2024-12-31-accounts

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Charity Registration No. 1086020

PROMISE DREAMS

TRUSTEES' REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024

PROMISE DREAMS

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

J Donovan J Donnelly S Walker

Charity number

1086020

Independent examiner

Xeinadin Unit1 Castle Court 2 Castlegate Way Dudley West Midlands DY1 4RH

PROMISE DREAMS

CONTENTS

	Page
Trustees’ report	1-4
Independent examiner's report	5
Statement of financial activities	6
Balance sheet	qi
Notestotheaccounts	8-10

PROMISE DREAMS

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees present their report and accounts for the year ended 31 December 2024.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Trust Deed, the Charities Act 1993 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.

Structure, governance and management

Promise Dreams is a national registered children’s charity that was launched in 2001 to make dreams come true for seriously & terminally ill children, and their families, across the UK. The charity accepts applications from children aged 0 to 18 and whether the child would like some time away from hospital appointments & treatment for a family holiday, specialist equipment to ensure the best possible levels of care are maintained at home or even the chance to meet their favourite celebrity while they still can, Promise Dreams is committed to help. Many of the applications received by the charity are not for items that the average person would consider a dream but for these children, and their families, something as simple as laminate flooring can make a huge difference to every day of their life. Tragically time is not something that many of these families have a lot of so raising a few special smiles and creating treasured memories is what Promise Dreams is all about.

Thanks to the hard work, passion & enthusiasm of its supporters the charity has raised over 3.5 million pounds and nearly 2000 children have seen their dreams come true. The children and families that we work with are dealing with all the difficulties, pressure and worries associated with serious illness, it is essential that we provide a service that is sensitive, reliable, sympathetic and supportive of these circumstances. In organising dreams we operate with complete integrity and dependability - liaising, coordinating, organising, funding and if necessary accompanying - to ensure that the child has an unforgettable experience, and the family can share the joy.

We are very proud to report that 95% of our families rated us at 100% in our ability to provide our services, based upon completion of questionnaires following dream delivery.

All the trustees have volunteered to stand and act on behalf of the charity.

PROMISE DREAMS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

The board of trustees meets regularly and its main purpose and activity is focused on the settling of policy, strategic direction and ensuring good stewardship of recourses.

Chair's Forward

2024 saw continued focus on the main themes set in 2023:-

1. Fixed costs of running the charity continually reviewed and minimised where possible.

2. Greater control over the variable costs with oversight and transparency.

3. Fundraising activities broadened through community support and corporate partners.

4. Processes streamlined where possible.

5. Awareness of charity raised through social media platforms thus encouraging an increase in funding and supporters.

We implemented a successful campaign to encourage more dream applications.

We are continuing to operate to our core objective of evidencing that as much of the money donated as possible goes towards helping the children and their families.

We are increasing the number of dreams completed year on year even though dream expenditure decreased which is a result of more economic spending - as detailed in the Financial Review section.

Focus on 2025 is to continue increasing fundraising by raising awareness and actively seeking companies/ organisations to partner with us, whilst also increasing the number of dreams completed.

The Trustees who served during the year were:-

J Donovan

J Donnelly S Walker

PROMISE DREAMS TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

How we are organised

The charity operates throughout the UK from Wolverhampton. The charity’s work is carried out by a manager, one part time member and regular trustee input. The small team are responsible for the good utilisation of resource and the achievements of objectives across the operational areas of:

• Dream Fulfilment

• Marketing and Communications - Fundraising - Finance and administration

Our Mission

To create smiles and joy for terminally and seriously ill children and their families, by making their dreams come true.

Our Vision

That every terminally or seriously ill child and their family should have the opportunity to have a dream delivered by Promise Dreams.

Our Commitments

To treat all children and families with respect, care, compassion and empathy.

The importance in recognising everyone’s value in the organisation to fulfil our mission. To celebrate the contribution made by all who work, volunteer in and on behalf of Promise Dreams, all our supporters and donors.

Statement of Public benefit

The trustees confirm that we acted in accordance with the public benefit guidance published by the charity commission of England and Wales.

1.There must be identifiable benefits:

Our purpose is to improve the wellbeing of life limited or life debilitated children and their families, through the realisation of a dream. We receive great testimonies and thank you from the children, parents and carers involved with the dream that substantiates what a great joy and experience this provides.

2.Benefit must be to the public, or section of:

The service that we provide is available to all life limited or life debilitated children and their families across the UK. Two unique aspects of the charity are its lack of waiting lists. Most applications, once completed and presented for decisions, are confirmed within one calendar month, Other charities within this sector can have up to twelve months waiting lists. Secondly, the charity also works with children from birth to two years - a population which few, if any other charities in our sector, are able to help and unfortunately a growing cohort in palliative care. This means we help families who simply have nowhere else to go. In this financial year, we have fulfilled dreams for children across every corner of the UK. Our charitable activities do not result in private benefits except where incidental to those activities for example the purchase of goods and services in order to fulfil a dream.

Our Key Objectives

Our key achievements are simply to help make the dreams of qualifying children and their families come true through a well-run and transparent business model which respects the efforts of every fundraiser by keeping operating costs low and minimising any opportunity for these hard earned funds to be squandered.

PROMISE DREAMS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Financial review

This year we raised £236,576 - an increase of £16,763 on last year.

Voluntary income was down by £35,066 which was due to an extraordinary donations in 2023 which were not received in 2024. i.e., proceeds from house of sale left in a will; significant corporate donation and significant fundraising from a family we helped them with their dream.

Income from charitable activities has increased by £49,307 which is due to increased fundraising from our annual ball and increased fundraising from a corporate event.

