129 51,298 Total resources expended 952,511 1,238,906 2,191,417 1,240,485

Net (outgoing)/incoming resources before transfers

493,179

(595,043)

(101,864)

257,549

Transfers Gross transfers between funds (542,454) 542,454 – – Net (outgoing)/incoming resources before other recognised gains and losses

(49,275)

(52,589)

(101,864)

257,549

Other recognised gains and losses Gains on investment assets 41,402 – 41,402 30,547 Net movement in funds (7,873) (52,589) (60,462) 288,096 Reconciliation of funds Total funds brought forward at 1 October 2013

3,089,104 755,049 3,844,153 3,556,057

Total funds carried forward 3,081,231 702,460 3,783,691

3,844,153

The Sick Kids Friends Foundation Balance sheet at 31 December 2014


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Group Foundation 31 December

2014 30 September

2013 31 December

2014 30 September

2013 Notes £ £ £ £ FIXED ASSETS Investments 12 1,203,768 1,131,086 1,203,768 1,131,086 CURRENT ASSETS Stock 15,877 16,708 – – Debtors 13 29,853 15,175 62,197 42,903 Cash at bank and in hand 2,671,812 2,816,599 2,647,313 2,792,454 CURRENT ASSETS 2,717,542

2,848,482 2,709,510 2,835,357

CREDITORS: amounts falling due within one year

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(137,619)

(135,415)

(129,587)

(122,290)

NET CURRENT ASSETS 2,579,923 2,713,067 2,579,923 2,713,067 NET ASSETS 3,783,691 3,844,153 3,783,691 3,844,153 Net assets comprising: Restricted funds 10,11 702,460 755,049 702,460 755,049 Unrestricted funds 11 1,059,722 1,382,996 1,059,722 1,382,996 Investment fund 9,11 431,500 446,550 431,500 446,550 Designated funds 9,11 1,590,009 1,259,558 1,590,009 1,259,558 Total unrestricted funds 3,081,231 3,089,104 3,081,231 3,089,104 3,783,691 3,844,153 3,783,691 3,844,153

These accounts have been prepared in accordance with special provisions of the Companies Act 2006 relating to small companies. These accounts were approved and authorised for issue by the Trustees on 27 April 2015 and signed on their behalf by: Lindsay Gardiner Chair

The Sick Kids Friends Foundation Notes to the financial statements for the fifteen months ended 31 December 2014


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1. ACCOUNTING POLICIES Basis of preparation The financial statements have been prepared under the historic cost convention, with the exception of investments which are included at market value. The financial statements have been prepared in accordance with the Statement of Recommended Practice – Accounting and Reporting by Charities (SORP 2005) issued in March 2005 (as amended) and applicable UK Accounting Standards. These accounts have been prepared on a going concern basis. The principal accounting policies adopted in the preparation of the financial statements are set out below.

Group financial statements These financial statements consolidate the results of the charity and its wholly owned subsidiary Task Trading Limited on a line by line basis incorporating income and expenditure under activities and cost of generating funds respectively.

Recognition of income Voluntary income including donations, gifts and legacies and grants that provide core funding or are of a general nature is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Income tax reclaims are recognised when claimed.

Gifts in kind Where gifts in kind are donated for the purposes of auction or other sale the proceeds from the auction are included in the voluntary income figures in the Statement of Financial Activities.

Where goods or services are donated directly to The Sick Kids Friends Foundation these are included in the Statement of Financial Activities if the value is known with any certainty. If there is uncertainty over the quantification of donations these are noted in the financial statements, if significant.

Grants payable Grants awarded are recognised in full in the period in which they are payable.

Costs of generating funds The costs of generating funds consist of direct expenditure, trading activity costs, investment management costs and an apportionment of overhead and support costs as shown in note 6.

Charitable activities Cost of charitable activities includes grants made and an apportionment of overhead and support costs as shown in note 6.

Governance costs Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees together with an apportionment of overhead and support costs.

Pensions The charity operates a defined contribution pension scheme. The amount charged to the income and expenditure account represents the contributions payable to the scheme in respect of the accounting period.

Fixed asset investments Investments are stated at market value as at the balance sheet date. UK Open-ended investment companies are included as listed investments. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the period.

