**Charity number: 1123662**
## **THE DREAM FACTORY**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2021**
## **THE DREAM FACTORY**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 6|
|**Trustees' responsibilities statement**|7|
|**Independent examiner's report**|8 - 9|
|**Statement of financial activities**|10|
|**Balance sheet**|11|
|**Notes to the financial statements**|12 - 21|
## **THE DREAM FACTORY**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021**
**Trustees** Mrs G Kelly, Chair Mr D West, Vice Chair and Treasurer Ms A Mills BEM, Trustee Ms A J Galanpoulos, Trustee Ms B Haer, Trustee (resigned 25 May 2021) Mrs L J Clarke, Trustee Mrs S J Potter, Trustee (appointed 20 April 2020) **Charity registered number** 1123662 **Principal office** Unit 1A 62-70 Fowler Road, Hainault Business Park Ilford Essex IG6 3UT **Finance officer** Mr D West **Accountants** Haslers Chartered Accountants Old Station Road Loughton Essex IG10 4PL
Page 1
## **THE DREAM FACTORY**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021**
The Trustees present their annual report together with the financial statements of The Dream Factory (the charity) for the ended 31 March 2021. The Trustees confirm that the Annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities (effective 1 January 2015).
## **Structure, governance and management**
## **CONSTITUTION**
The work of The Dream Factory began in January 2008 and became registered as a charity on 1st April 2008. The company was established under a Trust Deed which established the objects and powers of the charity.
## **METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES**
We currently have six charity trustees for the purposes of charity law.
The current members have between them knowledge and skills in: management, fundraising, event management, statistics, charity law and practice, accountancy and human resources.
We are currently looking to recruit at least one new trustee to expand on the areas of expertise currently covered.
## **POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES**
The trustees are familiar with the practical work of the charity. New trustees will have a period of induction which includes meeting staff and volunteers and hearing a summary of the project from the Chair of Trustees. They will receive a copy of the Trust Deed, a copy of the Charity’s latest report and statement of accounts, the Charity Commission publications outlining their obligations and a copy of the policies and procedures.
## **ORGANISATIONAL STRUCTURE AND DECISION MAKING**
The Dream Factory now has a Trustee Board of six members. The Board meet at least three times per year and are responsible for the strategic direction and policy of the charity.
A scheme of delegation is in place and day to day responsibility for the provision of the services rests with the Chair of Trustees who is responsible for ensuring that the charity delivers the services specified and that key performance indicators are met.
## **RISK MANAGEMENT**
Systems and procedures have been established to mitigate the risks the charity faces. External risks to funding have been identified and this has led to the decision to diversify activities and sources of funding. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers, clients and visitors to all sites.
## **TRUSTEES' INDEMNITY INSURANCE**
During the year Trustees’ indemnity insurance was included in the charity policy. The level of cover was £100,000.
Page 2
## **THE DREAM FACTORY**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
## **Objectives and Activities**
## **AIMS AND OBJECTIVES**
The charity’s objects are:
To relieve the suffering of children and young people aged from 3 years to 25 years, living in the UK with life limiting or terminal illnesses and/or severe disabilities, by granting Wishes and Dreams in order to bring happiness and joy, for example: toys and games, meeting a famous person, trip or party, etc.
## **STRATEGIES FOR ACHIEVING OBJECTIVES**
We review our activities each year to measure how we have used our resources and the outcomes we have achieved.
## **HOW OUR ACTIVITIES DELIVER PUBLIC BENEFIT**
All our charitable activities focus on granting Wishes and Dreams to children and young people who meet our criteria. The granting of these Dreams involves meeting children, young people and their families, obtaining information and permission, organising events for them, purchasing items, contacting companies and celebrities on their behalf and accompanying them on their Dream where appropriate.
## **FUNDRAISING ACTIVITIES/INCOME GENERATION**
Fundraising during the last financial year was somewhat curtailed compared to previous years because of the general restrictions placed on holding face to face events during the coronavirus pandemic. As such we had to maximise opportunities for virtual fundraising during this difficult time.
We still had good support by way of personal donations, virtual events including an e-cookbook and advent calendar and a very successful slimathon by a business contact in lieu of being able to run a golf day for the charity.
