Charity Règistration No. 1086020 PROMISE DREAMS TRUSTEES. REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021
PROMISE DREAMS LEGAL AND ADMINISTRATIVE INFORMATION Trustees J Donovan S Bawa S Walker Charlty number 1086020 Independent examlner AGS Actwntants & BuSIsS Advlsors Llmltod Untt1 Gasde Court 2 Casuegale Way DleY DY14RH
PROMISE DREAMS CONTENTS Page Truslag8' ffjport Independent 8xamlnèV5 f8FKYt Slalement of finandal acllvrtles Note8 to the a¢counl8 8-10
PROMISE DREAMS TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 Thè trustees present their report and accounts for the year ended 31 December 2021. Tho accounts have been prepar8d in accordance the arKounting polIeS set out In note 1 to the accounts and comply with th8 Trusl D9ed. th8 Charities Acl 1993 and th8 Stst8mnl of R8commended Practice, "Accounting and Reporting by Chafttses., issued In March 2005. Structhrn. govornan¢8 and manag•m•nt rom13e reams Is a nationa registere rens al was aunc In toma ieams Dme true for seriously & leminalty ill thildren, and Iheir f8milies. across the UK. The ch8nty accepts ppllcallons from chlldren aged O to 18 and whether tha chlld would Ilke some time away from hospltsl ppolnlrngnts & trealment for 8 family holiday. sp9(ialist equipment to 6nsurg Ihg bgst possible l&vels of .are a malntaln8d Al home or even the chanee to meét thdr fravoufite cdebrity while they still can, romise Dreams18 committed lo help. Many of the appllcgts.ons received by the charity am nol for items hat the averagg person would consl(Jer a dream bul fly these thlldren, and their families, somthing as imple as laminate fin9 can m8ke a huge difference to every day of thelr Ilfe. Tragically th.me is not omething that many of these familias have a lot of so rai8h)9 8 few sp8aal smiles 8nd creatin roasurèd men18S Is that Promkn Dr¢arr* Is aH aLuL hanks to the hard wort(. passlon & enlhu$i8sm of Its support8ryJ charity has raised over 3.5 milllon ounés and nearly 2000 children have seen their dreams come twe. The children and families Ihat we ork with are doaling wilh all the difficult. presgurg and worries 8SSCQated wrth serfous illness, It Is S5ential that we prode a s6rvi¢e th8t Is sensikn've, reliat4e, syn)p8thetsG and SUPPOTtive of these Ircumslances. In organlslng dreams we op6r8te wlth o)mplele inlegrlty and dependabilkty- liaising. ordlnallng, organ15ing, fundlng and M nssary acc¥)mpanylng- to onsure thal the chSld has an nforgellable exp¢nonce. arKI the family can share Ihe joy. e ere proud to r•port that 9S% of our fam11$ us at 100% in our ablllty to provlde ou rvlces, based upon compleljon of quostiomelres flowIng dream dglivery. 11 the tru$le6s have volunteered to stand and act on behalr of th8 chanfy.
