Registered number: 07180685 Charity number: 1136050 THE 24x7 SPECIAL NEEDS HOLIDAY TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THE 24x7 SPECIAL NEEDS HOLIDAY TRUST {A COMPANY LIMITED BY GUARANTEEI CONTENTS Page Reference and Administrative Details of the Charity, its Trustees and Advisers Trustees. Report Independent Examiner's Report Statement of Flnanclal Actlvltles Balance Shèat Notes to the Financial Statem6nts 7-12
THE 24x7 SPECIAL NEEDS HOLIDAY TRUST IA COMPANY LIMITED BY GUARANTEEI REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, Irs TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees MrA T Mahoney. Chair Mr A A Mahoney Mrs A Courtney Mr S C Saunders Mr C Wrighl Company number 07180685 Charlty number 1136050 Reglstered offlce Little Easlon Manor Park Road Little Easton Dunmow Essex CM6 2JN Company secretary Mr C Wadham-smilh Independent examlners MHA Chartered A¢countanls Century Houso The Lakes Northampton NN4 7HD Page 1
THE 24x7 SPECIAL NEEDS HOLIDAY TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees (who are also Diieclors of the company for the purposes of the Companies Act) present their Annu21 Report together wilh the financial statements of the 24x7 Special Needs Holiday Trust (the Charity) for the year ended 31 March 2024. The Trustees confirm that the Annual Report and financial statements of the Charitable Company comply with the current statutory requirements. The term Director and Trustee are interch8ngeable in this Report. The financial statements comply with the Charities Act 2011. the Companies Act 2006. the Memorandum and Articles of Association, and Accounting and Reporting by Charities.. Stalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 102) (effective 1 October 2019}. Objectives and Activities Policies and objectives The principal objeclive of Ihe Charitable Company is to provide holiday facilities for people with special needs and their families. In setting objectives and planning for activities. the Trustees have gwen due consideration lo general gLJidance published by the Charities Commission relabng to public benefit. The main activity undertaken by the Charilable Company is to raise money to enable people with special needs lo be able lo experience a holiday abroad Ihal they would not nomially be able to have. Activities for achieving objectives Followin9 the appointment of our palron Graham Robert5 in 2015. a programme of annual evenls has been established lo achieve our fundraising goals. During the current year. the events held was a golf day and a Gala dinner which had been moved from the previous financial year. Charitles fundraising statement Fundraising statement Section 162a of the Charities Act 2011 reouires charrlies to make a statement regarding fundraising activities. Although we do not undertake widespread fundraising froTn the general public. the legislation defines fundraising as "soliciting or olherwise procuring money or other property for charitable purposes". Such amounts receivable is presented in our accounts a5 "Donations and legacies" and are all voluntary in nature. In relation lo the above we confirm that all solicilations are managed internally. without involvemenl of commercial participators or professional fLndraisers. or third partie5. Although the Charily is nol required lo be bound by any regulatory scheme, Ihe Charity complies with the relevant codes of practice. We have received no complaints in relation to fundraising activities12023 none). Achievements and perfom)an¢e The main achievement of the Charitable Company during the year was enabling children. adults. faniilies and schools lo have a holiday that they would not nomialty be able to have in a safe and secure environment. Page 2
THE 24x7 SPECIAL NEEDS HOLIDAY TRUST IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT {conlinued) FOR THE YEAR ENDED 31 MARCH 2024 Financial review The Charitable Company ha5 continued to increase the funds raised. helping the Charitable company lo achieve its objective5. The current fund levels at the yearend are a deficit £31.513 {2023 - deficit of £22.7381. The deficit is due to an increase of grants being issued in the year. The Directors have additionally assured that 24x7 Ltd, a company with common Directors. will continue to support the charity where required. Reserves policy and going concern There is Current no requirement for Ihe Charitable Company to hold a sel level of SeNe$ and funds will be used when $sible. The Trustees will review the reserves policy when Ihe activity of Ihe Charily increases. The Charity bèlieves from reviewin9 forecasts thal il has sufficient funds to be a going concern. The Charily is Gonlident that in the year 202412025 fund raising events will be held and will resloro any loss funds. Structure. governance and management Constitution The Charity is registered as a Company limited by guarantee 3nd was set up and is constituted by a Memorandum of Association dated 22 February 2010. 