Registered number.. 04860607 Charity number: 1102529 RAYS OF SUNSHINE (A company limitèd by guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l CONTENTS Page R8fgrnnc8 and administrative d•tails of the Company, its Trustsas and advisers Trustees. report 2-24 Independent auditors. roport on the financial statements 25-28 Statsment of flnanclal 4ctlvltl•8 29 Balanc• sh••t 30-31 Statsment of cash flo*% 32 Notes to the financlal 8tatsm•nts 33-51
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2024 Tru$tg9$ Mr Stephen Allan OBE Mr Justin Randall FCA Mr Daniel Coleman Dr Ronelle Naidoo Mr Divyesh Popat Mrs Jane Sharpe Company rggist8red number 04860607 Charity rogl¥tsred numb•r 1102529 Rggl$tsrgd offi¢e 4th Floor Berkeley House London N3 2JY Company socretsry Daniel Jagger Chl8f 8x•cutSv• officer Dan Assor- left 17 Jan 2025 Ind•p•nd•nt auditors BKL Audit LLP Chartered Accountsnts 35 Ballards Lane London N3 1XW Bank•rn Barclays Bank plc 27 Soho Square London W103QR Solicitor5 Ingram Winter Green LLP Bedford House 21A John Street London WC1N 2BF Page 1
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l TRUSTEES. REPORT FOR THE YEAR ENDED 30 JUNE 2024 The Trustees present their annual report together the audited financial slatemenls of the Company for the year ended 30 June 2024. The Annual report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply wth the current statutory requirements, the requirements of the charitable company's goveming document and the provisions of the Stslement of Recommended Practice ISORPI applicable lo charities preparing their accounts in accordance with the Finanual Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 (effective l January 2019). Since the Company qualrfies as small under Section 382 of the Companies Act 2006. the Strategic report quired of medium and large companies under the Companies Act 2006 Istralegic Report and Directors, Report) Reguladons 2013 has been omitted. oblecve9 and actlvbtbes a. Poli¢598 and objg¢tivo$ The objectives of the charity as per rts goveming docvmenl are.. Relieve the charitable needs of children and young adutts vtho have illnesses or disabilities causing limited life expectancy or who suffer from long-temi physical or mental disabilities lincluding learning difficulties) Broader Alm¥ of the Charfty Rays of Sunshine aims lo a¢Jdress several key issues and make Signthcanl changes through f(s aclivilies.. lal Relieving Charitable Needs and Grant wshes.. Providing unique and unforgettable experiences tailored to the dreams and desires of seriously ill children. creating lasting p05its.ve memories. Ibl Hospital Aclivrty Days and Wart1 Wishes.. Reduung feelings of isolation during prolonged hospitsl stsys by providing lun and stimulating aclivitj'es. Icl Creating Joy and Posrtive Memories and Wish Granting.. Wish Granting.. Bringing joy lo children and offering resprte for their families, allowing them lo share in happiness and create cherished moments together. Idl Reducing Feelings of Isolation". Wish Community Events." Offering opportunities both in person and online for yOLJng people in OLJr $h community who may be isolated or feel a sense of delachmenl from their peers. These events are designed to bring individuals and their families together to connect, build confidence and provide peer support through their shared joumey. lel H05Pltal Acliwlies." Offenng inclusive and engaging acb"vilies that provide sts"mulalion. fun, and social inleraclion. alleviating loneliness and b0d0M during hospitalisalion. ID Building Self-Esteem and Confidence through Wish Communty Events.. Helping children feel special and valued, boosting their self-esteem and confidence, which positively impacts their overall well.being and outlook on life. These events are designed to empower and inspire individuals and encourage them to have the confidence to try new things in a safe, inclusive and supportive environment. Igl Supporbng Families.. Emotional and Practical Support.. Providing ongoing support to help families navigate the challenges of caring for a seriously ill child, induding emots'onal support and opportunities for family bonding. Ihl Raising Awareness and Support through Collaborab"on5 and Partnerships.. Working with celebrity ambassadors, corporate partners, and media outlets lo infftase visibilty, gamer more support. and ensure the sustsinability of the ¢haritls activthes. Page 2
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 Oblo¢¥•5 and actlvltl•$ Icontlnu•d) How the Achievement of the Charity's Aims Furthers Its Legal Purposes The achievement of Rays of Sunshine's aims diredy ad(l$Se$ the charrtable needs of children and young adults with serious illnesses or disabilities. aligning rts legal purposes as ouUined in its goveming document. By providing Supportive and enri¢hing activities, the ¢hanty'. Improves Emotional Well-Being". cating joy and p0SVe memories enhances the mentsl health and overall quality of life for seriously ill children. Alleviates Isolation". Hospitsl ath"wts"e$ reduce loneliness and boredom, contributing lo the children's emotional and mental welkbeing. 8oos15 SeM-Esleem.' Special events arKI activth.es help children develop a posf(ive 5è1f-image and sènse of worth. Supports Families.. Providing emotional and practical support helps families cope with the pressures of caring for a seriously ill child. Raises Awareness.. Increasing vi$ibilty an(1 support ensures the ¢hanty can continue to fvlfil its legal purposes effeth'vely and 5UStainabty. In setting obje¢tives and planning for activrties. the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefil. including the guidance 'Public benefit.. running a charty IP821'. Page 3
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 Oblo¢¥•$ and actlvltl•$ l¢ontlnu•d) b. Strategies for achieving objectives Rays of Sunshine employs 3 comprehensive strategy to achieve its objectives and aims, ensuring that the charity effectively addresses the needs of seriously ill children and their lamilies. The strategy encompasses several key areas, each designed to maximise the impact of the chariws work and ensure sustainable growth and development. Wlsh Grantlng The core of Rays of Sunshine's strategy is 11$ w$h grantsng programme. By fulfilling the unique ll$he$ of seriously ill children, the charity creates unforgettable experiences that bring joy and hope to the children and their families. The wsh granting process is carefvlly managed to ensure that each wsh is tailored lo the child's desires and circumstances, providing a personalised and impacrful experience. The charity works c105ely with medical professionals, families, and volunteers lo identify and fulfil these wshes, ensuring that all logistical and medical needs are mel. Hospltal ActlvSty Days and Ward WSsh•¥ To reduce feelings ol isolation and provide stimulation for children during hospital stays, Rays of Sunshine organises hospital activity days and wafd wshes. These activities are designed t¢ be inclusive and engaging. offering a range ol fun and Iherapeulic experiences for children in hosprtal. The charity collaborates wlh hospitals and healthcare professionals to plan and deliver these activities, en$uring they are accessible to all hildren, including those who are bedridden or have limrted mobility. Bullding $olf-E8ts•m and Confid•nc• Rays of Sunshine aims to boost the self-esleem an¢J confidence of seriously ill children through ils Wish Community programme of events. By providing opportunitie$ lor children to participate in special activities both in person and online, the charity helps them feel valued l and allows them opportunits'es to share in their experiences with their peers, as well as give them a chance to try out new things- many of which they may not have had the confidence lo attempt or expenen¢e in other setbngs. This focus on building sell-esleem 15 inlegraled into all aspects of the chantys work. from wsh granting lo hospital a¢livilies and community events, ensuring that children receive consistent stjpport and encouragement. Rays of Sunshine brings together children and their families. fostering a sense ol belonging and community, vthich further enhances their confi'dence and self-worth. Supporting Families Recognising the significant emotional and financial p$$$ faced by families of seriously ill children. Rays of Sunshine provides ongoing support to help them navigate these challenges. The charity offers emotional support, practical assistance, and opportunities for families to create happy memories together. This holistic approach ensures that families receive the comprehensive support they need, helpin9 to alleviate stress and strengthen family bonds. Ralslng Awarene$$ and Se¢urlng Support To sustain and expand its activities, Rays of Sunshine actively works to raise awareness of the needs of Seriously ill children and the impact of its work. The chaTrty collaborates wlh celebrity amba55adors, corporate partners, and media ouUe15 to Increase rts visibility and attract more 5UPPOrt. By raising awaienes5 and securing additional soUrCes, the charity ensures that it can ¢onb"nue lo fthlfil its mission and reach MO children and families in need. Page 4
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 Oblo¢¥•$ and actlvltl•$ Icontlnu•d) Volunteer Engagement Volunteers play a crucial role in the success of Rays of Sunshine's programme5. The charity actively recruits, trains. and supports volunteers to assist vth wish granting. hospital a¢tivilie$. and fundraising events. By engaging a dedicated and passionate volunteer base, the chanty enhance$ rts capacity lo deliver high-quality services and extend its reach. Strateglc PartnorBhlps Rays of Sunshine forms strategic partnerships corporate sponsors, t)ther charities, and community organisations lo enhan¢e rts programme$ and in¢rease rts impa¢t. These partnerships provide valuable resources, expertise. and opportunities for collaboration, enabling the charity to deliver more comprehensive and effective support to seriously ill children and their families. Contlnuous Improv•mènt and Ev*lu•tlon To ensure the effectiveness and efficiency ol its programmes. Rays ol Sunshine regularfy evaluates ils activities and seeks feedback from beneficiaries. volunteers, and partners. This commitment to continuous improvement allows the charity to refine its strategies, address any challenges, and adapt to Ihe evolving needs of the children and familieg it serves. G. Voluntsgr¥ Volunteers play a crucial role in the success of Rays of Sunshine's programmes. The charity actively recruits, trains. and supports volunteers to assist wsh granting. hospital activib'es, and fundraising events and activities. By engaging a dedicated an(J passionate volunteer base. the charity enhances ils capacity lo deliver high-quality seNces, extend ils reach and grow InMe d. Maln activitl•s undertaken to further thè Ch•rity'8 purposes for tho public bènèflt The trustees confim they have complied the reqU1ment in section 17 of the Charities Act 2011, to have due regard to public benefit in deterniining the activities undertaken by the charity. As a charity. we are keen to emphasise the public benefit we believe our work provides. Our wshes are available to any child aged befvleen the ages of three and 18. living in the UK, diagnosed with a lilthreatening or leminal condition. In support of our mission, the charity's main obiecb.ves are". To fuWIl wishes lor lerminalty and seriously ill children befven the agès of three and 18 in the United Kingdom. To fulfil ward wishes for hospitals and hospices within the United Kingdom. To hold hospital and hospice activty days within the United 'ngdom. To hold magical large and smalks¢ale events for our wish children and theiw families throughout the Unrted Kingdom To purchase equipment or grfts for the hosprtals, hoswces and Specialist Schools that provide care for these children within the United Kingdom. To plan lo make a grant towards a caprtal project lo a h05Pital, hospice or specialist School that provides ¢are for terminally and seriously ill children within the United Kingdom. if fvnding is available. Page 5