## **DREAMS GRANTED**
The number of dreams that we could run in the year was reduced as a result of the pandemic – favourite dreams such as holidays were not possible and face to face activities were restricted. The majority of dreams granted in the year were based around the provision of electronic equipment - laptops, iphones etc – where the dream could be completed safely without the need for face to face contact between our dream makers and the dream children. Overall, despite the restrictions, we managed to complete 20 dreams in a covid safe manner during the year.
Dream requests continue to be received and we aim to grant more dreams in the coming year as things begin to get back to more of a norm.
## **PROMOTING OUR SERVICE**
We are well known within local hospitals and their charities such as Clic Sargent who pass our information on to their patients. We visit children's hospices, schools, community groups etc. and distribute information leaflets wherever possible. Our website has information about our services and we use social media platforms such as Facebook, Twitter, Linkedin and Instagram. Dream requests are received via these sources and more such as word of mouth.
Page 3
## **THE DREAM FACTORY**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
## **VOLUNTEERS**
The Dream Factory volunteer force is divided into three teams:
1. Dream Makers
2. Fundraising and events
3. Office team
Dream Makers work in teams of 2 or 3 and visit families following a request for a Dream; identify with the child or young person 3 Dreams that they are excited about; research the feasibility of the requests and agree the way forward with the child/guardian or young person; provide the Dream; follow up after the event. The Dream Makers are recruited, trained, coordinated and supervised by Seema Hindocha our Dream Coordinator.
Fundraisers work under the supervision of Avril Mills, Trustee, who recruits and trains them. The volunteer fundraisers provide information, materials and manpower to companies and groups putting on fundraising events for The Dream Factory. They also form the team at The Dream Factory’s own fundraising and awareness raising events.
Office volunteers assist with administration in the office. This year due to the pandemic staff were working from home or furloughed under government guidelines so no volunteers were unable to in the office during this period. In early 2021 Avril Mills reduced her working hours and responsibility for the Office Team has been taken on by our Trustee Amanda Galanopoulos, as Volunteer Office Manager.
## **PATRONS**
We welcomed two new Patrons to our team during the year.
Dipna Anand is a celebrity chef who co-owns the famous Brilliant Restaurant and Banqueting Suite in Southall, specialising in Punjabi cuisine, showcasing some of her grandfather’s recipes dating back to over 75 years. Dipna has recently won The Family Team Restaurant of the Year Award at the British Curry Awards.
Michael Watson MBE is a British professional boxer who competed from 1984 to 1991. He held the Commonwealth middleweight title from 1989 to 1991 and challenged three times for a world title between 1990 and 1991.
## **Achievements and performance**
## **REVIEW OF ACTIVITIES**
This year's income has reduced by £2,976 compared to 2020 with a different mix of donations and events across those run by our own teams and those by our business supporters. Expenditure also decreased during the year by £27,476. This was driven by a lower spend on Dreams expenses due to the decreased number of Dreams provided. This has resulted in a net deficit of £4,472 (2020: deficit of £28,972). At 31 March 2021 the charity had unrestricted free reserves of £175,036 (2020: £179,208) and restricted reserves of £1,000 (2020: £1,300).
## **INVESTMENT POLICY AND PERFORMANCE**
The amount of investment income shown in the accounts is derived from money left on deposit in the bank and charity deposit fund.
Page 4
## **THE DREAM FACTORY**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
## **Financial review**
## **PRINCIPAL FUNDING**
Our principal sources of funding are:
- Corporate donations
- Individual donations
- Fundraising events
- Online Fundraising
- Sponsorship for fundraising activities
## **RESERVES POLICY**
The overriding factors driving this policy are the Trustees’ desire to be able to continue to grant Wishes and Dreams to children and young people who meet The Dream Factory criteria and to secure the staff’s continuing employment, which is fundamental to achieving our aims.
The object is to maintain at least twelve months reserves. With some of our events’ funding arriving up to two months in arrears and the receipt of donations fluctuating during holiday periods this approach has been vital. Without this money in the reserve fund it would be difficult for us to operate at times in the year; it is in effect our working capital.
Given the current difficult financial climate and the consequent uncertainty about the future level of donations and fund raising support, the Trustees are satisfied about the current level of reserves being in excess of our objective at this time. The reserves will ensure the continuity of our Dream fulfilment activities for the foreseeable future..
## **Plans for future periods**
## **COVID 19**
As the country has begun to open up from the pandemic the charity has been able to start to rebuild both face to face fundraising events and to run a wider variety of dreams for the children although with the latter we believe it will be a little while before we can start to offer dreams such as trips to Euro Disney again.
