REGISTERED COMPANY NUMBER: 034875771England and Wales) REGISTERED CHARITY NUMBER: 1105370 Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2024 for Edward's Trust Ltd Locke Williams Associates LLP Chartered Accountants Studio 2 50-54 St Pauls Square Birmingham West Midlands B3 1QS
Edward's Trust Ltd Contents of the Financial Statements for the Year Ended 31 December 2024 Page Reference and Administrative Details Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Balance Sheet 10 to 11 Cash Flow Statement 12 Notes to the Financial Statements 13 to 24
Edward's Trust Ltd Reference and Administrative Details for the Year Ended 31 December 2024 TRUSTEES Peter Barrett (Company Secretary} Christine Bodkin (Chair) Peter Dent (Vice Chairl Aine Gallagher Chris Hurley CHIEF EXECUTIVE OFFICER Clare Martin REGISTERED OFFICE 37 Calthorpe Road Edgbaston Birmingham B15 1TS REGISTERED COMPANY NUMBER 03487577 (England and Wales) REGISTERED CHARITY NUMBER 1105370 INDEPENDENT EXAMINER Locke Williams Associates LLP Chartered Accountants Studio 2 50-54 St Pauls Square Birmingham West Midlands B3 1QS BANKERS Lloyds Bank PIC Caxton Gate 3 Corporation Street Birmingham B2 4LP Page 1
Edward's Trust Ltd Report of the Trustees for the Year Ended 31 December 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Objectives and activities The aims of Edward's Trust are: To provide support to parents bereaved, or about to be bereaved, of their son or daughter, whatever age of their child or cause of death. To provide support to anyone affected by the death of a child aged eighteen years or under. To provide support to children and young people up to the age of 24 who are bereaved, or are about to be bereaved, of a parent, significant carer, sibling or friend. To provide a 'Well Being in Bereavemeny, service including complementary therapies and respite bereavement care for bereaved parents and carers. To provide training and consultation for professionals working with bereaved families or families who are about to be bereaved. Main Trust Activities and Charity Commission Guidance Edward's Trust is a specialist holistic bereavement charity based in Birmingham. dedicated to providing vitsl support to families across the West Midlands. We understand that grief is a deeply personal journey, and we tailor our seNices to meetthe unique needs of each individual we support. Each year, we provide bereavement support to over 700 individuals. In 2024 we directly supported 778 over the course of the year. In doing so the 'ripple effect, of this support meant we reached over 3,000 family members. During 2024 our Service Delivery Team delivered 4827 appointments to bereaved parents, children and young people. Our services include one-to-one counselling, wellbeing therapies and support groups, ensuring that bereaved parents, children and young people have the compassionate care they need. We believe in a holistic approach to bereavement care, addressing not only the emotional impact of loss but also the physical and mental wellbeing of those who are grieving. We have a dedicated team of counsellors, therapists and support staff who offer a safe space where families can navigate their grief, build their resilience and find hope in the future. By offering a holistic bereavement service we seek to rebuild lives by addressing all aspects of grief emotional, physical, physiological, and psychological. Our Counsellors and Therapist are all qualified and BACPIBAPT registered or registered by the appropriate professional body. We have referred to the Charity Commission guidance on public benefft and the Trustees continue to review how developments contribute to the aims and objectives of the charity. Volunteer Involvement In addition to our paid staff, Edward's Trust also has over 40 Volunteers, many who have lived experience, who are members of our Friends of Edward's Trust (FOET) who support the work of the charity in a variety of ways. This dedicated group of volunteers meet regulady to support Edward's Trust through hands on volunteering, fundraising and advocacy. FOET was founded in 2014 and has grown from just five members to over 40 active volunteers today. Some members have received support from Edward's Trust themselves, and others have been inspired by our work. Together they want to make a differen. We greatly appreciate the invaluable support of our Volunteers. Ambassadors and Patrons who organise and help with events, support our Fundraising Team, and actively engage in promoting Edward's Trust and the work we do. Page 2
