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2023-03-31-accounts

Company registration number: 08339436

Charity registration number: 1151146

Sebastian's Action Trust

(A company limited by guarantee)

Annual Report and Financial Statements for the Year Ended 31 March 2023

Stewart & Co Accountants LLP Knoll House Knoll Road Camberley Surrey GU15 3SY

Sebastian's Action Trust

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 13
Independent Auditor's Report 14 to 17
Statement of Financial Activities 18 to 19
Balance Sheet 20
Statement of Cash Flows 21
Notes to the Financial Statements 22 to 42

Sebastian's Action Trust

Reference and Administrative Details

Secretary Mark Courage Charity Registration Number 1151146 Company Registration Number 08339436 Registered Office The Woodlands Upper Broadmoor Road Crowthorne Berkshire RG45 7FN Auditor Stewart & Co Accountants LLP Knoll House Knoll Road Camberley Surrey GU15 3SY

Page 1

Sebastian's Action Trust

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2023.

Objectives and activities

Objects and aims

Sebastian’s Action Trust is a registered charity (Number 1151146) and a charitable company limited by guarantee (Number 8339436), incorporated on 21st December 2012, having registered previously as an unincorporated charity on 9th August 2004. The company was established under a Memorandum of Association which sets out the objects and powers of the charitable company and is governed under its Articles of Association.

The charity’s purpose, as set out in the objects contained in the company’s memorandum of association, is:

To relieve the needs of children with life - limiting or life - threatening medical conditions, and their families, by:

a) The provision of respite holidays and day visits,

b) The provision of emotional, social and practical support with the aim of assisting families in need at critical times, in particular, but not exclusively, emergency transport, wellbeing therapy, psycho-social care, sibling support, help at home and bereavement care,

c) Raising awareness of the need to improve services and provisions for families of life-limited children.

Sebastian’s Action Trust model of care offers emotional, social and practical care to reduce isolation, provide meaningful support and build resilience to help families who face an uncertain future. The Trust provides a range of services to meet individual and collective needs by supporting the family as a unit and as individuals, including parents, the sick child, siblings, grandparents and carers. Support takes place at home, in hospital and in the community, as well at our facilities in Hampshire and Berkshire.

The strategies employed by the Trust are to employ qualified and experienced service delivery staff who deliver the outreach service, bereavement care and finance and welfare support. Staff are allocated to families on a geographical basis and receive regular training and support. The Trust offers respite breaks in a purpose built facility, The Bluebells and offers day visits at both The Bluebells and The Woodlands. Sebastian’s Action Trust regularly asks beneficiary families for feedback and responds to changes in demand for services; for example, counselling is provided in response to demand for this.

Objectives, strategies and activities

Main objectives for the year

In 2022/23 our services returned to business as usual after the pandemic. We delivered continuity of care by providing the following:

Breaks and Day Visits

We provide accessible places and spaces where families can access time together, away from the stresses of hospital and home at our purpose-built facility The Bluebells in Hampshire, and at our day centre, The Woodlands, in Berkshire. Plans to develop the latter facility and to add accommodation and hydrotherapy facilities have been on hold for some considerable time, due to the pandemic and considering escalating costs.

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Sebastian's Action Trust

Trustees' Report

Outreach Family Support

We support families with assigned key workers who tailor support according to the specific needs of the family. From providing vital transport to hospital, to attending meetings, or taking a family for a simple walk in the park, outreach workers become an indispensable source of support in extreme and changing times. When support is given, families with a child with a life-limiting condition feel more equipped, less anxious, and more resilient, enabling them to provide better care for their seriously ill child.

Outreach Youth Support

Our specialist youth workers are trained to provide a safe, fun, and nurturing environment to help young people cope with the enormity of what is happening in their lives. Support is offered to the referred child and their siblings, who often struggle to understand the changes to their family dynamic and may need help with expressing their worries or frustrations. Youth workers also facilitate group activities to encourage peer support and build invaluable friendships. With tailored support, seriously- ill children and their siblings feel less isolated or angry and can find better coping strategies for facing the future.

Outreach Finance and Welfare

Without guidance and signposting, parents often struggle to access the right support at the right time. Our specialist worker can identify what is available and relevant to a family’s situation. Through access to specialist financial support and advice, families obtain the specialist equipment, services and measures considered essential to meet their needs.

Outreach Bereavement Care

We understand that facing the death of a child is likely to be the hardest, loneliest, and most painful ordeal a family will ever experience. We offer continuity of care before and after the death of their child. We walk alongside bereaved families for as long as they need us as we recognise that grief does not have a time limit. Families accessing bereavement support develop better coping strategies that help them live with their loss and many feel connected to a community that understands through personal experience.

Events, activities, and workshops

Families tell us that they often feel isolated by their child’s condition. We create opportunities to connect families with others who walk in similar shoes so they can offer and receive peer support in the knowledge that they are with others who do understand.

Our Family Services team organise over 100 activities and events each year. We encourage families to attend our family events and make memories together; but we also have separate parents’ and children’s activities to encourage peer support and develop new skills.

Our bereavement support team organises a wide array of remembrance or “butterfly” events, the biggest one being our annual Remembrance Day usually held in September.

During the year to 31st March 2023

We continue to evolve and grow in response to need, offering virtual and face-to-face support while offering face-to-face events where possible to reduce social isolation and enable families to connect with one another.

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Sebastian's Action Trust

Trustees' Report

2434 interactions of family care, providing emotional, social, and practical support through in-person one-to-one sessions or virtual support sessions.

187 online and face-to-face events, activities and workshops benefitting 3846 participants, helping to keep our families connected.

76 breaks to 304 individuals/ 68 families were provided.

21,534 hours of support was given to families.

We introduced a sensory sleepover. This allowed supported children with more complex needs to have the opportunity to have a sleepover with their peers. This included a Sensory Music Session, a swim and massage. The children and families really enjoyed this and felt it brought them closer together.

We introduced The Popham Experience, a day full of thrills and adrenaline. This special fun packed day offered our supported families the opportunity to fly in planes, ride a hovercraft and go off-roading in a 4x4 - amongst many other new and unique experiences. Most seriously ill children are typically excluded from these sorts of experiences, so this day was indeed special.

We have seen a growth in complex needs as families adjust to the cost-of-living crisis. As a result, we have had to adapt our support to families and work alongside local foodbanks and reach out to the community and our supporters to provide families with bedding, toiletries, and necessities.

We supported 139 bereaved “butterfly” families, with 772 support sessions for parents and siblings.

Sadly in 2022-23 12 children who access our support died. Our Bereavement Support Team continued to provide a constant source of emotional and practical support to families, from helping to organise a child’s funeral, to ensuring support was available at any hour of the day, including graveside visits and simply being there to listen as families adjust to the new normal and life without a seriously ill child who had been the centre of their world.

