THE CANDLELIGHTERS TRUST Charity Registration No. 1045077 Company Reglstratlon No. 3020552 TRUSTEES. REPORT AND FINANCIAL STATEMENTS For the year ended 28 February 2025 C4Adldi8k+ws Supporting tho4families of children with cancer THE CANDLELIGHTERS TRUST Annual report and financial Statements for the year ended 28 February 2025 Contents Page: Legal and administrative information Report of the Trustees 16 Statement of Trustees, responsibilities 17 Report of the independent auditors 21 Statement of financial activities (incorporating statutory income & expenditure account) 22 Balance sheet 23 Cash flow statement 25 Notes to the financial statements THE CANDLELIGHTERS TRUST Legal and admlnistrative information Patron Lady Emma Ingilby Clinical lincluding Medical) Trustees C De Biase (resigned 07/0312025} Dr M Elliott J Goodden Dr E M Richards (Vice Chairl J White Dr S Wilkins Lay Trustee5 G Felgate K Hardcastle (Chairl D Lawson (appointed 09110120241 D Mayman (Vice Chairl S Patterson R Randhawa Flnance and Audlt Commlttee K Hardcastle D Mayman (Chair of Finance and Audit Committee) Dr E M Richards Research Commlttee C De Biase (resigned 07103120251 Dr M Elliott (Chair of Research Committee) J Goodden K Hardcastle Nomlnatlons and Remuneratlon Commlttee C De Biase (resigned 07/03/20251 K Hardcastle S Patterson (Chair of Nominations and Remuneration Committee) Dr E M Richards Family Support Commlttee G Felgate D Lawson (as a non-trustee before being appointed as a Trustee 09110120241 J White Dr S Wilkins K Baldwin Inon-trusteel S Redman {Chair of Family Support Committee) {non-trusteel N Shaw Inon-trusteel H Vaughan {non-trusteel THE CANDLELIGHTERS TRUST Legal and administrative Informatlon (continued) Key management personnel/Senlor Management Team: E Wragg Chlef Executlve Officer L Fletcher Chief Operating Officer and Company Secretary N Kisby Head of Famlly Support L Pomeroy Chief Financial Officer T Robertshaw Head of Fundralslng C Gill Head of Engagement Head office: 8 Woodhouse Square Leeds, LS3 IAD Independent auditors: Thomas Coombs Limited Chartered Accountants and Registered Auditors 3365 The Pentagon Century Way Thorpe Park Leeds LS15 8ZB Bankers: Virgin Money 94-96 Briggate Leeds, LSI 6NP Solicltors: Wrigleys 19 Cookridge Street Leeds, LS2 3AG Investment Managers: Brewin Dolphin Limited 10 Wellington Place Leeds, LSI 4AN THE CANDLELIGHTERS TRUST Report of the Trustees for the year ended 28 February 2025 The Trustees present their report and audited accounts for the year ended 28 February 2025. The financlal statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the Charitvs governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice I"SORP"l applicable to tharities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019. OBJEcfivES AND AcfiviTIES FOR PUBLIC BENEFrr Objectives The Chariws Objects are as follows". l. The alleviation of the sufferin& and the promotion of the relief, care, well-bein& and rehabilitation, of children and young people afflicted with any form of malignant disease or a non-malignant but life threatening haematological disorder or central nervous system disorder, in particular Ibut not exclusively) those who are or who have been under the care of, or otherwise supported by, hospitals in Yorkshire; 2. The preservation and protection of the good physical and mental health and well-being of individuals formerly under the care of, or otherwise sUPPOrted by. hospitals in Yorkshire, particularlythose individuals experiencing serious medical problems associated with their original disease or disorder or its treatment: 3. The protertion and preservation of good physical and mental health and wellbein8 amongst families and carers of, or other people providing support to, individuals falling under objects l or 2 and the provision of practical and other support in their role of carin8 for such individuals; and 4. The provislon of support for such activities as may be legally charitable in the work of hospitals in Yorkshire including the provision of financial assistance for the acquisition and maintenance of equipment for use within hospita15 in Yorkshire or in connection with the work of hospitals in Yorkshire and the provision of support, in whatever ways the Trustees think fit, for research, education and training within or connected with hospitals in Yorkshire and the dissemination of the results of such research. In pursuing the Charitys Objects the Charity provides support to families affected by childhood cancer in Yorkshire and anyone under the care of the Children and Teenage Oncology and Haematology department at Leeds Teaching Hospital Trust. Further information on our activities is outlined below. In accordance with their duties pursuant to Section 4 of the Charities Act 2011, theTrustees have considered the Charitvs objects and activities in light of the Charity Commission's general guidance on public benefit "Charities and Public Benefiy,. Activities and Performance Each year over 150 children in Yorkshire are diagnosed with cancer. When a child is diagnosed. lives are turned upside down instantly: not just for the child but the entire family. Getting well again can be a long and challenging journey. emotionally, physically, and financially. Supporting children and families throughout that journey is why our charity, Candlelighters, was formed nearly 50 years ago. Our mission is to bring light to every family affected by childhood cancer in Yorkshire by providing emotional, practical and financial support, as well as bringing hope, by investing in vital research to improve the outcomes and lives of children with cancer. Candlelighters. first priority is always the welfare of the children being treated at the Children and Teenage Oncology and Haematology department and their families. Whilst the outlook for children with cancer continues to improve, the distress caused to families should not be underestimated. In 2023 we undertook a year-lon8 research project to further understand the challenges faced by families who have a child diagnosed with cancer and how best we can support their needs in the future. This highlighted and reinforced the many and significant emotional, practical and financial challenges families face. The below outlines the services Candlelighter5 provides to support families and we constantly review these services to make sure they are adapted as the needs of families evolve. THE CANDLEUGHTERS TRUST Report of the Trustees for the year ended 28 February 2025 (contlnued) OBJEcllvES AND AcfiviTIES FOR PUBLIC BENEFIT (contlnued) Candlell8hters The Square The Square is our family support centre that supports any member of a family affected by childhood cancer. The centre is a five- minute walk from the Children's Hospital and can provide daily support for a family whilst on the ward, visiting clinic appointments, and for additional support at the familTrls convenience. The variety of support has evolved from family feedback over the past 10 years. The centre is open Monday to Friday from 10.00am to 4.00pm and later on a Thursday evening. Also. during 2024 we piloted The Square being open on a Saturday in response to family feedback. It wa5 $0 successful we have made Saturday opening permanent between 12.(K)pm and 4.30pm. The type of services offered at The Square include: Wellbeing therapies including a variety of massages, reflexology, and energy balancing treatments Talking therapy and mindfulness sessions for both children and adults A quiet space for relaxation and refreshments Grandparents support groups Sibling support groups Support groups for parents Patient support groups Family events The team of support workers @ The Square provide flexible professional support. Providing tare closer to home Condlelighters In Your Communlty The Family Support Team provide a range of support closer to home, whether that be through helping the family to access Candlelighters se￿iceS or more appropriate services that are available in the area that the family live. For patients who are palliative the Family Supportteam also provide and co-ordinate precious wishes and memories for patients and families. Regional Outreach Play Specialists Candlelighters funds two outreach play specialists. The role supports families by providing therapeutic play within the child's own home including support to siblings- addressing anxieties where the child feels safe and putting action plans together. The play specialists liaise with the hospital play team to ensure preparation work at home is continued in hospital and action plan5 followed to provide continuity of care and increase the child and familvs confidence in hospital, providing a less frightening experience for the child and family. The role has continued to develop over the years and now provides a huge support to children and their families who are receiving palliative care and to those who have sadly been bereaved. Bolus Chemotherapy Specialist During the financial year Candlelighters has continued providing funding to enable a pilot initiative for a Clinical Nurse Specialist to perform a bolus chemotherapy service which enables chemotherapy to be delivered at home to patients. This service was provided by the NHS during COVID-19 and the Charitws funding has allowed it to continue and expand with the hope it becomes part of the core NHS service in the future. THE CANDLELIGHTERS TRUST Report of the Trustees for the year ended 28 February 2025 (contlnued) OBJEcfivES AND AcnviTIES FOR PUBUC BENEFIT (continued) Support In hospftal Fomlly Support Workers Candlelighters have a team of Family Support Workers who are at the hospital six days a week to make this difficult time a little easier for families. They work incredibly hard to make the wards and tlini¢ feel less clinical and more enjoyable, bringing some comfort and fun to the hospital environment. From 7:30am to 7:30pm the team are around to support families on a one-to-one basis, provide fun group activities, sit with children to allow parents a break and to help families access vital support through Candlelighters. Supportfor Teenagers Candlelighters supports all families with children diagnosed before their 19th birthday. To enhance the 5UPPOrt to teenagers, in 2022 the Charity approved the application to fund a Youth Artivity Co-ordinator to be based solely on the teenage ward (Ward 331. After challenges faced by this role being recruited by the NHS, we brought the role in-house and successfully employed someone to the role in 2024. They have since been providing peer support activities and supporting patients on a one-to-one basisto promote their continued emotional and psychological development through treatment. Given the role is now employed and not a grant, the initial funding commitment of £67,000 was released in the financial year and the cost is part of salary costs going forward. Since the financial year, given the positive impact this role has had on young people staying in hospital, we have decided to make this role permanent rather than a fixed term. Champ's Pantry Charnp's Pantry was introduced in 2024 in response to our research project around the challenges families face. The pantry provides free, nutritious food to families for parents and carers who are staying