Charity Reglstration 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 2024
THE SUSSEX SNOWDROP TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees D Levantine- Chair C Bechelet-carter N Cockram A Jago V Seddon J Tickell M Cavaroli Secretary D Levantine Charity number 1096622 Company number 04557686 Registered office No. 3 William Booker Yard The Street Walberton Arundel West Sussex BN18 QPF Independent Examlners Walling & Hirst Limited Cawley Place 15 Cawley Road Chichester West Sussex P019 1UZ Bankers Lloyds Bank plc 10 East Slreet Chichester West Sussex P019 1HJ Investment advisors Atomos Wealth & Financial Wellbeing Pacific House 126 Dyke Road Hove Bnghton BN1 3TE
THE SUSSEX SNOWDROP TRUST CONTENTS Page Chaiiman's report Trustees, report Slatemenl of trustees, responsibilities Independent examiners. report Statement of financial activities Balance sheet Notes to the fsnancial statements 9-18
THE SUSSEX SNOWDROP TRUST CHAIRMAN'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Throughout the year, from May 2023 we celetfated our 30 years as a charity. and we are as relevant now as we were in 1993. During the year we have continued to raise funds to pay for members of the Care at Home Team. who are responsible for providing crucial nursing care, counselling and other vital forms of 5UPPOrt for local Chldren who are on the Snowdrop Pathway, and their family members. These children and young people have been diagnosed with a life-threatening illness, which includes cancer. lèukaemia, brain tumours, complex conditions and many other serious illnesses. As we have always worked closely with the NHS, all local children who have a life-threatening diagnosis are referred to the Team by Hospital Consultants and nurses working in Southampton and London. The Team contacts the family as soon as Ihe child leaves h05Pltal and arrange the fitst visit. DLJring December 2023, the Head of Children's Services acr055 Sussex. appioached the Trustees and asked them if they would fund a paediatric nurse at Fordwater School in Chichester. There are 180 children and young people at the school who have educational and medical needs and Iwenty-one of these pupils are on the Snowdrop Pathway. Without hesitation we approved this appointment, as the nurse in post was overwhelmed by the increase of medical involvement already required for Snowdrop children at the school the Trustees were invited to visit the school by the Headleacher Sophie Clarke, and we spent a very intereslin9 moming meeting staff and pupils. There are other Care al Home Teams across the county, funded by the NHS. bLrt here in Chichester the team is unique, as Snowdrop also funds our exceptional counsellors, and Health Support Workers (HSWS), and provides financial help for parents slruggling to make ends meet when they are caring for a very sick child. HSWS are not efflployed in other teams, but we have always valued them. and they are highly respected by other members of the Team. They attend visits with the nurses and meet children on the Snowdrop Pathway, foming bonds vmlh them and helping lo distract the children while the nurses take bloods or deal wlh wound care. They each have their own caseload and work with the children and their families lo ensure the children and siblings enjoy and get the most out of thr special lime. This can include playing games, painting, or reading, so mum has time for herself. going oul for a bak away from home. or even taking Snowdrop children and siblings to the park. The invoice for the nurses. counsellors and HSWS is now over £400,000 and we are dependent on our caring and supportive community for their contributions. Many events have been organised during the year which not only brings in much needed funds, but also provides the media coverage to keep Snowdrop in the public's eye. Trustees meet every month and attend Quarterly Review Meelings with the NHS Head of Children's Services, Alisdair Little. These meetings are very informative and essential for the Trustees so that we can keep up lo date regarding the numbers of children and young people on the Snowdrop Pathway, data conceming staff visits with Snowdrop children and parents, staff recruitment d with any concems Ihat may arise. Mr Little always reaffims how graleftjl he and his colleagues are for the in of The ssex Snowdrop Trust. lana irman and C¢FFounder