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 Oblo¢¥•5 and actlvltl•$ Icontlnu•d) Achievements and perfomiance a. Main achiovaments and p8rfornianco of the Charity The financial year 202>2024 has been a remad(able period for Rays of Sunshine, marf(ed by the successfLJI granting of numerous wshes and the organisabon of impacrful community events. Despite the challenges posed by economi¢ uncertainties and a reduced team. our ¢ommitmenl lo bringing joy and memorable experien¢es lo seriously ill children and their families has remained unwavering. Wlsh•s Throughout the year, our wsh-granling team ha$ been exceptionally busy. managing a significant pipeline of wishes. Despite a redu¢ed team, we have Mpleted 358 wshe$ in the financial year, 29 more than the previous year. As of 30 June 2024. we had 202 wishes in progress. This is a testament to the team's dedication to reducing lead ts'me5 and ensuring that wshes are granted in a timely manner. K•y Wl8h Hlghllght: Our wish granting ath'vilies have included a diverse range of experiences, tailored lo meet the unique desires and needs of each child. Some of Ihe slandoul wshes granted this year include.. Ethan's Poker Nlght." In January. granted Ethan's wish lo have his own personalised poker table and host a family poker night. Poker hold$ a Special place in Elhan'$ life, providing a way for his family and friends lo come together and spend quality bme. momentarily forgetting the everyday worries of his illness. The wish included a cuslom-made poker table. personalised poker chips, and accessories, creating a memorable and enjoyable experience for Ethan and his loved ones. Sldemtn Wlsh Day.. In Febwary. held our annual *Msh day The Sidemen at Grawty Wandsworth. Seven wish children and their parents enjoyed a moming of gaming, Vlrtual darts, and bDvAing, all arranged by The Sidemen's new charrty, Bnghlside. Each child received a signed wster, a Gravity gift card, and MehandISe from The Sidemen dothing range. The event provided a fun and engaging experience, Creating la5b.ng memories for the children and their families. Sanna's Wl8h to Mggt hgr Idol Olly Murs.. A$ part of our collaboralion wrth The Fragrance Shop, we hosted our 9,OOOth wsh for Sanna, has kidney failure and is on dialysis. Sanna had the opportunity lo meet Olly Murs and create her ovm fragrance in-$lore at The Fragrance Shop Manchester. This unique experience brought immense joy to Sanna and her family, and the content captured during the event will be used lo highlight the Impact of our work al future lundrai5ing events. Barnaby's Wish to Meet the England Squad.. Bamaby and his family attended the training press day at St George'5 Park for the England men'5 squad. He received an FA goody bag. along with personalised England football merchandise. They watched the team train and had the opportunity to meet the players, tske photographs, and collect 5ignature5. Bamaby and hi5 family were a150 gifted tickets lo watch England vs Malts al Wembley Stsdium. vthe they tsken prtch side before kick-off. The experience was a dream come true for Bamaby and created cherished memories for his family. Page 6
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 A¢hlovem•nts and perfomianc• 1contlnu1 Matthevls Wlsh to Vlslt tho Set of Th• Ch•$o." Matthew loves game shows, and his favourite is The Chase. For his wsh, he wanted to be a contestant on the show. He was invited to the studio to play against The Vixen and put his quiz knowledge to the lesl. His mum and aunt joined him a5 leammales, and Matthew beat the chaserl The family described the day as a unique and unforgettable experience, filled with joy and excitement. Cl•mmle'8 Afternoon wlth Andro3 Bocelll.. Our partnership wth Andrea 8ocelli brought 8 magical experience to Clemmie, a young gid who had the opportunity to spend an aftemoon backstage wrth Andrea and his family before his live performance. Andrea even sang a personal rendilion of "Happy Birthday. to Clemmie, creating a cherished memory for her and her family. Wlsh Communlty Ev•nts The finan¢ial year 2023124 has been an exceptional period for Rays of Sunshine. marked by a Series of impactful community events and ath'vity days that have brought joy, nneCtiOn, and support to Seriously ill children and their families. These events have provided opportunibes for families to bond, share experiences, and create lasting memories together. Here are some of the key community events and activity days from the past year.. Mllly Days." Our annual Milty Days event at Mill Waters was a sOUnding success. wlh 90 attendees, including 20 wish Children. Familie$ enjoyed boat rides. a petting zoo, garden games. crafts. swimming. and an ice cream van. The event provided a much-needed respile and a chance for families to bond in a supportive environment. The positive feedback from families highlighted the importance of such events in creats'ng cherished memories and offering a sense of normalcy during challenging times. World Book Day C•l•brations In March, we celebrated Wodd Book Day ¥th a series of engaging activrties designed to inspire a love of reading and creativity among children. The celebrations included.. Online Workshop with Children's IlltratOr Ali Pyè. Ali Pye led a workshop where children leamed lo draw and create their own illuslrats"ons. bfy)gtsng their confidence and artisti¢ skills. Rap Workshop wth MC Grammar.. Wortd Book Day ambassador MC Grammar hosted an online rap workshop, encouraging children to create raps and rhyming poems about topics they were passionate about. The workshop was well-received, th children expressing their creativity through mu51C. Roald Dahl P•rfomiance Work$hop at Playl)ox Th•atr•." Childn parts'cipaled in acting and danryng workshops. Culminating in a perfomance that celebrated the works of Roald Dahl. Parents also engaged in a terrarium-rnaking workshop, fostering connection and communicab'on among families. Music Production Workshop In May, we hosted an in-person musi¢ produdion workshop al Woolw'¢h Works in London. Led by our ¢hoir leader Georgia White and music producer Silvastone. the workshop included singing. games. and a lyrics session where children created their own song. The workshop provided a plarform for children to express themselves crealivety and build their confidence. They vKote and collaborated wth Silvastone to create "Rainbo which has incredible tyn.cs which Tellect the group'5 lived experiences with their illnesses and encourages listeners lo find their own inner strength_ pats also participated in a workshop rnaking ethical room sprays and homemade soap. offering them a ¢han¢e to connect with others in similar ¢ircumstan¢e$. Page 7
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 A¢hlovem•nts and perfomianc• 1contlnu1 Online Animal Encountsr In May. we Inalled a new concept wth an online animal encounter hosted by ZooLab. The Session introduced children lo various animals. including a hissing Cockroach. laranlula. tree frog. snake, and giant snail. The ¢hildren were highly engaged. leaming about the rainforest and the habitats of these animals. The event was particularly impactful for children who are unable to visit zoos due to their medi¢al Conditions, providing them with an exciting and educational experience from the comfort of their homes. Chrlstmab Party at Glld• Despite Challenging weather condth'ons. our Christmas Paty at the Glide ice rink al Battersea Power Station was festive and joyous occasion. Over 60 wsh ¢hildren and their families attended, enjoying activities such as meeting Father Christmas. crafts, computer games, and ice skating. The event reached 229 people in total and provided a magical experience that brought holiday cheer to the families. 12 Days of Wl8hma• Our '12 Days of Wishmas, programme in December was our busiest month, featuring a variety of festive acts'vilie$. Highlights in¢l(bded.' F•$tlv• Aft•moon Tea and Mov1• S¢reening at Easlv•pII Manor." Families enjoyed a delightful afternoon tea followed by a movie screening, creating a cosy and fests.ve atmosphere. Ic• Skating at Brighton Pavlllon". Children and Iheif families had the opportunity lo Skate al the iconic Brighton Pavilion. enjoying the wnter wonderfand experience. R¢glonal S¢reenlng$ of Olsney's 'Wl$h' Movle. Families attended special screenings of Disney's 'Wish' movie in various locations, adding to the holiday excrtement. Pantomlme Perfomianc•s In Edlnburyh and Llverpool." Children and their families enjoyed live pantomime performances, bringing laughter and joy to the holiday season. Online Events". Virtual activities induded a magiuan and famity bingo session, ensuring that families who ould not attend in person still had the opportunty to path'cipate in Ihe festsve fun. These community events and ath'vty days have played a crucial role in fostering a sense of belonging and support among wish families. By providing opportunib.es for families to connect, share experiences, and create lasting memories, Rays of Sunshine has made a significant p0511ive impact on the lives of seriously ill children and their families. The success of these events is a teslamenl lo the dedication and commitment of our team, volunteers, and supporters. who work .lesS1Y to bring joy and hope to those we serve. Page 8
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 A¢hlovem•nts and perfomianc• 1contlnu1 Sunshine in Hospital and Hospices Our engagement wth hospitsls and hospices a0$$ the UK has continued to strengthen. with a focus on providing resources and support to children undergoing treatment. We have continued to roll out our successful Sensory Bag programme, reaching around 1,000 children in 2024. The bags focus on 3 main sensory areas - See, Touch and Hear. In March 2024 we launched our Wodd Book Oay programme, designed to encourage creative thinking through slory-lelling and Create positive distractions for over 3.884 children. One of the standout initiatives this year has been the Liquid lo Tablet5 project. which aims lo Improve the medication experience for children. Liquid lo Tablets Project.. This innovative project. launched in partnership with Leeds Children's Hospital, encourages d)ildren lo Iransibon from liquid medication lo tsblels. The project has shown promising results, with 10 hospitals pa'Cipat1ng, including those in London, Manchester, Birmingham, Ipswich, Southamplon, Sheffield. Leeds. and Chesterfield. The inib*ive not only helps thildn gain confidenee in taking lablels bul also offers long-term benefits such as increased independence and reduced medication costs for families. The kits include all the resources needed for the transition lo successfully lake place, including cups, botues, straws, pill boxes. tablet cutters. reward charts. and even sweels for practice sessions. This programme is revolutionary and wll make a significant drtference to the lives of seriously ill children, and their families, by in¢aSing their independence in managing medications. reducing trauma associated with swallowng medication and improwng oral health. Out of the feedback received so far, we have reached around 95 children and found that 100% of ehildren vtho have taken part in this programme have successfully transitioned, or they a on largel lo successfully transition from taking liquid medication lo lablel medication. Colebrity Ambassadors Our work wlh celebrity ambassadors has been instrumental in raising awareness and support for Rays of Sunshine. Throughout the financial year. we have collaborate(1 wlh a diverse group of celebrities who have generously given their lime and influence lo bring joy to seriously ill Children and their families. One of the highlights of the year was our ongoing partnership wth Olly Murs. Olly has been a steadfast supporter. participating in several key even13 and wish experiences. Notably. he played a central role in our 9.OOOlh wsh. where he mel Sanna, a young girl wth kidney failure. and helped her ¢reale her own fragrance al The Fragrance Shop in Manchester. This event not onty brought immense joy to Sanna bul 8190 garnered $ignrficanl media attention, highlighting the impact of our work. In addition lo Olty Murs, we have been fortunate to have the support of The Sidemen, a group of popular YouTubers. Their involvement in our annual wsh day at Gravity Wandsworth was a resounding success. Seven wsh children and their parents enjoyed a moming of gaming. virtual darts, and b0Ing, all arranged by The Sidemen's new Charity. Brighlside. Ea¢h Child received a signed poster. a Gravity grft Card. and merchandise from The Sidemen dothing range. creating unforgettable memories fr)r the familie$ involved. Our collaboration wth MC Grammar also stood out this year. As part of our Worfd Book Day celebrations, MC Grammar hosted an online rap workshop, engaging children in creating raps and rhyming poems about topic5 they were passionate abtsut. This event was welreCeiVed. with ¢hildren expressing their crealivty and confidence through music. We also welcomed the support of Jacqueline Wilson, a beloved children's author. Jacqueline participated in a special event where she read stories lo children and engaged in a Q&A session. Her presence and interath.on with the children were deeply appreaated, prowding them vthh a unique and inspiring experience. Page 9