Realised gains and losses All gains and losses are taken to the statement of financial activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening market value (purchase date if later). Unrealised gains and losses are calculated as the difference between the market value at the period end and opening market value (or purchase date if later). Realised and unrealised gains are not separated in the Statement of Financial Activities.

Capital items Capital items acquired for the office or for the Drop In Centre which individually have a cost or value of less than £5,000 are written off in the financial period of purchase.



16

1. ACCOUNTING POLICIES (continued) Stocks Stocks are stated at the lower of cost incurred in bringing each product to its present location and condition, or net realisable value.

VAT policy The Sick Kids Friends Foundation is not registered for VAT and accordingly expenditure includes VAT where appropriate. However, Task Trading Limited is registered for VAT and accordingly its income and expenditure are stated net of VAT.

Fund accounting Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity. Unrestricted funds include a revaluation reserve representing the restatement of investment assets at market values.

Designated funds are unrestricted funds which have been granted by the Trustees for particular purposes from which the expenditure has not been incurred. Restricted funds are subject to restrictions on their expenditure imposed by the donor or through the terms of an appeal. Transfers between restricted funds are made where special purpose activities are continuing but the delivery has changed due to the closure of, for example, a ward. Such transfers are separately disclosed in note 10. Where other transfers are required the reasons are noted in the appropriate funds note.

2. VOLUNTARY INCOME 15 months

to 31 December

2014

Year to 30 September

2013 Unrestricted Restricted Total Total £ £ £ £ Special events 604,640 372,237 976,877 641,135 Trusts and foundations 27,129 179,498 206,627 154,243 Corporate 238,669 51,320 289,989 232,614 Individuals 93,333 16,507 109,840 66,132 Income tax reclaim 83,368 - 83,368 56,608 Mailings 58,756 15,105 73,861 39,187 Organisations 2,677 100 2,777 4,609 Recycling 16,870 - 16,870 15,042 Legacies 147,011 - 147,011 130,510 Schools & nurseries 48,708 9,021 57,729 40,717 Online giving 23,059 75 23,134 16,414 Collection boxes 14,028 - 14,028 12,825 1,358,248 643,863 2,002,111 1,410,036 3. ACTIVITIES FOR GENERATING FUNDS 15 months

to 31 December

2014


2013 £ £ Shop turnover 146,290 114,356 Incoming resources from trading activities are stated net of value added tax and represent the value of sales made in the course of Task Trading Limited’s one activity, which is continuing the retailing of charity promotional and related goods.



17

4. INVESTMENT INCOME

15 months

to 31 December

2014


2013 £ £ Dividend income 36,413 15,603 Interest from UK Government securities 4,477 15,524 Bank interest on cash held as part of the portfolio 393 48 Income from investment portfolio 41,283 31,175 Interest from cash deposits 14,370 32,176 Total investment income 55,653 63,351 The dividend income and the interest from UK Government securities is received from investments listed on a recognised UK Stock Exchange. 5. STAFF COSTS

15 months to 31

December 2014


2013 £ £ Salaries 372,338 285,699 Social security costs 33,635 26,098 Pension costs 12,794 10,296 418,767 322,093

The average number of employees based on head count during the fifteen month period was 13 (12 in 2012/13). A defined contribution pension scheme for all staff was introduced on 1 October 2011. At 31 December an amount of no contributions were due to be paid. During the fifteen months, one employee received annual emoluments between £70,000 and £80,000 (one between £70,000 and £80,000 in 2012/13). Employer pension contributions to a defined contribution scheme in respect of the higher paid employee totalled £6,912 (£5,384 in 2012/13). No Trustees received any remuneration or reimbursement of expenses during the fifteen months (Nil in 2012/13). Trustee indemnity insurance was provided during the period at a cost of £716 (£716 in 2012/13). In line with the Statement of Recommended Practice for Charities, the allocation of staff costs between fundraising, charitable activities and governance is shown in Note 6.



