Company registration number: 08339436 Charity registration number- 1151146 Sebastian's Action Trust (A company limited by guardntee) Annual Report and Financial Statements for the Year Ended J l March 2025 Stewart & Co Accountants LLP Knoll House Knoll Road Camberley Surrey GU15 3SY Sebastian's Action Trust Contents Reference and Administrative Details Trustees, Report 2to 16 Independent Auditor's Report 17to20 Statement of Financial Activities 21to22 Balance Sheet 23 Statement of Cash Flows 24 Notes to the Financial Statements 25to43 Sebastian's Action Trust Reference and Administrative Details Charity Registration Number Company Registration Number Registered office 1151146 08339436 The Bluebells Popham Lane North Waltham Basingstoke Hampshire RG25 9BB Auditor Steivart & Co Accountants LLP Knoll House Knoll Road Camberley SU￿eY GU15 JSY Page I Sebastian's Action Trust Trustees, Report The trustees. Th'ho are directors for the purposes of company la￿, present the annual report together with the financial slatements of the chariiable company for the year ended J l March ?025. Objectives and activities Objects and aims Sebastian's Action Trust is a registered charity (Number 1151146) and a charitable company limited by guarantee (Number 83J9436), incorporaled on 21 December 2012, having previously operated as an unincorporated charity since 9 August 1004. The charity is governed by its Articles of Association and was established under a Memorandum of Association. which outlines its chariiable objects and powers. 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) Providing respite holidays and day visits- (b) Delivering etnotional, social. and practical support at critical times, including but not limited to emergency transport, wellbeing therapy. p5ycho-50cial care, sibling support, help at horne, and bereavement care- (c) Raising awarene55 of the need to improve Services and provisions for families of life-limited children. Sebastian's Action Trust offers a holistic model of care that supports families facing the challenges of childhood illness and bereavement. Our services are designed to reduce isolation, build community aTJd resilience, and provide meaningful assistance tailored to the needs of the whole family including parents, the ill child, siblings, grandparents. and caregivers. Support is delivered in different settings, including in community '"hubs" and through our dedicated facility The Bluebells in North Waltham, Hampshire. Here we offer short restorative breaks and day visits: providing families w'ith a safe, welcoming environment to rest, reflecl. and reconnect. Our strategy is underpinned by a team of service delivery staff, supported by a team of volunteers who contribute to all aspects of our work. Objeclives, Slrategies andAclivilie5 ffor FY ending March 2025) Strategic Context The financial year 2024-?025 wa5 a year of tran51tion and consolidation for Sebastian's Action Trust. Following significant organisational change in 2023-9094. including the appointment of a new CEO, a deep review of the charity's financial position and a fundraising review, the Board of Trustees focused on financial resilience, stabilising the charity and protecting CO￿ services. The charity continued to operate in a challenging external environment, with reduced fundraising income and increased pressure on unrestricied funds. In response to these circumstances. the Board implemented a recovery programme to ensure the charity's viability and lay the groundivork for futu￿ growth. Page 2 Sebastian's Action Trust Trustees, Report Strategic Focus in 2024-2025: The primary strategic focus during this financial year has been: Financial Stabilisation= Managing cashflow. delaying capital investments, and reducing operating costs by £300k per annum. Restructuring and Recovery: Scaling back services temporarilv. restructuring and slimming down the senior team, and concluding the sale of the charity's second site - The Woodlands in crO￿thorne. Berkshire - to release funds for reinvestment. Fundraising Review and Rebuild- Following the appointment ol interim leadership for fundraising, a new Head of Fundraising and Engauement ￿'aS recruited to diversify the charity's income, build the charity's brand and external profile, and recruit a neM' skilled and pernianent team. Service Continuity.. Maintaining core services for families with seriously ill children. despite reduced capacity, and ensuring solid foundations to rebuild when funds allow. Looking Ahead: Strategic Prioritie5 for 2025-2026 and Bcvond As the charity moves beyond recovery. the Board of Trustees identified three strategic priorities to guide future development.. Deepening Our Impact Through Quality Service Delivery Develop a new service delivery model aligned with a robust service delivery framework. b. Map the healthcare landscape and revise our eligibility criteria and catchment. Stren￿hen parnierships and introduce outcome measurement frameworks. Driving Sustainable Income GroMth a. Embed the new fundraising team and strategy. b. Diversify income streams and improve forecasting and return on investment tracking. Secure investment to support growth in high-potential areas. Investing in Organisaiional Resilience Build strategic volunteering capacity. b. Strengthen governance and fmancial oversight. Invest in The Bluebe115 Site to increase reach and improve existing facilities. These priorities will be reflected in a new Strategic plan. developed in 2025, setting out the charity'5 ambitions for the next three to five years. The year in numbers During the year to J I st March 2025 the charity provided: 5J restorative breaks, supporting approximately 245 individuals with time to resL reconnecl and recharge. 