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 A¢hlovem•nts and perfomian¢• 1contlnu1 Furthermore, our partnership th Andrea Bocelli brought a magical experience to Clemmie, a young girf who had the opportunity lo spend an aftemoon backstage wth Andrea and his lamily before his live performance. Andrea even sang a personal Tendrtion of "Happy &"rthday" to Clemmie, Creating a chenshed memory for her and her family. F8•dback and Impact The feedback from tsmilies has been overwhelmingly positive. underscoring the profound impact of our wsh activities. Parents have shared heartwarming stories of how the wishes have brought joy, confidence, and a sense of normalcy lo their children's lives. For instance. one PanI des¢ribe(I how their child, Kyle, called his wish day the best day of his lrfe," vthile another noted how the wsh experien¢e helped their child move past the trauma of illness and look forward to the fvture wlh [eneV energy and optr'mism. b. Koy p•rfomian¢• Indlcatorn Rays of Sunshine uses a variety of key perfomiance indicators IKPlsl lo asses5 Ils performance and measure the impact ol Ils aclivilies. These indi¢3lors provide evidence of the charrty's achievements during the reporting period and help to ensure that ils objedives and aims are being met effectively. The followng summary outlines the main KPIS used by the charity, along wlh the outputs achieved and theii contribution to the charity's overall goals. Wlsh Grantlng Numb•r of Wlsh88 Grantsd.. One of the primary KPIS is the total number of wishes granted within the financial year. For 202>2024. the charity successfully granted 358 wshe5, exceeding the previou5 yearfs total of 329. This KPI reflects the chantys ats'lity to bring joy and create lasting memories for seriously ill children and their families. Lead Time lor Wl8h Fulfilment". Another imrrt)rtant KPI is the lead tsme ftom approval lo futfilmenl. A8 0130 June 2024, 86% of the 202 wshes in progress were less than 12 months old. This demonstrates the chariW5 commilrnent lo redurAng wart times through efficient Wish management, a dedicated team, continuous improvement. resource allocab"on. collaboration wrth partners. and regular monitoring and reports'ng. These strategies ensure the timely delivery of v*ishes and highlight the charity's dedication lo bringing joy to seriously ill children as quickly as possible. Fdback survey.. Based on responses from 128 families, 97% of families would recommend Rays of Sunshine lo other families. We received a perfect rating of 10110 for the impact ol a wsh on their child and another 10110 for families, over311 experience with Rays of Sunshine. Page 10
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 A¢hlovem•nts and perfomianc• 1contlnu1 Wish Community Evants Number of Communlty Evonts. The charity tracks the number of community events organised each year. In 2023-2024, Rays of Sunshine held 27 events, induding the annual Milly Days and Ferrari Day, Worfd 8tsok Day ¢elebralions. a host of online events. a new gaming event 'Game Fesl. and a music produclitsn workshop, as well as the busy .12 Days of Wishmas, events and many more. These events provide opportunities for lamilies lo connect, share experiences, ar create lasting memories. Attendanco at Ev8nts.' The number of attendees al community evenl$ 1$ another crucial KPI. For example, the Milly Days event al Mill Water5 saw 90 attendees, including 20 wsh children. the highest attendance lo date. High attendance rates indicate the success antj popularity ol these events among the charity's beneficiaries. Summary of Rèach 0 1,451 people reached- double the amounl in 2022r2318971 0 577 wish children- over double the reach in 202212312231 0 18 regions reached plus mulb'ple in London 0 11 new online events hosted The rea¢h was achieved on half the Initially approved budget for this period. This su¢¢ess was largely due to the development of the online events programme. the implementation of a waitlisl process lo prevent wasted spaces, and a rigorous guest managemenl process prior to Ihe event maximised attendance rates. Sunshlne In Hospltals and HospScos Number of Hospltal Acllvbty Days.. The ¢hanty measures the number of hospital adivity days conducted each year. These activities are designed lo reduce feelings of isolation and provide stimulation for children during hospital stays. The charty's engagement wlh hosptsls across the UK has conts'nued to slrenglhen, with numerous activity days organised throughout the year. Partlclpatlon In SpKlal ProJe¢ts'. The Liquid lo Tablets Pro¢1 is a stsndoul inrtiab've aimed at improving the medication experience for children. The KPI for this project includes the number of participating hospitals and the number of Children transitioning from liquid medication lo lablet5. Wrth 10 hospitals partlClP81ing, the project has shown promising resulis. contributing to inueased independence and redu¢ed medi¢alion costs for families. World Book Day.. The primary aim of this projed is to reach thildren in hospitsls who are missing out on making significant childhood memories. Whilst their peers are celebrating Worfd Book Day in school, thousands of hospitslised children miss out. We launched our Wodd Book Day packs lo encourage creative thinking, storytelling and a sense of community among these children in a hospital setting. The overall impact reached 3,884 children. Voluntoor Engagement Volunteer Hour5 Contributed.. The charity tracks the total number of volunteer hours contributed each year. Volunteers play a ts1 role in supporting wish granb"ng. hosprtal activib"es, and fundraising events. Thousands of volunteer hours. equivalent to several fijll-time staff positions. highlight the significant contribution of volunteers to the charity's success. Page 11
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 A¢hlovem•nts and perfomianc• 1contlnu1 Number of Active Volunteers.. The number of active volunleers is another key indicator. A dedicated and passionate volunteer base enhances the charrtys capacity lo deliver high4Juality services and extend ils reach. Fundraising and Awdrnn8$$ Funds Raised.. The total amount of funds raised through various fiJndraising activities is a critical KPI. Successful event5 such as the annual gow day. collaborations wlh corporate partners. and Individual fundraising efforts have contributed lo the charity's financial stability and ability lo expand its services. Mèdla Covèrago and Publlc Engagom•nt'. The Charity measure$ the extent of media coverage and publi¢ engagement achieved through its activities. Collaborations wth celebrity ambassadors and media oullel$ have increased the charity's visibilty and attracted more support, ensuring sustained gro and impact. . Factors rnlevant to achleve obJeclSv8¥ Over the past year, have made signfficant strides in luffilling our mission. despite numerous challenges. Our dedicated team, supports've MmunIty, and Slralegic partnership$ have been Crucial in helping us a¢hieve our obje¢live$. During the financial year, Rays of Sunshine faced b5t>nI1al financial difficultie5, nece5511ating a tough decision to reslrudure the charity. This reslru¢turing led lo a reduction in Staffing levels, with several members leaving the organizalion. The decision was made after Careful consideration of where cost savings could be achieved. ensuring the charity could ¢ontinue to operate effeIvelY while managing rts financial challenges. Although it was a difficult choice, rt was essential for the long-tem) sustainability of the charity and its ability to conts'nue bringing joy and support to seriously ill children and their famil$. Ending the year with a deficit posed 3 major challenge. impacting our abilty lo manage a high volume of wshes and events with a reduce<l team. System and process inefficiencies. along with extemal economic and social factors. also influenced our operations. Despite these obstacles. we su¢cessfiJlly developed and implemented a new fundraising strategy. This strategy has been pivotal in stabilizing our financial position and setting us on a path to susiainable growth. Successful events like the London Marathon and our Annual Golf Day have significantly contnbuted to our Income. Partnership5 wth organvzations such as Bacta, Alpha Talent Group, Hill Dickinson, and Smyths Toys have been instrumental in se¢unng funds and supptsrt. Effective communication and media coverage have further enhanced our ability to reach and engage wth our supporters. The cornmunications team has raised our profile through media coverage, social media engagement, and email marketing. Notable example5 indude the coverage of the London Marathon and the volunteer recruitment campaign. Community and volunteer engagement have been central to our efforts. We have successfully engaged wlh our community through our Wish Communty Events programme and the launch of a new volunteer recnjitment drive. The involvement of volunteers in various activities has been beneficial. and our collaboration ¥Mth hospitals and parbcipation in conferences have strengthened our relationships ¥Mth healthcare professionals and institutions. A5 we head into the new financial year, are much stronger and more resilient. Our focus Is on strategic planning and vision, wrth an emphasis on developing a clear strategic plan for the next three years. Building sustsinable income streams and enhancing donor engagement wll be central to our fLJture plans. By addressing these factors and implements'ng strategic inthatives. %%t aim to achieve our objectives and continue making a positive impact on the lives of more seriously and terniinally ill children and their families. Page 12
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 A¢hlovem•nts and perfomian¢• 1contlnu1 d. Fundraising activities and income generation Rays of Sunshine has undertaken a variety of ftjndraising activities and income-generab'on methods over the past year, demonstrating our commitment lo securing the necessary funds to support our mission of brightening the lives of seriously ill children and their families. Our efforts have been mutiifaceted, involving events, partnerships, community engagement. and innovative caMpans. all aimed at generabng income and foslenng supportive network of donors and volunteers. A key focus for the team has been to eslablish a robust pipeline of idenlified opportunities to secure future support for the charity, and a need lo diversify our income porllolio to reduce risk, thus ensuring sustainability. Fundralslng Evonts One of the cornerstones of our fundraising strategy has been the organisalion of high-profile events that not only raise significant funds bul also increase awareness of our cause. The London Marathon 2024 was a slandoul success, grossing £144.209, including Gift Aid. This event saw enlhu$iasts'¢ participation from runners who were motivated by the stories of the children we support. The marathon not only provided a plarform for raising funds but also allowed participants lo engage with our mission on a personal level, fosterin9 a deeper connection with our cause. Another notable event was our Annual Gow Day. organised by our Chaiman Steve Allan, which netted approximately £50,000. This event brought together supporters and corporate partners in a day ol friendly ompetition and nets¥orking, all in support of Rays of Sunshine. The success of the golf day highlighted the importance of community and corporate engagement in our frjndraising efforts. Partn•rshlp$ and Corporate Support Strategic partnerships have been instrumental in our fijndraising activities. We launched a new partnership with Alpha Talent Group, which has opened doors to new opportunities and resources. Additionally, we continue to work with our longstanding partners. Bacta contsnues to support us by providing positive experiences lor our wsh families and raising income via their members. Our partnership wlh Smyth5 Toys has been renewed, securing £50,000 for the upcoming financial year. These partnerships not only provide financial support bul also enhance our visibility and credibility wthbn the communty and wrth our partners, employees. We were also shortlisted for ICAP'S Charity Day in December 2024, which provided a significant boost lo our fvndraising efforts, with the oulcome falling inlo the next finanaal period. The 5UPPOrt from corporate partners like Hill Dickin50n. which has confirmed a new partnership, further reinforce5 the Importance of building and maintaining strong 13b'onshIpS With businesses Ihat share our commitment lo making a difference in the lives of seriously ill Children. Community Engagement and Volunloer Involvement Community engagement has been a key focus of our ftjndraising strategy. The launch of the "Ray for a Day. campaign is a prime example of how we have mobilise(l our ¢ommunity to support our cause. This campaign encourages individuals and grotjps to organise their own fundraising acb"vrties on the longest day of summer, creating a sense of collective effort and shared purpose. The campaign has gamered support from various community groups, schools, and businesses. demonstrating the power of grassroots fijndraising. Volunteer invofvement has also been crucial lo our 5ucce55. We launched a new volunteer recruilmenl drive In April, resulting in 15 new volunteers signing up to support our aclivib"es. Volunteers have played a vital role in our events, from helping to organise and run the London Marathon to assisb'ng with community events like Milly Days. Their dedicatson and enthusiasm have been invaluable in ensuring the smooth executs'on of our Page 13