18

6. ALLOCATION OF COSTS Cost of

generating voluntary income

Fundraising trading

Charitable activities

Governance

15 months to 30

September 2014 Total

Basis £ £ £ £ £ Staff costs (see note 5) 1 238,937 13,192 120,626 46,012 418,767 Special events 2 168,405 - - - 168,405 Mailings 2 33,261 - - - 33,261 Promotional 2 19,630 - - - 19,630 Other direct fundraising costs

2 18,800

-

-

- 18,800

Travel 3 2,111 - 1,066 406 3,583

Postage and communications

3 7,666

- 3,870 1,476 13,012

Computer expenses and maintenance

2 14,080

-

-

- 14,080

Office expenses and other items

4 14,246 5,163 7,192 2,743 29,344

Audit fee 2 - 950 - 7,500 8,450 Other professional fees

3 41,495 - 20,950 7,992 70,437

Total 558,631 19,305 153,704 66,129 797,769 Allocation Restricted funds 91,937 - 46,799 - 138,736 Unrestricted funds 466,694 19,305 106,905 66,129 659,033

558,631 19,305 153,704 66,129 797,769 Costs are allocated as follows: 1 Time allocation 2 Direct attribution 3 Allocation based on staff costs 4 Direct attribution to activities for generating funds and the remainder allocated on staff costs



19

7. COST OF GENERATING FUNDS

15 months to

31 December 2014


2013 Unrestricted Restricted Total Total £ £ £ £ Costs of generating voluntary income (note 6) 466,694 91,937 558,631 345,969 Fundraising trading: Costs of sales 95,196 – 95,196 75,965 Costs allocated to fundraising trading (note 6) 19,305 – 19,305 13,744 114,501 – 114,501 89,709 Investment management fee 8,480 – 8,480 6,606 Total cost of generating funds 589,675 91,937 681,612 442,284 To the extent that the costs attributable to generating voluntary income are not directly attributable between unrestricted and restricted funds, they are allocated in direct proportion to the voluntary income received. The costs attributed to fundraising trading and investment management all relate to unrestricted funds.



20

8. CHARITABLE ACTIVITIES

15 months to 31 Dec

2014 Year to 30 Sep 2013

Unrestricted Restricted Total Total £ £ £ £ Grants and donations : Artists in Residence Project - 40,129 40,129 35,278 Art Therapy Sessions – Teapot Trust 6,750 - 6,750 6,750 Art Therapy Lessons at RHSC 9,135 - 9,135 - Changing Faces Practitioner 34,195 8,105 42,300 25,593 Assistant Psychologist 12,186 7,652 19,838 - Clowndoctors - 18,750 18,750 12,000 Crohn’s Disease - 34,757 34,757 - CT Phantom 9,348 6,641 15,989 - Diabetes Handbooks - - - 7,437 Drop In Centre - 176,082 176,082 125,930 Drop In Centre Guided Self Help - - - 17,900 Eye Gaze Systems - 67,128 67,128 - Front Entrance Ceiling Projector - 7,100 7,100 - Gamma Camera - 509,331 509,331 - Graduate Trolley at Sunndach and Calareidh - - - 7,489 Hospital Volunteer Coordinator Service 33,497 - 33,497 25,141 KIDSnet - 7,373 7,373 1,917 Kindred Counselling Service 9,167 - 9,167 7,500 Kindred Support Project 36,667 10,000 46,667 40,000 Music Therapy 6,452 6,451 12,903 10,775 People Carrier at Calareidh - - - 30,376 Access to Dining Room 47,108 10,225 57,333 27,862 Parent Accommodation 12,173 28,856 41,029 32,383 Paediatric IBD Research - 10,000 10,000 - Palliative Care Specialist Equipment 5,090 - 5,090 - Physiotherapy Biodex Gait Trainer 635 16,315 16,950 - PJ’s News 3,049 - 3,049 - Play Department - 6,264 6,264 6,233 Reward Boxes 5,771 - 5,771 - Sim Junior – PICU/Retrieval - - - 20,047 Calareidh Garden Upgrade - - - 24,866 Sunndach & Calareidh Music Therapy 9,850 - 9,850 9,165 Sunndach Sensory Equipment - 17,000 17,000 - 2 Ultrasound Machines - - - 94,187 Ward 1 Chairs 3,588 - 3,588 - Ward 2 Treatment Room - 22,686 22,686 - Ward 2 Therapies - 26,803 26,803 15,180 Wards 1 & 4 Glideaway Beds 5,289 5,336 10,625 5,289 Ward 7 Outpatients Area - 8,786 8,786 - Social Work Department 5,750 6,200 11,950 - Plastic Surgery Mini Image Intensifier - - - 49,228 Therapies Installation Unit – A in Res - - - 11,504 Wayfinding Project 30,883 - 30,883 - Other Grants and donations 17,720 42,200 59,920 85,561 Total Grants and donations 304,303 1,100,170 1,404,473 735,591 Costs attributable to charitable activities (note 6) 106,905 46,799 153,704 101,021 Total cost of charitable activities 411,208 1,146,969 1,558,177 836,612



21

All of the grants and donations payable were to support patients, families, projects or staff at the Royal Hospital for Sick Children and other healthcare centres. The costs attributable to charitable activities are attributed between unrestricted and restricted funds in direct proportion to the grants and donations paid.