1,091 care interactions through in-person and virtual support sessions benefitting 1,551 individuals, tailored to meet families, emotional: social, and some practical needs. Page i Sebastian's Action Trust Trustees, Report 1,64J hours of dedicated I: I support, reflecting the depth and consistency of our support. 2J6 professional counselling sessions to 2J parents and adult siblings. Sadly, 12 children who accessed our services died during the year. We continue to support their families with compassion and care. 141 events, activities, and workshops both online and face-to-face brought families together. with 2,869 participants benefiting froTn connection. creativity. and community. This number is made up of 835 unique individuals. 499 day visits to The Bluebe115 to Use the hydrotherapy pool or for play session5, benefitting 651 unique individuals. Fundraising disclosures By reference to the principles of responsibilities of the Trustees with regard to charity fundraising below, we have met the requirements of the Act. l. Planning Effectively: The charity's approach io moniloring aclivilies underlaken by ihe charity or by person on behalf of ihe horityforfundraising. The Charity's Response: In January. ?O?i, Sebastian's Action Trust appoiTJted a new Head of Fundraising to build on the work initiated by the interim fundraising leader. This marked a strategic shift toward strengthening our fundraising function and embedding a more data-informed. supporter-focused approach We now have a fully Staffed fundraising team and are investing in: Data quality and segmentation: to improve targeting and engagement; Website functionality, to enhance user experience and streamline online giving; Supporter materials, to better equip individuals and groups fundraising on our behalf- Pipeline planning to give us a clear and transparent picture and enable us to budget and forecast with a greater degree of accuracy. Our fundraising strategy also prioritises: Monitoring perfonnance metrics. such as lottery sign-ups. supporter engagement and retention, and the ratio of restricted to unrestricted income. Income risk managemenL supported by a newly introduced RAG rating system to identify early warning signs and enable us to take timely action. GDPR compliance, ensuring responsible data handling and privacy protection. Page 4 Sebastian's Action Trust Trustees, Report 2. Supervising Fundraisers: Hom, Truslees have ryslems in place lo oversee iheftsndraising m.hich oihers carry otsl on behalf ofihe chority. Ii includes responsible delegalion so ihat Si￿rand voliinieers know whal is expecled ofihem. The Charity's Response: All fundraising activities are carried out by our in-house team. supported by interim and short-tenn contracted professionals. We do not engage external paid fundraisers or commercial fundraising partners, ensuring full oversight and accountability. Volunteer-led fundraising is actively supported and 5upervi5ed by staff, who provide guidance on areas such as budgeting and pricing- marketinu and promotion- and health and safety. Our team also ensures that all funds raised in the charity's name are appropriately returned and accounted for. The Head of Fundraising manages and supports the team. embeds behavioural standards, and reinforces best practice in line with the Fundraising Regulator's Code of Fundraising Practice. 3. Protecting Our Charity's Reputation: longv and Other Assets.. HL7ving effective ry51em5 in place lo identifi) repulational risks t7nd io plan.for iheir map7agemep7t, planningfor ihe charity resources Used iofundrai5e, managip7g (and juslifying) fvndruisip7g cosls ap7dprotecting monry raised in the charity s name. The Charity's Response: We are committed to transparency, ethical fundraisin& and safeguarding our reputation. All fundraising activities are conducted in accordance with regulatory stsndards and internal policies. We are pleased to report that no complaints were received regarding fundraising activities conducted by the charity or on its behalf during the period under review (April 2024 - March 2025). To protect our financial sustainability and reputation= We maintain clear financial reporting that distin(vuishes fundraising income and its use. We have introduced a RAG rating system to monitor income risk and support proactive decision-tnaking. We continue to invest in systems and processes that ensure compliance with statutory accounting, reporting, and data