The TtrueJiT CD)DutrS Tpust nnua 120241 Report
CONTENTS
| 1What We Do | What We Do | 3 |
|---|---|---|
| 2Trustees’ Report | Trustees’ Report | 4-22 |
| 3Legal and Administrative Details | Legal and Administrative Details | 23 |
| 4Statement of Trustees’ Responsibilities | Statement of Trustees’ Responsibilities | 24 |
| 5Independent Auditor’s Report | Independent Auditor’s Report | 25-27 |
| 6Statement of Financial Activities | Statement of Financial Activities | 28 |
| 7Balance Sheet | Balance Sheet | 29 |
| 8Statement of Cash Flow | Statement of Cash Flow | 30 |
| 9 | 9Notes to the Accounts | 31-38 |
WHAT WE DO
True Colours is an independent funder working in the UK and Africa
OUR WORK IS FOCUSSED ON:
l improving access to palliative care for babies, children and young people in the UK
- l enabling disabled children and young people to live their lives to the full l improving access to pain relief and palliative care in Africa.
We have been working on these issues since 2002 and they will continue to remain the focus areas for our grant-making in the future. On average, we approve grants amounting to £2 million each year.
Listening to those with lived experience
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Our
approach
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- [ Partnerships, feedback and real collaboration
Long-term commitments
TRUSTEES’ REPORT NN
In the UK, the number of children with life-limiting or life-threatening conditions is rising, with the largest increase seen in infants under
t the heart of True Colours’ work is an ambition A to make a difference to the lives of disabled children and their families and to improve access to palliative care. We are working towards a time when all disabled children and young people are able to live their lives to the full and everyone, wherever they live and whatever their age, is able to access good palliative care.
Ninety-eight percent of children needing palliative care live in low-and middle-income countries (LMICs), and almost half of them live in Africa.
1 year². Our work on neonatal palliative care seeks to improve services for babies with an uncertain future, and their families.
There are one million disabled children under the age of 16 in the UK – that equates to one child in 20. However, families with disabled children often struggle to access the services and support they need, and many children are overlooked or excluded due to their disability.
Sasaki, H., Bouesseau, MC., Marston, J. et al. A scoping review of palliative care for children in low- and middle-income countries. BMC Palliat Care 16, 60 (2017).
We design programmes of work in close consultation with our partners, sector experts and those with lived experience, in order to ensure that our funding is flexible, responsive and effective.
As a funder, we have always sought to identify and address inequity, both through what we fund and how we work. We are In the UK there committed to transparency are 1 million in our grant-making and have sought to include disabled children within this report more under the age of 16 information about – that equates to how we operate and why we do what we do. 1 child in 20. Information on the specific Contact grants we made this year can be found on pages 7-22.
We continue to address inequity through all our grant making. Health inequalities exist in every country and across every continent. Access to palliative care and pain relief is a universal need but varies greatly depending upon where you live. Millions of people across the world experience preventable pain, affecting them and their loved ones, because appropriate pain relief is not available. Research shows that there are 21 million children worldwide with conditions that would benefit from a palliative care approach, and between four and eight million who need specialist children’s palliative care. Over half of these children live in Africa. Around 45% of African countries have little or no palliative care provision. We are working with our African partners to change this.
Thank you for your interest in True Colours, we hope you enjoy reading about our work and that of our partners in 2023/24.
- Palliative care is a crucial part of integrated, people-centred health services. Relieving serious health-related suffering, be it physical, psychological, social, or spiritual, is a global ethical responsibility. Thus, whether the cause of suffering is cardiovascular disease, cancer, major organ failure, drug-resistant tuberculosis, severe burns, end-stage chronic illness, acute trauma, extreme birth prematurity or extreme frailty of old age, palliative care may be needed and has to be available at all levels of care. – World Health Organisation (https://www.who.int/news-room/fact-sheets/detail/palliative-care 2. Fraser LK, Gibson-Smith D, Jarvis S, Norman P, Parslow RC. Estimating the current and future prevalence of life-limiting conditions in children in England. Palliat Med. 2021 Oct;35(9):1641–51
WHO WE ARE
True Colours has a board of trustees who are responsible for the overall direction and supervision of The True Colours Trust. They set the Trust’s strategy, review proposals and approve grants. In 2023/24, the trustees were:
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l Lucy Sainsbury
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l Tim Price
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l Dominic Flynn
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l David Wood
The trustees are supported by a staff team:
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l Catherine Korris (formerly Catherine Gathercole), Executive
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l Jo Ecclestone Ford, Strategic Lead
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l Vesa Kahramani, Administrator
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l Meleka Ibrahim, Finance Partner
True Colours’ registered office is The Peak, 5 Wilton Road, London SW1V 1AP.
Forward Facing
HOW WE WORK
he majority of our grants are awarded to support programmes which have been designed and developed in partnership with organisations, in T response to identified needs, and which have been invited by the trustees.
Palliative Care Association of Malawi
We run two small grants programmes for which we have an open application process – one for work in the UK and another for work in Africa. More information on these programmes and how to apply can be found on our website – www.truecolourstrust.org.uk and on pages 20-22.
We believe in transparency in grant-making and publish information on all our grants on 360 Giving - www.threesixtygiving.org.
Listening to those with lived experience
Since True Colours was founded in 2002, we have always listened to those from the sectors in which we work, and designed programmes in collaboration with those we fund. Increasingly, we are now working directly with families, and those with lived experience, to ensure our funding is informed by their experiences.
Partnerships, feedback and real collaboration
Partnerships are key to all our work. We are incredibly grateful to all those who share their knowledge, experience and expertise with us, helping us to learn more about the sectors in which we work and the collective needs. We also really appreciate feedback and seek to use it to improve our ways of working.
Long-term commitments
We know that change takes time, particularly if it involves changes to systems and to established ways of working and thinking. We understand that sometimes projects take longer than expected and that there is often a need for flexible, long-term funding to make lasting change possible.
Diversity, Equity and Inclusion
We believe that our funding has a role in addressing inequity and supporting a fairer society. We always aim to be responsive and equitable grant-makers. We spend time getting to know our partners and listening to their experiences, working collaboratively to design flagship programmes. Consultation with stakeholders helps us to ensure that our decision making is informed by those with lived experience and professionals working in our priority areas. It is important to us that a culture of diversity, equity and inclusion is core to our team of employees, and central to our grant-making. We will continue to work to achieve this and are dedicating the time and resources needed to do so. We will continue to talk with and listen closely to those we support as we move forward.
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Friends and Families
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HIGHLIGHTS OF 2023-24
his year we continued to fund inspiring organisations working in our three grant-making areas and made 57 grants amounting to £2.5 million. More information on the individual T grants approved follows (pages 18 to 22) with some highlights below.
Our work in the UK
The National Neonatal Palliative Care Programme
Neonatal palliative care is invaluable in any situation where there is uncertainty about a baby’s future, including before they are born. The number of babies born with multiple complex health needs and an uncertain future is increasing and a large proportion of these babies are cared for in neonatal units following their birth. It has been estimated that at least 2,000 babies each year in England and Wales cared for in Neonatal Intensive Care Units would benefit ³ It is vital that families who need from palliative care. it are provided with excellent neonatal palliative care throughout their journey.
