SWEDA
SUPPORMNG PEOPLE wiThJ
EATING DISORDERS
ACROSS THE SOUTH & WEST
ANNUAL REVIEW
APRIL 2023- MARCH 2024
## CONTENTS
**3. An introduction from Our Chair**
**4. what we do**
**5. why it matters**
**7. 2023/24 in numbers**
**8. Our impact**
**10. sweda stories**
**12. progress towards our strategic aims**
**14. INCOME & EXPENDITURE 2023/4 15. thank you**
## **16. vision, mission and values**
“SWEDA have provided me with invaluable support throughout my time with them. I have been listened to, treated with respect and dignity and supported throughout. I honestly don’t know where I’d have been without them.”
SWEDA CLIENT 2023/4
## an introduction from our chair
What a year 2023/4 has been for SWEDA! We not only celebrated our 32nd year but have seen our turnover exceed £1m .
In addition, we have welcomed 4 new trustees providing much valued experience and support. I would like to thank them and all the dedicated staff, volunteers and supporters who have helped SWEDA to be here for so many people across the South & West this year. Although it’s known that specialist early intervention reduces the severity and duration of the psychological, physical and social impacts of eating disorders, there are still too many people who can’t get the help they need. SWEDA is working hard to ensure children, young people and adults with disordered eating can get the help how, when and where they need it.
We have grown to meet urgent need, and continue to see an increase in the number of people turning to us for support. We have expanded our services geographically, winning a contract from the NHS to deliver our therapeutic services in Oxfordshire, and growing our team in Bristol, North Somerset and South Gloucestershire. We have also developed new services including nutritional support to help clients achieve a sustained recovery and began the development of a parent / carer pathway, a vital component of our growing services for children and young people.
Karen Prosser Chair of Trustees
To reflect our growth and broader reach, we changed our name during Eating Disorder Awareness Week in February from the Somerset and Wessex Eating Disorder Association to simply ‘SWEDA’. We are proud of our 32-year history and the reputation we have established as compassionate eating disorder experts, but we wanted our name and the way we looked to reflect our growth and ambition. The new name was accompanied by a fresh visual identity, and more active engagement with our supporters, including a new monthly newsletter.
But most important is the impact we have on the lives of people with eating disorders. Our data shows that our therapeutic services have maintained a high success rate in reducing disordered eating behaviours and psychological distress and improving wellbeing (see our impact data on page 8).
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## what we do
## 1-2-1 support for adults
## why it matters
Eating disorders are serious illnesses with far-reaching psychological, physiological, and social consequences for individuals and their families.
Psychotherapeutic Counselling – a series of sessions with a specialist counsellor.
Daisy Project – an evidence-based, treatment informed 12 session programme focusing on specific eating disorder behaviours.
Support calls – a series of 30-minute calls with a Therapeutic Support Worker designed to address one or two specific goals.
Nutritional sERVICE –sessions with our qualified nutritionist to explore how eating plays a role in recovery.
Support Groups – confidential groups facilitated by qualified counsellors.
Our twice-weekly helpline, Mindline.
## Support for children and young people and their families
Counselling with ED specialist therapeutic support workers
1-2-1 support for parents and carers – a series of support calls or counselling sessions.
Information sessions and resources – a programme of events and resources to equip parents and carers with tools and confidence in supporting their child.
College support – specialist support sessions for students at Somerset and Bristol colleges.
## Training and raising awareness
Training for counsellors and professionals working with people with eating disorders.
Stalls at freshers fairs and presentations in schools and colleges.
Open access resources about what EDs are, how to cope and how to support someone you care about.
“My journey with SWEDA has been phenomenal and positively life changing. AMAZING!” SWEDA CLIENT 2023/4
- BEAT estimates that eating disorders directly impact 1.25 million adults in the UK, although this estimate is based on pre-pandemic figures and more recent research would indicate a sharp rise in eating disorders across the population:
- Anorexia nervosa carries the highest suicide rate of any mental health concern, and the average recovery time is 10 years.
- Hospital admissions for eating disorders increased by 84% in the 5 years leading to 2021 (NHS).
- In 2023, the NHS showed that 2.6% of 11-16 year olds and 12.5% of 17-19 year olds screened positive for possible eating disorders, up significantly from 0.5% and 0.8% respectively in 2017 (Mental Health of Children and Young People in England, 2023).
- The same report identified that 59.4% of young people aged 17-19 were experiencing eating problems.
SWEDA is the only charity in the South & West of England to provide specialist preventative 1-2-1 recovery-focused support for people affected by eating disorders. Our work focuses on preventing escalation of disordered eating before people become seriously ill, improving the likelihood of a sustained recovery.
somerset
bristol
gloucestershire oxfordshire
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## 2023/24 4 in numbers
**1,015 174** individual clients received 1-2-1 support, 32% increase on last year. 1-2-1 support, 33%33% more than
**310**
>“aeee
children and young people received 1-2-1 support, 33%33% more than 2022/23.
people signed up to receive our new monthly newsletter
**4,789** therapeutic sessions delivered, 27% **38** increase on last year. support groups were attended by clients and carers
**8,100**
volunteer hours contributed by our wonderful volunteers valued at £84,402 (based on National Living Wage of £10.42 2023/24)
Over
**16,000** people met our specialist staff at fresher fairs, community events and in schools and colleges
**373** professionals engaged through training and events, including school and college staff and GPs
**100%**
of SWEDA staff say they would recommend SWEDA as a good place to work (anonymous staff survey, June 2023)
“To get better you need motivation, self reflection and resilience. But you need a bloody good therapist too. And that’s what (my SWEDA Support Worker) was to me.
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1200
number of 1-2-1 sweda clients
1000
800
600
400
200
0
19/20 20/21 21/22 22/23 23/24
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There were challenges, and she made me work for it, but I felt she was there with me every step of the way.
I feel less ashamed of what I’m holding onto and learned to approach my illness with curiosity and reflection, rather than shame. I feel a lesser need to pretend I’m someone I’m not.”
SWEDA CLIENT 2023/4
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## our impact
This year, we continued to work with the Children’s Outcome Research Consortium (CORC), a project of the Anna Freud Centre to measure our impact.
We use three questionnaires at the beginning and at the end of our work with clients. The questionnaires measure the progress made in a client’s eating disorder and their eating disorder behaviours (EDEQ for adults and EDEA for CYP), psychological distress (CORE OM for adults and CORE YP for children and young people) and client wellbeing through our own Wheel of Wellbeing.
## For adults
87%
of our clients reported an improvement in disordered eating thoughts and behaviours.
83%
reported less psychological distress.
88% reported improved wellbeing.
“SWEDA was my lifeline. Every session was a chance for me to be my true self and explain my thoughts and feeling around my eating disorder. I now have a range of coping strategies to help me control my eating
## For children and young people
87% 86+% of our clients reported an reported less psychological improvement in disordered eating distress*.
67% reported improved wellbeing.
of our clients reported an improvement in disordered eating thoughts and behaviours.
This is an improvement on all measures to last years’ data, except for wellbeing in children and young people which has dropped from 73%.
*small number suppression has been applied to protect the anonymity of clients, less than 3 individuals deteriorated or stayed the same
We ask all clients to complete an experience of service questionnaire, highlights from 2023/4 are:
100%
91%
90%
of family and/or carers who received a support & guidance session said that if a friend needed similar help, they would recommend they came to SWEDA
of clients said that the Daisy of counselling clients said that programme gave them coping their counsellor helped to create a strategies for the future and 78% safe and trusting environment. reported that it helped them to understand what keeps their eating disorder going
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## E’s Story
“My GP referred me to SWEDA at a time when my eating disorder was out of control. I suffer from a binge eating disorder triggered by anxiety and having gained a lot of weight within a short amount of time, I was finding it impossible to cope with my life and I was considering suicide. I’ve been struggling with eating disorders for half my life and until relatively recently I didn’t have much of a support network and I’ve been mostly managing the condition alone. Things got so bad, I couldn’t leave my house, work, see people, enjoy things or feel anything all together.
I wanted help and guidance to not only overcome the current situation but to build healthy coping mechanisms to avoid this ever happening to me again.
Every session, we set goals and discussed how I could accomplish them. In time, that helped me build up faith that I could get better. I started exercising and stuck to a healthy diet and managed to build a routine that worked and gave me a purpose. We talked about slowly introducing foods that were triggering to me. I started leaving the house and seeing people - first meeting one person outdoors and gradually working up to meeting four people in a busy coffee shop. I tried to be less judgemental and harsh with myself; there were instances when I ate something I felt I shouldn’t have and though I still felt guilty I didn’t self-harm or tip into a binge - which was how I used to cope when I overate. I also managed to focus on my creative projects, which I had neglected.
From the very start I felt listened to and understood. I felt comfortable to discuss my struggles, I never felt condescended or belittled. I’ve never been good at asking for help because every time I have people have let me down. I know this is a constant process and I need to keep working at it but I do feel I am better equipped now thanks to SWEDA”
## A parent’s story
“SWEDA have been amazing. Recognising the importance of offering help and therapy in the early stages I really think stopped my daughter from developing a full blown eating disorder. I believe she had the potential to spiral deeper had it not been for SWEDA intervention.