22

9. DESIGNATED FUNDS In line with the Statement of Recommended Practice for Charities, £1,590,009 has been designated for various charitable projects as detailed in the ‘Financial Review’ on page 5 and the investment reserve of £431,500 has been designated to cover other expenditure during the next year.

A net transfer has been made from unrestricted funds of £650,455. This is the net effect of provisions made in the current financial period for grants approved in the period reduced by designations having been made in a previous financial year which are no longer required. This happens when specific funds are subsequently raised for the project or where the final cost is less than the designated amount.

Funds Balance at 1 October

2013

(Payments)

made during the period

Realised/ Unrealised Gain/(Loss)

on Investment

Transfer from/(to)

Unrestricted Funds

Funds

Balance at 31 December

2014 Designated Funds £ £ £ £ £ Board Approved Grants 222,800 (64,742) - (144,658) 13,400 New Hospital - - - 1,055,545 1,055,545 Loft Appeal Fund 30,000 (9,929) - 9,929 30,000 Drop In Centre 150,000 (54,765) - 54,765 150,000 Artists in Residence Project

50,000

-

50,000

Kidsnet 25,000 (6,906) - 6,906 25,000 Volunteer Services - - - 39,000 39,000 Cystic Fibrosis - - 20,840 20,840 Kindred Support Project 40,000 (30,000) - 30,000 40,000 Kindred Counselling 10,000 (7,500) - 7,500 10,000 Drop In Centre Guided

Self Help

28,000

(5,638)

-

5,638

28,000 Changing Faces Practitioner

39,000

(39,647)

-

39,647

39,000

Crohn's Disease Research 30,000 (23,931) - (6,069) - Music Therapy in Hospital 5,000 (6,452) - 14,556 13,104 Music Therapy Sunndach

& Calareidh

9,120

(9,850)

-

9,850

9,120 Play Department - - - 6,000 6,000 Welcome and Reward

Presents

-

-

-

6,500

6,500 Social Work - - - 7,000 7,000 Gamma Camera 550,000 - - (550,000) - Dining Room 32,138 (45,572) - 13,434 - Fish Tanks - - - 5,000 5,000 Ward 2 Treatment Room 25,000 (8,322) - (16,678) - Ward 2 Massage Therapy - - - 14,000 14,000 Clowndoctors - - - 15,000 15,000 Art Therapy 13,500 (6,750) - 6,750 13,500

Designated Funds 1,259,558 (320,004) - 650,455 1,590,009

Investment Fund 446,550 – 41,402 (56,452) 431,500

Further information on grants paid during the period is given in the Trustees’ Report. The designated funds balance represents our commitments out of unrestricted funds for the next year.



23

10. RESTRICTED FUNDS Restricted funds are funds received which are earmarked by the donor for a specific ward, department or project.