True Colours has been working with Chelsea and Westminster Hospital NHS Foundation Trust and its charity CW+ since 2015, on a programme to improve neonatal palliative care services. This pioneering programme was spearheaded by Alex Mancini, the UK’s first National Lead Nurse in Neonatal Palliative Care, and is informed by her experiences and analysis of need while working as Matron on the NICU at Chelsea and Westminster.
The project began as a successful pilot in London, which expanded into three further regions in 2021. It will become fully national over the next five years, reaching the remaining nine regions in the UK. In each region, multi-disciplinary training has been provided to clinicians working in neonatal care to ensure that they have the knowledge and enhanced skills they need to improve the experience and outcomes for families. 93% of participants in the programme reported that the training increased their confidence in caring for babies with complex and palliative care needs and their families. A set of learning materials has now been developed and networks of clinicians with expertise in neonatal palliative care have been created to share knowledge and best practice.
The national roll-out will be the third and final phase of the project and will see a greater emphasis on sustainability, including the Training of Trainers, identifying revenue streams for key strands of work, establishing a biennial conference to showcase best practice and formalising peer networks for ongoing support and development. The programme is fully aligned to the newly published Framework⁴ for palliative care from the British Association of Perinatal Medicine and operates within the NHS-England three-year delivery plan.
The programme has the potential to act as a national exemplar of clinically-led ward-level insight and innovation being scaled first regionally and then nationally. This is rare within the NHS and we are proud of what the partnership has managed to achieve. As the NHS continues to evolve its integrated care models, we are committed to sharing learning from this programme with other partners and national policy makers and maximising opportunities in our growing network.
True Colours is hugely proud of our involvement in this pioneering programme which is improving experiences of the most seriously ill babies in the country, and their families.
3.Harnden F, Lanoue J, Modi N on behalf of the UK Neonatal Collaborative, et al Data-driven approach to understanding neonatal palliative care needs in England and Wales: a population-based study 2015–2020. Archives of Disease in Childhood - Fetal and Neonatal Edition 2023;108:540-544 4. https://www.bapm.org/resources/palliative-care-in-perinatal-medicine-framework
Jessie May – at home nursing and respite care for children with life-limiting and life-threatening conditions
True Colours’ first grant to Jessie May was awarded over twenty years ago in 2003! Since then, we have supported the organisation regularly, with funding which passed the £1m mark in 2023.
Jessie May provides exceptional palliative care and support to children with life-limiting and life-threatening conditions, and their families, in their own homes. Its unique model sees Jessie May nurses working closely with other professionals, parents and family members, to ensure continuity of care for children at home.
Jessie May nurses work across the South West of England, offering care to families in a range of ways. They provide respite visits in children’s homes, taking on the caring responsibilities for a child while their parents have some desperately needed time to themselves to eat, sleep, run
Jessie May
errands or spend time with their other children. These sessions are designed to be fun, and may include sensory play, crafts and music. Families are also invited to join fun family events – often a rare opportunity to take part in such activities as a family.
The charity also provides dedicated assistance to families whose child is in hospital, answering questions or addressing concerns, as well as signposting to resources and providing emotional support. If needed, nurses help to plan for end-of-life and will also provide bereavement support if a child dies.
Jessie May demonstrates what excellent children’s palliative care can look like and shows the amazing impact that home-based palliative care can have for children and their families. It’s vital that different models of care are available to children and families, to ensure that individuals’ needs are met.
Jessie May
Since it was first founded, Jessie May has always offered a unique service, blazing the trail for what excellent children’s palliative care at home can look like. The organisation continues to innovate and develop its services while keeping children and families at the centre of everything it does. For this reason, we have been proud to continue to support Jessie May over the last 20 years – the organisation is one of our longest-standing partners. We remain a firm supporter of the inspirational work delivered by Jessie May.
Lucy Sainsbury, True Colours Trust Chair.
Guidelines for those working with parents of children with life-limiting and life-threatening conditions and bereaved parents.
True Colours is founded on the belief that those with lived experience are the experts about their experiences, needs and wishes. We have benefitted hugely from the generosity of parents and professionals who have shared their experiences with us to help us develop programmes and make grants. We have long advocated for all those working with disabled children and children with palliative care needs to consult parents when designing projects; we are delighted that this is gradually becoming standard practice.
Over the last few years, we have become increasingly aware that there is a lack of guidance on how best to engage parents of children with palliative care needs or bereaved parents safely and responsibly in consultations, research and charity positions (ambassadors, trustees, fundraisers etc.). There are a lot of excellent examples of this being done really well, but sadly we have also witnessed some instances of poor practice and have anecdotally heard many more.
Parents’ experience is now rightly considered a vital component of all healthcare service development, research projects and charity services. There are many things to consider when engaging parents, particularly bereaved parents or parents of disabled children and children with life-limiting or life-threatening conditions. We recognise that it’s not always easy to know how best to approach engaging parents and we wanted to better understand what parents felt we and others could do to ensure they are supported throughout the process, so that we can all do better.
After a number of discussions, in 2023, we commissioned the Cicely Saunders Institute of Palliative Care, Policy and Rehabilitation at King’s College London to develop good practice guidelines for those working with parents of seriously ill children and bereaved parents. The guidelines are intended for use by anyone working in the healthcare or charity sectors who consults parents and carers about their experiences.
The Institute, working with academics from the Universities of Leeds and York, undertook a review of existing guidance and ran two workshops with a group
of parents, healthcare and charity professionals. Parents shared a wealth of information about their personal experiences (both positive and negative) of being engaged in roles as a parent, advisor, fundraiser, speaker or consultant or in research.
Parents’ recommendations can be grouped into three main areas:
1. Communication is key
Parents ask us to really listen to their experiences and meaningfully engage them in discussion. Parents should feel valued and should be kept updated on how their contribution is making a difference. It is important to be consistent and reliable and not to make assumptions about how a family will feel.
2. Build relationships
Parents want us to consider the support that they might need and to strive to provide it. They want us to take time to understand their story and to allow them to be active co-creators of a project. They ask us to be clear about how we’ll work together and explain why specific questions are being asked. Parents also want to know how their feedback will be used.
3. Be inclusive
Parents highlighted that not every family needs the same thing and that it’s vital to personalise activities, communication styles and ways to engage. We should never assume that technology is accessible to all parents, and we should allow parents to contribute differently depending on their preferences day to day. Flexibility is vital.
A short film and guidance materials are now available for free for anyone working with parents. These can be accessed on our website⁵ . These materials will be invaluable, providing practical advice and food for thought on how to engage with parents thoughtfully, safely and responsibly.
True Colours and King’s College London would like to express our thanks to all the parents and professionals who took part in the workshops and helped to co-design the materials.
- https://www.truecolourstrust.org.uk/projects/guidelines-for-those-workingwith-parents
The Maypole Project
The Maypole Project – flexibility in responding to families’ needs
The Maypole Project supports children with complex medical needs and their families from the point of diagnosis (or even before diagnosis) throughout a child’s life and, where needed, post-bereavement.