protection obligations. Page 5 Sebastian's Action Trust Trustees, Report 4. Identifving and ensuring complianee: Ensuring ihe charity has stsfficienl informalion and appropriale a(h.ice lo ensurefundraising complies wilh all relek'ani legal rules. The Charity's Response: We ensure that all fundraising staff and volunteers are fully infornied of their responsibilities and operate in compliance with all relevant legislation and regulatory standards. Our fundraising activities are overseen by two key bodies: The Charity Comtnission for England and Wales a non-tnini5terial government department responsible for regulating registered charities and maintaining the Central Register of Charities. The Fundraising Regulator an independent. non-statutory body that sets and promotes standards for fundraising across England. Wales, and Northern Irelan(t and manages public complaints. We are committed to upholding the standards outlined in the Fundraising Regulator's Code of Fundraising Practice, ￿'hICh is grounded in letral requirements. In addition. we coinply ￿'1th the Gambling Act 2005 and the Data Protection Act 2018, which incorporates the UK'S implementation of the General Dats Protection Regulation (GDPR). We also adhere to all relevant employment legislation. including laws governing contracts, minimum wage, working hours, and anti-discrimination. Our volunteer management practices are legally compliant and ensure clarity around the rights and responsibilities of volunteers. To safeguard our staff, volunteers, and beneficiaries. we invest in Health and Safety training and conduct regular risk assessments. We implement appropriate safety measures across our activities and premises. and our Health and Safety compliance is audited annually. We take particular care in activities involving children and vulnerable individua15. ensuring their safety, dignity, and well-being are prioritised in everything we do. 5. Identifying and following recognised standards: Having regard ¢0 the Fundraising Regulator's Code of Fundraising Practice. The Charity's Response: Commitment to Recognised Standards in Fundraising We are fully committed io upholding the standards set out in the Fundraising Regulator's Code of Fundraising Practice, ensuring that all our fundraising activiiies are legal, open, honesL and respectful. In line with the Fundraising Promise. we strive to maintain the highest slandards of integrity and transparency. We actively a(ihere to the Code and take sw'ift action to address any insLances where we may fall short. To demonstrate our commitment to best practice. we display the Fundraising Regulator badge on all fundraising materials. Sebastian's Action Trust Trustees, Report b. Transparency and Communication We pledge to communicate with clarity, honesty. and openness. We do not exaggerate or rnislead, and we are transparent about how donations are used and the impact they make. We explain our fundraising costs clearly, showing how they support our mission and benefit the families we serve. Our complaints process is accessible and straightforward. We provide clear, evidence-based responses to any concerns raised and ensure that complainants are treated with respect and fairness. Where appropriate, we signpost individua15 to the Fundraising Regulator. Respect and Protection of Stakeholders Respect is central to our approach. We never pressuri5e anyone to donate and always honour a donor's decision to stop supporting us. We take particular care when engaging with individuals in vulnerable circumstances, guided by our internal policy, which is available on request. We comply with all legal requirements regarding consent and communication preferences. We have ongoing work to improve our data quality and compliance requirements. We work with the Mailing Preference Service, and Fundraising Preference Service to ensure that individuals, wishes are respected. d. Faimess and Sensitivity We treat all supporters and stskeholders equitably. adapting our approach to meet individual needs. We avoid using language or imagery that could cause distress or an.Kiety, and we ensure our fundraising activities do not cause nuisance or disruption to the public. Accountability and Continuous Improvement We take responsibility for the impact of our fundraising and manage resources with care. We monitor and record all complaints annually and share this data with the Fundraising Regulator Th'hen requested. We use this information to improve our practices and uphold public trust. We recognise that the Code reflects leual Standards but Is not a legal manual. Fundraising laM.