THE SYMBOL TRUST REPORTS & ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 Registered Charity Number 1097042
THE SYMBOL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 Trustees.. B Naziri C Wood M Longley P Mitchell S Hinton M Christian R Duggan Principal Office- CIO Hop Stitch & Jumper Unit 32 Royal Star Arcade Maidstone Kent Independent Examiner.. Mr. L.C. Seal FCCA FAIA Blain Pritchard Limited 74 College Road Maidslone Kent ME15 6SL Bankers.. National Weslminster PLC Sevenoaks Branch 67 High Street Sevenoaks Kent TN131A Registered Charity.. 1097042
THE SYMBOL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 The Trustees present their report together with the financial statements of the charity for the year ended 3151 December 2024. The financial statements have been prepared in accordance with the Accounting Policies set out in Note 1 to the accounts and comply with the charity's trust deed, the Charities Act 2011 and Accounting & Reporting by Charities.. Statement of Recommended Practice applicable to charities. Objectives and activities The Symbol Trust (The Trust) is a charity dedicated to promoting effective and innovative solutions to help meet the needs of people with learning disabilities. together with their families and carers. The Trust aims to work collaboratively and supportively with parents, carers and provider organisations to further the provision of services to people with learning disabilities andlor other additional needs. Our ambition is to see a more equitable society where language enrichment and other social and life skills can unlock true potential in people with learning disabilities. The Trust's objectives and activities aim to lead to an increase in the understanding, knowledge and practice of professionals, carers and healthlsocial care purchasers, about the real opportun ilies for this client group, in order that they can fulfil their full potential. The Irustees hold The Trust's funds and its income in order lo apply them to meet the following objeclives and activities-. To support research programmes,. To enable the publication of work and dissemination of information about the models of good practise., To support the development of The Trust's non-statutory services, e.g. specialist services for people with Down Syndrome., To provide the funding for individual children and adu Its to access specialist speech and language therapy and other professional therapeutic support in exceptional circumstances, where funding cannot be secured through other means., To provide start-up funding in order to contribute to the professional knowledge base through the provision of training and development programmes and practice development schemes., To provide grants to organisations to fund projects that align with the objectives of The Trust,. To assist in the funding of a retail establishment to bring education, training and work to people with learning d isabilities across Kent., To bring theatre opportunities to Kent by providing theatre space and by using inclusive theatre techniques allowing people with learning disabilities to devise, create and perform alongside their non-disabled peers., To provide supported living accommodation for adults with learning difficulties or other additional needs in suitable locations across Kent in order to provide opportunities for their personal development. Organisations are able to apply for grants from The Trust to assist with the fund ing of projects or activities that fall within The Trust's objectives. To apply for a grant, The Trust's grant making policy requires an organisation to provide a business plan to The Trust giving full details of the project l activity, a full costing together with the organisations financial contribution and the origins of their contribution, and the benefit the project l activity would provide to the recipients. The business plan would be reviewed by the Trustees against the aims and objectives of The Trust, and their available funds, and approved or declined as appropriate. No new applications were received during 2024. The Trust acknowledges its requirement to demonstrate clearly that it has charitable purposes or "aims" that are for the public benefit. Details of how the charity has achieved this are provided in this report. The Trustees confirm that they have complied with their duty to have due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
THE SYMBOL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 Achievements and Performance No fundraising activities took place during the year ended 3151 December 2024. The start of 2024 continued to see a rise in the cost of living. The Symbol Trust remains operating in these challenging economic environments and. as many of our core costs continue to rise, income streams remain at risk. Nonetheless, we continue to do everything we can to continue to support our tenants to continue to enjoy their homes and reduce costs were possible Considering the significant impact the increase in energy prices, during the second quarter of the year, an imperative focus of the Trustees has been sustainability. Specifically, how The Symbol Trust can support its tenants to future-proof their running costs by developing a more sustainablelrenewable approach to their energy consumption. As a result, following their last meeting, funding has been unanimously approved by the Trustees to support a sustainability project for each property Therefore, The Symbol Turst in 2025 will be focussing on fundraising for Sustainability projects. The provision of supported living accommodation remains one of The Trust's key objectives and will continue in future years. This will enable The Trust lo meet our stated aims and will continue to assist people with learning disabilities lead an independent life with appropriate support. Financial review Income resources for the year ended 31st December 2024 totalled £732,498 Resource5 expended totalled £759,805 giving a shortfall of £27,307. The Trustees have considered the ongoing requirements of The Trust as they relate to their plans for the 2025 financial year. The Trustees aim to relain free reserves in unrestricted funds sufficienl to cover support and governance costs for a minimum of three months. Reserves in the form of iinrestricted funds held as at 3151 December 2024 are £16,316 The Triistees ha ve identified their principal Financial Risks for the year as follows.. . loss of rental income due to tenants leaving unexpectedly; an unforeseen rise in demand for services, fluctuations in investments Ilow interest returns on investments., inadequate reserves and cash flow., cash flow sensitivities {inabil ity to meet commitments I lack of liquidity to cover costs, etc. }', compliance with donor imposed restrictions on donations., dependency on limited income sources (The Trust's main source of income is from rents received from supported living accommodation, although The Trust's income is augmented by grants and donations).. the future of contracts to provide supported living accommodation. The Trustees have continued to monitor these risks during the year and to mitigate them where required.