in hospital with their child. This eases the financial strain and challenges accessing necessary nutrition that often comes with long hospital stays. This has since become an award-winning service winning a national award at The Charity Governance Awards within 'The Challenge to Change, category. Povilion The Candlelighters Pavilion is a warm and welcoming space located just off the children's cancer ward designed to provide comfort and support for both patients and their families. Unlike the clinical environment of the hospital, the Pavilion offers a peaceful setting where families can take a break, share a meal, or simply relax together during what is often an overwhelming and stressful time. Hospital equipment and envlmnment The Charity routinely provides funding for the replacement of play, technical equipment and any keywhite goods for the wards, outpatient's clinic, paediatric radiotherapy department and bone marrow unit. In 2023, Candlelighters started a programme of works to improve the hospital environment. With any potential new Children's Hospital now looking a long time into the future, this Investment has continued and most recently we have fully updated the décor in the day unit and have got designs finalised for the radiotherapy department with work to commence in the coming months. DlnnerSupeThlsor Many patients undergoin8 treatment for cancer experience problems with eating during treatment. The problem is worse when the child has to spend long periods in hospital as hospital food is served at set times and by the time It arrives at ward level is unlikely to tempt a child with a failing appetite. Candlelighters fund one full-time Dinner Supervisor who provides nutritious snacks on demand for the patients throughout the day. THE CANDLELIGHTERS TRUST Report of the Trustees for the year ended 28 February 2025 (continued) OBJECTIVES AND AcfiviTIES FOR PUBLIC BENEFIT (contlnued) Support in hospital (continued) Ployleaders During 2024 Candlelighters was pleased to learn the NHS recogni5ed nationally the need for a 7-day-a-week play service for children in hospital. After funding the PlayTeam for over 25 years on the haematology and oncology wards. the Charity hasseen how important this is for children so we are thrilled that children in other wards will also now benefit from better play support. Leeds Children'5 H05Pital secured funding to enable this level of play provision to be rolled out across all wards. Accordingly. towardsthe end of 2024, ourfundingwas no longer needed to ensurethis provision is available in the haematologyand oncologry department. This ha5 enabled us to focus ourfunding on further enhancing our Family support provision in the hospital and play support for children at home. We continue to provide funding for materials for the Play Team to provide distrartion activities for patients during the long hour5 spent on the ward and in the day unit. Flnanclal support Financial difficulties can add to the trauma of diagnosis and treatment. At a time when income is often reduced, families face additional expenses such as the cost of food when livin8 at the hospital for long periods of time, travel and increased burden on the family budget. Candlelighters provide three monthly allowances for families upon diagnosis or relapse. There is also potential access to a Family Assistance Grant to help families in times of financial need any time during treatment. In addition, Candlelighters also provides Christma5 grants and compassionate grants. Other support Condlellghters Cottage (Brandon Cottage) Our Cottage officially opened in November 2018 to families. We know how important it is for families to be together and our Cottage provides a comfortable and homely place for them to stayto enable them to be near to the wards when their child is an inpatient at Leeds Children's Hospital. The Cottage provides four ensuite bedrooms in addition to Eckersley House which is part funded by Candlelighters as below. Eckersley House Eckersley House, adjacent to Clarendon Win& provides accommodation for families from outside the Leeds area whose child is being treated at the Hospital. The house is run by the Sick Children's Trust. In recognition of the use made of the house by paediatric oncolobry parents, Candlelighters make a substantial contribution each year towards the running costs. Holiday breaks Every family who has 3 child diagnosed with cancer is able to take a holiday provided by Candlelighters at various holiday resort locations in the UK. The holiday provides a crucial break away from the routine of treatment and hospital visits secure in the knowledge that, if necessary, they are within easy travelling distance of the hospital. We also provide financial support to families to be able to pay for travel or other expenses for their holiday. The holiday5 are also offered to those familie5 whose child has sadly passed during the year and the family need a break to get away. Support group5 In response to requests from families for emotional support, Candlelighters provide funding for a variety of support groups and social activities for patients, siblings, parents and grandparents away from the hospital environment. THE CANDLELIGHTERS TRUST Report of the Trustees for the year ended 28 February 2025 (continued) OBJECTIVES AND ACTIVITIES FOR PUBLIC BENEFrr (continued) Research 8rants The main activity during the year in relation to research grants was as follows: The Charity entered its second year of funding a new leading research programme in Supportive Care in order to improve the quality of life for children affected by childhood cancer. Supportive Care include5 preventing side effects of treatment, managing pain and reducing infection. It is the care that gives children as full a life as possible. A major research programme in this area has been a strategic priority for Candlelighters for many years and it was a key moment for the Charity when the'candlelighters Supportive Care Research Centre" launched in November 2023. It is intended the programme will be funded for five years and total funding to be £1 million. Last financial year, £555,000 was committed which relates to years I to 3 of the programme. Future years are subject to the progress of the Centre and 31$0 the financial position of the Charity including the success in raising funds for the programme in order to sufficiently increase reserves. The long running funding of the Yorkshire Specialist Register of Cancer in Children and Young People continued. The Register is a research database which is used to support research into the effectiveness of cancer treatments and any complications which emerge several years after therapy has been completed. The Candlelighters Fellowship programme recently came to a finish and the most recent Fellows successfully completed their PhD. The programme was created to utilise the research expertise and facilities of the University of Leeds and Leeds Teaching Hospitals NHS Trust to SUPPOrt the research training of academic paediatric oncologists and haematologists, and in order to ensure doctors with relevant expertise are based in Yorkshire to look after children affected by cancer. During the programme, Candlelighters has supported nine Fellows in total. THE CANDLEUGHTERS TRUST Report of the Trustees for the year ended 28 February 2025 (continued) FINANCIAL REVIEW The financial statements are presented in the standard format required by the Charity SORP and cover the activities of the Charity and its dormant subsidiary Candlelighters Trading Limited. The Statement of Financial Activities I'SOFA") shows the gross income from all sources and the split of activity between restricted and unrestricted funds. Income from the branches is shown gross and the fundraising costs are allocated to the fund for which the money was raised. Income The Charity experienced improved but still challenging conditions during the financial year. Like many charities, we faced a difficult fundraising environment as the cost of living crisis continued to put a significant squeeze on the finances of supporters. However. the effort we have put into fundraising initiatives and to diversify income is yielding results and this was a key driver behind total income in the financial year of £1,903,375 compared to £1,766,173 in the previou5 year. Most notably Major Donor income was £179,525 compared to £69,305 in the previous financial year. The Major Donor initiative was launched a few year5 ago and through thls initiativewe werefortunate enough to receive one donation of£lOO,000 in 2024. Trust and foundation income of £220,999 was £73,164 higher than the previous year. The increase reflects a focus on trying to obtain trust funding for the major commitment to the Candlelighters Supportive Care Research Centre. We had some success from those applications including one donation of £82,739 but in total this is still considerably below our investment in the Centre and we are still significantly short of the desired funds for the programme. Community income in the financial year was slightly above the prior year and totalled £687,95112024.' £645,735). Similarly, Individual Giving income of £95,943 was slightly above the prior year amount of £92,432. We are grateful to our branch supporters who were able to undertake more fundraising artivities in the year having been constrained by COVID-19 previously and they raised £28,312 income12024'. £3,279). Corporate income of £540,103 wa5 in line with budgeted expectations but £85,949 lower than a very strong previous year. Legacy income continued to be slightly lower than average and was £70,796 {2024: £62,340). Investment income was lower than prior year as we moved to equities with a greater investment gain focus than those that pay dividends. It also reflected lower investments held as we have had to drawdown to meet commitments and manage recent in- year deficits. The Charity would like to thank all our supporters for their immense effort during difficult times to raise money on the Charitys behalf. Expenditure Like many or8anisations the Charity continues to face significant cost pressure from inflation which is impacting all of the cost base. This is compounded by a greater demand on ourservices as families need us more than ever and have less support available elsewhere. The Charity continually strives to maintain and enhance services to families but simply providing the same level of support costs more. Wage inflation is Included in this challenge which has meant we have had to increase wage amounts to some degree In order to retain and attract the necessary professionalism and skills for the Charity to best serve the families affected by childhood cancer. We regularly benchmark the salary of all the Charitls roles and this benchmarking is specific to the charitable sector rather than an index that includes other sectors where evidence suggests wage inflation is typically higher. In real terms, our income Is struggling to keep pace and it is this inflation which is putting pressure on income from supporters as they have less funds available for charitable giving. THE CANDLELIGHTERS TRUST Report of the Trustees for the year ended 28 February 20251contlnued) FINANCIAL REVIEW (contlnued) Expenditure (continued) Expenditure on charitable activities for the year was £1.507.204. This is £578,723 lower than prior year primarily due to grants awarded. In the prior year the net research and non-research grants awarded totalled £624,500 which is £495,483 higher than the £129.017 this year. This is because last year included the major initial commitment to the Candlelighters Supportive Care Research Centre of £554,734 relating to years I to 3 of the programme. The total funding for the centre is expected to be £1 million over five years with future years subject to the progress and the financial position of the Charity including securing funds for the projert. Other significant variances to the cost of charitable artivities to prior year include expenditure on family holidays reducing by £123,867 as last year included a significant amount of catch up of holidays from those unable to take them due to the risk and restrictions from COVID-19. This year's figure of £59,330 is more reflective of the annual cost going forward. Offsetting this is a £68,0¢)O cost for a commitment to fund cardiac function equipment for the paediatric oncology department. This was possible due to specific funding received from a corporate supporter for the machines which are due to be purchased in the 2025126 financial year. The cost of raising funds of £585.250 was £42,214 higher than prior year. This increase is largely due to IT and website costs as during the financial year, the Charity incurred the majority of costs for two major technology projects. Firstly, a new CRM which is a database and system to manage donor and families and, secondly, a new website. Both will allow for better engagement with 5upporter5 and families as well as making the Charity more effective and efficient going forward. There was also more branch fundraising costs as the branches undertook more fundraising artivities. Collectively total expenditure for the financial year was £2,092,454. This Is £536,509 lower than the prior year figure for the reasons outlined above. The Charity continually reviews the cost base and support we provide to families to ensure every penny of Charity resources is used to support families where they need us most and to keep administrative costs to a minimum to ensure efficient use of resources. Investment policy and performance The Chariws investments are held in a mixture of equities, bonds, pooled funds and bank deposit balances. RBC Brewin Dolphin arethecharity's appointed Investment Managerswith an investment mandate of Income and Capital Growth Return, moderate investment risk" and from an ethical perspertive there will be no dirert investment in tobacco. Given the importance of the marketvalue of investments on the rese￿eS of the Charity. the Trustees continueto closely monitor the performance of the portfolio. The Charity has two investment fund5. Firstly. the Working Capital Portfolio which has a low-risk investment profile with a short to medium term investment horizon as cash flow forecasts show that the Charity may need to access these funds in this timeframe in order to pursue the Charitws objectives. As at 28 February 2025 the Working Capital Portfolio had a market value of £45,586. The portfolio produced an annual gross income of £2.047. which is equivalent to a gFOSS yield of 4.48%. Over the period l March 2024 to 28 February 2025 the Working Capital Portfolio made a total return of +5.73%. This compares to a total return in the market benchmark {MSCI WMA Conservative Index) of +7.51%. Secondly there is the General Trust PortFolio which has a medium-risk investmènt profile with a long-term investment horizon and at 28 February 2025 had a market value of £2,452,039. Whilst the intention of the fund is to hold for the medium to long term, the assets are highly liquid and include an element of cash. The portfolio produced an annual gross income of £66,352 which is equivalent to a gross yield of 2.71%. Over the period l March 2024 to 28 February 2025 the General Trust PortFolio made a total return of +7.56%. This compares to a total return in the market benchmark IMSCI WMA Income Index) of +9.74%. Over this period the FTSE ALL Share Index recorded a total return of +13.28% and the Ft Government Securities Index made a total return of +1.30%. THE CANDLELIGHTERS TRUST Report of the Trustees for the year ended 28 February 2025 (continued) FINANCIAL REVIEW (continued) Investment policy and performance (continued) Between March 2024 and February 2025, global stock markets experienced a mix of optimism, volatility, and shifting investor sentiment. The period began with a strong rally in spring and summer 2024, driven by enthusiasm around artificial intelligence. robust corporate earnings, and growing expectations of interest rate cuts by the U.S. Federal Reserve. There was a shift, however, at the beginning of 2025 from concerns over rising inflation, geopolitical tensions, and renewed tariff threats weighing on investor confidence. Despite this, we still experienced gains towards the end of the financial year and there was a net investment gain of £121,609 overall for the financial year. In line with expectation5, during the financial year the total investments held reduced as the Charity needed to use investment funds to meeting ongoing expenditure and settle grant liabilities including major research projects. The remaining current assets of the Charity of £244,635 as at 28 February 2025 were held mainly as bank deposit balances in order to provide sufficient liquidity for the short term settlement of liabilities includin8 grant liabilities. Reserves pollcv In order to ensure continuity of charitable expenditure and to fulfil the objectives of the Charity, a level of reserves must be maintained, especially due to ongoing commitments from which it is not possible to withdraw at short notice as well as being able to withstand potential drops in the market value of investment funds. This is particularly the case in the current environment as the impact of the cost of living crisis is making the fundraising environment very challenging and also putting pressure on the cost base of the Charity from inflation and demand for the Charity's services. Whilst the Charity is trying to move towards a more breakeven position, the strain on income and costs at a time we want to continue with our strategic objectives. and maintain and expand our support to families affected by childhood cancer means we may experience deficits in forthcoming years. In February 2025 the Trustees reaffirmed the reserves policy based on the level of free reserves. The policy is that free reserves should be no lower than £l.O million with a target level of between £1.5 million and £2.0 million. This excludes the fixed asset reserve, designated reserves and restricted reserves. The target level is deemed appropriate given the challenging environment and potential deficits for the next few years. If the environment improves and 5tabilises, the target level may be reduced in the future. Free reserves at the end of the financial year are £2,041,295 $0 slightly above the target range but this is largely due to investment gain5 towards the end of the financial year. Also certain hospital refurbishment and other project costs were deferred into the 202512026 financial year. Restrlcted and Unrestrlcted Funds Monies donated to the Research Fund are restricted solely for the purpose of funding research. Other restrirted funds are detailed in note 23 of the financial statements. io THE CANDLELIGHTERS TRUST Report of the Trustees for the year ended 28 February 2025 (continued) FUTURE PLANS 2025 marks the end of our 2020 to 2025 five year strategy. The Charity is incredibly proud of its achievements and its support to families affected by childhood cancer in the last five years despite so many challenges faced along the way including COVID-19 and a cost-of-living crisis. Some, but by no means all, of these achievements include: Continued investment in high quality research including the launch of the Candlelighters Supportive Care Research Centre Refurbishment of a number of the paediatric oncology and haematology areas of the hospital Constantly adapting our services to reflect a changing environment including challenges from COVID-19 or findings from our comprehensive review where we engaged with families to understand their needs The expansion of our Family Support Worker team to allow a six day a week service covering evenings Dedicated support to young people through the introduction of the Youth Activity Co-ordinator role Sharing of expertise and knowledge regionally and nationally to other charities and organisations Protecting and diversifying Income through investing in fundraising initiatives thereby reducing the impact of challenging environment on reserves and leaving us better placed for the future. Also in the last year alone we have: Completed two major technological projects. Our new CRM system and new website will enhance donor and supporter engagement and make the Charity more effective and efficient goin8 forward Made Saturday opening at The Square permanent in response to a hugely successful pilot Launched Champ's Pantry providing free nutritional food to families durlng treatment in response to a comprehensive family support review in 2023 about the financial strain of being in hospital and lack of access to healthy food. This has now won a national award. In 2025 there was also the fantastic news that Stephen Redman, the Chair of Candlelighters when the strategy was set, was awarded a much deserved MBE for his services to the families of children with cancer. Candlelighters never stands still, however, and we are always lookingforward to ensurewe can continue maximising oursUPPOrt to families affected by childhood cancer. In early 2025, the Board met for the annual Hearts and Minds Day to bring together previous discussions and finalise our next strategy. There was a clear view from this that we live in a world where the pace of change and uncertainty economically, politically and technologically has rarely been greater. Accordingly the Board felt it was more appropriate to set a three year strategy rather than five. True to one of the Candlelighters values, this allows the Charity to be more nimble and adapt to respond to any changes in the environment. In the new three yearstrategy, wewill remain laser focused on our area of expertise, supportin8 children and young people with cancer and their families. We have also responded to the evolution of Candlelighters services and the hospital environment and the range of patients under the care of the Children and Teenage Oncology and Haematology department highlighting challenges to providing consistent and equitable support for families staying on the wards. It is therefore a key aim to remove these inconsistencies and support more patients and families in an equitable way whilst they are inpatients in hospital, regardless of diagnosis, length of stay or number of stays. This will result in support of more patients and provide essential support services to every family whilst they are in hospital. Key objectives of our three year strategy are: Continue to deliver and enhance high quality family support