THE SUSSEX SNOWDROP TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their report and financial statements for the year ended 31 March 2024. The accounts have been prepared in aCCordare )hith the accounting polioes set out in note 1 to the accounts and comply with the Trust's Memorandum and Articles ofAssociation. the Companies Act 2006 and the Charities Commission "Accounting and Reporting by Charities= Statement of Recommended Practice IFRS 1021" issued In March 2005 and revised January 2016. Foraccounts"ng periods commencing on orafter 1 April 2008, there is also a requirement for the Tnjst to report on how it satisfies the Public Benefit test introduced by the Charities Act 2006. Objectives and actlvlties The objects of the charitable company are set out in its Memorandum and Articles of Assoaatr"on, and may be summarised as follows." To alleviate Ihe conditions of life amongst people who are caring or who have cared for children or young people aged from O- 19 years th life Ihreatening illnesses and who are alieady in needy circumstances,. and of dependents of carers, being dependents who are themselve5 in needy circumstances", and, for that purpose. to promote the material Wlfare of such carer5 as aforesaid. To support, emotionally and financially. familie5 where there has been an unexpected bereavement of a child or young person from 0 - 19 years. To relieve and alleviate, and to advance, promote. encourage and assist in the relief or alleviation of all kinds of mental, physical infirmity, sickness. disablement Of handicap including mental illness. attributable to caring, amongst carers. and those persons frjr whom they are caring and have cared and the dependents of such carers. To advance education concerning caring of such carers and the general public. The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objects'ves and in planning future activities and setting policies for the year. The Trust carried out these objectives by providing funding to individuals to support caring and equipment for the advancement of education_ Achievements and perfomiance Financial review The charitable company continued to Scessfij1IY operate the Trusvs various activities, and to raise sufficient funds lo enable il to carry forward its work al the level of activity anticipated by the trustees. All investments held by the Trust were acquired in accordance with the powers available to the trustees. At 31 st March 2024, and at the time of writs"ng. the charitable company's financial position was satisfactory. The trustees have appointed Atomos Wealth & Financial Wellbeing to manage its investment portfolio. The management of the portfolio is at the discrets'on of the investment advisors but with a moderate risk level set by the trustees. The net deficit in the Statement of Financial Activities for Ihe year was £13,828 {2023.' Deficit £39,481). Total income for the yearwas £427,518 (2023. £708,948)- Total expenditure was £590.660 {2023.' £525,683). The gain on inveslments in the year was £149,314 12023". Loss £222,746). Total funds al the end of the year were £2,368,318 of which £6,293 were restricted funds. Free reserves at the year end were £2,351.766_
THE SUSSEX SNOWDROP TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Reserves Policy As can be seen from the accounts, the Trust had a healthy balance on reserves due to the on-going efforts of our supporters. The trustees have considered Ihe level of reserves. taking into account the following matters.. Money should only be kepl in reserve for specific reasons - it is clear that sensible planning for annual expenditure and responsibility for other (including employees) is important., A need to cover the NHS salaries for the Care at Horne Team for the term of the Service Level Agre8ment,' In addition lo also cover the Walberton staff based on the temis of their contracts., There was a general wish to be able to maintain the current level of assistance to Snowdrop families. 11 is the policy of the Trust to hold in reserves the equivalent of one yearfs general running costs and an addil'onal amount lo cover the NHS contracted period and a further amount lo cover the employees of the Trust. as per the terms of their employment contracts. This policy will be reviewed annually. Taking all of the above into consideration. the trustees consider that the level of free reserves at 31 st March 2024 of £2.351.766 is in line with ils policy on reserves. Investment policy The Charity seeks lo produce the best financial retum wthin an acceptable level of risk. The investment objective is to generate Income from the investments to 5UPPOrt the Charity's running cosls and capilal grovrth over the long term so that special projects can be funded as and en they ari5e_ The assets can be invested widely and should be diversified across asset classes and geographies. Asset classes could include cash, bonds, equities. property, hedge funds: structured products. private equity, commodities and any other asset that is deemed suitable by the Charity, wilh a balanced 14 of 71 risk mandate, but Ihe trustees preclude investing in companies associated wrth Tobacco. armaments (non-UK listed companies), Pornography, and Gambling. The Charity's Policy is to review the appointment of the Investment Management Fimi on a five year cycle. Risk Management The trustees have examined the major