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 A¢hlovem•nts and perfomianc• 1contlnu1 fvndraising activities. Innovatlve Campaigns and DSgital Fundralsing Innovation has been at the heart of our fundraising efforts. We have embraced digital platforms to reach a wider audience and make rt easier for supporters to contn'bute. The launch of our first-ever Crowdfunder campaign in July has been a significant step in this direction. The campaign raised £14,000. This platform allowed us to engage with supporters In a new way, providing them wrth a direct arKI transparent means of contributing lo our cause. Lgga¢y Glvlng and MaJ¢r Donor Engaymont Legacy giving has been a vital component of our income generation strategy. In earty 2023, we were informed of * legacy, from which £50,000 was received in the next financial penod. Engaging with major donors and encouraging legacy gifts are cnKial for ensuring lon*lem financial stsbility and support for our mission. Our efforts lo engage wlh major donors have also induded hostsng events such as the Patrons, Evening, which provided an opportunity for our Senior Management Team lo nnect and thank some of our key supporters. These events are not onty about raising funds but also about building lasting relationships with individuals who are pa$$ionale about our cause. Thank You to Our Fomi•r CEO We would like lo extend our heartfeli gratitude to Dan As$or, who served as Chief Executive Officer betsyeen October 2023 and January 2025. Dan's leadership during a path'cularly challenging period for the charity was invaluable. His guidance and support were instrumental in navigatin9 difficult decisions, ensuring the continued success and stability of Rays of Sunshine. We thank him for his dedicatson and wsh him every succe88 in his new venture. Chall8ng8s and Future Plans While the team have worked hard lo achieve fvndraising success, have also faced unprecedented challenges. The economic uncertainties and cost-of-living crisis have impacted our ability to raise fvnds, we remain committed lo addressing these Challenges through slralegi¢ planning and innovation. Looking ahead. we have ftxused on developing a clear strategic plan and vision for the next three years lo enable us to grow income This wll guide our goals and ensure alignment with our mission and values. Building sustainable and diversrfied income streams and strengthening our donor stewardship and engagement, will be central lo our future plan5. By contsnuing to innovate and engage wilh our community, we aim to achieve our objectives and make 8 lasting impact on the lives of seriously ill thildren and their families. . Invéstmgnt poll¢y and p•rlornian¢e Rays of Sunshine's investment policy is designed lo ensure ihe preservation of caprtal while maintaining liquidity to meet the charity's obligations as they fall due. The Trustees have the power to invest in funds a5 they deem appropriate, wth a focus on achieving minimum risk and ¢aprtal preservab"on. The p(>li¢y is reviewed every six months by a sut>committee of the TrusteelExe¢ub"ve Board. which reports to the Trustees. Current Investments.. The charity has invested in Govemment Gills wth a maturity date of January 2025. Sufficient cash is held in easily accessible bank accounts th Barclays Bank to ensure liquidty. Page 14
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 A¢hlovem•nts and perfomianc• 1contlnu1 Perforniance of Investments.. During the year ended 30 June 2024. the chaws investments in Government Gilts resulted in an unrealised gain of £198,439. The lotsl value of inveslmenls al the end of the reporting period was £3.065,674. The investment policy reflects the Trustees, decision lo hold reserves in a manner that achieves minimum risk and Capital preservatson, ensuring the ¢harity Can meet its finanaal obligations while safeguarding its assets. f. Flnan¢lal revlow Ay of 30 Junè 2024. Rays of Sunshine has shovm lIlence and dedication to 11$ mission despite facing economic uncertainties and operational challenges. The charitys financial position reflects rts commitment lo bringing joy and support lo seriously ill children and their families. The lolal income for the year was £2.07 million, while expenditure on charitable a¢livilie$ amounted lo £3.49 million, resulting in a deficit of £1.43 million. The total reserves at the end of the reporting period were £2.79 million, with unrestricted funds of £2.69 million and restricted funds of £95.485. a. Golng concorn The Iruslees of Rays of Sunshine have assessed the charity's financial position and conduded that r( remains a going concern. This condusion is based on several key factors". Healthy Level of Free Reserves.. The charity maintains a robust level of free reserves, which provides a financial cushion lo meet ils obligalions and contsnue ils operations even in the face of economic uncertaints'es. Careful Considerab'on of Future Expenditu." Futu expenditure commitments a Carefully evaluated in light of the charity's free reserve levels and overall financial position. This prudent approach ensures that the charity can 5UStain ils activities and fulfil its mission. Successftjl Fundraising Efforts." The charity has (lemonstrated successful fvndraising efforts through various events, partnerships, and innovative campaigns. These efforts have contributed to the charity's income and financial stability. Strategic Partnerships and Support.. Strong partnerships vhth corporate supporters and our committed Patron donors have provided valuable financial 5LlPPOrt and resources. enhancing the charity's ability lo continue its work. Commitment to Financial Prudence.. The trustees are committed lo maintaining financial prudence and ensuring that the charity's SoUrceS are managed effectively lo support its mission and objectives. Based on these factors, the trustees are confident that Rays of Sunshine has the financial resilience and stability to continue operating as a going concern for at least the nexl 12 months. Page 15
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 b. Rg$erv•$ pollcy Al the balance sheet dale of 30 June 2024. the total reseeS were £2.79 million130 June 2023." £4.02 millionl, of which £2.69 million 130 June 2023". £3.94 million) were unrestncled funds and £95.485130 June 2023". £77,035) were restricted funds, designated for specific projects or purposes as dirtated by the donors and are not available for the general purposes of Ihe charity- A portion of the unreslricled reserves. amounting lo £423,750, is designated towards wshes that have been approved and are yel lo be realised. These designations ensure that the charity can rneel ils commitments and continue its operats'ons wthoul disruption. After accounting for restrided fund$ and designated amounts, the mainIng amount of truly unrestri¢led reserves is £2.27 million. This equates to approximalely 11 months of running costs. providing a financial buffer lo support the charity's operations and ensure rt5 long-term sustainability. Our policy is to maintsin 6 10 12 months of budgeted expenditure lo ensure that we are always able lo fulfil wishes. both MmItted and planned. in the event of a significant decline in our income due lo an unexpected ma¢roeconomic event such as those experienced in 2008 and 2020. The Iruslees are comfortable with a reserve level al the upper end of expectations lo provide a greater degree of protection given the current uncertain economi¢ dim31e. The Iwslees regularfy review the reserves policy to ensure il remains aligned vAth the charitys financial strategy and objectives, taking steps to maintain an appropriate level of reserves to support future activitie$. Page 16
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 ¢. Matsrfal Investments poll¢y Rays of Sunshine holds material financial investments lo ensure the preservation of capital while maintaining liquidity lo meet the charty's obligations as they fall due. The investment polity Is designed lo achieve minimum risk and ¢apitsl presetvation, ensuring that the ¢harity Can Contsnue ils operatsons wlhout disrupb'on. The trustees have the power to invest in funds as they deem appropriate. The primary objectives of the investment policy are.. Ensuring that the principal amount of the investments is protected from significant losses. Maintaining sufficient liquidity to meet the tharity's short-lemi and long-lerm financial obligations. Generating a reasonable level of income to support the ¢harty'$ activities and operations. The charity5 investments are pnmarily in Govemment Gitts and cash held in bank aceounls. These Inveslmenly are Chosen for their low risk and hh liquidity. aligning the chariV$ obie¢lives of capital preseNalion and Rays of Sunshine 1$ committed ¢0 responwble investing and lakes social, environmental, and ethical consideration5 into account in its investment policy. The charty aims to invest in a manner that aligns with ils value5 and mission. This includes.. Avoiding investments in companies or sectors that engage in practices harniful lo society, such as those involved in the production of tobacco. alcohol. or weapons. Priorilising investments in companies that *Jemonslrale Strong environmental Stewardship and $u$lainabilily practices. Ensuring that invegtmenls a made in companies that adhere lo high ethical gtandards, including fair labour practices and good governance. The investment policy is reviewed every six months by a sutrTrcommrttee of the TrusleelExecutive Board, which reports lo the Iruslees. This regular review ensu$ that the Investments remain aligne<l wlh the charily'g financial strategy and ethi1 wnsiderations and that any necessary adjustments are made in response lo changing market conditions or organisatsonal needs. Page 17