We hope that the pandemic is now on its way out and that we will not have to restrict what we can offer too much in the weeks and months ahead.
## **FUTURE DEVELOPMENTS**
We plan to grant as many dream requests as possible within our resources and expertise.
We plan to recruit more volunteers in order to meet the demands for Wishes and Dreams.
We plan to promote the work of the charity in areas not yet reached by The Dream Factory; we will do this by providing information and holding meetings with hospital and community Paediatric Nursing Teams to encourage them to pass on our information to their patients. We will endeavour to continue to publicise our work through local newspapers and organisations providing services to children and young people in neighbouring boroughs.
As the charity grows we will recruit more Trustees to ensure adequate numbers for meetings, to widen the range of expertise and to ensure good governance.
Page 5
**THE DREAM FACTORY**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
## **INDEPENDENT EXAMINER**
Haslers Chartered Accountants were reappointed as the charity’s Independent Examiners during the year and have expressed their willingness to continue in that capacity.
## **TRUSTEES**
Trustees who served during the year and up to the date of this report are:
Mrs G Kelly, Chair Mr D West, Vice Chair and Treasurer Ms A Mills BEM, Trustee Ms A J Galanopoulos, Trustee Ms B Haer, Trustee (resigned 25th May 2021) Mrs L J Clarke, Trustee Mrs S J Potter, Trustee (appointed 20 April 2020)
Trustee Avril Mills, is employed by the charity in accordance with the conditions within the Trust Deed.
As Trustees we certify that:
- So far as we are aware, there is no relevant accounting information of which the charity’s independent examiners are unaware; and
- We have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant accounting information and to establish that the charity’s independent examiners are aware of that information
Approved by order of the members of the board of Trustees on 31 August 2021 and signed on their behalf by:
## **Mr D West**
Trustee
Page 6
## **THE DREAM FACTORY**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2021**
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 31 August 2021 and signed on its behalf by:
**Mr D West** Trustee
Page 7
## **THE DREAM FACTORY**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2021**
## **Independent examiner's report to the Trustees of The Dream Factory ('the charity')**
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 March 2021.
## **Responsibilities and basis of report**
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to 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.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Page 8
## **THE DREAM FACTORY**
## **INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
Dated: 31 August 2021
Laura Ambrose
ACA
**Haslers** Chartered Accountants Old Station Road Loughton Essex IG10 4PL
Page 9
## **THE DREAM FACTORY**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021**
|**Note**
**Income from:**
Donations and legacies
3
Other trading activities
4
Investments
5
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2021**
**£**
**70,033**
**28,762**
**157**
**98,952**
**29,378**
**73,746**
**103,124**
**(4,172)**
**179,208**
**(4,172)**
**175,036**|**Restricted**
**funds**
**2021**
**£**
**3,500**
**-**
**-**
**3,500**
**-**
**3,800**
**3,800**
**(300)**
**1,300**
**(300)**
**1,000**|**Total**
**funds**
**2021**
**£**
**73,533**
**28,762**
**157**
**102,452**
**29,378**
**77,546**
**106,924**
**(4,472)**
**180,508**
**(4,472)**
**176,036**|_Total_
_funds_
_2020_
_£_
_71,967_
_32,989_
_472_
_105,428_
_40,321_
_94,079_
_134,400_
_(28,972)_
_209,480_
_(28,972)_
_180,508_|
|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 12 to 21 form part of these financial statements.
Page 10
## **THE DREAM FACTORY**
## **BALANCE SHEET AS AT 31 MARCH 2021**
|**Note**
**Current assets**
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within one
year
11
**Net current assets**
**Total net assets**
**Charity funds**
Restricted funds
12
Unrestricted funds
12
**Total funds**|**7,950**
**175,336**
**183,286**
**(7,250)**|**2021**
**£**
**176,036**
**176,036**
**1,000**
**175,036**
**176,036**|_10,788_
_176,757_
_187,545_
_(7,037)_|_2020_
_£_
_180,508_|
|---|---|---|---|---|
||||||
|||||_180,508_|
|||||_1,300_
_179,208_|
||||||
|||||_180,508_|
The financial statements were approved and authorised for issue by the Trustees on 31 August 2021 and signed on their behalf by:
## **Mr D West**
## Trustee
The notes on pages 12 to 21 form part of these financial statements.
