Registered number.. 04860607 Charity number: 1102529 RAYS OF SUNSHINE (A company limited by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 RAYS OF SUNSHINE (A company limited by guarantee) CONTENTS Page Reference and administrative details of the Company. its Trustees and advisers Chalrman's statement Trustees. report 4-24 Independent auditors. report on the financial statements 25-28 Statement of flnanclal actlvities 29 Balance sheet 30-31 Statement of cash flows 32 Notes to the financial statemonts 33-52 RAYS OF SUNSHINE (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2025 Trustggs Mr Stephen Allan OBE Mr Justin Randall FCA Mr Daniel Coleman Dr Ronelle Naidoo Mr Divyesh Popat Mrs Jane Sharpe Nicolas Breleau (appointed 5 November 20251 Hayley Allan lappoinled 22 January 2025) Mark Shipman (appointed 22 January 20251 Company reglstered number 04860607 Charity registered number 1102529 Reglstered offlce 4th Floor Berkeley House London N3 2JY Company secretary Daniel Jagger Chief exe¢utlve officer Amy Chambers Independent audltors BKL Audit LLP Chartered Accountants 35 Ballards Lane London N3 1XW Bankers Barclays Bank plc 27 Soho Square London W1D 3QR Sollcltors Ingram Winter Green LLP Bedford House 21A John Street London WC1N 2BF Page 1 RAYS OF SUNSHINE (A company limited by guarantee) CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 30 JUNE 2025 The chairman presents his statement for the year. The year ending June 2025 was one of purpose, progress, and ￿reful stewardship for Rays of Sunshine. Against a backdrop of continued pressure on families, healthcare servi￿$ and the voluntary sector, the charity remained focused on what mallers most.. bringing happiness, hope, and moments of light to seriously ill children and their families across the United Kingdom. Every year, l am reminded of the extraordinary resilience shown by the children and families we support. For many, serious or life limiting illness brings prolonged periods of treatment, uncertainty, and isolation. Rays of Sunshine exists lo ease that burden, whether through a once in a lifetime wish, joy filled moments in hospital, or opportunities for families lo reconnect through shared experiences. During the year, demand for our services continued lo grow, underlining both the scale of need and the importance of our work. l am immensely proud of how the charity has responded. In 2024 to 2025, Rays of Sunshine granted 286 individual wishes, expanded its Sunshine in Hospitals programme, and delivered a wide range of community events that helped families feel connected long after a wish had taken place. These activities are more than moments of happiness. They offer reassurance, emotional strength, and memories that families carry with them through the most difficult of times. Alongside strong programme delivery, the Trustees have remained focused on ensuring the charity is resilient and sustsinable for the long term. The year included important decisions lo align our cost base with income and to strengthen our financial position in an uncertain environment. These were not easy decisions, but they were taken to protect the charity's ability to continue supporting children both now and in the years ahead. Prudent financial management in previous years, combined with careful oversight during the year, has allowed Rays of Sunshine lo maintain stability while continuing to deliver meaningful impact. None of this would be possible without the dedication and compassion of our staff and volunteers. Their commitment, creativity, and care underpin every wish, hospital visit, and family event. I would like to thank each of them for the professionalism and kindness they bring to their roles, often in emotionally demanding circumstsnces. l am also grateful to our supporters, corporate partners, trusts and foundations whose generosity enables our work and whose confi'dence in the charity we value deeply. On behalf of the Board, I would like lo thank the Executive Team for their leadership during the year and for their continued focus on quality, safeguarding and accountability. The Trustees remain fully commilled lo ensuring that Rays of Sunshine is well govemed, transparent and firmly focused on delivering public benefit. During the year, Amy Chambers formally look up the role of Chief Executive Officer. Her appointment reflects the strength of internal Suc￿$s1on and the depth of leadership within the charity. It is always encouraging when an organisalion can develop and promote from within, providing continuity, stability and a clear understanding of our mission and values. The Trustees look forward to continuing lo work closely with Amy as she leads the charity through ils next phase of growth and impact. Page 2 RAYS OF SUNSHINE (A company limited by guarantee) CHAIRMAN'S STATEMENT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2025 Looking ahead, the need for Rays of Sunshine's work shows no sign of diminishing. The Trustees are confident that the charity is well positioned to meet that need, with a clear strategy, strong partnerships, and a stable financial foundation. We remain commilled lo reaching more children, delivering experiences that truly make a difference, and doing so in a way that is responsible, sustainable, and worthy of the trust placed in us. To the children and families who allow us lo be part of their journeys, It is a privilege to do this work. Everything we do is for you. Mr Stephen Allan OBE Chairman Date.. 0410312026 Page 3 RAYS OF SUNSHINE (A company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 30 JUNE 2025 The Trustees present their annual report together with the audited financial statements of the Company for the ended 30 June 2025. 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 with the current slatulory requirements, the requirements of the charitable companls governing document and the provisions of the Statement of Recommended Practice (SORPI applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 (effective l January 20191. Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. Objectives and activities Policies and objectives The objects are.. The Charills Objects are restricted specifically to relieve the charitable needs of children and young adults who have Illnesses or disabilities causing limited life expectancy or who suffer from long term physical or mental disabilities lincluding learning difficulties). Rays of Sunshine seeks lo brighten the lives of seriously and terminally ill children and young people aged three to eighteen across the United Kingdom. The charity aims to reduce isolation, anxiety, and emotional strain associated wtth serious illness by providing moments of joy through the delivery of wishes, hospilal-based activities, and community events that support children and their families during and beyond treatment. The activities undertaken by the charity directly further its charitable purposes by improving emotional wellbeing, strengthening family relationships, and promoting social connection. All services are provided free of charge and are designed lo deliver clear public benefit by supporting children and families facing significant health challenges. In selling objectives and planning for aclivilies, the Trustees have given due consideration lo general guidance published by the Charity Commission relating lo public benefit, including the guidance 'Public benefit.. running a charity IPB21'. Page 4 RAYS OF SUNSHINE (A company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2025 Objectives and activities Icontinuedl b. Strategies for achieving objectives The charity pursues its objectives through a national delivery model that SLJPPOrts seriously ill children, young people and their families through a continued journey of joy. This model is designed lo provide meaningful moments of happiness, connection and support al different stages of a child's experience of serious illness, from time spent in hospital through to life beyond treatment. The charity s work is delivered through three core programmes.. life-changing wishes, Sunshine in Hospitals, and ongoing support through our Wish Community programme offering in person and online wish community events for wish families. Life-changing wishes provide children and their families with moments of joy, hope, and lasting positive memories. Sunshine in Hospitals brings happiness, play, and creative engagement into clinical settings, helping to reduce anxiety and improve emotional wellbeing during treatment. Our wish community ensures families remain connected lo the charity and to others with shared experiences, extending support beyond the delivery of a wish, creating peer networks and boosting confidence, whilst reinforcing a sense of belonging. These programmes are delivered in close partnership with medical professionals, hospitals, hospices, and families to ensure activities are safe, appropriate, and responsive to individual needs. The charity is supported by strong relationships with corporate partners, charitable trusts, foundations, and individual supporters, enabling it to sustain delivery and continue bringing joy lo ehildren and families across the United Kingdom. Impact and delivery quality are monitored through feedback from beneficiaries, families, and medical professionals. which informs ongoing programme development. Investment in staff, volunteers, and digital systems supports operational efficiency, governance, and accountability. Prudent financial management and regular review of reserves ensure that the charity remains financially resilient and able to deliver its services over the long term. ThroLJgh this approach, the charity ensLJres that its activities consislenlly support ils objectives and deliver public benefit lo seriously ill children and their families. Page 5 RAYS OF SUNSHINE (A company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2025 Objectives and activities Icontinuedl Activities undertaken to achieve objectives The charity fulfils its objectives through the delivery of wishes, hospital based aclivilies, and wish community events, supported by volunteers and partner organisalions. These activities are designed lo improve the wellbeing of seriously ill children and provide meaningful support lo their families. Sunshine in Hospitals The charity works in partnership with hospitals, hospices, and specialist units to deliver regular play based and creative activities and projects that support a child or young person's health outcomes. These activities and projects provide positive distraction during treatment, support emotional wellbeing, enhance the hospital experience and help aid a child or young person's response to treatment. OLJr hospital programme also plays an important role in connecting children and young people to a wish and lo our wider Wish Community pr(Igramme. In addition, il provides complementary value to clinical teams, supporting the holistic care of seriously ill children and young people. Wish Granting The charity grants personalised, often life-changing, wishes for children and young people living with serious or life limiting illnesses. Wishes are referred to us in collaboration with medical professionals who help us reach the children and young people most in need. Each wish is designed in consultation with the child or young person and their families, lo ensure it is tailored and enhanced accordingly and delivered in a manner that is safe and appropriate to each child's circumstances. Wish granting remains a central activity through which the charity delivers direct benefit to children and their families. Wish Community Events Wish Community events provide opportunities for families who have previously received a wish lo remain connected to the charity and lo one another. These events support social connection, reduce isolation and help families build informal peer networks, while strengthening confidence and resilience. Delivered both in person and online across the UK throughout the year, Wish Community events give children and young people living with serious illness