We have been hugely impressed by how Maypole works to meet the immediate and long-term needs of families. The charity’s services are developed in response to feedback or requests from families and are adapted as those needs change. The charity understands that children exist within a family unit and that the needs of the whole family must be considered when providing support.
Maypole provides play therapy for children and young people including siblings. It offers activities, outings, sports clubs, art groups and buddy schemes to help children make friends. It also provides therapy sessions for adults. The charity is home to a sensory room and soft play area which can be hired by families when not being used by the charity, providing a much-needed play space for children who may struggle to access mainstream play areas. Based in Orpington in South-East London, the charity has a strong local presence but during the pandemic also moved some of its services online in order to offer them nationally.
True Colours has provided funding to The Maypole Project with three small grants over the last ten years and in 2023 we were delighted to approve a three-year core grant to support its ongoing activities.
We are proud to support the vital work of The Maypole Project which is having a real impact on children and their families.
Face Everything and Rise
UK Small Grants – local, personalised support for children and families
The work of small, local organisations is critical when meeting the needs of children and families in their communities and at home. When appropriate support is provided, all children can access activities, make friends, enjoy outings and sports and gain new experiences.
True Colours’ UK Small Grants Programme is a key part of our grant making. We firmly believe that disabled children and children with life-limiting and life-threatening conditions should be able to access any activity they wish to. Local organisations are often best placed to understand children’s needs and respond practically, removing barriers to opportunities or activities to make sure that all children, whatever their needs, can enjoy as many experiences as possible.
It’s really important to play. When a child is diagnosed with a longterm, life-limiting illness – you can get so caught up in a medical world that you forget to just spend time together as a family, having fun in the moment and making memories
This year, we have been delighted to award several grants which have a real focus on helping children and families access new experiences, such as swimming sessions for children with central lines or who are tube fed, run by Face Everything and Rise, and fishing sessions for disabled children run by the British Disabled Angling Association. The Sheffield Steelers purchased two power chairs to allow its young people to play wheelchair basketball, and Interplay Theatre Trust and Embracing Arts have both received funding towards theatre productions for children with complex medical needs.
Karen Raney-Marr, Play Specialist for The Pepper Foundation.
Other charities have received funding to provide services to children in their homes. The Pepper Foundation brings specialized and tailored play sessions to children at home while Thomas’s Fund provides music therapy sessions to disabled children who are not able to go to school for medical reasons.
Other organisations we have supported focus on responding to immediate challenges faced by families. Spoons provides volunteers who give personalized and practical support to parents of babies who are being cared for on neonatal units. The Javan Coker Foundation offers after-school clubs to disabled children but also provides opportunities for parents to access signposting to essential services and help with paperwork and forms.
We know that the work of these small, locally-led organisations makes a huge difference to the lives of children and families by providing face-to-face, personalised support.
The Small Grants UK programme provides grants of up to £10,000 to help smaller organisations develop and deliver programmes. For more information on the grants we awarded this year, please see page 21-22.
British Disabled Angling Association
Soon after I met the Spoons Family Support Worker, she asked me about my story and how she could support me. I told her I didn’t have a pram or tiny clothes. The Family Support Worker contacted other parents who were in the Spoons Parent Facebook Group to see if anyone would help. Lots of gifts came in - she brought me small clothes, a specially knitted cardigan and hat and a pushchair.
A mum, speaking about her experiences with Spoons.
Thomas’s Fund
Our work in Africa
Palliative Care in Malawi – Palliative Care for All
True Colours is committed to long-term funding to achieve real, sustainable change. We know that it is vital that programmes are planned with a clear exit strategy to ensure that work continues, supported by local structures, when our funding comes to an end. However, we also understand that external pressures require any programme to be flexible and adaptable as needs change over time.
True Colours has been working with partners in Malawi since 2011, supporting the integration of palliative care services into the public health system. The impact of this work has been extraordinary. Today, every district in Malawi has a dedicated palliative care clinic run by a fulltime member of staff and palliative care has a budget line in all District Health Implementation Plans. Malawi has been ranked among the top 29 countries in the world for palliative care integration, alongside the UK, USA, Australia and Germany. This is a truly remarkable achievement.
The challenges facing Malawi’s health system are significant. Cyclone Freddy decimated crops and destroyed homes in 2023 and poor harvests mean the country is now facing the worst food crisis in a decade according to the United Nations World Food Programme. Palliative care patients are amongst the most vulnerable to food insecurity and climate change.
Palliative Care Association of Malawi
Several years ago, we began working with our major partner in Malawi, the Palliative Care Association of Malawi (PACAM) to develop a long-term exit strategy as our original funding was due to end in 2021 (subsequently extended to 2023). PACAM has been working closely with the Malawi Ministry of Health to put in place systems and structures which will sustain the gains made to date. Districts have been able to plan for changes to the programme and embed trained staff in the system. Feedback from the Ministry of Health Nursing and Midwifery Secretariat and members of health management teams on our approach has been very positive.
Palliative Care Association of Malawi
During a visit by the True Colours Team in September 2023, and in multiple conversations with partners, Malawi Ministry of Health officials and other professionals, a specific number of gaps were identified which would benefit from further dedicated support. These included additional development of children’s palliative care and
continued work improving consistent access to pain relief. In addition, following 13 years of investment, there is a new cohort of trained medical professionals who have significant skills and experience in palliative care. Future work by PACAM will focus on mentoring these experts to lead the development of palliative care in Malawi in the future. This strengthening of local champions will, we hope, result in real systemic change.
Discussions began this year about the continuation of True Colours’ funding in Malawi for a further five years, with a focus on addressing these specific gaps which will, we hope, make a long-term, tangible and lasting difference to palliative care in Malawi.
We are hugely grateful to PACAM and all those in Malawi who share their expertise and experience with us to help us support real systems change in Malawi.
Data to inform the development of global palliative care
Accurate, up-to-date information is key to assessing the need for palliative care across the world. It is essential for those who are advocating for services and holding governments to account and helps inform the development and provision of services to ensure that appropriate care is reaching those who need it.
In 2023, True Colours awarded funding to the Atlantes Global Observatory of Palliative Care, based at the University of Navarra in Spain. Atlantes is a World Health Organization Collaborating Centre which has a specific mandate of monitoring and assessing the global development of palliative care. We are funding the costs of a researcher who is collecting, analysing, documenting and sharing an assessment of palliative care development across Africa. The WHO palliative care indicators will be used to provide a standardised record of the situation in all African countries.
We hope that this new data will provide a clearer picture of global needs and challenges, and in particular will help to address inequity in provision.
Hands on Care, via the African Palliative Care Association
A new approach to providing small grants in Africa
This year, following extensive consultation with the African Palliative Care Association (APCA), local experts and former grant recipients, we have adopted a new approach to the application, review and award processes of our Africa Small Grants Programme.