- 15 complex and evolving, and M'here further guidance is needed, we seek external legal advice. In cases where the Code and legislation differ. we follow the law. Public benefit The Trustees of Sebastian's Action Trust conlinue to uphold the requirements of Section 17 of the Charities Act 201 l. giving due regard to the Charity Commission's guidance on public benefit. This legal duty ensures that all activities carried out by the charity demonstrably serve the publlc go(xl and are aligned with its charitable purposes. Throughout a period of significant transformational change. the Trustees have remained focused on the needs of the families we support. Every decision is made with careful consideration of how it w'ill benefit our service users, both now and in the future. Over the past year, we have undertaken a strategic redesign of our services to ensure long-terni sustainability and resilience. These changes are guided by our commitment to delivering Tneaningful and measurable public benefit. As part of thi5 process, we are developing clear outcomes and itnpact measure5 to evidence the value and effectiveness of our work. Page 7 Sebastian's Action Trust Trustees, Report Our aim is to ensure that Sebastian's Aclion Trust continues to provide essential, high-quality support to families of seriously ill children, while remaining responsive lo changing needs and extemal challenges. By embedding public benefit at the heart of our strategy and operations. we reaffinn our dedication to making a lasting difference in the lives of those we serve. Use of volunleer5 Volunteers are an inteural part of Sebastian 5 Action Trust. contributing their time. energy, and expert15e across many areas of our work. Many of our volunteers have supported the charity for over a decade, demonstrating deep commitment to our mission and the families we serve. Volunteers support a wide range of activities. including fundraising events. street and private site collectioiis, family activity days. and our charity book shop. ￿"hICh is entirely volunieer run. with governance support from us. Volunteer-led fundraising is a grow.ing area for ihe Charity. and we are actively developing the processes and resources needed to support and expand this work effectively. During 2024125, we refined our approach to corporale volunteering. Historically, corporate volunteers have primarily helped with maintenance tasks at our facilities. We are now reshaping this offer to improve the retum on investment, aiming to build slralegic. sustainable. and mutually beneficial partnerships that go beyond one-off volunteering or fundraising, and align more closely with our long-tenn goals. In 2024125, our volunteers generously contributed 5971 hours of service. We currently have 256 registered volunteers, each playing a vital role in supporting the charity"s operations and impact. We have also begun recruiting volunteers to support our central administration and are developing specialist volunteer roles across all areas of our work. These roles will. in time. include direct support for families, delivered under the supervision ol our trdined staff team, ensuring quality and safeguarding standards are upheld. To support this critical strategic development, we will recruit and invest in building a robust governance frarnework, along with the necessary processes and mechanisms to ensure effective governance, safeguarding, and accountability. Financial review 2024125 was another challenging year for Sebastian s Action Trust. as anticipated. The ongoing cost-of-living crisis continued to affect all income streams. placing signifjcant pressure on our financial sustainability. Income decreased by 17 %, while expenditure decreased by 19 /0. Expenditure was carefully managed through a recruitment freeze and targeted cost-cutting measures. helping to offset the decrease in income. This financial picture reflects broader sector trends, with many charities particularly smaller organi5ations reporting losses, implementing c05t reductions, or ceasing operations altogether. At the end of the previous financial year (?0?31?4). we reported a deficit of £782.i66, in line with our reforecasting. In response: we initiated a comprehensive change progratntne in May 2024 aimed at reversing this trajectory. While we end 2024125 with a further deficit of £608.437. it is significantly lower than the previous year's outturn. Sebastian's Action Trust Trustees, Report Key actions taken during this period include= Sale of The Woodlands site. completed in July 2025. generating £ 1,000,000 to boost reserves and safeguard frontline services. The financial movements relating to the sale are reflected in the 2025126 accounts. Reducing staff numbers, with staff reallocated to priority areas and supported by an expanded volunteer base. Scaling back our events and gift5 programme lor beneficiaries, while retaining core elements of service delivery to ensure continuity and room for future growth. Suspending production of high-cost publications, including g1055y brochure5 and impact report5. Engaging with local charities to ensu￿ families continue to access support. even where services are not directly provided by us. Requesting the derestriction of existing funds from key funders to allow greater flexibility in meeting urgent needs. We have followed the Charity Commission's guidance on managing financial difficulties: L￿Ing proactive steps to reduce costs, protect essential services, and plan for recovery. The Board of Trustees remains confident that the charity h&s sufficient cashflow to meet its