Page 11
## **THE DREAM FACTORY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **1. General information**
The Dream Factory is a charitable organisation, registered in England and Wales, with a charity number of 1123662. The registered address is Unit 1A, 62-70 Fowler Road, Hainault Business Park, Ilford, Essex, IG6 3UT.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Dream Factory meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Income**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Page 12
## **THE DREAM FACTORY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **2. Accounting policies (continued)**
## **2.3 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it 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 activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the 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 charity to raise funds for its 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 charity's objectives, as well as any associated support costs.
## **2.4 Government grants**
Government grants relating to tangible fixed assets are treated as deferred income and released to the statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the statement of financial activities as the related expenditure is incurred.
## **2.5 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **2.6 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.7 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 13
**THE DREAM FACTORY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **2. Accounting policies (continued)**
## **2.8 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost.
## **2.9 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
## **3. Income from donations and legacies**
|**Unrestricted**
**funds**
**2021**
**£**
Donations
25,837
Insurance claim
4,840
Government grants
29,209
Donated services
10,147
70,033
_Total 2020_
_66,467_|**Restricted**
**funds**
**2021**
**£**
3,500
-
-
-
3,500
_5,500_|**Total**
**funds**
**2021**
**£**
**29,337**
**4,840**
**29,209**
**10,147**
**73,533**
_71,967_|_Total_
_funds_
_2020_
_£_
_65,067_
_-_
_-_
_6,900_|
|---|---|---|---|
||||_71,967_|
|||||
Page 14
## **THE DREAM FACTORY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **4. Income from other trading activities**
## **Income from fundraising events**
|Fundraising income
_Total 2020_
**5.**
**Investment income**
Interest receivable
_Total 2020_
**6.**
**Analysis of expenditure by activities**
Direct costs
_Total 2020_|**Unrestricted**
**funds**
**2021**
**£**
28,762
_32,989_
**Unrestricted**
**funds**
**2021**
**£**
157
_472_
**Activities**
**undertaken**
**directly**
**2021**
**Support**
**costs**
**2021**
**£**
**£**
39,736
37,810
_58,269_
_35,810_|**Total**
**funds**
**2021**
**£**
**28,762**
_32,989_
**Total**
**funds**
**2021**
**£**
**157**
_472_
**Total**
**funds**
**2021**
**£**
**77,546**
_94,079_|_Total_
_funds_
_2020_
_£_
_32,989_|
|---|---|---|---|
||||_Total_
_funds_
_2020_
_£_
_472_|
||||_Total_
_funds_
_2020_
_£_
_94,079_|
|||||
## **Analysis of direct costs**
Page 15
## **THE DREAM FACTORY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **6. Analysis of expenditure by activities (continued)**
## **Analysis of direct costs (continued)**
|Wages and salaries
Dream making expenses|**Total**
**funds**
**2021**
**£**
**23,042**
**16,694**
**39,736**|_Total_
_funds_
_2020_
_£_
_25,095_
_33,174_|
|---|---|---|
|||_58,269_|
Page 16
## **THE DREAM FACTORY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **6. Analysis of expenditure by activities (continued)**
## **Analysis of support costs**
|Wages and salaries
Telephone expenses
Printing, postage and stationary
Just Giving administration fees
Miscellaneous
Rental expenses
Independent Examiner's fees
Professional fees
Insurance
Charity Donation
Motor Running Costs
Computer Costs|**Total**
**funds**
**2021**
**£**
**18,734**
**945**
**234**
**216**
**1,151**
**5,400**
**2,700**
**3,104**
**2,243**
**3**
**2,660**
**420**
**37,810**|_Total_
_funds_
_2020_
_£_
_20,303_
_1,706_
_260_
_216_
_1,456_
_5,400_
_2,700_
_1,635_
_2,134_
_-_
_-_
_-_|
|---|---|---|
|||_35,810_|
## **7. Independent examiner's remuneration**
The independent examiner's remuneration amounts to an independent examiner fee of £2,700 ( _2020_ - _£2,700_ ).
## **8. Staff costs**
|Wages and salaries|**2021**
**£**
**70,789**
**70,789**|_2020_
_£_
_77,013_|
|---|---|---|
||||
|||_77,013_|
Page 17
## **THE DREAM FACTORY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **8. Staff costs (continued)**
The average number of persons employed by the charity during the year was as follows:
||**2021**|_2020_|
|---|---|---|
||**No.**|_No._|
|Employees|**5**|_5_|
No employee received remuneration amounting to more than £60,000 in either year.