Founded in 2009, the programme provides grants of up to £5,000 to local grassroots organisations across Africa which are delivering palliative care projects in their areas. APCA undertakes the administration of the programme, publicising grant rounds, reviewing applications, undertaking due diligence and managing grants once they are awarded.
In 2023, it was agreed that an independent panel would be appointed to review applications to the programme. The intention was to widen the breadth of expertise involved in decision making and to utilise the skills and experience of palliative care practitioners from across Africa. We have now undertaken two rounds of grant-making, supported by the panel. We continue to adapt the programme and we are hugely grateful to the panel for their work to date. By consulting and listening to those on the ground, we are confident that our grant-making is reaching those organisations most in need and most able to deliver practical palliative care solutions to those in their areas.
GOVERNANCE
he trustees were advised this year by Dame Christine Lenehan, Tara Kerr-Elliott, Faith MwangiPowell and Lisa Spinks, alongside parents on a T number of Advisory Groups. To avoid conflicts of interest arising, advisers do not participate in trustees’ decision-making regarding the funding of any organisation with which they are associated. We are very grateful to all our advisers for their expertise, time and dedication.
The trustees who served during the year are listed on page 23. Trustees are appointed by the Chair, in consultation with existing trustees, and are provided with relevant information relating to their responsibilities. The trustees are responsible for the overall direction and supervision of The True Colours Trust; they set the Trust’s strategy, review proposals and approve grants. The trustees delegate day-to-day operations to the Trust Executive, Catherine Korris.
Reserves Policy and Going Concern
In the year under review, there was a planned deficit of income over expenditure on the unrestricted funds of £944,540 (2023: £2,082,324). This has been funded by a transfer from expendable endowment. Whenever it may be necessary in the future, the trustees are prepared to fund grant commitments from expendable endowment.
Although some grants have been accrued, others totalling £1,630,958 (2023: £317,179) have not been provided for in the Statement of Financial Activities as they are due to be paid more than twelve months after the year end. They represent funds earmarked for continued support to certain existing beneficiaries, which are released when conditions attached to the grant are fulfilled.
The trustees regularly review cash flow projections for income and expenditure, to ensure that the level of disposable net assets is adequate and that the Trust is in a position to meet all its commitments. As at 5 April 2024, the Trust held total funds of £19.8 million (2023: £10.2 million). The trustees are not aware of any material uncertainties that would prevent the financial statements from being prepared on a going concern basis.
Investment Powers
The Trust Deed empowers the trustees to appoint investment advisers who have discretion to invest the funds of the Trust within guidelines established by the trustees.
Investment Policy and Performance
The Trust holds significant cash deposits to enable the Trust to draw on capital rapidly when required and also to avoid the need to draw on investments in times of market downturns. The remaining funds are held in a diversified portfolio of investments within Sarasin’s Endowment and Income & Reserves funds to generate unrestricted income and capital returns in accordance with the trustees’ guidelines.
The True Colours Trust’s Endowment fund portfolio rose by 10.4% (total return, net of fees) over the period, which was behind the composite benchmark return of 15.0%. The Trust’s Income & Reserves fund portfolio produced a total return, net of fees, of 4.4% which was behind the composite benchmark return of 5.6%.
Across both funds, we have seen positive returns after a tricky period where markets were contending with rising rates and inflation. Equities in particular have shown strength, whilst the extended length of time rates have been higher has continued the pressure on fixed income and correlated alternative investments. Gold has been strong, with heightened geopolitical and inflation risk seeing it hit new highs. The Trust’s underperformance relative to the benchmark is broadly explained by two elements: firstly, the significant concentration in equity markets, where most of the returns from the financial year have come from a handful of technology stocks, of which we have exposure but have not had an index weight. Secondly the alternatives fell to deep discounts to NAV, with the performance measured against a cash +2% benchmark. Returns from the Main portfolio remained ahead of the peer group as measured by the ARC Charity Steady Growth index.
The Trust’s investment portfolios earned a total income of £326,051 during the year (2023: £311,644).
Palliative Care Association of Malawi
Risk Assessment
The trustees have examined the major strategic, business and operational risks to which True Colours may be exposed. Through the joint office of the Sainsbury Family Charitable Trusts, systems are in place to adequately manage such potential risks as the trustees have identified. They continue to keep processes under review.
Trustees have identified the uncertainty of financial returns to constitute the Trust’s major financial risk. This is mitigated by having a diversified financial portfolio under the management of a major investment house. The trustees regularly review investment strategy and monitor financial performance. They also operate a grant distribution formula which helps to ensure the stability of resources for grant awards in any given year.
Another major risk is a misuse of funds by a charity beneficiary. To mitigate this risk, the awards are made following a thorough assessment and grants are regularly monitored; multi-year grant payments are conditional upon the receipt of satisfactory progress reports.
Staff Remuneration
The remuneration of the senior staff (including key management personnel) is reviewed by the trustees on an annual basis taking into account the requirements of their role and performance during the year. From time to time, the SFCT Management Committee benchmarks pay levels against comparable positions in similar organisations.
Charity and Public Benefit
Trustees are aware of the Charity Commission guidance on Public Benefit and confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to it. They consider the full information in this annual report (about the Trust’s aims, activities and achievements in the areas it supports) demonstrates the benefit to its beneficiaries, and through them to the public, that arise from those activities.
Fundraising
The Trust and its trustees are fully aware of the requirements and duties set out in the Charities (Protection and Social Investment) Act 2016. The Trust does not undertake fundraising from the general public and does not use professional fundraisers or commercial participators.
The income of the Trust is not bound by any regulatory scheme, and the Trust does not consider it necessary to comply with any voluntary code of practice relating to fundraising. We have received no complaints in relation to any fundraising activities. As we do not approach individuals for the purpose of raising funds, we do not have specific requirements related to fundraising activities, nor do we consider it necessary to design specific procedures to monitor such activities.
Charity Governance Code
Financial Overview of the Past Year
The trustees met four times during the year to make grants.
During the year, a donation of £10 million was received from The Gatsby Charitable Foundation and was added to the Trust’s expendable endowment. As a result of this, the net asset value of the Trust increased significantly, from £10.2 million at 5 April 2023 to £19.8 million at 5 April 2024.
The total income allocated to unrestricted funds for the year was £577,351 (2023: £321,367).
Trustees are aware of the Charity Governance Code (updated in 2020) which sets out the principles and recommended practice for good governance within the sector. The Trust has reviewed its governance arrangements against the principles within the code and believes that it is compliant with the code whilst maintaining its need to operate its governance efficiently.
During the year, trustees approved 57 grants totalling £2,549,985 (2023: £1,667,797), some of which are payable over more than one year. Payments made during the year totalled £1,515,601 (2023: £1,906,477). Grants approved and paid during the year may be analysed by value and percentage across the Trust’s grant-making categories as set out in the following table:
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Payments Made Grants Approved
% £ £ % Number
49 750,992 UK - Disabled Children & Children’s Palliative Care 1,590,050 62 14
39 586,571 Africa - Palliative Care (including Small Grants) 799,848 32 11
12 178,038 Small Grants UK and Sainsbury Archive 160,087 6 32
100 1,515,601 Total 2,549,985 100 57
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GRANTS APPROVED
UK – Disabled Children and Children’s Palliative Care – £1,590,050
Acorns Children's Hospice Trust - £32,539
Towards a six-month pilot to deliver 24/7 specialist advice services for children’s palliative care in the West Midlands.