THE SYMBOL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 No further specific factors have been identified that could affect the Trust s financial performance or position going fonvard, althoLigh Trustees remain cognisant of, and are monitoring, any Linforeseen legislative or other changes that could occur. The Trustees have considered both the major financial and non-financial risks to which they are exposed and have established systems and procedures to manage those risks. The Trustees are mindful of the responsibilities they carry under current legislation, in particular the Charities Act 2011, Children Acts 1989 & 2004 and later amendments, Health & Safety regulations, and Disability legislation in so far as they may apply. I n addition, they are also mindful of the risk of abuse of the charity in respect of potential money laundering andlor terrorist financing. The Trust has not made any specific financial plans for the year ending 2025 but will continue to actively monitor all risks. Any plans that can be made will be made as appropriate at the time. In the meantime, The Trust will continue to meet ils aims and objectives as far as it is possible to do so. 11 is confirmed that no Trustee has been paid any remuneration or received any other benefits from any employment within the charity, and that there have been no Trustee expenses incurred or paid during the reporting period. The Trustees 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. Structure, Governance and Management The Trust is a charity constituted and governed by a Trust Deed dated 9th October 2002, and is governed by a Board of Trustees, led by the Chair of the Board, who work in accordance with the Trust Deed. All decision making is undertaken by trustees at board meetings and on a majority voting basis. No decision making is delegated to other persons. Where a decision is urgently required, this may be undertaken on an informal basis by a quorum and ratified at the next trusiee meeting. Recruitment of new Trustees is undertaken by the existing trustees by personal recommendation and is based on the needs of The Trust and the individual's skills and knowledge. New trustees are then formally appointed to the Board of Trustees. Appropriate training is provided to new Trustees to ensure that they are aware of the responsibilities that come with their office. The Trust provides grants to fund projects to a number of organisations. One of the organisations with which The Trust co-operates in the pursuit of its charitable objectives is Symbol Family Support Services Ltd (Symbol FSSI. The Trust interacts with Symbol FSS in 0 ways. Firstly, The Trust liaises with Symbol FSS Ltd regarding any issues (for example, repairs, improvements, general maintenance, elc.} that arise in connection with the Trust's properties which are occupied by clients of Symbol FSS. Secondly, Symbol FSS have in previous years submitted business plans to The Trust for funding for projects that align with the objectives of The Trust for which no statutory funding is available. No grants have been awarded to Symbol FSS during the 2024 financial year.