Direct charitable expenditure - which is the cost of dreams - decreased even though we completed more dreams compared to 2023. This is because we are spending more economically and some of the dreams will not have incurred a cost and some will have cost less than the average.

Governance costs incurred which is due to salary increase and subsequent increase in PAYE plus the government increase in NI payments by employers.

Reserves of £254,130 were carried forward to 2025 to fund future dreams.

Reserves

The board’s policy is to have capital adequacy allocated in reserves.

Risks

The trustees have conducted a review of major risks to which the charity is exposed and have implemented strategies to mitigate those risks.

Our Supporters

Every penny we spend is first received as a result of the generosity, ingenuity and hard work of our many donors and supporters. Our heartfelt gratitude extends to many of those regular donors and supporters, that make such a difference to our financial planning and something we aim to improve on, we cannot do our work without you and for this thank you.

We are so proud of our all of supporters and fundraisers who work tirelessly to raise funds for Promise Dreams, every penny really does makea difference.

On behalf of the board of trustees

S Walker Trustee Dated: 23 October 2025

PROMISE DREAMS

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PROMISE DREAMS

| report on the accounts of the charity for the year ended 31 December 2024, which are set out on pages6 to 10.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

• It is my responsibility to: (i) | examine the accounts under section 145 of the 2011 Act;

• (ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and

• (iii) to state whether particular matters have come to my attention.

Basis of independent examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

• (a) which gives me reasonable cause to believe that in any material respect the requirements: (i) | to Keep accounting records in accordance with section 130 of the 2011 Act; and (ii) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act;

have not been met; or

• (b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Xeinadin

Unit 1

Castle Court 2

Castlegate Way Dudley West Midlands DY1 4RH

Dated: 23 October 2025

PROMISE DREAMS

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2024

		2024	2023
	Notes	£	£
Incoming resources from generated funds
Voluntary income	2	89,897	124,963
Investment income	3	4,093	1,571
		93,990	126,534
Income from charitable activities	4	142,586	93,279
Total incoming resources		236,576	219,813
Resources expended	5
Costs ofgenerating funds
Fundraising and other costs associated with generating income e.g.
Marketing, Event Expenditure		19,409	15,756
Net incoming resources available		217,167	204,057
Charitable activities
Direct charitable expenditure		114,984	162,749
Governance costs		74,820	63,391
Total resources expended		209,213	241,896
Net income/(expenditure) forthe year/
Net movement in funds		27,363	(22,083)
Fund balances at 1 January 2024		226,767	248,850
Fundbalancesat31December2024		254,130	226,767

PROMISE DREAMS

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
	Notes	£	£	i	£
Current assets
Debtors	8	28,727		16,686
Cash at bank and in hand		269,730		266,562
		298,457		283,248
Creditors: amounts falling due within
one year	9	(44,327)		(56,481)
Total assets less current liabilities			254,130		226,767
Income funds
Unrestricted funds			254,130		226,767
			254,130		226,767

The accounts were approved by the Trustees on 23 October 2025

S Walker Trustee

PROMISE DREAMS

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

• 1 Accounting policies

1.1 Basis of preparation

The financial statements are prepared under the historical cost convention.

The accounts have been prepared in accordance with applicable accounting standards, the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005 and the Charities Act 2011.

1.2 Incoming resources

The income for the charity represents funds donated and income derived from the events organised to promote the objects of the charity. The charity did not have any trading income during the year.

Donations:

Income from donations is included in incoming resources when they are receivable.

Generation of funds: Income from activities to generate funds is recognised at the point the activity occurs.

1.3 Resources expended The charity accounts for the expenditure on dreams at the point the selection committee approve the request. All other expenditure is accounted for on an accruals basis.

• 1.4 Cash Flow Statement The charity is exempt under Financial Reporting Statement 1, from preparing a cash flow statement due to it's size.

1.5 Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used following specific restrictions specified by the donor.

2 Voluntary income

			2024	2023
			£	E
Donations	and	gifts	89,897	124,963

3 Investment income

		2024	2023
		£	£
Interest	receivable	4,093	1,571

PROMISE DREAMS

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

4 Income from charitable activities

				2024	2023
				£	£
	Events and Fundraising income including Communities	Schools and	Grants	142,586	93,279
5	Total resources expended
		Staff	Other	Total	Total
		costs	costs	2024	2023
		£	£	£	£
	Costs of generating funds
	Fundraising and other costs associated with
	generating income e.g. Marketing, Event
	Expenditure	-	19,409	19,409	15,756
	Charitable activities
	Direct charitable expenditure
	Activities undertaken directly	-	114,984	114,984	162,749
	Governance costs	70,617	4,203	74,820	63,391
		70,617	138,596	209,213	241,896

The trustees do not draw any emoluments from the charity.

6 Trustees

PROMISE DREAMS

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

7 Employees

Number of employees

The average monthly number of employees during the year was:

	Number of employeesemployees The average monthly number of employeesemployees during the year was:was:
		2024	2023
		Number	Number
	Full time staff	1	1
	Part time staff	1	1
		2	2
	Employment costs	2024	2023
		3	£
	Wages and salaries	69,521	60,992
	Social security costs	1,096	-
		70,617	60,992
	There were no employees whose annual remuneration was £60,000 or more.
8	Debtors	2024	2023
		£	£
	Other debtors	27,727	15,686
	Prepayments and accrued income	1,000	1,000
		28,727	16,686
9	Creditors: amounts falling due within one year	2024	2023
		£	£
	Trade creditors	44,000	48,600
	Taxes and social security costs	327	-
	Other creditors	-	7,881
		44,327	56,481