Chelsea & Westminster Health Charity - £519,981 over five years
Towards Phase 3 of the National Lead Nurse in Neonatal Palliative Care Programme.
Contact - £47,960 (two grants)
Towards the costs of a piece of co-produced research into the social care and support needs of disabled children from black, Asian and minority ethnic groups; towards the costs of Listening Ear, a helpline for parents and carers.
Heard Organisation Ltd - £436,797 over three years (two grants)
Towards its work to change how people talk about and support children’s palliative care, to make it better for families; and towards its work to create flagship media content to demonstrate good framing of children’s palliative care.
Sarah Umar for Heart n Soul
Heart n Soul - £90,000 over three years
Towards the costs of the organisation’s work with children and young people.
Jessie May Trust - £195,000 over three years Towards the organisation’s core costs.
The Maypole Project - £30,000 over three years Towards the organisation’s core costs.
Muscular Dystrophy UK - £10,000
Towards updates for the Changing Places website and map.
Sibs - £193,523 over three years
Towards the charity’s work with young siblings.
True Colours Data Champion - £34,250 over two years (three grants)
Towards the continuation of the True Colours Data Champion role.
Africa – Palliative Care – £703,761
African Palliative Care Association - £600,000 over three years Towards the organisation’s core costs.
Island Hospice & Healthcare - £42,911 (three grants)
Towards the integration of palliative care into Zimbabwe’s public health system; towards its response to the cholera outbreak in Zimbabwe; and towards the organisation’s core costs.
Najojo Better Living Mission Association - £4,000 over two years Towards the organisation’s core costs.
Palliative Care Association of Malawi - £6,850 (three grants)
Towards the costs of wheelchairs for 10 palliative care patients; towards its audit costs in 2024; and towards equipment to support the integration of palliative care into the health system.
University of Navarra – Atlantes Global Observatory of Palliative Care - £50,000 over two years
Towards a researcher for one year to analyse, document and promote the comprehensive assessment of palliative care development across Africa.
Palliative Care Association of Malawi
19 O
Small Grants Africa – £96,087
The Africa Small Grants Programme supports the development of local palliative care services across the continent. It is administered by the African Palliative Care Association (APCA) which publicises the scheme, supports potential applicants and reviews applications with the help of a panel of independent experts.
This year, Trustees made two grants to APCA for regranting to Small Grant recipients, amounting to £96,087. These funds were re-granted to 21 organisations through the Africa Small Grants Programme and are listed here:
Training and Sensitisation in Palliative Care
Association Senegalaise de Soins Palliatifs et d’accompagnement (ASSOPA), Senegal
GreAs, Burkina Faso
Hospice Ethiopia Kabale Christian Centre, Uganda Mengbwa: Actions Jeunes, Cameroon Ndimoyo Palliative Care Trust, Malawi Ongata Ngong Palliative Care Community Organization, Kenya
Organisation Jeunesse pour le Développement Communautaire (ORJEDEC), Togo
Sikhethimpilo, Zimbabwe
Uganda Reach the Aged Association, via the African Palliative Care Association
Equipment and Palliative Care Medicines
Christian Way Church, Malawi Grahamstown Hospice, South Africa Hands on Care, The Gambia Ladies of Hope, South Africa Msunduzi Hospice Association, South Africa Nyeri Hospice, Kenya
Overstrand Hospice, South Africa Palliative Care Association of Zambia St Helena Sandveld Hospice, South Africa The Sisters of Our Lady Queen of Africa, Rwanda
Providing paediatric palliative care
MCK Meru North Disability Community Centre, Kenya
Providing palliative care at community level Bumbuli Lutheran Hospital Palliative Care Unit, Tanzania
Small Grants UK – £160,087
The Small Grants UK programme provides grants of up to £10,000 to help smaller organisations develop and deliver programmes. We know that the work of these organisations, which are often locally-led, makes a huge difference to the lives of children and families by providing face-to-face, personalised support.
Grants are awarded towards a range of projects including activities for disabled children, siblings’ projects, bereavement support, specialised play equipment, minibuses, multi-sensory rooms, hydrotherapy pools and respite which supports the whole family. More information on the programme can be found on page 11.
This year, we made a total of 32 grants to smaller organisations amounting to £160,087 as listed below:
Activities and support for disabled children and young people and their families
Aiming Higher for the Disabled Community - £4,000 Arts Minded CIC - £8,250 Boomerang Multi-Sensory Play Centre - £4,460 British Disabled Angling Association - £4,900 CHIPS - Children's Integrated Playschemes £4,487 Embracing Arts - £3,657 Escape Support Group - £4,980 Face Everything and Rise (FEAR) - £10,000 Forward Facing - £5,000
Aiming Higher Charity
Friends and Families - Empowering Families with Disabled Children - £7,500
Friends for Leisure - £3,000 Interplay Theatre Trust - £5,000
Friends and Families
Javan Coker Foundation - £4,500 Pepper Foundation - £10,000 SEN Family Saturdays - £2,500 Sir Stanley Matthews Foundation - £1,100 Skills and Volunteering Cymru - £4,175 SNAP Specialist Playgroup - £5,000 The A.P.E Project CIC - £5,000 The Mentor Ring - £3,500 Thomas's Fund - £9,527 Together Space CIC - £6,000 UnderWired Productions - £5,000 Worcestershire Parents & Carers Community - £5,000
Forward Facing
Jeremiah’s Journey
Family support for parents of disabled children and children with life limiting conditions Special Families - £3,793 Spoons - £5,000
Bereavement support
Jeremiah's Journey - £3,758
Specialised equipment, including sensory and play equipment and accessible toilets
Aiofe’s Sensory Bus
Aoife’s Sensory Bus Charity - £5,000 Clydesdale Riding for the Disabled - £1,500 Learning Library - £8,000 Life and Soul Kitchen - £3,500 Sheffield Steelers Wheelchair Basketball Club - £3,000
Cancelled Grants
Grants totaling £46,820 (2023: £0) were cancelled during the financial year as they were no longer required for the purposes for which they were awarded.