obligations and continues to operate as a going concern. Policy on reserves At the year end the Charity held reserves of £1,64? ?21 (in 202)-?094 this figure was £2,250,658), and cash balances of £1,071,945 (in 2023-2024 this figure ilias £65),825 (restated)). We maintain a reserves policy to ensure the sustainability and resilience of our services, particularly those supporting families at The Bluebells. Trustees ￿vIeW this policy annually to ensure it reflects current risks, strategic priorities, and operaiional needs. During the period under review, our target was to hold unrestricted reserves equivalent to four months, operating costs, based on risk assessments including income volatility, service continuity, and the need to respond flexibly to emerging needs and unexpecied events. How'ever, in light of the economic cliinate and increasing pressures on fundraising. trustees have agreed io revise this Lqrget and build our free reserves to the equivalent of six months. operaling costs. At present, our free reserves stand at 6.1 months. and our strategy is to build and mainlain this six-month buffer to safeguard our core services for life-limited children and their families. It is important to note that free reserves differ from free cash. Free cash is money in our bank, whereas free reserves refer to the money we have available to spend. after liabilities such as loans and other financial obligations. Free reserves provide a more accurate picture of the funds available to sustain our essential work. Designated Reserve5 It is at the discretion of the trustees whether fund5 are designated at the end of a financial year or not and this year, the decision has been made not to desidiate any tund5. Page 9 Sebastian's Action Trust Trustees, Report Unrestricted Funding As a small, local charity, our public fundraising is focused on enabling us to deliver frontline services. Unrestricted funding funds our general purpose, is essential to our ability to deliver a high-quality, safe, and responsive service. It enables us to- Support the whole organisation, not just isolated projects. Invest in infrastructure and risk managemenL including fundraising capability, IT systems, digitisation, cyber security, and staff training. Respond quickly to crises or opportunities. without waiting for project-5pecific funding. Unrestricted funding reduces risk by ¢reaiing a more sustainable. accountable, and effective organisation - one that can plan confidenily, respond to volaiile external circumstances, adapt to change, and maintain high standards of care. Our reserves work for us in multiple wa)'s. They are invested to generate further incoine, helping safeguard against external risks beyond our conirol. They are sirniegically allocated to protect the fal￿]11e$ we serve, support our staff, and ensure our charity remains resilient and impactful. We welcome funders who share our commitment to long-tenn change and trust us to use resources wisely, recognising that unrestricted funding is a pow'erful enabler of sustainable, high-impact work. Page 10 Sebastian's Action Trust Trustees, Report Reference and Administrative Details Charity Registration Number: 1151146 Company Registration Number: 08JJ94J6 Registered Office: The Bluebells Popham Lane North Waltham Basingstoke Hampshire RG25 2BB Principal o￿l¢e. The Bluebells Popham Lane North Waltham Basingstoke Hampshire RG?5 ?BB Auditor.. Steiyart & Co Accountants LLP Knoll House Knoll Road Camberley SU￿eY GU15 JSY Bankers- Handelsbanken Ascot 2 Queen5 Square. A5COt Business Park Ascot Berkshire SL5 9FE Truslees and officers The trustees and olricers serving during the year and since the year end were as follows: Trustees: Fiona Wright Vicky Westbrook Vanessa V Avlonitis (appointed 5 June 2024) Simon L Parsons (appointed 6 August 2025) Brendan Dean (retired 12 November 2024) Mark Courdge (retired 5 June 2024} Julian Hodder (retired 24 November 2024) Pagell Sebastian's Action Trust Trustees, Report Chief Executive Officer= Hazel Bedford Secretary.. Brendan Dean (retired 9 September 2025) Hazel Bedford (appointed 9 September 2025) Senior Management / Leadership Team: Hazel Bedford. Chief Executive OfFicer Caroline Hall, Finance Manager {Maternity Leave October 2024) Ros Avery. Finance Manager (appointed I September 2024) (maternity leave cover) Ruth Paley, Trusls and Foundations Manager {resigned 29 August 2024) Alison Evans, Head of Fundraising (resigned 26 April 2024) Nick Mann, Facilities Manager (resigned J January 2025) Assunta Soldovieri. Head of Family Services Amy Samuel, Executive Assistant (resigned 15 November 2024} Structure, governanee and management Il'ature ofgoverning documenl 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 charitv on 9th August 2004. The company was established under a Mernorandum of Association which sets out the objects and pow'ers of the charitable companj and is governed under its Articles of Association. Recruilmenl and appoinlmenl oflrustees The charity is governed by a Board of Twstees. currently comprising four members. Trustees are appointed in accordance with the procedures set out in the Articles of Association. ￿'Ith consideration given to the skills, experience, and diversity needed to support the charity's strategic direction and oversight. Induclion and iraining of Iruslees New Trustees receive an induction, which includes briefings from the Chair. fellow Trustees. of the executive team, and meeting with representatives from the families we support and long standing volunteers. A Trustee starter pack is provided, covering governance responsibilities. key policies, and strategic priorities. Induction also includes site visits, meetings Th'ith key personnel. and opportunities to shadoM.