services - this will include: Being laser focused on delivering lifelong support to families who have a child diagnosed with cancer by reinventing The Square and our interventions with families to promote better outcomes o Supporting even more in-patients and families by improving the hospital experience Continue our investment in research with a priority focus on the Candlelighters Supportive Care Research Centre To protect and grow baseline fundraising income - to do this we will continue to diversify income with a particular focus on leveraging and building our network and developing new partnerships across Yorkshire To build strong and sustainable foundations that ensure our charity's long-term success, trusted reputation, and appeal as a leading employer. This includes strengthening our governance and operational Infrastructure, investing in the right digital tools and systems, and fostering a culture that attracts, supports. and retains exceptional talent. Candlelighters remains committed and determined to providethe best possible support tofamilies affected by childhood cancer and will continue to respond and adapt accordingly to the challenges that may lie ahead in the coming year. THE CANDLELIGHTERS TRUST Report of the Trustees for the year ended 28 February 2025 (contlnued) STRUCTURE, GOVERNANCE AND MANAGEMENT The legal status of The Candlelighters Trust IS that of a Company Limited by Guarantee incorporated in 1995. As such its governing instrument is its Memorandum and Articles of Association, as amended over the years to allow for current governance arrangements. It is registered as a charity with the Charity Commission. Parents whose children are treated at the Children and Teenage Oncology and Haematology department can become members of the company. In the event of the company being wound up members are required to contribute an amount not exceeding £1. Trustees Details of the Trustees, who are also directors of the company for the purposes of company law, who have served during the year are listed on page l. None of the Trustees had any personal beneficial interest5 requiring disclosure, either in the Charity or in its wholly owned subsidiary company, Candlelighters Trading Limited, other than disclosed in note 21 of the financial statements. Appolntment of Trustees As set out in the Articles of Association the Board of Trustees must be made up of between nine and fifteen individual Trustees, all ofwhom shall become Members by virtue of their appointment as Trustees. No less than one third, but no more than half of the Trustees will be clinical lincluding medicall Trustees. The Articles of Association require that one third of the Trustees retire by rotation at each Annual General Meeting after which they may put themselves forward for reappointment. Tralnlng of Trustees Most Trustees are already familiar with the practical work of the Charity through their association with the Children and Teenage Oncology and Haematology department. New Trustees receive a briefing on their legal obligations under charity and company law,. the content of the Memorandum and Articles of Association; the Board of Trustees and the decision-making process- the history; business plan and recent financial performance of the Charity. In addition, Trustees are encouraged to attend appropriate internal and external training events to facilitate the undertaking of their role. Management The Trustees meet at least four times a year to decide the broad strategy and areas of activity including grant makin& administration, reserves and risk management. The day-to-day administration of grants and the processing and handling of applications prior to consideration by the relevant committee is delegated to the Senior Management Team. Key Management Personnel and Remuneratlon Policy The Board of Trustees together with the Senior Management Team las listed on page 2) are considered to be the key management personnel of the Charity. All Trustees give their time freely and no Trustee remuneration was paid during the year. The Chief Executive salary is determined by benchmarking across the Third Sector on an annual basis. Voluntary help and employees The Trustees wish to record their thanks for the hard work of the Charitvs employees and the sUPPOrt of the much-valued assistance of volunteers. 12 THE CANDLELIGHTERS TRUST Report of the Trustees for the year ended 28 February 2025 (continued) STRucfuRE, GOVERNANCE AND MANAGEMENT (contlnued) Risk management The Trustees regularly review the risk management strategy in accordance with the requirements of the SORP on Accounting and Reporting by Charities. The Charity has a risk management strategy which cornprise5 a formal review of the risk5 the Charity may face at least twice a year, however, the risk culture and the processes embedded in the Charity mean there is ongoing identification and monitoring of risks. There are also systems and procedures in place to minimise any potential impact on the Charity should those risks materialise. Internal control risks are minimised by policies and procedures covering a wide range of risks including the authorisation of all grants and financial transactions. The key risks to the Charity fall into the categories outlined below. Governance n5k.' Thi5 15 the risk that poor governance means the Board fails to deliver an effective strategy in line with the Charity's objectives. This may be due to the Board not having the right skills or commitment, or there is a onflict of interest or dominant influence. This risk is mitigated due to a rigorous Board selection, and ongoing appraisal and skills review programme. There is a conflicts of interest protocol where all potential conflicts are declared and recorded, and appropriate action taken if any perceived conflitts exist. The Charity has a three to five year strategic plan which is reviewed annually, and an annual business plan with quarterly performance reviewed by the Board. The Charity undertakes an external Governance Review on a periodic basis. The last one performed in 2022 showed strong levels of governance with any recommendations tracked and attioned by the Board. In 2024 the Charity was also a runner-up in the national CharityGovernanceAwardsfor the People in Governance category. Operotional risk.. This category of risk reflects potential issues arising from the day to day operational activities of the Charity. This includes any risks arising from the support the Charity provides to the families affected by childhood cancer, as well as risks to Charity staff and its assets, data and infrastructure. Policies and procedures are in place in order to reduce operational risk. All new staff and volunteers or relevant third parties go through an extensive induction training process including a review of the Charitvs policies and procedures. Existing staff receive refresher training and have to review policles and procedures on a periodic basis. All teams meet weekly to discuss any new or ongoing operational risks including specifically safeguarding risks, and any significant risks are escalated to the weekly Senior Management Team meeting. Any significant incidents are recorded on an 'Incident Report Form" which requires consideration of any lesson5 learnt and necessary actions with sign off from the Senior Management Team. Risks also from part of a monthly appraisal process. Financial risk.. The financial performance and position of the Charity is monitored regularly including monthly management information and is reviewed at each Trustee meeting. Liquidity risk is managed by regular monitoring of the cash held at bank and alternative funds available. An annual budget is prepared by the Senior Management Team and approved by the Board and if during the year the performance is expected to be significantly different from that budgeted. a reforecast exercise will be undertaken. Financial policies and pr0￿dureS. and controls are in place for core financial activities. A key element in the management of financial risk is the setting of a reserves policy and its periodic review by Trustees. Legal and compliance n5k.' Guidelines are issued to all staff and volunteers in order to comply with charity and local authority regulations and to minimise risk5 to health and safety. The Charity seeks external legal advice when required. External ri5k.' The Charity Can be Significantly imparted by external factors including political, economic, social, technological and environmental. The Senior Management Team and Board will regularly review external factors and are informed from communications and briefings from a number of sources including industry bodies, 5UPPOrters and beneficiaries. These fartors are taken into account in the annual business plan and strategic plan, as well as the reserves policy. Policies and procedures are also in place to deal with external factors that would impact more immediately such as business continuity and disaster recovery planning. 13 THE CANDLEUGHTERS TRUST Report of the Trustees for the year ended 28 February 2025 (conttnued) STRucfuRE, GOVERNANCE AND MANAGEMENT (continued) Grant makin8 poIIcy Research Grnnts The Charity funds research to improve the lives and outcomes for children and adolescents diagnosed with cancer. All grants are reviewed by the Board with Board approval required for any grant in excess of £20,CQO, or £2,0(J) if not already included in the budget. Any research grants in excess of £50.000 must be reviewed by external scientific experts before being submitted for approval by the Board of Trustees and periodically thereafter. In 2021 Candlelighter5 entered into a partnership agreement with an AMRC registered charity, Children's Cancer Leukaemia Group ICCLGI, to allow for independent expert support with the initial review and ongoing monitoring of research grants including those below £50,000. Other Gmnts The Charity a150 provides non-research grants in order to provide support to families affected by childhood cancer. such as funding roles at the hospital or providing medical equipment. All grants over £20,000 lor £2,OCrf) if not already included in the budget) must be approved bythe Board and all grants are reviewed by the Board. Conflltt of Interest poli The Charity has adopted a conflict of interest policy applicable to all Trustees, Members of the Sub-committee5 and Staff. This policy aims to protect both the organisation and the individuals involved from any appearance of impropriety. All Trustees, Members of the Sub-committees and Staff are asked to declare their interests and any gifts or hospitality received in connection with their role in the Charity. In accordance with the Tru5Ys policy, Trustees and Sub-committee Members are required to withdraw from decisions where a conflict of interest arises. Ethical Fundraising poIIcy At Candlelighters we aim to ensure that our supporters and the wider public are treated fairly and with respect. We continually monitor and review our practices to ensure we are adhering to the latest in fundraising regulations and practices. Fundralslng Standards Candlelighters voluntarily subscribes to the Fundraising Regulator and its Code of Fundraising Practice. All staff are aware of and adhere to Charity Commission guidelines and