ASSOCIATION FOR SPINA BIFIDA AND HYDROCEPHALUS · PDF fileASSOCIATION FOR SPINA BIFIDA AND HYDROCEPHALUS ... The Association for Spina Bifida and ... which could be in the unborn child

Company Registration Number: 877990

Charity Registration Number: 249338

ASSOCIATION FOR SPINA BIFIDA AND HYDROCEPHALUS

REPORTS AND FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2011


COMPANY INFORMATION

Secretary Brian S Delves-Deffee MBA, FCCA, ACMA

Registered Office ASBAH House

42 Park Road Peterborough

PE1 2UQ

Auditors Saffery Champness

Stuart House

City Road Peterborough

PE1 1QF

Bankers The Co-operative Bank Plc

33 Westgate Peterborough

PE1 1PU

Solicitors Hegarty & Co

48 Broadway Peterborough

PE1 1YW


CONTENTS

Page

DIRECTORS’ REPORT 1 – 8

INDEPENDENT AUDITORS’ REPORT 9 – 10

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES 11 – 12

CONSOLIDATED SUMMARY OF INCOME AND EXPENDITURE 13

STATEMENT OF FINANCIAL ACTIVITIES OF THE CHARITY 14 – 15

BALANCE SHEETS 16

CONSOLIDATED CASHFLOW STATEMENT 17 – 18

NOTES ON THE FINANCIAL STATEMENTS 19 – 28

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ASSOCIATION FOR SPINA BIFIDA AND HYDROCEPHALUS DIRECTORS’ REPORT


The trustees are pleased to present their report together with the financial statements of the charity for the year

ended 31 March 2011.

Reference and Administrative details of the Charity, Its’ Trustees and Advisors

Registration details Charity number 249338 Company number 877990

Registered Office ASBAH House, 42, Park Road, Peterborough, PE1 2UQ

Royal Patron HRH The Duchess of Gloucester GCVO

President Dr Jeffrey Tate CBE

Patron Dennis Bryant

Patrick Daunt Ruth Madoc

The Baroness Masham of Ilton, Countess of Swinton DL The Rt. Hon. The Lord O’Neill TD DL

Danny Mills David Proud

Dr Rob Hicks

Directors & Trustees The directors of the charitable company (the charity) are its trustees for the purpose of charity law and throughout

this report are collectively referred to as the trustees.

The trustees serving during the year and since the year end were as follows:

Mike Allen (Hon. Treasurer)

Carole Armour

Richard H Astle (Chairman)

Professor Roger Bayston (appointed 22 September 2010) Jonathan Burke (appointed 22 September 2010)

Lisa Cain

Sarah Coates

Austin Crowther (Vice Chairman)

Katrina Grounsell

David Hallows (retired 1 July 2010)

Judith Hayeem (retired 1 July 2010)

Louise Iontton

Paul Manning

Michael McKernan

David Nicholson (retired 16 June 2010)

Eric Prentice

Tim Robinson

Beverley Rowe

Louise Turner (appointed 4 April 2011)

Lorraine Watson

Neil Watts

Paul Zickel

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It is confirmed that none of the serving trustees had any beneficial interest in any contract with ASBAH in the year.

In accordance with Articles 32, 40 & 41, the following trustees retire and offer themselves for re-election;

Richard Astle Lisa Cain

Beverley Rowe Katrina Grounsell

Sarah Coates Paul Zickel

Senior Management Team

Chief Executive Jackie Bland

Finance Director

& Company Secretary

Brian S Delves-Deffee MBA FCCA ACMA

Country Director Northern Ireland Cathy Mckillop

Country Director Wales Kate Thomas

Assistant Director (Special Appeals) Annette Angell

Principal Professional Advisers

Auditors Saffery Champness, Stuart House, City Road, Peterborough, PE1

1QF

Bankers The Co-operative Bank plc, 33 Westgate, Peterborough, PE1 1PU

Insurance Brokers Henderson Insurance Brokers Ltd. 8, The Forum,

Peterborough, PE2 6FT

Pensions Administrator The Pensions Trust, 6, Canal Wharf,

Leeds, LS11 5BQ

Solicitors Hegarty & Co. 48, Broadway, Peterborough PE1 1YW

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Structure, Governance and Management

Governing Document

The Association for Spina Bifida and Hydrocephalus (ASBAH) is a charitable company limited by guarantee and

was formed on 28 April 1966. A Memorandum and Articles of Association govern it, which were last amended on 18

September 2004. The company has obtained permission to dispense with the word “limited” in its title. Because it is

a company limited by guarantee it has neither share capital nor shareholders. Instead it has Members who are

guarantors for up to £5 each in the event of winding up the company. The company is registered as a charity with

the Charity Commission.

Appointment of trustees

As set out in the Articles of Association new trustees are nominated by Members for up to a three year term. The

trustees are elected (or re elected) at the Annual General Meeting. There may be up to 20 trustees, a third of the

trustees stand for re-election each year.

Trustee induction and training

New trustees undergo an induction day where they meet the Senior Management Team and other key employees.

They are briefed on their legal obligations under charity and company law, the content of the Memorandum and

Articles of Association, the committee decision making process, the business plan, and recent financial

performance of the charity.

Organisation

The board of trustees, which can have up to 20 members, administers the charity. The board meets around 4 times

a year, and there are sub committees covering Policy & Resources, AAMC, and Medical which meet at least twice a

year. The day-to-day management of the charity is delegated to the Chief Executive, who reports to the trustees.

The Chief Executive is assisted in the day-to-day management by the Senior Management Team.

Related parties

The charity has close relationships with 26 affiliated local associations. These are independent charities for spina

bifida and hydrocephalus in their own right. The charity also works in partnership with many other bodies, voluntary

and statutory, in carrying out work to support service users, undertake research and disseminate information. The

charity is a member of, for example, the Neurological Alliance and the Disability Alliance ensuring that the quality of

both practice and medical research is consistently professional.

The charity owns the entire share capital of ASBAH (Trading) Limited registered in England and Wales. The

principal activity of ASBAH (Trading) Limited includes the sale of advertisements and the sale of virtual balloons for

balloon races, raising funds for the charity.