Edward's Trust Ltd Report of the Trustees for the Year Ended 31 December 2024 ACHIEVEMENT AND PERFORMANCE Achievements and Performance in 2024 Move of premises In 2024 the Trustees had several significant tasks to focus on and achieve during the year. A move of premises had been part of the Board discussions during 2022123 with plans to relocate the early part of 2024. During 2023 all aspects of moving premises were addressed by the Board of Trustees including the funding and financing of this. A suitable property was found during 2023. and a refurbishment of the premises took place. The move took place in January 2024, and we have settled into the premises appreciating the opportunity we now have to expand and develop our work with bereaved families. We have rooms that are dedicated to our work with bereaved parents, children and young people. In addition, having a larger room has given us the opportunity to develop group work, volunteer and fundraising activities as well as training and general meetings. The Trustees produced an updated organisational Strategic Plan for 2024-2027. The Board are monitoring this closely to ensure we remain focussed on the plan whilst recognising that the challenges of raising the necessary funds may require some modifications and temporary changeslpauses to our strategic goals. Adult support In 2024 we provided support to 266 adults through our Counselling and Wellbeing in Bereavement services and through group work. Our mission is to provide a compassionate and supportive environment where bereaved parents can find comfort and understanding. The death of a child brings with it a grief that is traumatic, complex and long lasting. The grief experienced by bereaved parents is profound and debilitating and it impacts on every aspect of their daily lives. All aspects of their emotional and physical health are compromised, and our holistic bereavement support is essential as it addresses their profound and unique grief. Research has shown that for bereaved parents it can take up to 8 years before they begin to cope with the death of their child. We also know that unresolved grief can have a negative impact on physical and mental health. Our role is to support parents in rebuilding their lives and having hope for the future. Our services are designed to support bereaved parents in different way5. Counselling is offered to help bereaved parents begin to process their grief and share their feelings. thoughts and reactions. Our Wellbeing in Bereavement therapies provide a space for relaxation and self-care and our Support Groups offer the opportunity to connect with other bereaved parents. Children and Young People We supported 512 children and young people in 2024 through counselling, therapeutic play, creative expression of grief work and support groups. Our services are tailored to meet the unique needs of children from the age of 4yrs who have experienced the death of a parent, sibling or another close family member. Whether it is through therapeutic play, quiet conversations or simply holding space for their feelings, we are here to help bereaved children to feel seen and supported. We know that grief is experienced in different ways for every child and our aim is to provide support in a way that feels natural and comforting. Through therapeutic play and creative expressions of grief sessions bereaved children can express their feelings in a safe and nurturing environment. These sessions are designed to gently help bereaved children process their emotions. even when words may be hard to find. For young people our services include individual counselling. wellbeing (16+) and youth support groups. Counselling offers bereaved young people a confidential space to talk about their feelings with an experienced counsellor and our support groups provide a connection with others who have similar eXperienS, giving a sense of community and shared understanding. Due to the traumatic nature of the bereavements experienced by the children and young people we support it is essential they receive the best possible professional care. We have a well-developed and evidenced approach to assessment and Servi provision to support children and young people as they face life without a parent, significant carer, grandparent. sibling or friend. Page 3
Edward's Trust Ltd Report of the Trustees for the Year Ended 31 December 2024 Research shows that bereaved children and young people have poor outcomes if they are not supported appropriately. Bereavement at an eady age can have a devastating impact on children which can last into their adulthood. The impact can include low self*steem. sadness, anger, guilt and mental health problems. In order to prevent long term problems early intervention is vital. We provide bespoke bereavement care and monitor progress and outcomes with the bereaved children and young people we support. Providing the right support in a timely way for bereaved children and young people means positive life outcomes can be achieved. Our Services At the core of our work is our counselling service. This service enables the bereaved people we support