access to enriching experiences, such as horse riding, skiing and other specialist activities, that may otherwise be inaccessible due to financial, health or practical barriers. Above all, they are designed lo create safe, inclusive spaces where families can enjoy meaningful moments of joy and continued support for as long as they need. The Choir, Youth Panel and Bright Board In addition to our core programmes, Rays of Sunshine provides structured opportunities for children and young people to express themselves, influence OLJr work and develop skills for the future. Through the Choir, Youth Panel and Bright Board, we create meaningful pathways for participation and personal development. The Rays of Sunshine Choir brings together children and young people with a love of music, offering regular opportunities to sing, perform and connect throLJgh shared creative expression. In addition to performing at charity and external events, Choir members have enjoyed writing and releasing their owr) original song, providing a powerful platform for creativity and self-expression. The Choir fosters confidence, emob.onal wellbeing and friendship, while building self-belief and creating a strong sense of belonging. The YoLJth Panel ensures that the voices of children and young people are al the heart of the charity's work. Acting on behalf of our beneficiaries, Panel members use their lived experience to inform programme design, communications and strategic decision-making. Their insight and advocacy help ensure our services remain relevant, inclusive and responsive to the needs of the children and families we support. Page 6 RAYS OF SUNSHINE (A company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2025 Objectives and activities Icontinuedl The Bright Board is a dedicated development programme for young people aged 18 10 25 who have lived experience of serious illness. It provides mentoring, skills development and practical experience lo support participants as they transition into adulth(iod. By building confidence, employability skills and professional networks, the Bright Board helps reduce the longer-term disadvantage that can arise from disrupted education or extended periods of treatment. Together, these programmes demonslrale the charity s commitment to listening lo, investing in and empowering young people at every stage of their journey, enabling them not only to experience joy, but also lo shape their futures and contribute to the wider community. The Trustees confirm that all activities undertaken during the year were consistent with the charity s objects and provided public benefit in accordance with section 17 of the Charities Act 2011. Programme development and innovation The charity continues to develop and pilot programmes in response to identified gaps for seriously ill children, young people and their families, informed by direct engagement with families, clinicians and hospital partners. These iniliab.ves are designed to enhance a child or yOLJng person's lived experience of treatment, support better health outcomes, and ensure compassionate, appropriate care at every stage of a familys joumey, including during times of profound loss. Liquid to Tablets Following the successful pilot of the Liquid to Tablets programme in the previous year, the charity focused during 2024125 on evaluation, leaming, and preparation for future expansion. The programme, developed in partnership with Leeds Children's Hospital, supports children lo transition from liquid medication to tablet medication a change that can reduce the distress and trauma often associated with long-lerm liquid medicines, promote greater independence, and improve health and wellbeing outcomes during treatment. To dale, more than 250 children across ten hospitals have participated in the programme. Feedback gathered from children, families and clinicians during the year highlighted the lasting benefits of the inlervenlion. For many children, liquid medication is associated with distress, disruption to daily life, challenges with adherence, and negative impacts on oral health. Tablets, by contrast, offer greater independence, flexibility and control, reducing anxiety around treatment, supporting improved adherence where clinically appropriate, and enabling more normal routines at school and at home. During the year, the charity concentrated on understanding outcomes and refining the approach, ensuring the programme is clinically appropriate, scalable and responsive to individual needs. The Trustees view Liquid lo Tablets as a strong example of how Rays of Sunshine can deliver practical innovation that reduces treatment- related trauma. supports independence and contributes to improved health experiences for children, and will consider opportunities to expand the programme further in future periods. Bereavement pathway and family support Due lo the nature of our work and the families we support, there are occasions where, sadly, the children and young people we support pass away. This may occur at any stage of their journey with Rays of Sunshine from the point of referral for a wish through to participation in our Wish Community- The charity is commilled to ensuring that appropriate procedures and compassionate support are in place for bereaved families, as well as for members of staff who may be impacted. We are developing a structured bereavement pathway designed to provide sensitive, timely and holistic support during an exceptionally difficult period. Page 7 RAYS OF SUNSHINE (A company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2025 Objectives and activities Icontinuedl Where appropriate, and guided by the wishes of the family, we will explore how a child's wish can be honoured in a way that reflects their memory. This may include adapting or continuing elements of the wish for parents and siblings or offering an alternative opportunity to create a meaningful moment in remembrance of their loved one. We wll continue lo offer holistic support and signpost families lo specialist services available lo them, while developing partnerships with dedicated bereavement organisations to ensure families feel SLJPPOrted, less isolated and able to navigate a path forward. d. Volunteers Volunteers play an important and integral role in supporting the charity's activities and extending its capacity lo deliver servi￿$ effectively and efficiently. They contribute across programme delivery, fundraising and operational functions, enabling the charity lo reach more children and families while directing a greater proportion of resources towards direct charitable activities. During the year, volunteers supported the charity by hosting wish experiences for children and their families., assisting with Sunshine in Hospitals activity days and the distribution of sensory resources,. supporting Wish Community Events to ensure accessibility and family engagement, contnbuling lo operational areas including database management, finance and administrative support,. and representing the charity at fundraising events, cheer points and community initiatives. In lots1, 185 volunteers contributed approximately 2,600 hours during the year, equivalent to around 1.5 full-time staff. This contribution represents significant additional capacity and social value, helping to reduce delivery costs, strengthen operational resilience and increase the reach of charitsble aclivilies. Through their involvement, volunteers directly support the charity in achieving ils objectives and providing public benefit by improving emotional wellbeing, supporting families and creating positive experiences for children affected by serious illness. e. Main activities undertaken to further the Charity's purposes for the public benefit Rays of Sunshine Children's Charity delivers public benefit by improving the quality of life and emotional wellbeing of seriously and terminally ill children and young people across the United Kingdom. All activities are provided free of charge and are directed towards relieving the needs of children affected by serious illness and supporting their families. Achievements and performance Main achievements and performance of the Charity During the year ended 30 June 2025, Rays of Sunshine continued to create moments of joy, connection and hope for seriously and terminally ill children and their families across the United Kingdom. Through the delivery of life-changing wishes. hospilal-based activities and indusive community events, the charity supported families during the most difficult time in their lives and helped create positive memories that extend beyond a single moment. Demand for the charity's support remained high throughout the year. In response, Rays of SLJnshine increased delivery across ils core programmes, reaching more children in hospitals, granting more wishes and bringing families together through an expanded programme of community events. These achievements reflect both the ongoing need for the charitys services and the continued strengthening of partnerships with hospitals, clinicians, volunteers and supporters. Page 8 RAYS OF SUNSHINE (A company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2025 Achievements and performance Icontinuedl Sunshine in Hospitals Hospital-based work remains an important part of the charity's service delivery, providing a gateway lo building relationships wth medical professionals and enabling access to children and young people who may meet the criteria for a wish. The programme is fully inclusive and includes educational initiatives such as World Book Day activities, creative workshops, sensory engagement sessions and themed activity days. These activities provide positive distraction during treatment, reduce anxiety, support emotional wellbeing, help build resilien￿ and enhance the hospital experience for children and their families. During the year, the charity expanded its Sensory Bag iniliatDie, providing resources lo facilitate play-based interventions that stimulate and support children's development -including vision, hearing and touch during hospital visits. The charity also delivered regular themed activities and national celebrations, and attended outreach events including Great Ormond Street Hospital's annual Get Active Day and the British Transplant Games. The charity remains commilled to listening to hospital partners and medical professionals across the country lo ensure services continue to respond lo the needs of children and young people in their care. Feedback from medical professionals indicated that these activities had a positive effect on children's mood, engagement and resilience during treatment. Delivering magical wishes During the year, the charity granted 286 individual wishes lo children aged between three and eighteen. Wishes were tailored to each child's interests and circumstances and included experiences, family aclivilies, and the provision of equipment or resources that provided transformational support, improving emotional wellbeing, confidence and quality of life at critical points in a child's illness. Wish delivery continued to play a central role in supporting children and families facing serious or life•limiting illness. Wishes provided positive experiences that offered relief from the pressLJres of treatment, supported emotional wellbeing and enabled families to create lasting memories together. Feedback from families and healthcare professionals indicated that wish experiences contributed lo improved confidence, emotional resilience and a sense of normality for children. This positive emotional impact can also support a child's engagement with, and response lo, treatment during periods of significant challenge. Wish Community Events During the year, the charity delivered 35 Wish Community Events, reaching 1,554 children. young people and family members. These events form a central part of the charitys ongoing support. ensuring that families remain connected lo Rays of Sunshine and to others with shared experiences of serious or lrfe-limiling illness. Wish Community Events extend support