PROMISE DREAMS TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 The board of trustees meets regulaty aThJ its maN) purFose and activrty is fcus8d M the 59tt1ing of picY. $lrategi¢ rjiredion and ensurir¥J good stewardship of re¢outse8. Chalrs For8word 2021 was a dmcult yaar agaln and thè Charity rgmainÈd on tlck over wAth I( over 1 FfE remainirvJ employed. On the Fwjsitive side inL)Jme was higher than the previous year due to the efforts of a few crxp)rate donations and legacies. On the downside, as less Fffcnokn Nwas don8 during Covid aThJ dreams ¢wld not be tsken. the number of dr88ms we couhs fulfil was reduc£d. Towards the end oflhe year the tru¥taes werp InforrrJ that the Ch¥rlty Manager. 8everf8y Bird, and Trustse, Suresh Bawa. would t resogrdng. As a result. thé charlty tCk stock of rb objeVeS and revied the 9ntire operab'ng practicas of tha charlty. A new Trustee ha8 bft appointed, John Ck>nnelty. John has a Iory a880(xabon with the charity and brings fresh Ideas, relatlonshlps and cofporale oversbht to the chartoes activlties. A new Charity Manager. Nikki Yrnan8. has also been appointed. Nikki managed the charlty In Its first y8ars and bdngs renewed vlgour and rtr. Th8 fvGus for the comlng year has t)ve maln theme8:. Reducing the fixed costs of running the charity Greetgr control over the varlabl8 costs overht 8r)d transparency Broadening our fundrai8ing acaivilies through volunlaers and c(ffpor8t• wJthor8 Stream lining our processes through improved IT an(J procedures Building up our local and natlon81 presence to encourege ffK)re dream applthtp)ns Our alm18 to retum to Jr )re dwrlty obJoth9s of gvldgn¢kng th as much of the mongy donated 88 Possible 9088 to helplng the childrnn and th•ir famiFio8. We hope that this clear mission statement and transparency wll erKourage more rPOrate supporters and vdunleers to become invdved in helyng an increased number of thitdren and famili8s ac¥oss th8 UK. Th9 trustees who Served during the ye8r were.. J t)onovan S Bawa S Walker
PROMISE DREAMS TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 How we are organised The charity OPérydt88 throughout thè UK frorn Wolverhampton. The charivs work 18 carri8d out by manager. one part lime member arKI regular trustee inpuL Th& small team are r8sFonsibl8 for the good utilisalion of resourca and th8 thievements of 09¥ acrc¥ss the OFef8tional ar9as OP. Dr6Èm Fulfilment Mart(81ing and Communications Fundraising Finan¢e and adminislration Our M1s51on To Greate smiles and joy for tomiinally and 80rioUY 1 chiklrpn and their faMfj. by maknng thelr dr8am8 c)m8 truè. Our Vlsion That every tern1na or serii)usty111 chlhJ aTrJ th91r famty $Ik1 have the OPFthJnty to hav8 a dr8am delivered by Promise Dreams. Our Cornmitments To treat all children and familias wlh r8spect, car8. compassM)n and empathy. The importance in recognising everyone's value in Ihe organisation to fulfil our mlsslon. To celebrate the ujntn'bution made by 811 wo. vc4unleer in and on boh4f of Promise Droams, 811 our 8UPPOrters and doncfs. statement of Publlc b8nefft The trustees confimi that Wo In a(xovd8nc wlth ts kMJbllG benefit guldanG8 wbllshed by the tharity commission of England and Wabes. 1.There mu¥t IdenJ118bl& bèr*ffts: Our purpose is lo Improve the wellbeing of life limited or Iwe dgbilitated chiklr8n and thgir families, through the reallsalion of a dream. We receive great lestinleS al thank yous from the children. par&nts and ¢arer8 InvoEv8d wrth Ihe droam that substantlates wh81 a greath)y 8nd expariencè Ihis provldes. 2.B8ll8fi1 mu$l bg to the pubtic, or 86¢t ot. Th8 servlce that we prode is avallabl8 lo all life Ilmlle(l or lile debllitaled chlldren and their families across the UK. Two unique aspects of the chartty ar8 its lad( of wailing lists. Most appl'0ns. once complgled and pr8s6nted for dslOn$, are confimied wthin ono calendar month, Other charities within thi8 secaor Gan have up lo 1ve months waiknng lists. Secondty, the charity also worts with children from blrth lo Iwo year8 - popul81ion whlGh few, if any other charities in our sector, are able to help and unfortunately a growing cohort In palliats.ve care. Thls means we hdp tsmllles WIM) simply have nowhere else to go. In this financlal year. we have lulfille(I dreams for children auoss every (x)mÈr of the UK. Our charitoble 8ctivtbes (Jo not result in private benefits ex(wl where WKxd8ntal io thos9 activfties for oxample the purchase of gwjs and servi$ in or(ler to fuffil 8 dream. Our Key ObJ'e¢tive8 Our key achievernents are simpty to h&lp make the drews ol qUalI.ng children and thglr families com& trug through a well-run and transparent business mJe1 which rests the efforts of every fundraiser by keeping operaling costs low an¢J mlnlmE8ing any opporiunty for Ihase hard emd fijnds to be squandered.