to talk openly about their grief. In 2024 we continued to see an increase in requestslenquires for support immediately following a death. This has increased the number of bereaved people we offer an Early Advice and Support Service to. Some ofthe concems presented are often around how to tell a child about the death of a loved one. We are also able to signpost to other organisations if the persons situation does not meet our criteria or if there are other urgent issues not directly related to the bereavement. Through grant funding we were able to provide a specialist therapeutic playlcreative expression service which focuses on the grief of young children. Often young children are not able to express their feelings through words alone and this specialist work helps children understand and express the various feelings and reactions they have as a direct result of their bereavement. Many of the parents we see are grieving themselves as well as supporting their children. One of our projects is Parents Supporting Grieving Children (PSGC). Parents often need reassurance that their child is displaying the usual and common signs of grief. Parents will often have a lot of practical concems and pressures that come as a direct result of their bereavement. Our approach of offering individual support to the parent and the child(ren) at the same time has proven to be very positively received and responded to. It often gives children an increased sense of security knowing their parent is also being supported. Outreach Services We understand the importance ofaccessible bereavement support and part ofour Strategic Plan is to continue to provide this in our existing venues and to also develop this service. Our outreach support in the Black Country ensures that families in Dudley, Wolverhampton and Sandwell can re1ve specialist care without the need to travel long diStanS. We also offer outreach support to families in Erdington. By offering community- based locations we redu travel time. making it easier for individuals to access the help they need. Our outreach support provides advice, information, training and specialist counselling for bereaved parents, children and young people. Vvhilst our main site in Edgbaston offers a broader range of services, our Black Country and Erdington outreach locations bring expert bereavement counselling and emotional support closer to home. Our holistic approach to bereavement care continues to include a Wellbeing Service led by a qualified and experienced Wellbeing Therapist. This service supports bereaved adults with all aspects of their grief - physical as well as emotional. Grief can cause very significant physical problems and wellbeing therapies, such as aromatherapy massage, mindfulness and relaxation can help address these. The relaxing and restorative therapies also include teaching self-help strategies to reduce stress. In 2024 we continued to provide some additions to the existing service including Wellbeing Days and Yoga groups. Support Groups With our move of premises has come the opportunity to continue to provide support groups and to extend and develop this part of our bereavement servIs. Grief can feel very isolating, and our support groups offer a safe space to connect with others who have experienced similar bereavements. Support groups are often a very helpful step further along in the grief journey and can offer reassurance. perspective and a sense of community. These groups have been very well received by the bereaved adults, children and young people we support. Whilst the experience and expression of grief is very individual being with people in a similar situation can be very helpful. Page 4
Edward's Trust Ltd Report of the Trustees for the Year Ended 31 December 2024 Remembrance Time Our annual Remembrance Time offers bereaved parents and their relatives a chance to remember their loved one at Christmas- one ofthe most difficult times of yearforthem. This service-which has taken place annually for 32 years- was attended by 260 people in 2024. We have a digital space where families can create tribute pages and share memories of their loved one. Edward's Trust also has a Tree of Remembrance at the National Memorial Arboretum which provides a very special place of reflection. Fundraising activities A key strength for Edward's Trust is our diverse funding base. However, 2024 has been a very challenging year with regard to raising funds and our Fundraising Team have worked hard to increase our donor base. Sponsored Events and Challenges have proved to be popular and have extended our reach and profile. We were particularly delighted to be able to hold a very special Challenge to mark our 35th anniversary year Skydive for 35. This event saw 35 of our supporters, each representing a year of the charity's history, do a skydive. Comprising