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2020-06-30-accounts

DocuSign Envelope ID: 7EB12531-65A8-44C4-86C8-449A898CAA51

Registered number: 07035903 Charity number: 1133293

THE CHRONICLE SUNSHINE FUND

(A company limited by guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2020

DocuSign Envelope ID: 7EB12531-65A8-44C4-86C8-449A898CAA51

THE CHRONICLE SUNSHINE FUND

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the charitable company, its Trustees and 1 - 2
advisers
Trustees' report 3 - 7
Independent examiner's report 8
Statement of financial activities 9
Balance sheet 10
Notes to the financial statements 11 - 20

DocuSign Envelope ID: 7EB12531-65A8-44C4-86C8-449A898CAA51

THE CHRONICLE SUNSHINE FUND (A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2020

Trustees

Ms H Dalby, Chair Mrs B E Dean Mr J D Douglas, Deputy Chair Mr B Latham (resigned 18 March 2020) Mr R M Soloman, Chair (resigned 25 October 2019) Mrs A V Whyte Mr J Waters (appointed 25 October 2019) Miss R Bell (appointed 18 March 2020) Mr C Whittington (appointed 18 March 2020)

Company registered number

07035903

Charity registered number

1133293

Registered office

NCJ Media Limited 2nd Floor Eldon Court Percy Street Newcastle upon Tyne NE1 7JB

Company secretary

J S Waters

Charity Director

S Sargeant

Accountants

Ryecroft Glenton Chartered Accountants 32 Portland Terrace Newcastle upon Tyne NE2 1QP

Bankers

HSBC Bank plc Kingsway Team Valley Trading Estate Tyne & Wear NE11 0JT

Page 1

DocuSign Envelope ID: 7EB12531-65A8-44C4-86C8-449A898CAA51

THE CHRONICLE SUNSHINE FUND

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2020

Solicitors

Hay & Kilner Merchant House 30 Cloth Market Newcastle upon Tyne NE1 1EE

Page 2

DocuSign Envelope ID: 7EB12531-65A8-44C4-86C8-449A898CAA51

THE CHRONICLE SUNSHINE FUND (A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2020

The Trustees present their annual report together with the financial statements of the charitable company for the year 1 July 2019 to 30 June 2020. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company'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 applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the charitable company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

The charitable company, since 13 January 2014, also trades under the name “The Chronicle Sunshine Fund”

Objectives and activities

Policies and objectives

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

The charity’s objects are to benefit sick or disabled young people up to and including the age of 18 years living in the English Counties of Northumberland, Tyne and Wear, Durham and Cleveland, including but not limited to:

Activities undertaken to achieve objectives

We have a wide variety of activities to ensure we raise the profile of the charity throughout the region. This enables us to generate income for our charitable purposes. These activities include:

Page 3

DocuSign Envelope ID: 7EB12531-65A8-44C4-86C8-449A898CAA51

THE CHRONICLE SUNSHINE FUND (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2020

Objectives and activities (continued)

Specialist equipment policies

We invite individuals and organisations from the North East of England to request support for us to provide children up to and including 18 year olds with specialist equipment.

The charity's request procedure must be completed and accompanied by two supporting letters from professionals who know the child and who can explain how they will be helped by receiving the equipment. We also require two quotes for the equipment where possible. This will then be assessed by the committee on a quarterly basis. The committee is made up of some of the trustees together with experienced health professionals with expertise in children’s and young people’s health.

If successful, payment is made directly to the supplier for the equipment and delivered to the home address of the child or to the address of the organisation.

Achievements and performance

Review of activities

Our annual appeals consist of Go Bananas and Christmas.

Successful fundraising events this year include:

Treks Question of Sport Glass Slipper Awards Great North Run Mini/Junior Great North Run Sunflower Ball Sunshine Run.

The Chronicle provides a wide range of significant support to The Chronicle Sunshine Fund, including practical resources in terms of office space and the use of facilities and utilities. In-kind support such as social media training and IT guidance as well as PR opportunities on the ChronicleLive website and in The Chronicle, Journal and Sunday Sun newspapers. These opportunities and exposure to new audiences raise awareness of our charitable aims, help us promote events, generate additional income and share stories of the families we support.

Financial review

Going concern

The Trustees have considered the likely effects of the pandemic on the Company's financial position and future prospects, see future developments for full details. After making appropriate enquiries, the Trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Reserves policy

The Chronicle Sunshine Fund maintains a reserve of £30k so as to comply with the Charity Commission guidelines of three to six months running costs. This is monitored closely by the Trustees at quarterly meetings.