We introduced a Twilight Remembrance Service at the Woodlands for families to attend and remember their child, and we continue to offer a Remembrance Service in the summer at our flagship site, The Bluebells. This is an opportunity for our bereaved families to come together and remember their child in a familiar environment, alongside others who have shared the experience, and with our teams who may have known the family and child for many years.

Fundraising disclosures

This year has been an extremely challenging one from an income generation perspective, reflecting what is happening across the charitable sector in the UK. The fallout from the pandemic has meant that there is increased pressure on charities for access to services, while the economic environment and cost of living crisis has impacted the ability to raise funds. We have been extremely fortunate in the past to have received funding from several large grant giving bodies, however a number of these have ended this year and we are working hard to replace them.

Our shops, Bas Books in Bracknell, and Bas Books & Home in Newbury, continue to provide valuable cashflow, volunteering opportunities and help raising awareness in our communities.

By reference to the principles of responsibilities of the Trustees regarding charity fundraising below, we have met the requirements of the Act whilst recognising we have considerable work to do to safeguard the future of the charity.

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Sebastian's Action Trust

Trustees' Report

By reference to the principles of responsibilities of the Trustees with regard to charity fundraising below, we have met the requirements of the Act.

1.Planning effectively - The charity's approach to monitoring of all activities undertaken by the charity or by any person on behalf of the charity for fundraising.

The Trust's response : The Board of Trustees, together with the Senior Management Team, decide on our overall approach to getting the resources we need to fund our work. We operate an agreed fundraising strategy, which upon completion and acceptance by the Board is shared with the staff for execution. This includes the fundraising methods, the resources, and the costs this will incur, the financial, reputational, and other risks the charity may face and how they should be managed/avoided, together with how our fundraising reflects our values.

Regular monitoring of progress against the strategy is actioned by the SMT and by the Board. All fundraising is undertaken by in house fundraisers; no professional fundraiser or commercial participator is used by the Trust. There were no compliance issues with the applicable fundraising scheme or standard. The charity is not subject to any undertaking to be bound by any voluntary scheme for regulating fundraising or any voluntary standard of fundraising.

2. Supervising fundraisers - How our Trustees have systems in place to oversee the fundraising which others carry out on behalf of the charity. It includes responsible delegation so that staff and volunteers know what is expected of them.

The Trust's response: As a Board we delegate the day-to-day management of fundraising to our Senior Management Team and indirectly to the fundraising staff. We operate effective systems to show how delegation is communicated (through the organisational chart and individual job descriptions), understood and implemented. We believe our staff are accountable and work within the parameters we have set. We receive regular, fully documented reports on an agreed basis, presented in a manner we have agreed to ensure understanding, which allows us to exercise proper oversight. Additionally, we have clear, established processes for the recruitment and engagement of volunteers. There are effective systems in place so that volunteers get appropriate training and know they must comply with policies and procedures.

3. Protecting our charity's reputation, money and other assets - Having effective systems in place to identify reputational risks and to plan for their management, planning for the charity resources we use to fundraise, managing (and justifying) fundraising costs and protecting money raised in our name.

The Trust's response : We have systems in place to identify and manage the key reputational risks our charity may face from its fundraising. We take into consideration donor, supporter and public perception when deciding about income expectations and other goals. We comply voluntarily with the Code of the Fundraising Regulator, and agree to ensure our fundraising is legal, open, honest, and respectful. We have not received any complaints about fundraising activities carried out by the charity or anyone on its behalf.

4. Identifying and ensuring compliance - Ensuring our charity has sufficient information and appropriate advice to ensure our fundraising complies with all relevant legal rules.

The Trust's response: We have systems in place to ensure legal compliance relating to a range of activities, including displaying our registered charity status, collecting cash in the street, lotteries and raffles, data protection when collecting or handling personal details, avoiding unsolicited calls, event fundraising and activities involving children. We do not employ external agents to fundraise on our behalf and do not undertake activities such as collecting door to door.

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Sebastian's Action Trust

Trustees' Report

5. Identifying and following recognised standards - Having regard to the Fundraising Regulator's Code of Fundraising Practice.

The Trust's response: We have introduced effective systems so that our charity complies with any standards which apply to our fundraising. Using the recognised standards set out in the Code of Fundraising Practice, we ensure our face-to-face fundraising is in line with our agreed training protocols, that records are maintained on the issue and return of charity materials and that we do not share personal data. Lastly, and in accordance with GDPR, we include opt-out information on fundraising communications sent to named individuals.

6. Open and accountable - Complying with relevant statutory accounting and reporting requirements on fundraising and using reporting to demonstrate our charity is well run and effective.

The Trust's response: We have effective systems in place so that our fundraising is explained clearly and openly, fully complies with accounting and reporting obligations and is appropriately open to challenge by complainants. Last year we received no complaints relating to our fundraising activity or undertakings.

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 by the Charity Commission for England and Wales.

A principle of equity of access to care is upheld, according to assessed need, and services are offered to any member of the public within those criteria without discrimination. Care, free of charge, is provided to our beneficiaries irrespective of capacity, ethnicity, faith or social economic environment. A referral process is in place to ensure that those who meet the criteria are offered support by the Trust. Referrals may come from any source including health care professionals and families themselves.

Sebastian’s Action Trust is increasingly acknowledged within the NHS and social services as a specialist provider of emotional, social and practical support to families of life-limited and life-threatened young people. This demonstrates clear and significant public benefit through its outreach, specialist services and respite care.

Through successful campaigning, the Trust contributes to a better understanding of the impact of a child’s diagnosis on the entire family, together with the myriad of challenges this presents.

Use of volunteers

Volunteers make a large and important contribution to the work of Sebastian’s Action Trust, helping at family and fundraising events, in the Trust’s charity shops, or as part of our corporate programme for business to help maintain our facilities as part of their ongoing Corporate Social responsibility programmes.

In the financial year ending 31st March 2023 the Trust benefitted from a total of 9,117 hours of volunteer support. This was a significant increase from last year and the support was via corporate volunteer days, support with our Family Services team, help at fundraising activities and support in both our shops.

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Sebastian's Action Trust

Trustees' Report

Financial review

Financial Performance

2022/23 was a challenging year for Sebastian’s Action Trust in relation to fundraising and retail. Many charities have found the cost-of-living crisis impacted donations as donors’ review spending to meet their personal financial obligations. Our corporate supporters too have scaled back some of their giving, and trusts and foundations are giving to fewer causes, giving smaller amounts to enable them to continue to support the charities that rely on them, and many trusts are feeding back that they are considerably oversubscribed. This is in line with the picture anticipated at the outset of the financial year, by several umbrella bodies such as the Institute of Fundraising.

We finished the year with a small uplift on the previous year, which was a negative picture overall.

In line with the Charity Commission’s guidance, we are working on measures to improve this in 2023/24 including reviewing our operation and fundraising with a view to spreading income risk over more income streams and introducing regular giving to expand our supporter base.

Policy on reserves

At the year end the Trust held reserves of £3,033,224 (2022: £3,031,623) of which £1,109,388 are unrestricted (2022: £1,031,559) and cash balances of £2,056,941 (2022: £1,125,640).

Reserves are held to enable the Trust to continue to help beneficiaries and to secure the future of the charity even in years where income is less than expenditure. The Trustees have reviewed the charity’s reserves policy and agreed that the policy of holding at least four month’s operating costs should be maintained. On 31st March 2023, the level of reserves exclusive of restricted reserves for future capital projects is in line with the policy.

Going concern

Trustees monitor the financial position of the Charity monthly and given the challenging environment for fundraising, the Board has established a Finance Committee to track performance very closely. In addition, the Board are working closely with the CEO and Senior Managers to explore options for developing income and controlling costs. Investment in our income generation model must continue to ensure that we can continue to provide a vital service for beneficiaries. All capital projects have been suspended, except for those where we have secured all the necessary funding. The trust will not underwrite any capital projects for the near future.

Forecast

A prudent financial forecast to end March 2025 has been completed and shows a deficit (at end March 2025) of £443k. Parallel workstreams are in progress exploring cost saving measures, refinancing, and disposal of assets to ensure we offset this deficit. Several costs saving scenarios are being considered, with a view to retaining some elements of the services we currently provide.

The charity has sufficient assets and reserves to meet current and future liabilities and as such the Trustees are confident that the charity continues to be a going concern.

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Sebastian's Action Trust

Trustees' Report

Reference and Administrative Details

Charity Registration Number: 1151146
Company Registration Number: 08339436
Registered Office: The Woodlands
Upper Broadmoor Road
Crowthorne
Berkshire
RG45 7FN
Auditor: Stewart & Co Accountants LLP
Knoll House
Knoll Road
Camberley
Surrey
GU15 3SY
Bankers: Handelsbanken
Ascot
2 Queens Square, Ascot Business Park
Ascot
Berkshire
SL5 9FE

Trustees and officers

The trustees and officers serving during the year and since the year end were as follows:

Trustees: Mark Courage Linda Patterson Brendan Dean Fiona Wright (appointed 21 March 2023) Vicky Westbrook (appointed 23 March 2023) Julian Hodder (appointed 18 April 2023) Mark Parsons (resigned 25th January 2023) Fiona Parsons (resigned 11th April 2023) Chief Executive Officer: Hazel Bedford (appointed 15 May 2023) Secretary: Mark Courage

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Sebastian's Action Trust

Trustees' Report

Senior Management / Leadership Team:

Jane Gates, Chief Executive Officer (resigned 1 June 2022)

Elspeth Mackeggie Gurney, Finance Manager (Retirement 31 May 2022)

Jane Westley, Trusts and Foundations Manager (resigned 11 April 2022)

Simon Lillywhite, Fundraising and Communications Manager (resigned 2 August 2022)

Nick Mann, Facilities Manager

Lorraine Mace, Executive Manager (resigned 2 September 2022)

Caroline Hall, Finance Manager (appointed 1 June 2022)

Gary Muddyman, Interim CEO (appointed 1 June 2022 and resigned 15 May 2023)

Assunta Soldovieri, Head of Family Services

Ruth Paley, Trusts and Foundations Manager (appointed 11 April 2022)

Alison Evans, Head of Fundraising (appointed 2 August 2022)

Amy Samuel, Executive Assistant (appointed 2 September 2022)

Lorraine Mace, Head of Family Services (Maternity cover) (appointed 9 January 2023)

Hazel Bedford, Chief Executive Officer (appointed 15 May 2023)

Structure, governance and management

Nature of governing document

Sebastian's Action Trust is a registered charity (Number 1151146) and a charitable company limited by guarantee (Number 8339436), incorporated on 21st December 2012, having registered previously as an unincorporated charity on 9th August 2004. The company was established under a Memorandum of Association which sets out the objects and powers of the charitable company and is governed under its Articles of Association.

Recruitment and appointment of trustees

There is a Board of Trustees comprising 6 members.

Induction and training of trustees

New Trustees are inducted through briefings by the Chair and executive management, together with the provision of a Trustee starter pack. The induction process includes visiting both Trusts’ sites, meeting key personnel and shadowing staff who are delivering frontline support to beneficiaries. Ongoing training and updates are provided, with attendance at service delivery events encouraged to establish a greater understanding of the challenges faced by our beneficiaries and the charity.

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Sebastian's Action Trust

Trustees' Report

Arrangements for setting key management personnel remuneration

The remuneration of the Chief Executive Officer and other senior management is set by the Board having regard to the market rate for the same roles in similar sized charities. Pay increases are awarded annually at the discretion of the Trustees in line with inflation.

Organisational structure

The Board delegates management of day-to-day activities to the Chief Executive (CEO) who is responsible for ensuring that the strategy and policies are implemented. The Senior Management Team (SMT) reports to the CEO and meets formally every two weeks. Members of the SMT are as follows:

Jane Gates* Chief Executive Officer
Gary Muddyman** Interim CEO
Hazel Bedford (appointed 15 May 2023) Chief Executive Officer
Caroline Hall (Previously Elspeth Mackeggie Gurney – Left 31st May 2022) Finance Manager
Assunta Soldovieri (appointed February 2022) (Previously Katie Cowie – Left
November 2021) Head of Family Services
Trusts
and
Foundations
Ruth Paley (Previously Jane Westley – Left 11th April 2022) Manager
Alison Evans (Previously Simon Lillywhite – Left 2nd August 2022) Head of Fundraising
Nick Mann Facilities Manager
Amy Samuel (Previously Lorraine Mace – Left 2nd September) Executive Assistant
* Moved to Founder and Life President WEF 01 June 2022

** Interim for maximum of 1 year pending a permanent appointment

On-going training plans are in place for all employees including (but not limited to), Professional Development, Operational Development, Regulations and Safeguarding.

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Sebastian's Action Trust

Trustees' Report

Relationships with related parties

Conflicts of interest, if any, are declared at Board meetings. There were no conflicts of interest reported during the year. If any such conflict arises, the Trustee is excluded from any decision related to it.

Major risks and management of those risks

Sebastian's Action Trust strives to achieve a culture where risk management is everyone's business, embedded in the core systems, processes and business of the charity.

Overarching responsibility for managing risks sits with the Board of Trustees. The Trustees consider that the charity's systems ensure that these risks are managed to an acceptable level. The risk management strategy forms part of the annual planning process against which the Trustees regularly review progress. The Trustees review the risk register twice a year.

Staffing

Inability to recruit key staff to provide services across the organisation,

Staffing

Risk to the mental and physical health of employees and volunteers working with our beneficiaries

Financial

Unanticipated drop in forecast income

Organisational change

As a result of conduct by a member of staff or volunteer

Organisational change

Increase in referrals beyond capacity

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Sebastian's Action Trust

Trustees' Report

Electronic communication failure

A breakdown of the organisation's electronic and telephonic communications systems

Safeguarding

Management of the Trust’s obligations under The Children Act 1989 and observance of the recommendations in ‘working together to safe guard children’

Plans for the future

There was considerable change at Sebastian’s Action Trust in 2022/2023, with key staff leaving the charity, including the charity’s founder and CEO. A number of significant grants ended, and new funding plans are needed.