She is now coming to the end of her therapy and is generally a much happier, confident individual who no longer feels the need to control her food intake. We both feel supported by SWEDA and are confident that should she need further intervention in the future, they will be there for us.
I feel the work of SWEDA is so valuable given how many people are now suffering from body issues and eating disorders. As we found, the mental health services available for young people are often unable to help until the situation reaches crisis point.
Being able to intervene in the early stages as SWEDA did for us will mean that someone who needs help will hopefully not reach crisis point.”
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## Progress towards our strategic aims in 2023/4
## Our 5 Year Strategy 2021-2026 has 4 key objectives. Here are some highlights of the progress we have made towards them this year
## 1. Engage, enable and empower all those affected by EDs in our region
## those affected by EDs in our region
To ensure our clinical team are equipped to manage the increasingly complex needs of our clients Nerissa, our Clinical Lead, has expanded the Core Training that new SWEDA staff and placement counsellors receive to a minimum of 6 full days training a year.
We are strengthening our alliances with global majority communities, presenting at the People of Colour Mental Health Network Event in Bristol in June and opening conversations with Nilaari, the Bristol Somali Resource Centre and the Chinese Community Wellbeing Society about working together to explore how eating disorders present in different communities.
## 4. Develop strategicalliances
We continue to develop and invest in working closely with partners including
Through SWEDA’s Champion Programme our specialist counsellors choose an area of expertise which they research and receive training on. They then share their knowledge and act as a point of contact for colleagues with questions on their specialism. Champion areas include perinatal, LGBTQ, domestic violence and sexual abuse.
## 2. Increase provisionfor young people
## for young people
A new pathway of support for parents and carers kicked off with a well-received face to face Parent Information Session in Shepton Mallet in March, and will be rolled out through 2024.
Our children services have outgrown the counselling space available at our HQ in Shepton Mallet, so in the spring our children and young people’s team moved next door to Highfield House, and we’ve given the space a SWEDA makeover to create a warm and welcoming environment for young people and their families including a low sensory space for anyone who needs it.
## Address the diverse cause and presentations
## 3.
## of EDs among different groups and communities
This year we have carried out a major piece of work to make SWEDA neurodivergence friendly. Evidence is growing of a correlation between neurodivergence and disordered eating behaviours, e.g. research shows that 30-50% of people who develop anorexia or restrictive eating patterns have neurodivergent traits. A series of training days included a speaker with lived experience of autism and anorexia, and we have made changes to our premises and communications.
- REDCAN – the network of regional eating disorder charities with whom we share knowledge tools and expertise through regular leadership and clinical meetings
- Open Mental Health in Somerset and the VCSE Mental Health Alliance for Bristol, North Somerset and South Gloucestershire, coalitions of VCSE organisations who work together to ensure that people with mental health services get the right support at the right time
- The NHS, who commission us to deliver our own therapeutic preventative services to adults in South Somerset, Bristol, North Somerset and South Gloucestershire and children and young people’s services in South Somerset. We have had a significant impact on their waiting lists.
‘AS AN INTEGRATED CARE SYSTEM WE HAVE INTRODUCED A NEW VCSE PARTNER CALLED SWEDA. THIS QUICKLY OFFERS PEOPLE MORE HOLISTIC SUPPORT AND HAS REDUCED WAITING LISTS BY OVER 50%’
THE BNSSG ALL AGE MENTAL HEALTH AND WELLBEING STRATEGY. PUBLISHED IN JANUARY 2024
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## income & expenditure 2023/4
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INCOME
138,357
DONATIONS & GRANTS
17,905
INVESTMENT INCOME
865,641
Charitable activities
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EXPENDITURE
74,840
Raising Funds
752,063
Charitable activities
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## thank you!
THANK YOU to all the people and organisations who have made our work possible this year including;
- Our funders who have enabled us to grow and expand our services,
- Parents and clients in recovery who have donated to us because they want other people to be able to benefit from SWEDA’s support,
- Community organisations and businesses who have chosen to fundraise for us,
- Our team of staff and placement counsellors who consistently go above and beyond,
- And most of all to our clients, whose courage and trust motivates and inspires us every day.
## Thanks for being part of the SWEDA family.
## If you would like to support SWEDA’s work, you can;
## Donate to us online.
Sign up for newsletters and updates, so we can keep you informed and let you know when we need help. You can sign up via our website.
## Fundraise for us
by hosting a fundraising event or sponsored activity.
## Nominate us
## Become a trustee.
for your workplace’s Charity of the Year, or to benefit from your club or organisation’s fundraising activity.
Our trustees are crucial to SWEDA, we are particularly looking for people who have lived experience and / or the skills to help us continue to grow and thrive.
## Share your story.
Tell us what SWEDA means to you so we can show everyone how important our work is. Get in touch with hello@swedauk.org to find out more.
## For more details about how you can support our work, please visit www.swedauk.org
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## Vision
Our vision is to support everyone affected by eating disorders across the South & West
## Mission Statement...
We engage with people affected by eating disorders including family and friends, offering hope and enabling access to support services to empower recovery.
## our values
## Compassionate
to our clients and each other
## Hopeful
we are pro-recovery, believing that recovery is always possible
## Accountable
holding ourselves and the people we work with to a high standard
## Ambitious
we want the best for our clients and for ourselves
## SWEDA’s approach
SWEDA take a whole person approach to working with people with eating disorders, recognising that each person is much more than just their eating disorder. Everyone is unique, and different people need different types of support. We work with our clients, learning from them to improve what we do. Over 75% of our staff and trustees have lived experience of an eating disorder and this wealth of experience is at the core of how we plan and deliver our services.
> www.swedauk.org **01749 343344**
> @swedauk ° @SWEDAUK ° @SWEDAUKORG @sweda_uk_org ~~>~~ UK Registered Charity 1056441 • UK Company Limited By Guarantee 3208772 ~~eee~~
## **SWEDA LTD**
**FINANCIAL STATEMENTS 31 MARCH 2024**
**Charity Number: 1056441 Company number: 03208772**
## **SWEDA LTD**
## **FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2024**
|**Contents**|**Page**|
|---|---|
|Reference and Administrative Information|1 - 2|
|Trustees’ Annual Report|3 – 15|
|Independent Auditor’s Report|16 - 19|
|Statement of Financial Activities|20|
|Balance Sheet|21|
|Cashflow Statement|22|
|Notes to the Financial Statements|23 – 33|
## **SWEDA LTD**
## **REFERENCE AND ADMINSTRATIVE INFORMATION**
## **YEAR ENDED 31 MARCH 2024**
## **Registered Charity Name:**
SWEDA LTD (formerly known as The Somerset and Wessex Eating Disorder Association)
**Registered Company Number Registered Charity Number**
03208772 (England and Wales)
1056441
**Registered Office**
The Coach House Harvest Court, Park Road, Shepton Mallet. Somerset. BA4 5BS
**Website**
www.swedauk.org
**Trustees**
The Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:
Sarah Hall Richard Cussell (resigned 20/07/23) Barbara Ann Clift (resigned 23/11/23) Sarah Brennan (resigned 18/05/23) Sanni Norweg (resigned 09/01/24) Meg Potts Karen Prosser (appointed Chair 23/11/23) Edward Day (appointed 23/11/23) Rebecca Partos (appointed 23/11/23) Ian Creek (appointed 15/5/24) Rhiannon Roberts (appointed 15/5/24 – resigned2/8/24) Hannah Lewis (appointed 15/5/24) **Quality & Governance sub-committee** Meg Potts, Hannah Lewis & Sam Best **Finance sub-committee** Edward Day, Karen Prosser, Ian Creek, Fiona Bevan & Paula Blight **Clinical sub-committee** Rebecca Partos, Sarah Hall, Hannah Lewis & Nerissa Shaw **Remuneration sub-committee** Karen Prosser, Sarah Hall, Meg Potts, & Paula Blight/Sam Best **Income Generation & Comms sub-committee** Sarah Hall, Meg Potts, Ian Creek & Deborah Xavier
**1**
## **SWEDA LTD**
## **REFERENCE AND ADMINSTRATIVE INFORMATION**
## **YEAR ENDED 31 MARCH 2024**
**Senior staff** Paula Blight (Chief Executive) Sam Best (Chief Operations Officer) Nerissa Shaw (Clinical Lead) Deborah Xavier (Head of Fundraising) **Principal Bankers** CAF Bank Limited Kings Hill West Malling Kent ME19 4TA **Auditors** Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Bristol BS48 1UR
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## **SWEDA LTD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2024**
The Report of the Trustees should be read in conjunction with Annual Review & Impact Report as above. Further information can be found on the SWEDA’s website (swedauk.org.uk). Reference and administrative information set out on pages 1 and 2 form part of this Report. The financial statements comply with current statutory requirements, the Articles of Association, and the Statement of Recommended Practice by Charities: SORP, applicable to charities preparing their accounts in accordance with FRS102 (issued in October 2019).