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 d. Prlnclpal rlsk$ and un¢•rtalntl•s Rays of Sunshine faces several principal risks and uncertainties that could impact ils operation5 and financial performance. These risks have been identified by the charty trustees and are managed through various strategies and plans. Economic fluctuations and uncertainties, such as inflation, recession, or changes in govemment funding, can affect the charity's income from donabons, grants. and fvndrai5ing events. To miligale this, the charity maintains a robust level of free reserves to cushion against economic downtums and diversifies ils Income 51reams through various fundraising activities. corporate partnerships. and innovab.ve campaigns. Redudions in Staff Can lead to operational $lrain, affecting the charitys ability to mana9e a high volume of shes and events efficiently. The charity addresses this by focusing on strategic planning and vision to streamline operations, engaging volunteers lo support various activities, and ensuring regular training and support for remaining staff lo maintsin high service qualrty. Inefficiencies in systems and processes can hindef the charity's abilty lo manage wshes. fundraising. and administrative ts$ks effectively. To improve efficiency, the charity 1$ investing in new CRM systems and technology and has continuous evaluatson and feedback mechanisms in place to identify and address process inefficiencies. External eeonomic and social factors. such as the cosl-of-living Crisis. changes in donor behaviour. and social trends, can impact the charity's lundraising efforts and overall financial health. The charity actively monitors these factors and adapts its fundraising strategies accordingly, engaging wth the community through events. ampaigns and communication$ to maintain donor interest and support. Any negative publiuty or failure lo meet beneficianes, expectations can ham the chanty's reputation and affect donor confidence. The chanty maintains high stsndards of transpafency and aecountability. engaging wlh beneficiaries, donors. and the public through effective communication and media coverage lo build and maintain trust. Several factors are likely to influence the charity's financial perfomiance and position going forward. The succe5S of lundraising events, Campaigns. and partnerships will signTficanlly impact the charity'5 income. Broader economic conditions. including inflation and govemment policies. wll affect donor behaviour and funding availability. Improvements in systems and processes will enhance the Charty's ability lo manage resources effectively. The level of volunteer involvement will support the Charis operats'ons and reduce operational strain. Building and maintaining strong partnerships corporate sponsors and other organisations wll provide valuable resources and support. By addressing these risks and factors through strategic planning and effective management. Rays of Sunshine aims to continue fulfilling its mission and making a posib.ve impact on the lives of seriousty ill chIldn and their familie$. Page 18
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 •. Rlsk manag•ment obJ•ctlv•$ and p)Ilcl•s Rays of Sunshine's financial risk management policies and objectives focu5 on ensuring financial stability and sustsinability. The charity prionbses caprtal preservab.on by investing in Iow-risk financial instruments like Govemment Gilts and maintaining sufficient liquidity in easily accessible bank accounts. To mitigate economic fluctuations, the charity diversifies its irtme stream$ Ihrough various lundraising ath'vilies, corporate partnerships, and innovatr've campaigns. Regular financial reviews and audts help monitor the charrtys financial position and identify potential risks. Prudent expenditure management ensures that future commrtments are evaluated against free reserve levels. The charity also focuses on building sustainable income streams through strategic partnerships, legacy giving. and majgr donor engagemenl. Rays of Sunshine is committed lo ethical and responsible investing, avoiding harmful practices and priorilising companie5 with strong environmental and ethical Standards. Continuous evaluation and adaplalion of financial sk management poliues ensure they remain effective and aligned wth the charity's objectives. This comprehensive approach helps manage financial risks and Supports the charity's mission lo positively impact the lives of seriously ill children and their families. f. Prfn¢lpal fundlng During the reporting period, Rays of Sunshine's principal funding sources included fundraising events, corporate partnerships, Patronage donations, community engagement, and Innovative campaigns. These resources were crucial in supportsng the ehanty's key objectives of granting wshes, organising activits.es for children in hospitals and hospices. and providing ongoing support through our wish communrty events for seriously and terminally ill children and their families. Fundraising events such as the London Marathon and Annual Golf Day were significant conlribulors, raising substantial funds and increasing awareness of the charity's mission. Corporate partnership5 wth organisations like Smyths, Bacta. Alpha Talent Group. and Hill Dickinson provided financial support and enhanced the charity's visibility and credibilty. Community engagement inib'atives, including the "Ray for a Daf campaign and volunteer recruitment drives, mobilised local support and fostered a sense of collective effort. Innovative campaigns. such as the Crowdfunder campaign expanded the charity5 reach and attracted new donors. Structurol governanc• and management a. Constltuuon Rays of Sunshine is an charitable company limrted by guarantee, constituted under a Memorandum of A550cialion and a Trust Deed dated 08 August 2003. It wa5 registered with the Chanty Commi55ion on 08 March 2004 wlh charity number 1102529. Page 19
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 Structur•. gov•rnance and manag•m•nt l¢ontInu) b. Methods of appointment or election of Trustses Trustees of Rays of Sunshine are appointed or elected through a structured proce$$ to ensLJre the board is Composed of individuals vtho are committed to the charitys mission and objectives. The charity may appoint a person wlling to act as a trustee by ordinary resolution of its members. Each trustee holds office for a three-year term. after which their appointment must be confimied by an ordinary resolution of the members. If the appointment 15 not confirTned, the trustee ceases to hold office immediately. The appointment process en$ure$ that the number of trustees does nol exceed any maximum number fixed by the charity. Trustees must be natural persons aged 16 years or older and must not be disqualified from acting under the provisions of the Companies Acts or the Chariknes Act 2011. This struclured approach helps maintain a dedicated and effective board of trustees lo guide the charitys aclivilies and govemance. c. Organisational slru¢turg and d•¢i$ion4naking poli¢ies Rays of Sunshine operates with a slruthired organisalional framework designed lo ensure effective governance and operational efficiency. The charity is overseen by a Board ol Trustees. vh)0 are responsible for the overall strategic direction and goveman¢e of the organisation. The Iruslees manage the busine$s of the charity and exercise all powers unless re$tn'cted by the Companie$ Acts, the Artides, or any Special resolution. The Board of Trustees meet regularly lo discuss ond make decisions on key 51ralegic and policy matters. These include setting the charity's slralegi¢ objectives. approving budgets. overseeing finaneial management, and ensuring compliance with legal and regulatory reqviremenls. Trustees also appoint committees lo handle specific areas such as finance, fundraising, and risk management, wth the temis of delegats'on recorded in the minutes. Operab'onal deei$ion$ and daY-laY management are delegated to the charity's staff, led by the Chief Executive Officer ICEOI. The CEO and senior management team are spOnSible for implementing the strategic plans approved by the Iruslees. managing the charitys programmes and services. and overseeing staff and volunteer activities. Staff a empowered lo make decisions wlhin their areas of SPonSIbl1ty, ensuring that the chanty's operations run smoothly and efficienljy. The charity also engages volunteer5 to support various activilies. induding wish granting. hospital activities, and lundrai5ing events. Volunteers are trained and supported to en$ they can effectively contribute lo the charily'g mission. This dear delineatson of responsibilities betsn the trustees and staff ensures that Rays of Sunshine can effectively pursue rts mission while maintaining strong govemance and accountabilty. Page 20
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 Structur•. gov•rnance and manag•m•nt l¢ontInu) d. Policies adopted for the induction and training of Trustees Rays of Sunshine has established comprehensive policies for the induction and training of trustees to ensure they are well-prepared for their roles. New trustees receive a welcome pack Trmth key documents. attend an orienlalion meeting with the Chair and CEO, and are encouraged to wsil the charty'5 offices and events. Trustees are offered ongoing training through workshops. seminars. extemal courses. and regular board development sessions. Trustees have access lo resources. mentorship from experienced trustees. and periodic perfomiance reviews to assess their contributions and identify addrtional training needs. These measures ensure trustees are equipped to govem the charity effectively and support ils mission. e. Pay poll¢y for kgy manaymgnl yvsonngl Rays of Sunshine Sets the pay and remuneration of ils key management personnel through a Structured and transparent process. Salaries are benchmar1(ed against similar roles in the charity sector and other relevant industries lo ensure competitiveness. Pay level$ are delemiined ba$ed on the responsibilities of the role, the experience and qualification$ ol the individual, and theic performance. Regular perfomiance reviews are conducted to assess achievements and contributions. The remuneration of key management personnel is revieNbed and approved by the Board of Trustees lo ensure objectivity and alignment with the chanty's financial position. Salaries are sel wrthin market rates lo allracl and retain talented individuals vthile ¢onsidering the charity's finan¢ial $u$tainability. The pro¢es$ 1$ transparent, and details ol key management personnel remuneration are disclosed in the charitys annual report and financial statements. This ensures that pay is fair, compelilive. and aligned the charity's goals and financial capabilities. f. Rolated party rolatlonshSp8 Rays of Sunshine maintains latiOnshipS th various related pa'e$ to enhance its ability lo fulfil ils eharilable objectives. These laonShIpS indude partnerships %Mth other charib'es, and collaborations wlh organisalions that share similar goals. Rays of Sunshine also collaborates wth other charities and organisations lo rther its mission. These partner5hip5 Involve sharing Information, resources. and best practice5 to maKimi5e the impact of their collective efforts. By working together. the chanty Can reach MO beneficianes and deliver more comprehensive support to seriously ill chIldn and their families. Page 21
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 Structur•. gov•rnance and manag•m•nt lcontlnu g. Safeguarding Practices At Rays of Sunshine, safeguarding is at the heart of everything we do. Our commitment to protecting children and young people is reflected in our comprehensive safeguarding poli¢ies and pro¢edures, which are designed to ensure the safety and well-being of all beneficiaries. Key Safeguarding Initiatives.. Training and Awareness.. All staff, volunteers, and parlners undergo rigorous safeguarding training lo ensure they are equipped to identify and respond to potenbal risks. Regular refresher ¢our$es are conduded lo keep everyone updated on best practices and emerging Issues. Safeguarding Committee.. We have a dedicated safeguarding committee that review5 our policies and procedures regularly. This committee ensures that safeguarding Is upheld lo the highest possible stsndard8, adapting our practices lo meet evolving needs and challenges. We are pleased to report that during the 2023124 period, we did not receive any safeguarding concerns. Our safeguarding practices are continuously reviewed and improved to adapt lo changing environments and emerging risks. We are dedicated lo creating a safe and nurturing environment where every child can thrive. Plans for futur9 porlod¥ Rays of Sunshine is committed lo continuing its mission of bringing joy and support lo seriously ill children and their families. The ¢harity'$ future plans focus ¢)n several key aims and objectives, with specific activities designed to achieve them. Alm* and ObJoctlv•s Expand Wish Granting.. Increase Ihe number of wishes granted annually to reach more children and provide them wth unforgettable expenences. Expand the Wish Communty Events offering.. Increase the number of events and the regions they are hosted in, in order lo provide wish children vth more unforgettable experiences and opportunities lo meet peers and Share collectively. Enhance Hospital Service5.' Strengthen hospital activrties lo reduce feelings of isolation and provide stimulation for children during hospital stays. Support Families.. Provide comprehensive support lo familie5, including emotional and practical assistance, to help them navigate the challenges of caring for a seriously ill child. Raise Awareness and Funds". Increase awareness of the charrtl5 work and Secu addrtional resources through innovative fundraising campaigns and strategic partnerships. Planned A¢ttvities Wish Granting." Continue lo streamline the WiShranting process lo duce lead times and ensure timely delivery of wishes. Explore new types of wshes and experiences to cater to diverse interests and needs. Wish Communrty Events". Expand the offering of events, both in person and online to meet the needs of the Page 22