Risk Management

The board of trustees recognise that they are responsible for the identification and management of the major risks

facing the charity. Risk management is well established in ASBAH having been formally introduced in 2003. A Risk Register is maintained and shared annually with the trustees (more frequently if a significant issue is realised). The

Register covers the following seven areas: Governance, External, Operations, People, Financial, Compliance and Reporting. At the time of this report the trustees advise that their main concern is the economic climate. There has

been a significant reduction in income from our trading subsidiary directly as a result of the current economic downturn. We are continuing to make structural and strategic changes to the organisation to mitigate this risk.

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Objectives & Activities

A summary of the Objectives of the charity, as stated in ASBAH’s governing document, are for the relief of persons

who have spina bifida and / or hydrocephalus or allied or related disorders by providing for their care, welfare, treatment, education, and integration into society.

The charity’s activities are taken from the Strategic Plan 2006 – 2011 where:

ASBAH’s Vision is a future where everyone with spina bifida or hydrocephalus can get the most out of life.

ASBAH’s Mission is to work with people who have spina bifida and / or hydrocephalus (SB/H), their

families and carers to promote individual choice, control and quality of life.

To achieve its vision, ASBAH works to four main Aims:

1. To improve and inform public attitudes towards disabled people, and those with spina bifida and / or hydrocephalus in particular, so that society becomes inclusive.

2. To influence and inform professional workers, agencies and government about spina bifida and

hydrocephalus, so that a comprehensive range of support is provided, through health, education, social employment and other services.

3. To value people with spina bifida and / or hydrocephalus and involve them fully in the Association.

4. To be widely recognised and known as the leading source of information and expertise on

hydrocephalus and spina bifida.

Trading Subsidiary

The consolidated accounts include ASBAH (Trading) Limited which is a wholly owned trading subsidiary of ASBAH

(see note 4 and note 8). The principal activity of the company is to raise funds for the charity. The directors are satisfied that the company will provide moderate future growth.

Achievements & Performance

ASBAH works with families, individuals and carers on all aspects of living with spina bifida and hydrocephalus, to overcome challenges and encourage achievements.

This support can be at any stage:

1. For those planning pregnancy - on how to reduce the risk of neural tube defects, by taking folic acid at the right time

2. At diagnosis – which could be in the unborn child or, in the case of hydrocephalus, at any time of life throughout childhood and adult life for all those affected by the disabilities.

Working together with families and individuals, ASBAH aims to empower them to obtain the best possible health, social and other services to meet their needs and to share the up-to-date and accurate information they need to live

their lives to the full.

ASBAH’s comprehensive information is regularly reviewed, updated and expanded and available online in addition to printed material. Our aim is to provide information for children in colourful easy to understand publications. We

produce valuable information for families and individuals and also for the health, social care, education and employment professionals who work with them. We have organised information days to increase understanding for

families, young people and professionals. ASBAH has taken part in exhibitions aimed at health professionals as well as relevant lay audiences to promote awareness of the work we do and share information.

Our health and education advisers contributed articles to nursing and special educational needs journals, on

continence management and learning and hydrocephalus.

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ASBAH’s partnership with the Fetal Anomaly Screening Programme (FASP) resulted during 2010 in the publication of new care pathways for patients diagnosed with an NTD affected pregnancy as well as for infants born with spina

bifida up to their first birthday. FASP will now be developing standards to enable NHS providers to implement the

care pathways and for practice in this area to be monitored. As part of the pathway ASBAH is recommended as a source of information and support for parents.

ASBAH’s Services Department received thousands of contacts during the year, dealing with general enquiries on a

range of subjects and referring callers needing more specialised help and information to our health, education and community advisers. Our teams of professional advisers continue to provide support, across the country: from the

time of diagnosis, to getting the best possible education for children to enable them to reach their potential, and working with adults to help them take control of the challenges they face, maximise their opportunities and enjoy

their lives. Coming to ASBAH from nursing, teaching, social work, therapy and allied backgrounds, the advisers also work with other professionals to assist their understanding of the impact of the disabilities on learning, health

and social wellbeing.

ASBAH in Wales and Northern Ireland continued to reach out to those who could benefit from our services with services in both countries expanding largely through project funding. Big Lottery funding in Northern Ireland has

enabled the development of support and social groups which have significantly improved the opportunities available to individuals with spina bifida and hydrocephalus and their families. In Wales, work was initiated to determine the

most effective mechanisms for ASBAH CYMRU and the local associations to work together and pilot volunteering project has begun.

Under its new Lifelong Opportunities Programme ASBAH organised a young people’s activity day in Yorkshire and

a ‘Bowel and Bladder’ Day in Peterborough. A full calendar of events across England, Wales and Northern Ireland has now been developed which shows the regular activities of social groups supported by ASBAH’s advisers.

Our major new campaign Go Folic! was launched in March, bringing together politicians and supporters from the

corporate sector in a drive to increase women’s uptake of folic acid prior to conception. The Go Folic! website www.gofolic.co.uk was launched and the campaign was endorsed by Health Minister Anne Milton.

Current research projects funded by ASBAH include:

A study of the health and social functioning of adults with hydrocephalus and spina bifida, looking at health and psychological aspects, and to establish strategies for recommended intervention and guidelines for

health professionals.

A study of magnetic resonance image (MRI) scanning for pregnant women with an antenatal diagnosis of fetal spina bifida or possible hydrocephalus, to improve the information that the mother can be given and

assist neonatal management. During the year under review, ASBAH has received further significant funding for the ongoing support of this work on MRI.

ASBAH also assisted in recruiting subjects for other research studies including: Spina Bifida Genetics Research,

Coping with Prenatal Diagnosis of Fetal Anomaly, and Experience of Clinical Trials.

Public benefits

ASBAH is a specialised charity and constantly works to become better known to the public, communicating the

value of our work in our field and the wider public benefits this brings. The following are examples of direct public benefits of ASBAH’s work:

• A new membership scheme bringing all 9,000 of ASBAH’s members together into a cohesive supportive

community • A newsletter ‘Together’ four times a year mailed out to members and containing a range of news,

information and feature material • A network of over 40 professionally qualified advisers who inform, support and advise and attend clinics

across the country to offer additional support and information

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• A busy national first point of contact service, open 5 days a week • A lifelong opportunities programme of events; for disabled adults to increase independent living skills, for

parents/carers to increase understanding and for young people to enhance social skills • A range of high quality publications for use by individuals and their families, health professionals and others

• A range of social networking sites to bring people with similar life experiences and issues together • Campaigns and initiatives to bring about positive changes in the lives of our beneficiaries

• Social and support groups throughout England, Wales and Northern Ireland which bring people together to

share activities and experiences and offer peer support • Training and awareness sessions for professionals in education and health care settings

• An Adult Members Council offering members the chance to be more involved in the organisation and to use their skills experience and influence in the delivery of the charity’s work

Support professionals by providing specialised information and advice

• Working with doctors and the NHS for better diagnosis and medical support • Informing health and education professionals about spina bifida and hydrocephalus, through exhibitions,

study days and publications; • ASBAH advisers attend multi-disciplinary clinics for those with spina bifida and/or hydrocephalus

Influence to Improve Practice and Policy

• Promotion of the vitamin folic acid to prevent spina bifida • Involving disabled service users in ASBAH’s governance and activities

• Approaching funders for overseas medical and social care in poor nations • Improve public information and attitudes to disabled people

• ASBAH promotes positive images of disability, to celebrate success and overcome negative perceptions of disabled people

• A well designed and acclaimed website attracts a large worldwide audience.

