Docusign Envelope ID: CB5B1207-52EC-807A-8273-061310AF5A42
**Charity registration number 1133293 (England and Wales) Company registration number 07035903**
## **THE CHRONICLE SUNSHINE FUND**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025**
Docusign Envelope ID: CB5B1207-52EC-807A-8273-061310AF5A42
## **THE CHRONICLE SUNSHINE FUND**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Mrs H Dalby|
|---|---|
||Mrs A V Whyte|
||Mr C Whittington|
||Mrs M Pavlou|
||Ms L A Thomson|
||Mr S Brown|
||Mr S E N Leonhardsen|
||Mr R Jensen|
||Dr C Grayson|
||Mr G Whitfield|
||Mrs C K Kears|
||Mr J S Waters|
|**Secretary**|Mr J S Waters|
|**Charity number**|1133293|
|**Company number**|07035903|
|**Registered office**|Reach PLC|
||2nd Floor Eldon Court|
||Eldon Square Percy Street|
||Newcastle upon Tyne|
||NE1 7JB|
|**Independent examiner**|Simon Brown BA ACA DChA|
||Azets Audit Services|
||Bulman House|
||Regent Centre|
||Gosforth|
||Newcastle Upon Tyne|
||NE3 3LS|
|**Bankers**|HSBC|
||Grey Street|
||110 Grey Street|
||Newcastle upon Tyne|
||NE1 6JG|
|**Solicitors**|Hay & Kilner|
||The Lumen|
||St James' Boulevard|
||Newcastle Helix|
||Newcastle upon Tyne|
||NE4 5BZ|
Docusign Envelope ID: CB5B1207-52EC-807A-8273-061310AF5A42
## **THE CHRONICLE SUNSHINE FUND**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 5|
|Independent examiner's report|6|
|Statement of financial activities|7|
|Statement of financial position|8|
|Notes to the financial statements|9 - 18|
Docusign Envelope ID: CB5B1207-52EC-807A-8273-061310AF5A42
## **THE CHRONICLE SUNSHINE FUND**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE PERIOD ENDED 31 DECEMBER 2025**_
The trustees present their annual report and financial statements for the period ended 31 December 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's memorandum and articles of association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
## **Objectives and activities**
The Charity's objectives 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 but not limited to:
a) provision of funds or paying for specialist equipment items for beneficiaries where they, or those with responsibility for them could not otherwise afford those items and where those items are not provided by the NHS, local authorities or similar service;
b) providing recreational and leisure time activities in the interest of social welfare with a view to improve their conditions of life; and
c) providing support and activities which develop their skills, capabilities to enable them to participate in society as mature and responsible individuals.
Making amendments and expansions of our Memorandum and Articles, which we agreed upon by The Charity Commission, allowed us to extend our services beyond equipment provision. As a result of this new addition to our existing charitable purposes, we have amended our Memorandum of Articles in conjunction with Hay and Kilner Law, allowing us to provide whole family, parent and carer and individual support such as pre counselling and befriending services, a families helpline and a series of educational video tutorials. This is an area of growth for us in the future as we continue to add more services which our beneficiaries need.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Activities for achieving 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:
- Hosting fundraising events;
- Supporting third party events;
- Applying to Trusts and Foundations;
- Fundraising activities including generating income through, community, legacies and corporate streams;
- Annual appeals
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Docusign Envelope ID: CB5B1207-52EC-807A-8273-061310AF5A42
## **THE CHRONICLE SUNSHINE FUND**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE PERIOD ENDED 31 DECEMBER 2025**_
## **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 application for support 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. The application is then assessed by our equipment panel on a quarterly basis. The equipment panel is made up of some of the trustees together with experienced health and social care professionals with expertise in children's and young people's health and wellbeing.
If successful, the 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 which has applied.
## **Fundraising disclosures**
The charity is required to report how it deals with fundraising from the public. The charity does not use a contracted third party professional fundraiser or commercial participator to raise funds. Any monies raised directly from the public follows all guidelines set out by the Charity Commission and UK law in every respect. We respect the privacy and contact preferences of all public donors.