PROMISE DREAMS TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Flnanclal rnvlaw Is year we rais In response lo the board's commitm&nt to d6liv*iNJ dreams and sustsinability £51.296 was sponl o ur charitable purpos8. Due lo the lack of dream ddNerability during COVID. £91.391 has en carri oward lo 2022 to fund fure dreams. £208, eserves hg board's polw18 to have capital adequacy allocated In re8em8. isks he trustees have c¢)nducted 8 rewew of major ri8k3 to whith the is exposed and hav mplemenled strategies to mitigate thoso rlsk& ur SupportOTS V8ry Penny we Spend 18 fitst received as a r8suh of the geneffjsity. ingenuity 8nd hard work of ou any donors and supporters. Cxjr heartfett gratitude extends to many of thos6 regular donors an upporters, that make swh a dfference to our )Inancial planning and som8thing we aim to improve on e cannot do our work wtlKJUt you and for this Ihank you. e are 30 proud of our 811 of supp)rtorn and frJndrsers WIKJ work tlrelessly lo raise fvnds kn Promis ¥eam8. every ponny really do88 mak• a dlllwonco. On behalf of th8 board of trust809 S Walker Trustee Dated: 26 September 2022
PROMISE DREAMS INDEPENDENT EXAMINER'S REPORT TOTHE TRUSTEES OF PROMISE DREAMS I report on the accounts of the tharity for the year ded 31 December 2021. whk are set cwt on pages 610 10. R8spoctlv8 rnsponslbllltlos of tru$to8s and examlner The charfvs tTUStees are restKJn$ibl8 for the preparalion of the accounts. The charity's trustees CDnsider that an audit Is not required for this year urKler seGtion 14412} of the Chariti83 Act 2011 (the 2011 Act) and that an Independent 8xamlnation is needed. It 18 my responsibility to.. {1) examine the acu)unts undèr soctlw 145 of th9 2011 Art. {11) to follow Ihe procedures laKI down in the g8n8ral Direclions given by the Charity Commission under S8clion 14515llbl of the 2011 Ad.. and {1111 to slate whether parU¢ular matters have c4)me io my attentlon. Basis ol ind•pondont •xamln•rfs r•port My examination was Ca1$ out in aGrdan(% %lth the general Dlr8ckn given by ts Charity Commlssion. An examination includes a review of the xcc4Jnting records kept by the chBrity and a comparison of the accounts presented th those rerds. It also Indud8s consideration of any unusual itgms or dlsdo8ur8s in the accounts, and sgeklng explanation¥ from you as trustees concemlng any suth matters. The procedure$ undertaken do not provide all the ewdence that wwld b8 required in an audll and conwuenty no oplnlon 15 glven a8 to whether the accounts present a llru8 and fair v18w' and tha raFrf is limi to those mattars $01 out in the slal8menl below. Indopondont •xamln•rfs stat•m•nt In conngction wfth my examinailon. no mattor has ¢))m81o my att8nth)n: 18) whlch gives me reasonable cause to bèlovo that In any materi81 respect th8 requirèments.. (il lo keep accoLsnllng records In aOrdanCe wlth secll¢)n 130 of the 2011 Act,. and (111 lo prepar8 accounts whlch accord with the ac0)uniir rerdS and eomply wlth th8 accountsng requiremen18 01 Iho 2011 Nd.. have not been mel., ( Ib) to which, in my opinion, atten1p shoutd b8 drawn in order to enable a proper understanding of the accounts to rasehéd. AGS Accounlants & Busin8ss Alfvisots Llmllod Unil 1 Castle cCrt 2 Casllegate Way Dudley DY1 4RH Dal8d.' 26 September 2022