of both long-term Edward's Trust supporters as well as some new faces- the oldest being 76years and the youngestjust 18years- this brave group of 35 participants raised an amazing total of £29,926 The cost-of-living crisis has impacted on individual donations although we continue to have strong support in a variety of ways from private individuals. We are very grateful to Charitable Trusts for the grants we have reiVed which directly help to fund our service delivery. We are very mindful of the need to seek new income streams as well as strengthening our existing ones to ensure we are able to continue to provide vital support services to bereaved parents, children and young people. Fundraising Standards Infomiation We have a dedicated but small fundraising team whose work is reviewed regularly and reflects the good will we have developed. We have six main sources of donations.. Charitable Trusts and Foundations Corporate sponsors Regular givers Volunteers who fundraise on our behalf Private individuals Legacy donors Grant applications from Charitable Trusts are made throughout the year. Many of the Charitable Trusts are regular supporters and we are very grateful for their continued help. We seek new grant opportunities and apply if we are eligible. We have a number of corporate donors. As well as financial support, they also give 'in kind, support and sponsorship. We have over 80 regular donors who give via a standing order or direct debit. Large or small donations given regularly add a level of stability to our income base. We keep regular donors informed of our activities at regular points throughout the year and through our Kite magazine. We currently have 40 volunteers, many of whom have been supported by Edward's Trust through their own bereavement. Many of these volunteers belong to our FOET (Friends of Edward's Trust} group and carry out various fundraising activities on our behalf. We are very grateful to them for the support they give. We have been fully compliant with the Fundraising Regulatorfs code of practice throughout 2024. We received no complaints regarding our fundraising activities this year. We ensure that these activities are sensitive and reasonable and do not contact our donors or potential donors to ask for money directly. Instead, we promote new sponsorship opportunities through general campaigns, not targeted at individuals. Throughout the year we have been reviewing our fundraising activities to ensure we are GDPR compliant. Public Benefit Statement Our main activities and who we try to help are described throughout the Chairfs report. All of these are undertaken to further our charitable purposes for the public benefit. The trustees are of the opinion that throughout the year, Edward's Trust complied with the duty in Section 4 of the Charities Act 2011 to have due regard to public benefit guidan published by the Charity Commission. Page 5
Edward's Trust Ltd Report of the Trustees for the Year Ended 31 December 2024 FINANCIAL REVIEW Financial position The charity had total income of £483,934 for the year, of which £185,313 was given for restricted purposes. Totsl expenditure for the yearwas £654,561, which resutted in an overall deficit for the year of £170,627. Investment Powers The Memorandum of Articles authorise trustees to make and hold investments using the general funds of the Company. Reserves policy The charity's free reserves are its general unrestricted funds (excluding any element represented by fixed assets) less any funds which have been designated for specific future projects by the trustees. Details of designated funds are given in the financial statements. Edward's Trust resetves policy is to aim to hold a minimum level of free reserves equivalent to approximately nine months expenditure, in order to ensure that any delay in the receipt of income by the charity, caused by the actions of a third paty, does not affect the ability of the charity to meet its obligations to its beneficiaries. The policy of Edward's Trust is to continue to seek funding both to support existing commitments and to develop its services. The Trust's focus has been on maintaining the funding for its bereavement services and to continue to develop this work. The longer-tem goal continues to be to increase the level of funding to Edward's Trust in order that services can respond to and meet the level of need for bereaved parents, children and young people requiring bereavement support, counselling and wellbeing in bereavement therapies. At 31 December 2024 the charity had unrestricted funds of £319.235. of which £318,156 are free reserves. Free reserves are those freely available unrestricted funds, not committed to fixed assets. These include £146,000 of reserves currently designated for future anticipated needs, at the trustees discretion. Restricted