Charity Registration No. 1096622 Company Registration No. 04557686 {England and Wales) THE SUSSEX SNOWDROP TRUST (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 *A4DER0T4• 2010912021 COMPANIES HOVSE A11
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THE SUSSEX SNOWDROP TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees D Levantine- Chair C Bechelet-carter N Cockram J Garbett A Jago V Sedd J Tickell L Pendlebury (resigned 5 August 20211 (appoinled 11 February 20211 Secretary D Levanline Charlty number 1096622 Company number 04557686 RÈgl$tered offl¢È No. 3 Wlliam Booker Yard The Street Walberton Arundel Wesl Sussex 8N18 OPF IndÈpÈndènt Examiners Walling 8 Hirst "MIted caleY Place 15 Cawley Road Chichester Wesl Sussex P019 1UZ Bankers Uoyds Bank plc 10 East Street Chichester Wesl Sussex P019 1HJ Soli¢ltor$ Imn Mitchell LLP Investment advlsors Sanlam Private Invesknents IUKI Ltd Exchange Building Sl. Johns Street Chichester West Su55ex P019 1UP
THE SUSSEX SNOWDROP TRUST CONTENTS Pag• Chaiman's report Trustees. report Stslement of truslees. reSponbIlItieS Independent eXInerS. report ststement of financial activitss Balance sheet Notes to the financial statements 9-18
THE SUSSEX SNOWDROP TRUST CHAIRMAN'S REPORT FOR THE YEAR ENDED 31 MARCH 2021 As a charity. Ihe past year has been challenging in every rx)$sible way. however, we have conlinually found ways lo engage wlh our supporters and organi5e various fundraising events. Our priority is lo ensure that we can conb.nue to fund the care provided by the Snowdrop Trust and the Care al Home Team. and that its future is secure. We owe a considerable debt of gratitude to all our supporters who donate so generously lo The Sussex Snowdrop Trust,. to our Volunteers who give time and empathy for the children who are on the Snowdrop Pathway. children who have been diagnosed wth 8 15fe-threatening illness and who benefit from the support that they, and their farrhily, are so grateful to receive from Snowdrop. Our dedicated Snowdrop Care at Homè Team of Nurses, Counsellors, Health Care Assistants and the Walberton Office staff. consislenlly go that extra mile lo help the families through the most diificult time of their lives. We are extremely grateful to them and proud of what they have co11eclively achieved for our charity. Two Health Care Assistants, Lisa and Zara. joined the Snowdrop Care at Home Team in the middle of the pandemic. They were unable to meet up with the children and had to work virtually by communicating via computers and iPads. Snowdrop provided cake mixes. arts and crafts and various other items, which were sent out lo the children so that they could work and play th the HCA's Vlrtually. As the year has progressed, they have sIo¥Y but surely been able to meet up with the children and their families, 50 Ihal they could build up a relationship w"rf(h them. It is very important for the HCAS to eam the trust of a panI or carer. so that they are comfortable having them in their home. plawng or even cooking with the children. and lo gain the confidence to allow their child to be tsken out. The commitment shown by the Snowdrop Care at Home Team, throughout the past 28 years since we founded Snowdrop, has been exceptional. Parents thi$ help, guidance, kindness and understanding because it is as vrtal now as it was then. To make sure that we continue lo raise the furKls necessary to provide thi5 service, we have needed lo lo new and innovative ways to engage our community. Supporters are rW able to make donations via our updated website, directly wth the Walberton office on the 'cafd' machine and to keep in touch via meetings and AGMS on Zoom and enjoy special talks which we have organised on a Wynar. The fvnd-raising challenge5 sel for supporters during these strange ts.mes have included". 