beyond the delivery of a wish, recognising that a child's experience of illness does not end with a single moment. By bringing families together in inclusive, safe and ac￿Ssible settings, the charity helps reduce isolation, build informal peer networks and reinforce a sense of belonging for both children and carers. Events were delivered both in person and online across the United Kingdom and included family activity days, creative and recreational experiences, and partner-supported events. All activities were designed lo empower the child to do things they otherwise wouldn't normally do, and are fully accessible, enabling participation by children with a wide range of medical, sensory and mobility needs, as well as siblings and parents. Page 9 RAYS OF SUNSHINE (A company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2025 Achievements and performance Icontinuedl Feedback from families consistently highlighted the value of these events in supporting social connection, confidence and emotional wellbeing during and after periods of intensive treatment. Through Wish Community Events, the charity continues to provide meaningful support to families for as long as they need it. Innovation During the year, the charity invested in innovation to strengthen how its ServI￿S are delivered and to ensure it remains responsive, efficient, and resilient as demand continues to grow. A key element of this work was the implementation and ongoing development of a new customer relationship management system, Salesforce, representing a significant slep change in the charity's digital infrastructure. The introduction of Salesforce has improved the management of wish applications, volunteer coordination, SLJPPOrter engagement, and reporting processes. By reducing reliance on manual systems and fragmented data sources, the charity has strengthened oversight, improved data accuracy. and enhanced its ability lo monitor impact and delivery in real time. These improvements have reduced administrative burden and enabled staff and volunteers to allocate more time towards frontline delivery. The Trustees view the Implementation of Salesforce as a strategic investment that underpins future growth, supports stronger governance and accountability, and enhances the charitys abilty to deliver consistent, high quality support to children and families across the United Kingdom. Partnerships Collaboration remains fundamental to the delivery and sustainability of Rays of SLJnshine's work. The charity operates within a broad network of corporate partners, charitable trusts and foundations, medical professionals, hospitals, community organisations, volunteers, and individual supporters. These relationships enable the charity to deliver a continued journey of joy for seriously ill children and their families. Corporate partners provided financial support, employee fundraising, volunteering, pro bono expertise, and Gifts in Kind. These contributions supported wish delivery, hospital aclivilies, and community events, while also strengthening operational capacity and national visibility. Close working relationships with hospitals and clinical teams remained central to safe and effective programme delivery. Ongoing engagement with medical professionals ensured that referrals were appropriate and that activities delivered in hospital settings were aligned with clinical environments and patient needs. Through this collective support, the charity strengthened both its financial sustainability and ils capacity to reach more children across the United Kingdom. Wider social impact The charity's activities generate benefits beyond the children and families directly supported. Feedback from families indicates reduced anxiety, improved commLJnication and stronger coping mechanisms following a wish or participation in hospital and community programmes. These outcomes contribute to greater family stability and wellbeing during and after periods of intensive medical treatment. Hospital partners note that the charity's activities enhance patient experience and complement clinical care by improving children's m(iod, engagement and cooperation during treatment. In doing so, the programmes SLJPPOrt a more positive care environment within hospital settings. Volunteers and corporate partners also experience wider social benefits through their involvement, including Pag8 10 RAYS OF SUNSHINE (A company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2025 Achievements and performance Icontinuedl increased awareness of serious childhood illness, strengthened community connection and a deeper understanding of the challenges faced by affected families. Through its programmes and partnerships, the charity contributes lo improved emotional wellbeing. reduced isolation and increased positive social engagement for children and families, with wider benefits extending lo healthcare environments and the communities that support them. The Trustees are confident that the charity is well positioned to continue delivering its charitable objectives in the year ahead. Demand for Rays of Sunshine's services remains high, reflecting the ongoing needs of seriously and terminally ill children and young people and their families across the United Kingdom. Learning from the year under review has reinforced the importance of providing timely, meaningful support that improves wellbeing and offers moments of joy and respite during and beyond treatment. In the coming year. the charity will focus on increasing the number of life-changing wishes granted, ensuring that more seriously and terminally ill children and young people who can benefit from a wish are identified and supported. This ambition not only enables more children lo experience the positive impact of a wish, but also strengthens the chariws ability lo provide continued connection and support through ils Wish Community programme. Increased reach will be supported through strengthened referral pathways with medical professionals. continued collaboration with hospitals and hospices, and investment in safe, responsive wish delivery. Alongside wish granting. and as funding allows, the charity intends to expand ils Wish Community programme and Sunshine in Hospitals activities lo ensure sustained and inclusive support for children and families. These programmes provide imaginative, accessible experiences that reduce isolation, promote wellbeing and offer meaningful connection beyond the initial wish. To support these ambitions, Trustees recognise the need for continued investment in people, operational capacity and robust systems that enable effective and effficienl delivery. Prudent financial management, Income diversification, a focus on sustainable income, and the maintenance of appropriate reserves will remain central to ensuring that resources are available to meet growing demand in a challenging external environment. Through this approach, Rays of Sunshine will continue to reach seriously and terminally ill children and young people across the United Kingdom who can benefit from its work, ensuring that the charity's objectives are delivered in practice and that support, joy and wellbeing remain accessible to those who need them most. The Trustees remain committed to high standards of governance and oversight to secure the charity s long-term sustainability and impact. b. Key perfomiance indicators The Trustees monitor a range of indicators to assess progress against the charity s objectives and to ensure that activities deliver public benefit. These measures focus on programme delivery, beneficiary outcomes, and financial performance and are reviewed regulady by the Board. During the financial year 2024125, the charity continued to deliver its core programmes of wish granting, hospital engagement, and community events. Al activities undertaken directly contributed to the chariws objectives of relieving the needs of seriously and terminally ill children and supporting their emotional wellbeing and that of their families. Programme delivery and reach Wishes granted.. 286 wishes were delivered during the year. exceeding the internal target of 250. Sunshine in Hospitals.. the programme operated across 60 hospitals, hospices, and specialist units, Pag811 RAYS OF SUNSHINE (A company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2025 Achievements and performance Icontinuedl reaching 8,435 children. Wish Community Events.. 35 Wish Community Events were delivered, attended by 1,554 children, young people, and adults. Volunteer SLJPPOrt.. 185 volunteers contributed approximately 2.600 hours in support of the charitys activities. Review of activities Beneficiary outcomes Feedback from families and clinicians indicated that the charity's activities supported improved emotional wellbeing, reduced anxiety during treatment, and strengthened social connections for children and families. Families attending community events reported reduced isolation, while hospital partners confirmed that activities provided positive distraction and supported engagement in care. Performance against objectives Measured against the indicators set at the beginning of the year, the charity mel or exceeded its key delivery targets. Demand for wish granting and hospital activities remained strong, and community events continued lo provide inclusive opportunities for families lo remain connected following a wish. Progress was also made against strategic priorities identified in the previous year. The Liquid to Tablets initiative continued lo demonstrate positive outcomes for participating families, and improvements to digital systems supported more efficient management of wish applications and volunteer coordination. Financial performance Total income for the year was £2.553m, generated from a diversified range of voluntary income sources including corporate partnerships, trusts and foundations, special events, and individual giving. Expenditure remained proportionate to income, with the majority of resources directed towards charitable aclivilies. Overall assessment The Trustees consider that the charity has delivered its objectives effectively during the reporting period. The combination of strong programme delivery, positive beneficiary outcomes, and prudent financial management provides assurance that resources have been applied to maximise public benefit. The Trustees are satisfied that the experience and progress achieved during the year provide a sound foundation for continued delivery in 2025126. Pag8 12 RAYS OF SUNSHINE (A company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2025 Achievements and performance Icontinuedl d. Factors relevant to achieve objectives The Trustees recognise that the charills ability lo achieve ils objectives is influenced by both internal factors and the wider extemal environment. During the year, a combination of positive developments and ongoing challenges affected delivery and informed planning for future periods. Positive factors The charity continued to benefit from strong relationships with children's hospitals, hospices, and medical professionals. These partnerships supported effective referral pathways and ensured that wishes and hospital activities were delivered safely and appropriately. Support from corporate partners, trusts, and foundations also remained strong, providing a diversified income base and contributing to financial resilience. The commitment of staff and volunteers remained a significant strength. Staff experience and continuity SLJPPOrted consislenl delivery, while volunteers continued to contribute substantial lime and expertise across programmes and fundraising aclivily. Operational improvements. including enhancements to digital systems, improved efficiency, data quality, and oversight of aclivily. The charitys reputation and public profile continued to suptiort engagement with funders, volunteers, and partners, contributing to sustained demand for services and ongoing support. Constraining factors The wider economic environment continued to present challenges. Cost of living pressures and inflation affected