## **9. Trustees' remuneration and expenses**
Trustees received remuneration amounting to £44,189 in the current year for their role as an employee (2020 - £47,333).
Trustees received benefits in kind amounting to £7,435 in the current year (2020 - £7,879).
Trustees received reimbursement of expenses amounting to £266 (2020 - £633).
## **10. Debtors**
|**Due within one year**
Other debtors|**2021**
**£**
**7,950**
**7,950**|_2020_
_£_
_10,788_|
|---|---|---|
||||
|||_10,788_|
## **11. Creditors: Amounts falling due within one year**
|Other taxation and social security
Accruals and deferred income|**2021**
**£**
**656**
**6,594**
**7,250**|_2020_
_£_
_1,708_
_5,329_|
|---|---|---|
||||
|||_7,037_|
Page 18
## **THE DREAM FACTORY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **12. Statement of funds**
## **Statement of funds - current year**
|**Unrestricted funds**
General Funds - all funds
**Restricted funds**
Specific Children's Dreams
Dream Activities - Staff costs
2021 Christmas Draw
**Total of funds**
**Statement of funds - prior year**
**Unrestricted funds**
General Funds - all funds
**Restricted funds**
Specific Children's Dreams
Dream Activities - Staff costs
**Total of funds**|**Balance at 1**
**April 2020**
**£**
**179,208**
**-**
**1,300**
**-**
**1,300**
**180,508**
_Balance at_
_1 April 2019_
_£_
_208,230_
_-_
_1,250_
_1,250_
_209,480_|**Income**
**£**
**98,952**
**2,500**
**-**
**1,000**
**3,500**
**102,452**
_Income_
_£_
_99,928_
_3,500_
_2,000_
_5,500_
_105,428_|**Expenditure**
**£**
**(103,124)**
**(2,500)**
**(1,300)**
**-**
**(3,800)**
**(106,924)**
_Expenditure_
_£_
_(128,950)_
_(3,500)_
_(1,950)_
_(5,450)_
_(134,400)_|**Balance at**
**31 March**
**2021**
**£**
**175,036**|
|---|---|---|---|---|
|||||**-**
**-**
**1,000**|
|||||**1,000**|
|||||**176,036**|
|||||_Balance at_
_31 March_
_2020_
_£_
_179,208_|
|||||_-_
_1,300_|
|||||_1,300_|
|||||_180,508_|
Page 19
## **THE DREAM FACTORY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **13. Summary of funds**
## **Summary of funds - current year**
|General funds
Restricted funds
**Summary of funds - prior year**
General funds
Restricted funds|**Balance at 1**
**April 2020**
**£**
**179,208**
**1,300**
**180,508**
_Balance at_
_1 April 2019_
_£_
_208,230_
_1,250_
_209,480_|**Income**
**£**
**98,952**
**3,500**
**102,452**
_Income_
_£_
_99,928_
_5,500_
_105,428_|**Expenditure**
**£**
**(103,124)**
**(3,800)**
**(106,924)**
_Expenditure_
_£_
_(128,950)_
_(5,450)_
_(134,400)_|**Balance at**
**31 March**
**2021**
**£**
**175,036**
**1,000**|
|---|---|---|---|---|
|||||**176,036**|
|||||_Balance at_
_31 March_
_2020_
_£_
_179,208_
_1,300_|
|||||_180,508_|
## **14. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2021**
**£**
Current assets
182,286
Creditors due within one year
(7,250)
**Total**
175,036|**Restricted**
**funds**
**2021**
**£**
1,000
-
1,000|**Total**
**funds**
**2021**
**£**
**183,286**
**(7,250)**|
|---|---|---|
|||**176,036**|
Page 20
## **THE DREAM FACTORY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **14. Analysis of net assets between funds (continued)**
## **Analysis of net assets between funds - prior year**
|Current assets
Creditors due within one year
**Total**|_Unrestricted_
_funds_
_2020_
_£_
_186,245_
_(7,037)_
_179,208_|_Restricted_
_funds_
_2020_
_£_
_1,300_
_-_
_1,300_|_Total_
_funds_
_2020_
_£_
_187,545_
_(7,037)_
_180,508_|
|---|---|---|---|
## **15. Related party transactions**
During the year the charity incurred a total of £51,890 (2019: £55,845) which represents their remuneration, benefits in kind and reimbursement of expenses.
Page 21