charity registrdtion number 1150178 Company registration number 08169471 (England and Wales THE TINY LIVES TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 THE TINY LIVES TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees GD Mccourt R Heam J Carangelo-Hutchins JA Carrulhers-Jones JH Dixon DC Hal S Soulham ADT t)unsmure A Hodgson (Appowited 20 Novembef 2023) Chief exe¢ut6ve Kelly Blakeney Charity nurnb•r 1150178 Company nUm￿r 08169471 R•gistsred office 19 Amethyst Road Newcasile Businèss Park Newcastle upon Tyne United ￿'n￿J0rn NE4 7YL Auditor Robson La￿er Accountants Limited Fernwood House Fernwood Road Jesmond Newcastle upon Tyne Tyne and We England NE2 1TJ Bankers HSBC 110 Grey Street Newcaslle upm Tyne NE1 &JG THE TINY LIVES TRUST CONTENTS Pag6 T￿stee5. reFM)rt Independent auth.lofs tsport 10-12 Statement of financ￿1 acts'vities 13. 14 Balance sheet 15 Statement ol cash flows 16 Notes to the financial slatements 17-28 THE TINY LIVES TRUST TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31 MARGH 2024 The truslees present their annual report fin￿ClaI statements for the year ended 31 Mafch 2024. The finangal statements have been Pfepared in 3CCud￿ with the accounting p0￿e$ set oul in note 1 lo the financial slalemenls and compty wilh the charitys goveming document, the Companies Act 200S and "Accounling and Reporting by Charities." Slatement of Recornmended Pfactice appluNe to chanti8s preparing Iheir accounts i accordance with Ihe Finanaal Reporting Standard appl'cable in Ihe UK and Republic of Ireland r families as they spend weeks ￿ months cm the unit wrth their baby, providing a more nurtunng enviroMienL Requesl fr)r emergency finanoal support directfy related lo time spent on the neonatal unil 15 up by 250A on Ihe previous year (the previous hwhest ever need). Mofe families than ever are accessing our posl discharge services and we have increased the range of groups we are able to prow08 foi neonatal families. lo reduce help reduce isolab¢)n. increase confidence and provide opporlunitses f￿ shan"TrJ of lived experi￿. THE TINY LIVES TRUST TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 THE YEAR IN REVIEW 2023/2024 es WE HAVE WORKED CLOSELY WITH THE NEONATAL TEAM TO REFURBISH THE RVI MEONATAL UNIT WITH A FOCUS ON FAMILY EIIVIRONMENT WITH AM INVESTMENT OF OVER £50,000 "Ir is essentlol rhot the Neonotol unir prow'des a phyg"ct71 ond sociol environmenr that is famlty friendfy, comfvrtable and which enables parenis to spend as much time os thty with Iheir bobies minimi&ng separation ond enhoncing experiences of core. l am delighied 10 Ihe soy the fvnding from firy Lives has made this w)ssible." 1,133 7he mini boos were just the best things &er. l olwoys feli like I hod o piece of my littlegirl with me though she wosnt C1)e￿. PAIRS OF MINIBOOS PROVIDÉO TO FAMILIES 126 ON UMIT PEEIt SUPPORT SESSIONS PROVIDED BY OUR DEDICATED VOLUNTEERS he sUPPOrtfrom Tiny Ll¥fs mode lrfe thot little bil e￿er. there WGS oAvoyslood in the fridgefor whenyou couldnt mentalty thlnk about feedingyourself, the miniboos were greatfor when we werent able to I￿ld her os we (￿Id stillfeel close and fhere was a counsellor ovoiloble 10 speok ro when it wos hord to process our new normol." THE TINY LIVES TRUST TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 FUNDS ISSUED THROUGH OU EMERGENCY FINANCIAL SUPPORT PROGRAMME HA8 INCREASED BY 25/0 375 You mode o very difficuft time o little PA R K I N G brighter, lhonky￿u." PERMITS ISSUED TO FAMILIES Yhe supportlrom firy LAes made lifr that little blt eosier. there was ohva food in the fridgefor bvhen ￿)U couldn't mentally think oboutfeedingyourself the miniboos were greatfor when we werent able to hold her os we could srill feel close and rhere wos a councillor Ovoiloble to ¥eak to when it was hard 10 process our new normol." 192 818LIHOS PACKS PROVIDED TO FAMILIES It was lovety to the gblins pock it helped us to explain things co our eldest child at o difficult time. It was a lovety resource to hove. 11 wos as much a wpport ro us os parents os li was to our eldesi ond ir was greot to see himfeel special too." OUR 'MAM8 CHAT. AND 'DADS CHAT, WHATS APP COMMUNITIES HAVE 84 MEMBERS THE TINY LIVES TRUST TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 "Everyone hos been very welcoming and warm which quickty put us oi eose. We are more relaxed and confident about our doughter's needs (she is on oxygen) and feel less alone knowing that there ore others who have o &milor experience... MEET. CHAT, LEARN 191 BABYAND PARENT CLASSES FOR 94 FAMILIES •d "Feeling likeyou belong. Its so nice 10 be oble to speok to other parents going through similor things to you so thatyoufeel less alone." 