PROMISE DREAMS STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021 2021 2020 Notes Voluntary income Investment income 164.322 12 72.092 22 164,334 44.010 72,114 32,081 Income from tharitablo ac118S Total InGomlng rosourc•s 208.344 104,195 Costs of ganeratlng fvnds Fundraising and other costs asscthted with generating ineffft e.g. Marketing. Event Expendllure 9,334 7,497 Not Incomlng re¥ource8 avallab 199.010 96,898 Charltabl• a¢llvlllos Dlrect ¢harltsble expendlture 51.296 24,628 Governance costs 56,323 72,015 Total r•8our¢•8 •xp•ndod 116,953 104, 140 Not Incom• fortho y•arl Nel mov•m•nt In funds 91,391 55 Fund balances at 1 January 2021 86.677 88,622 Fund balan¥ at 31 Dec•mb•r 2021 178.068 86,677
PROMISE DREAMS BALANCE SHEET ASAT31 DECEMBER 2021 2021 2020 Current ais•ts Dgbtors Cash at bank an(J In tt81 375 211,095 106.632 211.470 106,632 Credltor8: amounts falllng du• wknln on• yoar (33,402) (19,955} Total a$sots1o88 curr•nt Ilabllttl 178.068 86.677 Incom& fund8 UnreslrSctsd funds 178,0fj8 86,677 178.068 86.677 The accounts were approved by the Trust9es on 26 September 2022 S Walker Trustee
PROMISE DREAMS NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021 Aceounting pollciés 1.1 Basis of prgparatlon The flnancial stalamen18 are pr8pared uThJer th6 historical cost convention. The accounts have been prepared in aCrdance wrth applicable actounling standards, the Statement of Recommended Practice. 'AceountiThJ and Rerting by Charitl88'. issued in March 2005 and the Charili8s Act2011. 1.2 In¢¢mifftg resour• The income for the tharlty rnpr•sents fuThls donated and Ino)mè dgrived from thg evenis organlsed lo promote tha obl8cts ofthe ¢*arfty. Thg chanty dld not have any tradlng InMe durkng tho year. Donatsons: Incomo frtyn donatk)ns18 Indudgd In Inc4Jmlng rgsourc88 whtrn Ilw ar6 rèc9ivale. Generatn of furKIs'. Income from aclivities to generate funds Is re[ned al the tKAnl the acuvlty occurs. 1.3 Rgsourc•s èxpendgd The chartty accounts fcf the expenditure on dreams at the point the selectlon commltt88 approve th8 request. AJI other expendttur8 ig aeeount8d for on an atLwal$ basi8. 1.4 C8•h Flow 8tat•m•nt The charlty is exempl under Flnandal Rewttng Statement l. from prepariro a cash fiow slgtgment due lo IV8 81Za. 1.5 Fund accountlng Unrè$tri¢ted funds can be used in 8ccordance with the charitae objectives at the dlscreuon of the trustees. Restrlcted frjnds c4n only be u6ed follthving speafic restrKtions spgofied by the donor. Voluntary Income 2021 2020 Donations and gffts 164.322 72,092 Inv8stm•nt In¢ome 2021 2020 Intgrgst receiva6 12
PROMISE DREAMS NOTES TO THEACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Income from charltable actlvltias 2021 2020 Events 8nd Fundr8i8ing incom• Ineludlng Communitios Sthcols and Gr8nts 44.010 32,081 Totsl rgsour¢¢• oxwnded Trjtal 2021 Total 2020 Costs of generatlng fun Fundraising and other Costs a58ted with 98nerating incom& e.g. Mark&llng. Event Exp8ndilure 9,334 9.334 7,497 Charltablo actlvltle8 Actlvilies undortak8n direclty 51,296 51,296 24,628 Qov•rn•n¢• co•ts 6,777 56,323 72,015 67,407 118,953 104.140 Truts• The truslees do not draw any omolumgnts from the Employees Numbor of •mployws The averap monthty number of gmploy8es during the year was.. 2021 Number 2020 Number F1 lime stsff Employment costs 2021 2020 Wages and salaries 62,903 Thera w8r8 no 8mploy88s whose annual r8munsration vras £60.OCKI or more.
PROMISE DREAMS NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 D•btorn 2021 2020 Other debtC¥5 375 Credltors: amounts falllng duo wlthln one year 2021 2020 Trade creditors Taxe8 and social 8e¢urfty c4xts Accruals 30,984 1,409 1,009 19.342 613 33,402 19.955 10-