The Code of Fundraising Practice which sets out statutory obligations and best practice standards. Specific additional training is provided annually to Fundraising staff on The Code of Fundraising Practice. Thlrd Party Fundralslng We work with people and organisations raising funds on behalf of Candlelighters in order to ensure best prartice and the Fundraising Regulatorfs Code of Conduct is followed. Where applicable, signed contracts and agreements will be put in place. Complaints At Candlelighters we aim to maintain high standards in all areas of our work and complaints are an important way for us to identify and resolve issues quickly and learn how to improve our services and procedures, ensuring we are able to maintain high standards in all areas of our work. In the year to 28 February 2025. Candlelighters received one complaint relating to fundraising which arosefrom a misunderstanding andwas promptly investigated and resolved. In the instancewhere a complaint 15 received, Candlelighters has an internal complaints policy which guides staff on how to deal with complaints in an effective manner. Data Candlelighters is committed to the responsible use of personal data. We are transparent about what we do with personal data and strive to ensure that our supporters feel confident in how we are using it. Candlelighters is registered with the Information Commissioner'5 Office I'ICO") and we have a data protection policy in order to ensure we comply with the ICO guidelines. Pmtectlng vulnemble people Candlelighters is very conscientious about self-regulation of its fundraising activities and protecting vulnerable people. All staff are aware of and adhere to Charity Commission guidelines and The Code of Fundraising Practice from the Fundraising Regulator which set5 Out statutory obligations and best practice standards. Guidance is also given to those who fundraise on the Charivs behalf. Candleli8hters approach to fundraising 15 to avoid unreasonable intrusion into an individual's privacy, persistent approaches or undue pressure to donate to the Charity. 14 THE CANDLELIGHTERS TRUST Report of the Trustees for the year ended 28 February 2025 (continued) STRUCTURE, GOVERNANCE AND MANAGEMENT (contlnued) Auditors The auditors Thomas Coombs Limited will be proposed for re-appointment at the forthcoming Annual General Meeting. Small Company Exemptions The Trustees have taken advantage of the small company exemptions within the Companies Art 2006 in connertion with the preparation of the Trustees Report. Approved by the Board of Trustees on and signed on its behalf by: L Fletcher. Company Secretary th Date.. 8 October 2025 15 THE CANDLELIGHTERS TRUST Statement of Trusteeg responsibilities The Trustees (who are also directors of The Candlelighters Trust for the purposes of company lawl are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resource5, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently; obseNe the methods and principles in the Charities SORP 2019 {FRS 1021; make judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting Standard5 have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguardingthe assets of the charitable company and hencefortakin8 reasonable steps for the prevention and detection of fraud and other irregularities. In 50 far as the Trustees are aware: there is no relevant audit information of which the charitable companvs auditor is unaware; and the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. K Hardcastle Chalr- Trustee Dr E M Richards Trustee Date: 8, October 2025 16 THE CANDLELIGHTERS TRUST Independent auditors, report to the members of THE CANDLEUGHTERS TRUST Opinion We have audited the financial statements of The Candlelighters Trust for the year ended 28 February 2025 whlch comprlse the Statement of Financial Activities, the Charitable Company Balance Sheet and the Cash Flow Statement 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 Pratticel including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. In our opinion the financial statements: give a true and fair view of the state of the charitable companvs affairs as at 28 February 2025, and of the charitable companies 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 Prartice- and have been prepared in accordance with the requirements ofthe Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI {ISAs {UKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial 5tatement5 section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to going con￿rn In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or Conditions that, individually or collectively, may cast slgnificant doubt on the Charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The Trustees are responsible for the other information. The other information comprises the information included in the Trustees, annual report. other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and. in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. 17 THE CANDLELIGHTERS TRUST Independent audltors, report to the members of THE CANDLELIGHTERS TRUST (continued) Opinion on other matters prescrlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the trustees, report {incorporating the directors, report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and. The directors, report has been prepared in accordance with applicable legal requirements. Matter5 on which we are requlred to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors, report. 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: the charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or the charitable company financial statements are not in agreement with the accountin8 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,. or the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption from the requirement to prepare a strategic report. Responslbllltles of Trustees As explained more fully in the Trustees, responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditorfs responsibilities for the audlt of the flnanclal statements We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financi31 statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularitie5, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. 18 THE CANDLEUGHTERS TRUST Independent audltorf report to the members of THE CANDLELIGFrrERS TRUST lcontinued) Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations. We identified the laws and regulations applicable to the Charity through discussions with management, and from our commercial knowledge and experience of the sector. We focused on specific laws and regulations which we considered may have a direct material effett on the accounts of the operations of the Charity. including the Charities Act 2011. We assessed the extent of compliance with laws and regulations identified above through making enquiries of management and inspecting legal correspondence. Identified laws and regulations were communicated within the audit team regularly and the team remained alert to instance5 of non-compliance throughout the audit. We assessed the susceptibility of the Charity's financial statements to material misstatement. including obtaining an understanding of how fraud might occur. by: Making enquirie5 of management as to where they considered there was susceptibility to fraud, their knowledge of adual, suspected and alleged fraud. Considering the internal controls in place to mitigate risks of fraud and non-compliance with law5 and regulation5. To address the risk of fraud through management bias and override of controls, we: Performed analytical procedures to identify any unusual or unexpected relationships. Identified and tested journal entries and identified any significant transactions that were unusual or outside the normal course of business. Investigated the rationale behind significant or unusual transactions. Challenged assumptions and judgements made by management in determining significant accounting estimates. In response to the risk of irregularities and non-compliance with laws and regulations, we designed audit procedures which included, but were not limited to: Agreeing financial statements disclosures to underlying supporting documentation. Discussions with management of known or suspected instances of non-compliance with laws and regulations. Reading the minutes of meetings ofthose charged with governance. Reviewing correspondence with HMRC, relevant regulators includin8 the Charities Commission and the Charity's legal advisors. At the completion stage of the audlt, the engagement partner's review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud. There are inherent limitations in the audit procedures described above and the further removed non-compliance of laws and regulations is from the events and transactions reflected in the financial statements. the less likely we would become aware of it. Also, the risk of not detecting a material misstatement relating to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's web51te at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. Use of our report Thi5 report is made solely to the Charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to 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 and the Charity's trustees as a body, for our audit work, for this report, or for the oplnions we have formed. 19 THE CANDLELIGHTERS TRUST Independent auditors, report to the members of THE CANDLELIGHTERS TRUST {continued) Jordan Mitchell ACA (Senlor Statutory Audltor) for and on behalf of Thomas Coombs Llmlted Statutory Auditor & Chartered Accountants 3365 Century Way. Thorpe Park, Leeds, West Yorkshire LS15 8ZB 20 THE CANDLELIGHTERS TRUST (Company number 3020552) Statement of financial artivitie5 for the year ended 28 February 2025 {incorporating ststutory income & expenditure account) 2025 Total Funds 2024 Totol Funds Note Unrestricted Funds Restricted Funds INCOME AND ENDOWMENTS FROM Donations and legacies.. Donations and grants Branch fundraising events Legacies Trading activitie5 - sale of goods Investment income 1.416,428 1,104 70.796 7,113 72,633 308,093 27,208 1,724,521 28,312 70,796 7,113 72,633 1,581,359 3,279 62,340 8,525 110,670 Total Income and Endowments 1,$68,074 335,301 1,903,375 1,766,173 Expenditure on Raising funds Charitable activities 572,275 1,367,450 12,975 139,754 585,250 1,507,204 543,036 2,085,927 Total Expendlture 1.939.725 152,729 2,092,454 2,628,963 NET INCOME/ (EXPENDrfuRE) FOR THE YEAR BEFORE TRANSFERS (371,651) 182.572 (189.079) (862,790) Transfers 23 128,509 (128,509) NET INCOME/ (ExPEND￿uRE) FOR THE YEAR AFTER TRANSFERS (243.142) 54.063 1189.079) (862.790) Net Galns and L055e5 Gains / Ilossesl on fixed and current asset investments Realised Unrealised 57,906 63.703 57,906 63,703 17,784) 63,002 NET MOVEMENT IN FUNDS (121.533) 54.063 (67.470) {807,572) Reconciliation of funds Balances brought forward at l March 2024 2.642,978 35,373 2,678,351 3,485,923 BALANCES CARRIED FORWARD AT 28 February 2025 23 £2,521,445 £89,436 £2,610,881 £2,678,351 The statement of financial activities includes all gains and losses recognised in the year. All amounts related to continuing activities within the United Kingdom. The notes on pages 25 to 43 form part of these financial statements. 