- frontline staff to gain insight into service delivery. Ongoing training and development are encouraged. with Trustee5 invited to attend service events and briefings to deepen their understanding of the charity's work and the challenges faced by benefjciaries. Arrangemenlsfor selling A"ey mallagemenlpersonnel renwneralion The salary of the Chief Executive Officer is revieM'ed and approved by the Board of Trustees. This process ensures remuneration is appropriate and aligned w'ith the charity"s values and resources. Page 12 Sebastian's Action Trust Trustees, Report Organi5alional 5truclure Sebastian's Action Trust is governed by a Board of Trustees, who oversee the charity's strategic direction, ensuring compliance with legal and regulatory obligations, and safeguard the effective and responsible use of resources. While Trustees are not involved in day-to-day operations, they work closely with the Chief Executive and members of the Leadership Team. offering support. expertise. and oversight. The Leadership Team is responsible for operational delivery and CU￿entlY comprises the Chief Executive, Head of Finance, Head of Fundraising and Engagement, and Head of Family Services. RelatlOn5hip5 Ivlth related parties The charity maintains a clear policy for managing conflicts ol interest. Any potential conflicts are declared at Board meetings and recorded in the tninute5. Where a conflict arises. the affected Trustee 15 excluded from discussions and decisions relating to the matter. No conflicts ol interest were reported during the year. Major risks & management of those risks Summary of Principal Risks and Mitigations Sebastian's Action Trust maintains a high-level risk regisler and dashboard to monitor key risks and the effectiveness of mitigation measures. Each risk is assessed for its potential impact and likelihood, and mitigation actions are graded to reflect progress and effectiveness. Below is a summary of our top risks.. l. Income Generation Inherent Risk Level: Very High Mitigation Status: Strong Income remains the most significant strategic risk to the charity's sustainability. Ho￿ever. vnitigation tneasure5 are Th'ell-developed and actively monitored. These include strategic fundraising developinent, external expertise supported by grant funding, and cost base reduction. Early indications sugtr est these actions are improving our financial p051tion. despite anticipated deficits. 2. Health and Safety Inherent Risk Level: Moderate to Hitrh Mitigation Status: Needs Improvement While not the highest strategic risk. health and safety present operational vulnerabilities. Recent reviews have identified gaps in risk assessments and staff iraining. We are prioritising improvements: including updated audits, enhanced procedures at our residential slle, and a renewed focus on embedding health and safety practices across teams. 3. Data Security Inherent Risk Level: High Mitigation Status: Improving In light of increasing cyber threats including attacks on children's services. we have taken proactive steps to strengthen data security. This includes transitioning to a secure cloud-based platfonn, reneTh'ing staff laptops, and upgrading systems that store older or sensitive data. These actions significantly reduce our exposure, and further improvements are platmed to enhance resilience. Page li Sebastian's Action Trust Trustees, Report 4. Technology Infrastructure Inherent Risk Level: Moderate Mitigation Status: Strong We have modemised our IT infrastructure to support operational eificiency and continuity. The move to cloud-based systems has improved scalability. remote access. and reduced reliance on outdated hardware. Continued investment in equipment and digital tools ensures we remain agile and responsive. 