With the appointment of a new CEO in May 2023, further change is anticipated as the charity navigates the post-covid environment, repositions and relaunches with a greater focus on collaboration and sustainable funding.

The development of the Woodlands, the Charity’s facility in Crowthorne, Berkshire, is on hold whist the charity becomes more financially secure. Funding that was secured for this project has either been returned or re-restricted.

Further work will be done to establish the validity of the charity’s services, outcome measures and risk management.

Disclosure of information to auditor

Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

Statement of trustees' responsibilities

The trustees (who are also the directors of Sebastian's Action Trust for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

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Sebastian's A¢tion Trust Trustees, Report stste whether applicable accouniing stsndards, comprising FRS 102 have been followed, subject to any material depanures disclosed and explained in the financial statements., and pi"epare tl)e financial statemei)ts on the going cot)cem basis unless it is inappropriate to presume that the charitable compan>. will contii)ue in business. The trustees are responsible for keeping proper accounting records that can disclose ivith reasonable accuracy at any time the financial position of Ihe charitable company and enable them to ensure that Ihe f1nancial statements comply with the Companies Act 2006. They are also responsihle for safeguardiiig the asseis of the charitable company wid hence for taking reasonable steps for the prevention and detection of fraud gnd other irregulariti¢s. The trustees are respoiisible for the maintenance and integrity of the corporate and financial infomiation included on the charitable coinpany's web5lte. Legislation governing the preparation and di5seinination of financial statements may differ from legislation in other jurisdictions. The annual report was approved by the trllstees of the charity on 18 December 2023 and Signed on its behalf by.. SIGNED SECURELY 2DIIW2DX al￿..￿..￿$ AM UTC Fiona Wri¥ht Trustee Page 13

Sebastian's Action Trust

Independent Auditor's Report to the Members of Sebastian's Action Trust

Opinion

We have audited the financial statements of Sebastian's Action Trust (the 'charity') for the year ended 31 March 2023, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Material uncertainty related to going concern

We draw attention to Note 26 in the financial statements, which indicates that the charity has raised a surplus of £1,601 during the year ended 31st March 2023, (2022 - deficit of £13,343) and as of 31st March 2023 the charity had reserves of £3,033,224. As stated in Note 26, the events detailed in the note, indicate a material uncertainty exists that may cast significant doubt on the charity's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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Sebastian's Action Trust

Independent Auditor's Report to the Members of Sebastian's Action Trust

Opinion on other matter prescribed by the Companies Act 2006

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Auditor responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud, we have obtained an understanding of the nature of the industry, the control environment and the legal and regulatory frameworks that the charity operates in.

We determined that the most significant applicable legal and regulatory frameworks are those directly relevant to the reporting framework and preparation of the financial statements (FRS 102, Companies Act 2006 and UK tax legislation). We considered the extent to which non-compliance might have a material effect on the financial statements.

We determined the principal risks which could lead to material misstatement of the financial statements to be related to posting inappropriate journal entries and management bias in accounting estimates. We consider there to be no significant risks in respect of accounting estimates.

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Sebastian's Action Trust

Independent Auditor's Report to the Members of Sebastian's Action Trust

Audit procedures performed by the engagement team included:

The engagement team also remained aware of the need for professional scepticism to identify any indications of fraud or non-compliance with laws and regulations throughout the audit.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud, we have obtained an understanding of the nature of the industry, the control environment and the legal and regulatory frameworks that the charity operates in.

We determined that the most significant applicable legal and regulatory frameworks are those directly relevant to the reporting framework and preparation of the financial statements (FRS 102, Companies Act 2006 and UK tax legislation). We considered the extent to which non-compliance might have a material effect on the financial statements.

We determined the principal risks which could lead to material misstatement of the financial statements to be related to posting inappropriate journal entries and management bias in accounting estimates. We consider there to be no significant risks in respect of accounting estimates.

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Sebastian's A¢tion Trust Independent Auditor's Report to the Members of Sebastian's Aetion Trust Use of our report This report is made solely to the chai'itable coinpany's trustees. as a body, in accordance with Chapter 3 of Part 16 of the Companies Aci 2006. Our audii Ivork has been undertaken so thai we might state to the charity's trustees those matters we are required to sthie io them in an auditor's report and for no oihei. putyose. To the fullest exteni permitted by law. we do not accept or assume responsibility to anyone oiher than the charitable company and its trustees as a body, for our audit work. for this report, or for the opinions we have fornied. ¢a Lucy Evans Bsc BFP FCA (Senior Stamtory Auditor) For and on behalf of Stewart & Co Accountant5 LLP, Statutory Auditor Knoll House Knoll Road Camberley Suirey GU15 isy 20 Deceinber 2023 Page 17

Sebastian's Action Trust

Statement of Financial Activities for the Year Ended 31 March 2023 (Including Income and Expenditure Account)

Note
Income and Endowments from:
Donations and legacies
3
Other trading activities
4
Investment income
5
Other income
6
Total income
Expenditure on:
Raising funds
7
Charitable activities
8
Total expenditure
Net (expenditure)/income
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
17		 Unrestricted
funds
£
528,419
413,109
29
2,160
943,717
(605,313)
(517,064)
(1,122,377)
(178,660)
256,489
77,829
1,031,559
1,109,388		 Restricted
funds
£
767,357
1,650
-
-
769,007
(10,308)
(578,438)
(588,746)
180,261
(256,489)
(76,228)
2,000,064
1,923,836		 Total
2023
£
1,295,776
414,759
29
2,160
1,712,724
(615,621)
(1,095,502)
(1,711,123)
1,601
-
1,601
3,031,623
3,033,224

The notes on pages 22 to 42 form an integral part of these financial statements. Page 18

Sebastian's Action Trust

Statement of Financial Activities for the Year Ended 31 March 2023 (Including Income and Expenditure Account)

Prior Period Statement of Financial Activities

Note
Income and Endowments from:
Donations and legacies
3
Other trading activities
4
Investment income
5
Other income
6
Total income
Expenditure on:
Raising funds
7
Charitable activities
8
Total expenditure
Net (expenditure)/income
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
17		 Unrestricted
funds
£
568,910
295,220
18
2,160
866,308
(385,993)
(503,464)
(889,457)
(23,149)
(65,843)
(88,992)
1,120,551
1,031,559		 Restricted
funds
£
555,364
3,357
-
-
558,721
(11,391)
(537,524)
(548,915)
9,806
65,843
75,649
1,924,415
2,000,064		 Total
2022
£
1,124,274
298,577
18
2,160
1,425,029
(397,384)
(1,040,988)
(1,438,372)
(13,343)
-
(13,343)
3,044,966
3,031,623

All of the charity's activities derive from continuing operations during the above two periods. The statement of financial activities includes all gains and losses recognised in the year.