funds at 31 December2024 were £85,312. A full breakdown ofthese is provided in the notes to these accounts. FUTURE DEVELOPMENT As part of Edward's Trust's strategic planning for 2024 we have developed a three-year plan to develop our resources (financial, human, property and technology) to enable our services to develop and grow. The new income generation strategy which was developed as part of the fundraising consultation process includes new activities and initiatives to mitigate for potential gaps. Having accessed the income generation activities Trustees feel confident that by strengthening our diverse income base we will be able to deliver our organisational strategy over the next three years. New initiatives such as a programme of virtual events is being developed to attract a new audience and engage existing supporters. Trustees are confident that, with the skills of the fundraising team and its excellent track record, the Trust will continue to perform well and achieve the income generation targets necessary to ensure the effective financial perfomiance of Edward's Trust in 2025. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing documen( a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Page 6
Edward's Trust Ltd Report of the Trustees for the Year Ended 31 December 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Induction and training of new trustees Trustees are very familiar with the day-to-day work of the charity and are regularly updated at Board meetings and through their contact with the staff. New trustees apply for the position and are formally interviewed by the Board. The Chief Executive oversees induction and training of trustees and ensures that this covers the obligations of Trustees and the Board. the main documents which set out the operational framework for the charity including the Memorandum and Articles. resourcing and the current financial position future plans and objectives including the charity's strategic plan document. Trustee training is an ongoing process to ensure the board are aware of cuent legislation and Trustee responsibilities. An annual training event is part of the prOS$. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on 03 Septem ber 2025 and signed on its behalf by.. Christine Bodkin- Chair of Trustees Page 7
Independent Examinerfs Report to the Trustees of Edward's Trust Ltd Independent examinerfs report to the trustees of Edward's Trust Ltd ('the Company. I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145{51 Ibl of the 2011 Act. Independent examinerfs statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales. which is one of the listed bodies. I have completed my examination. I confinn that no matters have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act., or the accounts do not accord with those records" or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination, or the accounts have not been prepared in accordan with the methods and principles of the Statement of Recommended Practice for accounting and reports-ng by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. David Williams FCA FCCA Locke Williams Associates LLP Chartered Accountants Studio 2 50-54 St Pauls Square Birmingham West Midlands B3 1QS Date.. 03 September202C Page 8
Edward's Trust Ltd Statement of Financial Activities Ilncorporating an Income and Expenditure Account) for the Year Ended 31 December 2024 31.12.24 Total funds 31.12.23 Total funds as restated Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 292,090 185,313 477.403 632,170 Charitable activities Holistic bereavement care other trading activities Investment income 20 6,511 20 6,511 143 5,335 Total 298,621 185.313 483,934 638,488 EXPENDITURE ON Raising funds 97,547 1,529 99,076 100,820 Charitable activities Holistic bereavement care 320,085 235,400 555,485 570,288 Total 417,632 236,929 654,561 671,108 NET INCOMEI(EXPENDITURE) (119.011) (51.616) (170,627 {32,620) RECONCILIATION OF FUNDS Total funds brought forward As previously reported Prior year adjustment 438,246 136,928 575,174 607,794 14 As restated 438,246 136.928 575.174 607,794 TOTAL FUNDS CARRIED FORWARD 319,235 85.312 575,174 The notes form part of these financial statements Page 9
Edward's Trust Ltd Balance Sheet 31 December 2024 31.12.24 Total funds 31.12.23 Total funds as restated Unrestricted nds Restricted funds Notes FIXED ASSETS Tangible assets 15 1,079 1.079 578 CURRENT ASSETS Debtors Cash at bank and in hand 16 37,559 337,869 37,559 423.181 33,025 631,132 85.312 375.428 85,312 460.740 664,157 CREDITORS Amounts falling due within one year 17 (26,707) (26.707) (89,561 } NET CURRENT ASSETS 348,721 85.312 434 033 574,596 TOTAL ASSETS LESS CURRENT LIABILITIES 349,800 8S.312 435.112 575,174 CREDITORS Amounts falling due after more than one year 18 (30,565) (30.565) NET ASSETS 319,235 575,174 FUNDS Unrestricted ndS Restricted funds 20 319,235 85,312 438,246 136,928 TOTAL FUNDS 404,547 575,174 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. (b) The notes form part of these financial statements Page 10
