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← The Dream Factory

2025-03-31-accounts

Charity number: 1123662

THE DREAM FACTORY

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

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 2025

Trustees Ms A J Galanopoulos, Chair (resigned 6 July 2025)
Mr T Burton, Treasurer
Mr J Mills, Trustee
Mrs A Lawrenson, Trustee
Mrs L J Clarke, Trustee
Ms A Mills BEM, Trustee
Ms S Woodley-Dyne, Trustee (resigned 22 July 2025)
Mr M Goldie, Trustee
Charity registered
number
1123662
Principal office
Unit 1A
62-70 Fowler Road, Hainault Business Park
Ilford
Essex
IG6 3UT
Finance officer
Mr T Burton
Accountants
Haslers
Chartered Accountants
Old Station Road
Loughton
Essex
IG10 4PL

Page 1

THE DREAM FACTORY

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present their annual report together with the financial statements of The Dream Factory (the charity) for the ended 31 March 2025. 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 eight 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 continue to look to recruit new trustees who can 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 eight 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. Our overriding concern is to remain a going concern which directly links to our revenue raising capacity.

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 2025

Objectives and Activities

AIMS AND OBJECTIVES

The charity’s objectives 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. We strive to ensure we maximise the value of every £ that we spend.

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 excellent with some strong donations from individuals, positive contributions from businesses including Golf Days and some successful events that we undertook ourselves.

DREAMS GRANTED

We continue to increase the number of Dreams we are able to grant to take full advantage of the funds we are generating. We are now back to running our full range of Dreams and we have increased the resource we have in support of this process to enable this to happen. We completed 63 dreams in the year compared to 44 in the previous year.

Dream requests continue to be received and we aim to grant more dreams in the coming year. The resource we need to deliver additional Dreams is continually under review.

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 others such as word of mouth.

VOLUNTEERS

The Dream Factory volunteer force is divided into three teams:

  1. Dream Makers

  2. Fundraising and events

  3. Office team

Page 3

THE DREAM FACTORY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Dream Makers work in teams of 2 and visit families following a request for a Dream and then:

The Dream Makers are recruited, trained, coordinated and supervised by our ‘Dream Coordinator’ who is an employee of the organisation.

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. With operations now back to normal and staff working from the office we have an Operations Manager to help refine and coordinate the way we run and manage our services.

PATRONS

Our supporting team of Patrons remained unchanged during the year.

Achievements and performance

REVIEW OF ACTIVITIES

This year's income has decreased by £50,880 compared to 2024 with a different mix of donations and events across those run by our own teams and those by our business supporters. Expenditure has decreased during the year by £2,337. This has resulted in a net deficit of £68,429 (2024: deficit of £19,886). At 31 March 2025 the charity had unrestricted free reserves of £134,777 (2024: £203,206) and restricted reserves of £Nil (2024: £Nil).

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. We do however keep our investment policy under review.

Financial review

PRINCIPAL FUNDING

Our principal sources of funding are:

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.

Page 4

THE DREAM FACTORY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

The object is to maintain at least twelve months of 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 continuing 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 but we recognise that these are not limitless.

Plans for future periods

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.

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:

Ms A J Galanopoulos, Chair (resigned 6 July 2025) Mr T Burton, Treasurer Mr J Mills, Trustee Mrs A Lawrenson, Trustee Mr R Alomo, Trustee (resigned 29 August 2024) Mrs L J Clarke, Trustee Mrs S J Potter, Trustee (resigned 29 August 2024) Ms A Mills BEM, Trustee Ms S Woodley-Dyne, Trustee (resigned 22 July 2025) Mr M Goldie, Trustee

Trustee Avril Mills, is employed by the charity in accordance with the conditions within the Trust Deed. Trustee Annabel Lawrenson is employed by the charity with the conditions within the Trust Deed.

Page 5

THE DREAM FACTORY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

As Trustees we certify that:

Approved by order of the members of the board of Trustees on _______ and signed on their behalf by:

Mr T Burton Trustee

Page 6

THE DREAM FACTORY

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025

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:

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 _______ and signed on its behalf by:

Mr T Burton Trustee

Page 7

THE DREAM FACTORY

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025

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 2025.

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 2025

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:

Laura Ambrose BA(Hons) FCA

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 2025

Note
Income from:
Donations and legacies
3
Other trading activities
4
Investments
5
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net expenditure before net gains on investments
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2025
£
118,594
53,130
2,580
174,304
58,667
184,066
242,733
(68,429)
(68,429)
203,206
(68,429)
134,777		 Total
funds
2025
£
118,594
53,130
2,580
174,304
58,667
184,066
242,733
(68,429)
(68,429)
203,206
(68,429)
134,777		 Total
funds
2024
£
176,655
45,217
3,312
225,184
42,497
202,573
245,070
(19,886)
(19,886)
223,092
(19,886)
203,206

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 2025

2025
Note
£
Tangible assets
10
2,211
2,211
Current assets
Debtors
11
3,216
5,705
Cash at bank and in hand
140,130
203,278
143,346
208,983
Creditors: amounts falling due within one
year
12
(10,780)
(10,400)
Net current assets
132,566
Total net assets
134,777
Charity funds
Unrestricted funds
13
134,777
Total funds
134,777
The
financial
statements
were
approved
and
authorised
for
issue
by
the
_______and signed on their behalf by:		 2024
£
4,623
4,623
198,583
203,206
203,206
203,206
Trustees
on

Mr T Burton

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 2025

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 2025

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 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.