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 Plans for futur• perlod$ Icontlnuodl community, empower our young people and provide safe, accessible opportunrties for them. Sunshine in Hospitals and Hospices.. Expand the range of activities offered during hospital visits. incorporating teedback from Children and heaAh¢are professionals lo make these events more engaging and beneficial. Fundraising Initiatives.. Slrenglheniny our latIOnshipS existing partnerships. Patrons, Trusts and Foundations. as well as seeking new support from these sources. Look to diversify our fundraising portfolio with the launch of new lundrai5ing campaigns and leverage digital platforms lo reach a wder audience. And mobilise the support of our communty by getting involve<1 and giving their lime. Trust888' Pgrsp8Ctiv8 The Iruslee5 are oplimistsc about the ffijlure direction of Rays of Sunshine. They recogni5e the importance of strategic planning and have prionlise(J the development of a cle3f vision for the next three years. This vision includes building sustsinable and diversifie<l income streams. enhancing donor engagement, and expanding the charity's reach and impact. L•ssons Loarn•d Experience gained from past activities has been invaluable in shaping future plans. The charity ha9 leamed the importance of flexibility and adaptsbilty in responding lo changing circumstances. such as economic uncertainties and operational Challenges. The success ol rent fundraising events and partnerships has highlighted the value of community and corporate engagement. Additsonally, feedback from beneficiaries has underscored the need for continuous improvement and innovation in the chanty's programme5 and services. By incorporating these lessons and focusing on strategic Inilialive5, Rays of Sunshine aim5 to achieve ils objectives and continue making a positive impact on the lives of seriously Ill children and their families. Page 23
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 Plans for futur• perlod$ Icontlnuodl Statsm•nt of Trusteos. r6sponslbllltl•s The Trustees (who are also the directors of the Company for the purposes of company lawl are responsible for preparing the Truslee5' report and the financial statements in accordance with applicable law and United Kingdom Accounts'ng Standards Iunrted Kingdom Generally Accepted Accounting Practieel. Company law require$ the Trustees to prepare ffinancial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the stale of affairs of the Company and of it5 incoming resources and application of resources, including ils Income and expenditure, for that period. In preparing these financial statement5, the Trustees are required lo.. select suitable accounting policies and then apply them consistently., obseNe the methods and principles of the Charities SORP IFRS 1021". make judgments and accountin9 estimates that are reasonable and pnjdent,. stale whether applicable UK A¢¢ounting Stsndards IFRS 1021 have been followed, subject to any material departures disclosed and explained in the financial ststements., prepare the financial Statements on the going concEm basis unless il is inappropriate lo presume that the Company wll continue in business. The Trustees are responsible for keeping adequate acwinting recryds that are suffiaenl to show and explain the Company's transactions and disclose wth reasonable accuracy at any time the financial position of the Company and enable them to ensure Ihat Ihe financial siatements comply wth Ihe Companies Act 2006. They are also re5pcinsible for safeguarding the assets of the Company and hence for tsking reasonable $lep$ for the prevention and detection of fraud and other irregulanties. Dl8closurn of Inforn)atlon to audltors Each of the persons who are Trustees at the time when this TnJstee$' report 1$ approved has confimed Ihal.. so lar as that Trustee 1$ aware, there 1$ no rebevant audit infomalion of which the charity's auditors are unaware, and that Trustee has taken all the steps that Ought to have been taken as a Trustee in order to be aware of any relevant audit information and lo estsblish that the charity's auditors are aware of that infomialion. Audltors The auditors, BKL Audit LLP. have indicated their wllingness to conb'nue in office. The designated Trustees will propose a motion reappointing the audiloT5 al a meets'ng of the Trustees. Approved by order of the members of the board of Trustees and signed on their behalf by.. Mr Stephen Allan OBE (Trusteel Dale.. 2310412025 Page 24
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF RAYS OF SUNSHINE Oplnlon We have audited the financial ststements of Rays of Sunshine {the 'charitable company'l for the year ended 30 June 2024 which comprise the Stslement of financial activities. the Balance sheet, the Slalemenl of cash flows and the related notes. in¢luding a summary ol significanl a¢¢ounling poli¢ies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounts'ng Practice). The financial stslements have been prepared in accordano wlh Accountsng and Reporting by Ch8ri1ieg preparing their accounts in accordance wlh the Financial Repotting Standards applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Repo.n9 by Charities.. Statement of Recommended Prartice issued on 1 April 2005 vkni¢h 1$ referred to in the extant regulations bLrt has been wthdrawn. This has been done in order for the accounts to prOve a true and fair wew In accordance with the Generally Accepted Accounting Practice effeth.ve foi iew)rb"ng penods beginning on or after 1 January 2015. In our opinion the financial ststements.. give a true and fair view of the state of the charitable company's affairs as at 30 June 2024 and of its incoming resources and application of resources. induding Its income and expenditure for the year then ended., have been properfy prepared in accordance Trmlh United Kingdom Generally Accepted Accounts'ng Practice". and have been prepared in accordance with the requirement$ of the Charits'e$ A¢t 2011. B*81s for oplnion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are fvrther described in the Auditors, responsibilities for the audit C•f the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are leY8ftt to our audrt of the financial slalemenls in the United Kingdom, including the Financial Reporting Council's Ethical Stsndard. and we have fulfilled our other ethical responsibilities in accordance wth Ihe$e requirements. We believe thal the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going c¢ncem In auditing the finanaal statements, we have concluded that the Trustees. use of the 90ing concern basis of accounting in the preparation of the financial 5ts1emenls is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to Continue as a going concem for a period of at least months from vthen the financial statements are authorised for issue. Our responsibilities and the responsibilrties of the Trustees wth respect to going concem are described in the relevant sections of thi5 Teport. Page 25
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF RAYS OF SUNSHINE ICONTINUEDI Other Infomiatlon The other information comprises the infomiation included in the Annual report other than the financial statements and our Auditors. report thereon. The Trustees are responsible for the other Informab"on contained wlhin the Annual report. Our opinion on the financial statements does not Cover the other information and. except to the extent othemse explicitly stated in our port. we do not express any form of assurance conclusion thereon. Our responsibility is to read the other inforniation and, in doing so, consider whether the other infomiation is materially inconsistent with the ffinancial statements or our knoedge obtained in the course of the audit, or olherwse appears lo be materially misstated. If we Identify such material inconsistencies or apparent material misslalemenls, we are required lo determine whether this gives nse to a material misslalemenl in the financial stslements themselves. If. based on the work have perfomied. we condude that there is a material misstatement of this other informatson, %%t are required to report that fact. We have nothing to report in this regard. Mattors on vthlch wa rnquired to rnport by exc•ption We have nothing to report in respect of the follovAng matters wthere the Charities (Accounts and Reports) Regulations 2008 requires us lo report to you if, in our Opini.. the information given in the Trustees, report is inconsistent in any material respect wth the financial statements., or sufficient accounting records have not been kept". or the financial $tatements are not in agreement wth the a¢¢ounting rerdS and relums.. or we have not received all the information and explanations we require for our audit. Respon8lbllltle$ of trusts Ag explained more fully in the Truslee5' responsibilibes statement, the Trustees (who are also the director$ of the charitable company for the purposes of company lawl are responsible for the preparation of the financial stslements and for being satisfied that they give a true and fair wew. and for such internal control as the Trustees detemiine 1$ necessary to enable the preparalion of financial Stslements that are free from material misstatement, whether due to fraud or error. In preparing the financial slalemenls. the Trustees are responsible for assessing the charitable company's ability to continue as a going concern. disclosing. as applicable. matters related to going ¢oncem and using the going concern basis of accounting unless the Trustees erther intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Page 26
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF RAYS OF SUNSHINE ICONTINUEDI Audllors. re$pon$lbllltl•s for tho audlt of th• finan¢lal $latsm¢nts We have been appointed as auditor under secb.on 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or hawng effect theunder. Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material mi551atement, whether due to fraud or error, and 10 Issue an Auditors, report that include5 our opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an audrt conducted In accordance with ISAS IUKI 11 atways dele¢t a material misstslement when rt exists. Misslalemenls can arise from fraud or error and are considefed material rf, individualty or in the aggregate. they could reasonably be expected lo influen¢e Ihe enoMiC decisions of users taken on the basis of the$e financial $tslemenls. Irregularities, including fraud, are instsnces of non-compliance wlh laws and gUlatiOns. We design procedures in line wlh our responsibilibes. outlined above, lo dete¢t material mi$stalemenl$ in re$pe¢i of irregularities. including fraud. The extent to which our procedures are Capable of detecting irregularrtie$, including fraud is detailed below.. Enquiring of managemenl and those charge(I govemance around acfval and potential litigab'on and claim., Reviewng board meeting minutes of meetings of those charged wlh govemance., Reviewing financial statement disclosures and testing to supporb'ng documentstson to assess compliance wf(h applicable laws and regulations., Performing audit work over the risk of management override of controls, including lesling of journal entries outside the nom)al course of business and reviewng accounting eslimales for bias. Because of the inherent limitations of an audit, there is a risk that we wll not detect all irregularities. including those leading to a material misstatement in the financial statements or non•compliance wrth regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial 51atement5, as we will be less likely lo become aware of instances of non-compliance. The risk is also greater regarding Irregulanties occurring due to fraud rather than error, as fraud involve8 intentional concealment. forgery. collusion. omission ¢y MispreSenlI0n. A further description of our responsibilities for the audit of the financial ststements is located on the Financial Reporb'ng Council's web511e at.. WVhV.frc.or .ukJauditorsres nsibilitie5. Thi5 de5cripb.on fomis part of our Auditors, report. Uso of our report This port is made solely lo the charitable company's Injslees. as a body. in accordance with Part 4 of the Charits'es (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an Auditors. report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone other than the chantable company and ils members, as a body, for our audit work, for this report, or for the opinions we have fofmed. Page 27