## **Public benefit**
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Achievements and performance**
## **Review of activities**
The following is a summary of The Chronicle Sunshine Fund’s key achievements, impact and delivery against strategic objectives for this financial period. During this period, we have continued to meet increased demand for equipment provision within our target timescale despite the challenges we have faced with income generation. We are extremely proud of this.
## **Operational Context**
During the 2024-2025 period, the charity operated within an increasingly challenging landscape characterised by:
- Reduced Statutory Funding: A 27.3% average reduction in equipment budgets in the North East, leading to significant delays or denials of essential equipment from statutory services.
- Financial Pressures on Families: Families with disabled children in the region face intense financial strain, often spending an extra £322 per month on disability-related costs.
## **Operational Impact**
During the reporting period, the charity provided support across the North East against the backdrop of these significant regional challenges, including high levels of child poverty and reported significant impact through equipment provision and community building. Key metrics include:
- Equipment: Over £175,000 was spent directly on specialist equipment to meet the charity's core purpose.
- Direct Beneficiaries: Support was provided to 568 direct beneficiaries. The charity supported 142 applications from individuals and organisations,
- Community Engagement: The charity delivered 46 free, inclusive events and sessions, reaching 4,025 attendees to reduce social isolation and enrich lives.
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Docusign Envelope ID: CB5B1207-52EC-807A-8273-061310AF5A42
## **THE CHRONICLE SUNSHINE FUND**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE PERIOD ENDED 31 DECEMBER 2025**_
## **Financial Period Extension and Governance**
- Reporting Period Change: These financial statements cover an extended period ending December 31, 2025.
- Leadership Transition and Enhanced Reporting: The charity continued to develop its strategy, streamline and improve financial reporting and operating procedures throughout this period, following the appointment of David Wilson as Head of Charity in May 2024. Under David's leadership, the charity has remodelled its financial management to clearly delineate between restricted income (both equipment and operational) and unrestricted income.
- Strategic Planning: David and the board are developing a five-year strategy to guide the charity through its centenary and beyond to 2030.
## **Key Highlights and Achievements**
- Core Purpose Delivery: Despite team changes and staffing reductions, the charity met all demand for approved specialist equipment for children and young people with disabilities and life-limiting illnesses in the North East.
- Successful events: Our portfolio of events continues to be centrally important to our fundraising. Profitable fundraising events included the Sunshine Run, Great North Run and Mini/Junior Great North Stagecoach, which also featured an accessible city centre Santa Grotto Bus.
- National Lottery Funding: The charity received continued funding from the National Lottery's Reaching Communities fund to support projects focused on family advocacy and community connection.
- Endowment Support: To address financial challenges caused by rising demand for equipment and the costof-living crisis, the charity successfully applied for a second withdrawal from its endowment funds to support core costs and restructuring.
## **Financial review**
## **Going concern**
After making appropriate enquiries, the trustees believe 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 has a reserve policy to maintain free reserves of three months unrestricted running costs. The definition of free reserves accords with the Charity Commission, which are unrestricted reserves excluding those designated and tied up in fixed assets.
Based on a typical year, the core operational costs of The Chronicle Sunshine Fund run between £150,000 and £200,000 per annum. This would equate to holding free reserves of between £37,500 and £50,000.
At the year end the charity had free reserves of £41,505 (2024: £52,102 ) which is within the desired range. However, the charity is keen to continue to focus on stabilising its reserves to strengthen their long-term financial position.
## **Future Focus**
Priorities for the coming year include increasing equipment provision through sustainable income streams and establishing a restricted fund to reduce waiting times, and delivering at least 12 inclusive family events.
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Docusign Envelope ID: CB5B1207-52EC-807A-8273-061310AF5A42
## **THE CHRONICLE SUNSHINE FUND**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE PERIOD ENDED 31 DECEMBER 2025**_
## **Plans for future periods**
## **Future Development and priorities**
The Chronicle Sunshine Fund has experienced a significant rise in demand for equipment and enquiries for future equipment applications, as the North East battles a cost of living crisis with severe impact on the provision of NHS services.