Medical Research to Improve Treatment and Quality of Life • Funding a range of research studies in centres of excellence;

• Encouraging and co-operating with specialist researchers in the UK and overseas; • Disseminating research outcomes so they are translated into practice.

All our work is made possible by the generosity of donors, the support of volunteers, through the work of our

Fundraising Department and our wholly owned trading company, ASBAH (Trading) Ltd. We continue to succeed in gaining the vital support of individuals, trusts and companies in a highly competitive fundraising environment by

demonstrating the scope and benefits of our work. We value highly the tremendous support from all our donors.

Financial Review

The accounts which form part of this report, comply with the requirements of the Accounting and Reporting by

Charities: Statement of Recommended Practice 2005 (SORP 2005). The trustees consider that in preparing these accounts, they have consistently applied appropriate accounting policies supported by reasonable and prudent

judgements and estimates where required.

Financial Reserves Policy

ASBAH holds financial reserves to be applied to future activities in a number of categories. Unrestricted (or free) – available to be applied, at the discretion of the trustees, to any of ASBAH’s charitable purposes.

Designated – funds set aside out of unrestricted by the trustees for specific purposes.

Restricted – to be applied to the specific purpose(s) intended by the donor.

ASBAH has a close relationship with a number of affiliated local associations. Over a number of years various

associations have closed and funds donated to ASBAH. These have been treated as restricted funds. During the year ASBAH applied to the Charities Commission to allow the remaining funds to be treated as unrestricted.

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The Charity Commission agreed to this and a transfer of £160,000 has been included in the statement of financial

activities.

Free financial reserves are held to provide adequate working capital should a significant reduction in income be realised. As approximately 80% of the charity’s costs are staff related the trustees have set a policy reserve level of

£500,000.

Investment Policy

Under the governing document the charity has the power to make any investment, which the trustees see fit. An investment policy is in place that intends to move all the charity’s share investments to Common Investment Funds

(CIF’s) or Unit Trusts to provide the best spread at minimal cost and risk. At the year end, 90% of the share investments value are held in CIF’s / Unit Trusts.

The Policy & Resources Committee regularly review what ethical investment stance the charity should take. Any

industry’s activities considered to be at odds with our mission will be excluded from our portfolio.

Grant Making Policy

The organisation has had to restrict its grant making policy in response to a fall in income in this area of its work.

Advisers will help individuals at local level access grants from outside bodies. Grants are only available direct from

ASBAH in situations of genuine emergency.

Overview of financial management of organisation

The charity has in place an annual budgetary process that seeks to ensure financial stability. Each year we also

conduct three forecasts plus a rolling three year plan. For this current year we would report an excellent turnaround as our restructuring benefits begin to be realised, the restructuring taking into account reduction in

managers, administrative staff and advisers plus reorganising work patterns and departments. As a result ASBAH the Charity generated an operating deficit of £23k (£132k Unrestricted surplus and £155k Restricted net drawdown)

before investment gains of £14k. As an organisation we are constantly seeking to broaden the range of our income streams. We are still very heavily reliant on our trading subsidiary, which this year contributed £525k, almost the

same as last year £530k. Legacies were a significant income source and we received £516k up on last year’s figure of £260k. Our other significant income streams were Grants £534k again significantly up on last year £325k.

Individuals / Community Events continue to improve being £348k (last year £291k), Trusts which continues to increase £187k (last year £158k) and Corporate Donors also gradually increasing at £54k (last year £27k).

Our investment in alternative sources of income continues and so our marketing and publicity spend was £56k, being up on last year of £33k. At the same time we continued to invest in our fundraising, the expenses being

£324k for the year (up on last year - £296k).

We are pleased to advise that despite the economic downturn our trustees have approved the use of our reserves to provide front line services. Our spend on direct support to those with spina bifida and/or hydrocephalus and their

families being £1,841k, up on last years figure of £1,674k. Information for the public was £39k, slightly up on last years’ figure of £37k.

The financial stability of the charity has improved over the past twelve months, though the ongoing economic

climate remains fragile. At year-end we hold free reserves of £819k (equal to just over three months) against our revised reserves policy level of £500k.

Plans for Future Periods

Following a decision at an EGM in May 2011 the Association will undergo a rebranding exercise in October 2011 to coincide with the implementation of its new strategic plan. This plan sets out a new direction for ASBAH with a

commitment to being a more dynamic, membership driven and effective organisation by its 50th anniversary in 2016. Key pieces of work over the next year will include:

• The consolidation and development of the new membership scheme after a successful pilot period during which Big Lottery funding was secured to employ a Membership Development Officer

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• Production of a newsletter four times during the year mailed directly to all 9,000 members

• Further development of the Go Folic! campaign in a bid to prevent the occurrence of Neural Tube Defects • Work to establish the importance of the vitamin B12 in the prevention of neural tube defects

• Development of the Adult Members Council to play a central role within the organisation

• Rolling out of an effective marketing plan to raise awareness of spina bifida and hydrocephalus and highlight the key issues which affect our members

• A major health survey of all our members and a report based on this • The development of the adviser role into a Regional Development role

• The establishment of at least 12 new support groups at local level • A review of our support of and relationship with local affiliated associations

• The development of new finance systems and a more detailed long term financial strategy to support the strategic plan

Statement of Directors’ Responsibilities

The directors, who also act as Trustees for the charitable activities of the Association for Spina Bifida and

Hydrocephalus, are responsible for preparing the annual report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

Company law requires the directors to prepare financial statements for each financial year which give a true and fair

view of the state of affairs of the charity and the group and of the net income or expenditure of the group for the year. In preparing these financial statements the directors are required to:

• select suitable accounting policies and then apply them consistently; • make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and the group 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 charity and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors

So far as the directors are aware, there is no relevant audit information of which the group’s auditors are unaware. Additionally, the directors have taken all the necessary steps that they ought to have taken as directors in order to

make themselves aware of all relevant audit information and to establish that the group’s auditors are aware of that information.

