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2021-11-30-accounts

Charity registration number 1145648

Company registration number 07836910 (England and Wales)

DREAMS AND WISHES

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

DREAMS AND WISHES

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Ms B E Atkinson
Mr J C Collingbourne
Mr T Curtis MBE
Charity number 1145648
Company number 07836910
Registered office Transport House
1 Cardiff Road
Newport
NP20 2EH
Independent examiner UHY Hacker Young
Lanyon House
Mission Court
Newport
South Wales
United Kingdom
NP20 2DW

DREAMS AND WISHES

CONTENTS

Page
Trustees report 1 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 13

DREAMS AND WISHES

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 NOVEMBER 2021

The trustees present their report and financial statements for the year ended 30 November 2021.

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 governing document, 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 objects are to support children suffering from serious or life-threatening illness and the families of those children by such charitable means as the Trustees see fit. In particular, but not exclusively, this can be achieved by granting financial aid to those children and the families of those children who have been referred to the charity by Doctors, Medical Specialists, Social Workers, Play Specialists, Local GP or Charity Ambassadors, by means of financial aid or otherwise to fulfil the dreams and wishes of the children and their families who are seriously ill or have a life-threatening illness. The charity creates special memories for both the children and their families.

The main aim of the charity is to fulfil wishes and create many smiles and happy lifelong memories for the children and their families who find themselves in a very difficult position with a child who is seriously ill. This is extremely important for the families and the children who are seriously ill or have a life-threatening illness. The charity achieves this by granting their wish, organising day trips and family events. As a charity we also help the families by way of financial or moral support by such means as the Trustees see fit. This is achieved, but not exclusively, by granting financial aid or fulfilling the dreams or wishes to those children and their families that have been referred to the charity by a Doctor, Nurse, Social Worker or Play Specialist

Each wish request form is supported by a letter from one of the following: Consultant, Doctor, Play Specialist, Play Worker, Palliative Care Nurse, Board Member or Ambassador.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Volunteers

As a charity we are extremely lucky to have a team of dedicated volunteers that are not paid any salary or expenses for the countless hours they dedicate to making dreams and wishes come true for seriously ill children and their families. Without our team of volunteers, we would not be able to achieve this. There are four volunteers that go above and beyond for the charity putting in at least 25-30 hours per week, they are Tony Curtis MBE, Dianne Evans, Karen Tossell and Wendy Hobbs. It is unusual for a charity to have four volunteers willing to put in so many hours without being paid a salary or expenses. The charity has now been established just over 10 years and not one penny has been paid in wages or expenses to anyone. Special thanks also go to an amazing mum Sarah Griffiths, who lost her daughter Daisy 5 years ago. In Daisy’s legacy Sarah and her family have raised over £86,000 for the charity in the last 5 years. We would like to take this opportunity to thank all our volunteers for their hard work, dedication and support throughout this difficult year. It continues to be difficult to fundraise due to COVID.

DREAMS AND WISHES

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

Achievements and performance

Charitable activities

In this exceedingly difficult financial year the charity has still managed to fulfil hundreds of dreams and wishes and create life-long memories for children and their families who find themselves facing a serious illness. As a charity during other years, we have organised many family day trips and events where the families can all get together and enjoy time creating special memories. Sadly, due to COVID this year the charity has not been able to achieve this. We have however still been able to grant hundreds of wishes and provide support to the children and their families.

Some of the wishes granted during 2021:

During the year the charity has continued to bring happiness and create special memories for seriously ill children and their families by granting wishes. All holidays granted as wishes during 2021 have either been re-arranged for 2022 or the child has chosen a different wish. Some holidays were taken when lockdown was lifted. The charity is delighted to have still been able to grant hundreds of wishes during 2021 and to have created special memories for children and their families.

Sadly, some of the children we support have very short lives, therefore it is important for us as a charity to be able to help the families of those children to create life-long memories to treasure.

The charity is still supplying Chemo Ducks to the hospital which are then donated to the children for the play specialists to use as an aid for explaining the treatment process to the child.

Our Christmas visits to hospitals in South and West Wales were still able to go ahead during 2021. The gifts were wrapped over 3 weeks in advance and kept in sealed bags. We were then able to conduct a socially distanced visit along with Father Christmas, Welsh Guards, The Queen’s Dragoon Guards, Disney Princesses, and volunteers where we handed the presents to the Nurses to distribute to the children on our behalf. This year we decided because of Covid, there were several children still self-isolating, so we decided as a board to do doorstep visits to seriously ill children and their families. This created lots of fun for the children and their families. Father Christmas, Welsh Guards, Queens Dragoon Guards, Disney Princesses, and volunteers visited them. This created many smiles on faces and we had 2 and a half minutes coverage on ITV Wales and newspaper coverage in Wales. We were the only charity allowed this year into the Grange Hospital. This year we continued our support for the hospitals with thousands of Easter eggs.