156 35 FUNDED COUNSELLING iny Li¥es gove the support I SESSIOIIS. BENEFTTING neededwhen Ireallyneededir FAMILIES fvery d(ry wos made Ihot little eosier ty the amozlng support rece￿d[roffl Tiny LNes. Finon(iolty, emotionolly ond mentolly. You reolly don'i reolise (he impocr Tiny LIVES hove on fomilies g(Nn8 through whot I con only exploin 10 be the hordest lime of )ur life uniil your pur in rhor Posilion yourself. We reolly could not have goi through ir withoutyou. We will befora¢r grotefvl. Keep being omozin THE TINY LIVES TRUST TRUSTEES. REPORT {INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 OBJECTIVES AND ACTIVITIES ObjeGtives The objects of the charity are the relief and care ol new bats'es and their mothers a￿1 families, in partiojlar those looked after by thè Newcastle Neonatal Service al the Royal v￿1￿la Infinnary. Newcastle upon Tyne, by: 1> the provision of financial or olher support for famlies 111 the purchase of equipment iii) the impro¥ement of amenities, facilities. and seN( Iv) such other charitable means as the Trustees determine v) promoting and advanefftg research Ihal relates to babies and famil*s under the care of the Newcastle Neonatal se￿ice and lo publish the useful results of such research Our Vi8i0n: Having a premalure si(* baby Can be one ol Ihe most drf￿U1t and lrfe changing challenges a farnily experience. Tiny Lives is here lo help ensure the best Possible outc¢xne¥ for bab*s and their lamilies throughout their neonatal journgy. Our Mlsslon: Tiny Lives recognises Ihat ihe nèonalal joumey is drflerent ts every lamty. For some, it may start during pregnancy and for some il may continue long after discharge. Tiny Lives supports babies and Iheir families throu9houl this journey, particularly those who have been ￿ed for by the neonatal ser￿￿ at the Royal Victoria Infirmary in Newcastle Tyne. Our Guiding Values: Tiny Lives fecognises that around every prernatU￿ and unwell baby ihere is a famity and families come In all forms and have many differeni needs. In order to enable the most posilive outcomes for babies. we will work with families. neonatal professionals. supportws and other siakeholders to". Engage - Refled Listen Improve Respmd Our Strategic Aim8: All famikes are able to access support for their emotional and mental heallh 2. We will support an environment that nurtures family relalionships, Pfomoles wellbeing and removes barriers 3. We will support an envifonfflenl tt￿1 delivers excellence in dnical care 4. We will be a sustainable and adaptive organtsation with a focus on impact The Trustee5 continue to ensure that eharilable funding is allocated in lj'ne wth the charitable obJeGls and the aims and objectives within the 2019 - 2024 Slralegic Plan. Areas of charrtable funding allocated are oullined in our achievements bel￿￿. THE TINY LIVES TRUST TRUSTEES. REPORT IINCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 AGhigvgments and pprfonnanc• During this year. we have supported over 730 families wth babies on the neonatal unit. and over 140 families wilh a variety of support activities posl-discharge from the untt. We have delivered a range of services for families once discharged home and trialled new groups including swimming classes and messy play groups as well as Irialled existing groups In new afeas lo reach more families where they are. The charity made a signfficant investmenl this year to lund the refurbishment of the neonatal unit. The dinical space has been transformed Inlo a more nurturing and comforting area, desy)ed to enhance the overall well-being and comfort of families with their premature or new-b(yn baby. Along with the refur￿shrnenl we have been allè to fund more new initiatives thts year induding.. An online course on 'Ladalion after Bereavement,. fof healthcare professionals to be able to help pafents nderstand Iheir lactation choices after baby Ios5 Activrties lo improve neonatal staff leaming and developmenl induding SupportirYJ RVI staff lo attend the leading hospital for Fl Care and Intemational Fl Care conference. share knowledge and leaming to improve care for lamilies al Ihe RVI Purchase of 2 new iPads lo improve neonatal training simulats.on activity for dinical staff whilst on the neonatal unil Butterfly Hearts in Hand5 keyrings for families who expenence baby loss in multiple births Expressive wriling wofkshop - a project with researthers from Northumbria Univer51ty lo explore potential wellbeing benefits of a range of expressive writing aGtIvrt￿S fof neonalal lamihes A fridgeffieezer for the family room lo enable famdies lo bring their own food to the unit. lo help achieve a mole healihy. varied and balanced diet. a5 weu as reduce costs of eatsng at ihe hospital. We have continued lo fund a range of staff roles to provNJe enhaKed support for famih'es. This has indud8d'. Clinical psychology sukycyt ts both on unit and pO￿4￿charge Neonatal Physiolhérapy Specialist Family Support Sou'al W The charily has realised a financbal deficit this year. This was a planned deficit by the Truslees of finy Lives ulilising surplus from preV￿u5 fi'nancial year5. The defiul realised is smaller than budgeted due lo exceptsonal fundraising performance. whi¢h has meant we have also been able to expand our servic£s arKI support for families. We have seen a rJJnlinued in¢rease in communty corpyatè fundraisbng. Tiny Lives is very grateful to everyone who has undertaken any fUndra￿Ing actiwty for the (tsrity. rw) matter how small or large. As a result of Ihe fundraising. we have seen another exeeplional yèar. with another hugely s￿£9SfUl chaTily