64 mile5 in a month thallenye. a photograph and painting competition, 70,000 slep challenge set by a Snowdrop child. We Oo not receive any govefnment lundirvJ and the loss of value from our investment portr10, Covid hes had a negative effect on the level of income we have received. We must therefore conb.nue to erKourage donation5 from our communily and reach oul to infomi them of the work of the charity. One Snowdrop mother whose son had been (agnosed Nmth a brain tumour and had previously donated to Srtowdrop al several school events. said, -1 knew of 'Srwdrop' and Ihal rt is a children's charity. but until I needed il. I didn't know what it dKI". We hear t5 so often and will be exploring more ways of profflots.ng the TrLSSt. Mrs Diana L - Chairm n and CcpFounder Dated.. 15.3.3c)2)
THE SUSSEX SNOWDROP TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2021 The trustees present their rep(Yl and financial slements for the year ended 31 March 2021. The aontS have been prepared in accordance with the accounb.ng policies set out in note 1 to the accounts and comply with the Trusfs Memorandum and Arb"cle5 ofAssociation, Ihe Companies Act 2006 and the Charilies Commission Accounting and Reporting by Charities Stslemenl of Recommended Practice IFRS 1021., issued in March 2005 and revised January 2016. For accounting periods commencing on or after 1 April 2008, there is also a requirement for the Trust to report on how it sat'sfies Ihe Publi¢ Benefit test introduced by the Charities Act 2006. objectiv and a¢tlvllle$ The objects of the charitabte cOmpY are set out in its Memorandum and Articles of Assc¢iation, and may be summarised as fdlows". To alleviate the ¢ondilior15 of lrfe among51 people vtho are caring or who have cared for children or young people aged from o- 19 years with life thfealening illnesses and who are already in needy ¢ir¢umslan¢&s,' and ofdependents of carers. being dependents t•tho are themselves in needy circumstan¢es', and. for that purpose. to promote the material wdfare of such (er5 as aforesabd. To support, emotionally and finanaaTly. famih.es vthere there has been unexpected bereavement of a child or young person from o- 19 years. To relieve and alleviate. and to advance. promote, encourage and assist in the relief or alleviation of all kinds ol mental, physical infifftity, sickness. disablement or handicap including menlal illness, attributable lo caring. amongst carer5. and those persons ts Offl they are caring and have eared and the dependents of such car5. To advance education cOeming caring of such c¥ers and the general public. The trustees confim) Ihat they have referred to the gui(lance contained in Ihe Charity Commission's general guidance on publi¢ benefit wn reviewng the Trusys aims and objecb'ves and in planning future aclivibes and setting polKies f the year. The Tnjsl carried out these oty'eclwes by provi¢Jing fundirvJ to individus to SLI)Pt caring and equipment for the advancement of education. Achievements and p•rfornian Financial review The charitable company continued to SLuessfully operate the Trusfs variou5 activities. and lo raise SLrfficient funds lo enable rt lo carry foward its work at the level of ackn.vity anbcipaled by the trustees. All investments held by the Trust were a¢quire11 in accordance wth the powers available to the Inlstees. At 31st March 2021. and at the time of writirvJ. the charitable compan$ financial posrtion was satisfactory. The Iruslees have appointed Sanlam Private Investments IUKI Ltd to manage ils investment portfolio. The management of the portfolio is al the discretion of the investment ao*isors butwth a moderate risk level sel by the trustees. The net surplus in the Statement of Financial Actwibes for the year is £218.706 (2020.. deficit £328,094). Total income for the year is £312.162 (2020: £390.9341. Totsl expenditure is £484,17512020.' £494,142). A gain on investments in the year is £390.719 {2020'. Loss £223.8661. Total funds at the end of the year were £2,404.400 of which £5.015 are restricted tunds. Free reserves at the year end are £2,398,109.