After many meetings with bereaved families that are trying to rebuild their lives after losing their child, we set up the Beautiful Smiles Group. This has been put on hold due to COVID.

Due to vandalism the Celebration of life area at Heath Park is due to be moved to a different area of the park which is under negotiation with the local Council. The negotiation has now taken place and we have a different area where the Board and Trustees have decided to create an incredibly special Celebration of Life Garden.

DREAMS AND WISHES

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

Financial review

During the year the charity's incoming resources amounted to £126,128 (2020 - £169,898) and resources expended amounted to £124,299 (2020 - £122,115) resulting in a surplus for the period of £1,829 (2020 - £47,783).

All income and expenditure in both the current and prior year are unrestricted.

As at 30 November 2021 the charity's reserves totalled £412,059 (2020 - £410,230) consisting wholly of unrestricted reserves.

Reserves Policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The reserve policy for the charity is that when the bank account registers £10,000 or less wishes would be limited to £100 per wish. If the cash reserves fall as low as £5,000 wishes would be limited to £50 per wish.

The charity would like to thank the following organisations for donating services during this period. Without their support and commitment, we would not have been able to grant as many dreams and wishes and create as many special memories for the children and their families.

Atkinsons Solicitors - off ice space, lights, electricity, heating, photocopying and support
Storage Group – storage and support

Hasbro – supplying gifts


Total
 £
12,500
15,000
20,000
_____
47,500

Risk Management

The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

All trustees and board members are aware of GDPR, advice has been received from the ICO and the charity is fully compliant.

This is achieved by:

Future Plans

Dreams and Wishes will maintain the Celebration of Life area in Heath Park and a new bench will be installed at Roath Park. The charity will create a new Celebration of Life area at Heath Park.

Covid-19

The charity will continue to follow government guidelines on COVID with regards to parties and events.

We will continue to grant wishes by having things posted directly to the children at their home address or directly to the hospital. We have also supported the children’s wards with craft items, phone chargers and toys.

All board members will continue to use face masks and hand sanitiser wherever necessary. Due to the complete team being all volunteers with no salaries or expenses paid to anyone, this has stood us in good stead when we have been unable to arrange any major fundraising.

DREAMS AND WISHES

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

Structure, governance and management

Governing Document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee as defined by the Companies Act 2006 .

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Ms B E Atkinson

Mr J C Collingbourne

Mr T Curtis MBE

The day to day management of the charity is delegated to Mr T Curtis MBE and two volunteers.

Induction and training of new trustees

A Trustee will only be elected once he or she has shown considerable interest in the charity by working as a volunteer for at least one year. No new Trustee will be appointed unless they show a willingness to work with the children and their families and help us as a charity to fulfil wishes and create memories. Any new Trustee will be appointed by a majority vote of the existing trustees.

Each trustee received continual and ongoing training by regular meetings on compliance and governance with guidance from the Charities Commission.

The Trustees r eport was approved by the Board of Trustees.

..............................

Mr T Curtis MBE Trustee Dated: ......................... 10 / 06 / 2022

DREAMS AND WISHES

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DREAMS AND WISHES

I report to the trustees on my examination of the financial statements of Dreams and Wishes (the charity) for the year ended 30 November 2021.

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 (the 2006 Act).

Having satisfied myself that the financial statements of the charity 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 charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

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:

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.

UHY Hacker Young

Lanyon House Mission Court Newport South Wales NP20 2DW United Kingdom

13 / 06 / 2022 Dated: .........................

DREAMS AND WISHES

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 NOVEMBER 2021

Unrestricted Unrestricted
funds funds
2021 2020
Notes £ £
Income from:
Donations and legacies 2 105,833 165,949
Other trading activities 3 20,231 3,405
Investments 4 64 544
Total income 126,128 169,898
Expenditure on:
Raising funds 5 3,465 3,513
Charitable activities 6 120,834 118,602
Total expenditure 124,299 122,115
Net income for the year/
Net movement in funds 1,829 47,783
Fund balances at 1 December 2020 410,230 362,447
Fund balances at 30 November 2021 412,059 410,230

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

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

DREAMS AND WISHES

BALANCE SHEET

AS AT 30 NOVEMBER 2021

Notes
Fixed assets
Tangible assets
9
Current assets
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within one
year
11
Net current assets
Total assets less current liabilities
Income funds
Unrestricted funds - general		 2021
£
7,260
406,031
413,291
(1,800)		 £
568
411,491
412,059
412,059
412,059		 2020
£
5,735
405,448
411,183
(1,800)		 £
847
409,383
410,230
410,230
410,230

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 November 2021.