Page 4

DocuSign Envelope ID: 7EB12531-65A8-44C4-86C8-449A898CAA51

THE CHRONICLE SUNSHINE FUND (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2020

Structure, governance and management

Constitution

The charitable company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 1 October 2009 which has been updated in December 2013.

The charitable company is constituted under a Memorandum of Association dated 1 October 2009 and is a registered charity number 1133293.

The principal object of the charitable company is to benefit children and young people with disabilities up to and including the age of 18 years living in the English counties of Northumberland, Tyne & Wear, Durham and Cleveland.

Methods of appointment or election of Trustees

The management of the charitable company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.

In accordance with the company’s Articles of Association, Mr R M Soloman and Mr B Latham resigned as Trustees.

Helen Dalby was elected as Chair and John Douglas elected as Deputy Chair. Jonathan Waters was elected as Trustee.

Organisational structure and decision-making policies

The Trustees manage the business of the charity as per Article 23 of the Articles of Association together with the Charity Director.

Policies adopted for the induction and training of Trustees

All Trustees are recruited based on the skills required and the needs of the charity at that point in time and future plans. We also try where possible to ensure a fair gender balance. All Trustees are asked to complete the appropriate checks in line with the Charity Commission guidelines. New Trustees will enjoy a full induction programme including time in the office with staff experiencing the organisation first hand and thereafter be assigned an area of responsibility depending on their expertise. All procedures are in line with the Charity Commission guidelines.

Financial risk management

The Trustees have assessed the major risks to which the charitable company is exposed, in particular those related to the operations and finances of the charitable company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Page 5

DocuSign Envelope ID: 7EB12531-65A8-44C4-86C8-449A898CAA51

THE CHRONICLE SUNSHINE FUND (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2020

Plans for future periods

FUTURE DEVELOPMENTS

Following a period of significant change during 2018/19, for 2019/20 we focussed on building income, strengthening relationships with key stakeholders, beneficiaries, intermediary groups and even within our own organisation. We strived to update the skill set on our board of trustees to reflect the areas of support we needed within the charity such as HR and Business Development. The decisions from two trustees to retire after many years of dedicated service to The Chronicle Sunshine Fund gave us the opportunity to conduct a trustee skills audit and recruit three new business professionals each highly accomplished in their field. We also recruited additional members to our Equipment Panel including a Speech and Language Therapist, to ensure we have a vast and varied skill set when assessing applications for the equipment we provide.

We continue to build upon corporate partnerships having made the decision to invest more dedicated resource here and have seen success with trust income due to re-evaluating our application and ask processes and reporting relating to trust income. We have now taken the decision to bring Trust Fundraising In house ensuring a more collaborative approach across the team, a more streamlined application process and an improved mechanism for reporting. We have also been able to make a significant saving by terminating our consultant contract in this area.

We are proud that the equipment we have provided to babies, children and young adults in a variety of settings continues to have life changing effects. Many items donated to schools and organisations also have a legacy effect as they are used for many years by different children who can benefit from them. We continue to work with beneficiaries to ensure our charity meets their needs and that they are the driving force behind any changes we seek to make in the future.

IMPACT OF COVID 19

From 17th March 2020, the charity has been operating remotely as our shared office space has been closed. We worked with the trustees to make impactful and significant change to our operations allowing us to make savings but continue to generate income. One of the measures taken was to utilise the Governments Job Retention Scheme from April onwards allowing several members of the team to be placed on furlough leave. The charity then used the scheme to claim 80% of the salary furlough staff members. Acting quickly in this period of uncertainty allowed us to benefit as much as possible at a time when income streams were declining and our traditional fundraising events and campaigns were being cancelled due to venues, social distancing and travel restrictions to name but a few examples.

COVID 19 has had a drastic effect on our ability to generate income which will reflect in our 2020/21 accounts. We have been forced to completely cancel a variety of fundraising initiatives and postpone many others. Many of our loyal corporate supporters, for example; those from the hospitality industry, are struggling financially, with several in real financial difficulties which will impact us in terms of sponsorship, donations and event attendance in the future. Our team are now working to strengthen existing relationships and develop new ones across sectors which have not been as effected by COVID 19. We also look to build upon Virtual Events and have experienced some success with on line fundraising events and an Urgent Appeal. Digital Fundraising continues to be an area of focus for us. As income generation within the charity sector continues to change, The Chronicle Sunshine Fund will adapt our events calendar for the year ahead to ensure money can be raised safety.