Edward's Trust Ltd Balance Sheet- continued 31 December 2024 These financial ststements have been prepared in accordan with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 03 September 2025 and were signed on its behalf by- Christine Bodkin - Trustee The notes form part of these financial statements Page11
Edward's Trust Ltd Cash Flow Statement for the Year Ended 31 December 2024 31.12.24 31.12.23 as restated Notes Cash flows from operating activities Cash generated from operations 24 212,844 27,724 Net cash (used in)Iprovided by operating activities 212,844) 27,724 Cash flows from investing activities Purchase of tangible fixed assets Interest received {1,618) Net cash provided by investing activities 4,893 5,335 Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period (207.951 33,059 631,132 598,073 Cash and cash equivalents at the end of the reporting period 423.181 631,132 The notes form part of these financial statements Page 12
Edward's Trust Ltd Notes to the Financial Statements for the Year Ended 31 December 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP {FRS 1021 'Accounting and Reporting by Charities= Statement of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Going concem The Trustees assess whetherthe use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate reSoUrS to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial stalements. Income All income is recognised in the Statement of Financial Activities once the charity is legally entitled to the income after any performan conditions have been met. the amount can be measured reliably and it is probable that the income will be reived. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. For legacies, receipt must be recognised when it is probable that it will be reived. Receipt is normally probable when.. there has been a grant of probate., the executors have established that there are sufficient assets in the estate, after settling any liabilities. to pay the legacy, and any conditions attached to the legacy are either within the control of the charity or have been met. Income from trading activities includes income eamed from fundraising events and trading activities to raise funds for the charity- Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees, Annual Report. Expenditure All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount ofthe obligation can be measured reliably. It is categorised underthe following headings.. Costs of raising funds Expenditure on charitsble activities Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. Allocation and apportionment of costs Resources expended are allocated to the particular activity where the cost relates directly to that activity. Page 13
Edward's Trust Ltd Notes to the Financial Ststements - continued for the Year Ended 31 December 2024 ACCOUNTING POLICIES - continued Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Office equipment 330/0 on cost Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular Stricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Temination benefits Termination benefits are monies paid when employment is temiinated before the normal retirement date, or whenever an employee accepts voluntary redundancy in exchange for these benefits. The company recognises termination benefits when it is demonstrably committed to either.. terminating the employment of current employees according to a detailed fomal plan without possibility of withdrawal or providing termination benefits as a result of an offer made to encourage voluntary redundancy. Debtors and creditor5 receivablelpayable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction pri. Any losses arising from impairment are recognised in expenditure. Leasing commitments Rentals applicable to operating leases where substantialty all of the benefits and risks of ownership remain with the lessor are charged against income on a straight line basis over the period of the lease. DONATIONS AND LEGACIES 31.12.24 31.12.23 as restated Donations Gift aid Legacies Grants 266,026 21,058 5,006 185,313 280,590 16,346 7,160 328,074 477,403 632,170 Page 14
Edward's Trust Ltd Notes to the Financial Ststements - continued for the Year Ended 31 December 2024 OTHER TRADING ACTIVITIES 31.12.24 31.12.23 as restated Sale of merchandise 20 143 INVESTMENT INCOME 31.12.24 31.12.23 as restated Interest receivable 6,511 5,335 INCOME FROM CHARITABLE ACTIVITIES 31.12.24 31.12.23 as restated Activity Holistic bereavement care Training income 840 RAISING FUNDS Raising donations and legacies 31.12.24 31.12.23 as restated Staff costs Telephone & stationery Fundraising costs Travelling & sundry 80,361 813 16,043 79,043 831 18,826 2,120 99,076 100,820 CHARITABLE ACTIVITIES COSTS Direct Costs (see note 8) Support costs (see note 9) Totals Holistic bereavement care 479,034 555 485 Page 15