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF RAYS OF SUNSHINE ICONTINUEDI BKL Audlt LLP Chartered Accountsnts Statutory Auditor 35 Ballards Lane London N3 1XW EEL Aidi6 LLP Date.. 2310412025 BKL Audit LLP are eligible lo act as auditors in tems of section 1212 of the Companies Act 2006. Page 28
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 30 JUNE 2024 Unrnstrictsd funds 2024 Rostrictsd funds 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Gifts in Kind Investments Other income 1,002,284 821.962 1S.678 161.487 67,735 1.070,019 821,962 15,678 161,487 1,657,413 567, 790 11,325 53,802 Total In¢om• 2,IJ01.411 67,735 2.069,146 2,290,330 Expondlture on: Raising funds Charitable acliwbe8 661.144 2,7S0,588 661,144 2.799,821 786,588 2,578,426 49,233 Total •xp•ndltur• 3,411.732 49,233 3.460,965 3,365,014 Not lexpenditurnifincomo befor• not gain$lllosyè$l on inv•$tmonts Nel gainslllo$sesl on inve$lmenls 11.410.321) 198,440 18.502 11.391,8191 (1,074.684? 198,440 (43,913) N•t movemènt In funds 11,211.881} 18,502 11.193,3791 (7, 118,597) Roconclllatlon of funds: Total funds brought forward Nel movement in funds 3,941.098 11,211.881) 77,035 18,502 4.018,133 5, 136, 730 11,193,379) (Y, 118.597) Total funds carried forward 2,729.217 95,537 2.824,754 4,018, 133 The Statement of Financial Adivrties includes all gains and losses renised in the year. The notes on pages 33 to 51 fom) part of these financial statements. Page 29
RAYS OF SUNSHINE IA Company limited by guaranteo) REGISTERED NUMBER: 04860607 BALANCE SHEET AS AT 30 JUNE 2024 2024 2023 Mole Flx•d assèts Tangible assets Investments 13 14 14,930 3,065,67S 19,344 3,951,978 3,080,60S 3,971,322 Current a$$ots Debtors Cash al bank and in hand 15 165,148 132,003 263, 105 448,628 297,1S1 711, 733 Creditors.. amounts falling due within one year 16 1553,0021 (664,922) Not current Illabllltlesl l a8S•ts {255,8S11 46,811 Total not ass•ts 2,824.754 4,018, 133 Charlty funds Re$lri¢led fvnds Unrestricted funds 17 95,537 2,729,217 77,035 3,941,098 17 Total funds 2,824.7S4 4,018, 133 Page 30
RAYS OF SUNSHINE IA Company limited by guaranteo) REGISTERED NUMBER: 04860607 BALANCE SHEET (CONTINUED) AS AT 30 JUNE 2024 The entity was ents'ed to exemption from audit under seth'on 477 of the Companies Act 2006. The members have not required the entty to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. However. an audit is required in accordance wth section 144 of Uie Charities Act 2011. The Trustees acknovAedge their responsibilities for complying wlh the requirements of the Act with resped to accounting records and preparation of financial statements. The financial statements have been prepared in accordance y1h the provisions applicable lo enlilies subject lo the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Mr Stephen Allan OBE (Trusteel Dale.. 2310412025 The notes on pages 33 10 51 fomi part of these financial Stslements. Page 31
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2024 2024 2023 Cash flow4 from oporating a¢tlvities Net cash used in operating activities 11,406.9671 (1,059,680) Ca$h flo from Invg$lng actlvlllos Dividends, interests and rents from investments Purchase of tsngible fixed assets SalellPur¢hasel of inveslmenls 15.678 {10.0781 1,084,742 11,325 (8,514) (3,995,890) Not cash provlded byllus•d inl Investlng activltles 1,090.342 13,993.0791 Cash flow8 from finan¢lng acllvStS0s Not cash provlded by financlng actlviti• Changg In cash and cash oqulvalgnts In th• year Cash and cash equivalents al the beginning of the year {316,6251 15,052,759) 448.628 5,501,387 Cash and cash equlvalents at th• end of the year 132.003 448,628 The notes on pages 33 10 $1 fom part of these financial stslements Page 32
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 General information Rays of Sunshine is incorporated as a charitable company limtted by guarantee Icharity number 1102529. company number 048806071. It is govemed by its Memorandum and Articles of Association, as amended by a special and a vrritten resolution dated 16 May 2011. Accounting poll¢le$ 2.1 84¥1s of proparatlon of financlal ststèmonts The financial slalemenls have been prepad in accordance the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffecbve 1 January 20191. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Ad 2006. Rays of Sunshine meets the definibon of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al histori1 wst ¢y transaction value unles$ olhetwse slated in the relevant accounting policy. 2.2 Golng concèm The Trustees have considered a period of one year from the dale of approval of the accounts. The charity incurred a deficit 01 £1.249.948 in unreslrided fvnds during the year and al the year end the charity had net current liabilities of £293,970. At 30 June 2024 toial unrestricted funds amounted to £2,691,150. The trustees have considered expected fiJture cashflows, and al the time of approving the financial statements the trustees have a reasonable expectation that the charity ha5 adequate resources lo continue in operational existence for the foreseeable future. Thus the Trustees continue lo adopt the going concern ba*s of accounting in pfeparing the financial slalements. 2.3 Incom8 All income is recognised once the Charity has entitlement to the income. il is probable that the income wll be received and the amount of income CeiVable can be measured reliably. The recognition of income from lega¢ies is dependent on estsblishing entillemenl, the probability of receipt and the ability to estimate sufficient accuracy the amount receivable. Evidence of enlillemenl to a legacy exists when the Charity has sufficient evidence that a gift has been left to them Ilhrough knovledge of the existence of a valid wll and the death of the benefactor) and the executor is satisfied that the property in question 11 not be required lo satisfy claims in the estate. Receipt of a legacy musl be re¢ognised when it is probable that it 11 be re¢eived and the fair value of the amount receivable. which sMII generalty be the expected cash amount to be distributed to the Charity, can be reliably measured. Donations, including grft aid, are recognised Yknen the charty has confimialion of both the amount and settlement dale. In the event of donabons pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation is subject lo Conditions that require a level of perfomiance before the charity is entided to the funds, the income is deferred and not recognised until either those condth'ons are fvlly met, or the fulfilment of those conditlons is wholly within the control of the charity and rt is probable that those conditions will be fulfilled in the reporting penod. Page 33
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 A¢¢ountlng poll¢l•$ l¢ontlnu•d} 2.3 Income (continued} Donations in kind, in¢ludingServi¢es an¢J facilities donated Ifor free or discounted) to the charity lor ils own use are included as income at their value to the chanty as at the time of the gift with an equivalent amount included in expenditure. Where goods or services are provthd to the charity as a donation that would normally be purchased from suppliers. this conlribub'on is induded in the financial statements as both income and expenditure at its estimated fair value based on Ihe value of the contribution to the charity. Many items donated lo the charity include a 'monewn'l4Juy element, such as the lime provided by ¢elebnlies lo rneel the children and attend charity events. and therefore no commercial value hay been placed on these gifts in kind in the financial statements. Income lax recoverable in relation to inveslmenl income is recognised al the ts'me the investment income 1$ receivable. Other income is recognised in the period in %thich il Is receivable and to the extent the goods have been provided or on completion of the service. 2.4 Expendllur• Expenditure is recognised once there is a legal OT constnjctive obligation to transfer economic benefit lo a third party. it 15 probable that a transfer of eeonomic benefi15 wll be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by aclivily. The coslg of each activity are made up of the lotsl of direct costs and shared costs, includin9 SUPPOrt costs involved in undertaking each a¢bvity. Dired wsts attributable to a single activity a allocated dire¢lly lo that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned befvleen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of tsme spent, and depreciab'on charges allocated on the portion of the asset's use. Expenditure on raising funds indude$ all expenditure inCUrd by Ihe Company to raise fvnd$ lor ils charitable purposes and includes costs of all fundraising ath'vth'es events and non-charitable trading. Expenditure on charitable actiwts.es is incurred on direcuy undertaking the aclivf(ies vthich fvrther the Companys objeth"ves, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 2.5 Tangible fixed assets and depreciation Tangible fixed assets cosb.ng £500 or MO are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciabon and any accumulated impairment losses. All c051s incurred to bring a tangible fixed a55et into ils intended vlorking condition should be included in the MeasuMent of cost Page 34
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 A¢¢ountlng poll¢l•$ l¢ontlnu•d} 2.5 Tangible fixed assets and depreciation {continued Depreuatson is Charged so as to allocate the cost of tsngible fixeil assets less their residual value over their eslimaled useful lives, Depreciation is provided on the following basis.. Fixtures and fittsngs Office equipment 33% Straight line 33% Straighl line 2.6 Investment¥ Fixed asset investments are a fom of financial instrument and are inrtially recognised at their Iransadion ¢ost and subsequently measured al tsir value at the Balance sheet dale, unless the value cannot be measured reliably in which case il is measured al cost less impairment. Investment gain8 and losses, vthether realised or unrealised, are combined and presented as 'GainsllLo$sesl on investments, in the Statement of financial activitie$. Investments in Subsidiaries are valued at cost less provision for impairment. Investments held as fixed assets are shown at cost less provision for impaimienl. 2.7 0gbtor¥ Trade and other debtors are Teeognised al the settlement amount after any trade discount offered. Prepayments are valued al the amount Prepa net of any trade discounts due. 2.8 Cash at bank and In hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or le35 from the date of acquisitson or opening of the deposit or Similar account. 2.9 Llabllltles and provlsions Liabilities are recognised vthen there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be iequired in settlement, and the amount of the settlement can be estimated reliably. Liabilities are cOgnised at the amount that the Company anbcipates Tt wll pay to setue the debt or the amount il has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts. discounted at the pre-tax discount rale that refle¢ts the risks specific lo the liability. The unwinding of the disLInt is recognised in the Ststemenl of financial activities as a finance cost. Page 35