## Objectives, activities & achievements
The purposes of the charity as set out in the schedule to the Articles of Association dated 19th December 2003 (as amended on November 2022), are to promote any charitable purposes for the benefit of the community in the county of Somerset and surrounding areas and in particular the advancement of education, the protection of health and the relief of poverty, distress and sickness and in the furtherance of the said purpose, but not further or otherwise, to provide services, facilities and training for the relief of those suffering from or affected by eating disorders.
Our charity is here for children and adults and their carers and families with eating disorders within Somerset and across the surrounding areas across the South & West of England. We listen without judgement and work with clients to find the most suitable tailored support that is right for them. We empower them to take control of their own recovery and their life. We also provide expert training for healthcare and education professionals to improve early intervention and holistic support. SWEDA is known for our pioneering approach over three decades, delivering excellence in everything we do.
The last year has seen continued income growth, putting SWEDA in a strong position to expand services to meet increased demand for our support. Whilst we are expanding services rapidly, we are putting very careful thought into how to do this strategically, sustainably and effectively. We are focused on how we can better meet the needs of our clients enabling us to support more individuals each year. An enabler to supporting this includes the provision of a large building to provide services from, allowing us to establish a ‘Centre of Excellence’ for eating disorders in the South West. This may include looking towards ownership which may provide the added value of providing a good investment opportunity alongside a solid foundation for the charity's long-term stability and future growth. Later in this report, we outline new reserve designations supports the realisation of our strategic goals over the next 3-5 years.
We continue to see an increase in the complexity of mental health challenges experienced by people with eating disorders and an increase in the number of people turning to us for support. The year we gave 1-2-1 support to 1,015 individual clients, a 32% increase on the previous year. There was also a further increase in the delivery of therapeutic sessions which totaled 4789, a 27% increase. Our children and young people’s services continue to grow; during the year we delivered 908 therapeutic sessions to 174 children and young people, showing an 8% increase in session on last year and a 33% increase in the number of clients. The average cost of support per client represents significant value at just over £1000.
Our Somerset NHS contract, secured through the Open Mental Health alliance of VCSE organisations, was renewed for a further 3 + 2 years, providing vital stability within our mainstay area of Somerset. This renewal ensures we can continue to deliver consistent, high-quality services in the region, reinforcing our long-term presence and impact. Our partnership with the NHS continues to strengthen across other regions as well. We
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## **SWEDA LTD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2024**
recently added four new staff members to support our contract in Bristol, North Somerset, and South Gloucestershire (BNSSG), now entering its second year and over the summer, successfully tendered and won for a two-year eating disorders contract with Oxford Health in Oxfordshire, officially commencing our collaboration in January 2024.
Recognising the importance of diversifying beyond NHS contracts, we also expanded our counselling services in the BNSSG area, which not only complement our NHS offering, but also widens the range of support available to the local community. Furthermore, we introduced a new nutritional service, enhancing our comprehensive care package and expanding the holistic support we offer to individuals on their recovery journeys.
All of our services continue to offer a combination of virtual and in-person options, giving our clients greater choice and flexibility. This approach allows us to extend our reach across the entire region, supporting individuals who may be unable to travel to our physical locations. Our data, independently verified by the Children’s Outcome Research Consortium (CORC), demonstrates exceptional outcomes as detailed below:
|**For adults**|**For children and young people**|
|---|---|
|87% of our clients reported an improvement in|87% reported an improvement in their eating|
|their disorders eating thoughts and behaviours,|disorders thoughts and behaviours,|
|83% reported less psychological distress,|86% + reported less psychological distress*|
|87.7% reported improved wellbeing.|67% reported improved wellbeing.|
This is an improvement on all measures to last years’ data, *except for wellbeing in children and young people which has dropped from 73%.
This year we have refined our values to make sure they can more easily and powerfully sit at the heart of our charity as we look to the future of SWEDA. We moved from nine to four values:
1. Compassionate (to our clients and each other)
2. Hopeful (we are pro-recovery, believing that recovery is always possible)
3. Ambitious (we want the best for our clients and for ourselves)
4. Accountable (holding ourselves and the people we work with to a high standard)
As we continued to grow, we were mindful of our evolving brand identity and the regions we now serve across the South and West. To reflect this broader reach, we considered a name change but didn't want to lose the recognition tied to SWEDA, which originally stood for Somerset and Wessex Eating Disorder Association. Due to Charity Commission regulations, we were unable to keep the 'Association' part in our formal name, and now registered as SWEDA Ltd. Publicly we remain known as SWEDA, with the tagline 'Supporting people with eating disorders across the South & West.' Instead of opting for a complete rebrand, which could have diluted our established recognition, we chose a brand refresh with a stronger, more impactful logo to enhance our presence and better communicate our wider reach, all while staying true to our core values. This refreshed visual identity was strategically launched during Eating Disorders Awareness Week in February 2024, maximising our visibility and ensuring greater outreach at a pivotal time.
Over the past year SWEDA has experienced a huge amount of expansion in the number of clients we have supported and as a charity we continue to adapt to the needs of our clients offering the best possible outcome for them.
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**SWEDA LTD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2024**
## **Public benefit statement**
The Trustees confirm that they have paid due regard to the Charity Commission’s general guidance on public benefit under the Charities Act 2011. In particular, they considered how planned activities will contribute to the aims and objectives of the charity and are satisfied that all activities continue to be related to its purpose as set out in the governing document. The charity exists to empower children and adults with eating disorders to take control of their recovery and our public benefit is best understood through the words of those individuals themselves; we have shared as much as possible within this report.
## **Contributions made by volunteers**
During the year we relied on the generous support of 30 volunteers, many of whom have lived experience of an eating disorder. We are so thankful for the time, enthusiasm, thought and expertise given by every single volunteer. Together, they contributed 8100 hours, valued at £97,200 (based on Real Living wage £12 from Living Wage Foundation). Most of our volunteers work within our counselling service to gain invaluable experience and confidence in working with eating disorders whilst working towards their Level 4 & 5 counselling qualifications.
We could not run our counselling service without these specialist volunteers who all receive our rigorous training, clinical supervision, ongoing support and continued professional development. This year we created new roles within the staff team; Area Lead Oxford, administration, Therapeutic Support Worker Somerset to name a few, and we are so proud that some of the successful applicants started with us as volunteers and brought more lived experience into our incredible team. Our Therapeutic Services Manager, who joined last year, plays a pivotal role in shaping the future of our charity, with a key focus on developing and managing our expanding volunteer team.
Volunteers bring huge value to our work and we could not make the difference we do without their time, passion and dedication.
“I have learned so much from the training at SWEDA. I found it both informative and self-reflective. I came away with a wealth of new knowledge about eating disorders and already put some of the skills learned into practice”.
SWEDA Counselling Volunteer
In addition, we have grown our trustees significantly this year both in terms of numbers, experience and diversity. We continue to look to grow our trustees further and look at how we can gain the expertise we will need as a growing organization in the future.
Also, we are also extremely grateful for the voluntary contributions from staff within companies throughout the region. We continue to receive pro-bono support from corporate partners who support us with a range of services including legal, advice, and use of accommodation. As we work towards next year, we are prioritising the expansion of voluntary opportunities including supporting the all-important admin for our busy charity and providing support to our growing fundraising team. Our thanks also go to our Trustees, who give a considerable amount of time to their voluntary roles on the Board; they continue to steer SWEDA with their expertise, unique insight and commitment to this charity.
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## **SWEDA LTD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2024**
A very special thank you goes to our SWEDA clients who allow us to share their stories or quotes on our website, in our fundraising appeals or on social media. This contribution takes great strength and sharing the positive impact that SWEDA makes to their lives helps our supporters see the difference that their donation will have. These stories also help SWEDA reach individuals who may desperately need support.
## Financial review
## **Results for the year**
## **Income**
Total income for the year was £1.02m (2022/23: £629k) equating to 62% growth. Income from donations and grants was £138k (2022/23: £115k), income from charitable activities (primarily new contracts and service delivery grants) was £866k (2022/23: £510k) and investment income was £18k (2022/23: £3k). We are delighted that our carefully devised strategic plan has brought significant success in this last year with increased income overall and aim to see results in income generation from investment in fundraising in 2024/25.
## **Expenditure**
Total expenditure for the year was £827k (2022/23: £570k), a 45% increase on the previous year. This resulted in an operational surplus of £195k (2022/23: £59k surplus).
In line with our fundraising growth plan, expenditure on raising funds was £75k (2022/23: £37k). Expenditure on charitable activities this year reflects sound progress in growing the service to meet unprecedented demand and a consequent increase in income from charitable activities. High demand for our support is being managed through steady growth in service capacity alongside careful investment in our infrastructure to ensure a solid foundation from which to manage next year’s planned staff and volunteer intake. This creates a slight lag between generating income and spending the funds and the Board is comfortable that a 45% increase in expenditure against a 62% increase in income this year represents a necessary first step to managing sustainable growth.
During the year, we utilised £139k of our designated funds out of a total allocation of £190k. These funds were critical in advancing several of our key initiatives. The entirety of the service provision fund was directed toward our low-cost counseling service, ensuring accessible support for our community. Additionally, part of the designated funds supported the beginning of our fundraising expansion, where we are actively exploring diverse income streams to strengthen our financial resilience. The digital budget saw a smaller expenditure, with £9k used; due to delays in the project launch, the remaining £21k will be carried forward into next year. Lastly, the premises budget remains earmarked, as detailed in other sections of this report, to support a sustainable long-term solution for our facilities. This approach to designated funds underscores our commitment to strategic growth and prudent resource allocation.