The funds breakdown for 2023 and 2022 is shown in note 17.

The notes on pages 22 to 42 form an integral part of these financial statements. Page 19

Sebastian's A¢tion Trust (Registration number: 08339436) Balance Sheet as at 31 Mareh 2023 2023 2022 Note Fi%ed assets Tangible assets Investments 14 15 2,350,914 81 2.346,709 81 2,350,995 2.346,790 Current assets Stocks Debtors Cash at bank and in hand 23 28 27 35,835 76,976 2,056,941 16,777 153,678 1,125,640 2.169,752 1.296,095 Creditors.. Amounls falling due within one year 29 (1,094,003) (192,966) Net Current a$5et5 1,075,749 I,IOi,129 Total assels less Current liabilities 3,426,744 i.449,919 Creditors.. Amounts falling due after More than one year 21 {393,520) {418,296) Net assets 3,033,224 3,031,623 Funds of the charity: Restricted 1.92i,836 2,000,064 Unrestricted income funds Designated Fund5 General Funds 342,004 767,384 245,017 786,542 Total unrestrirted funds 1,109,388 1,031,559 Total funds 17 3,033,224 3,031,623 These financial statements have been pr¢par¢d in a¢cordan¢e with the provisions applicabl¢ to ¢omppnies subjert to th¢ small companies regime. The fJnan¢ial statements on pages 18 to 42 were appioved by the trustees, and authorised for issue on 18 Decembei 202) and si¥iied on their behalf by". SKJNED SECURELY 2011W2023 st 6..53..09AIA UTC Fiona Wright Trustee The notes on pages 22 to 42 form an integral part of these financial statements. Page 20

Sebastian's Action Trust

Statement of Cash Flows for the Year Ended 31 March 2023

Note
Cash flows from operating activities
Net cash income/(expenditure)
Adjustments for:
Depreciation
7
Investment income
5
Interest payable
7
Loss on disposal of tangible fixed assets
Working capital adjustments
Increase in stocks
23
Decrease/(increase) in debtors
28
(Decrease)/increase in creditors
29
Increase in deferred income
21
Net cash flows from operating activities
Cash flows from investing activities
Interest receivable and similar income
5
Purchase of tangible fixed assets
14
Net cash flows from investing activities
Cash flows from financing activities
Interest payable and similar charges
7
Repayment of loans and borrowings
29
Repayment of capital element of finance leases and HP contracts
24
Net cash flows from financing activities
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at 1 April
Cash and cash equivalents at 31 March		 2023
£
1,601
114,534
(29)
22,836
-
138,942
(19,058)
76,702
(466)
909,468
1,105,588
29
(118,739)
(118,710)
(22,836)
(22,000)
(10,741)
(55,577)
931,301
1,125,640
2,056,941		 2022
£
(13,343)
115,691
(18)
15,925
7,144
125,399
(6,503)
(86,540)
43,864
27,254
103,474
18
(81,359)
(81,341)
(15,925)
(22,000)
(9,794)
(47,719)
(25,586)
1,151,226
1,125,640

All of the cash flows are derived from continuing operations during the above two periods.

The notes on pages 22 to 42 form an integral part of these financial statements. Page 21

Sebastian's Action Trust

Notes to the Financial Statements for the Year Ended 31 March 2023

1 Charity status

The charity is a charity limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £Nil towards the assets of the charity in the event of liquidation.

The registered office is The Woodlands, Upper Broadmoor Road, Crowthorne, RG45 7FN.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

Sebastian's Action Trust meets the definition of a public benefit entity under FRS 102.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.

Page 22

Sebastian's Action Trust

Notes to the Financial Statements for the Year Ended 31 March 2023

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. It is the opinion of the trustees that due to the nature of the entity there are no assumptions or judgements that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Key sources of estimation uncertainty

Useful economic lives of tangible assets: The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. These are amended when necessary to reflect current estimates, based on economic utilisation and physical condition of the assets.

Income and endowments

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

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Legacy gifts are recognised on a case by case basis following the grant of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Deferred income

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:

Page 23

Sebastian's Action Trust

Notes to the Financial Statements for the Year Ended 31 March 2023

Gifts in kind

Gifts in kind are recognised in different ways dependent on how they are used by the charity:

(i) Those donated for resale produce income when they are sold. They are valued at the amount actually realised.

(ii) Those donated for onward transmission to beneficiaries are included in the Statement of Financial Activities as incoming resources and resources expended when they are distributed. They are valued at the amount the charity would have had to pay to acquire them.

(iii) Those donated for use by the charity itself are included when receivable. They are valued at the amount the charity would have had to pay to acquire them.

Other trading activities

Income from other trading activities is recognised when received.

Investment income

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support and governance costs incurred are apportioned across the charitable activities based on the time support staff spend working on each one.

Governance costs

Governance costs include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustee meetings.

Page 24

Sebastian's Action Trust

Notes to the Financial Statements for the Year Ended 31 March 2023

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £500.00 or more are initially recorded at cost.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate
Freehold land and buildings Between 1 and 50 years straight line on
cost
Plant and equipment Between 2 and 10 years straight line on
cost
Fixtures and fittings 20% - 33% straight line on cost
Computer equipment 25%- 50% straight line on cost
Motor vehicles 25% reducing balance
Building improvements Phases 4 & 5 Depreciation to be recognised on receipt
of planning permission

Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually, and whenever there is an indication that the asset may be impaired.

Fixed asset investments

Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.

Investment in subsidiaries

Investment in subsidiaries is included at cost less impairment value at the balance sheet date.

Page 25

Sebastian's Action Trust

Notes to the Financial Statements for the Year Ended 31 March 2023

Stock

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO). Items donated to the Charity for resale are not included in the financial statements until they are sold or distributed.

Items donated to the Charity for distribution to beneficiaries are recognised as stock, with the corresponding income recognised within donations and measured at fair value. Where it is impractical to assess the value of donated stock held for distribution to beneficiaries at the time of receipt, the value to the Charity of the gift is recognised within donations when it is distributed, with an equivalent amount recognised as charitable expenditure.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Page 26

Sebastian's Action Trust

Notes to the Financial Statements for the Year Ended 31 March 2023

Hire purchase and finance leases

Pensions and other post retirement obligations

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

Pension contributions are allocated to activities by reference to the activity staff members are employed to carry out. Pension contributions paid for staff funded by a restricted grant are allocated as a restricted expense.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Page 27

Sebastian's Action Trust

Notes to the Financial Statements for the Year Ended 31 March 2023

3 Income from donations and legacies

Unrestricted

Donations and legacies;
Donations and gifts
Legacies
Grants receivable
Donated goods and services		 Designated
£
7,003
-
-
-
7,003		 General
£
327,377
-
27,550
166,489
521,416		 Restricted
£
40,835
-
726,522
-
767,357		 Total
2023
£
375,215
-
754,072
166,489
1,295,776		 Total
2022
£
578,019
2,000
461,423
82,832
1,124,274

Donated goods and services includes food donated for emergency packs and toys & gifts for distribution to beneficiaries.