The charity has set clear objectives for the upcoming year to meet rising demand.
- Establish a £240,000 restricted fund to improve equipment access and reduce waiting times.
- Aim to directly benefit up to 650 children with specialist equipment.
- Implement a digital application system to enhance accessibility and processing speed.
- Deliver at least 12 inclusive family events shaped by lived experience.
## **Chronicle Support**
The Chronicle provides a wide range of practical and in-kind support equating to significant financial value to The Chronicle Sunshine Fund, including 24/7 accessible city centre office space and the use of facilities and utilities; trained journalist photography/videography resource at events; and PR support on the ChronicleLive website and in The Chronicle, Journal and Sunday Sun newspapers. The exposure to local audiences raises awareness of the charity and helps promote events, generate income and share stories of the families supported, such as via the 12 Days of Sunshine Christmas appeal which appeared in print daily during December 2025. The Chronicle's editor-inchief is chair of Trustees.
## **Structure, governance and management**
The charity 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 February 2021.
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.
The trustees, who are also the directors for the purpose of company law, and who served during the period and up to the date of signature of the financial statements were:
Mrs H Dalby Mrs A V Whyte Mr C Whittington Mrs M Pavlou Ms L A Thomson Mr S Brown Mr S E N Leonhardsen Mr R Jensen Dr C Grayson Mr G Whitfield Mrs C K Kears Mr J S Waters
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.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
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Docusign Envelope ID: CB5B1207-52EC-807A-8273-061310AF5A42
## **THE CHRONICLE SUNSHINE FUND**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE PERIOD ENDED 31 DECEMBER 2025**_
## **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.
The Trustees manage the business of the charity as per Article 23 of the Articles of Association together with the Charity Director
## **Statement of trustees' responsibilities**
The trustees, who are also the directors of The Chronicle Sunshine Fund for the purpose 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).
## **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 our exposure to the major risks. Trustee meetings take place face-to-face quarterly using The Chronicle office, and a finance subcommittee meets quarterly in advance of these meetings to carry out the required scrutiny of cash flow and income and provide trustees with status reports.
The trustees' report was approved by the Board of Trustees.
.............................. Mrs H Dalby
## **trustee**
17 August 2026 Date: .............................................
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Docusign Envelope ID: CB5B1207-52EC-807A-8273-061310AF5A42
## **THE CHRONICLE SUNSHINE FUND**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CHRONICLE SUNSHINE FUND**
I report to the trustees on my examination of the financial statements of The Chronicle Sunshine Fund (the charity) for the period ended 31 December 2025.
## **Responsibilities and basis of report**
As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **Independent examiner's statement**
Since the charity’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 ICAEW, 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 that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
- 4 the financial statements 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 financial statements 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 financial statements to be reached.
## **Simon Brown BA ACA DChA**
Azets Audit Services Bulman House Regent Centre Gosforth Newcastle Upon Tyne NE3 3LS
17 August 2026 Date: ............................
- 6 -
Docusign Envelope ID: CB5B1207-52EC-807A-8273-061310AF5A42
## **THE CHRONICLE SUNSHINE FUND**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE PERIOD ENDED 31 DECEMBER 2025**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2025**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
65,354
170,276
Other trading activities
**4**
191,851
-
**Total income**
257,205
170,276
**Expenditure on:**
Charitable activities
Raising funds
**5**
177,666
-
Charitable activities
**5**
53,989
258,559
**Total expenditure**
231,655
258,559
**Net income/(expenditure)**
25,550
(88,283)
Transfers between
funds
(36,147)
36,147
**Net movement in**
**funds**
**7**
(10,597)
(52,136)
**Reconciliation of funds:**
Fund balances at 1 July 2024
52,102
96,057
**Fund balances at 31**
**December 2025**
41,505
43,921|**Total**
**Unrestricted**
**Restricted**
**31 Dec**
**funds**
**funds**
**2025**
**2024**
**2024**
**£**
**£**
**£**
235,630
108,780
176,334
191,851
113,022
-
427,481
221,802
176,334
177,666
169,031
-
312,548
40,428
110,355
490,214
209,459
110,355
(62,733)
12,343
65,979
-
-
-
(62,733)
12,343
65,979
148,159
39,759
30,078
85,426
52,102
96,057|**Total**
**30 Jun**
**2024**
**£**
285,114
113,022|
|---|---|---|
|||398,136|
|||169,031
150,783|
|||319,814|
|||78,322
-|
|||78,322
69,837|
|||148,159|
The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derive from continuing activities.