## **Funds**
At 31 March 2024, total funds held amounted to: £1,126k (2022/23: £931K)
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## **SWEDA LTD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2024**
Of these, restricted funds were: £182k (2022/23: £264K)
Designated funds were: £400k (2022/23: £190K)
The charity’s unrestricted reserves were:
£944k (2022/23: £667k) which represents 9 months of budgeted expenditure against a policy of 9-12 months (representing £975K - £1.3m 24/25 which has been calculated as an average for this purpose). The charity’s unrestricted, uncommitted reserves (free reserves) at the year-end amount to £518,633 (2023: £456,190)
More detail on the purpose of our designated funds can be found below, these amounted to:
- £40k: Service provision (additional: training project, training lead and associated costs)
- £80k: Fundraising development (investment to increase and diversify the income portfolio)
- £6k: Equality diversity and inclusion (implementation of plans developed from the audit)
- £100k: Digital, Data and IT (investment in line with planned growth and in line with the size of organisation, including employment of a manager to lead the project, development/upgrade of our database, digital and IT system)
- £174k: Premises (continued accumulation of funds towards our long-term plan for purpose built/larger premises)
Although we have been successful with funding, we are mindful of sustainable growth. Therefore, we are planning for steady manageable growth, led by investment in infrastructure followed by investment in staffing and additional service offering, some of which will cross financial years. 2024/25 financial accounts will see further increases in expenditure as we make these investments, ultimately decreasing our reserves holding and the overall number of weeks we hold.
## **Investment Policy**
SWEDA's Trustees believe that the most appropriate and ethical policy for investing funds during these uncertain times is through a number of specialised bank accounts in the "Not for Profit" sector. Although interest rates have increased, which shows in our interest payments during most of this period, we did experience an increase towards the last two months of this reporting period, our decision is principally driven by the need to have access to short-term funds in cash, and to ensure the security of cash reserves and will be reviewed if the increase rate continues to rise during the next reporting period.
During the year, SWEDA's Trustees updated their investment policy while continuing to use the main accounts within the 'Not for Profit' sector. This strategy is driven by the need for short-term liquidity, ensuring easy access to cash when required. Trustees have also leveraged recent advancements in funding platforms that offer enhanced flexibility and security. These platforms feature sophisticated risk assessment tools, allowing for thorough analysis to protect the charity’s funds against market volatility. Although rising interest rates have resulted in higher interest payments throughout much of the period, we saw increased earnings during the reporting period. The sub-finance committee is closely monitoring this progress to ensure our investments remain aligned with the charity's financial goals.
**7**
## **SWEDA LTD**
## **TRUSTEES’ ANNUAL REPORT YEAR ENDED 31 MARCH 2024**
## **Reserves and reserves policy**
The Board of Trustees annually reviews reserves to ensure that there are sufficient funds to maintain the charity’s financial stability and development. With the current uncertainty within charitable funding and the dynamic climate in which SWEDA is operating, and the uncertainty with some NHS contracts the Trustees’ unrestricted reserves policy is to aim to hold unrestricted reserves of 9-12 months’ expenditure. As is common practice across the charity sector, and in order to segregate unrestricted funds which are not easily realisable from those which are ‘free’ reserves, the Trustees have also established designated funds, representing specific funds which are to be used by the charity, for future ongoing developments. All of which is extremely key within the current climate of huge demand for eating disorder services with little or no signs of reducing anytime soon.
We should emphasis eating disorder recovery is often a prolonged journey, with no quick fixes, particularly for those who have lived with the condition for many years. This at times demands consistent, longer-term support from the charity, which underscores the necessity for having unrestricted reserves at a value of 9-12 months of expenditure. These funds ensure that we can remain committed to our clients throughout their recovery process, without disruption. Additionally, maintaining this financial cushion is vital to safeguarding the charity’s ability to either see clients through their treatment or, in the worst-case scenario of closure, to implement alternative plans that continue to support them through trusted partners. This is not just about operational sustainability but fulfilling our responsibility to those relying on us for their recovery ensuring that we not only meet current needs but also position ourselves for future growth, leveraging available funds to explore new opportunities that can enhance our services and extend our reach to more individuals in need.
This addition emphasises the importance of securing financial resources to support future initiatives and growth while maintaining the organisation’s core mission.
As detailed above, free reserves held at year end were £944k (2022/23: £667k) equating to 9 months of expenditure which is in line with the charity’s policy of holding between 9-12 months of expenditure (representing £1.3m expenditure budgeted for 24/25).
In order to grow service capacity in 2024/25 and beyond, investment in fundraising, infrastructure and other activities is needed as a prerequisite. Alongside this, there is a need for sensible, incremental long-term growth in funds to kick start our premises fundraising. Therefore, the proportion of designated funds increased during the year to facilitate growth in service capacity, ahead of planned increased expenditure in the following 12 months. The increase in designated funds together with the increase in planned expenditure in 2024/25 has therefore mean that free reserves dipped below minimum policy level at year end. This is planned to be temporary.
To this end, funds have been designated for the following purposes:
## **1. Service Provision**
We remain committed to investing in the growth of our low-cost counselling service, a vital component of our offerings that has provided crucial support within Somerset and complements NHS provisions. Our goal is to expand this service into new areas to increase accessibility and community impact. Additionally, we are dedicating resources to specialised training and are planning to create a new post to support and facilitate this
**8**
**SWEDA LTD**
## **TRUSTEES’ ANNUAL REPORT YEAR ENDED 31 MARCH 2024**
growth, ensuring our team is equipped to deliver excellence as we scale our impact, ensuring a sustainable and continued high-quality service delivery.
## **2. Fundraising and strategic growth**
Fundraising remains a key element of our strategic plan moving forward. In March 2023, we initiated significant investment in this area by appointing a new Head of Fundraising and Communications, with a vision to build a dedicated team. This commitment continued with the addition of a Fundraising Assistant focused on social media and providing support to the Head of Fundraising. Our efforts to strengthen this area are ongoing, as highlighted in the fundraising section of this report. We have also begun updating our website and enhancing our social media presence, with continued investment to support these initiatives and drive our fundraising goals.
## **3. Equality, Diversity & Inclusion**
In 2023/24, we conducted a detailed staff audit to establish our priorities for Equality, Diversity, and Inclusion (EDI). Although balancing this work with other pressing demands was challenging, we completed the audit and received excellent feedback from participants. Based on the findings, it was agreed that our focus would be on Race and Racism, with plans for targeted workshops for Trustees and staff. This initiative reaffirms our commitment to EDI as a key component of our long-term strategy, demonstrating our dedication to creating an inclusive, supportive environment for everyone.
## **4. Investment in digital and bespoke database systems**
Long-term investment in digital infrastructure remains a cornerstone of SWEDA’s strategy, aligning with our commitment to operational excellence and service innovation. Since implementing a paperless system in 2016, SWEDA has consistently embraced cutting-edge technology. Our decision to develop a bespoke system, well before the pandemic, was driven by our visionary understanding of its potential. This strategic foresight paid dividends when COVID-19 hit, enabling us to seamlessly adapt and continue providing uninterrupted support to vulnerable communities at a time of critical need. The infrastructure allowed us to pivot quickly, whilst also solidifying relationships with key stakeholders by reinforcing their confidence in our ability to deliver essential services in the most challenging circumstances.
However, the current system is now eight years old and requires a comprehensive overhaul over the next two years to support planned increased service capacity and increase efficiency through streamlined processes. We plan to invest in a complete redesign to support our strategic goals and, in tandem will integrate more robust monitoring and evaluation tools. This will ensure every interaction is carefully tracked, provide a better understanding of the difference SWEDA makes, allow us to powerfully utilise data insight and ensure our team’s time is optimised. By continuing to invest in digital solutions, we can future proof our charity and maintain our reputation as an exemplar of quality and innovation in the field of eating disorder support.
## **5. Plans for new premises to support expansion**
As part of our long-term strategic vision, SWEDA is considering the right approach to purchase and own our own premises. While our current home in The Coach House has served us well, we have encountered considerable challenges in working within an old building, particularly with the limited number of private counselling and therapy spaces, and issues such as temperature control, which is crucial for making people with anorexia feel comfortable. It has become increasingly clear that larger, newer, and more versatile premises will be essential within the next five years. It has become increasingly clear that The Coach House is not fit for purpose and that a larger, newer and versatile premises will be essential within the next 5 years.
**9**
## **SWEDA LTD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2024**
In our strategic premises paper presented to the Board back in November 2022, we outlined short, medium, and long-term plans. The short-term strategy focused on utilising shared space with other organisations, acknowledging the growing scarcity of suitable premises. We continue to explore more permanent solutions and with medium-term plans now in place—having recently secured additional space for the next five years— we have given ourselves ample time to explore and implement our long-term vision.