some areas of fundraising and increased delivery costs, reqLJiring careful financial management. Demand for wishes and hospital activities remained high, placing pressure on capacity and requiring ongoing prioritisation and planning to maintain the quality of delivery. Pressures wthin the National Health Service continued to affect access to hospital sites and scheduling of activities, occasionally leading to delays in delivery. In addition, increases in costs associated with transport, venues, and insurance required closer monitoring and cost control. The Trustees have taken these factors into account when reviewing performance and setting priorities for the coming year, ensuring that resources are allocated effectively and that the charity remains resilient while continuing to meet demand for ils services. Impact on future plans The factors affeeling performance during the year have directly informed planning for 2025126. The Trustees have reviewed experience gained from current delivery and the external environment when setting priorities for the coming period. Key areas of focus include strengthening and diversifying income streams to support long term financial stability, expanding and supporting the volunteer base to meet continuing demand for services, and deepening relationships with medical professionals to improve referral pathways and access for children and young people with complex needs. The charity will continue to invest in data systems and pr(Icess improvements to enhance efficiency, reduce administrative burden, and improve oversight of delivery. Prudent financial management and maintenance of appropriate reserves will remain central to protecting programme delivery in the context of economic uncertainty. Pag8 13 RAYS OF SUNSHINE (A company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2025 Achievements and performance Icontinuedl By responding lo these factors, the Trustees remain confident in the charity s ability lo continue meeting its objectives and delivering public benefit in future periods. Fundraising activities and income generation Rays of Sunshine delivered a broad and active programme of fundraising activities during the year to support the delivery of wishes, hospital activities, and community events for seriously ill children and their families. Activity focused on strengthening long-temi relationships, maintaining strong supporter engagement, and ensuring a diverse and resilient income base. Corporate partnerships Corporate partnerships remained a key area of fundraising activity during the year. Corporate partners supported the charity through financial contributions, staff fundraising, volunteering, sponsored challenges and event sponsorship. These partnerships also provided valuable expertise and additional capacity to support operational delivery and the delivery of services. Support from corporate partners, including long-standing flagship relationships such as Bacla and more recent strategic partnerships such as ICAP, played an important role in both income generation and raising awareness of the charity's work. Participation in ICAP Charity Day provided vital financial support alongside a high-profile platform for engaging new supporters and stakeholders. The charitys partnership with Bacla continued lo deliver sustained financial contribution, reflecting the strength and longevity of that relationship. Special Events Special events continued lo play a significant role in generating income and engaging supporters. The Twenty- First Anniversary Gala Dinner was a major highlight of the year, celebrating the charity's impact while generating signtficant funds and strengthening relationships with supporters and partners. Philanthropy and Patrons The charity continued to benefit from the valued support of its Patrons. whose engagement and commitment strengthened the organisation's network and relationships. Through their involvement, Patrons provided meaningful philanthropic support and helped facilitate connections that contributed to income generation. Their support played an important role in enabling the charity lo deliver vital services to children and families and to pursue ils ambition to reach more beneficiaries in need. Individual Giving> Community and Challenge Events IndividLJal donors, community fundraisers and challenge participants remained central to the charity's income generation. Families, schools and local groups across the United Kingdom organised fundraising activities, SLJPPOrted by regular giving, appeals and legacy income, helping to sustain the charity s work at a grassroots level. Challenge events, including OLJr flagship mass participation event of the year, the TCS London Marathon, performed strongly during the year. These events combined personal commitment with fLJndraising achievement and helped raise the profile of the charity among wider audiences. Trusts and Foundations Support from trusts and foundations continued lo provide important and reliable income during the year. Grant funding contributed directly to programme delivery and helped underpin the charity s financial sustainability. Pag8 14 RAYS OF SUNSHINE (A company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2025 Achievements and performance Icontinuedl Gifts in Kind Gifts in Kind remained an important feature of fundraising activity during the year, totalling £267k. Donated goods and services supported wish delivery and hospital programmes, reducing direct costs and enhancing the quality of experiences delivered to children and families.. f. Material investment policy and perfomiance The charity holds material financial investments to preserve capital, maintain liquidity, and support future charitable commitments. The Trustees, objective is to safeguard the value of funds while ensuring investments remain readily realisable to meet obligations as they fall due and to support ongoing programme delivery. The investment portfolio is held exclusively in United Kingdom Government Gilts. This reflects a low risk strategy focused on capital preservation and liquidity. The portfolio is held with Dowgate Wealth, which provides advisory and custodial services. Dowgale Wealth does not operate under a discretionary mandate. Investment decisions are made by the Trustees in accordance with the approved investment policy, and performance and portfolio positioning are reviewed regularly through established govemance arrangements. During the year ended 30 June 2025, the porffolio generated investment income of £46k. Net unrealised gains of £151 k were recognised as a result of movements in gilt valuations during the period. At 30 June 2025, the total value of listed investments was £3.138m. This approach ensures that reserves are managed prudently with minimal exposure to higher risk asset classes, while maintaining sufficient IiqLJidity to support the charitys operational requirements and future commitments. Pag8 15 RAYS OF SUNSHINE (A company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2025 Achievements and performance Icontinuedl g. Financial review The charity ended the year in a strong financial position, SLJPPOrted by healthy reserves and sufficient liquidity to meet current and future programme commitments. Total income for the year amounted to £2.552m, generated through donations and legacies, corporate partnerships, special events, gifts in kind, investment income, and other charitable income. Nel gains on the Gilt investments were £151 k. Total expenditure for the period was £2.064m, resulting in a rbet surplus of £641 k. Fundraising performance remained robust across diversified income streams. Flagship activities, including the Twenty-First Anniversary Gala Dinner, participation in ICAP Charity Day, and challenge events such as the TCS London Marathon, made an important contribution to income generation. Further detail on the charity s investment strategy, income and valLJation movements is set out in the Material Investment Policy and Performance section. At 30 June 2025, the charity held total funds of £3.465m, comprising £3.378m unrestricted funds and £87k restricted funds. Cash al bank and in hand totalled £404k, providing short term liquidity, with the balance of reserves invested in UK Govemmenl Gilts providing further liquidity- The Trustees are satisfied that the charitys financial position is appropriate lo support ongoing activities, manage financial risk, and provide stability in the delivery of its programmes. The charity does not operate a defined benefit pension scheme and therefore has no material pension liabilities. The Trustees consider that financial performance during the year was strong and aligned with strategic priorities. Prudent financial management and diversified income streams provide a sound basis for continued delivery in the year ahead. Going concern The Trustees have assessed the charity's ability to continue as a going concern for a period of at least twelve months from the dale of approval of the financial statements. In making this assessment. they have reviewed the charity's financial position al the reporting date, including reserves, cash balances, low risk readily realisable investments. forecast income, planned expenditure, and the wider economic environment. AI 30 June 2025, lolal funds amounted lo £3.47m, including £3.38m of unreslricled funds. Cash balances tolalled £404k. The charity also held £3.138m in UK Govemment Gills, which support liquidity and financial resilience. Income is generated from a diversified range of sources, including corporate partnerships, trusts and foundations, special events and individual giving. Expenditure forecasts and programme commitments have been reviewed alongside known financial risks. The charity has no material debt obligations. Having considered financial projections and risk assessments, the Trustees have not identified any material Un￿rtaIntieS that would cast significant doubl on the charills ability to continue in operational existen￿. The financial stslemenls have therefore been prepared on a going concern basis. Pag8 16 RAYS OF SUNSHINE (A company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2025 b. Reserves policy At 30 June 2025, total fLJnds were £3.47 million, comprising £3.38 million unrestricted funds and £87k restricted funds. Restricted funds relate lo income received for specific purposes and are not available for general activities. The charity operates a full accrLJal policy in respect of approved wishes. All approved and committed wishes are recognised as liabilities within the financial statements. Unrestricted reserves therefore represent funds available to support ongoing activities and future commitments. A significant proportion of unreslricled reserves is held in cash and readily realisable low risk investments, forming part of the chariws IiqLJid resources and supporting financial resilience. The Trustees, policy is to maintain reserves equivalent to between six and Iwelve months of budgeted expenditure. This range is considered appropriate to ensure continuity of programme delivery in the event of an unforeseen reduction in income. The Trustees are currently comfortable holding reserves towards the upper end of this range, reflecting economic uncertainly and the Importan￿ of maintaining stability in service delivery. The reserves policy is reviewed regulady to ensure alignment with financial strategy and risk profile. Pag8 17 RAYS OF SUNSHINE (A company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2025 Principal risks and uncertainties The Trustees maintain a comprehensive risk management framework to identify, assess, and manage the principal risks and uncertainties facing the charity- A detailed risk register is reviewed regulady by the Senior Management Team and the Risk Committee, with oversight and updates reported to the Board of Trustees. The Trustees consider that appropriate systems, controls, and mitigations are in place to support effective delivery and long-term sustainability. Income generation and financial sustainability The charity is