Grants received in the year
National Lottery Community
Fund - Outreach Services
BBC Children in Need - Youth
Support Workers
BBC Children in Need - Post
Covid Recovery
Berkshire Community Foundation
- Outreach services
The Henry Smith Charity -
Bereavement Care
Rothschild Foundation -
Bereavement care
Awards for All - Youth support,
art & gardening
Hospital Saturday Fund - Respite
breaks
Edward Gostling Foundation -
Facilities
Edward Gostling Foundation -
Other
St James Place Charitable
Foundation
Heart of Bucks - Outreach /
Respite for Bucks
Masonic Charitable Foundation
The Story of Christmas
Other grants		 Unrestricted funds
Designated
General
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
27,550
-
27,550		 Restricted
funds
153,628
41,798
-
13,521
39,042
8,667
9,950
2,000
66,667
100,000
150,000
4,364
-
-
136,885
726,522		 Total
2023
153,628
41,798
-
13,521
39,042
8,667
9,950
2,000
66,667
100,000
150,000
4,364
-
-
164,435
754,072		 Total
2022
152,246
9,824
45,600
-
41,400
5,000
9,999
-
-
-
-
21,105
50,000
126,249
461,423

Grants received from some donors have performance conditions attached and as such income is recognised in the period the performance conditions are met.

Page 28

Sebastian's Action Trust

Notes to the Financial Statements for the Year Ended 31 March 2023

4 Income from other trading activities

Unrestricted

Unrestricted
Income from fundraising events
Other income from other trading
activities		 General
£
243,058
170,051
413,109		 Restricted
£
1,650
-
1,650		 Total
2023
£
244,708
170,051
414,759		 Total
2022
£
155,683
142,894
298,577

Income from BAS Books amounted to £29,796 (2022: £27,730). Income from BAS Books and Home amounted to £133,479 (2022: £110,873).

5 Investment income

5
Investment income
Unrestricted
General
£
Interest receivable
29
6
Other income
Unrestricted
General
£
Rental income
2,160
7
Expenditure on raising funds
a) Costs of generating donations and legacies
Unrestricted
Note
Designated
£
General
£
Restricted
£
Other fundraising costs
-
184,797
-
Staff costs
-
280,247
8,650
Depreciation,
amortisation and other
similar costs
-
6,952
-
Allocated support costs
9
18,400
114,917
1,658
18,400
586,913
10,308		 Total
2023
£
29
Total
2023
£
2,160
Total
2023
£
184,797
288,897
6,952
134,975		 Total
2022
£
18
Total
2022
£
2,160
Total
2022
£
117,165
222,793
7,146
50,280
615,621 397,384

Page 29

Sebastian's Action Trust

Notes to the Financial Statements for the Year Ended 31 March 2023

8 Expenditure on charitable activities

Analysis by fund

Service delivery
Facilities
Raising awareness		 Unrestricted funds
Designated
£
General
£
52,000
295,041
8,800
117,122
800
43,301
61,600
455,464		 Restricted
funds
£
426,343
142,365
9,730
578,438		 Total
2023
£
773,384
268,287
53,831
1,095,502		 Total
2022
£
761,797
225,332
53,859
1,040,988

£517,064 (2022 - £544,759) of total expenditure on charitable activities was attributable to unrestricted and £578,438 (2022 - 537,524) to restricted.

Analysis by type

Activity
undertaken
directly
£
Activity
support costs
£
Service delivery
625,487
147,897
Facilities
188,295
79,992
Raising awareness
42,470
11,361
856,252
239,250
Analysis of costs of activities undertaken directly
Service
delivery
£
Facilities
£
Raising
awareness
£
Staff costs including
contractors
441,037
-
24,313
Depreciation and impairment
21,948
82,568
-
Rent and utilities
-
38,914
-
Repairs and maintenance
-
52,614
-
Insurance
-
14,199
-
Travel and subsistence
28,865
-
-
Direct costs
131,250
-
18,157
Training
2,387
-
-
Loss on disposal of tangible
assets
-
-
-
625,487
188,295
42,470		 2023
£
773,384
268,287
53,831
1,095,502
Total
2023
£
465,350
104,516
38,914
52,614
14,199
28,865
149,407
2,387
-		 2022
£
761,797
225,332
53,859
1,040,988
Total
2022
£
452,938
106,038
26,950
57,116
10,738
17,886
157,647
7,191
6,812
856,252 843,316

Page 30

Sebastian's Action Trust

Notes to the Financial Statements for the Year Ended 31 March 2023

9 Analysis of support costs

Support costs
Staff costs
Rent and utilities
Repairs and maintenance
Printing, postage and
stationary
Subscriptions
Training
Sundry
Interest and charges
Computer costs
Depreciation
Legal and professional
fees
Governance costs
Audit fees
Trustees' meeting
expenses		 Expenditure
on Raising
Funds
£
106,182
1,193
926
1,891
855
112
787
9,568
3,069
1,125
4,081
129,789
5,182
4
5,186
134,975		 Expenditure
Service
delivery
£
108,571
1,629
1,265
2,583
1,167
152
1,076
13,068
4,192
1,537
5,574
140,814
7,078
5
7,083
147,897		 on Charitable Activities
Facilities
£
Raising
awareness
£
72,469
8,496
312
119
448
92
494
188
223
85
29
11
-
79
2,500
952
802
305
294
112
1,066
406
78,637
10,845
1,354
516
1
-
1,355
516
79,992
11,361		 Total
2023
£
295,718
3,253
2,731
5,156
2,330
304
1,942
26,088
8,368
3,068
11,127
360,085
14,130
10
14,140
374,225		 Total
2022
£
177,710
4,358
5,650
5,308
1,891
-
725
18,094
9,558
2,866
15,467
241,627
6,325
-
6,325
247,952

10 Trustees remuneration and expenses

During the year the charity made the following transactions with trustees:

Trustee meetings incurred expenses for food and drink of £10 (2022: £nil)

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any other benefits from the charity during the year.

Donations made by the trustees without any conditions attached totalled £5,632 for the year (2022 - £9,968).

Page 31

Sebastian's Action Trust

Notes to the Financial Statements for the Year Ended 31 March 2023

11 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs		 2023
£
776,485
70,655
86,202
933,342		 2022
£
671,772
60,110
62,058
793,940

The monthly average number of persons (including senior management team) employed by the charity during the year was as follows:

the year was as follows:
Fundraising
Charitable Activities
Raising Awareness
Support Services		 2023
No
8
14
1
5
28		 2022
No
8
21
1
4
34

Contributions to the employee pension schemes for the year totalled £86,202 (2022 - £62,058).

No employee received emoluments of more than £60,000 during the year. During the year, £20,000 was paid to Jane Gates, ex-CEO/current Life President, in absence of pension contributions over her years of service. This payment was approved by both Gary Muddyman and Mark Courage.

The total employee benefits of the key management personnel of the charity were £359,017 (2022 - £279,645).