THE SUSSEX SNOWDROP TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Reserves Policy As carb be seen from the accounts, the Trust had a healthy balance on reserves due lo the on-going efforts of our supporters. The trustee5 have Gonsidered the levd of reserve5. taking into acco1 the folknw.ng matters." Money should only be kept in reserve fot specific reasons - il is clear that sensible planning for annual expenditure and responsibility for other (including employees) is important., A need to cover the NHS saaries for the Care at Home Team forthetemi ofthe Sel¢e Level Agreement, In addition to also cover the Walberton staff based on the temis of their contracts; There was a gener wish lo be able to maintsin the cuffent level of assistance to Snowdrop families. 11 is the policy of the Trust to hold in seThe$ the equtvalent of one yearfs general running costs and an additional amount to cover the NHS contracted peri(Kl and a fvrther amount to ¢over the employees of the Trust, as per the lemis of their employment ¢{traCts. This poliw will be reviewed annually. Taking all of the above into consideration, the trustees consider that the level of free reserves at 31st March 2021 of £2.398,109 is in line with its policy on reseNes. Inv•stm•nt policy The Charity seeks lo produce the best financial retum V+ithin an acceptable level of risk. The investment objective bs lo generate income from the investmen15 to support the Charity's running costs and capital growth over the long terrn so that special projec15 can be lunded as and when they arise. The assets can be invested widely and should be diveisified across asset classes arKI geographs. Asset classes could include Cash, bonds. e9e$. wopety. hed9e fttnds. structured produ¢ls, private equity, commodities and any other asset that is deemed suitable by the Charity, with a balanced 14 of 7) risk mandale. bul the trustees preclude investing in companies assoaaled wth Tobacco, armaments Inon-UK listed companies), Pomography, and Gambling. The Chanty's PiCY is to review the ap[ntrnent of the Investment Management Firm on a fiv year cycle. Risk Managemont The trustees have examined the major stralegic. busrness and operational risks which the charitable company faces, and confirni that Systems have been estsblished to mitigate su¢h risks_ Structure. governance and management The goveming body of the charitable company is the Board of Directors, vtho are also trustees. The board meet On a month. The board elects the Chairman. All memb5 give their tsme cfft a voluntary basis. New trustees are made familiar wlh their legal obligations under charity and company law, the contents of the Memoran¢Jum and Articles of Asswab"on. the ct%nmrttee and decision making process and the recent financial performance of the charity. Trustees are encouraged lo attend appropriate extemal training evenls where these will facilitate the undertaking of th[ rde. The liuslees. who are also the direct¢)rs kn the purpose of company law. arKI who served during the year and up to the dale of signature of the financi statements we". D Levantine~ Chair C Be¢helel-Carter N Cockram J Garbett A Jago V Seddon J Tickell L Pendlebury (resigned S ALh3USt 2021) (appointed 11 FebTuary 2021)
THE SUSSEX SNOWDROP TRUST TRUSTEES, REPORT IINCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 The board appoints a team of professional staff to Try QLrt the day to day operations of the charity. Key staff being as follows.. Office administrators Fundraising. Media & Markebng Manager- Fundraising & Events Assistant- G Fulchei Office Administrator- L Johnson Finance Manager- M Wi1kinson Finance Manager- E Hanks (made redundant Augu512020) (resigned September 20201 (appointed December 20201 Snowdrop Care At Home T•am Community Paediatric Nurses- L Watling. N Pawley. P Freer. J Barnes-Andrews Heath Care Assistants - L Ingram. Zara Green Family Support Counsellor- P Portway Office Administrator- V Gray Future plans To ensure that the charity has the SLtfficient funds to pay the wages of the Snowdrop Care at Home Team with rigorous fundraising wthin the Comrnunty vMth events and encouraging donations. This report has been prepared in aCdanCe the prowsions of the Companies Act 20C6 relating to small companies. The Iruslees. feport was a roved 'Ihe Board trustees. vantine Trusteè Dated.. IS.3,2(3&1.
THE SUSSEX SNOWDROP TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 The trustees, who are also the directors of The Sussex Snowdrop Trust for the purpose of wmpany law. are responsible for preparing the Iruslees. Report and the accounts in aceordanee with applieable law and United Kingdoni Accounting Standards (United "ngdoM Generalty Accepted Aceounling Practice}. Company law requires the trustees to prepare accounts for each financ1 year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure. of the ¢harilable Company for that year. In preparing these accounts, the trustees are required to". select surtable accounting poIleS and then appEy them consistentty: - observe the rrethod5 and pnnciples in the Charitses SORP.. make judgements and estimates that are reasonable and prudent" and prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will conlinve in operation. The trustees a responsible for keepin9 adequate accounts.ng records that dcloSe reasonable accuracy at any time the financ1 posil¢on of the charity and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the ehartty and hence for taking reasonable steps for the PTeventyon and detects.on of fraud and other irregularities. The twstees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website in accordance with legislation in the United Kingd¢)m goveming the pparatIon and dissemination of financial slalemenls.