Appointment of Auditors

Saffery Champness have expressed their willingness to remain in office as auditors of the company.

Going Concern

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ASSOCIATION FOR SPINA BIFIDA AND HYDROCEPHALUS INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES


We have audited the group and charity’s financial statements for the Association for Spina Bifida and Hydrocephalus for the year ended 31 March 2011 set out on pages 11 to 28. 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 company’s members, as a body, in accordance with Chapter 3 of Part 16 of the

Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members 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 company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Respective responsibilities of trustees and auditors

As explained more fully in the Trustees’ Responsibilities Statement, the trustees (who are also the directors of the 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.

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 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 charity's circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant

accounting estimates made by the trustees; and the overall presentation of the financial statements. In addition, we

read all the financial and non-financial information in the [describe the annual report] to identify material inconsistencies with the audited financial statements. 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 group and the charity’s state of affairs as at 31 March 2011 and of its incoming

resources and application of resources, including its income and expenditure, for the year then ended; • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the Companies Act 2006.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion the information given in the Trustees’ Annual Report for the financial year for which the financial statements are prepared is consistent with the financial statements.

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ASSOCIATION FOR SPINA BIFIDA AND HYDROCEPHALUS INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES (continued)


Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from

branches not visited by us; or • the financial statements are not in agreement with the accounting records and 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.

11

ASSOCIATION FOR SPINA BIFIDA AND HYDROCEPHALUS CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES


Unrestricted Restricted Total Total

Fund Funds 2011 2010

Note £ £ £ £

INCOMING RESOURCES

Voluntary:

Donations 2 550,757 138,518 689,275 610,840

Legacies 516,482 - 516,482 260,720

Grants receivable 3 - 533,542 533,542 325,208

Sponsorship monies 10,000 38,500 48,500 10,804 Activities for generating funds: Trading turnover of subsidiary 4 1,019,595 - 1,019,595 1,106,904

Gifts sold through shops 188,495 - 188,495 183,635

Sale of Raffle Tickets 15,131 15,131 - Investment income 10,676 - 10,676 16,561

Incoming resources from charitable activity:

Publications and fees 6,367 - 6,367 8,249 Other incoming resources 5,937 - 5,937 11,203

________ ________ ________ ________

Total Incoming Resources 2,323,440 710,560 3,034,000 2,534,124

______ ______ ______ ______

RESOURCES EXPENDED

Cost of generating funds: Trading costs of subsidiary 4 497,395 - 497,395 579,173

Shops 196,600 - 196,600 193,586 Fundraising 5 324,404 - 324,404 296,845

Marketing & publicity 56,262 - 56,262 33,773 ________ ________ ________ ________

1,074,661 - 1,074,661 1,103,377

________ _______ _______ ________

Charitable activities Support to those with spina bifida

& hydrocephalus and their families 1,157,481 683,490 1,840,971 1,674,426 Grants payable - 22,174 22,174 20,027

Services to local associations 51,960 - 51,960 52,014

Public information 39,015 - 39,015 36,856 Governance costs 31,023 - 31,023 34,538

______ ______ ______ ______ 1,279,479 705,664 1,985,143 1,817,861

______ ______ ______ ______ Total Resources Expended 5 2,354,140 705,664 3,059,804 2,921,238

______ ______ ______ ______ Net Incoming resources before transfers

12

(carried forward) (30,700) 4,896 (25,804) (387,114)

13

ASSOCIATION FOR SPINA BIFIDA AND HYDROCEPHALUS CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES



Fund Funds 2011 2010 Note £ £ £ £

Net Incoming resources

before transfers (brought forward) (30,700) 4,896 (25,804) (387,114)

Transfers 160,000 (160,000) - - ________ ________ ________ ________

Net Incoming resources before investments gains 129,300 (155,104) (25,804) (387,114)

Profit on investment disposals 4,209 - 4,209 127,304

Gain on revaluation of investments 9,480 - 9,480 -

______ ______ ______ ______

Net movement in funds 142,989 (155,104) (12,115) (259,810)

Fund balance brought forward at 1 April 2010 694,327 543,736 1,238,063 1,497,873

________ ________ ________ ________

Fund balances carried forward at 31 March 2011 837,316 388,632 1,225,948 1,238,063

________ ________ ________ ________

The notes on pages 19 to 28 form part of these accounts.

The group has no recognised gains or losses other than those shown above.

All amounts relate to continuing operations.

14

ASSOCIATION FOR SPINA BIFIDA AND HYDROCEPHALUS CONSOLIDATED SUMMARY INCOME AND EXPENDITURE ACCOUNT


2011 2010

£ £

Note

Gross charitable income 2,014,405 1,427,320

Non-charitable trading income 4 1,019,595 1,106,804 ________ ________

3,034,000 2,534,124

Total expenditure 5 3,059,804 2,921,238

________ ________

(25,804) (387,114)

Realised (losses)/gains on investments 70,466 68,154 ________ ________

Net surplus for the year 44,662 (318,960) ________ ________

Total income comprises £2,323,440 for unrestricted funds and £710,560 for restricted funds. A detailed analysis of

income by source is provided in the Statement of Financial Activities.

Detailed analyses of the expenditure are provided in the Statement of Financial Activities and Note 5.

Gross expenditure for the year comprises £2,354,140 expenditure from unrestricted funds and £705,664

expenditure from restricted funds, as shown in the Statement of Financial Activities.

The Summary Income and Expenditure Account is derived from the Statement of Financial Activities on pages 11

and 12, which together with the notes to the financial statements on pages 19 to 28, provides full information on the

movements during the year on all the funds of the group.