reliant on voluntary income from corporate partnerships, trusts and foundations, special events, and Individual supporters. Changes in economic condib"ons, donor behaviour, or the loss of key fundraising activities could impact future income levels. This risk is mitigated through diversification of income streams, strong funder relationships, regular budgeting and reforecasling, and maintaining adequate unreslricled reserves. Demand for services Demand for wishes and hospital based activities continues to be strong. Increased referral volumes may place pressure on delivery capacity. This risk is managed through monitoring demand trends. reviewing operational plans, and ensuring that staffing and volunteer resources are aligned lo maintain the quality and b"meliness of delivery. Operational delivery risks Wish delivery, hospital activities, and events can involve complex logistics and Ihird-paty suppliers. Risks relating to safely, scheduling, and cost are mitigated through safeguarding pr0￿dUreS, health and safety assessments, supplier due diligence, and dear internal approval and escalation processes. Safeguarding and volunteer management The charity Works directly wth seriously ill children and their families and engages volunteers across several activities. Safeguarding and volunteer management, therefore, remain critical risk areas. Mitigation includes robust safeguarding policies, Disclosure and Barring Service checks where appropriate, mandatory training, clear reporting procedures, and ongoing oversight. Infomiation technologyj data protection, and cyber security The charity processes personal and sensitive data relating to beneficiaries, volunteers, staff, and supporters. Risks include cybersecurity incidents, data breaches, and system failures. These risks are mitigated through secure systems. access controls, staff training, regular updates, and compliance with data protection legislation. Ongoing investment in digital systems supports improved data accuracy and security- Reputational risk Public trust and confidence are essential to the charity s work. Any significant operational failure. safeguarding incident, or data breach could result in reputational damage. The charity miligales this risk through strong governance, policy compliance, transparent communication, and prompt escalation and response procedures. Investment and market volatility Investment and market risk is miligaled through a low risk strategy under which the charity holds investments exclusively in United Kingdom Government Gilts and reviews performance regularly through Trustee oversight. Pag8 18 RAYS OF SUNSHINE (A company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2025 External factors affecting programme delivery Pressures within the National Health Service, including staffing constraints and access limitations, may affect the timing or scale of hospital based activities. The charity manages this risk through close working relationships with healthcare partners and flexibility in delivery models. Forward outlook The Trustees recognise that economic uncertainly, cost pressLJres, and rising demand for services will continue to influence the charity s operating environment. Mitigation strategies for the coming year include continued income diverstficalion, prudent financial management, investment in systems and processes, and maintaining SLJfficienl reserves to ensure resilience. d. Risk management objectives and policies Investment risk is managed in accordance with the approach set out in the Material Investment Policy and Performance section, with a focus on capital preservation, liquidity, and regular Trustee review. Principal funding The charity s activities are funded primarily through voluntary income. During the reporting period, the principal sources of funding were corporate partnerships, charitable trusts and foundations. individual giving, community fundraising, special events, and Gifts in Kind. The Trustees consider that this broad mix of funding sources provides resilience and reduces reliance on any single stream. This diversity enables the charity to continue delivering its objectives and responding to demand for its services. Structure* governance and management Constitution Rays of Sunshine Children's Charity is a company limited by guarantee and a registered charity- It is governed by its Memorandum and Articles of Association dated 8 August 2003, as amended by special resolutions dated 4 March 2004, 15 July 2004, 16 May 2011 and 11 February 2025. The charity is registered with the Charity Commission for England and Wales under charity number 1102529. Pag8 19 RAYS OF SUNSHINE (A company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2025 Structure* governance and management (continued) b. Methods of appointment or election of Trustees Trustees are appointed or elected in accordance with the charitys Articles of Association. Trustees may be appointed by ordinary resolution of the members, following a slruclured pr(Icess designed to ensure that the Board comprises individuals with the skills, experience, arbd commitment required lo further the charitys purposes. Trustees are appointed for a term of three years, after which they may be eligible for reappointment, subject lo confirmation by ordinary resolution of the members. Where an appointment is not confirrned al the end of a term, the trustee ceases to hold office in line with the Articles. The Board ensures that the number of Iruslees does not exceed any maximum set out in the governing document. All Iruslees are required to be natural persons aged sixteen years or over and musl not be disqualified from acting as trustees under the Companies Acts or the Charities Act 2011. This approach supports effective governance, appropriate succession planning, and the conlinLJed oversight of the charity's strategic direction and aclivilies. Organisational structure and decision-making policies Rays of Sunshine operates within a clear organisalional framework designed to support effective governance, accountability, and operational delivery. The charity is governed by a Board of Trustees, which is responsible for setting strategic direction, overseeing performance, and ensuring compliance with legal and regulatory requirements. The Board meets regularfy to review strategy. financial performance, risk, and organisalional priorities. Key decisions include approval of budgets, oversight of reserves and investment policy, and monitoring delivery against objectives. To support effective governance, the 8oard has established sub-commillees, induding the Admin and Finance Committee, Investment Committee, Risk Committee and Safeguarding Committee, each operating under agreed terms of reference and reporting lo the Board. Day-to-day management and operational decision-making are delegated lo the Chief Executive Officer, supported by the senior management team. The executive team is responsible for implementing the strategy approved by the Trustees, managing programmes and servI￿s, overseeing staff and volunteers, and ensuring effective Ljse of resources. Clear levels of delegated authority are in place lo support timely decision-making and operational efficiency. Volunteers support delivery across wish granting, hospital activities, community events, and fundraising. Volunteer roles are clearly defined and supported through training, supervision, and safeguarding processes lo ensure effective and safe engagement. This structure ensures a clear separation between governance and management responsibilities, supporting strong oversight by the Trustees while enabling the executive team to deliver the charity s activities efficiently and effectively. Pag8 20 RAYS OF SUNSHINE (A company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2025 Structure* governance and management (continued) d. Policies adopted for the induction and training of Trustees The charity has policies and procedures in place to support the effective induction and ongoing development of Trustees. These are designed to ensure that Trustees understand their legal responsibilities, the chariws activities, and the govemance framework within which they operate. New Trustees receive an induction pack containing key governance and operational documents and are SLJPPOrted through an initial induction process led by the Chair and the Chief Executive Officer. This includes an overview of the charitys strategy, finances, risk framework, and core activities, as well as opportunities lo engage with staff and observe programme delivery where appropriate. Ongoing training and development are encouraged to ensure that Trustees maintain the skills and knowledge required to discharge their duties effectively. This includes access lo external training, briefings on regulatory and governance developments, and periodic Board development sessions. The induction and training approach is reviewed regularly lo ensure it remains appropriate and supports effective governance. Pay policy for key management personnel The remuneration of key management personnel is sel through a structured and transparent process overseen by the Board of Trustees. Pay levels are determined with reference to the responsibilities of each role, the skills, experience, and qualifications required, and the performance of the individual. Salaries are benchmarked against comparable roles within the charity sector and, where appropriate, the wider not-for-profil market, lo ensure they remain reasonable and compelilive. The aim is to attract and retain individuals with the capability to manage the charity effectively, while ensuring that remuneration remains proportionate and consistent with the charills financial position. The Board reviews senior remuneration as part of its oversight of staffing and financial management, taking into account affordability, performance, and the charity s commitment lo prudent use of resources. Details of key management personnel remuneration are disclosed in the financial statements in accordance with accoLJnting and regulatory requirements. f. Related party relationships The Trustees consider related parties to include Trustees, key management personnel, and organisations in which Trustees or senior staff may have an interest. The charity has policies and procedures in place to manage conflicts of interest and related party relationships. Trustees are required to declare any interests annually and to update these declarations as necessary. Where a potential conflict arises, the individual concerned is excluded from any decision-making process relating lo the matter. Any transactions with related parties during the year were conducted on an arm's length basis and in the best interests of the charity. Details of related paty transactions, where applicable, are disclosed in the notes to the financial statements in accordance with accounting and regLJlatory requirements. The Trustees confirm that no other material related party relationships exist that would have a significant influence on the financial or operational position of the charity- Pag8 21 RAYS OF SUNSHINE (A company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2025 Structure* governance and management (continued) g. Risk management The Trustees are responsible for overseeing the charitys approach to risk management and ensuring that appropriate systems and controls are in place to identify, assess, and manage risks that could affect the achievement of the charity s objectives. The charity operates a slruclured risk management framework supported by a comprehensive risk register. The register is reviewed regularly by the Senior Management Team and relevant Trustee committees, with oversight provided by the Board of Trustees. Risks are assessed using a consislenl methodology that considers both likelihood and potential impact on operations, finances, beneficiaries, and reputation. Each identified risk is assigned a clear owner and is supported by agreed controls and mitigation actions. These are monitored throughout the year and strengthened where necessary in