THE SUSSEX SNOWDROP TRUST INDEPENDENT EXAMINERS. REPORT TO THE TRUSTEES OF THE SUSSEX SNOVVDROP TRUST I report lo the trustees on my examination of the acc(ntS of the above charitsble company for the year ended 31 March 2021. Responslbilities and basis of report As the charity's trustees of the charitable company land also ils directors for the purposes of company law) you are responsible for the preparation ofthe accounls in accordance with Ihe requirements of the Companies Act 20C6 I'lhe 2)6 Act,). Having sa115fied myself that the accounts of the charitable company are not required lo be audrted under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examinatson of your charitable company's account5 carried out under seeb.on 145 of the 2011 Act I'lhe 2001 Act'l. In carrying out my examination I have followe(I the Directions given by the Charity Commission under sectton 14515llbl of the 2011 Act. Independgnl examinerfs statement Since the eharilable company's gross income exceeded £250,000 your examiner must be a member ofa body listed in section 145 of the 2011 Act. I can confirm that l am qualified lo undertake the examination because I am a member of the Association of Chartered Ce"fied Accountants. which is one of the listed bodie$. I have completed my examination. I confim that no matters have come to my attention in connection with the examinat) which gwes me cause lo believe.. accounb'ng records were not kept in respect of the charitable corrnY as required by section 386 of the 20C6 Act. or the accounts do not accord with those records" or . the account5 do not Comply wth the aecounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'tfue and fair view. which is nol a matter considered as part of an independent examination.. or the accounts have not been prepared in aceordanee with the mèthods and principles of the Statement of Recommended praCte for accountin9 and feporting ty charits'es. I have no concern5 and have come across no other rnatters in connection with the examination lo which attention should be drawn in this report in Order to enable a proper understsnding of the 8ccounts.to be reached. Mr Tony Rose FCCA- Director Watling & Hirst Limited Chartered Certified Aeeountants Cawley Place 15 Cawley Road Chichester Wesl Sussex P019 luz
THE SUSSEX SNOWDROP TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021 Unrestrictsd Funds Restricted Funds Total 20Z1 Total 2020 Notes INCOME FROM: Donations and legaaes Other trading aclivitses Investments 239,978 8,953 60,382 2,849 242,827 8.953 60.382 343,322 8,952 36,660 TOTAL INCOME 309,313 2.849 312.162 390,934 EXPENDITURE ON: Raising funds Charitable activities 22,783 445.425 22.783 461.392 47,916 447,226 15.967 TOTAL EXPENDITURE 468.208 15.967 484.175 495,142 Net gainsl{losses) on investrnenls 12 390.719 390.719 1223,8861 Net movèmènt In funds 231,824 {13.188) 218.706 1328.0941 Funds balance5 brought forward" 1167.561 18,133 2,185,694 2.513.788 Funds balances as at 31 Mar¢h 2021 2.399.385 5.015 2.404.400 2.185.694 The stslemenl of financial activibes indudes all gains and losse5 recognised in the year. All income and expendilufe derive from continuing acb"¥ib"es. The stslemenl of financid activities also complies with the requirements for an income and expendilure account under Ihe Companies Act 2(Kl6.