21 THE CANDLELIGHTERS TRUST (Company number 3020552) Balance sheet at 28 February 2025 Note 2025 2024 Flxed asset5 Tangible fixed assets Investments 12 13 480,150 2N78,846 491,942 2.597.634 2,958,996 3,089,576 Current assets Stock Debtors Investments Branch funds Cash at bank and in hand 13,805 64,180 45,586 10,390 156,260 13,925 29,539 375,369 13,846 190,677 14 15 290,221 623,356 Liabilities: amounts falllng due within one year Grant awards Other 16 16 (400,935) (166,311) (667.166) 192,237) Net current assets/lliabilities) (277,025) (136,047) Total assets less current liabilities 2,681,971 2,953,529 Liabilities: amounts falling due after more than one year Grant awards 17 (71,090) {275,178J Net assets 19 £2.610,881 £2,678,351 Funds of the Charity Unrestricted free charitable reserve Unrestricted - fixed assets reserve Unrestricted- designated: digital Restricted 23 23 23 23 2,041,295 480,150 2,078, 745 491,942 72,291 35,373 89,436 Total funds 23 £2,610,881 £2,678,351 Approved by the board ofTrustees on 8, October 2025 and signed on its behalf by: K Hardcastle IChalr- Trustee) Dr E M Richards (Trustee) The notes on pages 25 to 43 form part of these financial statements. 22 THE CANDLELIGHTERS TRUST Consolidated Cash Flow Statement For the year ended 28 February 2025 2025 2024 Note Cash flows from operating activities: Cash generated from/ (used inl operations 1438.760) (1,379,467) Net cash generated from/ lused in) operating activities 1438.760) (1.379.467) Cash flows from investing activities: Purchase of tangible fixed assets Purchase of investments Sale of investments Investment income 11,285) (1,611.193) 1,940,702 72.663 4,241 {767,129J 1,942,124 110,670 Net cash (used inl/ generated from Investln8 activities 400,887 1,289,906 Change in cash and cash equivalents in the reporting period (37.873) (89,561) Cash and cash equlvalents at the beginning of the reporting period 204.523 294,084 Cash and cash equlvalents at the end of the reportlng perlod £166.650 £204,523 The notes on pages 25 to 43 form part of these financial statements. 23 THE CANDLEUGHTERS TRUST Consolidated Cash Flow Statement Notes For the year ended 28 February 2025 RECONCILIATION OF NET INCOME/IEXPENDITURE} TO NEf CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 Net movement in funds for the reporting period las per the statement of rinancial activities) Adjustment5 for: Depreciatlon charges Loss on disposal of tangible fixed assets Net unreallsed {galns)/losses on Investments Net realised (gains)/losses on investments {Increase)/ decrease in cash held wlthln Investments Investment income Ilncrease)/decrease in stock Ilncrease)/decrease In debtors Increase/(decrease) in creditors (67,470) (807,572) 13.077 38,196 (57,906) (63,703) 240,641 (72,633) 120 (34,641) {396,245) (63,002) 7,7&1 (327,679J (110,670) 4,223 13,688 (134,435) Net cash generated from/ (used in) operatln8 actlvftles £{438.760) £(1,379,467) COMPOSITION OF CASH AND CASH EQUIVALENTS 2025 2024 Branch funds Cash at bank and in hand 10.390 156,260 13,846 190,667 Cash and cash equivalents £166,650 £204,523 24 THE CANDLELIGHTERS TRUST Note5 to the financial statementsforthe year ended 28 February 2025 General information The Candlelighter5 Trust is a company limited by guarantee, incorporated in England & Wales. The registered office is 8 Woodhouse Square, Leeds, LS3 IAD. The members of the company are the trustees detailed on page l. In the event ofthe company being wound up, the liability in respect of the guarantee is limited to £1 per member of the Company. Accountlng Pollcles Basis of Preparatlon The financial statements of the Charity, which is a public benefit entity under FRS 102, have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019.'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value. The Candlelighters Trust meets the definition of a public benefit entity under FRS 102. Asset5 and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. Preparatlon of consolidated financial statements The financial statements contain information about The Candlelighters Trust as an individual charity and do not contain consolidated financial information as the parent of a group. The Charity 15 exempt under Section 402 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as its subsidiary undertaking, Candlelighters Trading Limited, is dormant and is not material to the Charitls financial statements. Goln8 Concern The financial statements have been prepared on a going concern basis. The trustees (who are directors of The Candlelighters Trust for the purpose5 of company law and trustees of The Candlelighters Trust for the purposes of charity law) have reviewed the Charitvs financial position, taking into account the satisfactory level of reserves and cash, current year forecasts and its Systems of financial and risk management. As a result of their review, the trustees believe that the Charity is well placed to manage operational and financial risks successfullv. Fund Accounting Monies earmarked by donors or by the terms of an appeal for particular projects are accounted for separately. in Restrirted Funds. The notes to the accounts show the movements and balances on any such Restricted Funds. Unrestricted funds may be spent on any legitimate charitable aim as laid down in the Charity's memorandum of association. Unrestricted funds are held in the general reserve except to the extent that the Trustees consider it appropriate to make transfers to designated funds to meet the expetted cost of planned awards for the future. As c05t5 Qn such awards are incurred, they are charged against the designated fund to the extent that the fund proves sufficient. Any balance of such expenditure is charged against the general fund. If the project costs le55 than the amount in the designated fund, any surplus is transferred back to the general fund. The Charitls accounting systems allocate all income, expenditure, assets, liabilities and reserves between these funds. The statement of financial activlties shows separately the income, expenditure and any transfers relating to restricted funds. designated funds and general reserves. Assets and liabilities attributed to each fund are disc105ed in the notes to the financial statements. Income Donations and fundraising event income are included in the Statement of Financial Activities when.. the Charity is told it is to receive the gift or donation; the Trustees are reasonably certain of the amount to be received; the Trustees are reasonably certain they will receive the money; and any conditions for receipt are met. 25 THE CANDLELIGHTERS TRUST Notes to the financial statements for the year ended 28 February 2025 (contlnued) Accountlng Policies Icontlnuedl Income (contlnued) Legacies are recognised when it is probable that they will be received. Receipt is normally probable when: there has been grant of a probate; the executors have established that there are sufficient assets in the estate after settling any liabilities to pay the legacy,. and any conditions attached to the legacy are either within the control of the Charity or have been met. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income from government and other grants is recognised at fair value when the Charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred. Volunteers and Donated Services and Facilitie5 The value of Services provided by volunteers is not incorporated into these financial statements. Further details of the contribution made by volunteers can be found in the Trustees, annual report. Where services are provided to the Charity as a donation that would normally be purchased from a supplier, this contribution is included in the financial Statements at an estlmate based on the value of the contribution to the Charity. Expenditure Liabilities are recognised as resource5 are expended or as soon as there is a legal or constructive obligation committing the Charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Grants payable are payments made to third parties in the furtheran¢e of the charitable objectives of the Charity. The grants are accounted for where either the Trustees have agreed to pay the grant without condition and the recipient has a reasonable expectation that they will receive a grant, or any condition attaching to the grant is outside the control of the Charity. Irrecoverable VAT is charged against the category of resources expended for which it was incurred. Cost Allocation The Statement of Recommended Practice requires that costs are allocated where appropriate to charitable expenditure and to costs of generating funds. The Charitls central overhead5, including staff costs, have been allocated to charitable activity and costs of generating funds on the basis of the allocated time spent by staff on those functions with the aim of ensuring that those costs remaining with governance costs relate to the management of the Charity's assets, organisational administration and compliance with constitutional and statutory requirements. Costs of Raising Funds The costs of raising funds consist of commercial trading c05ts, investment management fees, branch fundraising events and those other costs incurred in attrading voluntary income. Charltable Activities Costs of charitable activities include grants made and an apportionment of overhead and support costs. Governance Cost5 Governance costs comprise all costs involving the public accountability of the Charity and its compliance with regulation and good practice. These c05ts include costs related to statutory audit and legal fees together with an apportionment of overhead and support costs. 