- 7 -
Docusign Envelope ID: CB5B1207-52EC-807A-8273-061310AF5A42
## **THE CHRONICLE SUNSHINE FUND**
## **STATEMENT OF FINANCIAL POSITION**
## _**AS AT 31 DECEMBER 2025**_
|**Notes**
**Current assets**
Debtors
**12**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**13**
**Net current assets**
**The funds of the charity**
Restricted income funds
**15**
Unrestricted funds
**16**|**2025**
**£**
5,380
91,332
96,712
(11,286)|**£**
85,426
43,921
41,505
85,426|**2024**
**£**
6,785
152,946
159,731
(11,572)|**£**
148,159|
|---|---|---|---|---|
|||||96,057
52,102|
|||||148,159|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the period ended 31 December 2025.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
17 August 2026
The financial statements were approved by the trustees on .........................
..............................
Mrs H Dalby **trustee**
Company registration number 07035903 (England and Wales)
- 8 -
Docusign Envelope ID: CB5B1207-52EC-807A-8273-061310AF5A42
## **THE CHRONICLE SUNSHINE FUND**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE PERIOD ENDED 31 DECEMBER 2025**_
## **1 Accounting policies**
## **Charity information**
The Chronicle Sunshine Fund is a private company limited by guarantee incorporated in England and Wales. The registered office is Reach PLC, 2nd Floor Eldon Court, Eldon Square Percy Street, Newcastle upon Tyne, NE1 7JB.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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Docusign Envelope ID: CB5B1207-52EC-807A-8273-061310AF5A42
## **THE CHRONICLE SUNSHINE FUND**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE PERIOD ENDED 31 DECEMBER 2025**_
## **1 Accounting policies**
**(Continued)**
## **1.5 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 are allocated on the portion of the asset’s use.
Raising funds costs are incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Governance costs include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.
## **1.6 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.7 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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Docusign Envelope ID: CB5B1207-52EC-807A-8273-061310AF5A42
## **THE CHRONICLE SUNSHINE FUND**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE PERIOD ENDED 31 DECEMBER 2025**_
## **1 Accounting policies**
## **(Continued)**
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.8 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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Docusign Envelope ID: CB5B1207-52EC-807A-8273-061310AF5A42
## **THE CHRONICLE SUNSHINE FUND**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE PERIOD ENDED 31 DECEMBER 2025**_
## **3 Donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2025**
**£**
**£**
Donations and gifts
14,207
170,276
Community Foundation endowment grant and dividends
51,147
-
65,354
170,276|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2024**
**2024**
**£**
**£**
**£**
184,483
3,412
176,334
51,147
105,368
-
235,630
108,780
176,334|**Total**
**2024**
**£**
179,746
105,368|
|---|---|---|
|||285,114|
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Docusign Envelope ID: CB5B1207-52EC-807A-8273-061310AF5A42
## **THE CHRONICLE SUNSHINE FUND**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE PERIOD ENDED 31 DECEMBER 2025**_
## **4 Income from fundraising events**
## **5**
|||||**Unrestricted**|**Restricted**|**Total **|**Unrestricted**|
|---|---|---|---|---|---|---|---|
|||||**funds**|**funds**||**funds**|
|||||**2025**|**2025**|**2025**|**2024**|
|||||**£**|**£**|**£**|**£**|