THE SUSSEX SNOWDROP TRUST BALANCE SHEET AS AT31 MARCH 2021 2021 2020 Note$ Fixed assets Tangible assets Investments 13 14 1.276 2.346.9CkS 12.709 2.084.546 2.348,182 2.097,255 Current ¥$s¢ts Slo¢ks Debtors Cash at bank and in hand 16 17 2,231 6.643 138.703 2,572 2,518 154.172 147.5TI 159.262 Creditors.. amounts falling due within one year 18 {91.359) 170,8231 Nel eurrenl 8sseis 56,218 88.439 Total assets less current liabilities 2,404,400 2.185,694 Inrome funds Restricted lunds Unrestrided funds 5.015 2.399.385 18,133 2.167,561 2,404.400 2.185,694 The eharity is enlilled lo the exemption from Ihe audrt requirement ¢ontsined in secb.on 477 of the Companies Act 2006, for the year endesj 31 March 2021_ No member of Ihe charrty has deposited a notice, pursuant to section 476. requiring an audit of these accwnts. The Iruslees acknowledge I•T responsibilities for. lal ensuring that the charity keeps accounting records which comply with sections 386 and 387 of the Companies Act 2006 and {bl preparing accounts which give a true and fair view of the stale of affair5 of the charity as al the end of the financial pefiod and of its incoming SOurceS and applicab.on of resources, including ils income and expenditure. for the financial penod in accordance wth the requirements of sections 394 and 395 and which otherwise comply wlh the Tequiremenls of the Companies Act 2006 rdats.ng to accounts so far as applicable to the charitable company. These financial slalements have been prepared in aCCCe wth the speual provists5 ofPart 15 ofthe Companies Act 2006 relatsng to smdl c ies. ts were aDDr edbvtheB rdon.... J TKkell Trustee uste• Com ogistration No. 04557686
THE SUSSEX SNOWDROP TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accounting policies Charty information The Sussex Snowdrop Trust is a private company limited by guarantee IorPorated in England and Wales. The registered office is No. 3 Wlliam Booker Yard. The Street. Walberton. Arundel. Wesl Sussex, BN18 OPF. 1.1 Accounting convention The financial statements have been prepared in accordance wlh Accounting and Rewting by Charities.. Slalemenl of Recommended Practs"ce ap1¢able lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland {FR51021 (effectwe 1 January 2015) Charities SORP IFRS1021 and the Companies Act 2006. The Sussex Snowdrop Trust meets the definition of a Publ benefil entity der FRS102_ Assets and Liabilities are initially recognised al historical cost or transath.on value unless otherwise Stat in the relevant accountsng policy nolelsl. The financial statements are pfepared in steding. which is the ftjnctional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. 1.2 Going ¢on¢¢tn There are no material uncertainties about The Sussex Snowdrop Trusys abilty as a going concem. 1.3 Charltsble lunds Unrestricted funds are available for tsse at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. Reslri¢led funds are subject lo specffjc con(lilions by dor as lo how Ihey may be used. The purposes and uses of the reslricled lunds are set out in the notes to the financial slalemenls. Endowment funds are subjectto condibons by doTrysthatlhe capilJ must be mainlained by the charity. 1,4 Income Income is recognised and irduded in the aoUnts all of the follov+in9 criteria are mel.. The charity has entitlement lo the funds.. Any performance condits.ons attached lo the income have been met or are fully 1n the control of the charity., There is SLrffio"enl certainty that receipt of the incoffle 15 considered probable: and The amount can be measured reliably.
THE SUSSEX SNOWDROP TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Accountlng policies {continued) For legacies. enlillement is taken as the earliw of. The dale on which the charity is aware that probate has been granted., The e51ale has been finalised and nolification has been made by the executorlsl lo the Trust that a distribution will be made". or When distribution is received from the estate. Receipt ol a legacy. in whole or in part. is only considered probable when the amount can be measured reliably and the charity has been notified of the executorfs intention to make a distribution Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not teen mel. then the legacy 15 treated as a Gonb"r#Jent asset and th"sc105ed if material. 1.5 Exp•ndlturn Expendiluie is regrSed on an basis when a liability 1$ incurred. Expenditure includes any VAT which cannot be fully r0Vered arKI is Ind wthin the item of expenditure lo which il relate5. Charitable expenditure comprises those $ts incurred by the Twsl in pursuit of its Charitable obje¢lives. It In¢lLeS both direct costs and support Costs relatsrvj to sh activities. Govemance ¢osls include those costs associated with meeting the statutory requirements of the Trust and include ils audit lees and costs linked to strategic management of the Trust. These costs are now ineluded in support costs under the Charibes SORP IFRS 1021. 