26 THE CANDLELIGHTERS TRUST Note5 to the financial statements for the year ended 28 February 2025 Icontinued) Ac¢ountin8 Policles (contlnued) Pension Contributions The Charity pays defined contributions into the pension schemes of several employees. These amounts are charged to the Statement of Financial Activities as they become payable and in accordance with their functional classification. Operatln8 Leases Rental charges are charged on a straight-line basis over the term of the lease. Tangible Flxed Assets Tangible fixed a55ets are stated at cost less accumulated depreciation and actumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. After taking account of any impairment, depreciation is applied to all tangible fixed a55ets capable of operating as intended. at rates calculated to write off the c05t, le55 estimated residual value, of each asset on a systematic basis over it5 expected useful life as follows: Equipment Fixtures and fittings Pavilion The Square Brandon Cottage 20% reducing balance IO% reducing balance, 20% reducing balance 20% on cost IO% on cost 1% on cost Impairment Assets not measured at fair value are reviewed for any indication that the asset may be impaired at year end. If such indication exists. the recoverable amount of the asset, or the assevs cash generating unit. is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. Flxed and Current Asset Investments Quoted investments are stated at mid-market value. All losses and gains are taken direct 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 year end and opening market value {or purchase date if later). Debtors and creditors receivablelpayable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recogni5ed in profit or loss. Liabilities and Provisions Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event. it is probable that transfer of economic benefit will be required in settlement and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provision5 are measured at the best estimate of the amounts required to settle the obligation, Where the effett of the time value of money is material, the provision is based on the present value of those amounts. discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated Statement of Financial Activities as a finance cost. 27 THE CANDLELIGHTERS TRUST Notes to the financial Statements for the year ended 28 February 2025 Icontlnued) Accounting Policies (continued) Financial Instruments The Charity only has financial assets and financial liabilities of 3 kind that qualify as baslc financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Stock Stock is valued at the lower of cost and net realisable value. Cost is based on the cost of purchase on a first in, first out basis. Net realisable value is based on estimated selling price less additional costs to disposal. Judgements in Applying Accounting Policies and Estimation Uncertainty Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these key judgements and estimates have been made include the depreciation of fixed assets, the estimate of grant liabilities, the provisions for costs included within accruals and the allocation of donations and costs. t>onation5 and grants Unrestricted Funds Restrlcted Funds 2025 Total 2024 Totol Community Individual Giving Major Donor Corporate Trusts and Foundations Government Grants 672.786 92.943 110,500 491￿39 48.360 15,165 3,000 69,025 48,264 172,639 687,951 95,943 179,525 540,103 220,999 645.735 92,432 69.305 626,052 147.835 £1.416.428 £308,093 £1.724,521 £1,581,359 Total 2024 £1,449,316 £132,043 £1,581,359 Legacies Unrestricted Fund5 Restricted Funds 2025 Total 2024 rotal Legacies 70,796 70,796 62,340 £70,796 £70,796 £62,340 Total 2024 £62,340 £62,340 28 THE CANDLELIGHTERS TRUST Note5 to the financial statements for the year ended 28 February 2025 (continued) Investment Incorne Unrestricted Funds Restricted Funds 2025 Total 2024 Total Income from portfolio investments 72,633 72,633 110,670 £72.633 £72.633 £110,670 Total 2024 £110.670 £110,670 Costs of Rai5in8 Funds Unrestricted Funds Restricted Funds 2025 Total 2024 Total Postage Newsletter Fundraising expenses Opening stock Purchase of merchandise Closing stock IT costs Banking and platform charges Website costs Branch fundraising costs Investment managernent costs Staff training Waverley premises c05t5 Support costs Apportioned staff costs 5.127 13,494 70,787 13,925 5,774 (13,80S) 39,075 27.661 26,130 5,127 13,494 71,622 13,925 5,774 (13,8051 39,075 27.661 26,130 12.140 17.790 227 30.239 3,617 9,256 82.102 18,148 2,463 (13,925) 21,067 22,958 2,502 1.106 25,076 906 30.560 835 12.140 17.790 227 30.239 335.851 335,851 337,200 £572,275 £12,975 £585,250 £543,036 Total 2024 £543,036 £543,036 29 THE CANDLELIGHTERS TRUST Notes to the financlal statements for the year ended 28 February 2025 {contlnued) Charitsble A¢tivities Unrestricted Funds Restricted Funds 2025 Total 2024 Total Research grants Total grants awarded (see note 241 Grants no longer required (see note 241 Other grants Total grants awarded (see note 241 Grants no longer required (see note 24) 554, 734 11,4251 IIA25) 206,616 176.174) 206.616 {76,174) 119. 766 150,000) Othercharitoble activities Family financial support Support groups and parent information Holidays for familie5 Hospital Equipment and support Oncology cardiac funrtion monitors Other Brandon cottage costs Depreciation of Brandon cottage and fittin8S @The Square Running costs Depreciation of The Square Wellbeing treatments and support Front line staff costs Other family support costs 81,993 29A91 51,849 35,107 11.567 7A81 117,100 41.058 59,330 134.400 55,134 183.197 22,789 25,545 3,935 6,910 45,211 IN74 10,000 68,000 27,019 13,935 6,910 39,593 16,660 8.228 55,243 60,243 54,434 22,509 103,494 397,431 12.052 67,616 393,189 7,679 15,339 10,000 82,955 403,189 7,679 Support costs Depreciation IT costs Recruitment costs Other support costs Auditors. remuneration- payroll services Other staff costs- charity management and central support of charitable activitie5 Governance costs Isee note 8) 6.167 39,075 14N02 21A34 3,747 6.167 39,075 14A02 21A34 3,747 7,459 21.067 796 16.135 2,846 369AOI 36.543 369AOI 361,837 24,155 £1,367,450 £139,754 £1,507,204 £2,085,927 Total 2024 £1,651,966 £433,961 £2,085,927 30 THE CANDLELIGHTERS TRUST Notes to the financial Statements for the year ended 28 February 20251contlnuedl Governance Costs Unrestricted Funds Restricted Funds 2025 Total 2024 Total Auditors, remuneration {audit services) Legal and professional Meetin8S Apportioned staff costs 10.402 16,906 1,535 7,700 10,402 16,906 1.535 7,700 9,462 5,182 1,981 7.350 £36.543 £36,543 £24,155 Totol 2024 £24,155 £24,155 Expendlture staff Costs Depreclatlon Other Costs 2025 Total 2024 Total Costs of raising funds Charitable activities {excluding governance) Governance costs 335,851 772,590 249,399 684,994 585,250 1,470,661 543,036 2,061,772 13,077 7.700 28,843 36,543 24,155 £1,116,141 £13,077 É963,236 £2.092,454 £2,628,963 Total 2024 £1,103,818 £38,196 £1,486,949 £2,628,963 10 Staff Costs 2025 2024 Wages and salaries Social security costs Pension costs 971.522 81,992 62,627 968,468 81,899 53,451 £1,116,141 £1,103,818 31 THE CANDLELIGHTERS TRusr Notes to the financlal statements for the year ended 28 February 2025 (contlnued) 10 Staff Costs (continued) The total employment costs to the Charity of the key management personnel during the year were £365,67012024: £340.587}. These amounts are total staff costs and therefore include social security costs and employer's contributions to pension schemes. The average number of key management personnel/ senior management team during the year was 612024: 61. Reimbursed expenses, which are all subject to the Charitvs processes of internal controls, do not form part of remuneration and are not included above. Expenses reimbursed to trustees in the year totalled £nil (2024: £3561. All Trustees give their time freely and no Trustee remuneration was paid in the year. During the year monetary donations made by Trustees to the Charity totalled £97012024: £1201. The number of employees whose employee benefits lexcluding employer pension costsl exceeded £60,000 was: 2025 Number 2024 Number In the band £70,001- £80,000 Pension contributions of £3,90012024: £3,579) were paid by the Charity for the above employee. The average number of paid employees (including part-timel was: 2025 Number 2024 Ivumber Administration, management, fundraising and charitable expenditure support 33 37 The average full time equivalent of employees during the year was 29 {2024: 34.21. The breakdown of employees per department was as follows: 2025 Number 2024 Number Fundraising staff Front line support staff Charity management and central 12.9 14.6 10.5 29.0 34.2 32 THE CANDLELIGHTERS TRUST Notes to the financial statements for the year ended 28 February 2025 {continued) 11 Comparatives for the Statement of Financial Activities 2024 Total Funds Note Unrestricted Funds Restrirted Funds INCOME AND ENDOWMENTS FROM Donations and legacies= Donations and grants Branch fundraising events Legacies Trading activities - sale of goods Investment income 1,449,316 1.574 62,340 8,525 110,670 132.043 1.705 1.581.359 3,279 62.340 8,525 110,670 Total Income and Endowments 1,632,425 133,748 1,766,173 Expenditure on Raising fund5 Charitable activities 543,036 1,651,966 543,036 2,085,927 433,961 Total Expenditure 2,195,OOZ 433,961 2,628,963 NEf INCOME/ (EXPENDITURE) FOR THE YEAR BEFORE TRANSFERS (562,577) (300,213) (86Z,790) Transfers to restricted research 23 49,561 (49,561) NEf INCOME/ (EXPENDITURE) FOR THE YEAR AFTER TRANSFERS 1513,0161 {349,7741 (862.790) Net Gains and Losses Gains l (losses) on fixed and current asset investments Realised Unrealised {7,7841 63,002 17,784) 63,002 NET MOVEMENT IN FUNDS 1457,798} 1349,774) 1807,572) Reconciliation of funds Balances brought forward at l March 2023 3,100,776 385,147 3,485,923 BALANCES CARRIED FORWARD AT 29 February 2024 23 £2,642,978 £35,373 £2.678,351 33 THE CANDLELIGHTERS TRUST Notes to the financlal statements for the year ended 28 February 2025 {continuedl 12 Tangible Fixed A55ets Freehold Leasehold Property Improvement Fixtures & Fittings Brandon Cottage The Square Brandon Office Cottage equipment Pavilion Total Cost As at l March 2024 Additions Disposals 635,279 225,303 326,539 114,890 66,072 1,285 1,368,083 1,285 As at 28 February 2025 635,279 225,303 326,539 114,890 67,357 1,369,368 Accumulated depreciation and impairments As at l March 2024 222,779 225,303 326,539 65,562 35,958 876,141 Charge for the year 6,910 6,167 13,077 Disposal As at 28 February 2025 222,779 225,303 326,539 72,472 42,125 889,218 Net Book Value At 28 February 2025 412,500 42,418 25,232 480,150 At 29 February 2024 412,500 49,328 30,114 491,942 The freehold property represents the asset of Brandon Cottage which provide5 accommodation for fami5ies whilst their child is being treated at the h05Pltal. We continue to monitor closely any developments with the potential new children's h05Pital and any accommodation that would be provided with that which, in turn, may impact the value in use ofthe Cottage. Atthis stage, the Cottage is expected to still be in use for a number of years and the Trustees consider the existing carrying value is appropriate. The Square costs represent capital improvements and internal fittings and furniture within a leasehold property. The property hosts the family 5UPPOrt centre of the Charity. The Trustees considered costs incurred In the building of the Pavilion are improvement5 on leasehold land owned by the Leeds General Infirmary. 34 THE CANDLELIGHTERS TRUST Notes to the financial statements for the year ended 28 February 20251continuedl 13 Fixed Asset Investments Quoted Investments Market value at l March 2024 Additions Disposals Net unrealised gains 2,274,678 959,662 1905,780) 65,398 2,393,958 Cash held in investment portfolio awaiting investment 58,081 Investment portfolio.. market value 2.452,039 Subsidiary undertaking: cost 26,807 Carrylng value at 28 February 2025 £2,478,846 Historical cost as at 28 February 2025 £2,274,301 At 28 February 2025 and 29 February 2024, no individual investment represented more than 5% of the total investment portfolio. A separate investment portfolio with a lower risk categorisation is held for liquidity and working capital purposes and disclosed as a current asset in note 15. All investments are carried at their fair value. Investment in equities and fixed interest securities are all traded in quoted public markets, primarily the London Stock Exchange. Asset sales and purchases are recognised at the date of trade at cost {that is their transattion value}. The significance of financial instruments to the ongoing financial sustainability of the Trust is considered in the financial review and investment policy and performance sertions of the Trustees, Annual Report. The main risk to the Charity from financial instruments arises from uncertain investment markets resulting in variable income and capital returns from the portfolio of assets. Currency translation risks remain for those companies and bonds that are exposed to over5ea5 earnings and assets. Liquidity risk is anticipated to be low as all assets are traded on recognised exchanges with good liquidity and high trading volumes. The Charity'5 Portfolio has no material investment holdings in markets subject to exchange controls or trading restrictions. 