In January 2020 we launched a new outreach initiative to help us connect with some of the most disadvantaged local families who may need the support of the charity either immediately or in the future. This outreach focuses on collaboration with community groups such as Food Banks and family support groups. From January 2020 - March 2020 we saw an increase in applications for equipment, enquires to the charity for future equipment applications and advice. We hope to resume our outreach activities when the current health crisis comes to an end and restrictions are eased. Collaboration with other service providers and charities can make us eligible for joint and project funding in the future which is an avenue we continue to explore. We are also devising video content which we can use across social media and on our website to support families with the application process whilst face to face support isn't possible, and continue to help and engage with families through calls, email, on our own bespoke private social media pages and through online meeting platforms.

Page 6

DocuSign Envelope ID: 7EB12531-65A8-44C4-86C8-449A898CAA51

THE CHRONICLE SUNSHINE FUND (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2020

Plans for future periods (continued)

The current health crisis has meant applications to the Fund for specialist equipment for North East children with disabilities have increased. Our aim is to raise sufficient funds to ensure we can meet these requests even in these challenging times and continue our charitable mission. We are completely committed to this.

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the charitable company for the purposes of company law) 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).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company 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 charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company 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 8 January 2021 and signed on their behalf by:

Helen Dalby

Page 7

DocuSign Envelope ID: 7EB12531-65A8-44C4-86C8-449A898CAA51

THE CHRONICLE SUNSHINE FUND (A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 JUNE 2020

Independent examiner's report to the Trustees of The Chronicle Sunshine Fund ('the charitable company')

I report to the charity Trustees on my examination of the accounts of the charitable company for the year ended 30 June 2020.

Responsibilities and basis of report

As the Trustees of the charitable company (and its directors for the purposes of company law) 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 charitable 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 the charitable company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charitable company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I 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 confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. 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

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 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.

This report is made solely to the charitable company'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 charitable company'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 charitable company and the charitable company's Trustees as a body, for my work or for this report.

Signed: Dated: 8 January 2021 Detlev Anderson FCA

RYECROFT GLENTON Chartered Accountants 32 Portland Terrace Newcastle upon Tyne NE2 1QP

Page 8

DocuSign Envelope ID: 7EB12531-65A8-44C4-86C8-449A898CAA51

THE CHRONICLE SUNSHINE FUND

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2020

Note
Income from:
Donations and legacies:
3
Charitable trust and foundation
donations
General donations
. Other donations and legacies
Other trading activities
4
Other income
5
Total income
Expenditure on:
Raising funds:
6
Costs of generating voluntary income
Fundraising expenses and other costs
Charitable activities
7,8
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2020
£
24,460
-
-
-
-
24,460
-
-
24,460
24,460
-
-
-
-		 Unrestricted
funds
2020
£
77,260
4,213
10,465
217,801
4,925
314,664
24,429
116,192
177,671
318,292
(3,628)
84,161
(3,628)
80,533		 Total
funds
2020
£
101,720
4,213
10,465
217,801
4,925
339,124
24,429
116,192
202,131
342,752
(3,628)
84,161
(3,628)
80,533		 Total
funds
2019
£
111,958
1,630
15,711
251,397
-
380,696
46,106
160,044
152,138
358,288
22,408
61,753
22,408
84,161

Please note: Total expenditure figure of £342,752 includes an expense of £202,131 for charitable activities. Income includes £139,018 which is the amount that has been spent on specialist equipment for children with disabilities and life limiting illnesses and support costs of £63,113 which is shown in note 9 to the accounts. Note 7 then shows the breakdown of charitable activities between individuals and organisations.

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 11 to 20 form part of these financial statements.

Page 9

DocuSign Envelope ID: 7EB12531-65A8-44C4-86C8-449A898CAA51

THE CHRONICLE SUNSHINE FUND (A company limited by guarantee) REGISTERED NUMBER: 07035903

BALANCE SHEET AS AT 30 JUNE 2020

Note
Current assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within one
year
15
Net current assets
Total net assets
Charity funds
Restricted funds
17
Unrestricted funds
17
Total funds		 6,158
79,446
85,604
(5,071)		 2020
£
80,533
80,533
-
80,533
80,533		 14,188
80,741
94,929
(10,768)		 2019
£
84,161
84,161
-
84,161
84,161

The charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees on 08 January 2021 and signed on their behalf by:

Ms H Dalby

The notes on pages 11 to 20 form part of these financial statements.