ball. We would like lo thank all of guests who atterid our charity ball lo make il Ihe In￿edIble event thal it is, lo ensure Ihal Tiny Lives is able to continue to promde seprfb2s for neonalal famdies. The Board would also like to pass their thanks and appreciation lo all Trusts and Foundalions who have provided support to Tiny Lives this year. further details of which can be found In ry￿re delail in the notes lo Ihe accounts We have spent Ihis year consulting with neonatsl families. professionals and other stakeholders to inform and shape the development of a new charrty strategy lo be laUnd￿d in 2024. We ale incredibly graleful lo everyone who ha5 contributed to this significant proiecl which wdl help us impro¥e our suprM)rt and ser4*ices fof neonatal families in the North East and Cumbria. THE TINY LIVES TRUST TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Flnanclal review riny Lives doe5 not recer¥e any govemment funding aThJ fun(kasirg continues to be the principal source ol the ehaTily s intome. Flnancial Poslilon Full details of our financial posi￿￿ be found in Ihe aC￿mpanY1ng financial slatements attached to this repctrrt. The slalement of financial a¢l1vil￿S shows total incoming resources of £660.454. resulting in a deficit for Ihe year of £46,915. Designated funds have been utilised to develop new sep*ices and proie(as for the benefit ol families. Reservos policy The Trustees have established a reserve5 p)Icy to ensure the k)ng4erni 6UStainat4lity and financial slabilrty of the charity. This policy stipulates ihat ihe charity will maintain unreslncted reseNes equivalent lo al leasi six months, operating cosls. which Cufrenlty amounts lo £210.525. The chaity held unrestricted free fe5eNes of £546.149 at 31 Mafch 2024. then laking into accL)unl known lactors. induding designated funds, fixed assets, and conlractual obligations, the balaneA of reserves is £282,223. The reserves, designated funds and contracted commrtments are revwied ￿nualty in conjunction with Ihe budgeting process, and adiustmenls are made as needed lo refiect changes in the charity's actiwties. funding environment. and risk profile. The Trustees believe that maintaining adequale ￿ServeS, designated funds and provisions for contractual oblwatsons is essents.al to safeguard the charity's abj.lity to operale effeclively and to piovide continuity of services lo our benefioaries. Plans for fv￿re perlods In 202412025. Tiny Lives will launth our new slralegy. Tiry Lives hearuand is in the North East. supporting families fmm a¢rcJSS the North East and north Cumbria. Changes in maternrty serV￿eS and the needs of families who experience neonatal care has changed in the 10 years ￿nce the tharity became independenl. Our new slrale9y will sel oul how we aim lo meet those needs over the next 5 years. 2024r2025 will see Ihe charity continue lo develop and deepen our support for families who spend lime on the Newcastle Neonalal Se￿ICe HI the RVI. Alongside this, we will explore opportunitses to strengthen support for families across the famity health palhway. including letsl medrjne and transitional care. We wlll scope support for neonalal familiès ètross the gewaphy ol Ihe Northem Neonatal NetsNo￿, and eslabh'sh opportunities lo work in collaborat￿n with others to provKle appiopnate supporl where it is less readily available. We will also begin to explore opportunities to engage wrth families who are under-represented wilhin our seNices. including wilh families who do nol speak English as a fifst language, befeaved families and young families. Structure. governance and management The charily is registered as a charitable company limited by guaianlee and was incorporated under ils Memorandum of Asswalion on 6 August 2012. comMer￿jng aGtsvity on 1 September 2013. The charitable company is constituted under its Memorandurn of Asso¢iati¢)n and 1$ a r8gi3tered chanty (number 11 $01781. The Artides ofAssocialion have been awoved by the Charity Commissk)Th. The Truslees, who are also the directorn for the wrpose of company law: and who served during the ye8r and up to Ihe dale of the signature of the financial statements were-. THE TINY LIVES TRUST TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Iruslees. who are also Ihe directors for the puipose of comiiary law, and who served during the year and up to the dale of signature ol the statements wefe. NP Hurst (Resigned 12 January 2024) GD M¢Court R Hearn J Carangelo-Hutchins JA Carrulhers-Jones JH Dixon PA Dulson DC Hall S Soulham ADT Dunsmu A Hodgson {Resigned 25 September 2023) (Apponted 20 November 2023 Truslees are appointed lo mainlain a balance of six ctinical and Six non4linieal Iruslees. from a varièty or backgrounds. Appoinlmenls are made following an agreed process and ratified by the Board of Trustees. All new trustees follow an ind￿tIOn programme as set out In our Govemance Pcloes dwufftent. None of the trustee5 has any beneficial interest in the cofflpany. Al of the tTustee5 are members of the company and guarantee lo cDntfibule £1 in Ihe evenl ol a winding up. The Truslee3 are re3ponsible setting the strategic direc1K￿ of the chanty aThJ rts overall management. under the terms of the Articles of ASS￿allOn. Effeettve day lo day managemenl is delegated lo Ihe Chief Executive. auarterfy board meetings are held to discuss strategy and perfomwno. and to o)nsider funding appkations. Risk Management The Board reoive an update on nsk at eath meeting and review the risk fegisler In delail annually. unless events dictate a more immediate delarfed review. The Trustees have a5se5sed the major n5ks to which the chanty is exposed. in particular the finanual and operat￿nal risks. and are satisfied that systems and procedures are in place to mitlgate our exposure lo major nsks. The Board of Twstees have identified a risk related to Succession planning for the role of Chair of Trustees. Due lo exceptional circumslances. the Vice Chair slepped into the role of Chair during the yeaf on a temporary basis. To accommodate Ihis, Ihe Board of Trustees have enacted an extension to final lemi of 8eNGe in 202412025 to ensure Ihere 15 contsnuity for the charrty during thi5 period. Stsff reviews Staff salaries are re¥iewed annualty. Salar￿s for new posts are benchmarked against similar local charilies. Pay policy forsenior Staff No Irusiee received remuner21ion for their c￿trIbUtion lo Tiny Lives during 202312024. The salary of the Chief Executive is reviewed annually in line wrth the fest ol the slaff team. Related partles and COqoperatSon wlth other organlsatlons Any conneclion be￿een a trustee or sènior manager of the charity wrth a supplier must be disclosed lo the full board of trustees In the same way as any other ¢ontraclual relationship wilh a felated party. In the eurrenl year. no such related party transactions wefe reported. THE TINY LIVES TRUST TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Statsment of Trustees. responsibililio8 The truslees. who are also the directors ol The Tiny Lives Trusl for the purpose of company law. are responsible for prepafing the Trustees. Repon and the financial statements in accordance with applicable law and United ￿ngdorn Accounting Standards (United Kingdcrfm Generally A￿pIed Accounting Practice). Company Law requires the trustees to Wep2￿ frtancial slatemenls for each finanGial year which give a true and fair view of the slate of affairs ol Ihe Charity and 4)f the incA)ming resources and application of resources. including Ihe income aThJ expenditure. of the charitable wnpany that year, In preparing Ihese financial stalements. the trustees are requwed to.. - select surtaNe accwnting policies and then apply them con5iStenity.' - obsepde the methods and principles in Ihe Chwilies SORP: - make iudgemenis and eslimales that are rea%y)able and prudent.. slate whether applicable UK Accounling Standards have been followed, subject to any material departures disclosed and explained in the finanaal slalements, and prepare the financial slalements OfF the concem basis unless rt is nappropriate to presume thal thè eharily will ￿nts'nue In operatK>n. The Iruslees are responsible for kee￿n9 adequate accounting records thal disdose wilh reasonable accufacy al any limè the finanual po&tion of Ihe chanty and enable them lo ensure that the financial stalernents comply with Ihe Companies Act 20C6. They are also responsible for safeguardiTbg the as58ts of the charrty and hence for tsking reasonable steps frjr the prevention and detedw)n of fra￿1 aNI other Irregu1￿)11es. Audllor In accordance wtlh Ihe Company's articles, a resolution wop)sing ihal Robson Laidler Accounlants Limited be reappoinled as auditor of the company wll be put at a General Meeting. DlsGlosurp ol Infom￿100￿ to audltor Each of Ihe trusltes has confirmed that there is Th) information of whith they are aware wh￿h is relevant to the audit. but of which the audilor ts unaware. They hav8 further confirmed that they have taken appropfiale steps lo idenlity suth ielevant lnfom)al￿l and lo establish that the auditor ts aware of Suth inforrnalion. The Trustees. report was approved by Board ol Tmstees. MGCO Date". THE TINY LIVES TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE TINY LIVES TRUST Opinion We have audiled the financial slalemenls of The Tiny knves Trust (the 'charity'l for the year ended 31 March 2024 which comprise the slalemenl of financial actiwlies. the balance sheet, the statement ol cash flows and notes lo the finanoal slalemenls, induding significanl accounting polictes. The finanual reporting framewo￿ Ihal has been applied in Ihwr prepafalion is applICab￿ law arKI Uniled ￿'ngdoM Accountsng Standards, induding Financial Reporting Standard 102 Tho FinanGial Reporting Sla1￿¢1fd appbLable in the UK aixl Republic of IrelarTrd Iunited Kingdom Generally Attepied Accounting Pfaclice). In our opinion, the f￿ancIal statements.. give a true and fair wew of the slale of the d￿rItable companws affairs as al 31 March 2024 and of ils incoming resources and application of iesources. induding its income and expenditure. for the year then ended, have been propedy prepaffjd in accordance wilh United Kingdom Generally Accepted Accounting Practice., and have been prepared in arLordance with the requirement$ of the CLwnpanies Acl 2006. Basls for oplnlon We conducted our audit in accordance with Intemational Standards on Auditing (UK) will thays delect a material misstalement when il exist5. Misslatemenls can arise from fraud or error and are considered material if. Indwidually or n the aggregate, they could rea5￿ablY be expected to influence the e¢￿rIO￿l¢ decisions of users laken on the basis of these finanGd statements. The extent lo which our procedures are capable of dete¢ling irregularl1￿s. induding fraud. 