strategic, business and operatior)al risks which the charitable company face5, and confirm that systems have been established to mitigate such risks. Structure, governance and management The governing body of the charitable company is the Board of Director5. who are also Iruslees. The board meet once a month. The board elects the Chairman. All members give their time on a volunlary basis_ New trustees are made familiar wilh their legal obligations under charity and company law, the conlenls of the Memorandum and Articles of Associalion, the committee and decision making process and the recent financial performance of the charity. Trustees are encouraged to attend appropriate extemal training events where these will faalit8te the undertaking of their role. The Irustees, who are also the directors for the purpose of company law. and vtho served during the year up to the date of signature of the financial statements were". D Levantine- Chair C Bechelet-carter N Cockram L Pendlebury (resigned July 2023) A Jago V Seddon J Tick611 M Cavaroli
THE SUSSEX SNOWDROP TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The board appoints a team of 3 professional staff to carry out the day to day operations of Ihe charity- Key staff being as follows= Office administrators Fundraising, Media & Marketing Manager- L Ashworth Office Administrator- E Sleep Finan Manager- E Hanks The Trust has approved and funds the salaries of 7 NHS employed staff who are members ofthe 'Care at Home Tearn'14 Band 7. 1 Band 6.. 2 Band 3). Future plans To ensure that the charity has the $lclent funds to pay the wages of the Snowdrop Care al Home Team with rigorous fundraising within the Community with events and encouraging donations. This report has been prepared in accordance with the provisions of the Companies Act 2006 relating to small companies. The trustees, report was app ¢ved by the Board of trustees. D Levanti Trustee Dated.. 3 . )aJ<4
THE SUSSEX SNOWDROP TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The trustees, who are also the directors of The Sussex Snowdrop Trust for the purpose of company law. are responsible for preparing the trustees, Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice) Company law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming reSoUrS and application of resources, including the income and expenditure. of the charitable company for that year. In preparing these accounts. the trustees are required to.. select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP, make judgements and estimales that are reasonable and prudent", and prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Companies Act 2006. They ale also responsible for safeguarding the assets ofthe 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 charty and financial information included on the charity's website in accordance with legislation in the United Kingdom goveming the preparation and dissernination of financial statements.
THE SUSSEX SNOWDROP TRUST INDEPENDENT EXAMINERS, REPORT TO THE TRUSTEES OF THE SUSSEX SNOWDROP TRUST I report to the charity trustees on my examination ofthe accounts ofthe above company for the year ended 31 March 2024. Responsibilities and basis of report As the charity's trustees of the company {who are also the directors of the cornpany for the purposes of company law} you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 Act.) Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible foi independent examination, I report in respect of my examination of your charity's company accounts as carried out under section 145 of the Charities Act 2011 I'the 2001 Act'l In carrying out my examination I have followed the Directions given by the Charity Commissior) under section 145(5)Ib) of the 2011 Act. Independent examiner's statement The company's gross income exceeded £250,000 and l am qualified to undertake the examination by being a qualified member of the Associats'on of Chartered Certified Accountants_ I have completed my examination. I confirtll that no matters have come to my attention in connection with the examination which gives me cause to believe that". accounting records were not kept in accordance with Section 386 of the Companies Act 2006; or the accounts do not accord wtth such records. or the accounts do not comply with the accounting requirements of section 396 ofthe 2006 Act other than any requirement that the accounts give a 'true and fair view, which is not a matter Considered as part of an independent examination", or the accounts have not been prepared in accordance with the Charilies SORP {FRS102}. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in older to enable a proper understanding of the accounts to be reached. Mr Tony Rose FCCA- DirÈctor Watling & Hirst Limited Chartered Certified Accountants Cawley Place 15 Cawley Road Chichester West Sussex PO19 1 UZ Date .