11 is registered in the United Kingdom (Co. Number 071806851. It is registered with the Charities Commission under the Charities Act 2011 (Charity Number 11360501. The principal object of the Charitable Company is to provide holiday facilities for people wilh special needs and their families. Method of appointment or election of Trustees The m2na9ement of the Charitablè Company is the responsibility ol the Truslees who are elected and co-ople under the terms of the Articles of Association. Risk management The Truslees have examined the major stralegic business and operalional risks which the Charitable Company faces and confirm that systems have been eslablished lo enable regLJlar reports lo be produced so that the necessary steps can be taken to lessen these risks. Future plans To continue lo raise funds to enable children. adults. families and schools lo experience a holiday abroad that they would not normally be able to. This report, which has been prepared in accordance with the special provisions relating to companies subject to the small cornpanies regime within Part 15 of the Companies Act 2006. 21 January 2025 This report was approved by the Trustees, on and signed on Iheir behalf by= MrA T Mahoney Trustee Page 3
THE 24x7 SPECIAL NEEDS HOLIDAY TRUST {A COMPANY LIMITED BY GUARANTEE} INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independent Examiner's Report to the Trustees of The 24x7 Special Needs Holiday Trust IA Company Limited by Guarantee) (the 'company') I report to the charity Trustees on my examination of the accounts of Ihe company for the year ended 31 March 2024. Responsibilities and Basis of Report As the Trustees of Ihe 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'l. Having salisfied myself that the accounts of Ehe company are nol requirecl lo be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect ol my examination of the companys accounts carried out under section 145 of ihe Charities Act 2011 I'ihe 2011 AcV}. In carrying out my examination I have followed the Diroctions given by the Charily Commission under seclion 145(5}{bl of the 2011 Act. Independent Examinerfs Statement I have completed my examination. I can confirm that no maiters have come to my attention in connection with the examinakn'on giving me cause to believe: accounting records were not kept in respect of the company as requir8d by section 386 of the 2006 Act., or the accounts do not accord wilh those records-, or the accounts do not comply with the accounting requirements of sectiori 396 of the 2006 Act other than any requirement that the accounls give a 'true and fairf vlew which is not a matler considered as part of an independent examination- or the accounls have not been prepared in accordance thiith the methods and principles of the Statement of Recommended Practice for accoJnting and reporting by Gharilies lapplicable to charities preparing their accounls in accordance wilh the FinancAal Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other Tnatters in connection with the examination lo whi¢h attention should be drawn in this report in order to enable a proper understanding of Ihe accounts to be reached. Signed: Rebecca Hughes FCCA For and on behalf of- MHA Chartered Accountants Century House The Lakes Norlhamplon NN4 7HD Dated: 21 January 2025 Page 4
THE 24x7 SPECIAL NEEDS HOLIDAY TRUST (A COMPANY LIMITED BY GUARANTEE) REGISTERED NUMBER: 07180685 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Nole Fixed assets Investments Current assets Debtors Cash at bank and in hand 3.100 14,207 13,862 19.797 17,307 33,659 Creditors.. amounts falling due within one year (48.821) {54,6581 Nel current liablllties (31,514> (20,999) Nel liabilities (31.513> 120,998> Charity Funds Unrestricted funds (31.513} (20.9981 Total deficit (31,513) 120.9981 The company's financial statements have been prepared in accordance wilh the provisions applicable to companies subjecl to the small companies regime. The Trustees consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 { the Act") and members have not required the company lo obtain an audit for the year in question in accordance with section 476 of the Act. The Trustees acknowledge their responsibilities for complwng with the requirements of the Companie5 Act 2006 with respect to accounting records and the preparation of finaticial statements. The financial 3tatements were approved and authorised for issue by the Trustees on 21 January 2025 and signed o their behalf, by.. Mr A T Mahoney The notes on pages 7 to 12 lonn part of these financial stalemenls. Page 6