5. People and Talent Inherent Risk Level: High Mitigation Status: Active Recniitment of skilled staff remain5 a key risk. Mitigation includes strategic use of 5hort-tern] external fundraising talent, boosting the charity's resources in family services. flexible workiTJg arrangements, and investment in leadership development. These actions are helping to stabilise capacity and reduce disruption. Plans for the future Sebastian's Action Trust has developed a strategic plan for ?0?5-?028 focused on strenothening impact, financial resilience, and organisational sustainability. The sirategy is built around three core pillars.. Deepening Our Impact Through Quality Service Delivery.. We will expand access to our services: improve engagement and occupancy at The Bluebells, and embed trauma-aware: inclusive practices. A iiew bereavement support model and enhanced evaluation systems will ensure measurable outcomes and continuous improvement. Building a Thriving Supporter and Income Base: We aim to grow unrestricted income. diversify fundraising streams, and deepen supporter engagement through improved stewardship, digital tools, and a refreshed brand identity. Strategic investsnent in CRM and data management will support this growth. Strengthening Our Foundations for Growth: We are investing in governance, financial planning, and operational infrastructure. This includes upgrading IT systems and equipment, improving health and safety, and embedding scenario planning to guide long-terni financial resilience. Volunteers will be mobilised as a central resource across service delivery and fundraising. The strategy includes clear objeciives. perfomiance indicators. and planning scenarios to guide delivery and monitor progress. We are Committed to embedding this fi?mework across the organisation, engaging stakeholders in its evolution, and maintaining a culture of learning and accountability. Disclosure of information to auditor Each Trustee has taken all reasonable steps to ensure that they are aware of any relevant audit infonnation and that the charity's auditor is also aware of that infomiation. So far as the Trustees are aware, there is no relevant audit infomiation of which the auditor is unaware. Page 14 Sebastian's Action Trust Trustees, Report Slatemenl of trustees, responsibilities The trustee5 (who are a150 the directors of Sebastian's Action Trust for the purpose5 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 ihe charitable company and of ihe incoming resources and application of resources, including its income and expenditure. of ihe charitable company for that period. In preparing these financial slalements, the trustees are required to: select suitable accounting policies and apply them consistently; observe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent- state whether applicable accounting stsndards. comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in busine55. The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial posilion of the chariiable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In fulfilling their duties, the Trustees are responsible for: Governance: Setting the strategic direction of the charity and ensuring its activities align with its charitable objects. Compliance: Ensuring the charity complies with all relevant laws and regulations, including those set by the Charity Commission. Financial Oversight.. Overseeing the charitv's financial health. ensuring proper managernent of funds, accurate financial reporting, and long-terni viability. Risk Management: Identifying and managing key risks, including fmancial. operational, reputational, and safeguarding risks. Accountability: Ensuring transparency and accountability to beneficiaries, donoT5, regulators, and the wider public. Decision-Making- Making informed decisions on strategic priorities, major initiatives, and resource allocation. Safeguarding.. Promoting the safety and wellbeing of beneficiaries. staff, volunteers, and other stakeholders. Ethical Leadership.. Upholding high standards of integrity and setting the tone for the charity's culture and values. Page 15 Sebastian's Action Trust Trustees, Report Support to the Leadership Team.. Providing guidance, expertise, and oversight to the Leadership Team. The trustees are responsible for the maintenance and integrity of the corporate and fmancial infonnation included on the charitable company's website. Legislation governing the preparation and dissemination of rinancial statements may differ from legislation in other jurisdictions. The annual report was approved by the trustees of the charity on 9 December 2025 and signed on its behalf by.. SIGNED SECURELY kf) 0911212025 at 2=50=21 PM UTC Fiona Wright Trustee Page 16 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 2025, which comprise the StateTnent of Financial Activities. Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policie5. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charilies 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: give a true and fair view of the state of the charlty's affairs as at J l March 2025 and of its incoming resources and application of resources. including its income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generdlly Accepted Accounting Practice; have been prepared in accordance with the requirements of the Companies Act 2006. 