|Appeals||||12,797|-|12,797|13,380|
|Community fundraising||||91,843|-|91,843|141,999|
|Lotteries and competitions income||||1,728|-|1,728|1,872|
|Corporate fundraising||||6,654|-|6,654|49,597|
|Income from fundraising events||||191,851|-|191,851|113,022|
||**Raising**||**Charitable**|**Total**|**Raising**|**Charitable**|
**Total**|
|||**funds**|**activities**|**2025**|**funds**|**activities**|**2024**|
|||**2025**|**2025**||**2024**|**2024**||
|||**£**|**£**|**£**|**£**|**£**|**£**|
|Wages and salaries|16,845||75,642|92,487|51,390|-|51,390|
|Events direct costs|60,608||-|60,608|34,346|-|34,346|
|Insurance||1,084|-|1,084|153|-|153|
|Trade subscriptions||766|-|766|303|-|303|
|Travel and subsistence||644|-|644|-|-|-|
|Bank charges||55|-|55|55|-|55|
|Printing, postage and||||||||
|stationery||2,571|-|2,571|1,559|-|1,559|
|Accountancy||2,000|-|2,000|-|-|-|
|Grant funding of||||||||
|activities||270|182,917|183,187|1,506|110,355|111,861|
|Events costs||305|-|305|-|-|-|
||85,148||258,559|343,707|89,312|110,355|199,667|
|Share of support costs||||||||
|(see note 6)|92,518||-|92,518|79,719|-|79,719|
|Share of governance||||||||
|costs (see note 6)||-|53,989|53,989|-|40,428|40,428|
||177,666||312,548|490,214|169,031|150,783|319,814|
|**Analysis by fund**||||||||
|Unrestricted funds|177,666||53,989|231,655|169,031|40,428|209,459|
|Restricted funds||-|258,559|258,559|-|110,355|110,355|
||177,666||312,548|490,214|169,031|150,783|319,814|
- 13 -
Docusign Envelope ID: CB5B1207-52EC-807A-8273-061310AF5A42
## **THE CHRONICLE SUNSHINE FUND**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE PERIOD ENDED 31 DECEMBER 2025**_
|**6**
**Support costs**
**Support**
**costs**
**Governance**
**costs**
**2025**
**£**
**£**
**£**
Wages and salaries
90,372
38,919
129,291
Insurance
208
1,220
1,428
Trade subscriptions
570
3,344
3,914
Travel and subsistence
386
1,546
1,932
Bank charges
10
57
67
Printing, postage and
stationery
457
2,690
3,147
Legal and professional
fees
48
652
700
Licences
467
161
628
Accountancy and
independent examination
fees
-
5,400
5,400
92,518
53,989
146,507
Analysed between
Charitable activities
92,518
53,989
146,507
**7**
**Net movement in funds**
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements
**8**
**Independent examiner's remuneration**
**Fees payable to the charity's auditor and associates:**
Examination of the financial statements|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
78,760
27,159
29
171
225
1,323
152
891
10
58
277
1,631
266
3,641
-
-
-
5,554
79,719
40,428
79,719
40,428
**2025**
**£**
5,400
**2025**
**£**
5,400|**2024**
**£**
105,919
200
1,548
1,043
68
1,908
3,907
-
5,554|
|---|---|---|
|||120,147|
|||120,147|
|||**2024**
**£**
4,200|
|||**2024**
**£**
4,200|
## **9 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the period.
- 14 -
Docusign Envelope ID: CB5B1207-52EC-807A-8273-061310AF5A42
## **THE CHRONICLE SUNSHINE FUND**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE PERIOD ENDED 31 DECEMBER 2025**_
## **10 Employees**
The average monthly number of employees during the period was:
|**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2025**
**Number**
5
**2025**
**£**
193,195
20,307
8,277
221,778|**2024**
**Number**
6|
|---|---|---|
|||**2024**
**£**
146,980
4,450
5,879|
|||157,309|
The Trustees consider key management personnel to be the Trustees and Senior Management of the charity.
The total employee benefits of the key management personnel (as distinct from Trustees who are volunteers) of the charity for the 18 month period were £78,416 [ 2024 - £51,082 (12 months) ].
There were no employees whose annual remuneration was more than £60,000.