Edward's Trust Ltd Notes to the Financial Ststements - continued for the Year Ended 31 December 2024 DIRECT COSTS OF CHARITABLE ACTIVITIES 31.12.24 31.12.23 as restated Stsff costs PR & marketing Child & family welfare Telephone Other direct Propety expenses Professional fees Depreciation 285,767 3,530 2,023 7,319 48,304 115,172 15,802 276,298 2,102 7,620 7,478 35,735 135,350 12,545 2,280 479,034 479.408 SUPPORT COSTS Govemance costs Finance Totals Holistic bereavement care 4.081 72,370 76,451 Support costs, included in the above, are as follows: 31.12.24 31.12.23 as restated Holistic bereavement care Total activities Bank charges Stsff costs Accountancy Legal & professional fees Travelling & sundry 4,081 48,216 14,017 10,137 3,815 47,426 13,909 25,223 507 76,451 90,880 10. NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after chargingl(crediting)'. 31.12.24 31.12.23 as restated Depreciation - owned assets Fees for Independent Examination Fees for other services 1,117 1,140 1,320 2,280 1,140 1,200 Page 16
Edward's Trust Ltd Notes to the Financial Ststements - continued for the Year Ended 31 December 2024 11. TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. Trustees. expenses There were no Trustee expenses reimbursed in the year (2023 one trustee reimbursed .' £1,217}. 12. STAFF COSTS 31.12.24 31.12.23 as restated Wages and salaries 414,344 402,767 414,344 402,767 The average monthly number of employees during the year was as follows: 31.12.24 31.12.23 as restated Management of Trust Fundraising & publicity Counselling Administration 11 18 17 No employees received emoluments in excess of £60,000. The total amount of employee benefits received by key management personnel is £59,32212023 £59,760) The key management personnel ofthe Charity comprise the Trustees, Chief Executive Officer and Clinical Lead. See note 11 for trustees, remuneration and benefits. 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Restricted funds Total funds as restated INCOME AND ENDOWMENTS FROM Donations and legacies 342,094 290,076 632,170 Charitable activities Holistic bereavement care 840 840 Other trading activities Investment income 143 5,335 143 5,335 Total 348,412 290,076 638,488 EXPENDITURE ON Raising funds 99,678 1,142 100,820 Charitable activities Holistic bereavement care 314,310 255,978 570,288 Page 17
Edward's Trust Ltd Notes to the Financial Ststements - continued for the Year Ended 31 December 2024 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted funds nds Total funds as restated Total 413,988 257,120 671,108 NET INCOMEI(EXPENDITURE) (65,576) 32,956 {32,620} RECONCILIATION OF FUNDS Total funds brought forward 503,819 103,975 607,794 TOTAL FUNDS CARRIED FORWARD 438,243 136,931 575,174 14. PRIOR YEAR ADJUSTMENT The allocation of income and expenditure between the Henry Smith restricted fund and the Henry Smith Covid restricted fund has been reststed for 2023. resulting in a change in the closing balances on each fund, and the corresponding opening balances for 2024. 15. TANGIBLE FIXED ASSETS Office equipment COST At 1 January 2024 Additions 12,337 At 31 December 2024 DEPRECIATION At 1 January 2024 Charge for year 11,759 At 31 December 2024 12,876 NET BOOK VALUE At 31 December 2024 1,079 At 31 December 2023 578 Page 18
Edward's Trust Ltd Notes to the Financial Ststements - continued for the Year Ended 31 December 2024 16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.24 31.12.23 as restated Trade debtors Other debtors Prepayments and accrued income 4,411 12,500 16,114 12.590 24,969 37.559 33,025 17. CREDITORS: AMOUNTS FALLING DUE THIN ONE YEAR 31.12.24 31.12.23 as restated Trade creditors Social security and other taxes Accruals and deferred income 3,672 6,164 16,871 61,201 28,360 26.707 89,561 18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.12.24 31.12.23 as restated Accruals and deferred income 30,565 19. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows.. 31.12.24 31.12.23 as restated Within one year Between one and five years In more than five years 52.000 229,649 268,657 12,500 220.816 329,489 550,306 562,805 Page 19
Edward's Trust Ltd Notes to the Financial Ststements - continued for the Year Ended 31 December 2024 20. MOVEMENT IN FUNDS Prior year adjustment Net movement in funds Transfers betsveen funds At 31.12.24 At 1.1.24 Unrestricted funds General fund Designated funds 292,246 146.000 1119.011) 16,000 16.000) 189,235 130,000 438.246 1119,011) 319,235 Restricted funds Black CoLbntry ICB Eveson Trust Fairer Futures Henry Smith Henry Smith - Covid James Tudor Foundation Limoges Trust Masonic Charitsble Trust Openwork Foundation Reaching Communities Continuation 29th May 1961 CT Lord Austin Awards for All Barbara Ward Charitable Trust Baron Davenport DMF Ellis GJW Charitable Trust 2.634 12,634) 10,470 12,740) {15.861) 13) 10,470 2,740 32.711 655 {16,850) 16,850 17,502 5,000 7.000 15,000) 17.000) 17.131 12,742 13,030) {12,742) 14,101 56.315 {43.997) 5,000 3,000 7.671 12,318 5,000 3,000 7,671 5,250 2,000 3,000 5,000 5,250 2,000 3,000 5,000 136,928 51,616 85.312 TOTAL FUNDS 575,174 170,627) 404,547 Page 20