Our ultimate aim is to occupy a premises that enables effective support of clients over the long-term to achieve this SWEDA intends to develop a “Centre of Excellence for Eating Disorders” in the South West. This space would serve as a hub for knowledge-sharing, training, and support across the region and beyond, enabling us to support more adults and children in an environment better suited to their needs. It would also enhance our service offerings within modern, adaptable spaces designed for therapy, training, and community engagement.
This ambition aligns with our goal of delivering the highest standards of care and innovation, while ensuring the sustainability of our services for the future. As we are still in the early stages of planning, we recognise that this will require capital investment. This will involve a future capital appeal. In addition, SWEDA has already begun to designate funds toward this objective. Driving this initiative is a desire meet demand in an adaptive, sustainable and responsible way.
## **Fundraising**
Fundraising is an essential pillar of our organisation’s strategic plan. Relying too heavily on our NHS contracts creates vulnerabilities to the sudden removal of NHS funding we have seen in the past. We cannot afford this uncertainty, and we need to increase the diversity of our income portfolio to enhance resilience and facilitate long-term growth. Diversifying into new areas of fundraising will take time and requires investment, but it is critical for enabling SWEDA to secure the funds necessary to sustain momentum in expanding our capacity.
At the beginning of the financial year, we recruited a new Head of Fundraising to spearhead this initiative and build a dedicated team. Throughout the year, she conducted a thorough audit of our existing fundraising practices and developed a comprehensive strategy, which has been approved by the Board. Recognising the challenging fundraising environment, we are employing a test-and-learn approach, utilising insights to continually refine our future plans.
In compliance with Section 13 of the Charities (Protection and Social Investment) Act 2016, we commit to transparency in our fundraising activities. We have engaged professional fundraisers where appropriate and have ensured that they adhere to established fundraising standards and regulations. Furthermore, we are actively monitoring our fundraising efforts, documenting any complaints received, and taking necessary actions to address concerns, particularly regarding the protection of vulnerable individuals from intrusive or persistent fundraising practices.
We have allocated funds to enable the charity to build a small team focused on increasing income from individual giving, community support, corporate partnerships, trusts, foundations, and legacy fundraising. To effectively implement this strategy, we also recognise the need for further investment in marketing and communications to elevate our profile as a charity across the South and West region. This multi-faceted
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## **SWEDA LTD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2024**
approach aims to strengthen our fundraising efforts while ensuring adherence to legal standards, fostering trust with our supporters, and maintaining our commitment to ethical practices.
## **Structure, governance & management**
## **Legal structure**
SWEDA was incorporated as a company limited by guarantee on 6th June 1996 and registered as a charity in England and Wales on 27th June 1996. The governing document is the Articles of Association, which were updated in line with the Companies Act 2006. The Board of Trustees comprises the Directors of the company who are also the members of SWEDA. A policy has been established, whereby Trustees and Senior Managers of SWEDA automatically become members of the Charity upon appointment. Such membership lapses as soon as individuals cease to be Trustees or Senior Managers of the charity. The only members during the year were the Trustees & Senior Managers. The total number of Member guarantees at 31 March 2024 was Five (2023: Six)
## **Governance**
The Trustees who have served during the year and those appointed before the date of this report are listed on page 1-2. No member of the Board or Committees receives any renumeration for their services. The Board met on-line five times during the year (2023/24: five). The sub-committee structure is working well reporting into the Board prior to the quarterly meetings these include; Clinical, Quality & Governance, Finance & Fundraising and Remuneration/HR Sub-Committees. Each Trustee is a member of at least one sub-committee which meet before and report to the next Board Meeting. The members of these committees are listed on page 1-2.
The Risk Register has been updated and freelance Finance Manager appointed to ensure Trustees have easyto understand data and have a dashboard of critical information to hand.
Our Chairperson Sarah Brennan resigned during this period. Barbara Clift had intended to take over but was compelled to stand down due to family commitments. Karen Prosser became interim chair on 18/05/23 and was elected as permanent chair at the AGM on 23/11/2023. As anticipated Richard Cussell, a long-standing member of the Board of Trustees retired in July 2023 after three plus terms. In January 2024 Sani Norweg resign due to family and work commitments. We assessed the makeup of the Board and recruited 2 new Trustees, Edward Day and Rebecca Partos, who were both ratified on to the Board in November. Additionally in May 2024 we welcomed Ian Creek and Hannah Lewis as Trustees. We are still looking to address the diversity and inclusion of the Board, to ensure our leadership represents the diverse group of people we support. We are committed to fostering a diverse and inclusive Board that reflects the rich tapestry of our community and will actively encourage applications from individuals from under-represented groups, including those from the global majority.
## **Risk**
SWEDA is committed to proactive and comprehensive risk management, crucial for maintaining our organisational integrity, quality of care, and sustainable growth. Key risk areas are regularly reviewed and managed by relevant sub-committees, which is then reported to the main Board of Trustees. The Quality and Governance Sub-Committee manage and oversee the organisation-wide risk register and ensures that all identified risks are managed cohesively and strategically.
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## **SWEDA LTD**
## **TRUSTEES’ ANNUAL REPORT YEAR ENDED 31 MARCH 2024**
The primary risk areas are as follows:
1. **Quality & Governance**
- Ensuring high standards of quality and governance is essential to our mission. The Quality and Governance Sub-Committee monitors risks related to policy adherence, service quality, and governance standards, maintaining compliance with regulatory requirements. This oversight helps SWEDA continue to deliver safe and effective care while meeting all statutory and ethical obligations.
## 2. **Finance & Income Generation**
Financial stability is fundamental to SWEDA’s operations. The Finance and Income Generation SubCommittee addresses risks associated with funding streams, reserve management (targeting 9-12 months), and budgetary controls. A diversified income approach, supported by new fundraising initiatives, safeguards against potential funding gaps, enabling us to sustain and expand essential services.
3. **Clinical**
Managing clinical risks is critical to maintaining SWEDA’s reputation for excellent care. The Clinical Sub-Committee oversees risks related to client safety, clinical procedures, and staff training to ensure we deliver safe, effective, and compassionate support. By continuously reviewing and updating clinical policies, this committee supports SWEDA’s commitment to the highest standards of care.
## 4. **HR and Remuneration**
- Our HR and Remuneration Sub-Committee mitigates risks associated with recruitment, staff retention, and team welfare. In a challenging employment market, this committee focuses on effective recruitment strategies, fair remuneration, and staff development initiatives to ensure we maintain a skilled, motivated, and resilient team.
Each risk is actively managed and reviewed by the respective sub-committees, with regular updates provided to the Quality and Governance Sub-Committee. This structure ensures SWEDA remains agile, prepared for emerging challenges, and committed to delivering the highest standards of care and operational excellence.
## **Recruitment & appointment of Trustees**
The Board of Trustees regularly reviews the skill sets of its members, particularly when a vacancy arises. Vacancies are advertised on our website, across relevant channels, and on external Trustee platforms. The Chair oversees the appointment process, and once new Trustees are appointed by the Board, they are inducted by the Chief Operating Officer and other key staff. Trustees receive detailed information regarding their legal responsibilities and expectations. Additionally, they are encouraged to attend Trustee training events, which are funded by SWEDA, on an ongoing basis.
Potential trustees are approved and co-opted to the board. They may join throughout the year, and their appointments are then confirmed by the Members during the Annual General Meeting. No external body holds the authority to appoint Trustees. The term of service for Trustees is three years, with a maximum of three consecutive terms.
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**SWEDA LTD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2024**
## **Management**
The Board of Trustees is legally responsible for the strategic direction of the charity including approving the annual plan and budget. The Board monitors risk and progress against these plans and budgets and it makes decisions about the appointment of Trustees and senior staff. The appointment of Karen Prosser as chair in November 2023 also reflects her focus to continue to lead and develop the organisation as it grows the cross across the South and West. Day-to-day operation of the organisation is delegated to the Chief Executive, Paula Blight, and the Senior Leadership Team.
## **Renumeration policy**
SWEDA aims to ensure that all staff are paid appropriately and fairly according to the nature of the work and their experience, knowledge, and skills relevant to their role. The charity is committed to principles ensuring that pay and conditions of employment do not discriminate unlawfully and are free from bias. In determining the salary for the Chief Executive and Senior Management Team, responsibility is delegated to the Remuneration Committee, which seeks to pay a fair salary to attract and retain skilled and expert senior leaders for the organisation.
## **Plans for future periods**
## **5-year strategy**
This year saw the third year of our five-year strategy. We undertook a strategic review in 2020, involving our staff, volunteers, clients, and Trustees. We sought to establish a clear purpose for SWEDA for the next five years and running alongside this is our management plan. Our new strategy has created four key areas as shown below:
1. Engage, enable, and empower all those affected by eating disorders in our area of service provision
- A. Continue to improve the quality and effectiveness of our services.
- B. Ensure we fully understand the demographic breakdown and the different needs of our communities.
- C. Ensure our staff and volunteers have the expertise and understanding to effectively respond to these needs.
- D. Develop monitoring and outcomes data to evidence our impact on our clients lives and wellbeing.