## **11 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **12 Debtors**
|**Amounts falling due within one year:**
Trade debtors
Prepayments and accrued income|**2025**
**£**
4,736
644
5,380|**2024**
**£**
2,870
3,915|
|---|---|---|
|||6,785|
## **13 Creditors: amounts falling due within one year**
|**Notes**
Other taxation and social security
Deferred income
**14**
Other creditors
Accruals|**2025**
**£**
2,876
3,360
10
5,040
11,286|**2024**
**£**
2,872
4,500
-
4,200|
|---|---|---|
|||11,572|
- 15 -
Docusign Envelope ID: CB5B1207-52EC-807A-8273-061310AF5A42
## **THE CHRONICLE SUNSHINE FUND**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE PERIOD ENDED 31 DECEMBER 2025**_
## **14 Deferred income**
|Other deferred income
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Movements in the period:
Deferred income at 1 July 2024
Released from previous periods
Resources deferred in the period
Deferred income at 31 December 2025|**2025**
**£**
3,360
**2025**
**£**
3,360
4,500
(4,500)
3,360
3,360|**2024**
**£**
4,500
**2024**
**£**
4,500
20,002
-
(15,502)
4,500|
|---|---|---|
## **15 Restricted funds**
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
||**At**|**1**|**July 2024**|**Incoming**|**Resources**|**Transfers**|**At 31**|
|---|---|---|---|---|---|---|---|
|||||**resources**|**expended**||**December**|
||||||||**2025**|
||||**£**|**£**|**£**|**£**|**£**|
|Restricted funds|||96,057|170,276|(258,559)|36,147|43,921|
|**Previous year:**|**At**|**1**|**July 2023**|**Incoming**|**Resources**|**Transfers**|**At 30 June**|
|||||**resources**|**expended**||**2024**|
||||**£**|**£**|**£**|**£**|**£**|
|Restricted funds|||30,078|176,334|(110,355)|-|96,057|
The specific for which the funds are to be applied are as follows:
Restricted funds have been received by the Charity from funders for ICT equipment, trikes and bikes and other equipment.
In the year there was a transfer of unrestricted funds to restricted funds. This was in relation to unrestricted expenditure used on restricted funding activities.
- 16 -
Docusign Envelope ID: CB5B1207-52EC-807A-8273-061310AF5A42
## **THE CHRONICLE SUNSHINE FUND**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE PERIOD ENDED 31 DECEMBER 2025**_
## **16 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At 1 July 2024**|**Incoming**|**Resources**|**Transfers**|**At 31**|
|---|---|---|---|---|---|
|||**resources**|**expended**||**December**|
||||||**2025**|
||**£**|**£**|**£**|**£**|**£**|
|General funds|52,102|257,205|(231,655)|(36,147)|41,505|
|**Previous year:**|**At 1 July 2023**|**Incoming**|**Resources**|**Transfers**|**At 30 June**|
|||**resources**|**expended**||**2024**|
||**£**|**£**|**£**|**£**|**£**|
|General funds|39,759|221,802|(209,459)|-|52,102|
In the year there was a transfer of unrestricted funds to restricted funds. This was in relation to unrestricted expenditure used on restricted funding activities.
## **17 Analysis of net assets between funds**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2025**
**£**
**£**
**At 31 December 2025:**
Current assets/(liabilities)
41,505
43,921
41,505
43,921
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
**At 30 June 2024:**
Current assets/(liabilities)
52,102
96,057
52,102
96,057|**Total**
**2025**
**£**
85,426|
|---|---|
||85,426|
||**Total**
**2024**
**£**
148,159|
||148,159|
## **18 Financial commitments, guarantees and contingent liabilities**
## **Defined contribution pension scheme**
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £8,277 (2024: £5,879 ).
- 17 -
Docusign Envelope ID: CB5B1207-52EC-807A-8273-061310AF5A42
# **THE CHRONICLE SUNSHINE FUND**
# **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE PERIOD ENDED 31 DECEMBER 2025**_
## **19 Related party transactions**
## **Transactions with related parties**
During the period the charity had no transactions with related parties.
- 18 -