THE SUSSEX SNOWDROP TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unreslrlcted Funds Reslrlcted Funds Total Total 2024 2023 Notes INCOME FROM: Donations and legacies other trading activrties Investments 351.157 9.879 66,482 351.157 9.879 66,482 625,704 10.748 72.496 TOTAL INCOME 427.518 427.518 708.948 EXPENDITURE ON: Raising funds Chafltable activities 41,644 548,536 41.644 S49,016 42,790 482,893 480 TOTAL EXPENDITURE 590.180 480 590,660 525,683 Net (lossesllgains on investments 12 149,314 149,314 (222,746) Net movement in fund5 (13.348) (480) 113.828) 139,481) Funds balances brought forward 2,375,373 6,773 2,382,146 2,421,627 Funds balance5 as at 31 March 2024 2.362.025 6.293 2,368.318 2,382,146 The ststement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
THE SUSSEX SNOWDROP TRUST BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets Investments 13 14 10.259 2,315.735 12,756 2,219,286 2.325.994 2,232,042 Current assets Slocks Debtors Cash at bank and in hand 16 17 1,609 33.327 98.083 1.969 4.633 227,637 133.019 234.239 Creditors.. amounts falling due within one year 18 (90.695) {84.1351 Net current assets 42.324 150,104 Total assets less current liabilities 2,368.318 2,382,146 Income funds Restricted funds Unrestricled funds 22 6,293 2.362,025 6,773 2,375,373 2,368,318 2,382,146 The charity is enlitled to the exemption from the audrt requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2021. No member ofthe chanty has deposited a notice. pu15uant to section 476, requiring an audit of these accounts. The trustees acknowledge their responsibilitie5 for. lal ensuring that the charity keeps accounling records lch comply wth sections 386 and 387 of the Companies Act 2006 and Ibl preparing accounts which give a true and fair view of the state of affairs of the charity as at the end of the rinancial period and of its incoming resources and applicab.on of resources, including its income and expenditure. for the financial period in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts so far as applicable to the charitable company. These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. The accounts were aDproved rdon D Levantine J Tickell Trustee Company égislration No. 045S7686
THE SUSSEX SNOWDROP TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Aecountlng pollcies Charity infomiatlon The Sussex Snowdrop Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is No. 3 William Booker Yard. The Street. Walberton. Arundel, West Sussex, BN18 OPF. 1.1 Accounting convention The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Slatemep.t of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS1021 (effective 1 January 20151 Charities SORP IFRS102) and the Companies Act 2006. The Sussex Snowdiop Trust meets the defjnilion of a public benefrt entty under FRS102. Assets and Liabilities are initially recognised at hi5toncal cost or transaction value unless otherwise stated in the relevant accounting policy nole{s). The financial statements are prepared in sleding. which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the ne*est £. 1.2 Golng concern There are no material uncertainties about The Sussex SrM)wdrop Trust's ability as a going concem. 1.3 GharitaDie funds Unrestricted funds are available for use at the discretion of ihe trustees in furtherance of their charitable objectives unless the funds have been designated for other purFoses. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set oui in the noles to the financkgl statements. Endowment funds are subject to spectfic conditions by donors that the capital must be maintsined by the charity. 1.4 Income Incorne is recagnised and included in the accounts when all of the followng criteria are met- The charity has entitlement to the funds". Any performance conditions attached to the income have been met or are fully within Ihe control of the charity., There is sufficient certainty that receipt of Ihe inc(Mne is 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 2024 Accountlng policies (continued) For legacies, entitlement is taken as the earfier of.. The dale on which the chaty is aware that probale has been granted.. The estate has been finalised and nolification has been made by the executor{s} to the Tnjst that a distribution will be made., or When distribLJtion is received from the estate. Receipt of 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 dislribulion. Where legacies have been notified to the charity, or the charty is aware of Ihe granting of probate, and the criteNa for income recognition have not been met, then the legacy is treated as a contsngerrt a55et and disclosed if material. 1.5 Expenditure Expenditure is recognised on an accruals basis when a liabilty is incurred. Expenditure indudes any VAT which cannot be fully recovered and is included within the item of expenditure to which il relates. Charilable expenditure comprises those costs incurred by the Trust in pursuit of rts charitable objectives. It includes both direct costs and support costs relating to such activities. Governance costs include those costs associated wlh meeting the statutory requ1MentS of the Trust and include its audit fees and costs linked to strategic managernent of the Trust. These costs are now included in support costs under the Charities SORP (FRS 102). 1.6 Tangible fixed a55ets Tangible fixed assets are in'rtially measured at cost and subsequently measured at cost or valuation. nel of depiecialion and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases". Office equipment Motor vehicle 25 /0 straight line 25Q/o reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset. and 15 recogni5ed in net incOe/(expendktUre) for the year. 1.7 Fixed asset investffients Fixed assel investments are initially measured al transacb.on price excluding transaction costs and are subsequently measured at fair value at each reporting dale. Changes in fair value are recognised in net incomellexpenditure} for the year. Transaction costs are expensed as incurred. 1.8 Impairment of fixed assets At each reporting end dale, the charity reviews the carying amounls of ils tangible assets to determine whether there is any indication that Ihose assets have suffered an Impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to detemine the exlent of the impairment loss (if any)- Intangible assets wth indefinite useful lives and intangible assets not yet available for use are tested for impairnent annually, and whenever the is an indication that the asset may be impaired. 1.9 Stock5 Stocks of goods for resale are recorded al the lower of cost or net realisable value. 10
THE SUSSEX SNOWDROP TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued) 1.10 Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount. 1.11 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held al call with banks, other short-temi liquid investments. and bank overdrafts. Bank overdrafts are shovm within borrowngs in current liabilities. 1.12 Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting trom 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 estimaled reliable. 1.13 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instrurnents. and Section 12 'Other Finanual Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes paty to the contractual provisions of the instrument. Financial assets and liabilits'e5 are offset. wth the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or lo realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured al transaction price including transaction cost5 and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitLrtes a financing transaction. where the transaction is measured at the present value of the future receipls discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised_ Basic financial liabilities Basic financial liabilities, including credrtors are initially recogni5ed at transaction price unless the arrangement conslilutes a financing transaction. V1he the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rale method. Trade creditor5 are obligations lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified a5 current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilits'es. Trade creditors are recognised initially al transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.14 Employee benefits The cost of any unused holiday entillement is recognised in the penod in iCtt the employee's services are received Teminalion benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide temiination benefft5.