2.5 Tangible fixed assets and depreciation

Tangible fixed assets costing £100 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 at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment

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 2025

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

Donations
Grants
Donated services
Total 2024		 Restricted
funds
2025
£
-
-
-
-
2,400		 Unrestricted
funds
2025
£
108,818
200
9,576
118,594
174,255		 Total
funds
2025
£
108,818
200
9,576
118,594
176,655		 Total
funds
2024
£
167,655
-
9,000
176,655

Page 14

THE DREAM FACTORY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

4. Income from other trading activities

Income from fundraising events

Fundraising income
Total 2024
5.
Investment income
Interest receivable
Total 2024
6.
Analysis of expenditure by activities
Direct costs
Total 2024		 Activities
undertaken
directly
2025
£
124,937
152,516		 Unrestricted
funds
2025
£
53,130
45,217
Unrestricted
funds
2025
£
2,580
3,312
Support
costs
2025
£
59,129
50,056		 Total
funds
2025
£
53,130		 Total
funds
2024
£
45,217
Total
funds
2024
£
3,312
Total
funds
2024
£
202,572
45,217
Total
funds
2025
£
2,580
3,312
Total
funds
2025
£
184,066
202,572

Page 15

THE DREAM FACTORY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

6. Analysis of expenditure by activities (continued)

Analysis of direct costs

Wages and salaries
Dream making expenses
Analysis of support costs
Wages and salaries
Depreciation
Telephone expenses
Printing, postage and stationery
Rental expenses
Independent Examiner's fees
Professional fees
Insurance
Motor running costs		 Total
funds
2025
£
16,275
108,662
124,937
Total
funds
2025
£
35,660
2,412
941
2,290
9,450
3,216
1,528
1,779
1,853
59,129		 Total
funds
2024
£
25,005
127,511
152,516
Total
funds
2024
£
28,341
201
606
521
9,000
3,090
1,324
2,253
4,720
50,056

7. Independent examiner's remuneration

The independent examiner's remuneration amounts to an independent examiner fee of £3,216 ( 2024 - £3,090 ).

Page 16

THE DREAM FACTORY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

8. Staff costs

Wages and salaries 2025
£
105,724
105,724		 2024
£
88,533
88,533

The average number of persons employed by the charity during the year was as follows:

2025 2024
No. No.
Employees 7 6

No employee received remuneration amounting to more than £60,000 in either year.

9. Trustees' remuneration and expenses

Trustees received remuneration amounting to £46,909 (2024 - £41,183) in the current year for their role as an employee.

Trustees received no benefits in kind in the current year ( 2024 - £4,392).

Trustees received reimbursement of expenses amounting to £510 (2024: £840).

Page 17

THE DREAM FACTORY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

10.
Tangible fixed assets
Cost or valuation
At 1 April 2024
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024
11.
Debtors
Due within one year
Other debtors
12.
Creditors: Amounts falling due within one year
Accruals and deferred income		 2025
£
3,216
3,216
2025
£
10,780		 Computer
equipment
£
4,824
4,824
201
2,412
2,613
2,211
4,623
2024
£
5,705
5,705
2024
£
10,400

Page 18

THE DREAM FACTORY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

13. Statement of funds

Statement of funds - current year

Unrestricted funds
General Funds
Statement of funds - prior year
Unrestricted funds
General Funds - all funds
Restricted funds
Centre Parcs Trip
Total of funds		 Balance at 1
April 2024
£
203,206
Balance at
1 April 2023
£
223,092
-
223,092		 Income
£
173,854
Income
£
222,785
2,400
225,185		 Expenditure
£
(242,283)
Expenditure
£
(242,671)
(2,400)
(245,071)		 Balance at
31 March
2025
£
134,777
Balance at
31 March
2024
£
203,206
-
203,206

Restricted Funds

The charity will from time to time receive donations intended for a specific child's dream. In the event of this occurring, the funds are held separate from the general funds and only applied for the intended purpose, during the year there was one specific dream that fell into this category.

Page 19

THE DREAM FACTORY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

14. Summary of funds

Summary of funds - current year

General funds
Summary of funds - prior year
General funds
Restricted funds		 Balance at 1
April 2024
£
203,206
Balance at
1 April 2023
£
223,092
-
223,092		 Income
£
173,854
Income
£
222,785
2,400
225,185		 Expenditure
£
(242,283)
Expenditure
£
(242,671)
(2,400)
(245,071)		 Balance at
31 March
2025
£
134,777
Balance at
31 March
2024
£
203,206
-
203,206

15. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2025
£
Tangible fixed assets
2,211
Current assets
143,346
Creditors due within one year
(10,780)
Total
134,777		 Total
funds
2025
£
2,211
143,346
(10,780
134,777

Page 20

THE DREAM FACTORY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

15. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2024
£
4,623
208,983
(10,400)
203,206		 Total
funds
2024
£
4,623
208,983
(10,400)
203,206

16. Related party transactions

During the year the charity incurred expenditure of £47,919 (2024: £46,415) which represents remuneration, benefits in kind and reimbursement of expenses to Trustees as per note 9.

Page 21