15 detailed below. The risk of malerial misslalement due to e￿0[ or fraud has been assessed in conjunclion with how inlemal controls may miligale any such risk. These controls are reviewed as part of the audit be performing systems walkthroughs lo ensure they are operaling effects'¥ely. Olher subslanlive testing ￿ also performed on all material balances and therefore any Instsn￿s ol nonlincome for the yearf Net movement in fund8 <31,W) <15.851) (46.915) 62,684 Fund balances at 1 Apn'l 2023 708.845 28.3 737,145 674.461 Fund balantèl at 31 March 2024 6n.781 12,449 690,230 737.145 The statemenl of financ￿1 activits'es indudes al gains and losses recognised in the ye¥. The statement of financial activit￿5 indudes al gains and losses recognised in the year. AH income and expendilure derive from continuw)g aclivilies. The statemenl of financial activities also complies with the requifemenls lor an income and expenditure account under Ihe Companies Acl 20(￿. 13- THE TINY LIVES TRUST STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Prior financial year Unrestrlcted Restricted fvnds funds 2023 2023 Total 2023 Note8 Income and endowmonts from: Donations and legacies Other Iiading adivities Investments 4￿.884 112,$47 52.378 $09,262 112,S47 Total Inco￿ S71,895 52.378 624,273 enditure on: Raising funds 115.342 115,342 Charitable aGlivthes 401.622 44.625 446.247 Total expendlture 516.964 44,625 $61.589 Not loxpenditurgifincome for tho yoarl Nét movemènt In funds 54.931 7.753 62.684 Fund balances al 1 April 2022 653,914 20,547 674.461 Fund balances at 31 March 2023 708,845 28.300 737,145 14- THE TINY LIVES TRUST BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Notp• Flxed assets Tangible assets 13 5.799 4,141 Current a88ots Debtors Cash at bank and in hand 14 11E.939 686.C60 60.284 764.537 792.999 824.821 Creditors: amounts frdlling due within one year 15 {104,412) (69.7961 Net eufrent assets 688.587 755,025 Total a88ots1088 current Ilabllltles 694.386 759,166 Provlsions for liabilities 16 14,1561 (22,021) Nèt assets excluding pension liability ,230 737,145 Net assets .230 737.145 The funds 01 tho charity Restricted Income funds Unreslncted funds 18 12.449 677,781 28,300 708,845 69).230 737,145 The financial statements were approved by the trustees on . L!Ly goz DCHa Trustee Company registration number 08169471 (Enland ar￿ Wales) 15- THE TINY LIVES TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operatlng aetlvlties Cash (absorbed byllgeneraled from operati¢)ns 22 (85.0431 78.376 Investing activities Purchase of tangible fixed assets Investment income received (5.207) 11.773 2,464 Net cash genernted from investing activities Net cash used in financing aclivilies Net Idecreaseylncrease In cash and cash equivalents 178.477) 80,840 Cash and cash equivalents at beginning of year 764,537 683,697 Cash and cash equivalents at end of year 764,537 16- THE TINY LIVES TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 AGrountSng pollcles Charity Information The finy ￿VeS Trust is a private company limrted by guarantee incowated in England and Wales. The registered office is 19 Amethyst Road, Newcastle Business Park. Newcastte upon Tyne. NE4 7YL, United n9dom. 1.1 Accounting conventi( The fTnanoal slaiemenls have been prepared in accordance wrth the tha111￿$ goveming docurnent. the Companies Act 2CK)6. FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Irelarid" { FRS 1027 and the Charilies SORP "Accounting and Reporting by Charilies. Slalemenl of Recommènded Prxlice applicable to charities preparing their accounts in accordance with the Finaiicial ReFlOrting Slandard applicable in the UK and Republi¢ of Ireland (FRS 102)" {effective 1 January 2019>. The charity is a Public Benefil Entity as defined by FRS 101 The financial statements afe prepared in slerling. whch is Ihe lunctional currency of the Gharity. Monetary am¢Junts in these financial slalements are rounded to Ihe nearest £. The financial statements have been prepared under the historical cost o)nvention. The Pfincipal accounting polioes adopied are set out below. 1.2 Going concern Al Ihe lime of approwng the fin￿claI statements. the Injstees have a reasonable expectation Ihal the charity has adequate fesources lo continue in operalional existen￿ lor the foreseeable futur8. Thus the Irustees continue 10 adopt the gomg concem basis of accounting n prepanThJ the finanaal stalemenls. 1.3 Charitable lund8 Unrestricted funds are available for use al the disueth)n of the trustees in fUrthe￿nCe of Ihew chanlable objectives. Re5kn'Gted lunds are subject to speoft conditions by (Jonofs of wantors as lo how they may be used. The purposes and uses of the restr￿ed funds we sel out in the notes to the financial stalemènls. Endowmenl fvnds are 5ubJ"e¢l to speth cfmditions by dornrs thal Ihe cay'tal musl be maintained by Ihe charity. 