Photo generously provided by parents from Spoons
| Trustees Registered Ofce Principal Ofcers Bankers Solicitors Auditors Investment Advisers Objects |
LEGAL AND ADMINISTRATIVE The True Colours Trust was established under a Trust Deed dated 20 August 2001 and became a registered charity with the Charity Commission in England and Wales on 21 December 2001 (registraton number 1089893). Lucy Sainsbury (Chair) Tim Price Dominic Flynn David Wood The Peak, 5 Wilton Road London SW1V 1AP Karen Everet, Chief Executve Ofcer of the Sainsbury Family Charitable Trusts Catherine Korris, (formerly Catherine Gathercole) Executve of The True Colours Trust Jo Ecclestone Ford, Strategic Lead for The True Colours Trust Royal Bank of Scotland 119 - 121 Victoria Street London SW1E 6RA BDB Pitmans LLP 1 Bartholomew Close London EC1 7BL Sayer Vincent LLP 110 Golden Lane London EC1Y 0TG Sarasin & Partners LLP Juxon House, 100 St Paul’s Churchyard London EC4M 8BU The objects of the Trust as given in the Trust Deed are for general charitable purposes. |
|---|---|
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the period and of its financial position at the end of the period. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:
-
➤ Select suitable accounting policies and then apply them consistently
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➤ Observe the methods and principles in the Charities SORP
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➤ Make judgements and estimates that are reasonable and prudent
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➤ State whether applicable UK Accounting Standards and statements of recommended practice have been followed,
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subject to any material departures disclosed and explained in the financial statements
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➤ Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will
-
continue in operation
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The Trustees’ Report has been approved by the trustees on 5th November 2024 and signed on their behalf by:
Trustee
Lucy Sainsbury
INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE TRUE COLOURS TRUST
Opinion
We have audited the financial statements of The True Colours Trust (the ‘charity’) for the year ended 5 April 2024 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United The Kingdom Accounting Standards, including FRS 102 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 5 April 2024 and of its incoming resources and application of resources, 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 Charities Act 2011
Basis for opinion
We conducted our audit in accordance with International Standards on 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 trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on The True Colours Trust’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other Information
The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. 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.
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 course of 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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Independent auditor’s report to the trustees of the True Colours Trust continued
Matters on which we are required to
report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
• The information given in the trustees’ annual report is inconsistent in any material respect with the financial statements;
• Sufficient accounting records have not been kept; or • The financial statements are not in agreement with the accounting records and returns; or
- We have not received all the information and explanations we require for our audit
Responsibilities of trustees
As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, 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 the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the 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.
Auditor’s responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.
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.
Irregularities, including fraud, are instances of noncompliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.
Capability of the audit in
detecting irregularities
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:
• We enquired of management and the board of trustees, which included obtaining and reviewing supporting documentation, concerning the charity’s policies and procedures relating to:
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Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance;
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Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud;
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The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
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We inspected the minutes of meetings of those charged with governance.
• We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience.
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We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit.
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We reviewed any reports made to regulators.
Independent auditor’s report to the trustees of the True Colours Trust continued
• We reviewed the financial statement disclosures and tested these to supporting. documentation to assess compliance with applicable laws and regulations. • We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
• In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilites This description forms part of our auditor’s report.
Use of our report
This report is made solely to the charity's trustees as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an 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 and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
09 January 2025 Sayer Vincent LLP, Statutory Auditor 110 Golden Lane, LONDON, EC1Y 0TG
Sayer Vincent LLP is eligible to act as auditor in terms of section 1212 of the Companies Act 2006
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024
| Notes Income and endowment from: Donatons and gifs Investments 2 Bank deposit interest Total income Expenditure on: Raising funds: Investment management costs Charitable actvites Grant-making: Grant expenditure 3 Grant related support costs 4 Cost of grant-making Total expenditure Net (expenditure)/income before gains/(losses) on investments Net gains/(losses) on investments 7 Transfers between funds 10 Net movement in funds Reconciliaton of funds Total funds brought forward Total funds carried forward |
Total Funds 2023 Total Funds 2024 Expendable Endowment Unrestricted Funds |
|---|---|
| £ £ £ £ - 10,000,000 10,000,000 2,718,750 326,051 - 326,051 311,644 251,300 - 251,300 9,723 |
|
| 577,351 10,000,000 10,577,351_3,040,117_ | |
| - 55,011 55,011 55,232 1,189,386 - 1,189,386_2,069,650_ 332,505 - 332,505 334,041 1,521,891 - 1,521,891 2,403,691 |
|
| 1,521,891 55,011 1,576,902_2,458,923_ |
|
| (944,540) 9,944,989 9,000,449_581,194_ - 578,655 578,655_(844,903)_ 944,540 (944,540) - - |
|
| - 9,579,104 9,579,104_(263,709) - 10,208,785 10,208,785_10,472,494 - 19,787,889 19,787,889_10,208,785_ |
The notes on pages 31 to 38 form part of these accounts.
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above.
BALANCE SHEET AS AT 5 APRIL 2024
| FIXED ASSETS Tangible fxed assets Investments CURRENT ASSETS Debtors Cash at bank and in hand CURRENT LIABILITIES Creditors- amounts falling due within 1 year NET CURRENT ASSETS NET ASSETS CAPITAL FUNDS Expendable endowment INCOME FUNDS Unrestricted funds |
Notes | 2024 | 2023 | |
|---|---|---|---|---|
| 6 7 8 9 10 10 |
£ 110,434 5,402,647 5,513,081 1,262,274 |
£ 8,218 15,528,864 15,537,082 4,250,807 19,787,889 19,787,889 - 19,787,889 |
£ 10,957 10,005,503 |
|
| 10,016,460 | ||||
| 348,467 1,527,550 |
||||
| 1,876,017 1,683,692 |
||||
| 192,325 | ||||
| 10,208,785 | ||||
| 10,208,785 - |
||||
| 10,208,785 |
The financial statements were approved and authorised for issue by the trustees on 5th November 2024 and were signed on their behalf by:
Lucy Sainsbury
The notes on pages 31 to 38 form part of these accounts.
Trustee
STATEMENT OF CASH FLOW FOR THE YEAR ENDED 5 APRIL 2024
| Cash fows from operatng actvites: Net cash provided by operatng actvites Cash fows from investng actvites: Purchase of investments Fees deducted at source Dividends and Interest Net cash provided by investng actvites Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Reconciliaton of net cash provided by/(used in) operatng actvites Net movement in funds (as per the Statement of Financial Actvites) (Gains)/losses on investments Dividends and interest Depreciaton charge Decrease/(increase) in debtors (Decrease)/increase in creditors Net cash provided by operatng actvites Analysis of the cash and cash equivalents Cash at bank and in hand Investment cash Term deposits |
2024 |
2024 £ 8,242,452 - 75,727 577,351 653,078 8,895,530 1,532,558 10,428,088 2024 £ 9,579,104 (578,655) (577,351) 2,739 238,033 (421,418) 8,242,452 2023 |
|||
|---|---|---|---|---|---|
| 2023 | |||||
| £ 184,358 (16,758) 76,312 321,367 |
|||||
| 380,921 | |||||
| 565,279 967,279 |
|||||
| 1,532,558 | |||||
| 2023 | |||||
| £ (263,709) 844,903 (321,367) 2,739 (270,825) 192,617 |
|||||
| 184,358 | |||||
| Change in year |
|||||
| £ 5,402,647 25,441 5,000,000 |
£ 1,527,550 5,008 - |
£ 3,875,097 20,433 5,000,000 |
|||
| 10,428,088 | 1,532,558 | 8,895,530 |
The notes on pages 31 to 38 form part of these accounts.