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 year 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.

10 / 06 / 2022

The financial statements were approved by the Trustees on .........................

.............................. Mr T Curtis MBE Trustee

Company registration number 07836910

DREAMS AND WISHES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

1 Accounting policies

Charity information

Dreams and Wishes is a private company limited by guarantee incorporated in England and Wales. The registered office is Transport House, 1 Cardiff Road, Newport, NP20 2EH.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, 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)". 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 applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts 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.

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.

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so please refer to the trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income from grants, whether capital grants or revenue grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

DREAMS AND WISHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is recognised on an accrual basis. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Grants payable payments are made to third parties in the furtherance of the charitable objectives of the charitable objectives of the charity. The expenditure is recognised when the commitment is communicated to the recipient.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

1.6 Tangible fixed assets

Tangible fixed assets are measured at cost , net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers

33% on cost

1.7 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.

1.8 Financial instruments

The charity 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.

1.9 Taxation

As a registered charity, Dreams and Wishes is entitled to the exemption from taxation in respect of income and capital gains received within section 479-489 of the Corporation Tax 2010 and in section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable object purposes only. No charge have arisen in the Charitable Company.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

DREAMS AND WISHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

2 Donations and legacies

Unrestricted Unrestricted
funds funds
general general
2021 2020
£ £
Donations and gifts 58,333 115,949
Government grant income - 12,000
Donated goods and services 47,500 38,000
105,833 165,949

Included in government grants above is £nil (2020 - £12,000) in relation to a business support grant received from the Welsh Government for COVID-19.

3 Other trading activities

Unrestricted Unrestricted
funds funds
general general
2021 2020
£ £
Fundraising events 20,231 2,700
Match funding - 705
Other trading activities 20,231 3,405

4 Investments

Unrestricted Unrestricted
funds funds
general general
2021 2020
£ £
Interest receivable 64 544

DREAMS AND WISHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

5 Raising funds

Unrestricted Unrestricted
funds funds
general general
2021 2020
£ £
Raising donations and legacies
F undraising events 3,465 3,513
3,465 3,513

6 Charitable activities

Direct costs
Support
costs
2021
2021
£
£
Depreciation and
impairment
279
-
Working with children with
life-threatening illness
111,807
7,088
112,086
7,088
Share of governance costs
-
1,660
112,086
8,748		 Total
2021
Direct costs
Support
costs
2020
2020
£
£
£
279
-
-
118,895
110,371
6,131
119,174
110,371
6,131
1,660
-
2,100
120,834
110,371
8,231		 Total
2020
£
-
116,502
116,502
2,100
118,602

Support costs consist of rent, printing, stationery, insurance and bank charges.

Governance costs includes payments to the independent examiner's fees of £ 1,660 (2020 - £ 2,100 ) for independent examination fees .

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the current or prior year.

There were no trustees expenses paid d uring the current or prior year.

DREAMS AND WISHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

8 Employees
The average monthly number of employees during the year was:
2021 2020
Number Number
Total - -
There were no employees whose annual remuneration was more than £60,000.
9 Tangible fixed assets
Computers
£
Cost
At 1 December 2020 847
At 30 November 2021 847
Depreciation and impairment
Depreciation charged in the year 279
At 30 November 2021 279
Carrying amount
At 30 November 2021 568
At 30 November 2020 847
10 Debtors
2021 2020
Amounts falling due within one year: £ £
Prepayments and accrued income 7,260 5,735
11 Creditors: amounts falling due within one year
2021 2020
£ £
Accruals and deferred income 1,800 1,800

DREAMS AND WISHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

12 Unrestricted funds - designated

These are unrestricted funds which are material to the charity's activities made up as follows:

Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources Balance at Incoming
Resources		 Balance at
1 December resources expended 1 December resources
expended
30 November
2019 2020 2021
£ £ £ £ £
£		 £
General funds 362,447 169,898 (122,115)
410,230		 126,128
(124,299)
412,059
Analysis of net assets between funds
Unrestricted Unrestricted
funds funds
2021 2020
£ £
Fund balances at 30 November 2021 are represented by:
Tangible assets 568 847
Current assets/(liabilities) 411,491 409,383
412,059 410,230

13 Analysis of net assets between funds

14 Related party transactions

There were no disclosable related party transactions during the current or prior year.