2. Increase our response and provision for young people experiencing eating disorders or emerging eating problems
- A. Further develop the provision that we have begun to offer for eating disorder treatment and support for young people in tandem with carers or parents.
- B. Become the experts and lead the way in eating disorders provision for young people within our area.
- C. Provide services for young people that address early intervention and precursors to eating disorders. D. Develop relationships with key service providers for young people to ensure no-one is left behind including those moving into adulthood.
3. Address the diverse causes and presentations of eating disorders amongst different groups and communities
- A. Increase the understanding within SWEDA of the range of factors which may trigger and sustain eating problems.
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**SWEDA LTD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2024**
- B. Involve and engage with all genders, ethnicities, and ages across all aspects of our organisation.
- C. Increase our understanding of how eating problems may manifest differently in different groups and communities.
- D. Develop our services to address the needs we have identified.
4. Develop strategic alliances to secure sustainable funding and increase the range and quantity of effective eating disorder support
- A. Explore national relationships with eating disorder organisations to share learning and effective responses.
- B. Explore regional relationships with the wider VCSE with a view to build effective alliances.
- C. Build effective relationships with local and regional statutory health commissioning bodies to secure service provision.
- **D.** Explore the potential of research partnerships with universities and others with the purpose of increasing the quantity and quality of services and to contribute to wider knowledge about eating disorders.
## **Connection to a wider network**
Working in partnership and collaboration are integral to SWEDA’s approach and how we tackled the scale of need amongst people affected by eating disorders. We are active across three Integrated Care Boards (ICB) where we work, these being Somerset, BNSSG and Oxfordshire and are working with all but one via VCSE alliances. SWEDA is also an active member of the Somerset group of charities in an influence in policy for health and well-being across Somerset. SWEDA remains an active member of REDCAN working at a strategic level to better serve eating disorders across the UK. As a mainstay organisation within the GSK Impact Awards network, it enables access to twice a year leadership training and networking with The Kings Fund which has led to other high profile network working opportunities throughout the year.
## **Statement of Trustees’ responsibilities**
The trustees (who are also directors of SWEDA Ltd for the purposes of company law) are responsible for preparing the Trustees’ Report (incorporating the strategic report and directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom 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 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;
- observe the methods and principles in the Charities SORP;
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
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**SWEDA LTD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2024**
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 safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company’s auditors are unaware; and
- the trustees have taken all steps that they ought to make themselves aware of that information.
## **Approved by order of the Board of Trustees on ...............................and signed on behalf by**
**...........................………………… (Karen Prosser, Chairperson)**
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## **SWEDA LTD**
## **INDEPENDENT AUDITOR’S REPORT**
## **YEAR ENDED 31 MARCH 2024**
## **Independent auditor’s report to the members of SWEDA Ltd.**
## **Opinion**
We have audited the financial statements of SWEDA Ltd (the “Charity”) for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
- give a true and fair view of the state of the Charity’s affairs as at 31 March 2024 and of its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted out audit in accordance with international Standards in Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the 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 directors 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 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.
**16**
## **SWEDA LTD**
## **INDEPENDENT AUDITOR’S REPORT**
## **YEAR ENDED 31 MARCH 2024**
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 the fact.
We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies 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 law requirements.
## **Matters on which we are required to report by exception**
In the light of our 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 in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us;
- the financial statements are not in agreement with the accounting records and returns;
- certain disclosures of trustees’ remuneration specified by law are not made; or
- we have not obtained all the information and explanations necessary for the purposes of 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’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.
## **Responsibilities of trustees**
As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they 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 Charity’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 Charity or to cease operations, or have no realistic alternative but to do so.
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## **SWEDA LTD**
## **INDEPENDENT AUDITOR’S REPORT**
## **YEAR ENDED 31 MARCH 2024**
## **Auditor’s responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
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:
- we identified the laws and regulations applicable to the charity through discussions with those charged with governance and other management, and from our knowledge and experience of the sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements of the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, pensions, environmental and health and safety legislation; and
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, inspecting legal correspondence and remaining alert during the audit for any indications of non-compliance.
Our audit procedures in relation to fraud included but were not limited to:
- making enquiries of those charged with governance and other management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
- discussing amongst the engagement team the risks of fraud;
- gaining an understanding of the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;
- testing journal entries to identify unusual transactions;
- assessing whether judgements and assumptions made in determining the accounting estimates set out in the accounting policies were indicative of potential bias; and
- investigating the rationale behind significant or unusual transactions.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditors/audit-assurance-ethics/auditors-responsibilities-for-theaudit. This description forms part of our auditor’s report.
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## **SWEDA LTD**
## **INDEPENDENT AUDITOR’S REPORT**
## **YEAR ENDED 31 MARCH 2024**
## **Use of our report**
This report is made solely to the Charity’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charity’s members those matters we are required to state in them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.
## **Joshua Kingston ACA (Senior Statutory Auditor)**
For and on behalf of Burton Sweet Limited Statutory Auditor The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR
Date: ………………………………………………………..
**19**
## **SWEDA LTD**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCLUDing INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31 MARCH 2024**
|**Note**
**Income from:**
Donations and grants
**2**
Charitable activities
**3**
Investment income
**Total income**
**Expenditure on:**
Raising funds
**4**
Charitable activities
**5**
**Total expenditure**
**7**
Prior period adjustments
**18**
**Total funds at start of year (Restated)**
**13**
**Total funds at end of year**
**13**
**Total funds at the start of the year (as**
**previously stated)**
**Net income/ (expenditure) and net movement**
**in funds**|**Unrestricted**
**Funds**
**£**
55,573
865,641
17,905|**Restricted**
**Funds**
**£**
82,784
-
-|**Total Funds**
**2024**
**£**
138,357
865,641
17,905|**Total Funds**
**2023**
**£**
**Restated**
115,440
510,062
3,491|
|---|---|---|---|---|
||939,119|82,784|1,021,903|628,993|
||74,840
588,022|-
164,041|74,840
752,063|37,145
533,172|
||662,862|164,041|826,903|570,317|
||276,257
636,255
(31,000)|(81,257)
-
110,495|195,000
636,255
79,495|58,676
498,084
374,006|
||667,255|263,511|930,766|872,090|
||943,512|182,254|1,125,766|930,766|
The charity has no recognised gains or losses other than the results for the year as set out above.
All of the activities of the charity are classed as continuing.
**See note 9 for fund-accounting comparative figures. The notes on pages 23 to 33 form part of these financial statements.**
20
## **SWEDA LTD**
## **BALANCE SHEET**
## **AS AT 31 MARCH 2024**
||||
|---|---|---|
|**AS AT 31 MARCH 2024**|**Company number: 03208772**||
|**Note**
**Fixed assets**
Tangible assets
**10**
**Current assets**
Debtors
**11**
Short-term investments
Cash at bank and in hand
**Liabilities**
Creditors: amounts falling
**12**
due within one year
**Net current assets**
**Net assets**
**Funds**
Restricted funds
**14**
Unrestricted funds
General funds
**14**
Designated funds
**14**|**2024**
**£**
24,879
24,879
190,783
943,432
269,522
1,403,737
(302,850)
1,100,887
1,125,766
182,254
543,512
400,000
1,125,766|**2023**
**£**
**Restated**
21,065|
|||21,065
302,734
-
902,400|
|||1,205,134
(295,433)|
|||909,701|
|||930,766|
|||263,511
477,255
190,000|
|||930,766|
The accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies' regime and in accordance with FRS102 SORP.
These financial statements were approved by the Trustees on …..................................... , and are signed on their behalf by:
….............................................. Karen Prosser - Interim Chair
…........................................ Sarah Hall - Trustee
**The notes on pages 23 to 33 form part of these financial statements.**
21
## **SWEDA LTD**
## **STATEMENT OF CASH FLOWS**
## **YEAR ENDED 31 MARCH 2024**
|**Note**
**Net cash inflow from operating activities**
**16**
**Non-operational cash flows:**
Payments for tangible fixed assets
Investment income
**Net cash inflow for the year**
**17**|**2024**
**£**
304,601
(11,952)
17,905|**2023**
**£**
310,647
(18,171)
3,491|
|---|---|---|
||5,953|(14,680)|
||310,554|295,967|
## **Cashflow Restrictions**
Charity law prohibits the use of net cash inflows of any endowed or other restricted fund to offset net cash outflows on any fund outside its own objects, except on special authority. In practice, this restriction has not had any effect on cash flows for the year.
**The notes on pages 23 to 33 form part of these financial statements.**
22
## **SWEDA LTD**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2024**
## **1 Accounting policies**
## **Basis of preparation**
The financial statements have been prepared in accordance with the historical cost convention (except where otherwise stated in the accounting policy note) and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), and the Companies Act 2006.
SWEDA Ltd meets the definition of a public entity under FRS102.
The Trustees have considered the financial position of the organisation and believe that it is currently a going concern.
## **Income**
Income from donations are recognised when these are receivable, except as follows:
I. When donors specify that donations given to the charity must be used in future accounting periods, the income is deferred until those periods; II. When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre-condition have been met.
Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as a restricted.
Investment income is included on a receivable basis.