THE 24x7 SPECIAL NEEDS HOLIDAY TRUST (A COMPANY LIMITED BY GUARANTEEI STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds 2024 2024 2023 Note Income from: Donations and legaGies Other trading activities 6.943 103,344 6.943 103.344 5,021 12,160 Total income 110.287 110,287 17,181 Expenditure on: Raising funds Charitable activities 118,024 2,778 118,024 2,778 46,133 4,648 Total expenditure 120,802 120,802 50,781 Net expenditure before other recognised gains and losses Net movement in funds (10,515) (10.5151 (1Q,515} (10,515) (33.6001 {33,600) Reconciliation of funds: Total funds brought forward {20.998) (20,9981 12,602 (31.513) (31,513) {20,9981 Total funds Carried forward All of the Chariiable Company's aclivilies are derived from continuing activities. There were no other recognised gains or losses other than those stated above. The notes on pages 7 10 12 form parl of these financk81 sialemenls. Page 5
THE 24x7 SPECIAL NEEDS HOLIDAY TRUST (A COMPANY LIMITED BY GUARANTEE} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting Policies 1.1 Basis of preparation of financial statèments The financial staternents have been prepared in accordance with Accounting and Reporting by Charities- Slatemenl of Recommended Pra-tice applicable to charities preparing Iheir accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effeclive 1 January 2015) {Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK an(J Republic of Ireland (FRS 102) and the Companies Act 2006. The 24x7 Special Needs Holiday Trust meets the definition of a public benefil enlity under FRS 102. Assels and liabilities are inilially recognised at historical cost or Iransaclion value unless otherwise staled in the relevant accounling policy. 1.2 Company status The company is a company limited by guarantee. The members of the company are Ihe Trustees named on page 1. Sn Ihe event of Ihe company being wound up, the liability in respect of Ihe guarantee is limited to £1 per member of the company. 1.3 Income All income is recognised once the company has entitlement to the income. it is probable Ihat the income will be received and the amount of income receivable can be measured reliably. Donated services or facilities are recognised when the company has conlrol over the item, any conditions associated with Ine donaled item have been met, tt)e receipt of economic benefit from the use of the company of the item is probable and tnat economic benefit can be measured reliably. In accordance wilh the Charities SORP IFRS 1021. the general volunteer time of the Friends is not recognised and refer to the Trustees, Report for more information about their contribution. On receipt. donated professional services and don8ted facilities are r8COgnised on the basis of the value of the gtft to the company which is the amounl Ihe company would have been willing to pay to obtain services or facilities of equtvalenl economic benefit on Ihe open market; a corresponding amount is then recognised in expenditure in the period of receipt. Page 7
THE 24x7 SPECIAL NEEDS HOLIDAY TRUST {A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 MARCH 2024 Accounting Policies {continued) 1.4 Expenditure Expendilure is recognised once there is a legal or constructive obligation to transfer economic benèfil to a third party, il is probable that a transfer of economic benefits will be required in settlement and the amount of the obligalion can be measured reliably. Expenditure is classified by activity. The costs of each acliwty are made up of the total of direct costs and shared costs. including support cost5 involved in undertaking each actlvity. Direct Gosls attributable to a single activity are alloc3led directly lo that activity. Shared costs which contribule lo rnore than one activity and support costs which are not atlribulable to a single activity are apporiioned between those activities on a basis consistent wlh the use of resources. Central staff costs are allocated on the basis of lime spenl, and deprecialion charges allocated on the porlion of Ihe assèt's use. Fundraisin9 costs are those incurred in seeking voluntary contributions and do nol include the costs of dissemin8ling information in support of the charitable aclivities. Support cosis are tliose costs incurred directly in support of expenditure on the objetls of Ihe company and include projecL management carried out al Headquarters. Governance costs are ihose incurred in connection wilh administration of Ihe company and compliance th constitutional and ststutory requirements. Costs of generating funds are costs incurred in attracting voluntary income. and those incurred in trading activities that raise funds. Charitable activities and Governance costs are costs incuried on the companys operations. including support costs and costs relating lo the govemance of the company apportioned to charitable activities. 1.5 Investments Fixed asset investments are a form of financial instrLamenl and are initially recognised at tlieir transaction cost and subsequently measured at fair value at the Balance Sheet date. unless fair value cannot be measured reliably in which case it is measured al cost less impairment. InveslTnenl gains and losses. whelher realised or unrealised. are Combined and shown in the heading 'Gainslllosses) on inveslment5' in the Statement Df Financial Activities incorporating IncDme and Expenditure Account. 1.6 Intèrest receivable Interest on funds held on deposit is included when receivable and the amount can be mÈasLired reliably by the company.. this is normalty upon notification Oi the Intefesl paid or payable by the Bank. 1.7 Debtors Trade and olher deblors are recognised al Ihe setllemenl amounl afler any trade discount offered. Prepaymenls are valued at the amounl prepaid net of any trade discounts due. 1.8 Cash at Bank and in hand Cash at bank and in hand includes cash and short term highty liquid investments wilh a short maturity of three months or less from the date of aulSItion or opening of the deposit or similar account. Page 8