THE SUSSEX SNOWDROP TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles (continued) 1.15 Retirement benefits Payments to defined contribution retirement benefEt schemes are charged as an expense as they fall due. 1.16 Leaslng and hlre purchase commitrnents Rentals payable under operating leases are charged against income on a straight line basis over the period of the lease. Critical accounting estimates and judgements In the application of the chartty'5 accounting policies, the trustees are required to make judgements, esb'mates and assumptions about the carrying amount of assets and liabilities that are nol readily apparent from other sources. The estimates and associated assumplions are based on historical experience and other factors that are considered to be relevant. Actual results may differ fr¢Jm these estimates_ The estimates and underlying assuMptiS are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which Ihe estimate is revised where the revision affects only thal period, or in the period of the revision and future periods where the revision affects both current and future periods. The trustees do not ¢onsider Ihat there are any critical estimates or areas of judgement that need to be brought to the attention of the readers of the financial staternents. Donations and legacies Unrestricted Funds Restricted Funds 2024 2023 Donations and gifts Legacies receivable Trust donations Event based income Other 107.803 25.043 74,943 138.264 5,104 107.803 25,043 74.943 138.264 5.104 171,295 250,975 109,178 89,233 5,023 351157 351 157 Other trading activities Unrestricted Funds Restrlcted Funds 2024 2023 Shop income 9,879 9,879 10,748 9.879 Investments Unrestricted Funds Restricted Funds 2024 2023 Income from listed Investments 66,482 66,482 72,496 72,496
THE SUSSEX SNOWDROP TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Raising funds 2024 2023 Fundraisi and ublici other fundraising costs 28,041 32,206 Investment man ement 13,603 10,584 41,644 42,790 Charitable activities 2024 2023 Staff costs Family and children evenls Awards to families Nuises expenses 441,202 18,084 48,968 3,494 370,136 21,317 46,300 3,936 511,748 441,689 Support costs (including govemance costs- see note 8) 37,268 41,204 549,016 482,893 Support costs Governance costs 2024 2023 Basis of allocatlon Depreciation 3,438 3.438 1,157 Motor expenses Loss on disposal of assets Independent examination fees General administration expenses Insurance Property expenses 1.674 1,674 1,118 Governance Govemance 1,800 Governance 17,190 Governance 1,861 Governance 18,078 Govemance 1.800 11,475 1,324 17.557 1.800 11.475 1.324 17.557 37,268 37.268 41,204 Analysed beeen Charitable activrties 37.268 37.268 41,204
THE SUSSEX SNOWDROP TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Trustees None of the trustees were paid or received benefits from employment with the charity in the year. 10 Taxation The charitable company is registered as a charity and all of its income falls within the exemptions under Part 11 of the Corporation Tax Act 2010. 11 Employees Number of employees The average monthly number employees during the year was: 2024 Numbèr 2023 Number There were a total of 3 (2023.. 3} full tiffle equivalent employees in the year. Employment costs 2024 2023 Wages and salaries Nurses, costs from NHS Social security costs Other pension costs 99,204 334,098 4,924 2,976 99.214 262,402 5,546 2,974 441,202 370,136 No employees received emoluments in excess of £60.000. The key management personnel of Ihe charity comprise only the trustees. The total employee benefits of key management personnel of the charity were £Nil (2022 £Nil). 12 Net gainslllossesl on Investments 2024 2023 Revaluation of inve51rnents Gainl(loss) on sale of investrnents 155,916 (6,602) {155,5S31 {67.1831 149,314 (222.7461 14