1A Income Income is recognised when the charity is legally entitled to il after any perforniance conditions have been met. the amounts can be measured reliably, and il is probable that income will be received. Cash donalK)ns are re￿gniSed on receipt. Other donat￿n$ are recognsed once the chanly has been notified ol the donation. unless performance C￿dItIonS require deferral of the amount. Income tax reC￿verable in relation lo donations received under Gift AKI oi ijeeds of covenar)l is recognised at the time of the donalion. 17- THE TINY LIVES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles Icontinuedl Legacies are recognised on receipt or otherwise if the charily has been notified of an impending dislribution, tho amount is known. and re￿Ipl is expeded. If the amount is not known. the legacy is tfealed as a conlingenl asset. Income from Iradin9 aciivrties wKkJde income eamed from fijndraising events and trading activities lo raise funds for the charity. Income is received in exthange for supplwng goods and services in order lo raise funds and is recognised when enlillemenl has occurred. No amwnt is ind￿led in the fina￿al statements IN volunteer tme in line with the SORP IFRS 102). Further detail is given in the Trustees. Report. Investment irKorne relales lo inleresl eamed through holdry assèts on deposil. 1.S Expenditure Expendilure is recognised once the￿ is a legal or con5twclive obh'gation to transfer ecr)nomic benefit to a thifd party, it is probable that a Iranslef of ec4)nomic benefits will be required in settlement. and the amoLtnl of the obligation can be measured reliably. Expendilure is clasSif￿d by activity. The eosts of each activity are made up of Ihe total of direct cosls and shared costs. including support costs invoKTed in undertaking each acti¥ty. Direct costs allributable lo a single acliwty are allocated directly to that adivity. Shared cosl5 which Contr￿ule to more than one activity and support cosls which are not alint￿table to a single aclivily are apportioned between those activities on a basis con￿stent with the use of resource5. Central staff costs are allocated on the basis of lime spent, and depreciation charges are allooled on the p(xts"on of the assel's use. Support ￿5t5 are those that assisi the WOTk ol the tharily do not th'rectly represent charitable activrties and indude office costs. governance costs and administrats've payroll costs. They are incurred difectly in support of expenditure on the objects of the charity and Included project management carried oul at Headquarter5. Where support costs cannot be directly attributed to particular headtngs the have been allocated to the cost of raising l￿dS and exp8ndrture on chwilable aciMl*s on a basis consislenl wth use of the resources. Expenditure ￿ accounted lor an accruals basis and has been dassified under headings that aggregate all costs relaled lo the category. Expendilure is recognised where there Is legal or constructive obligation lo make payinenls lo Ihwd parties. it is probable Ihat Ihe settlement will be required and Ihe amounl of Ihe obligation can be measured reliably. Irrecoverable VAT is charged against the expenditure irKurred. Grants payable lo third part￿S are within the charitable activitie5. Where unconditional grants are offered the graiit is recognised when they are awarded . ￿There grants are conditional relalii)g to perfomiance then the granl is accrued when Ihe conditions have been mei. 1.6 Tangible fixed assets TaFigible fixed assets are initialty measured at Gost and sub5equenlly masured at cost or valuation, net of deprecialk)n and any Impairmenl losses. Depreciation is recognised so as lo wrile off the cost or valuation of assets less their ￿sIdUal values over their useful lives on Ihe following bases. Fixtures, fittings & ¢omputer equpnent 33% slrauht line The gain or k)ss arising on the disposal of an asset is detemiined as the difference between the sale proceeds and the carrying value of the as5el, and is retCx3nised in the slaiemenl of financial activities. 18- THE TINY LIVES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policlo# Icontlnuod) 1.7 Impalrnient of flxèd assets Al each feporting end dale. Ihp charily reviews the r-arry￿9 amounts of rts iangible assets to detemiine whether there is any Kidication thal those assets have suffered an impairment loss. If any such indication exists, the recovefable amount of the assel is estvnated in order to determine the extent of the impairmenl loss {if any). 1.8 Cash and cash equivalents Cash and cash equivalents indude cash in hand. deposits held al call with banks. other short-term liquid investments wrth onginal malurilies of three months (x less. and bank overdraft5. Bank overdrafts are shown within borrowings in current habilits"es. 1.9 Employee benefits The cost ol any unused holiday entrtlement is re¢ogThsed in Ihe period in which the employee's Se￿iCeS are received. Terniination beneffts are recognised immediately as an expense when the charity is demonstrably committed lo terminale the employment of an employee or to provide teTmination benefits. 