The services of volunteers amount to 9,117 hours of unpaid work (2022: 5,046 hours). Volunteers work in the Trust's bookshop, assist at fundraising events and befriend our families.

12 Auditors' remuneration

12 Auditors' remuneration
Audit of the financial statements
13 Taxation		 2023
£
14,130		 2022
£
6,325

The charity is a registered charity and is therefore exempt from taxation.

Page 32

Sebastian's Action Trust

Notes to the Financial Statements for the Year Ended 31 March 2023

14 Tangible fixed assets

Land
and
buildings
£
Plant
and
equipment
£
Cost
At 1 April
2022
2,514,881
306,826
Additions
-
30,295
At 31
March 2023
2,514,881
337,121
Depreciation
At 1 April
2022
448,626
127,347
Charge for
the year
59,954
30,814
At 31
March 2023
508,580
158,161
Net book value
At 31
March 2023
2,006,301
178,960
At 31
March 2022
2,066,255
179,479		 Fixtures
and
fittings
£
164,859
2,901
167,760
147,672
11,600
159,272
8,488
17,187		 Motor
vehicles
£
81,613
-
81,613
67,908
3,427
71,335
10,278
13,705		 Computer
equipment
£
Buildings
improvements
Phase 4 & 5
£
51,870
51,892
5,292
80,251
57,162
132,143
33,679
-
8,739
-
42,418
-
14,744
132,143
18,191
51,892		 Total
£
3,171,941
118,739
3,290,680
825,232
114,534
939,766
2,350,914
2,346,709

Assets held under finance leases and hire purchase contracts

The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:

Plant and equipment

2023 2022
£ £
2,727 31,518

Page 33

Sebastian's Action Trust

Notes to the Financial Statements for the Year Ended 31 March 2023

15 Fixed asset investments

Shares in group undertakings and participating interests
Other investments
Shares in group undertakings and participating interests
Cost
At 1 April 2022
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022
Other investments
Cost or Valuation
At 1 April 2022
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022		 2023
£
1
80
81
Subsidiary
undertakings
£
1		 2022
£
1
80
81
Total
£
1
1
1
1
Total
£
80
80
80
80
1
1
1
Listed
investments
£
80
80
80
80

Page 34

Sebastian's Action Trust

Notes to the Financial Statements for the Year Ended 31 March 2023

Details of undertakings

Details of the investments in which the charity holds 20% or more of the nominal value of any class of share capital are as follows:

Country of Proportion of voting rights Principal
Undertaking incorporation Holding and shares held activity
2023
2022
Subsidiary undertakings
Clover & Thistle Limited UK Ordinary 100%
100%		 Dormant
Company

The registered office of the subsidiary company is the same as the Charity.

16 Pension and other schemes

Defined contribution pension scheme

The charity operates a defined contribution pension scheme. The pension costs charge for the year represents contributions payable by the charity to the scheme and amounted to £86,202 (2022: £62,058).

Page 35

Sebastian's Action Trust

Notes to the Financial Statements for the Year Ended 31 March 2023

17 Funds
Unrestricted
General
Unrestricted funds
Designated
Charitable activity costs
Total Unrestricted
Restricted
Accessible play area
Activity days
Bereavement care
Bluebells running costs
Butterfly lodges
Cedars roof repairs
Hoists & equipment
House managers salary
Outreach running costs
Outreach salaries
Respite breaks
The Bluebells
The Woodlands
The Woodlands - Running costs
The Woodlands Phases 4 & 5
Vehicle
Woodland Trails
Youth Support
Other
Total restricted
Total funds		 Balance
at 1 April
2022
£
786,542
245,017
1,031,559
18,485
17,837
17,469
242
5,480
26,500
19,780
22,270
5,972
20,893
1,750
1,061,749
558,132
2,500
91,151
36,293
31,420
-
62,141
2,000,064
3,031,623		 Incoming
resources
£
Resources
expended
£
936,714
(1,042,377)
7,003
(80,000)
943,717
(1,122,377)
-
(1,849)
3,117
(20,954)
69,230
(69,230)
46,787
(44,029)
-
(2,295)
-
(1,322)
9,430
(3,600)
-
(22,270)
34,725
(39,697)
154,062
(161,205)
18,500
(20,250)
-
(21,268)
-
(10,683)
68,665
(31,500)
257,556
-
-
(1,524)
-
(1,571)
52,417
(48,104)
54,518
(87,395)
769,007
(588,746)
1,712,724
(1,711,123)		 Transfers
£
86,505
169,984
256,489
(5,360)
-
-
-
17,304
(1,382)
(16,074)
-
-
-
-
(264,164)
(190,464)
(39,665)
280,967
(30,198)
(4,022)
-
(3,431)
(256,489)
-		 Balance at
31 March
2023
£
767,384
342,004
1,109,388
11,276
-
17,469
3,000
20,489
23,796
9,536
-
1,000
13,750
-
776,317
356,985
-
629,674
4,571
25,827
4,313
25,833
1,923,836
3,033,224

The balance in designated funds at 31st March 2023 is to fund the following:

The transfer in year ending 31 March 2023 between restricted funds and general funds of £256,489 was made to reallocated historic depreciation which had not previously been offset against the relevant restricted fund.

Page 36

Sebastian's Action Trust

Notes to the Financial Statements for the Year Ended 31 March 2023

Unrestricted
General
Unrestricted funds
Designated
Charitable activity costs
Total unrestricted
Restricted
Accessible play area
Activity days
Bereavement care
Bluebells running costs
Butterfly lodges
Cedars roof repairs
Hoists & equipment
House managers salary
Outreach running costs
Outreach salaries
Respite breaks
The Bluebells
The Woodlands
The Woodlands - Running costs
The Woodlands Phases 4 & 5
Vehicle
Woodland Trails
Youth Support
Other
Total restricted
Total funds		 Balance
at 1 April
2021
£
939,306
181,245
1,120,551
20,596
17,837
214
3,850
5,480
1,000
23,963
-
5,501
24,524
5,917
1,084,848
522,916
3,750
53,151
38,629
31,422
630
80,187
1,924,415
3,044,966		 Incoming
resources
£
802,536
63,772
866,308
-
8,200
75,728
6,990
-
26,500
-
28,987
32,840
116,276
9,500
-
51,000
2,500
38,000
-
-
57,031
105,169
558,721
1,425,029
 Resources
expended
£
(889,457)
-
(889,457)
(2,111)
(8,200)
(58,473)
(10,598)
-
(1,000)
(4,183)
(6,717)
(32,369)
(119,907)
(13,667)
(23,099)
(15,784)
(3,750)
-
(2,336)
(2)
(61,183)
(185,536)
(548,915)
(1,438,372)		 Transfers
£
(65,843)
-
(65,843)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
3,522
62,321
65,843
-		 Balance at
31 March
2022
£
786,542
245,017
1,031,559
18,485
17,837
17,469
242
5,480
26,500
19,780
22,270
5,972
20,893
1,750
1,061,749
558,132
2,500
91,151
36,293
31,420
-
62,141
2,000,064
3,031,623

The balance in designated funds at 31st March 2022 is to fund the following:

The transfers between designated funds and general funds was made to ensure a sufficient balance was held within designated reserves to fund the costs as described above.