response to changes in the internal or extemal operating environment. The risk framework covers key areas including financial sustainability, safeguarding, information governance, operational delivery, legal and regulatory compliance, and investment oversight. Regular reporting ensLJres that emerging risks are identified promptly and that mitigating actions are reviewed and adjusted as required. The Trustees consider that the charitys risk management arrangements are robust, proportionate, and appropriate to the size, complexity, and activities of the organisation. Plans for future periods The Trustees remain commilled lo developing and expanding the charity's activities so that more seriously ill children and their families can benefit from wishes, hospital activities, and community events. Plans for the forthcoming period build on progress made during the year and reflect learning from delivery experience, stakeholder feedback, and changes in the external environment. Key priorities for the next financial year include increasing the number of wishes granted, strengthening the Sunshine in Hospitals programme. and expanding opportunities for families to engage through community events. Demand for the charity s services continues to grow, and resources will be allocated to support timely delivery while maintaining quality, safety, and consistency. The charity will continue to develop partnerships with children's hospitals and hospices across the United Kingdom. This includes extending engagernenl across additional hospital siles and introducing new sensory and play based resources informed by feedback from clinical staff, families, and volunteers. These developments are intended to enhance support for children undergoing treatment and strengthen relationships within healthcare settings. Investment in digital systems will continue. with further development of Salesforce and associated tools lo improve efficiency, data accuracy, and management of wish applications and volunteer information. These improvements will support better oversight, reduce adminislralive burden, and strengthen reporting on delivery and outcomes. Volunteer recruitment and development will remain a focus to ensLJre sufficient capacity to meet rising demand. The charity will continue lo Invest In training, guidance, and support to enable volunteers to contribute effectively across a range of activities. Fundraising plans include strengthening corporate partnerships, developing new relationships with charitable trusts and foundations, and growing income from events and challenge-based activities. Opportunities for Gifts in Kind will continue to be explored as a means of redLJcing delivery costs. Lessons learned in recent years, Pag8 22 RAYS OF SUNSHINE (A company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2025 Plans for future periods Icontinuedl including the importance of diversified income streams and appropriate reserves, will continue to inform financial planning and budgeting. The Trustees consider that the charity is well-positioned for the year ahead. Strong governance, a commilled staff team, engaged volunteers, established partnerships, and a stable financial position provide a sound basis for continued delivery. The Trustees wll continue to ensure that resources are used efficiently and directed towards activities that deliver the greatest benefit for children and families. Statement of Trustees, responsibilities The Trustees {who are also the directors of the Company for the purposes of company lawl are responsible for preparing the Truslees, report and the financial slalements in accordan￿ with applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accounting Praclicel. Company law requires the Trustees to prepare financial statements for each financial . 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 state of affairs of the Company and of its incoming resources and application of resources, induding its irbcome and expenditure, for that period. In preparing these financial statements, the Trustees are required to= selert suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP IFRS 1021., make judgments and accounting estimates that are reasonable and prudent., slate whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material departures disclosed and explained in the financial stalemenls., prepare the financial statements on the going concern basis unless il is inappropriate to presume that the Company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the Companls transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Dlsclosure of Informatlon to audltors Each of the persons who are Trustees at the lime when this Trustees. report is approved has confirmed Ihal.. so far as that Trustee is aware, there is no relevant audit information of which the charitys auditors are unaware, and that Trustee has taken 811 the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit infomation and lo establish that the charills auditors are aware of that information. Pag8 23 RAYS OF SUNSHINE (A company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2025 Auditors The auditors, BKL Audit LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees. Approved by order of the members of the board of Trustees and signed on their behalf by.. Mr Stephen Allan OBE (Trusleel Date.. 0410312026 Pag8 24 RAYS OF SUNSHINE (A company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF RAYS OF SUNSHINE Opinion We have audited the financial stslemenls of Rays of Sunshine Ilhe 'charilable compan￿) for the year ended 30 June 2025 which comprise the Statement of financial aclivilies, the Balan￿ sheet, the Slalement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Stsndards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Praclicel. The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Stsndards applicable in the UK and Republic of Ireland {FRS 102) in preference lo the Accounting and Reporting by Charities= Slalement of Recommended Practice issued on 1 April 2005 which is referred lo in the exlanl regulations but has been withdrawn. This has been done in order for the accounts lo provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. In our opinion the financial stalemenls.. give a true and fair view of the slate of the charitable companls aff8irs as at 30 June 2025 8nd of its incoming resources and application of resources, including ils income and expenditure for the year then ended., have been properfy prepared in accordance with United Kingdom Generally Accepted Accounting Practi￿,. and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in aC￿rdan￿ with Intemalional Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors. responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial slalements in the United Kingdom, including the Financial Reporting Council's Ethi¢al Stsndard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit eviden￿ we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the Trustees. use of the going con￿rn basis of accounting in the preparation of the financial ststements is appropriate. Based on the wort( we have performed, we have not identified any material uncertainties relating lo events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability lo continue as a going con￿rn for a period of al least twelve months from when the financial statements are aulhorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going con￿rn are described in the relevant sections of this report. Pag8 25 RAYS OF SUNSHINE (A company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF RAYS OF SUNSHINE (CONTINUED) Other information The other information comprises the information included in the Annual report other than the financial statements and our Auditors, report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other infomialion and, except to the exlenl otherwise explicitly slated in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is lo read the other information and, in doing so, consider whether the other information is materially inconsislenl with the financial statements or our knowledge obtained in the course of the audit, or olhetwise appears lo be materially misstated. If we identify such material inconsistencies or apparent material misslatemenls, we are required lo determine whether this gives rise lo a material misstslemenl in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstalemenl of this other infomalion, we are required to report that fact. We have nothing lo report in this regard. Matters on whlch we are requlred to report by exceptlon We have nothing lo report in respect of the following mallers where the Charities (Accounts and Reports) Regulations 2008 requires us lo report lo you if, in our opinion.. the information given in the Trustees, report is inconsislenl in any material respect with the financial slalemenls- or sufficient accounting records have not been kept., or the financial statements are not in agreement with the accounting records and returns,. or we have not re￿iVed all the infomiation and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Trustees, responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial slalemenls and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary lo enable the preparation of financial slalemenls that are free from material misslalemenl, whether due to fraud or error. In preparing the financial stslemenls, the Trustees are responsible for assessing the charitsble companls ability to continue as a going cOn￿rn, disclosing, as applicable, matters related lo going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or lo ase operations, or have no realistic alteinalive bul to do so. Pag8 26 RAYS OF SUNSHINE (A company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF RAYS OF SUNSHINE (CONTINUED) Auditors. responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstslement, whether due lo fraud or error, and lo issue an Auditors. report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always delecl a material misslatemenl when it exists. Misstslemenls can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to Influen￿ the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to delecl material misslalements in respect of irregularities, including fraud. The exlenl lo which our procedures are capable of delecling irregularities, including fraud is detailed below.. EnqLJiring of management and those eharged with governance around actual and potential litigation and claim., Reviewing board meeting minutes of meetings of those charged with governance., Reviewing financial statement disclosures and testing lo supporting documentation to assess compliance with applicable laws and ￿gulations., Perfomiing audit work over the risk of management override of controls, including lesling of journal entries outside the normal course of business and reviewing accounting estimates for bias. Because of the inherent limitations of an audit, there is a risk that we will not delect all irregularities, including those leading to a material misstalemenl in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial slalements, as we will be less likely lo become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentslion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. www.frc.or .uklauditorsres onsibililies. This description forms part of our Auditors. report. Pag8 27 RAYS OF SUNSHINE (A company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF RAYS OF SUNSHINE (CONTINUED) Use of our report This report is made solely to the charitable companys trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate to the charitable company's trustees those matlers we are required to stale to them in an Auditors. report and for no other purpose. To the fullest exlenl permitted by law, we do not accept or assume responsibility lo anyone other than the charitable company and ils members, as a body, for our audit work, for this report, or for the opinions we have formed. KEL Amdit LLP BKL Audit LLP Chartered Accountants Slatulory Auditor 35 Ballards Lane London N3 1XW Date.. 