Edward's Trust Ltd Notes to the Financial Ststements - continued for the Year Ended 31 December 2024 20. MOVEMENT IN FUNDS - continued Net movement in funds, included in the above are as foll0v.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 298,621 (417,632 (119,011 Restricted funds Black Country ICB Eveson Trust Fairer Futures Henry Smith Henry Smith - Covid James Tudor Foundation Limoges Trust Masonic Charitsble Trust Openwork Foundation Reaching Communities- Continuation 29th May 1961 CT Lord Austin Awards for All Barbara Ward Charitable Trust Baron Davenport Bimingham & District Nursing Charitable Trust DMF Ellis GJW Charitable Trust Harborne Parish Lands Charity Limoge {£3k) 38,986 15,000 994 (41,620) (4,530 {3,734 (15,861) (34,703) (5,000) {7,000 {3,030 (12,742) (89,646) (2,634) 10,470 (2,740) 115,861) (3) (5,000) (7,000) (3,030) 112,742) 143,997) 5,000 3,000 7,671 5,250 2,000 34,700 45,649 5,000 3,000 9,996 7,000 2,000 {2,325 {1,750 3,000 3,000 5,000 8,988 3,000 {3,000) 3,000 5,000 {8,988 3,000 185.313 236.929 51.616 TOTAL FUNDS 483,934 654,561 170,627) Page 21
Edward's Trust Ltd Notes to the Financial Ststements - continued for the Year Ended 31 December 2024 20. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement in funds At 31.12.23 At1.1.23 Unrestricted funds General fund Designated funds 357,819 146,000 (65,573) 292,246 146,000 503,819 (65,5731 438,246 Restricted funds BBC Children In Need Birmingham CCG Black Country ICB Eveson Trust Fairer Futures George Fentham Henry Smith Henry Smith - Covid James Tudor Foundation Limoges Trust Masonic Charitable Trust Openwork Foundation Reaching Communities- Original Reaching Communities - Continuation 20,786 2,113 (20,786) (2,1131 2,634 (9,5381 2,740 11,4471 8,503 {16,584) 5,000 7,000 6.532 12,742 (18,045) 56,315 2,634 9.538 2,740 1,447 24,208 17.239 32,711 655 5,000 7,000 17,131 12,742 10.599 18,045 56,315 103,975 32,953 136 928 TOTAL FUNDS 607,794 32,620} 575,174 Page 22
Edward's Trust Ltd Notes to the Financial Ststements - continued for the Year Ended 31 December 2024 20. MOVEMENT IN FUNDS - continued Comparative net movement in funds. included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 348.412 (413,9851 {65,573) Restricted funds BBC Children In Need Birmingham CCG Black Country ICB Eveson Trust Fairer Futures George Fentham Henry Smith Henry Smith - Covid James Tudor Foundation Limoges Trust Masonic Charitable Trust Openwork Foundation Reaching Communities- Original Reaching Communities- Continuation (20,786) (2,1141 (26,252) 19,5381 16,2041 (1,4471 (62,147) (33,435) {20,786) (2,113) 2,634 (9,538) 2,740 (1,447) 8,503 {16,584) 5,000 7,000 6,532 12,742 {18,045) 56,315 28,886 8.944 70,650 16,851 5,000 7,000 26,672 12.742 (20,140) (18,045) 57,015) 113,330 290,076 257,123 32,953 TOTAL FUNDS 638,488 671,1081 32,620) The unrestricted funds are available to be spent for any purposes of the charity. The trustees have designated reserves of £130,000 for the following anticipated purposes.. Service development IT infrastructure Propety relocation and dilapidation Hub development £50,000 £15,000 £40,000 £25,000 All restricted funds are expended on counsellor salanes and child and family welfare costs. 21. EMPLOYEE BENEFIT OBLIGATIONS The pension costs charged to the Statement of Financial Activities represent the amount of the contributions payable to the schemes in respect of the accounting period. Page 23
Edward's Trust Ltd Notes to the Financial Ststements - continued for the Year Ended 31 December 2024 22. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2024. 23. ULTIMATE CONTROLLING PARTY The charitable company is under the control of its trustees. 24. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES 31.12.24 31.12.23 as restated Net expenditure for the reporting period {as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest received Increase in debtors {Decreasellincrease in creditors 1170,627) 132,620) 1.117 16,5111 14,5341 32,289 2,280 15,335) 19,536) 72,935 Net cash lused in)Iprovided by operations 212,844) 27,724 25. ANALYSIS OF CHANGES IN NET FUNDS At1.1.24 Cash flow At 31.12.24 Net cash Cash at bank and in hand 631,132 207,951 423.181 631,132 207,951) 423 181 Total 631 132 207 951 423 181 26. COMPANY LIMITED BY GUARANTEE The Trust is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. Page 24