Page 10

DocuSign Envelope ID: 7EB12531-65A8-44C4-86C8-449A898CAA51

THE CHRONICLE SUNSHINE FUND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020

1. General information

The Chronicle Sunshine Fund is registered as a charitable company limited by guarantee (Company number 07035903 and charity number 1133293) and was set up by a Memorandum of Association on 1 October 2009 which has been updated in December 2013.

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 Companies Act 2006.

The Chronicle Sunshine Fund 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 Going concern

The Trustees have considered the likely effects of the pandemic on the Company's financial position and future prospects, see future developments section of trustees' report for full details. After making appropriate enquiries, the Trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

2.3 Income

All income is recognised once the charitable company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the charitable company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the charitable company, can be reliably measured.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

2.4 Expenditure

Page 11

DocuSign Envelope ID: 7EB12531-65A8-44C4-86C8-449A898CAA51

THE CHRONICLE SUNSHINE FUND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020

2. Accounting policies (continued)

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 charitable company to raise funds for its charitable purposes and includes costs of all fundraising activities events and noncharitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charitable company's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

2.5 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.

2.6 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.

2.7 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.

2.8 Financial instruments

The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.9 Pensions

The charitable company contributes to a personal pension plan on behalf of employees and the pension charge represents the amounts payable by the charitable company to the plan during the period.

Page 12

DocuSign Envelope ID: 7EB12531-65A8-44C4-86C8-449A898CAA51

THE CHRONICLE SUNSHINE FUND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020

2. Accounting policies (continued)

2.10 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 charitable company 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 charitable company 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
Charitable trust and foundation donations
General donations
Total donations
Legacies
Community Foundation endowment dividends
grants
Total 2019		 Restricted
funds
2020
Unrestricted
funds
2020
£
£
24,460
77,260
-
4,213
24,460
81,473
-
-
-
10,465
24,460
91,938
60,838
68,461		 Total
funds
2020
£
101,720
4,213
105,933
-
10,465
116,398
129,299		 Total
funds
2019
£
111,958
1,630
113,588
5,010
10,701
129,299

Page 13

DocuSign Envelope ID: 7EB12531-65A8-44C4-86C8-449A898CAA51

THE CHRONICLE SUNSHINE FUND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020

4. Activities for generating funds

Income from fundraising events

Unrestricted
funds
2020
£
Events
81,085
Corporate fundraising
20,051
Community fundraising
91,838
Appeals
24,827
217,801
Total 2019
251,397
Other incoming resources
Unrestricted
funds
2020
£
HMRC refund
4,925		 Total
funds
2020
£
81,085
20,051
91,838
24,827
217,801
251,397
Total
funds
2020
£
4,925		 Total
funds
2019
£
92,801
32,502
74,185
51,909
251,397
Total
funds
2019
£
-

5. Other incoming resources

Page 14

DocuSign Envelope ID: 7EB12531-65A8-44C4-86C8-449A898CAA51

THE CHRONICLE SUNSHINE FUND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020

6. Expenditure on raising funds

Costs of raising voluntary income

Unrestricted
funds
2020
£
Insurance
270
Printing, postage and stationery
27
Consultancy fees
14,109
Legal and professional
101
Memberships
45
Bank charges
122
Sundries
122
Staff travel and subsistence, meeting costs
53
Costs of raising voluntary income - wages and salaries
9,580
24,429
Total 2019
46,106
Fundraising trading expenses
Unrestricted
funds
2020
£
Events direct costs
58,143
Support costs - Fundraising
58,049
116,192
Total 2019
160,044		 Total
funds
2020
£
270
27
14,109
101
45
122
122
53
9,580
24,429
46,106
Total
funds
2020
£
58,143
58,049
116,192
160,044		 Total
funds
2019
£
464
63
27,850
120
79
368
297
145
16,720
46,106
Total
funds
2019
£
87,969
72,075
160,044

Page 15

DocuSign Envelope ID: 7EB12531-65A8-44C4-86C8-449A898CAA51

THE CHRONICLE SUNSHINE FUND

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020

7. Provision of specialist equipment

Provision of specialist equipment
Total 2019		 Institutions
2020
£
6,261
2,497		 Individuals
2020
£
132,757
91,205		 Total
funds
2020
£
139,018
93,702		 Total
funds
2019
£
93,702

87 individual children and 2 organisations, Beacon Hill School and Atkinson Road Primary School, that support over 300 children have benefited from our work in 2019/20.