Funds Balance at 1 October

2013

Transfer

from Unrestricted

Funds

Income

during the period

Payments

and Grants during period

Funds

Balance at 31 December

2014

£ £ £ £ £ Artists in Residence Project 8,196 - 36,172 (40,129) 4,239 Bill Manson Scholarship 15,135 - 1,000 16,135 Chronic Fatigue - - 15,000 (2,739) 12,261 Cleft Lip & Palate (Plastic Surgery) 14,702 - 550 15,252 Clowndoctors - 18,550 200 (18,750) - Craig Gowans Memorial Trust 6,770 - 10,540 - 17,310 Crohn’s Disease 12,500 - 26,657 (34,757) 4,401 Cystic Fibrosis 19,870 - 1,050 - 20,920 Dining Room Refurbishment 10,225 - - (10,225) - Drop In Centre - 62,915 113,167 (176,082) - Equipment Fund 77,564 297,122 134,645 (509,331) - Eyegaze - 11,157 55,971 (67,128) - Family Support - - 28,856 (28,856) - Guided Self Help - - 14,200 (14,200) - Intensive Care (PICU) 18,976 - 5,845 (11,086) 13,735 Hannah Bostock Charity Fund 7,304 94 3,691 (11,089) - Harrison Snedden Memorial Fund 12,150 - 5 - 12,155 High Dependency Unit 10,234 - 4,092 - 14,326 James Braidwood Fund 29,865 - - (8,273) 21,592 Leukaemia & Oncology 13,168 - 7,801 (6,471) 14,498 Neo Natal 11,489 - 498 11,987 Neurology 20,719 - 1,000 (7,000) 14,719 New Hospital 131,049 - 80,396 (1,000) 210,445 Patrick Hamilton (Oncology) 82,807 - - - 82,807 Play Department 10,729 - 3,449 (6,420) 7,758 Ortho/Spinal (formerly Ward 5) 22,745 - 6,780 (2,913) 26,612 Sunndach Residential Home 6,389 2,278 8,333 (17,000) - Ward 2 8,407 8,322 15,873 (32,602) - Ward 3 16,932 - 1,944 - 18,876 Ward 7 25,265 - 6,426 (13,133) 18,558 Other funds (under £10,000) 161,859 3,280 59,722 (80,986) 143,875

Total Restricted Funds 755,049 403,718 643,863 (1,100,170) 702,460 The costs apportioned to the restricted funds of generating voluntary income (£91,937) and of charitable activities (£46,799) referred to in notes 6, 7 and 8 and in note 11 are deemed to have been applied to restricted funds in the statement of financial activities but are not charged against each separate restricted fund. These costs have been charged to unrestricted funds and are therefore not reflected in the movement on the funds listed above. A total of £403,718 has been transferred from Unrestricted Funds to Restricted Funds in instances where grant expenditure has exceeded the amount available in the Restricted Fund.



24

11. FUNDS SUMMARY The movements during the year allocated to the different funds are summarised as follows: Restricted Unrestricted Investment Designated Total Funds Funds Fund Fund Funds £ £ £ £ £ Funds per Balance Sheet at 30 September 2013

755,049

1,382,996

446,550

1,259,558

3,844,153

Net incoming resources from the Statement of Financial Activities

(595,043)

534,581

–

–

(60,462)

Grants paid from Designated Funds

–

320,004

–

(320,004)

–

Transfers to Designated Funds

– (650,455) – 650,455 –

Investment movement – 15,050 (15,050) – –

Transfer to Restricted Funds

403,718

(403,718)

–

–

Costs of generating voluntary income allocated to restricted funds 91,937 (91,937)

–

–

– Costs of charitable activities allocated to restricted funds – 46,799 (46,799)

–

–

–

Gross transfers between funds 542,454 (542,454) – – –

Funds per Balance Sheet at 31 December 2014

702,460

1,059,722

431,500

1,590,009

3,783,691

Analysis of Net Assets Restricted Unrestricted Investment Designated Total Funds Funds Fund Fund Funds £ £ £ £ £ Fixed Asset Investments – 772,268 431,500 – 1,203,768 Net Current assets 702,460 287,454 – 1,590,009 2,579,923 Net Assets at 31 December 2014

702,460

1,059,722

431,500

1,590,009

3,783,691



25

12. INVESTMENTS Group and Foundation 31 December

2014 30 September

2013 £ £ Cost of Investments at 30 September 2013 998,933 975,165 Net cumulative gain on revaluation at 30 September 2013 85,956 72,868 Market Value at 30 September 2013 1,084,889 1,048,033 Acquisitions at cost 1,029,599 132,707 Sale proceeds (1,099,425) (126,398) Realised gain on investments sold 7,272 6,676 Changes in investment holding gains 34,130 23,871 Market Value at 31 December 2014 1,056,465 1,084,889 Cost of Investments at 31 December 2014 1,006,427 998,933 Net cumulative gain on revaluation at 31 December 2014 50,038 85,956 Market Value at 31 December 2014 1,056,465 1,084,889 Cash held as part of portfolio 147,303 46,197 1,203,768 1,131,086 Allocation of Portfolio Investment Fund 431,500 446,550 Unrestricted Fund 772,268 684,536 1,203,768 1,131,086 Investment gains Realised gain on investments sold 7,272 6,676 Changes in investment holding gains/(losses) 34,130 23,871 Net gain in the period 41,402 30,547 All investments are listed on the UK Stock Exchange. At 31 December 2014 the following holdings represented over 5% of the portfolio by market value. Barclays Multi ManagerFund Global Access 5.6% Pimco Funds Global Investors 7.8% 13. DEBTORS Group Foundation 31 December