THE SYMBOL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 All Trustees are mindful of the responsibilities they carry under current legislation, in particular the Charities Act 2011, Children Acts 1989 & 2004 and later amendments, Health & Safety regulations, and Disability legislation in so far as they may apply. In addition, they are also mindful of the risk of abuse of the charity in respect of potential money laundering andlor terrorist f inancing. Reference and administrative details Details of all Trustees names, the address of the principal office, and all other relevant reference and admin istrative details are contained on Page 1 of this report. In accordance with the Charities Statement of Recommended Practice (SORPI, Symbol FSS is classified as a 'related party,. The Trust also notes that Symbol UK Limited is a related party to Symbol FSS, although they do not undertake any work with The Trust and no grants have been requested by or awarded to Symbol UK. Independent Examiners A resolution will be proposed at the Annual General Meeting on 31 Sl October 2024 that Mr Lee Seal FCCA FAIA, a director of Blain Pritchard Limited to be re-appointed as Independent Examiner lo the Symbol Trust for the year 2025. The Report of the trustees was approved on 1 Slh March 2025 and signed by Mr Barry Naziri Chair of Trustees
THE SYMBOL TRUST BALANCE SHEET FOR THE YEAR ENED 31ST DECEMBER 2024 2024 2023 Note FIXED ASSETS Plant & Machinery Furniture & Fittings Motor Vehicles 1,667 390 1,667 390 CURRENT ASSETS Debtors Stock Prepayments Cash at Bank and in hand 5 (2,683) 7,015 44,881 34,746 4,106 70,984 76,944 82,105 CREDITORS . AMOUNTS FALLING DUE WITH ONE YEAR Creditors Tax Accruals 26,299 11,241 32,544 24,179 58,844 35,420 19,767 47,075 FUNDS General Fund (unrestricted) Restricted Funds 10 16,316 3,451 42,075 5,000 19,767 47,075 19,767 47,075
THE SYMBOL TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENED 31ST DECEMBER 2024 Note Unrestricted Fund Reslricled Fund Total 3111212024 Total 31112123 Income Resouroes Donations & Charities 30.669 1,140 31.809 5,248 Grants Other Income 700,689 700,689 622,989 731,358 1,140 732.498 628,236 Resources Expended Charitable Expenditure 716,704 2.689 719,393 709,609 Grants for charitable purposes Administration & Management 40.412 40,412 65,565 757,116 2,689 759,805 775,174 Nel {ouigoinglllncoming resources .25,759 1,549 -27,307 -146.938 Fund Balance 181 January 2024 42,075 5,000 47,075 194,012 16,316 3,451 19,767 47,075
THE SYMBOL TRUST FINANCIAL SCHEDULES FOR THE YEAR ENED 31ST DECEMBER 2024 Unreslricled Fund Reslricled Fund Total 31112124 Total 31112123 IA) ANALYSIS OF INCOMING RESOURCES Donations & Charities Grants 30,669 1,140 31,809 5.248 30,669 1,140 31,809 5,248 (B) OTHER INCOME Rent Shop Hopshed Ulililies Recharged Olher Income 568,514 568,514 503,705 19,402 133 132,016 25 133 132,016 25 98,804 1,078 700,689 700,689 622,989 TOTAL INCOME 731,358 1,140 732,498 628,236
THE SYMBOL TRUST FINANCIAL SCHEDULES FOR THE YEAR ENED 31ST DECEMBER 2024 Unreslricled Fund Reslricled Fund Total 31112124 Total 31112123 (C) ANALYSIS OF RESOURCES EXPENED Charitable Expenditure Rent Paid Shop cost of goods Shop direct expenses Hopshed Direct Expenses Utilities Recharges Other Expenses 575,770 575,770 538,045 19,402 140,561 372 140,561 3,061 117,394 34,767 2,689 716,704 2.689 719,393 709,609 (D) Administration Expenses Light & Heat Advertising Contractors & Consultancy General Rates Premises Insurance Motor Expenses Telephone & Internet Legal Fees Professional fees IT Expenses Cleaning Insurance Fund Raising Grants Paid Equipment Hire & Repairs Bank Charges Sundry Expenses Disposal of Assets Depreciation -242 -242 403 23,303 868 23,303 868 32,520 13,537 1,030 156 156 447 -1,922 687 -1,922 687 3,637 389 50 2,253 4,703 4,703 10,049 766 1,604 10,049 766 1,604 8,925 803 1,473 441 441 98 40,412 40,412 65,565 Total Expended 757,116 2,689 759,805 775,174
THE SYMBOL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 NOTE 1 BASIS OF PREPARATION Basis of accounting These accounts have been prepared on the basis of historic cost and in accordance with Accounting and Reporting by Charities ISORP FRS 102), And with the Charities Act 2011 Statement of Recommended Practise NOTE 2 ACCOUNTING POLICIES INCOMING RESOURCES These are included in the Statement of Financial Activities when the resources are paid into the Trust's bank accounts. INCOMING RESOURCES WITH RELATED EXPENDITURE Vvhere incoming resources have related expenditure las with fundraising or contract income), the incoming resources and related expenditure are reported gross GRANTS AND DONATIONS Grants and donations are included in the Financial Activities when the charity has unconditional entitlement to resources. TAX RECLAIMS ON DONATIONS AND GIFTS Incoming resource from tax reclaims are included in Ihe Financial Activities when the resources are received in the Trust's bank accounts. GIFTS IN KIND Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in accounts as gifts only when sold or distributed by the charity. Gifts in kind for any other use by the charity are included in the activities as incoming resources when received. DONATED SERVICES AND FACILITIES These are only included in incoming resources {with an equivalent amount in resources expended} where the benefit to the charity is reasonably quantifiable, measurable and material. INVESTMENT INCOME This is included in the accounts when receivable. 10