0410312026 BKL Audit LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006. Pag8 28 RAYS OF SUNSHINE (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNT} FOR THE YEAR ENDED 30 JUNE 2025 Unrestricted funds 2025 Restricted funds 2025 Total funds 2025 Total funds 2024 Note Income from- Donations and legacies Gifts in Kind 2.164,185 266,850 46,070 75,850 2.240,035 266,850 46.070 1,231,506 821,962 15.678 Investments Totsl income 2.477,105 75,850 2.552,955 2,069, 146 Expenditure on: Raising funds Charitable activities 528.650 1.450,418 528,650 1,535,104 688,498 2,772.467 84,686 Totsl expenditure 1.979,068 84,686 2.063,754 3,460,965 Net incomellexpenditurel before net gains on investments Net gains on investments 498,037 151,453 {8,836} 489,201 151,453 (1,391,819) 798,440 Net movement In funds 649.490 (8.836} 640.654 {1, 793,379) Reconciliation of funds: Total funds brought forward Net movement in funds 2.729,269 649,490 95,485 {8,836} 2.824.754 640,654 4,018,133 (1, 793,379) Total funds carrled forward 3.378.759 86,649 3.465,408 2,824, 754 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 33 to 52 form part of these financial statements. Pag8 29 RAYS OF SUNSHINE IA company limited by guarantee) REGISTERED NUMBER: 04860607 BALANCE SHEET AS AT 30 JUNE 2025 2025 2024 Note Fixed assets Tangible assets Investments 12 9,260 3.138,015 14,930 3,065,675 13 3.147,275 3,080,605 Current assets Debtors Cash at bank and in hand 14 295,901 403,721 165, 148 132,003 699,622 297, 151 Currgnt liabilitigs Creditors.. amounts falling due within one year 15 1381,4891 (553,002) Net current (liabilities) l assets 318,133 (255,851) Total net assats 3,465,408 2,824, 754 Charity funds Restricted funds 16 86,649 3,378,759 95,485 2, 729,269 Unrestricted funds 16 Total funds 3.465,408 2,824, 754 Pag8 30 RAYS OF SUNSHINE IA company limited by guarantee) REGISTERED NUMBER: 04860607 BALANCE SHEET ICONTINUEDI AS AT 30 JUNE 2025 The entity was entitled lo exemption from audit under section 477 of the Companies Act 2006. The members have not required the entity lo obtain an audit for the year in question in accordance with section 476 ofthe Companies Act 2006. However, an audit is required in accordance with section 144 of the Charities Act 2011. The Trustees acknowledge their responsibili118s for complying with the requirements of the Act with r8SP8cI to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject lo the small companies regime. The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by- Mr Stephen Allan OBE (Trusleel Date.. 0410312026 The notes on pages 33 10 52 form part of these financial stalemenls. Pag8 31 RAYS OF SUNSHINE (A company limited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2025 2025 2024 Cash flows from operating activities Net cash generatedl{usedl in operating activities 81.938 (1,406,967) Cash flows from Investlng actlvltles Investment income Purchase of tsngible fixed assets Purchase of investments Sale of investments 46.070 13.6541 15,917,155) 6,064,519 15,678 110,078) 1,084, 742 Net cash provided by investing activities 189.780 1,090,342 Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 271.718 {316.625) 448,628 132,003 Cash and cash equivalents at the ond of the year 403,721 132,003 The notes on pages 33 10 52 form part of these financial statements Pag8 32 RAYS OF SUNSHINE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 General infomiation Rays of Sunshine is incorporated as a charitable company limited by guarantee (charity number 1102529, company number 048606071. It is governed by its Memorandum and Articles of Association, as amended by a special and a written resolution dated 16 May 2011. Accounting policies 2.1 Basis of preparation of financial statemgnts The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Ststemenl of Recommended Practice applicable lo charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Rays of Sunshine meets the definition of a public benefit enlily under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless olhenNise staled in the relevant accounting policy. 2.2 Going concern The Trustees have considered a period of one year from the date of approval of the accounts. The charity generated a surplus of £640,654 in unrestricted funds during the year and at the year end the charity had nel current assets of £318,133. At 30 June 2025 total unreslricled funds amounted lo £3,378,759. The Iruslees have considered expected future cashflows, and al the lime of approving the financial statements the trustees have a reasonable expectation that the charity has adequate resources lo continue in operational existen￿ for the foreseeable fLJture. Thus the Trustees onlinue lo adopt the going concern basis of accounting in preparing the financial statements. 2.3 Income All income is recognised once the Charity has entitlement to the income, it is probable that the income will be re￿iVed and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability lo estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has SLJfficienl eviden￿ that a gift has been left lo them IthroLJgh knowledge of the existence of a valid will and the death of the benefaclorl and the executor is satisfied that the propety in question will not be required to satisfy Claims in the estate. Receipt of a legacy musl be recognised when il is probable that it will be re￿iVed and the fair value of the amount receivable, which will generally be the expected cash amount lo be distributed to the Charity, can be reliably measured. Grants are induded in the Statement of financial activities on a receivable basis. The balance of income re￿iVed for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advan￿ of enlidement of reTripl, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Donations, including gift aid, are recognised when the charity has confirmation of both the amount and selllemenl dale. In the event of donations pledged bul not received, the amount is accrued for where the re￿Ipt is considered probable. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and Pag8 33 RAYS OF SUNSHINE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 Accounting policies (continued) 2.3 Income (continued) not recognised until either those conditions are fully mel, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period. Donations in kind, including services and facilities donated (for free or discounted) lo th8 charity for ils own use are included as income al their value to the charity as at the time of the gift with an equivalent amount included in expenditure. Where goods or services are provided lo the charity as a donation that would normally be purchased from suppliers, this contribution is included in the financial statements as both income and expenditure al ils eslimaled fair value based on the value of the contribution lo the charity. Many items donated to the charity include a 'money-can't-buy element, such as the time provided by celebrities to meet the children and allend charity events, and therefore no commercial value has been placed on these gifts in kind in the financial stalemenls. 2.4 Expenditure Expenditure is recognised once there is a legal or conslruclive obligation lo transfer economic benefit to a third party, il is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by aclivily. The costs of each activity are made up of the lotsl of direct costs and shared costs, including support costs involved in undertaking each aclivily. Direct costs attributable lo a single activity are allocated directly lo that activity. Shared costs which contribute to more than one activity and support costs which are not attributable lo a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on th8 basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on raising funds includes all expenditure incurred by the Company to raise funds for ils charitable purposes and includes costs of all fundraising activities events and non-charitable trading. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Companls objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 2.5 Tangible fixed assets and depreciation Tangible fixed assets costing £500 or more 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 al cost. After recognition, under the cost model, tangible fixed assets are measured al cost less accumulated depreciation and any accumulated impairment losses. All costs incurred lo bring a tangible fixed asset into ils intended working condition should be included in the measurement of cost. Pag8 34 RAYS OF SUNSHINE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 Accounting policies (continued) 2.5 Tangible fixed assets and depreciation Icontinued) Depreciation is charged so as lo allocate the cost of tangible fixed assets less their residual value over their eslimaled useful lives using the straighl-line method. Depreciation is provided on the following basis.. Fixtures and fittings Office equipment 33￿/0 Slraighl line 330/0 Slraighl line 2.6 Investments Fixed asset investments are a form of financial instrument and are initially recognised al their transaction cost and subsequently measured al fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured al cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'GainsllLossesl on investments, in the Stslement of financial activities. Investments in subsidiaries are valued al cost less provision for impaimient. Investments held as fixed assets are shown at cost less provision for impairment. 2.7 Debtors Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid nel of any trade discounts due. 2.8 Cash at bank and in hand Cash al bank and in hand includes cash and short-lerm highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.9 Llabllltles and provlslons Liabilities are recognised when there is an obligation at the Balance sheet dale as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the selllemenl can be estimated reliably. Liabilities are recognised al the amount that the Company anlicipales il will pay lo settle the debt or the amount il has re￿iVed as adVan￿d payments for the goods or servi￿$ it musl provide. Provisions are measured al the best estimate of the amounts required to sellle the obligation. Where the effect of the lime value of money is material, the provision is based on the present value of those amounts. discounted at the pre-tsx discount rale that reflects the risks specific lo the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finan￿ cost. Pag8 35 RAYS OF SUNSHINE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 Accounting policies (continued) 2.10 Allocation of support and governance costs Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the charity, il is necessary to provide support in the form of support staff. Within support costs are also governance costs, which include the costs of slatulory compliance and other costs related lo the govemance of th8 charity. Support and governance costs are allocated lo activities based on staff lime spent on those aclivilies. In the process of calculating support costs, Offi￿ expenses and depreciation costs are allocated as follows.. 23010 to raising funds, 58Q/o to charitsble activities and 19QA lo support costs. Communications costs are allocated as follows.. 209/0 to raising funds. 60QA to charitsble activities and 20Qh to support costs. Finally, all support and govemance costs were allocated in th8 following proportions: 70Vo lo charitsble activities and 30Qh to raising funds. The same rations have been used to restate the 202312024 figures. 