1.6 Tang•ble fixed as$•ts Tangible fixed assets are inrtialty measured at cost and SUbsequenY measured at cost or valuation, nel of depreciation and any imparment los. Oeprecialion is ¢09niSed so as to write off the cost or valuation of assets less their residual values over thèir useful lives on the following bases.. Office equipment Motor vehicles 25% straight line 25% rethxing balance The gain or loss arising on the disposal of an asset is delemined as the difference beeen the sale proceeds and the carrying value of Ihe asset, arKI is recc*Jnised in not incomellexpenditure) for the year. 1.7 Fixed asset inv•stm•nts Fixed asset investments are initially Measu at Iransaclion price excludin9 transaction cosls and are subsequently ffleasured al fair value at each rewts.ng date. Changes in tsir value are rQgnIsed in net incomellexpenditure) for the year. Transadion costs are expensed as incurred. 1.8 Impalrmenl of fixed assets At each reports.ng end date, the charity reviews the carrying ¥mnIS of rts tangible assets lo delemine whether the is any indicab.on that those assets have suffered an impaimenl loss. If any such indication exists. the recovefable amount of the assel is estimated in order to detemine the extent of the impaiment loss {if any}. Intangible assets wlh indefinile Use Iwes and intsngible assets not yel available for use are tested for impaiment annually. and whenever the is an indication that the asset may be impaired. 1.9 Stocks Stocks of goods resale are reccrfded al the lower of cost or nèt Tealisable value. 10
THE SUSSEX SNOWDROP TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Aeeounting policies (continued) 1.10 Debtors Trade and other debtors are recognised al the settlement anN)unt due after any trade discount. 1.11 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call vAlh banks, other short-temi liquid investments, and bank overdrafts. Bank overdrafts are Shown within borrowngs in current liabilities 1.12 Creditors and provisions Creditors and provisions are recognisecj Whe the charrty has 8 pent obligation resulting from a past event that wll probably result in the transfer of lunds lo a third party and the amount (lue lo settle the obligation ¢8n be measured or eslimateo reliable. 1.13 Finan¢ial instruments The charity has elected to apply the prowsions of Section 11 'Basic Financial Instruments. and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its finanaal instruments. Financial instruments are reeognised in the charity's balarte sheet vthen the charty becomes party to the conlraclual Provisions of the instrument. Financial assets and liabTlilies we offset. with net amounts presented in the financial statements, when there is a legally enforceable right lo set off the rec(yJnised amounts and there is an intention to seitle on a nel basis or lo reJise the asset and settle the liatylity simullaneously. Basic financial assets Basic finan¢ial assets. which include debtors and cash and bank balan¢es. are initialty measured at Iransa¢lion price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitLrtes a financing Ifansaction, where the transath'on is measured at the present value of the future receipt5 discounted at a market rate of interest. Financial assets classified as Teceivable wrthin one year are not amortised. Ba$1¢ finan¢lal liabllities Basic finarrial liabilities. inclLKling creditors are initially recognised at transaction price unless the aangemeftI conslitules a financing transaction, where the debt instrument Is measured at the present value of the future payments discounted al a market rate of interest. Financial liabilibes classified as payable within one year are not amortised. Debt instruments are subsequenuy cwrd at amcrfb.sed cost. using the effective interest rate method. Trade creditors are obligations lo pay for goods services that have been acquired in the ordinary course of operations from suppliers_ Amounts payable are dassthed as current liabilits'es if payment is dLte wthin one year or less. If not. they are Presented as ncrfurrent liabilities. Trade cfedilors are recognised inittally at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Fin8ncial liats'lilies are derecognised vthen the charity's ¢traCtual obligations expire or are discharged or cancglled. 1.14 Employee benofits The cost of any unused holtday entsdement 15 recognised in the period in which the employee's services are received. Temiination beneffts are recognised immediatety as an expense when the charity is demonstrably committed lo terminate the employment of an employee or to provide terminab.on benefits.