1.10 Retirement benefits Payments to defI￿d Contribution ￿tirement benefrt 5themes are charged as ￿ expense as they fall due. Criti¢al a¢¢ounting 08timatss and Judg•mènts In the application of the charity's accounting policies. Ihe trustees are required lo make judgement5. eslimales and assumplions about the cafrying amount of assets and h'abilities Ihal are not readily apparent from olher sources. The est¥nates and associal8d assumpt￿nS are based on historical expenence and other faclors that are constdered to be relevant. Aciual reS￿(S may drffer from Ihese estimates. The estimates wd under￿'n9 assumptk)ns are re¥iewed on an ongoing basis. Revisions to aC￿untIng eslimales are recognised in the period in which the estimate is re￿Sed where the revision affecls only that period. ￿ in the perK>d ol the reviwon and fulufe penods where the rewsion affects both Gurienl and lulure periods. 19- THE TINY LIVES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Donations and legacies Unrestrlcted Restrltted funds funds Total Unrestricted Reslricled funds funds Total 2024 2024 2024 2023 2023 2023 Donations and gffts Legatses receivable Granls 362,981 35.327 398.308 342.893 38,362 381,255 1.000 127.007 150.192 150.192 112.991 14,016 513,173 35.327 548.500 456.884 52.378 509.262 Grants recelvable for core activities Co- op Local Community Granl Community Founijalion Northumberland Village Homes Trust Baker Hu9hes Other 3.357 3,357 146,335 146.335 96.139 96,139 3.760 3.760 12.300 11.451 12.300 4.552 3.857 3.857 6.899 150,192 150.192 112.991 14,016 127.007 Income from other trading aclivities Unre5triGted Unre8trlcted funds funds 2024 2023 Fundraising events Trading actmty i1￿me.. othef 97,601 2,210 1tig,011 3.536 Other tTading activities 99.811 112.547 THE TINY LIVES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Raising funds Unregtricled Unrg¥tricted funds funds 2024 2023 Fundfaisin nd ublici Ollier fuTrJraising costs Slaff costs 58,281 68,420 51.876 63.466 Ftsndraising and pubh'city 126.701 115,342 126.701 115.342 Expendilurg on charitable acllvltles Chiritsble acb'vities 2024 Charitable aGtivitios 2023 Dlre¢t costs Staff cA)sls Deprecsation and impainnent Premises costs Office costs Professional costs Olher cosls Direct proiect Gosts 144.836 3.549 20.261 4,467 999 109.583 2.160 17,540 17.356 1,008 102 35,943 46,685 221.398 183.692 Grant funding of aclivilies (see note 7) 260.199 222,635 Share of support and governance costs Isee I￿te 8) Support Govern￿ce 81,484 17.587 35,285 4,635 580,868 446.247 Analysis by fund Unieslricled funds Reslricled funds 529,490 51.178 401.622 44.625 580,668 446.247 21- THE TINY LIVES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Grants payable 2024 2023 Grants to institUt￿n5' To fund a social worker for Ihe Ward Newcaslle Cty Council To fund a physiolherapisl loi Ihe Waid NHS Foundation Trust To fund a psychological support for the Ward.. NHS Foundation Trust To lund research for the Ward. NHS Foundation Trust To fund training tor the Ward: NHS FoUthI￿n Tfust To fund equipment lor the ward.'olher To fund services for the Ward To fund planning for redecoration for the V+ard To fund a course for pafents.. Nor1humbria universrty Less grants no Iwr requtred 63.543 15.648 34.551 4,575 15,(100 33.882 60,874 59,851 19,670 386 34.904 5.760 3.630 51,672 2.808 (11,626> (6,813) 210.053 178,262 Grants lo individuals 50.146 44,373 260.199 222,635 Support costs allocated to activities 2024 2023 Staff cost5 Premises ¢o$ls Office eosls Governance ￿Sts 44.108 5.686 31.6￿$ 17.587 26,560 4,366 4,339 4,635 99,071 39,920 Analysed between: Charitable ad1vil￿6 99,071 39.920 Net movement in funds 2024 2023 The nel rnovèment in funds is slaiÈd after charg1￿{CredIting)'. Dep[eci￿'on of ￿￿ned tangible fixed assets 3.549 2,160 22- THE TINY LIVES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Trustses None of the truslees {or any persons conrbeded with them) reeeived any remuneration Of benefits fwom the charity during Ihe yea(. 11 Employa•s The average monlhly number of employees dunng year was.. 2024 Number 2023 Numbèr Employment CO818 2024 2023 Wages and salwies Social security costs Other pension Gosts 229,318 15.333 12,713 177.566 11.894 10.149 257,364 199.609 The key managemeni personnel ol the charity comprise the trustees, and Ihe Chief Executive. The total employee benefits ol the key management personnel of Ihe charity wefe £72.099 (2023- £67.459). The number of employees w*K)se annual remuneralion was more than £60.CIX) is as lolk)ws_' 2024 Number 2023 Number £60.lYJO to £70.DIKI 12 Taxation The chartty is oxempl from tax on inc (5,138> At 31 Mard12024 4,156 17 Analysis of net assets between funds Unrestricted funds 2024 Re$trictgd funds 2024 Total 2024 Al 31 March 2024: Tangible assets Currenl asselsl(liabilrties} Provisions 5,799 688.587 14.156) 676,138 (4,156> 12.449 677.781 12,449 690.230 Unrestrlcled fvnds 2023 Re$trleted funds 2023 Total 2023 At 31 Marth 2023: Tangible assets Current