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ASSOCIATION FOR SPINA BIFIDA AND HYDROCEPHALUS STATEMENT OF FINANCIAL ACTIVITIES OF THE CHARITY




£ £ £ £

INCOMING RESOURCES

Voluntary:

Donations 550,757 138,518 689,275 610,840

Legacies 516,482 - 516,482 260,720

Grants receivable - 533,542 533,542 325,208

Sponsorship monies 10,000 38,500 48,500 10,804 Activities for generating funds:

Gift aid from subsidiary 525,000 - 525,000 530,000 Gifts sold through shops 188,495 - 188,495 183,635

Sale of Raffle Tickets 15,131 - 15,131 - Investment income 10,676 - 10,676 16,561

Incoming resources from charitable activity:

Publications and fees 6,367 - 6,367 8,249

Other incoming resources 5,937 - 5,937 11,203 ________ ________ ________ ________

Total Incoming Resources 1,828,845 710,560 2,539,405 1,957,220

______ ______ ______ ______ RESOURCES EXPENDED Cost of generating funds:

Shops 196,600 - 196,600 193,586 Fundraising 324,404 - 324,404 296,845

Marketing & publicity 56,262 - 56,262 33,773 ________ ________ ________ ________

577,266 - 577,266 524,204

________ ________ ________ ________

Charitable activities Support to those with spina bifida

& hydrocephalus and their families 1,157,481 683,490 1,840,971 1,674,426 Grants payable - 22,174 22,174 20,027

Services to local associations 51,960 - 51,960 52,014 Public information 39,015 - 39,015 36,856

Governance costs 31,023 - 31,023 34,538

______ ______ ______ ______ 1,279,479 705,664 1,985,143 1,817,861

______ ______ ______ ______ Total Resources Expended 1,856,745 705,664 2,562,409 2,342,065

______ ______ ______ ______ Net (outgoing)/incoming resources before transfers (carried forward) (27,900) 4,896 (23,004) (384,845)

16

ASSOCIATION FOR SPINA BIFIDA AND HYDROCEPHALUS STATEMENT OF FINANCIAL ACTIVITIES OF THE CHARITY




£ £ £ £

Net (outgoing)/incoming resources before (27,900) 4,896 (23,004) (384,845) transfers (brought forward)

Transfers 160,000 (160,000) - -

________ ________ ________ ________

Net Incoming Resources Before investment gains 132,100 (155,104) (23,004) (384,845)

Profit on investment disposals 4,209 - 4,209 127,304

Gain on revaluation of investments 9,480 - 9,480 -

________ ________ ________ ________

Net movement in funds 145,789 (155,104) (9,315) (257,541)

Fund balance brought forward

At 1 April 2010 673,478 543,736 1,217,214 1,474,755

______ ______ ______ ______ Fund balances carried forward

At 31 March 2011 819,267 388,632 1,207,899 1,217,214

______ ______ ______ ______

The notes on pages 19 to 28 form part of these accounts.

The Charity has no recognised gains or losses other than those shown above.

All amounts relate to continuing operations.

Financial statements approved by the board on 7 July 2011.

Signed on behalf of the Board of Directors

17

ASSOCIATION FOR SPINA BIFIDA AND HYDROCEPHALUS BALANCE SHEETS 31 MARCH 2011

Group Charity

Notes 2011 2010 2011 2010

£ £ £ £

FIXED ASSETS

Tangible assets 7 1,344,284 1,379,100 1,335,926 1,363,680

Investments 8 391,259 476,252 391,259 476,252

________ ________ ________ ________

1,735,543 1,855,352 1,727,185 1,839,932

________ ________ ________ ________ CURRENT ASSETS

Debtors 9 271,697 304,979 596,257 593,697 Deposits with banks 467,933 453,600 467,933 453,600

Cash at bank and in hand 75,572 34,902 58,329 9,291 ________ ________ ________ ________

815,202 793,481 1,122,519 1,056,588

________ ________ ________ ________ CURRENT LIABILITIES

Creditors falling due within one year 10 377,855 456,360 694,863 724,896 ________ ________ ________ ________

NET CURRENT ASSETS 437,347 337,121 427,656 331,692

________ ________ ________ ________

TOTAL ASSETS LESS CURRENT LIABILITIES 2,172,890 2,192,473 2,154,841 2,171,624

Debtors due after more than one year 2,317 10,429 2,317 10,429 Creditors due after more than one year 11 (949,259) (964,839) (949,259) (964,839)

________ ________ ________ ________

NET ASSETS 1,225,948 1,238,063 1,207,899 1,217,214 ________ ________ ________ ________

INCOME FUNDS

Restricted funds 12 388,632 543,736 388,632 543,736

Unrestricted funds: Designated funds 13 - 30,152 - 30,152

Revaluation reserve – Investment assets 14 67,014 123,791 67,014 123,791 Other charitable funds 752,253 519,535 752,253 519,535

Non-charitable trading funds 4 18,049 20,849 - -

______ ______ ______ ______ 1,225,948 1,238,063 1,207,899 1,217,21

______ ______ ______ ______

18

19

ASSOCIATION FOR SPINA BIFIDA AND HYDROCEPHALUS CONSOLIDATED CASH FLOW STATEMENT


2011 2010 £ £ £ £

Cashflow from operating activities (Note A) (35,862) (416,624)

Returns on investment and servicing of finance:

Investment income – interest 939 2,359 Interest paid (15,512) (16,543)

Dividend income 9,737 14,202 ________ ________

(4,836) 18

Capital expenditure and financial investment

Purchase of tangible fixed assets (2,980) (13,821) Purchase of investments (1,319) (2,030)

Proceeds from sale of investments 100,000 101,462 Increase in deposits with banks - 4,805

________ ________ 95,701 90,416

________ ________

(Decrease)/Increase in cash in the period (Note B & C) 55,003 (326,190) ________ ________

20

ASSOCIATION FOR SPINA BIFIDA AND HYDROCEPHALUS CONSOLIDATED CASH FLOW STATEMENT


Notes to the cashflow statement

Note A – Reconciliation of operating surplus to 2011 2010

Operating cashflows £ £

Net incoming resources before transfers (25,803) (387,114) Investment income (10,676) (16,561)

Interest paid 15,512 16,543 Depreciation 37,796 48,874

Decrease in debtors 41,394 61,399 (Decrease)/increase in creditors (94,085) (139,765)

________ ________

(35,862) (416,624) ________ ________

1 April Cashflow 31 March 2010 2011

Note B – Analysis of net funds £ £ £

Cash at bank and in hand 34,902 40,670 75,572

Deposits with banks 453,600 14,333 467,933 ________

55,003

Debt due within one year (96,206) 35,517 (60,689) Debt due after one year (964,839) 15,580 (949,259)

________ ________ ________

(572,543) 106,100 (466,443) ________ ________ ________

Note C – Reconciliation of net cash flow to 2011 2010

Movement in net funds £ £

Increase in cash in the year 55,003 (326,190) Cash outflow from decrease in debt 51,097 79,663

________ ________ Movement in net debt in the year 106,100 (246,527)

Opening net debt (572,543) (326,016)

________ ________

Closing net debt (466,443) (572,543) ________ ________

21

ASSOCIATION FOR SPINA BIFIDA AND HYDROCEPHALUS NOTES TO THE FINANCIAL STATEMENTS


1. ACCOUNTING POLICIES

Basis of Accounting

The financial statements have been prepared under the historical cost convention as modified by the

revaluation of investments and in accordance with applicable accounting standards and the Statement of

Recommended Practice – Accounting and Reporting by Charities (revised 2005).