NOTES TO THE ACCOUNTS
1. PRINCIPAL ACCOUNTING POLICIES
The True Colours Trust is an unincorporated charity, registered in England and Wales with the Charity Commission (registration number 1089893). The address of the registered office is The Peak, 5 Wilton Road, London, SW1V 1AP.
a) Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair view' and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Trust constitutes a public benefit entity as defined by FRS102.
In the view of the Trustees, there are no material uncertainties casting doubt on the going concern of the charity. The endowment assets of the Trust remain significant, and the Trust will continue to pay out to its beneficiaries in accordance with the Trust's objects.
b) Income
Income is shown gross, including the associated tax credit unless the tax so deducted is considered irrecoverable.
Dividends are included by reference to their due dates.
Interest is recorded when it is receivable.
c) Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Costs of generating funds represent amounts paid to the Trust's external investment advisors.
Charitable activities expenditure comprises grants and donations awarded by the Trustees in accordance with the criteria set out in the Trust Deed, together with grant related support costs.
Grants payable are made to third parties in furtherance of the charity's objects. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and that any condition attaching to the grant is outside of the control of the charity.
The view of the Trustees is that any instalments payable within 12 months of the reporting date are expected to be paid regardless of the status of attached conditions and so these are accrued. Any payments due in more than 12 months from the reporting date, where conditions exist that have not been met at the reporting date, are not accrued but are reported as an unaccrued future commitment.
Grant related support costs represent staff, office and governance costs incurred in managing the grant award programme. They include a share of the staff and office costs of the joint offices of the Sainsbury Family Charitable Trusts, which are allocated in proportion to the time spent on Trust matters and grants paid.
Notes to the accounts continued
Contributions to defined contribution pension plans are charged to the Statement of Financial Activities in the period to which they relate.
d) Investments
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading “Net gains/(losses) on investments” in the statement of financial activities. The charity does not acquire put options, derivatives or other complex financial instruments.
e) Financial instruments
The charity has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
g) Fixed assets
Fixed assets are capitalised where the purchase price exceeds £5,000, and depreciated at rates which reflect their useful life to the Trust. Leasehold improvements are depreciated over the outstanding life of the lease at the time the work was completed. The following rates have been used:
Leasehold improvements - 14.28% per annum
h) Critical accounting judgements and key sources of estimation uncertainty
ln the application of the Trust's accounting policies, which are described in the notes above, Trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects the current and future periods.
f) Cash and cash equivalents
Cash at bank and cash 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.
ln the view of the Trustees, no assumptions concerning the future or estimation uncertainty affecting assets and liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.
2. INCOME FROM INVESTMENTS
Income received on investments may be analysed as follows:
| Sarasin mult assets | 2024 2023 |
|---|---|
| £ % £ % 326,051 100 311,644 100% |
|
| 326,051 100 311,644 100% |
Notes to the accounts continued
3. GRANTS PAYABLE
| 3 GRANTS PAYABLE | |||
|---|---|---|---|
| . Reconciliaton of grants payable: Commitments at 6 April 2023 Grants not accrued at 6 April 2023 Grants approved in the year Grants cancelled or refunded Grants not accrued at 5 April 2024 Grants payable for the year Grants paid during the year Commitments at 5 April 2024 Commitments at 5 April 2024 are payable as follows: Within one year (note 9) |
2024 | 2023 | |
| £ £ 1,575,889 317,179 2,549,985 (46,820) (1,630,958) 1,189,386 (1,515,601) 1,249,674 2024 £ 1,249,674 |
£ 719,032 1,667,797 - (317,179) |
£ 1,412,716 |
|
| 2,069,650 (1,906,477) |
|||
| 1,575,889 | |||
| 2023 | |||
| £ 1,575,889 |
Commitments
In addition to the amounts commited and accrued noted above, the Trustees have also authorised certain grants which are subject to the recipient fulfilling certain conditions. The total amount authorised but not accrued as expenditure at 5 April 2024 was £1,630,958 (2023: £317,179).
A list of grants payable is included in Appendix A.
4. ALLOCATION OF SUPPORT COSTS
| Staf costs Share of joint ofce costs Direct costs including travel Legal and professional fees Consultancy Depreciaton Auditors’ remuneraton* |
Grant Making Governance 2024 Total 2023 Total |
|---|---|
| £ £ £ £ 229,094 1,832 230,926 228,576 50,542 - 50,542 62,890 24,898 - 24,898 16,639 8,220 - 8,220 14,972 6,000 - 6,000 65 2,739 - 2,739 2,739 - 9,180 9,180 8,160 |
|
| 321,493 11,012 332,505_334,041_ |
*Auditor's remuneration excluding VAT was £7,650 (2023: £6,800).
Included within support costs for 2023 were governance costs totalling £9,848. This was comprised of staff costs of £1,688 and auditor's remuneration of £8,160.
During the year, no Trustees received any remuneration (2023: none).
Notes to the accounts continued
5. ANALYSIS OF STAFF COSTS
Wages and salaries Social security costs Other pension costs |
2024 2023 |
|---|---|
| £ £ 188,105 187,704 21,144 21,546 21,677_19,326_ |
|
| 230,926_228,576_ |
The Trust is one of the Sainsbury Family Charitable Trusts which share a joint administration at the Registered Office. 2.2% of the total support and administration costs of these trusts have been allocated to the True Colours Trust (2023: 2.5%), including a proportionate share of the costs of employing the total number of staff serving in the office in 2023/24.
The actual number of staff employed during the year was 7, all on a part-time basis (2023: 7). This equates to 2.5 fulltime employees (2023: 2.5). The Trust considers its key management personnel to comprise the Principal Officers. The total employment benefits, including employer contributions to group personal pensions, of those key management personnel, were £139,214 (2023: £118,564).
The number of employees whose total employment benefits (excluding employer pension costs) for services provided to the Trust exceeded £60,000 was as follows: 2024: one employee who earned between £60,000 - £70,000 (2023: one).