Page 37

Sebastian's Action Trust

Notes to the Financial Statements for the Year Ended 31 March 2023

Description of restricted funds

Description of restricted funds
Accessible play area Playground at Cedars
Activity days Funding for Activity Days for beneficiaries
Bereavement Care Funding for Bereavement Care
Bluebells running costs Running costs of The Bluebells
Butterfly Lodges Building of Butterfly Lodges
Cedars roof repairs Funding for the repair of the roof at Cedars, part of The Woodlands
Hoists & Equipment Provision of hoists & other specialist equipment
Salary and ongoing costs of employing a House Manager to support
House Managers Salary beneficiaries on respite breaks and other activities at the Bluebells
Outreach running costs Running costs of providing outreach services
Outreach salaries Salaries and ongoing costs of support workers
Respite breaks Provision of respite breaks for families
The Bluebells Building & extension of The Bluebells
The Woodlands Building & extension of The Woodlands
The Woodlands - Running costs Running costs of The Woodlands
The Woodlands - Phases 4 & 5 Building of The Woodlands - Phases 4 & 5
Vehicle Purchase of vehicle and running costs thereof
Woodland Trails Development of woodland trails in the grounds of The Woodlands
Salary and ongoing costs of employing specialist staff to support
Youth Support siblings of beneficiaries.
Other Combined other smaller donations and related expenses

Page 38

Sebastian's Action Trust

Notes to the Financial Statements for the Year Ended 31 March 2023

18 Analysis of net assets between funds

Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Creditors over 1 year
Total net assets
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Creditors over 1 year
Total net assets		 Unrestricted funds
General
£
Designated
£
472,417
-
81
-
1,782,409
342,004
(1,094,003)
-
(393,520)
-
767,384
342,004
Unrestricted funds
General
£
Designated
£
913,616
-
81
-
484,107
245,017
(192,966)
-
(418,296)
-
786,542
245,017		 Restricted
funds
£
1,878,497
-
45,339
-
-
1,923,836
Restricted
funds
£
1,433,093
-
566,971
-
-
2,000,064		 Total funds at
31 March
2023
£
2,350,914
81
2,169,752
(1,094,003)
(393,520)
3,033,224
Total funds at
31 March
2022
£
2,346,709
81
1,296,095
(192,966)
(418,296)
3,031,623

19 Financial instruments

Categorisation of financial instruments

Financial liabilities measured at amortised cost 2023
£
503,374		 2022
£
594,726

20 Related party transactions

There were no related party transactions in the year.

During the year the charity made the following related party transactions:

(Other than disclosed in notes 10 and 11 there were no other related party transactions in the year.) At the balance sheet date the amount due to/from was £Nil (2022 - £Nil).

21 Creditors: amounts falling due after one year

Bank loans
Hire purchase and finance leases		 2023
£
393,520
-
393,520		 2022
£
415,520
2,776
418,296

Page 39

Sebastian's Action Trust

Notes to the Financial Statements for the Year Ended 31 March 2023

22 Loans and overdrafts

22 Loans and overdrafts
Bank loans
hide
Payable within one year
Payable after one year		 2023
£
415,520
22,000
393,520
415,520		 2022
£
437,520
22,000
415,520
437,520

The long-term loans are secured by fixed charges over The Bluebells and The Woodlands as well as floating charges over the assets of the Charity.

The loans are repayable over 10 years by monthly instalments, a break clause is in place after 5 years and at an interest rate of 3% over LIBOR.

23 Stock

23 Stock
2023 2022
£ £
Stocks 35,835 16,777

24 Obligations under leases and hire purchase contracts

The total value of future finance lease payments are as follows:

Within one year
In two to five years		 2023
£
2,776
-
2,776		 2022
£
10,692
2,776
13,468

At the end of the finance lease term the equipment becomes the property of Sebastian's Action Trust. The lease contains no onerous or unusual terms.

Assets held under finance leases

The finance lease relates to a telephone system installed at The Woodlands premises. Total finance charges for the year amounted to £810 (2022: £1,757).

Page 40

Sebastian's Action Trust

Notes to the Financial Statements for the Year Ended 31 March 2023

25 Non-adjusting events after the financial period

The Trustees have decided post year end that The Woodland's Lodges Project is no longer feasible.

The restricted funds for this project have therefore been reallocated to other funds, unrestricted or returned following the consultation of donors.

Of the restricted funds for The Lodges, they have been consequently reassigned as follows:

£ Transferred to Unrestricted Funds 259,021 Transferred to Other Restricted Funds 11,556 Awaiting confirmation from funders 309,097 Refunded 50,000 629,674

26 Going Concern

The charity has raised a surplus of £1,601 in the year and reserves stand at £3,033,224 as of the 31st March 2023.

During 2022/23, there were notable changes in the senior leadership team and on the Board of Trustees. A new CEO was appointed, and their focus is on developing a new strategy, ensuring the charity has a clear vision and goals and can continue to fund its operation and provide vital support to beneficiaries.

A reduction in grant funding and an increase in running costs has meant the charity needs to make some further changes to ensure the charity's liquid cash will cover predicted costs. The charity has suspended all capital projects, except those for where funding has already been secured. A decision by the Board to stop developments at the Woodlands site following consultation with beneficiaries, will enable the charity to redirect funds into ongoing service provision. Whilst generating funds and managing cash flow remains a challenge, the charity is mitigating against this by restructuring its debts, disposing of an asset, developing a new fundraising plan and exploring measures to bridge any gap in cash flow. The Trustees are confident that these mitigations together with cost-reduction measures will future-proof the charity. As such, they believe the going concern status remains appropriate despite the inherent material uncertainties relating to the new strategy.

Page 41

Sebastian's Action Trust

Notes to the Financial Statements for the Year Ended 31 March 2023

27 Cash and cash equivalents

Cash at bank
28 Debtors
Prepayments
Accrued income
29 Creditors: amounts falling due within one year
Bank loans
Trade creditors
Hire purchase and finance leases
Other taxation and social security
Other creditors
Accruals
Deferred income
Deferred income
Deferred income at 1 April 2022
Resources deferred in the period
Deferred income at year end		 2023
£
2,056,941
2023
£
22,255
54,721
76,976
2023
£
22,000
59,986
2,727
14,620
5,668
19,473
969,529
1,094,003
2023
£
60,061
909,468
969,529		 2022
£
1,125,640
2022
£
66,641
87,037
153,678
2022
£
22,000
59,148
10,692
16,536
5,404
19,125
60,061
192,966
2022
£
32,807
27,254
60,061

Deferred income arises where grants are subject to a performance condition related to the timing of their use. These grants are released to income in accordance with the relevant time period.

Page 42