Basis of Consolidation

The consolidated accounts incorporate the results for the year ended 31 March 2011 of the Charity and of

its wholly owned subsidiary.

Incoming Resources

Income from donations is accounted for when received. Legacies are included when the Charity is advised

by the personal representative of an estate that payment will be made or property will be transferred and

the amount involved can be quantified. Grant income is recognised according to the terms of each

individual agreement. All other income is dealt with on an accruals basis. Gifts donated for resale are

included as income when they are sold. No amounts are included in the financial statements for services

donated by volunteers.

Resources Expended

Direct expenditure is analysed and charged to the department incurring the cost. Expenditure is included

when incurred, the majority of costs being directly attributable to specific activities. Where costs cannot be

directly attributed to particular headings, they have been allocated to activities on a basis consistent with

use of the resources. Premises overheads have been allocated on a floor area and head count basis.

A commitment to pay a research grant arises when approval for the grant is given by the Policy &

Resources Committee and is recognised at the date of approval. All other grants are recognised when

paid. Fundraising, marketing and publicity costs are those incurred in seeking voluntary contributions and

do not include the costs of disseminating information in support of charitable activities. Governance costs

are those incurred in connection with the governance arrangements of the Charity and compliance with

constitutional and statutory requirements.

Fixed Assets

Assets over £1,000 in value are capitalised at cost. Tangible assets are depreciated on the straight-line

basis at the following rates:

Buildings 2%

Furniture, fittings and equipment 20%

Fixed Asset Investments

As required by the Statement of Recommended Practice, investment assets are included at market value.

Unrealised gains and losses on investments are recognised in the statement of financial activities in the

period in which they occur.

Operating Leases

Rentals payable under operating leases are charged in the period in which they are incurred.

22



Pension Scheme

For employees choosing to participate, the Charity operates a defined contribution pension scheme

providing benefits additional to those from the State. The assets are held in a separately administered

scheme. The pension cost charge represents contributions payable by the company to the pension

scheme in respect of the year.

Funds

General funds are unrestricted funds which 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 notes to the financial

statements. 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 aim and use of

each restricted fund is set out in the notes to the financial statements.

Cash Flows and Liquid Resources

Cash flows comprise increases and decreases in cash. Cash includes cash in hand, deposits repayable on

demand and overdrafts. Deposits are repayable on demand if they are in practice available within 24 hours without penalty. Liquid resources comprise assets held as a readily disposable store of value.

2 DONATIONS RECEIVED

Unrestricted Restricted 2011 2010 £ £ £ £

Individuals 312,697 35,738 348,435 291,793 Trusts 174,131 13,294 187,425 158,560

Corporate donors 53,280 500 53,780 27,277 Groups 10,649 - 10,649 25,240

Local authorities - 46,803 46,803 62,773 Local associations - 42,183 42,183 45,197

______ ______ ______ ______ 550,757 138,518 689,275 610,840 ________ ________ ________ ________

3 GRANTS RECEIVABLE

Unrestricted Restricted 2011 2010

£ £ £ £

Welsh Assembly - 30,000 30,000 25,000

Big Lottery Fund - 165,306 165,306 -

Local Authorities - 43,038 43,038 45,326

Trusts - 96,575 96,575 42,660 Central Government - - - 200,000

Financial Assistance Fund - 150,000 150,000 - Dept of Health - 16,783 16,783 - Other charities - 31,840 31,840 12,222

________ ________ ________ ________

- 533,542 533,542 325,208

________ ________ ________ ________

23



4 NET INCOME FROM TRADING ACTIVITIES OF SUBSIDIARY UNDERTAKING

The Charity has one wholly active trading subsidiary undertaking. ASBAH (Trading) Limited sells

advertising space in various publications and balloons for balloon races. The company gift aids virtually all its taxable profits to the Association for Spina Bifida and Hydrocephalus. A summary of its trading results

is shown below. Audited accounts have been filed with the Registrar of Companies.

Profit and Loss Account ASBAH (Trading) Ltd

2011 2010

£ £ Turnover 1,019,595 1,106,904

Cost of sales (316,823) (362,439)

______ ______

Gross profit 702,772 744,465

Administration (180,572) (216,734) Amount payable by gift aid (525,000) (530,000)

______ ______

Net loss before tax (2,800) (2,269) Tax on profit - -

______ ______

Retained in subsidiaries (2,800) (2,269) ________ ________

Balance Sheet

Fixed assets 8,358 15,421

Current assets 713,617 790,158 Current liabilities (703,923) (784,727)

________ ________

Total net assets 18,052 20,852 ________ ________

Aggregate share capital and reserves 18,052 20,852

________ ________

24



5 ANALYSIS OF TOTAL RESOURCES EXPENDED

Staff Costs Premises Other 2011 2010 Charitable expenditure £ £ £ £ £

Support to those with Spina Bifida/ Hydrocephalus and their families 1,466,310 31,344 343,317 1,840,971 1,674,426

Grants made - - 22,174 22,174 20,027

Services to local associations 51,959 - 1 51,960 52,014 Public information 26,228 - 12,787 39,015 36,856

Governance costs 23,044 - 7,979 31,023 34,538 ________ ________ ________ ________ ________

1,567,541 31,344 386,258 1,985,143 1,817,861

Cost of generating funds Trading costs of subsidiaries 323,800 40,147 133,448 497,395 579,173

Shops 87,628 74,642 34,330 196,600 193,586 Fundraising 256,778 16,348 51,278 324,404 296,845

Marketing and publicity 42,995 2,500 10,767 56,262 33,773 ________ ________ ________ ________ ________