## **Expenditure**
Expenditure is recognised on an accruals basis in the period in which it is incurred. Expenditure includes attributable VAT which cannot be recovered.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity. Governance costs are included within support costs.
## **Allocation and apportionment costs**
Certain expenditure is directly attributable to specific activities and this has been included in those cost categories. Other costs, which are attributable to more than one category, are apportioned across cost categories on the basis of an assessment of workload carried out from time to time. Overhead support costs have been apportioned between charitable activity costs and raising funds costs on a basis consistent with the use of resources.
## **Pension**
The charity contributes to defined contribution pension schemes. Contribution payable to the charity's pension schemes are charged to the Statement of Financial Activities in the period to which they relate.
23
## **SWEDA LTD**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2024**
## **1 Accounting policies (** _**continued**_ **)**
## **Tangible fixed assets**
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible asset into its intended working condition should be included in the measurement cost. Capital items with purchase price of more than £1,000 are included within fixed assets.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.
Depreciation is provided on the following basis: Furniture and fittings - 15% reducing balance Computer equipment - 33% straight line
## **Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **Creditors**
Creditors and provisions are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable of a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Creditors 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.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted and the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objects at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Designated funds form part of unrestricted funds and have been identified as being for particular purposes by the Trustees. They are not restricted and can be transferred to general funds at any time at the discretion of the Trustees.
Further explanation of the nature and purpose of each fund is included in note 13 of the financial statements.
24
## **SWEDA LTD**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2024**
## **2 Income from: donations and grants**
|Donations from:
Individuals
Trusts and foundations
Corporate donations
Community fundraising
Public funding
Gift aid
**Prior year comparative**
Donations from:
Individuals
Trusts and foundations
Corporate donations
Community fundraising
Public funding
Gift aid|**Unrestricted**
**Funds**
**£**
1,965
48,608
2,062
2,808
-
130|**Restricted**
**Funds**
**£**
-
76,639
-
-
6,145
-|**Total Funds**
**2024**
**£**
1,965
125,247
2,062
2,808
6,145
130|
|---|---|---|---|
||55,573|82,784|138,357|
||**Unrestricted**
**Funds**
**£**
**Restated**
3,183
73,500
2,307
3,424
-
258|**Restricted**
**Funds**
**£**
**Restated**
-
32,768
-
-
-
-|**Total Funds**
**2023**
**£**
**Restated**
3,183
106,268
2,307
3,424
-
258|
||82,672|32,768|115,440|
## **3 Income from: charitable activities**
|Service contracts
Counsellor training
**Prior year comparative**
Service contracts
Counsellor training
**Expenditure on: raising funds**
Staff costs
Fundraising costs
Support costs (Note 6)|**Unrestricted**
**Funds**
**£**
860,870
4,771|**Restricted**
**Funds**
**£**
-
-|**Total Funds**
**2024**
**£**
860,870
4,771|
|---|---|---|---|
||865,641|-|865,641|
||**Unrestricted**
**Funds**
**£**
503,602
6,460|**Restricted**
**Funds**
**£**
-
-|**Total Funds**
**2023**
**£**
503,602
6,460|
||510,062|-|510,062|
||**Unrestricted**
**Funds**
**£**
51,026
5,441
18,373|**Restricted**
**Funds**
**£**
-
-
-|**Total Funds**
**2024**
**£**
51,026
5,441
18,373|
||74,840|-|74,840|
## **4 Expenditure on: raising funds**
25
## **SWEDA LTD**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2024**
## **4 Expenditure on: raising funds (continued)**
## **Prior year comparative**
|**Prior year comparative**||||
|---|---|---|---|
|Staff costs
Fundraising costs
Support costs (Note 6)
**Expenditure on: charitable activities**
Provision of services
**Prior year comparative**
Provision of services
**Support costs**
Staff and volunteer costs
Office costs
Premises costs
Professional costs
Finance costs
Governance costs
**Prior year comparative**
Staff and volunteer costs
Office costs
Premises costs
Professional costs
Finance costs
Governance costs|**Unrestricted**
**Funds**
**£**
29,474
104
7,567|**Restricted**
**Funds**
**£**
-
-
-|**Total Funds**
**2023**
**£**
29,474
104
7,567|
||37,145|-|37,145|
||**Activities**
**undertaken**
**directly**
**£**
567,436|**Support**
**costs**
**Note 6**
**£**
184,627|**Total**
**2024**
**£**
752,063|
||567,436|184,627|752,063|
||**Activities**
**undertaken**
**directly**
**£**
424,552|**Support**
**costs**
**Note 6**
**£**
108,620|**Total**
**2023**
**£**
533,172|
||424,552|108,620|533,172|
||**Raising funds**
**costs**
**£**
14,245
454
1,077
353
983
1,261|**Charitable**
**activities**
**£**
143,151
4,561
10,827
3,551
9,878
12,659|**Total Funds**
**2024**
**£**
157,396
5,015
11,904
3,904
10,861
13,920|
||18,373|184,627|203,000|
||**Raising funds**
**costs**
**£**
6,274
310
210
199
437
137|**Charitable**
**activities**
**£**
90,052
4,452
3,018
2,861
6,274
1,963|**Total Funds**
**2023**
**£**
96,326
4,762
3,228
3,060
6,711
2,100|
||7,567|108,620|116,187|
## **5 Expenditure on: charitable activities**
## **6 Support costs**
26
## **SWEDA LTD**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2024**
## **7 Net income / (expenditure) for the year**
|Independent examiner's fee
Auditor's remuneration
- Audit services
- Accounts preparation
Depreciation
Trustees' remuneration
Reimbursement of Nil Trustees' expenses (2023: Nil)|**2024**
**£**
-
12,300
1,620
6,413
-
-|**2023**
**£**
2,100
-
-
5,309
-
-|
|---|---|---|
## **8 Staff costs and numbers**
|The aggregate payroll costs were:
Wages and salaries
Social security costs
Contribution to defined contribution pension scheme
Subcontracted staff|**2024**
**£**
521,960
41,535
36,680
61,578|**2023**
**£**
361,438
29,041
24,692
71,166|
|---|---|---|
||661,753|486,337|
The average number of persons employed by the company (headcount) during the year was 20 (2023: 16). The average number of persons employed by the company during the year, on a Full-time Equivalents (FTE) basis, was 18 (2023: 13).
No employee received remuneration amounting to more than £60,000 in the current or preceding year.
The key management personnel of the charity is considered to be leadership team. The charity's leadership team includes the CEO, COO, Head of Fundraising and the Clinical Lead. The total amount of employee benefits (including employer pension contributions) received by key management personnel for their services to the charity was £223,058 (2023: £174,414).