2014 30 September

2013 31 December

2014 30 September

2013 £ £ £ £ Interest Receivable 1,950 2,588 1,950 2,588 Charity Debtors 26,290 8,398 26,290 8,398 Prepayments 1,613 4,189 1,613 4,189 29,853 15,175 29,853 15,175 Due from Task Trading Limited: - Profit for the period – – 31,789 24,647 - Balance of Task Trading A/c at 31 December 555 3,081 29,853 15,175 62,197 42,903



26

14. CREDITORS: amounts falling due within one year Group Foundation 31 December

2014 30 September

2013 31 December

2014 30 September

2013 £ £ £ £ Grants due 77,847 41,777 77,847 41,777 Trade creditors 28,932 72,926 25,679 61,787 Other creditors 20,674 13,377 18,912 11,936 PAYE/NIC due to HMRC 7,149 6,790 7,149 6,790 VAT due to HMRC 3,017 545 - - 137,619 135,415 129,587 122,290 15. RELATED PARTY TRANSACTIONS During the financial period Lindsays provided legal advice. David Reith, who was a Trustee until 16 March 2015, is a partner of Lindsays. The total fees invoiced, excluding VAT, for the fifteen months to 31 December 2014 were £690 (zero in 2012/13). Radio Lollipop Limited provided DJ services to the charity at a cost of £150 in 2012/13. Isabel McCallum, a Trustee, is a director of Radio Lollipop Limited. Certain expenses of Task Trading are paid by The Sick Kids Friends Foundation and are reimbursed during the period. The amounts due from Task Trading at 31 December 2014 represented the profit for the period of £31,789 (£24,647 in 2012/13) and £555 (3,081 in 2012/13) in respect of net expenditure by The Sick Kids Friends Foundation on behalf of Task Trading. 16. SUBSIDIARY COMPANIES The following companies are subsidiaries of The Sick Kids Friends Foundation: Name Country of

incorporation Company registration number

Nature of business

The Sick Kids Friends (Little France) Ltd

Scotland

SC390634

Dormant

Task Trading Ltd Scotland SC123976 Retail Trading 17. ULTIMATE CONTROLLING ENTITY The Sick Kids Friends Foundation is controlled by its voluntary Board of Trustees. There is no parent company.


27

Name and Address Trustees The Sick Kids Friends Foundation The Trustees who held office during the period and

up to the date of signing Accounts were: The Royal Hospital for Sick Children David Reith (Chair) (resigned 16 March 2015) 20 Millerfield Place Robin Blacklock Edinburgh Elizabeth Bremner (appointed 28 August 2014) EH9 1LW Stephanie Donaldson Telephone: 0131 668 4949 Michael Dow (Vice-Chair) Scottish charity number: SC 020862 Stephen Dunn (resigned 25 August 2014) Company registration number: SC 385020 www.edinburghsickkids.org

Lindsay Gardiner (appointed 23 February 2015) Lucy Jukes (resigned 18 August 2014) Elizabeth Kerr Paul Leonard

Gordon MacKinlay OBE Isabel McCallum Royal Patron HRH Princess Beatrice of York

Lady Stewart Suzanne Wilson

Chair

David Reith (resigned 16 March 2015) Lindsay Gardiner (appointed 16 March 2015)

Chief Executive Maureen Harrison (retired 12 January 2015) Roslyn Neely (commenced 12 January 2015)

Auditors Audit Committee Henderson Loggie Michael Dow 34 Melville Street Stephen Dunn (resigned 25 August 2014) Edinburgh EH3 7HA Elizabeth Kerr Grant Macrae (co-opted 2 December 2014) Bankers Bank of Scotland Head Office The Mound Edinburgh EH1 1YZ Investment Advisers Barclays 11 Melville Crescent Edinburgh EH3 7LU Lawyers Lindsays Caledonian Exchange 19A Canning Street Edinburgh EH3 8HE PR Advisers Beattie Media 18 Glasgow Road Uddingston Glasgow G71 7AS

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