35 THE CANDLELIGHTERS TRUST Note5 to the financial 5tstements for the year ended 28 February 2025 (continued) 13 Fixed Asset Investments (continued) The Charity manages investment risk by appointing professional investment managers and operating an investment policy that provides for a high degree of diversification of holdings Wlthin investment asset classes that are quoted on recognised stock exchanges. The Charity does not make use of derivatives and similar complex financial instruments as it takes the view that investments are held for their longer term total return. Whilst some level of volatility can reasonably be expected, historic Studies of quoted financial instrument5 have shown that volatility in any particular five year period will normally be corrected. Subsidiary undertaking The £26.807 investment represents a 100% holding in the issued share capital of Candlelighters Trading Limited, a company registered in England and Wales. The subsidiary was dormant and had net assets of £26,80712024.' £26,807). 14 Debtors 2025 2024 Amounts falllng due wlthln one year: Accrued legacy Income Prepayments and other accrued income 27,000 37,180 24.539 £64,180 £29,539 15 Current Asset Investments 2025 2024 Listed investments 45,586 375,369 £45.586 £375,369 The fair value of listed investments is determined by reference to the quoted price for identical assets in an artive market at the balance sheet date. 36 THE CANDLELIGHTERS TRUST Notes to the financial statements for the year ended 28 February 2025 (continued) 16 Liabilities: Amounts Falllng Due Within One Year 2025 2024 Creditors in the ordinary course of activities Amount owed to subsidiary Accruals Soclal security Other creditors Hospital equipment 23,467 26,807 18,126 21,074 8,837 68,000 27,065 26,807 18,624 19,315 426 166.311 92,237 Grant awards 400,935 667,166 £567.246 £7S9,403 17 Liabilities: Amounts Falling Due After More Than One Year 2025 2024 Grant awards £71.090 £275,178 18 Reconclllatlon of Grants Awarded 2025 2024 Opening liability obligation 942,344 1,059,899 Grant5 awarded in the year {note 241 Provisions no longer required Inote 24} 206,616 {77,599) 674,500 (50,000) Paid during the year (599,336) (742.055) Closlng liability obligation £472,025 £942,344 37 THE CANDLELIGHTERS TRUST Notes to the financial ststement5 for the year ended 28 February 2025 (continued) 19 Analysis of Charity Assets between Funds Restrlcted Funds General Funds Total Funds Tangible fixed assets Fixed asset investments Other current assets Liabilities 480,150 2A78,846 200,785 (638,336) 480,150 2,478,846 290,221 (638,336) 89,436 Net assets at 28 February 2025 É89.436 £2,521,445 £2,610,881 20 Taxatlon The Candlelighters Trust is a registered charity and therefore is not liable to income tax and corporation tax on income and gains derived from its charitable activlties as it falls within the various exemptions available to registered charitie5. 21 Trustees Interests and Related Party Dlsclosures Trustees are required to declare an interest in contracts with which they are connected. Several Trustee5 Use their expertise in areas affecting The Candlelighters Trust but no Trustee had any significant personal financial interest in contracts with the Charity during the year. Medical Trustees and members of the Medical Review Panels are not precluded from applying for grant funding for projects. Interests in projects are required to be disclosed and the relevant Trustees and panel members take no part in the decision process. Their projects are assessed using the same criteria as that which applies to all potential grantees. 22 Capital The Candlelighters Trust is a charitable company, limited by guarantee and has no share capital. The members have agreed to contribute £1 each to the Charit¢s assets in the event of it winding up, if its assets should prove insufficient to cover its liabilities. 38 THE CANDLEIIGHTERS TRUST Notes to the financial statements for the year ended 28 February 2025 {continued) 23 Movements In Funds Movements In funds- current year At l March Incomln8 2024 resources Resources èxpendèd Restrlctlon Fulfilled Other Transfers Other tains and losses At28 Febnwry 25 Unrestrlcted funds Free charitable reserve 2,078,745 1,568,074 IIW4A57) 128,509 11.285) 121.609 2.041.295 Fixed assets reseNe 491.942 113,077) 480.tso Designated fvnd- digital 72291 In.291) Total unre$trlcted 2,642,978 1.568.074 11.939,7251 128.509 121,609 2,521,445 Restrlcted funds Research fund 27.208 110.7151 16A93 Mr & Mrs Coopland 69.025 169,0251 Holmfirth High school 14.114 Ill￿8) 3,026 Cardiac monitors 45.211 1452111 Bramall Foundation james Tudor Foundatlon 10,000 Iio,oth)I 10,000 {10,0001 Frances & Augustus Newman Foundation 82,739 147,4901 35.249 Su5ie P Foundation lo.￿0 {10.0￿) Other 35,373 67.1￿￿ {55.7￿) Ilip941 34,668 Totsl re5trirtÈd 35.373 335.301 1152.7291 1128.5091 89,436 Total £2,678,351 £1.903.a75 1£2,092A541 £121.609 £2,610A81 39 THE CANDLELIGHTERS TRUST Notes to the financial statements for the year ended 28 February 20251contlnuedl 23 Movements in Funds Itontinued) Movement5 in Fund5- prior year At l March 2023 Incomln8 Rèsources Resour￿$ Expènded Restrlctlon Fulfilled Other Transfèrs Other Gains & Losses At29 February 2024 Unrestrirted fund5 Free charitable reserve 1,673,099 1,631425 11,874A341 49.561 542.876 55.218 2,078.745 Fixed assets reserve Inote 121 525,897 {38.1%1 4.241 491.942 Oesignated fund Digit81 101.511 1292201 72,291 Oesignated fund - SupportNe Care 700.269 1253.1521 1447.1171 Oeslgnated fund - Research Pot ioo.ofy) Iioo.001 Re$trkted Fund$ Research fund 299.731 IA51 1301,5821 Children in Need- Twin Vision 10.589 110,5891 Harry and Mary Foundation 10.000 10,000 iio,0001 16.7561 3.244 Clay Day5 19,976 119,9761 Mazars Is,ooo 114,1361 864 ups 1,045 11,0451 Susie P Foundation i0,0￿j iio,0001 Other 19,206 111,897 167,0331 142,8051 31.265 Totsl £3.485,923 £1.766.173 1£2.628.9631 £55.218 £2.678A51 40 THE CANDLELIGHTERS TRUST Notes to the flnanclal statements for the year ended 28 February 2025 (contlnued) 23 Movements in Funds (tontinued) Restricted Funds Monies donated to the Research Fund are restricted solely for the purpose of funding research. The Mr & Mrs Coopland fund is money received from Mr & Mrs Coopland restricted towards the funding of the outreach play specialists. Holmfirth High School donated £14.114 in the year half restricted to family holidays and half to new patient grants. The Cardiac monitors restricted fund reflects income raised by J9 Advisory restricted towards the purchase of cardiac monitor equipment at the hosPIt31. The Bramall Foundation reflert5 monies received from the Liz and Terry Bramall Foundation towards new patient grants. During the year, theJame5 Tudor Foundation donated £10,000 restrirted towards the costs of a Family Support Worker. The Frances & Augustus Newman Foundation donated £82.739 in the year restrirted towards the Candlelighters Supportive Care Research Centre research programme. The Susie P Foundation havefunded £10,000 per annum for threeyears restricted towards the costs of the Candlelighters Cottage. Any amounts showing as "Restriction Fulfilled. against restricted funds is where we have fulfilled the conditions of the funding typically from the Charity funding a particular project or role where the reserves may have been reduced and expenditure recorded in a different financial period because, under the accounting for grants payable, full expenditure is recorded at commitment date. Unrestrirted Funds Unrestricted funds are spent or applied at the discretion of the trustees to further any of the Charitls purposes. General Funds The Free charitable reserve are funds not set aside or restricted for any other purpose and can also be used to supplement expenditure made from restricted funds. for example. research. The fixed assets reserve represents funds tied up in tangible fixed assets and 50 are funds which are excluded from "free general reserves.Thefixed assets can be5een in note 12and the majorityof the assetvalue and associated reserve relates to the Candlelighters Cottage. Designoted Funds The Digital designated fund reflerts funds designated to making the Charity more digital. The fund was fully utilised in the year due to the two major projects of updating the CRM system and the website. The Board de-designated the Supportive Care fund, effectively representing years 4 and 5 of the Candlelighters Supportive Care Research Centre, in the prior year because the Charitws Free reserves level fell below the target range in the reserves policy. Accordingly effort5 are being madeto rai5efund5 againstthe programmeto supportfuturecommitment in the Centre. Thegeneral research potwas de-designated in the prioryearforthesame reason and the research focus beingon supportive care. 41 THE CANDLELIGHTERS TRUST Notes to the financial statements for the year ended 28 February 2025 (contlnued) 24 Grants Awarded Research qrnnts 2025 2024 Candlelighters Supportive Care Research Centre (three years) 554,734 554,734 Genernl grants Eckersley House - l year continuation Dinner Supervisor- l year continuation Outreach Play Specialists - 2 year continuation Playleaders - l year extension Paediatric radiographers - 8 month extension Other 10.000 26,000 170,616 10,000 27,435 63,000 17,769 1,562 119,766 206,616 Total 206,616 674,500 In addition to the grants awarded there was a £77,599 {2024: £50,000) release in the year. £67,000 of this was for the release of the full award for the Youth Activity Co-ordinator role which was awarded in the financial year ended February 2023 but the role was not possible through the NHS so we have now employed that role in-house. The rest of the release for this year and all of the prior year was for historic funding awards not utilised meaning grant provisions were no longer required. 25 Controlling Party The Trustees of The Candlelighters Trust are considered to be the controlling party of the company. 26 Operatlng Lease Commitments At 28 February 2025, the Charity had commitments to make future minimum lease payments under non-cancellable operating leases a5 follows: 2025 Total 2024 Totol Within l year Between l and 5 years 27.210 77,921 24,567 10,425 42 THE CANDLELIGHTERS TRUST Notes to the flnanclal statements for the year ended 28 February 2025 (contlnued) 27 Contingent assets and liabilities At the year end, the Charity had contingent liabilities totalling £444.955 (2024: £692.9551 relating to conditional grants. These grants are payable following 5ucce55ful progress reviews and the Charity reserves the right to terminate the funding agreement at their discretion based on this review. Accordingly they are not provided for in the financial statements. The Charity intends to fund these grants out of funding received in the future. 43