THE SYMBOL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 EXPENDITURE AND LIABILITIES LIABILITY RECOGNITION Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. GOVERNANCE COSTS Include costs of the preparation and examination of Statutory Accounts, the costs of trustee meetings and the cost of any legal advice on governance or constitutional matters. GRANTS PAYABLE WITHOUT PERFOMANCE CONDITIONS These are only recognised in accounts when a commitment has been made and there have been no conditions to be met relating the grant which remain in the control of the charity. ASSETS TANGIBLE FIXED ASSETS FOR USE BY THE CHARITY The Trust where the cost on an individual item exceeds £500, has been capitalised and depreciated at 200/0 on straight line basis. JUDGEMENTS AND ASSUMPTIONS There are no significant estimates orjudgements used in preparing the accounts apart from the stock valuation per note 4. NOTE 3 - TANGIBLE FIXED ASSETS Plant & Machinery Motor Vehicles Equipment Fixtures & Fillings Total Cost as at 1st January 2024 Additions Disposal 484 1,721 484 1,721 A5 al 3151 December 2024 2,205 2.205 Depreciation As al 151 January 2024 Provided for the period Disposal 98 441 98 441 As at 31st Dember 2024 539 539 Nel Book Value as al 31st December 2024 1,667 1,667 As al 31SI December 2023 390 390
THE SYMBOL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 NOTE 4- STOCK Nil value, shop closed down and stock disposed off NOTE 5- BANK & CASH The stock valuation is an estimated figure based on average cost. 2024 2023 Bank Balan - Main Account 34,746 70,894 NOTE 6 - Details of certain items of Expenditure 6.1 Trustee Remuneration & Expenses No remuneration or expenses were paid to the Trustees during the year 6.2 Fees for examination of accounts Independent examiner's remuneration 1,578 1,750 NOTE 7 - Debtors & Prepayments 7.1 Analysis of debtors (all amounts falling due within one year) Debtors Tenancy Deposit Others {12,208) 9,525 {2,510) 9,525 12,6831 7,015 NOTE 8 - Creditors & Accruals 8.1 Analysis of creditors (all amounts falling due within one year) Creditors Others 26,299 11,241 26,299 11,241 8.2 Accruals 32,544 24,179 NOTE 9 - Grants made to institutions. 12
THE SYMBOL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 NOTE 10 - Restricted & Unrestricted Funds Held Restricted Restricted Humphry's 2,311 5,000 Sheerness Golf Club 1,120 Others 20 3,451 5,000 NOTE 11- Related Party Transactions As per service level agreement, Symbol Family Support Services Ltd were paid £23,303. Symbol Family Support Services Ltd made an unreslricled donation of £30,000. 13
Independent Examiner's Report to the trustees of The Symbol Trust Thi5 report on the accounts of the charity for the year ended 31st December 2024 is in respect of an examination carried out under s.145 of the Charitie5 Act 2011. Respective responslbillties of trustees and examiner As the Irustees of the charity you are responsible for Ihe preparation of the accounts. you consider that the audit requirements of section 144 01 the Charities Act 20111.the 2011 Act") do not apply and that an independent examination is needed. It is my responsibility to.. examine the accounts (und8r section 145 of the 2011 Act)-, to follow the procedures laid down in the General Directions given by the Charity Commissioners (under sections 145(5)(b> of the 2011 Act)., and to state whether pa rticular matters have come to my attention, Basls of Independent examlner's repori My exarninalion was carried out in accordance with the General Directions given by the Charity Commissioners under section 145(5){b) of the 2011 Act. That examination includes a review of the a¢¢ounling records kepl by the charity and 8 comparison of the accounts with those records. It also includes considering any unusual items or disclosures in the accounts and seeking explanations from you as Irustees concerning any such matters. The procedures undertaken do not provide all the evidence Ihal would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. Independent examlner's statoment In connectlon with my examination, no matter has come to my attention: (i} which gives me reasonable cause to believe that in any materia I respect the requireinents to keep accounting Tecords in accordance wllh section 130 of the 2011 Act.. and to prepare accounts which accord with the accounting records and comply Wlth the accounting requirements of the 2011 Act. have not been met: or to which, In my opinion, attention should be drawn in order to enable a proper under5tandinE of the accounts to be reaclied. 121 Lcse rfFCCA FAIA Blaln Pritchard Limlted Chartered Certified Accountants 74 College Road Maidstone Kent ME15 6SL 2610312025