THE SUSSEX SNOWDROP TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Accounting policiès (continued) 1.15 Rotirement benetit$ Payments to defined contrrbulion retirement benefft schemes are tharged as an expense as they fall due. 1.16 Leasing and hirn purchase commitments Rentals payable under operabng leases are charged a98fflSt income on a straight line basis over the period of the lease. Critical x¢ountlng estlmatss and judgements In the applicatson of the charis accountsng policies. the trustees are required to make judgements, esb'mates and assumptions about Ihe carrying amount of assets and liabilities that are not readily apparent from other source5. The estimates and as50cialed assumptions aTe based on historical experience and other factors that are considered lo be rdevant. Actual results may differ from these estimates. The estimates and undedying assumpkn'ons are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only thal period. or in the period of the rewsion and fLrture period5 vthere the revision affects both current and future periods. The Iruslees do not consider that there a any critical estimates or areas of judgement that need lo be brought to the attention of the readers of the financial statements. Donati¢ns and lègac$ Unr¢strict•d Funds Rgstri¢tod Funds 2021 2020 Donatsons ar gift5 Legacies receivable Trust donations Event based in¢ome Other 164.123 2.500 48.870 22.498 1.987 2.849 166,972 2,500 48,870 22,498 1.987 167,649 5,373 62,503 96.369 11.428 239 978 242 827 343,322 Other trading activitips Unrestricted Funds Restricted Funds 2021 2020 Shop income 8.9S3 8.953 8,952 8.953 8,953 Investments Unrestricted Funds Restricted Funds 2021 2020 Income from listed investments 60.382 60,382 38,660 12
THE SUSSEX SNOWDROP TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Ralsing funds 2021 2020 Fundraisin and ubliut Other fundraising co$t$ 13,553 39.704 Investment mana ement 9,230 8.212 22,783 47,916 Charitable activltlas 2021 2020 Stsff costs Family and children events Awards lo families Nurses expenses 372,099 9,468 44,516 1,817 353.338 9.429 44.484 3.544 427.900 410,795 Support costs (incluthng govemance costs- see note 81 33.492 36,431 461,392 447.226 Support costs Governance costs 2021 2020 Basis ol allocation Depreciation 3.173 3.173 2.934 Motor expenses Loss on disposal of assets Independent examinalion fees General administration expenses Insurance ProFety expenses 1.148 io 1.148 10 940 Govemance 74 Governance 3,060 Governance 12,246 Govemance 932 Governan¢e 16,245 Govemance 9.713 951 16.031 9,713 951 16,031 33,492 33.492 36.431 Analysed been Charitsble actsvilies 33,492 33,492 36,431 13
THE SUSSEX SNOWDROP TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Trustees One of the trustees, Diana Levantine, received use of Ihe charity's motor vehicle, until Il was sold in March 2021. None of the other tru51ees were pad or received benefits from employment with the charity in the year. 10 Taxation The charitable ¢ompany is registered as a chanty and all of ils income falls wthin the exemptions under Part 11 of the Corporatson Tax Act 2010. 11 Employees Number of employees The average monthly number employees during the yearwas.. 2021 Number 2020 Number There were a total of 212020.. 3) full time equivalent empbyees in the ye. Employment costs 2021 2020 Wages and salaries Nurses costs from NHS Social security costs Other pension costs 75,783 291.698 2.723 1.895 80,862 267,212 3.499 1.765 372.099 353.338 No ernployees re¢Ved emduments in excess of£60.000. The key management personnel of the charity comprise only the trustees. The total employee beneflts of key management personnel of the ehaFity were £Nil12020'. £Nill. 12 Net gainsl(lossos) on inv•stm•nts 2021 2020 Revaluation of investments Gainlllossl on sale of investsments 311,484 79,235 (224,1971 390.719 (223.8861 14