2,278,742 164,981 616,081 3,059,804 2,921,238

________ ________ ________ ________ ________ Analysis of fundraising

Direct staff 251,518 219,099 Office accommodation 16,348 17,281

Future development 2,156 9,905 Senior management staff time 5,260 2,672

Voluntary donation costs 41,054 37,843 Other costs 8,068 10,045

________ ________

324,404 296,845 ________ ________

Resources expended include: Auditors remuneration for the Group:

Audit services 11,527 11,511

Taxation services 500 500 Operating lease rentals – land and buildings 72,075 63,696

Depreciation 37,796 48,874 Bank loan interest 15,512 16,543

________ ________

137,410 141,124 ________ ________

6 PARTICULARS OF STAFF FOR THE CHARITY

Wages and salaries 1,682,193 1,471,849

Redundancy costs 87,214 - Social security costs 148,538 135,654

Pension contributions 36,997 47,024 ________ ________

Total staff costs 1,954,942 1,654,527

________ ________

25



6 PARTICULARS OF STAFF FOR THE CHARITY (continued)

Average number of full-time equivalent employed in the year No. No.

Services 38 38 Fundraising and publicity 11 9

Shops 5 6 Administration 6 5

______ ______ Total full-time equivalent staff 60 58

______ ______

One employee earned more than £60,000 during the year (2010 - 1).

Redundancy costs included relate to the restructuring of the Charity undertaken in the year.

The accounts include a charge of £2,023 (2010 - £2,023) to provide the directors with indemnity insurance.

No remuneration has been received by any member of the Board of Trustees or any other Committee in either year.

In respect of attending meetings of committees, travel expenses amounting to £5,215 have been

reimbursed to 15 members of the Board of Trustees (2010 - £5,912 to 14 members) and £2,627 to 11 members of other committees (2010 – £2,703 to 16 members).

7 TANGIBLE FIXED ASSETS

Freehold Fixtures, Land Fittings &

& Buildings Equipment Total Group £ £ £

Cost

1 April 2010 1,487,404 271,304 1,758,708

Additions - 2,980 2,980

______ ______ ______

31 March 2011 1,487,404 274,284 1,761,688

________ ________ ________

Depreciation 1 April 2010 136,706 242,902 379,608

Charge for the year 25,748 12,048 37,796

______ ______ ______

31 March 2011 162,454 254,950 417,404

________ ________ ________

Net book amounts 31 March 2011 1,324,950 19,334 1,344,284 ________ ________ ________

Net book amounts 31 March 2010 1,350,698 28,402 1,379,100

________ ________ ________

26



7 TANGIBLE FIXED ASSETS (continued)

Freehold Fixtures,

Land Fittings &

& Buildings Equipment Total Charity £ £ £

Cost

1 April 2010 1,487,404 155,685 1,643,089 Additions - 2,980 2,980

______ ______ ______

31 March 2011 1,487,404 158,665 1,646,069

______ ______ ______ Depreciation 1 April 2010 136,706 142,702 279,408

Charge for the year 25,748 4,987 30,735

______ ______ ______ 31 March 2011 162,454 147,689 310,143

______ ______ ______

Net book amounts 31 March 2011 1,324,950 10,976 1,335,926

________ ________ ________

Net book amounts 31 March 2010 1,350,698 12,983 1,363,681 ________ ________ ________

The freehold land and buildings are subject to a first legal charge.

8 FIXED ASSET INVESTMENTS 2011 2010

Group £ £

Market value at 31 March 2010 476,252 453,186

Add: Acquisitions at cost 1,318 2,030

Less: Disposals at opening book value (100,000) (33,308)

Profit/(loss) on disposals 4,209 - Net gain/(loss) on revaluation at 31 March 2011 9,480 59,149

Increase/(decrease) in deposits with banks - (4,805)

______ ______

Market value at 31 March 2011 391,259 476,252

________ ________

Historical cost as at 31 March 2011 324,245 352,461 ________ ________

27

28



8 FIXED ASSET INVESTMENTS (continued)

Investments comprise: Market value Cost 2011 2010

£ £ £ Charishare Common Investment Fund 30,055 103,215 193,276

UK Unit Trusts 89,402 100,489 96,871

UK Quoted shares 40,687 23,454 22,004 ________ ________ ________

160,144 227,158 312,151

Deposits with banks 164,101 164,101 164,101 ________ ________ ________

324,245 391,259 476,252

________ ________ ________

Charity In addition to the above ASBAH holds the following UK unquoted shares:

2011 2010 £ £

Cost of investment in subsidiary 3 3 ________ ________

The cost of investment in subsidiary represents the cost of shares in the subsidiary undertaking ASBAH

(Trading) Limited, which is wholly owned and registered in England. The principal activity of the company is to generate funds for ASBAH.

9 DEBTORS

Group Charity 2011 2010 2011 2010

£ £ £ £ Trade debtors 208,218 246,410 10,226 10,145

Gift Aid receivable - - 525,000 530,000 Other debtors 19,384 22,278 19,384 19,638

Accrued income 8,178 7,927 8,178 7,927 Prepayments 35,917 28,364 33,469 25,988

________ ________ ________ ________

Total Debtors 271,697 304,979 596,257 593,698

______ ______ ______ ______

10 CREDITORS – amounts falling due within one year

Group Charity

2011 2010 2011 2010

£ £ £ £ Trade creditors 167,742 259,556 18,395 33,064 Amount due to subsidiary - - 495,935 523,265

Accruals 95,756 51,504 79,927 34,354 Other creditors 1,887 795 1,887 795

Other taxation and social security 51,781 48,299 38,030 37,212 Bank loan 60,689 96,206 60,689 96,206

________ ________ ________ ________

Total Creditors 377,855 456,360 694,863 724,896

________ ________ ________ _________

29



10 CREDITORS – amounts falling due within one year (continued)

Group trade creditors contains income which has been deferred within the accounts of ASBAH (Trading)

Limited. An amount of £121,430 (2010 - £206,250) has been deferred in relation to balloon race income and £18,990 (2010 - £8,370) in relation to advertising income. Balloon race income is recognised after the

event has been held and advertising income is recognised when the advertising has been produced.