THE 24x7 SPECIAL NEEDS HOLIDAY TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting Policies Icontinued) 1.9 Liabilities and provisions Liabilities are recognised when there Is an oblvJalion at the Balance Sheet date as a result of a pasl event, il is probable Ihal a transfer ot economic benefit will be required in setllemenl, and the amount of the setU8ment can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount il has received as advanced paym8nls for the goods or services il must prowde. Provisions ar8 measured al the best estimate Df th8 amounts required lo settle th8 obligation. Where the effect of the lime valuè of money is material. the provision is based on Ihe present value of those amounts, discounted al the pre-tax discount rale Ihal reflecls the risks specific lo Ihe liabilily. The unwinding of the discount is reco9nised wilhin interesl payable and similar charges. 1.10 Financial instruments The company only has financial assets and fsnancial liabililies of a kind thal qu81ify as basic financi81 instruments. Basic financial instruments are initially recognised al Iransa¢lion value and subsequenlly measured at their settlement value with the exr£plion of bank loans which are subsequenuy measured at amortised cost using the effeclive interesl method. 1.11 Fund accountlng General funds are unrestricted funds which are available for use at the discretion of the TTUStees in furtherance of the general objectives of the company and which have not been designaled for olher purposes. Income from donations and legacies 2024 2023 Donali¢)ns 6,943 5.021 Tolal 2023 5,021 Other trading actlvltles 2024 2023 Auction and event income Lottery 100,313 3.031 11,692 468 103,344 12,160 Total 2023 12,160 Page 9
THE 24x7 SPECIAL NEEDS HOLIDAY TRUST IA COMPANY LIMITED BY GUARANTEE} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Support costs Total 2024 Total 2023 Governance Activities Bank charges Independent examiners fee Travel costs 272 272 2,458 48 1,180 3,040 428 2,458 48 2.506 272 2.778 4,648 Total 2023 5.157 1.181 6.338 Support costs are allocated based upon time spent upon 8clivities. All costs incurred relate to unre51rict@d funds. Analysis of Expenditure by expendituro typo Dlrect costs 2024 Total 2024 Total 2023 Dlrect costs Bank charges Governance costs 118,024 272 2.506 118,024 272 2.506 46,133 1,180 3,468 120,802 120,802 50,781 Total 2023 46.183 46.183 N¢t Income This is slated after charging.. 2024 2023 Independent examination 2,506 3,040 Page 10
THE 24x7 SPECIAL NEEDS HOLIDAY TRUST (A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Fixed asset investments Shares In group undertakings At 1 April 2023 and 31 March 2024 The Charitable company owns 100¥0 of the share capital for one subsidiary, 24x7 Special Needs Holiday Trading Limited (company number.- 105341581 registered in England and Wales. An investment of £1 is held by The 24x7 Special Needs Holiday Trust in 24x7 Special Needs Holiday Trading Limited. which represents the cost of acquiring the whole of the ordinary share capital of the Gompany. 24x7 Special Needs Holiday Trading Limited has been a dormant company Sin inception. Debtors 2024 2023 Trade debtors Prepayments 3.100 13.862 3.100 13,862 Creditors- Amounts falling due within one year 2024 2023 Trdde creditors Amounts owed to group undprtakings AGGruals and deferred income 380 45,111 3.330 40,269 14.389 48,821 54,658 Deferred Income represents reiptS re1Ve for events lo be held in the following financial year. Page11
THE 24x7 SPECIAL NEEDS HOLIDAY TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. Related party transactions During the year Mr A Mahoney a Trustee claimed tsxpenses from the charitable Company during the year of £4812023 - £nil). No other Trustee received any remuneration or reimbursement of expenses. During the year 24 x 7 Ltd. a company in which Mr A T Mahoney and Mr A A Mahoney are directors, paid expenditure on behalf of the Charitable company of £4.84212023 - £17.664). The amount due to Ihem al the yearend was £45,111 (2023 - £40,269}. During the year 24x7 Limited made a donation of £NIL {2023 - £nill. During the year holiday grant payments of £66.019 (2023 - £nil) were made lo Centre Trust LDA, a charitable company registered in Portugal in which MF A T Mahoney is a Director and the sole Shareholder. There were no other related partiès for the year ended 31 March 2024. Page 12