THE SUSSEX SNOWDROP TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 13 Tanglblè fixed asset$ Offi¢e eauioment Motor vehicles Total Cost Al 1 April 2020 Additions in the year Disposals in the year 18.111 12,859 30,970 {12,8591 {12.8591 Al 31 March 2021 18.111 18.111 Depreciation and impaimi•nt At 1 April 2020 Depreciation on disw$31s DeptiatiOn charged in the year 16.118 2.143 (4,5991 2,456 18.261 14,5991 3,173 717 At 31 March 2021 16.835 16,835 Net book value Al 31 MaTeh 2021 1.276 1,276 At 31 March 2020 1.993 10.716 12,709 14 Fixed asset investments Ll$ted Investments Cost or v*lu4tion At 1 April 2020 Addition5 Disposals Valuation changes 2,084,546 565,354 1614,4781 311,484 At 31 March 2021 2,346,906 Fair value At 31 March 2021 2,346,906 At 31 March 2020 2,084.546 15 Financial instruments 2021 2020 Carrying amount of financlal assets Debt instrument5 measured al amortised cost Instruments measured at fair value thI4h pmfft or l¢>ss 6.643 2.346.906 2,518 2,084,546 Carrying amount of financial liabiliti•s Measured al amortised cost 88,326 69.028 15
THE SUSSEX SNOWDROP TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 16 Sl¢eks 2021 2020 Finished goods and goo¢Js for resale 2.231 2,572 17 Debtors 2021 2020 Amounts falling due within one year: Accwed income Other debtors 2,665 5,978 2,518 8.643 2.518 18 Creditors: amounts falling due within one year 2021 2020 Other taxation and social seujrity Trade Creditors Other creditors 3.034 1.795 88,325 69,028 91,359 70,823 19 Operating leas• commitments Al the reporting end dale the charty had (Artstanding commtknents for fvtwe minimum lease payments under non-cancellable operaliny leases, wthich fall due as fc4lows'. 2021 2020 thin one year 40,120 10,413 Operating lease commitments comprises leases annLwI renlal$ of £9,600 and £4,800130 months remaining unlil break dause). 20 Related party transactions There were no discjosable related patty transths during the year {2020- none). 21 Pension and other post4ret•r•m•nt b¢n•frt ¢ommiim•nts At the balance sheet dale £429 {2020'. £1.4321 was owed in respect of contributions lo schemes. 2021 2020 Contribuiions payable by the company for the y 1,895 1.765 16
THE SUSSEX SNOWDROP TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 22 Restricted funds The income fvnds of the charity include restried funds comprising the follthmng unexwided balances ol donats'ons and grants held on twst for specific purposes.. Movement in funds Balan¢e al 1 April 2020 Balan¢e al Transfers 31 Mar¢h 2021 Incomè Expendituro Sam's song Mr Nigel Fund 349 2,500 19,5641 16.4031 8,S69 4.666 18,133 2,849 (15.9671 5.015 Sam's song is money raised by Sarah Wakely in memryy of her hLthnd Sam who died in July 2018. This money is ring-fenced and is used to provide music therapy for children wth lile threalening illnesses. The music therapisl invoices Snowdrop after she has had a session 1th the children. All her expense5 and musical inslrumenls are funded from this ring-fenced fflorbey. Mr Nigel Fund is mow ring-feneed for running events for childRn. 23 Analy$i$ of nèt assets bet0n funds Unrestricted Restricted funds funds Total Fund balances at 31 March 2021 are represented by.. Tongiblg fixed assets Investments Current assets Creditors.. amounts falling due win one year 1.276 2.346,906 142,562 {91.3591 1,276 2,346,906 147.577 (91.3591 5.015 2.399.385 5.015 2,404,400 Unrestrl¢tsd R•stri¢ted nds lunds Totsl Fund balances at 31 Mch 2020 e rewesented by: Tangible fixed assets Investments CUnI assets Creditors". amounts falling due withtn one ye 12,709 2,084.546 141.129 {70.8231 12.709 2,084,546 1 $9,262 (70,8231 18,133 2.167.561 18.133 2,185.694 17
THE SUSSEX SNOWDROP TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 24 Comparative funds- Statement th financial activities for the year ended 31 Maich 2020 Unr•stri¢ted Funds Restricted Funds Total 2020 INCOME FROM: Donations and legacies Oiher trading activities Investments 328.041 8,952 38,660 15,281 343,322 B.952 3B.660 TOTAL INCOME 375,653 15,281 390.934 EXPENDITURE ON: Raising funds Charitable activities 47.916 440.372 47.916 447,226 854 TOTAL EXPENDITURE 488,288 8Y 495.142 Net gainsl{losses) on investments (223.886) (223.8861 Net movement in funds 336.521 8,427 (328.0941 Funds balances brought"forvrard 2.504.082 9.706 2,513.788 Fund$ balanc•s as al 31 March 2020 2.167.561 18.133 2,185,694 18