THE SUSSEX SNOWDROP TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Tanglble fixed assets Office eouiDment Motor vehicles Tolal Cost Al 1 April 2023 Additions in the year Disposals in the year 18.540 12.756 31,296 941 Al 31 March 2024 19.481 12,756 32,237 Depreciation and irnpairment At 1 April 2023 Depreciation on disposals Depreciation charged in the year 18,008 532 18,540 382 3,056 3,438 At 31 March 2024 18,390 3,588 21,978 Net book value At 31 March 2024 1,091 9,168 10,259 At 31 March 2023 532 12.224 12,756 14 Fixed asset Investments Listed investments Cost or valuation At 1 April 2023 Additions Disposals Valuation changes 2.219,286 2,196,154 (2,255,620) 155,915 At 31 March 2024 2,315,735 Falr value At 31 March 2024 2,315,735 At 31 March 2023 2,219,28S 15 Financial instruments 2024 2023 Carrying amount of financial assets Debt instruments measured at amortised cost Instrument5 measured al fair value through profrt or loss 33.327 2.315.735 4,633 2,219,286 Carrying amount of financlal Ilabillties Measured at amortised cosl 88,234 81,649 15
THE SUSSEX SNOWDROP TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Stocks 2024 2023 Finished g¢)ods and goods for resale 1,609 1,969 17 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Accrued Income Other debtors 2,012 21,325 9,990 1,980 2,653 33,327 4,633 18 Credltors: amounts falling due within ono year 2024 2023 Trade creditors Other laxalion and social security 2.589 2,486 2,461 Other creditors 88,234 79,060 90,695 84,135 19 Operating lease commitments At the reporting end date, the charty had outstanding commitments for fulure minimum lease payments under non-cancellable operating leases. which fall due as follovr6". 2024 2023 Within one year 25,960 11,800 20 Related party transactions There were no disclosable related party transactions during the year (2023- none). 21 Pension and other post-retirement benefit commitments Al the balance sheet dale £0 (2023. £5691 was owed in respect of contributions to schemes. 2024 2023 Contributions payable by the company for the year 2.976 2,974 16
THE SUSSEX SNOWDROP TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 22 Restricted funds The income fvnds of the charity include restricted funds comwsing the following unexpended balance5 of donations anrj grants held on trust for specific purposes.. Movement in funds Balance at 1 April 2023 Balance at Expendlture Transfers 31 March 2024 Income National Lottery Community Fund Mr Nigel Fund 6.TT3 480 6,293 6.773 480 6,293 NatSonal Lottery Comrnunity Fund is money Ting-fenced for summer family days out. Mr Nigel Fund is money ring-fenced for running events for children. 23 Analysis of net assets between funds Unrestricted Restrlcted funds funds Total Fund balances al 31 March 2024 are represented by.. Tangible fixed assets Investments Current assets Credilors.. amounts falling due within one year 10,259 2.315,735 126,726 (90,6951 10.259 2.315.735 133,019 190.695} 6.293 2.362.025 6.293 2.368.318 Unrestrlcted Restricted funds nds Total Fund balances at 31 March 2023 are represented by.. Tangible fixed assets Investments Current assets Creditors.. amounts falling due wilhin one year 12.756 2.219,286 227,466 184.135) 12.756 2.219.286 234.239 {84,1351 6.773 2.375,373 6.773 2.382.146 17
THE SUSSEX SNOWDROP TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 24 Comparative funds - Statement of financial activities for the year ended 31 March 2023 Unrestricted Funds Restricted Funds Totsl 2022 INCOME FROM.. Donations and legacies Other trading activities Investments 614.354 10.748 72,496 11,350 625,704 10,748 72A96 TOTAL INCOME 697,598 11,350 708,948 EXPENDITURE ON: Raising funds Charilable activities 42,790 472.620 42,790 482.893 10,273 TOTAL EXPENDITURE 515.410 10,273 525,683 Net Ilosses)Igains on investments (222,746) <222,746) Net movement in funds 140,5581 1,077 {39.481) Funds balances brought forward 2.415,931 5,696 2,421.627 Funds balances as at 31 March 2023 2.375.373 6.773 2.382.146 18