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 A¢¢ountlng poll¢l•$ l¢ontlnu•d} 2.10 Allocation of support and govemance costs Support costs represent Indi¢t charitsble expenditure. In order lo carry out the primary purposes of the charity. it is necessary to provide support in the form of support staff. Within support costs are also govemance costs, which include the costs of statutory compliance and other costs related to the governance of the charity. Finally, all support and govemance costs were allocated in the following proports"ons.' 70% lo charitable activities and 30% to raising fvThYs. 2.11 Financial instruments The Company only has financial assets and finanual liabilits.es of a kind that qualify as basic financial instruments. Basic financial Instruments are Initially recognised al transaction value and subsequently measured at their settlement value the exception of bank loans which are subsequently measured al amortised cost using the effeclive interest method. 2.12 Fund accountlng General funds are unreslncted fijnds which are available for use at the discretion of the Trustees in furtherance of the general objects'ves of the Company and 1¢h have not been designated for other purposes. Restricted funds are funds vthich are to be used in accordance wth specific restrictions imposed by donors or whieh have been raised by the Company for particular purposes. The costs of raising and dminislering such funds are Charged against the specific fund. The aim and use of each reslricled fund is sel out in the notes lo the financial slalements. Investment income, gains and losses are allocated to the appropriate fund. Page 36
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Income from donations and legacies Unrestrict8d RtriCt9d nds funds 2024 2024 Total funds 2024 Donations Legacies 1,000,284 2,000 1,000.284 69,735 67,735 1.002.284 67,735 1,070.019 Unreslricled funds 2023 Total funds 2023 Donations Legacies 7.644,260 13, 153 7,644,260 13, 153 1,657,413 1,657,413 Page 37
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Gifts in kind Unrestricted funds 2024 Total funds 2024 Wishes Other services Fundraising costs IT Services Office costs Other support costs 545,895 52,138 208,294 3,424 6,000 6,211 545.895 52.138 208,294 3,424 6.000 6.211 821,962 821.962 Unrestricl8d funds 2023 Total funds 2023 Wishes Other services Fundraising costs Communicatsons IT services Office costs Other support costs 248,228 28,638 177,300 85,152 9,318 7, 742 11,412 248,228 28,638 777,300 85, 152 9,318 7, 742 11,412 567, 790 567, 790 The charity received grfts in kind valued at £821.962 12023". £567.7901 during the period. In addition. a significant number ol gifts were received for which rt is difficult to attribute a value. For example. the time provided by celebrities to meet children and attend charity events. 11 has not been possible to attribute a value lo such gifts in these financial statements. Page 38
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Investment income Unrnstrictod funds 2024 Total funds 2024 Investment income 15,678 1S,678 Unrestricl8d funds 2023 Total funds 2023 Investment income 11,325 11,325 Other Incomlng r•sour¢ Unrnstrlctfjd funds 2024 Total funds 2024 Philanthrophy & Special Events 161,487 161.487 UnrestriGted funds 2023 Total funds 2023 Philanlhrophy & Special Everts 53,802 53,802 Page 39
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Expenditure on raising funds Fundraising trading expenses Unrestri¢tod funds 2024 Total funds 2024 Depreciation Philanthropy and special events Communicatsons Other fundraising costs Office expenses Staff costs 3,333 235,143 4,329 100,593 92,754 224,992 3.333 235,143 4.329 100,593 92,754 224.992 661,144 661.144 Un$1Cled funds 2023 Tot81 funds 2023 Depreciation Philanthropy and Special events Communi¢atsons Other fundraising costs Olfice expenses Staff costs 3, 158 311,600 25,232 104,622 92,596 249.380 3, 158 311,600 25,232 704,622 92,596 249,380 786,588 786,588 Page 40
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Analysis of expenditure on charitable activities Summary by fund typ• Unrestricted Restricted funds funds 2024 2024 Total 2024 Granb'n9 wishes 2,750,588 49,233 2,799.821 Un$11y¢18d funds 2023 Restricl8d funds 2023 Total 2023 Granting bmshes 2.524.484 53,942 2,578,426 Analy$ls of gxpondlturg by a¢tS¥1119$ A¢tlviti8• undertaken dire¢tly 2024 Support ¢o$ts 2024 Total funds 2024 Grants'ng b*ishes 2,429,661 370,160 2,799.821 A¢tWit$ undertaken d1cl1Y 2023 Support costs 2023 Total funds 2023 Grants'ng wshes 2.042.049 536.377 2,578.426 Page 41
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Analysis of expenditure by activities Icontinuedl Analy$l$ of dlr•ct costs Granting wishes 2024 Total funds 2024 Staff costs Wishes Office expenses Depreciation Communications Other services 669,485 1,290,695 233,902 8,405 12,988 214,186 669.485 1,290,695 233,902 8,405 12.988 214.186 2,429,661 2,429,661 Granting wishes Total funds 2023 2023 Staff costs Wishes Office expenses Depreciation Communicatsons Other SeNices 536,591 944, 729 229, 125 7,813 75,696 248,695 536,591 944, 129 229, 125 7,813 75,696 248,695 2,042,049 2,042,049 Page 42
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Analysis of expenditure by activities Icontinuedl Analys1$ of supp¢rt costs Granting wishes 2024 Total funds 2024 Staff costs Office expenses Depreciation Communicabons Govemance Costs 342,788 120,3581 2,755 4,331 40,644 342.788 120.358 2,755 4,331 40.644 370,160 370,160 Granting wish8s 2023 Total funds 2023 Staff costs Office expenses Depreciation Communications Govemance co$ts 346.333 52,887 2,5T6 17,661 116,920 348.333 52,887 2,576 17,661 7 16,920 536,377 536,3TT 10. Auditors. remuneration 2024 2023 Fees payable lo the Charivs au(Jrtor for the preparation and audit of the Charity's annual a¢¢ounts 13.000 22, 770 Page 43
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 11. Staff costs 2024 2023 Wages and salaries Social security cosls Contribution to defined contribLrtion pension schemes 1,083.152 116,026 38,087 999, 153 94, 151 39,000 1,237.265 1, 132,304 The average number ol persons employed by the Company during the year was as follows.. 2024 No. 2023 No. All employees 26 24 The number ol employees whose employee benefit$ (excluding employer pension costs) exceeded £60,000 w*5'. 2024 No. 2023 No. In the band £60.001- £70,000 In the band £70.001- £80.000 In the band £80,001- £90,000 In the band £100,001- £110,000 The key management personnel of the charity comprised the Trustees, the Chief Executive Officer, the Fundraising and Communicabons Director. the Head of Operats"ons. and the Head of Wishes. The lolal employee benefits, including sla1 se¢urity $1$ and employer pension contributions of the key management personnel of Ihe charity were £303,00012023'. £440,535) 12. Trtte$, remuneration and expenses During the year, no Trustees received any remuneration or other benefils (2023- £NIL). During the year ended 30 June 2024, no Trustee expenses have been incurred (2023- £NILJ. Page 44
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 13. Tangible fixed assets Fixturns and fittings Office equipment Total Cost or valuatlon At 1 July 2023 Add(tion$ 53.063 85,373 10,079 138.436 10.079 AI 30 June 2024 53,063 9S,452 148,S1 S Dopreclatlon Al 1 July 2023 Charge for the year 52,477 586 66,615 13,907 119,092 14.493 AI 30 June 2024 53.063 80,522 133.585 Not book valuè AI 30 June 2024 14,930 14,930 AI 30 June 2023 586 18,758 19,344 Page 45
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 14. Fixed asset investments Investments in subsidiary Listed Companlos Inv•stmonts Total Cost or valuation Al 1 July 2023 Disposals Revaluations 3.951,977 3,951.978 11.084,7421 11,084.742 198,439 198,439 AI 30 June 2024 3.065,674 3,065.675 Not book value At 30 June 2024 3,06S,674 3,065,675 AI 30 June 2023 3.951,977 3,951,978 Prlnclpal juhldiari The following wa$ a subsidiary undertaking of the Company. It is a domianl entity.. Nam Company number Registered offlce or prlnclpal place of bu$intss Rays of Sunshine Promotions Limited 07975115 304 Regents Park Road. London, England, N3 2JY Page 46
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 1S. Debtors 2024 2023 Due wlthln one year Trade debtors Other debtors 41.194 22,328 101.626 110, 134 22,328 130,643 Prepayments and accnjed income 165,148 263. 105 16. Credllors: Amounts falling du? wlthin ong yoar 2024 2023 Trade creditors Other taxation and social security Other creditors Accruals and deferred income 50,009 21.464 36,136 445,313 19,266 108,263 537,393 553.002 664,922 AI 30 June 2024, included within accruals and deferred income are committed wishes lotslling £423,750 12023. £478.2651. Page 47
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 17. Statement of funds ststem•nt of fund$ - current year Balance at 30 June 2024 Balance at 1 July 2023 GainBI {L055e¥l Income Expendlture Unrestricted funds General Funds - all fiJnd$ 3.941.098 2.001.411 13.411.732) 198.440 2,729.217 Rostrlctod funds Specific wshes Other services Unallocated amounts 23.012 54.023 23,012 72.473 52 67.735 {49,2851 $2 77.035 67,735 {49.2331 95.537 Total of fund8 4.018,133 2.069,146 13,460,965) 198,440 2,824,754 Statomont of funds - prlor year Bal8nce at 30 Jun& 2023 Balanc8 al l July 2022 TTrnsfe in/oul G8ins/ (Lossgsj Income Expenditure Unrtried funds General Funds- all funds 5.060,526 2.254, 765 (3.312.585) (17.695) (43,913) 3,941,098 Rastrictsd funds Specific wshes Other $etvices 23,581 52.623 (569) 18.264 23,012 54.023 35.565 (52,429) 76,204 35,565 (52,429) 17,695 77,035 Total of funds 5. 136. 730 2,290.330 (3.365.014) (43.913) 4,018. 133 Page 48
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 18. Analysis of net assets between funds Analys1$ of n•t assets b•twn fund$- curr•nt p•rlod Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Fixed asset investments Current assets Creditors due wrthin one year Difference 14,930 3,065,675 201.666 1553,0021 1521 14.930 3,065.675 297.151 1553,0021 95,485 52 Totsl 2.729.217 95,537 2,824.754 Analy$l$ of n*t a$$gts bot%wen fund$- prfor period Unrestricled funds 2023 Reslricl8d funds 2023 Total funds 2023 Tangible fixed assets Fixed asset inve5tmer Current assets Creditors due wthin one year 19,344 3.951,978 634.698 (664,922) 19,344 3,951,978 71 I, T33 (664.922) 77,035 Totsl 3.941,098 77,035 4,018, 133 Page 49
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 19. Reconciliation of net movement in funds to net cash flow from operating activities 2024 2023 Nel expenditure for the period (as per Statement of Financial Aclivrties} 11,193.3791 (7, 118,597) Adjustm8nts for: Depreciats'on charges (Gainslllosses on investments Dividends. inlere$ls antj rents from investments Loss on the sale of fixed assets 14.493 {198,4391 115,6781 13,54T 43,973 (11,325) 981 Iln¢reasellde¢rease in debtors Increaselldecreasel in creditors 97.956 {73,8011 (89. 759? 101,560 N•t cash usod Sn op•ratbng actlvltS8s 11,368.8481 (1,059,680) 20. Analysls of Cash and Cash oquivalonts 2024 2023 Cash in hand 132.003 448,628 Total cash and cash •qul¥al8nts 132,003 448,628 21. Analysls of changos in not debt At1Juty 2023 Cash flows At 30 Jung 2024 Cash al bank and in hand 448.628 {316.6251 132.003 448.628 {316.6251 132.003 Page 50
RAYS OF SUNSHINE {A ¢¢mpany limitod by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 22. Operating lease commitments AI 30 June 2024 the Company had commitments lo make futu minimum lease payments under non- cancellable operating leases as lollows.. 2024 2023 Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years 107.172 330.447 107. 172 428,688 8,931 437,619 544, 791 23. R8lat8d party transactSon$ The Charity received donatsons and gifts•irkind from various organisab"on$ in which some of the charity's Trustees have an interest. Gravlta Justin Randall, a Trustee of the charity, was a partner al Grawts Ipreviously Jeffreys Henry LLPI until 0210212023. The fim provided the chanty wth provbono payroll servicse for £NIL12023.. £3,500). Advertising Space paid £NIL 12023 £50.0001 for the Gala Sponsorship Package. Stephen Allan. the Chair of Board of Tnjstees is a Director of MSA Advertising lch owns a majority stake in i-media. Capltal Group Annual donation of £12,00012023.. £21.0001 made by the Foundation vthere Rays of Sunshine has been nominated by Caroline Randall -%wfe of Trustee Justin Randall. Purple Surglcal Purple Surgical. whose director Robert Shawpe is husband of Trustee Jane Sharpe, paid £NIL 12023.. £19,865) for the Annual Patronage. £8,865 raised by Jolie Sharpe, daughter of Trustee Jane Sharpe raised £NIL12023.. £8,865) to sponsor London Marathon challenge. Justco Manag8mont Limitsd Justco Management Limited. in vthich Trustee Justin Randall is a director, donated £1,500 towards Golf Day 202412023.. £NILI and £10012023.. £NIL} towards ihe R Walters BGC. Other donations from trustees Justin Randall donated £5.00012023." £NILI towards the Annual Patronage. Stephen Allan donated a lotsl of £11,50012023.' £NILI towards the Annual Patronage renewals and the Golf Day 2024. Page 51