27
## **SWEDA LTD**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2024**
## **9 Prior year fund comparatives for the Statement of Financial Activities**
|**Income from:**
Donations and grants
Charitable activities
Investment income
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
**Total expenditure**
**Net income/ (expenditure) and net movement in funds**
Prior period adjustments
**Total funds at start of year (Restated)**
**Total funds at end of year**
**10 Tangible fixed assets**
**Cost**
At 1 April 2023
Additions
Disposals
At 31 March 2024
**Depreciation**
At 1 April 2023
Charge for the year
Eliminated on disposal
At 31 March 2024
**Net Book Value**
At 31 March 2024
At 31 March 2023
**Total funds at the start of the year (as previously**
**stated)**|**Unrestricted**
**Funds**
**£**
**Restated**
82,672
510,062
3,491|**Restricted**
**Funds**
**£**
**Restated**
32,768
-
-|**Total Funds**
**2023**
**£**
**Restated**
115,440
510,062
3,491|
|---|---|---|---|
||596,225|32,768|628,993|
||37,145
378,748|-
154,424|37,145
533,172|
||415,893|154,424|570,317|
||180,332
486,923
-
486,923|(121,656)
11,161
374,006
385,167|58,676
498,084
374,006
872,090|
||667,255|263,511|930,766|
||**Fixtures &**
**fittings**
**£**
11,766
582
(1,487)|**Computer**
**equipment**
**£**
48,373
11,370
(24,576)|**Total**
**£**
60,139
11,952
(26,063)|
||10,861|35,167|46,028|
||4,579
1,023
(717)|34,495
5,390
(23,621)|39,074
6,413
(24,338)|
||4,885|16,264|21,149|
|||||
||5,976|18,903|24,879|
|||||
||7,187|13,878|21,065|
28
## **SWEDA LTD**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2024**
## **11 Debtors**
|Trade debtors
Other debtors
Prepayments and accrued income
**12 Creditors**
Trade creditors
Other creditors
Accruals
Deferred income
_Deferred income reconciliation_
Brought forward deferred income
Realised in the year
Additional income deferred in the year|**2024**
**£**
2,238
366
188,179|**2023**
**£**
**(Restated)**
2,448
-
300,286|
|---|---|---|
||190,783|302,734|
||**2024**
**£**
26,125
6,664
22,061
248,000|**2023**
**£**
6,565
1,789
3,879
283,200|
||302,850|295,433|
||**2024**
**£**
283,200
(215,200)
180,000||
||248,000||
## **13 Movement between funds**
|**Restricted funds**
Children In Need
The National Lottery Community Fund
Prudence Trust
**Unrestricted funds**
General funds
Designated funds
Strategic Development Fund
Premises Review Fund
Digital, Data & IT Fund
Service Provision Fund
Development of Fundraising Fund
Equality, Diversity and Inclusion Fund
**Total funds**|**At**
**1 April**
**2023**
**£**
**Restated**
-
263,511
-|**Income**
**£**
39,139
6,145
37,500|**Expenditure**
**£**
(39,139)
(104,926)
(19,976)|**Transfers**
**£**
-
-
-|**At**
**31 March**
**2024**
**£**
-
164,730
17,524|
|---|---|---|---|---|---|
||263,511|82,784|(164,041)|-|182,254|
||477,255
130,000
30,000
30,000
-
-
-|939,119
-
-
-
-
-
-|(523,862)
(130,000)
-
(9,000)
-
-
-|(349,000)
-
144,000
79,000
40,000
80,000
6,000|543,512
-
174,000
100,000
40,000
80,000
6,000|
||667,255|939,119|(662,862)|-|943,512|
|||||||
||930,766|1,021,903|(826,903)|-|1,125,766|
29
## **SWEDA LTD**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2024**
## **13 Movement between funds (** _**continued**_ **)**
|**Prior year comparative**
**Restricted funds**
Awards For All
Children In Need
The National Lottery Community Fund
Lloyds Bank Foundation
Prudence Trust
**Unrestricted funds**
General funds
Designated funds
IT Fund
Strategic Development Fund
Equipment Fund
Premises Review Fund
Digital Platform Development Fund
Digital, Data & IT Fund
**Total funds**|**At**
**1 April**
**2022**
**£**
**Restated**
3,426
7,735
374,006
-
-|**Income**
**£**
**Restated**
-
22,993
-
2,275
7,500|**Expenditure**
**£**
**Restated**
(3,426)
(30,728)
(110,495)
(2,275)
(7,500)|**Transfers**
**£**
-
-
-
-
-|**At**
**31 March**
**2023**
**£**
**Restated**
-
-
263,511
-
-|
|---|---|---|---|---|---|
||385,167|32,768|(154,424)|-|263,511|
||281,923
40,000
80,000
35,000
30,000
20,000
-|596,225
-
-
-
-
-
-|(415,893)
-
-
-
-
-
-|15,000
(40,000)
50,000
(35,000)
-
(20,000)
30,000|477,255
-
130,000
-
30,000
-
30,000|
||486,923|596,225|(415,893)|-|667,255|
|||||||
||872,090|628,993|(570,317)|-|930,766|
## **Restricted funds**
## **Awards For All**
This fund represents grant awarded by National Lottery Awards for All England to cover the administration costs of the charity.
## **Children In Need**
This fund represents a three year grant received from the Children In Need charity towards running our Children's Project.
## **The National Lottery Community Fund**
This fund represents a five year grant awarded by The National Lottery Community Fund to help run our services.
## **Prudence Trust**
This fund represents grant awarded by Prudence Trust for counselling for young people.
## **Designated funds**
## **IT Fund**
The purpose of the fund is to build an IT fund to pay for replacement computers as life span of a laptop is usually three years. These funds have been fully spent in FY2022/23.
30
## **SWEDA LTD**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2024**
## **13 Movement between funds (** _**continued**_ **)**
## **Strategic Development Fund**
These funds have been set a side under the discretion of the Trustees towards the development of fundraising team and therapeutic services. These funds have been fully spent during FY2023/24.
## **Equipment Fund**
These funds have been set a side under the discretion of the Trustees towards additional equipment required for increased staff & volunteer recruitment as SWEDA grows. These funds have been fully spent in FY2022/23.
## **Premises Review Fund**
These funds have been set a side under the discretion of the Trustees towards to cover the need for additional space. SWEDA has currently outgrown current premises and looking for additional space short-term. Longer-term need to review premises situation as the charity expands, and our current lease expires in October 2025.
## **Digital Platform Development Fund**
The purpose of the fund is to invest and maintain SWEDA's digital systems during growth. These funds have been fully spent in FY2022/23.
## **Digital, Data & IT Fund**
In an era of technological advancements, SWEDA is strategically investing in technology and data solutions to ensure we are equipped to navigate and thrive in an evolving digital landscape. The £53k transfer in the year represents a top up to the fund to ensure that sufficient the designated funds of £74k are set aside by the trustees for future costs.
## **Service provision Fund**
These funds have been set aside under the discretion of the Trustees towards provision of low-cost counselling services.
## **Development of Fundraising Fund**
These funds have been set aside under the discretion of the Trustees towards salary costs of the head of Fundraising who is now in post as well as growth of the fundraising team.
## **Equality, Diversity and Inclusion Fund**
These funds have been set aside under the discretion of the Trustees towards an organisation audit and a review to embed practices within the whole of the organisation on a top-down process.
## **14 Analysis of net assets between funds**
|Tangible fixed assets
Other net current assets
**Prior year comparative**
Tangible fixed assets
Other net current assets|**General**
**Designated**
**Funds**
**Funds**
**£**
**£**
24,879
-
518,633
400,000
543,512
400,000
**General**
**Designated**
**Funds**
**Funds**
**£**
**£**
**(Restated)**
21,065
-
456,190
190,000
477,255
190,000
**Unrestricted Funds**
**Unrestricted Funds**|**General**
**Designated**
**Funds**
**Funds**
**£**
**£**
24,879
-
518,633
400,000
543,512
400,000
**General**
**Designated**
**Funds**
**Funds**
**£**
**£**
**(Restated)**
21,065
-
456,190
190,000
477,255
190,000
**Unrestricted Funds**
**Unrestricted Funds**|**Restricted**
**Funds**
**£**
-
182,254|**Total Funds**
**2024**
**£**
24,879
1,100,887|
|---|---|---|---|---|
||543,512|400,000|182,254|1,125,766|
||||**Restricted**
**Funds**
**£**
**(Restated)**
-
263,511|**Total Funds**
**2023**
**£**
**(Restated)**
21,065
909,701|
||477,255|190,000|263,511|930,766|
31
## **SWEDA LTD**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2024**
## **15 Related party transactions**
There are no related party transactions in the current or prior year apart from those already disclosed throughout the report.
## **16 Reconciliation of net movement in funds to net cash inflow from operating activities**
|Statement of Financial Activities: Net movement in funds
Investment income
Depreciation
Increase in creditors: current liabilities
Decrease in debtors
Profit on disposal of tangible fixed assets
Net cash inflow from operating activities|**2024**
**£**
195,000
(17,905)
6,413
7,417
111,951
1,725|**2023**
**£**
**Restated**
58,676
(3,491)
5,309
123,243
126,910
-|
|---|---|---|
||304,601|310,647|
## **17 Analysis of changes in cash during the year**
|**Analysis of changes in cash during the year**||||
|---|---|---|---|
|Cash at bank and in hand
Short-term investments
Cash at bank and in hand|**2024**
**£**
269,522
943,432|**2023**
**£**
902,400
-|**Change**
**£**
(632,878)
943,432|
||1,212,954
**2023**
**£**
902,400|902,400
**2022**
**£**
606,433|310,554
**Change**
**£**
295,967|
## **18 Prior periods restatement**
The following restatements are required due to errors arising from the delayed recognition of income. The change in treatment affected four grants in the two prior periods:
|**Analysis by net assets**
Tangible assets
Debtors
Cash at bank and in had
Creditors < 1 year
**Total net assets**|**2023**
**As previously**
**stated**
**£**
21,065
8,223
902,400
(295,433)|**Adjustment**
**£**
-
294,511
-
-|**2023**
**Restated**
**amounts**
**£**
21,065
302,734
902,400
(295,433)|
|---|---|---|---|
||636,255|294,511|930,766|
Accrued income is the debtor affected.
32
## **SWEDA LTD**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2024**
## **18 Prior year restatement (continued)**
|**Fund totals at year-end**
Restricted funds
Unrestricted funds
**Income and Expenditure**
Income from donations and grants - restricted
Income from donations and grants - unrestricted
Charitable activity expenditure - restricted
Charitable activity expenditure - unrestricted
**2022 all items**
Income from donations and legacies - restricted
Accrued income (debtor)
Resulting in:
Restricted funds held at 31 March 2022|**2023**
**As previously**
**stated**
**£**
-
(636,255)|**2022**
**adjustment**
**£**
(374,006)
-|**2023**
**adjustment**
**£**
110,495
(31,000)|**2023**
**Restated**
**amounts**
**£**
(263,511)
(667,255)|
|---|---|---|---|---|
||(636,255)|(374,006)|79,495|(930,766)|
|||**2023**
**As previously**
**stated**
**£**
(168,263)
(26,672)
179,424
353,748|**Adjustment**
**£**
135,495
(56,000)
(25,000)
25,000|**2023**
**Restated**
**amounts**
**£**
(32,768)
(82,672)
154,424
378,748|
|||**2022**
**As previously**
**stated**
**£**
(158,004)
287,079
11,161|**Adjustment**
**£**
(374,006)
374,006
374,006|**2022**
**Restated**
**amounts**
**£**
(532,010)
661,085
385,167|
33