6. TANGIBLE FIXED ASSETS
Leasehold Improvements
| 6. TANGIBLE FIXED ASSETS |
|
|---|---|
| Leasehold Improvements Cost At 6 April 2023 Disposals Cost at 5 April 2024 Depreciaton At 6 April 2023 Charge for the year Disposals At 5 April 2024 Net Book Value At 5 April 2024 Net Book Value At 5 April 2023 |
2024 2023 |
| £ £ 19,174 67,974 - (48,800) |
|
| 19,174 19,174 |
|
| 8,217 54,278 2,739 2,739 - (48,800) |
|
| 10,956 8,217 |
|
| 8,218 10,957 |
|
| 10,957 13,696 |
Notes to the accounts continued
7. FIXED ASSET INVESTMENTS
| Market value at 6 April 2023 Add: Acquisitons at cost Less: Fees deducted at source Net gains/(losses) on investments Market value at 5 April 2024 Investment cash Term deposits Total Investments |
2024 2023 |
|---|---|
| £ £ 10,000,495 10,904,952 - 16,758 (75,727) (76,312) 578,655 (844,903) |
|
| 10,503,423 10,000,495 |
|
| 25,441 5,008 5,000,000 - |
|
| 15,528,864 10,005,503 |
The investments held as at 5 April 2024 were as follows:
| Sarasin mult assets | 2024 2023 |
|---|---|
| Cost Market Value Cost Market Value |
|
| £ £ £ £ 9,806,533 10,503,423 9,806,533 10,000,495 |
|
| 9,806,533 10,503,423 9,806,533 10,000,495 |
8. DEBTORS
| Gif Aid Debtor Accrued Income Other debtors |
2024 2023 £ £ |
|---|---|
| - 268,750 79,367 74,513 31,067 5,204 |
|
| 110,434 348,467 |
9. CREDITORS
| 9. CREDITORS | |
|---|---|
| Grants payable within one year Professional charges Other creditors |
2024 2023 |
| £ £ 1,249,674 1,575,889 12,600 14,760 - 93,043 |
|
| 1,262,274 1,683,692 |
Notes to the accounts continued
10. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Fund balances at 5 April 2024 are represented by: Tangible fxed assets Investments Current assets Current liabilites Total net assets Movement in the year Opening balance as at 5 April 2023 Total income and endowments Cost of raising funds Cost of grant-making Net losses on investments Transfers between funds Closing balance as at 5 April 2024* |
Unrestricted Funds Expendable Endowment Totals 2024 |
|---|---|
| £ £ £ - 8,218 8,218 - 15,528,864 15,528,864 1,262,274 4,250,807 5,513,081 (1,262,274) - (1,262,274) |
|
| - 19,787,889 19,787,889 |
|
| - 1 0,208,785 10,208,785 577,351 10,000,000 10,577,351 - (55,011) (55,011) (1,521,891) - (1,521,891) - 578,655 578,655 944,540 (944,540) - |
|
| - 19,787,889 19,787,889 |
- During the year there was a deficit of income over expenditure on the unrestricted funds of £944,540 (2023: £2,082,324). This has been funded by a transfer from Expendable Endowment.
11. COMPARATIVE ANALYSIS OF NET ASSETS BETWEEN FUNDS FOR THE YEAR ENDED 5 APRIL 2023
| Fund balances at 5 April 2023 are represented by: Tangible fxed assets Investments Current assets Current liabilites Total net assets Movement in the year Opening balance as at 5 April 2022 Total income and endowments Cost of raising funds Cost of grant-making Net losses on investments Transfers between funds Closing balance as at 5 April 2023* |
Totals 2023 Expendable Endowment Unrestricted Funds |
|---|---|
| £ £ £ - 10,957 10,957 - 10,005,503 10,005,503 1,683,692 192,325 1,876,017 (1,683,692) - (1,683,692) |
|
| - 10,208,785 10,208,785 |
|
| - 10,472,494 10,472,494 321,367 2,718,750 3,040,117 - (55,232) (55,232) (2,403,691) - (2,403,691) - (844,903) (844,903) 2,082,324 (2,082,324) - |
|
| - 10,208,785 10,208,785 |
- During the year there was a deficit of income over expenditure on the unrestricted funds of £2,082,324 which was funded by a transfer from Expendable Endowment.
Notes to the accounts continued
12. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023
| Income and Endowment from: Gif of expendable endowment Investments Bank deposit interest Total income Expenditure on: Raising funds: Investment management costs Charitable actvites Grant-making: Grant expenditure Grant related support costs Cost of Grant-making Total expenditure Net (expenditure)/income before losses on investments Net losses on investments Transfers between funds Net movement in funds Reconciliaton of funds Total funds brought forward Total funds carried forward |
£ £ £ - 2,718,750 2,718,750 311,644 - 311,644 9,723 - 9,723 Total Funds 2023 Expendable Endowment Unrestricted Funds |
|---|---|
| 321,367 2,718,750 3,040,117 |
|
| - 55,232 55,232 2,069,650 - 2,069,650 334,041 - 334,041 |
|
| 2,403,691 - 2,403,691 |
|
| 2,403,691 55,232 2,458,923 |
|
| (2,082,324) 2,663,518 581,194 - (844,903) (844,903) 2,082,324 (2,082,324) - |
|
| - (263,709) (263,709) - 10,472,494 10,472,494 |
|
| - 10,208,785 10,208,785 |
13. RELATED PARTY TRANSACTIONS
Included in grant-related support costs is £8,220 payable for legal services to BDB Pitmans LLP (2023: £14,972), a firm in which Mr D Flynn is a partner.
Notes to the accounts continued
APPENDIX A
GRANTS PAYABLE
The amount payable for the year ended 5 April 2024 consisted of the following:
| Notes to the accounts contnued APPENDIX A GRANTS PAYABLE The amount payable for the year ended 5 April 2024 consisted of the following: |
||
|---|---|---|
| UK– Disabled Children & Children’s Palliatve Care | £ | Acorns |
| Children's Hospice Trust | 32,539 | |
| Breathing Spaces | 50,000 | |
| Chelsea & Westminster Health Charity | 93,418 | |
| Childhood Bereavement Network | 70,000 | |
| Contact a Family | 47,960 | |
| Heard Organisaton Ltd (formerly On Road Media) | 116,316 | |
| Heart n Soul | 30,000 | |
| Jessie May Trust | 65,000 | |
| Muscular Dystrophy UK | 10,000 | |
| Sibs | 63,107 | |
| The Maypole Project | 20,000 | |
| True Colours Data Champion | 20,750 | |
| Africa– Palliatve Care (including Small Grants) | ||
| African Palliatve Care Associaton | 298,268 | |
| Island Hospice & Healthcare | 42,911 | |
| Najojo Beter Living Mission Associaton | 4,000 | |
| Palliatve Care Associaton of Malawi | 15,550 | |
| University of Navarra - Atlantes Global Observatory of Palliatve Care | 50,000 | |
| Small Grants UK and Sainsbury Archive | ||
| Grants up to £10,000 were payable totalling | 159,567 | |
| Total grants payable per Statement of Financial Actvites | 1,189,386 | |
| The amount payable for the year ended 5 April 2023 consisted of the following: | ||
| UK– Disabled Children & Children’s Palliatve Care | £ | |
| Chelsea & Westminster Health Charity | 126,609 | |
| Child Bereavement UK | 18,000 | |
| Childhood Bereavement Network | 73,334 | |
| Great Ormond Street Hospital Children's Charity | 250,000 | |
| Heard Organisaton Ltd (formerly On Road Media) | 232,808 | |
| Jessie May Trust | 65,000 | |
| King’s College London – Cicely Saunders Insttute | 107,113 | |
| King's College Hospital Charity | 120,000 | |
| Medical Mediaton Foundaton | 17,460 | |
| Sibs | 62,496 | |
| Together for Short Lives | 69,924 | |
| Africa– Palliatve Care (including Small Grants) | ||
| African Palliatve Care Associaton | 323,525 | |
| Island Hospice & Healthcare | 146,263 | |
| Palliatve Care Associaton of Malawi | 60,000 | |
| Signal | 155,002 | |
| Small Grants UK and Sainsbury Archive | ||
| Grants up to £10,000 were payable totalling | 242,116 | |
| Total grants payable per Statement of Financial Actvites | 2,069,650 |