11 CREDITORS – due after more than one year

Group Charity 2011 2010 2011 2010

£ £ £ £

Bank loan 949,259 964,839 949,249 964,839 ________ ________ ________ ________

The bank loan is secured by a first legal charge over the freehold property known as Asbah House, 42

Park Road, Peterborough. The loan is repayable over 25 years with interest being charged at 1% over

the bank’s base rate. The balance is repayable as follows:

£ Between one and two years 60,689

Between two and five years 182,067 After more than five years 706,503

________ 949,259 ________

12 RESTRICTED FUNDS

Group and Charity

The income funds of the Charity include restricted funds comprising the following unexpended balances of donations and grants held on trust to be applied for specific purposes:

Balance Balance

31 March Incoming Expenditure 31 March 2010 Resources & Transfers 2011

£ £ £ £ Provision of Specific Services 241,654 523,226 (613,779) 151,101

Central Government Fund 99,392 - (99,392) - Financial Assistance Fund 150,000 (150,000) -

Research Fellowship Fund 73,294 - - 73,294 Bursary Fund 90,808 - - 90,808

Carolyn Smith Fund 299 250 (170) 379 Research Reserve 38,289 42,969 (8,208) 73,050

________ ________ ________ ________

543,736 716,445 (871,549) 388,632

________ ________ ________ ________

Provision of Specific Services comprises donations received, which were unexpended at the year-end.

The Central Government Fund was created in October 2009 from a grant made by the Community Development Fund to cover the cost of employing 9 key advisors for a year.

The Research Fellowship Fund was created in 1973 by a special appeal and transfer of funds from the

Spina Bifida Trust. A Fellowship is awarded when interest on the capital has accumulated in the restricted fund to what is considered at the time to be a satisfactory level. The fund has invested £73,294 with the

Co-operative Bank.

30



12 RESTRICTED FUNDS (continued)

The Bursary Fund was established in 1988 to help fund those with spina bifida and/or hydrocephalus with further education. The fund is represented by deposits on the money market. Awards are made from

interest received into the restricted fund.

The Carolyn Smith Fund received donations and interest for the payment of grants in respect of housing

needs.

The Research Reserve comprises donations for general research. Grants are made from this reserve to relevant applicants.

13 DESIGNATED FUNDS

Group and Charity The income funds of the Charity include the following designated funds, which have been set aside out of

unrestricted funds by the directors for specific purposes:

Balance Incoming Expenditure Balance 31 March Resources & Transfers 31 March

2010 2011 £ £ £ £

Research Reserve 30,991 - (30,991) - Database Development Fund (839) - 839 -

________ ________ ________ ________

30,152 - (30,152) - ________ ________ ________ ________

14 ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS

Unrestricted Restricted Total

Funds Funds Funds £ £ £

Fund balances at 31 March 2011 are represented by: Tangible fixed assets 1,344,284 - 1,344,284

Investments 227,158 164,101 391,259 Current assets 590,671 224,531 815,202

Current liabilities (377,855) - (377,855) Debtors over one year 2,317 - 2,317

Creditors over one year (949,259) - (949,259) ________ ________ ________

Total Net Assets 837,316 388,632 1,225,948

________ ________ ________

Unrealised gains included above on investment assets:

Reconciliation of movements in unrealised gains on investment assets

Unrealised gains at 31 March 2010 123,791 - 123,791 Add: loss arising on revaluation (56,777) - (56,777)

________ ________ ________

Unrealised gains at 31 March 2011 67,014 - 67,014 ________ ________ ________

31



15 LEASING COMMITMENTS

The Association is committed to the following payments within the next year under operating leases (rentals on shops and offices) expiring:

2011 2010 £ £

Within one year 25,000 15,950 Between two and five years 32,960 56,500

Over five years 15,000 - ________ ________

72,960 72,450

________ ________

16 CONTINGENT LIABILITIES

ASBAH has been notified by The Pensions Trust of the estimated employer debt on withdrawal from the plan based on the financial position of the Plan as at 30 September 2010. As of this date the estimated

employer debt for ASBAH was £920,450 (30 September 2009 - £948,408).

17 LEGACIES

At the year-end the Charity had been notified of material legacies amounting to approximately £200,000

(2010 - £113,000) which have not been included in the accounts.

18 RELATED PARTY RELATIONSHIPS AND TRANSACTIONS

The charity has taken advantage of the exemption available in FRS 8 “Related party disclosures” whereby

it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary

undertaking of the group.

There are no other related party transactions during the current or previous years.

32

Thank you

On behalf of the thousands of individuals with hydrocephalus and / or spina bifida and their families who we are

able to help each year through your continuing support.

Trusts and Foundations

Bernhard Heuberger Charitable Trust

Children In Need The Clare Milne Trust

Constance Green Foundation Eveson Charitable Trust

Freddy Wakeham Charitable Trust

Freemasons’ Grand Charity Homelands Charitable Trust T19

John & Mildred Law Fund Jones 1986 Charitable Trust

Kenneth Appel Charitable Trust Langdale Trust

Michael Shanly Charitable Trust Mothercare Group Foundation

Simon Gibson Charitable Trust Stour Charitable Trust

Companies and Organisations

Astra Tech Bayer

Big Lottery Fund Codman

Coloplast Hollister

Marmite

Local Associations Donations and Adviser Contributions

We would like to thank all those Local Associations who have generously sent us a donation in this year and those

Local Associations who have an ongoing arrangement regarding adviser funding :-

Greenwich North Wales

Surrey Sussex

Government Bodies, Local Authorities and Health Trusts

We would wish to thank all those Local Authorities and Health Trusts who provide funding for the employment of

advisers:

Department of Health Derby City Council

Hertfordshire County Council Northern Health & Social Care Trust (Northern Ireland)

Northamptonshire County Council Southern Health & Social Care Trust (Northern Ireland)

Suffolk County Council Wales Council for Voluntary Action

Welsh Assembly Government

33

National Office:

ASBAH 42, Park Road Peterborough PE1 2UQ Helpline 0845 450 7755

Tel 01733 555988 Fax 01733 555985

Email [email protected] www.asbah.org

Regional Offices located in:

England (Eastern)

42, Park Road, Peterborough PE1 2UQ Tel 01733 421309

Fax 01733 555985

England (North & West)

64, Bagley Lane, Farsley, Leeds LS28 5LY Tel 0113 2556767

Fax 0113 2363747

England (London & South) 209, Crescent Road, New Barnet, Herts. EN4 8SB

Tel 020 84419967 Fax 020 84406168

Northern Ireland

ASBAH PO Box 132 Cushendall

BT44 0WA Tel 07762 574861

Wales

ASBAH Cymru, PO Box 325,

Bridgend CF31 9LD

Tel 01656 864102

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