8. Analysis of expenditure on charitable activities

Summary by fund type

Grant giving
Total 2019		 Restricted
funds
2020
Unrestricted
funds
2020
£
£
24,460
177,671
60,838
91,300		 Total
funds
2020
£
202,131
152,138		 Total
funds
2019
£
152,138

9. Analysis of expenditure by activities

Direct costs - Grant giving
Total 2019		 Grant
funding of
activities
2020
£
139,018
93,702		 Support
costs
2020
£
63,113
58,436		 Total
funds
2020
£
202,131
152,138		 Total
funds
2019
£
152,138

Page 16

DocuSign Envelope ID: 7EB12531-65A8-44C4-86C8-449A898CAA51

THE CHRONICLE SUNSHINE FUND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020

9. Analysis of expenditure by activities (continued)

Analysis of support costs

Direct costs
- Grant
giving
2020
£
Staff costs
56,280
Insurance
1,585
Printing, postage and stationery
158
Legal and professional
595
Subscriptions
264
Bank charges
719
Sundries
718
Staff travel & subsistence, meeting costs
310
Independent examination fee
2,484
Total 2020
63,113
Total 2019
58,436
10.
Independent examiner's remuneration
Fees payable to the charitable company's independent examiner for the
preparation and independent examination of the charitable company's
annual accounts
11.
Staff costs
Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 Total
funds
2020
£
56,280
1,585
158
595
264
719
718
310
2,484
63,113
58,436
2020
£
2,484
2020
£
106,642
8,401
4,702
119,745		 Total
funds
2019
£
50,911
1,424
195
370
241
1,130
912
889
2,364
58,436
2019
£
2,364
2019
£
105,086
9,648
4,252
118,986

Page 17

DocuSign Envelope ID: 7EB12531-65A8-44C4-86C8-449A898CAA51

THE CHRONICLE SUNSHINE FUND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020

11. Staff costs (continued)

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

2020 2019
No. No.
5 5

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

The Trustees consider key management personnel to be the Trustees and Senior Management of the Charity. Remuneration and benefits received by the Senior Management (as distinct from Trustees who are volunteers), including employers National Insurance and Pension Contributions amounted to £51,814 for the year (2019: £57,695).

12. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2019 - £NIL) .

During the year ended 30 June 2020, no Trustee expenses have been incurred (2019 - £NIL) .

13. Related party transactions

There were no related party transactions during the year.

14. Debtors

Due within one year
Trade debtors
Prepayments and accrued income		 2020
£
650
5,508
6,158		 2019
£
10,440
3,748
14,188

Page 18

DocuSign Envelope ID: 7EB12531-65A8-44C4-86C8-449A898CAA51

THE CHRONICLE SUNSHINE FUND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020

15. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income		 2020
£
-
873
910
3,288
5,071		 2019
£
38
2,761
690
7,279
10,768

16. Financial instruments

2020 2019
£ £
Financial assets
Financial assets measured at fair value through income and expenditure 79,446 80,741

Financial assets measured at fair value through income and expenditure comprises cash at bank.

17. Statement of funds

Statement of funds - current year

Unrestricted funds
General Funds
Restricted funds
Restricted Fund
Total of funds		 Balance at 1
July 2019
£
84,161
-
84,161		 Income
£
314,664
24,460
339,124		 Expenditure
£
(318,292)
(24,460)
(342,752)		 Balance at
30 June
2020
£
80,533
-
80,533

Page 19

DocuSign Envelope ID: 7EB12531-65A8-44C4-86C8-449A898CAA51

THE CHRONICLE SUNSHINE FUND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020

17. Statement of funds (continued)

Statement of funds - prior year

Balance at
1 July 2018
£
Unrestricted funds
General Funds
61,753
Restricted funds
Restricted Fund
-
Total of funds
61,753
18.
Analysis of net assets between funds
Analysis of net assets between funds - current period
Current assets
Creditors due within one year
Total
Analysis of net assets between funds - prior period
Current assets
Creditors due within one year
Total		 Income
£
Expenditure
£
319,858
(297,450)
60,838
(60,838)
380,696
(358,288)
Unrestricted
funds
2020
£
85,604
(5,071)
80,533
Unrestricted
funds
2019
£
94,929
(10,768)
84,161		 Balance at
30 June
2019
£
84,161
-
84,161
Total
funds
2020
£
85,604
(5,071)
80,533
Total
funds
2019
£
94,929
(10,768)
84,161

Page 20