asselsl{liakn'lilies) Provisions 4.141 726.725 (22.0211 4,141 755,025 {22,021) 28.300 708,845 28.300 737,145 -25- THE TINY LIVES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 R?striGted tund¥ The restricted lunds of the charity CC￿priSe the unexpended balance5 of donat￿n$ and granls held on trust subjed to 5pecifi¢ conditions by don(Ms as lo how they may be used. Movem•nt In funds Incoming Re59ui¢e$ 8alan¢e at r•sourc05 xponded 31 Plarch 2024 Balance at 1 April 2023 2Ltd St James's Place Charttable Foundat Poslcode Neighbourhood Trust Cs>OP Local Community Fund 22123 Northumberland Villa9e Hoffles Trust Donations from Memorial 2022 Tesco Communily Grant iamproperty Group 2022 iamproperty Group 2023 Co-op Local Community Fund 2023r24 Gardnef lund rr2 Ltd 23r24 Lowes Financial Management Ltd 6.059 1.354 1.296 2.311 731 135 1.499 14.915 <6.059) <1,354) 11,296) (2,311) 1731) (135) (1.499} (14.915) 111.255) 1570) 14.730 2.497 1.100 1 S.000 3.475 1.927 1.11JO 4.035 1,912 {10.965) (88) 28.3 35.327 (51.1781 12,449 rr2 Ltd awarded funds to support the Tiny LNes Travel Scheme in 2023 and 2024. The sthenie Supplies hospital parking permits for pafenls wilh access lo a car. provides funding for pU￿1C transport Iravel passes for those Ihal don't and for those in the grealesl hardship, help wilh fuel costs. st. James's Place Charitable Foundation awarded Tiny Lives a granl lo fund part of Ihe family bereavement wotk. specifically. digtial photo print packages for families, a family bereavement support group session. and a memorial ser¥ice. A grant was given to Tiny Lives by Posltode NeIghtthrhoC￿ Trnst lo fund CC•unselling SesS￿nS for neonalal families. Tiny Lives were selerled to be SUPFQrted by the c￿aP Local Community Fund in both 22r23 and 23124. Funds were used lof Tiny Lives peeT SUPPOrt aclivrties l)olh on and off the rwnatal unrt. The Northumberland Kfilage Homes Trust awarded lo Tiny Lives a granl fund lo facilitate three terms of the Meet Chal Learn prcMJrammes. Donation& made during the RVI Memorial serv￿ 2022 were tssed io conlribule lo the costs of the 2023 Se￿ICe. Tesco Community Grants have awarded Tiny Liies funds for the wrchase of baby Posit￿nIng aids. In 202212023 Tiny Lives were selected as Chanty of the year by the iamproperty group and they asked that the funds they raise go Iiywards to funding 7 hwrs of additK)nal sooal work support on the neonalal unit. Tiny Lives were reselected for by iamproperty group for their 2Q2312024 fundraising lo supporl the baby development project which will direcl funds iowards thè provision of equipment and a specialist slafl posl lo supporl the heallhy development of bab￿5 who spend time on the Neonatal unit al Newcastle Upon Tyne, Royal Vicloria #ifimiary. THE TINY LIVES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Règtrlcted ftinds Icontinuedl A donation was received from the Gardner fuThJ to conlrilxrte lo Ihe refufbishment of the expressing room at the Royal Victoria Infirmary. A donation was received from Lowes Finan(aal Management Ltd lo fund 160 parent packs. Parents receive a pa¢k upon admission to the Unrt. Each family receives one pack. which is full of useful bits and pieces lo hèlp make the initial transit￿n lo Ihe Neonalal Unrt a IFth eaiAer. 19 D•8lgnated funds The unr8Stricted funds of the charty comprise the unempended bala￿e$ of dtmations and grants which are nol subject lo speafic conditions by donors and grantors as to how they may be used. These include designated funds which have been set asKJe out of unrestncted lunds by the liustees for speofic purposes. 8•l•nc• al l Aprll 2023 ReJoufCg• •xp?nd•d Tr•n•f• Balancg al 31 M•r¢h 2024 Charilable Activrties Property costs Web and digital 78.952 6.422 2.049 (39,5371 (3,602) 83.598 123,013 2,820 (2,049) 87.423 143.1391 81.549 125,833 Charitable Activities - The fund has been Set up to support the delivery of the thantable aclivrties committed lo by the Board of TTUStees. Property costs- The fund relates to costs set a￿de f(x property maintenance. Web and digital - This fur¥J relates to costs sel as#le for the development of a new webth. 20 Operating lease commilment5 Lessee Al the reporting end date the tharty had outstanding commrtments fof future minimum lease payments under non-cancellable operathg leases. which fall due as follows: 2024 2023 Ihin one year Between iwo and five years 12.300 43.050 12.300 55,350 55,350 67.650 27- THE TINY LIVES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 Related party transactions There were no disckjsable felated party transaciK)ns during Ihe yeaf (2023 . none). 22 Cash genernted from op•ratlons 2024 2023 {Deficitysurws for the year (46.915) 62.684 Adjustments for-. Investment income recognised In slalemenl of financial aclimties Depre¢iation and impairmenl of tsngible r￿ed a55els (11.773) 3,549 {2.464> 2,160 Movements in vffjtking capital". (Increase) in debtor8 Increase in creditors Inciease m pl0vis￿n$ (46,855) 34.616 (17.865) (4.735) 29.295 (8.5641 Cash labsothd by)Igenèrat•d Irom operations (85.043) 78,376 23 Analysls of ch•ng•$ In nèt funds The charity had no malerhgl debt thnng the year. -28-