2.11 Flnanclal Instruments The Company only has financial assets and financial liabilities of a kind that qualify as basic financial inslrumenls. Basic financial instruments are inits'ally recognised at transaction value and subsequently measured al their selllemenl value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.12 Fund accounting General funds are unreslricled funds which are available for use al the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been sel aside by th8 Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial slalements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each reslricled fund is sel out in the notes to the financial stalemenls. Investment income, gains and losses are allocated to the appropriate fund. Pag8 36 RAYS OF SUNSHINE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 Income from donations and legacies Unrestricted Restricted funds funds 2025 2025 Total funds 2025 Donations Legacies Philanthrophy & Special Events 1.376,723 98,810 688,652 75,850 1,452.573 98.810 688,652 2,164,185 75,850 2,240.035 Unrestricted funds 2924 Restricted funds 2024 Total funds 2024 Donations Legacies Philanlhrophy & Special Events 1,000,284 2,000 161,487 67,735 1,068,019 2,000 161,487 1, 763, T71 67,735 1,231,506 Philanlhrophy & Special Events income has been reclassified to income from donations and legacies from other income lo better reflect the substance of the transactions. Pag8 37 RAYS OF SUNSHINE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 Gifts in kind Unrestrlcted funds 2025 Total funds 2025 Wishes Other services 131,953 108,239 13,910 5,223 7,525 131.953 108,239 13.910 5.223 7.525 Fundraising costs IT Setwices Other support costs 266,850 266.850 Unreslriclgd funds 2024 Total funds 2024 Wishes Other services 545,895 52,138 208,294 3,424 6.000 6,211 545,895 52, 738 208,294 3,424 6,000 6,217 Fundraising costs IT services Office costs Other support costs 82f,962 821,962 The charity re￿iVed gifts in kind valued at £266,85012024= £821,962) during the period. In addition, a significant number of gifts were received for which il is difficult to attribute a value. For example, the lime provided by celebrities to meet children and attend charity events. It has not been possible lo attribute a value to such gifts in these financial statements. Pag8 38 RAYS OF SUNSHINE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 Investment income Unrestricted funds 2025 Total funds 2025 Investment income 46,070 46.070 Unreslricled funds 2024 Total funds 2024 Investment income 15,678 15,678 Pag8 39 RAYS OF SUNSHINE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 Expenditure on raising funds Fundraising trading expenses Unrestrlcted funds 2025 Total funds 2025 Depreciation Philanthropy and special events Communications 2,145 160,725 19,902 57,900 78,504 200,519 8,955 2,145 160.725 19.902 57.900 78,504 200.519 8.955 Other fundraising costs Office expenses Staff costs Governance cost allocation 528,650 528,650 Unreslricled funds 2024 Total funds 2024 Depreciation Philanthropy and special events Communications 3,333 235. 143 12, 140 100,593 70,449 254,647 12, 193 3,333 235, 143 72,740 100,593 70,449 254,647 12,793 Other fundraising costs Office expenses Staff costs Governance cost allocation 688,498 688,498 Pag8 40 RAYS OF SUNSHINE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 Analysis of expenditure on charitable activities Summary by fund type Unrestrlcted Restrlcted funds funds 2025 2025 Total 2025 Granting wishes 1,450,418 84,686 1,535.104 un￿StrICted funds 2Q24 Reslricled funds 2024 Total 2024 Granting wishes 2, 723,234 49,233 2,772,467 Analysis of expenditure by activities Activities undertaken directly 2025 Support costs 2025 Total funds 2025 Granting wishes 1,219,721 315,383 1,535.104 Activities undertaken directly 2024 Support costs 2024 Total funds 2024 Granting wishes 2,308,242 464,225 2,T72,467 Pag841 RAYS OF SUNSHINE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 Analysis of expenditure by activities (continued) Analysis of direct costs Grantlng wishes 2025 Total funds 2025 Staff costs Depreciation Wishes Office expenses Communications Other services 473.541 5,407 321.990 197,967 9.460 211,356 473,541 5,407 321,990 197.967 9,460 211,356 1,219,721 1.219.721 Granting wishes Total funds 2024 2024 Staff costs Depreciation Wishes Office expenses Communications Other Seryices 610,173 8,405 7.290,695 177,653 T,130 274, 186 610,173 8,405 1,290,695 177.653 7,130 214,186 2,308,242 2,308,242 Pag8 42 RAYS OF SUNSHINE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 Analysis of expenditure by activities (continued) Analysis of support costs Grantlng wishes 2025 Total funds 2025 Staff costs Depreciation offi￿ expenses Communications Write off Governance costs 204.711 1,772 64.851 3,153 20,000 20,896 204,711 1,772 64,851 3.153 20,000 20,896 315,383 315.383 Granting wishes Total funds 2024 2024 Staff costs Depreciation Office expenses Communications 372,444 2, 755 58,197 2,378 28,451 372,444 2, 755 58,197 2,378 28,451 Governan￿ costs 464,225 464,225 Auditors. rgmuneration 2025 2024 Fees payable to the Charity's auditor for the preparation and audit of the Charity's annual accounts 16,000 13,000 Pag8 43 RAYS OF SUNSHINE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 10. Staff costs 2025 2024 Wages and salaries Social security costs Contribution to defined contribution pension schemes 760.954 90,290 27,527 1,083, 152 116,026 38,087 878,771 1,231,265 The average number of persons employed by the Company during the year was as follows.. 2025 No. 2024 No. l employees 16 26 The number of employees whose employee benefits (excluding employer pension costs} exceeded £60,000 was.. 2025 2024 In the band £60,001- £70,000 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 Communications Director. the Head of Operations, and the Head of Wishes. The total employee benefits, including social security costs and employer pension contributions of the key management personnel of the charity were £293,45412024.. £303,000). 11. Trustees. remuneration and expenses During the year ended 30 June 2025, no Trustees received any remuneration or other benefits (2024- £NILJ. During the year ended 30 June 2025, no Trustee expenses have been incurred (2024- £NIL). Pag8 44 RAYS OF SUNSHINE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 12. Tangible fixed assets Fixtures and fittings Office equipment Total Cost or valuatlon Al 1 July 2024 Additions 53,062 95,452 3.654 148,514 3.654 AI 30 June 2025 53.062 99.106 152.168 Depreclatlon Al 1 July 2024 Charge for the year 53.062 80,522 9,324 133,584 9,324 AI 30 June 2025 53.062 89.846 142.908 Net book value AI 30 June 2025 9,260 9,260 At 30 June 2024 14,930 14,930 Pag8 45 RAYS OF SUNSHINE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 13. Fixed asset investments Investments subsidiary Listed companies investments Total Cost or valuatlon Al 1 July 2024 Additions Disposals Revaluations 3,065,674 3,065,675 5,917,155 5.917,155 {6.064,5191 {6.064,5191 219,704 219,704 AI 30 June 2025 3,138,014 3,138,015 Net book valug AI 30 June 2025 3,138,014 3,138,015 At 30 June 2024 3,065,674 3,065,675 Principal subsidiaries The following was a subsidiary undertaking of the Company. It is a dormant entity.. Name Company number Registered office or prlnclpal place of business Rays of Sunshine Promotions Limited 07975115 304 Regents Park Road, London, England, N3 2JY Pag8 46 RAYS OF SUNSHINE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 14. Debtors 2025 2024 Due within one year Trade debtors Other debtors Prepayments and accrued income 32,404 22,328 241,169 41,194 22,328 101,626 295,901 165, 748 15. Credltors: Amounts falllng due wlthln one year 2025 2024 Trade creditors Other taxation and social security Other creditors Accruals and deferred income 49,952 27,674 21,607 282,256 50,089 21,464 36, 136 445,313 381.489 553,002 AI 30 June 2025, included within accruals and deferred income are committed wishes lotalling £257,900 12024.. £423,750). Pag8 47 RAYS OF SUNSHINE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 16. Statement of funds Statement of funds - current year Balance at 30 June 2025 Balance at 1 July 2024 Transfers Inlout Galnsl {Lossesl Income Expendlture Unrestricted funds Designated funds General funds 257,900 257,900 General funds General Funds 2,729.269 2,477.105 {1.979,0681 1257,9001 151.453 3,120.859 Total Unrestrictgd funds 2,729.269 2,477,105 {1,979,0681 151.453 3,378,759 Restricted funds Specific wishes Other services 23.012 72.473 57.500 18,350 {20,8551 {63,8311 59.657 26.992 95.485 75.850 184,6861 86.649 Total of funds 2,824.754 2,552.955 {2.063,7541 151.453 3.465.408 Designated funds comprise- Wish costs Monies designated for the costs approved and committed to be spent on wishes. Restricted funds comprise: Specific wishes Funds restricted to the delivery of individual approved wishes for children Other services Funds restricted to wider service delivery aclivtty, including hospital and support services. Pag8 48 RAYS OF SUNSHINE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 16. Statement of funds (continued) Statement of funds - prior year Balance al 30 June 2024 Balance al 1 July 2023 Gainsl (Losses) Income Expgnditure Unrestricted funds General Funds - all funds 3,941.150 2,OQ1,411 (3,411,732) 198,440 2,729.269 Restricted funds Specific wishes Other setvices 23,012 54.023 23,012 72.473 67, 735 (49,285) 77,035 67,735 (49,285) 95,485 Total of funds 4,018,185 2,069, 146 (3,461,017) 198,440 2,824, 754 Pag8 49 RAYS OF SUNSHINE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 17. Analysis of net assets between funds Analysis of net assets between funds - current year Unrestrlcted Restrlcted funds funds 2025 2025 Total funds 2025 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 9,260 3,138,015 612,973 1381,4891 9.260 3,138.015 699,622 {381,489) 86,649 Total 3,378,759 86,649 3,465.408 Analysis of ngt assgts botwean funds - prior year Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Tangible fixed assets Fixed asset investmonls Current assets Creditors due within one year 14,930 3,065,675 201,666 (553,002) 14,930 3,065,675 297,151 (553,002) 95,485 Total 2, 729,269 95,485 2,824, 754 Pag8 50 RAYS OF SUNSHINE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 18. Reconciliation of net movement in funds to net cash flow from operating activities 2025 2024 Net incomelexpenditure for the year las per Statement of Financial Activities) 640,654 (1, 193,379) Adjustments for: Depreciation charges (Gainslllosses on investments Dividends. interests and rents from investments Ilncreaselldecrease in debtors Increaselldecrease) in creditors 9,324 1219,7041 (46,0701 1130.7531 1171.5131 14,493 (198,439) (f 5,618) 97,956 (73,801) Net cash provlded byllused In} operatlng actlvltles 81,938 (1,368,848) 19. Analysis of cash and cash equivalents 2025 2024 Cash in hand 403,721 132,003 Total cash and cash equivalents 403,721 132,003 20. Analysis of changes in net debt At 1 July 2024 Cash flows At 30 June 2025 Cash at bank and in hand 132,003 271,718 403,721 132,003 271.718 403.721 Pag8 51 RAYS OF SUNSHINE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 21. Operating lease commitments AI 30 June 2025 the Company had commitments lo make future minimum lease payments under non- cancellable operating leases as follows.. 2025 2024 Not later than 1 year Later than 1 year and not later than 5 years 108,932 218,811 IOT, 7 [2 330,447 327,743 437,619 22. Related party transactions The Charity received donations and gifts-in-kind from various organisations in which some of the charitys Trustees have an interest. Capital Group Annual donation of £NIL 12024.. £12,000) made by the Foundation where Rays of Sunshine has been nominated by Caroline Randall wife of Trustee Justin Randall. Purple Surgical Purple Surgical, whose director Robert Sharpe is husband of Trustee Jane Sharpe, donated £51,000 12024.. £Nill towards the Annual Patronage and the Gala Auction. Justco Management Limitad Justco Management Limited, in which Trustee Justin Randall is a director, donated £NIL towards Go Day12024.. £1,500) and £NIL12024.. £100} towards R Walters. Michael Elliot Michael Elliot, in which Trustee Mark Shipman is a director, paid £1,000 12024.'NIL) towards the Gala brochure. Other donations from trustoas Justin Randall donated £7,00012024.. £5,000) towards the Annual Patronage and the Golf day. Stephen Allan donated a total of £37,316 12024.. £11,500) towards the Annual Patronage renewals, the Golf Day and the Gala Auction. Mark Shipman donated £7,99512024.. £NILI towards the Annual Patronage. Pag8 52