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 thai are relevant to our audii of the financial staiements 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 obiained is sufficient and appropriate to provide a basis for our opinion. Other informalion The trustees are responsible for the other information. The other information comprises the inforniation 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 fom) of assurance conclusion thereon. In connection with our audit of the financial statements. our responsibility is to read the other infonnation and, in doing so, consider whether the other inforn)ation 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 maierial misstalements. we are required to detennine whether there is a material misstatement in the financial statements or a maierial misstalement of the other infonnation. If. based on the work we have perfonned, we conclude that there is a maierial misstatement of this other infonnation, we are required to report that fact. We have nothing to report in this regard. Page17 Sebastian's Action Trust Independent Auditor's Report to the Members of Sebastian's Action Trust Opinion on other matter preseribed by the Companies Act 2006 In our opinion. based on the work undertaken in the course of the audit- the inforniation given in the Trustees, Report for the financial year for which the financial statements are prepared is con515tent with the fmancial statetnents- and the Trustees, Report has been prepared in accordance with applicable legal requirements. Matters on which Ive 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 audiL we have not identifLed 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.. adequate accounting records have not been kepL or returns adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustee's remuneration specified by law are not made; or we have not received all the infomlation and explanations we ￿quire for our audit. Auditor responsibilities for the audit of the financial Statements Our objective5 are to obtain reasonable assurance about whether the financial 5tatement5 as a whole are free from material misstatement, whether due to fraud or error. and to issue an auditor'5 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 al￿.a￿'S detect a tnaterial misstatetnent m-.hen it exists. Mi55tatement5 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 delect 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 maierial misstalement 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 operdtes 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. Cornpanies Act 2006 and UK tax legislation). We considered the extent to which non-compliance might have a material effect on the f￿anCIal statements. We detennined 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 estin]ates. We consider there to be no significant risks in respect of accounting estimate5. Page18 Sebastian's Action Trust Independent Auditor's Report to the Members of Sebastian's Action Trust Audit procedures perfomied by the engagement team included: Identifying those members of the charity who have the primary responsibility for ensuring compliance with laws and regulations- Enquiries with management, to understand managements. approach to ensuring compliance with laws and regulations, and to obtain knowledge of any non-compliance or potential non-compliance with laws and regulations that could affect the financial statements. Evaluating managements, incentive5 and opportunities for manipulation of the financial statements (including management ove￿Ide of controls): Testing journal entries and perforniing analytical procedures to identify any unusual transactions, or those outside the nomal course of business, which may indicate risks of material misstatement due to fraud; Testing of balances and transactions that are subject to estimation uncertainty by review of evidence supporting the assumptions and judgements used and detemlining whether those judgements used indicate potential bias; Reading minutes of meetings of those charged with governance; Review of legal expense accounts lo identify spend which may be indicative of breaches of laws and regulations; Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with the provisions of laws and regulations described above. The engagement team also remained aware of the need for professional scepticism to identify any indications of fraud or non-compliance w'ith laws and regulations throughout the audit. There are inherent limitation5 in the audit procedures described above and the further removed non-compliance with laws and reuulations 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 15 hig￿er than the risk of not detecting one resulting from error. as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation5, or through collusion. A further description of our responsibilities is available on the Financial Reporting Council's website at= wv.frc.org.uklauditorsresponsibilities. This description fonns part of our auditor's report. In identifying and asse55ing the risks of material misstatetnent 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 deterniined that the m05t significant applicable legal and regulatory framework5 are those directly relevant to the reporting framework and preparation of the financial 5tatement5 (FRS 102, CoTnpanies Act 2006 and UK tax legislation). We considered the exteni to which non-compliance mitsht 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 managemeni bias in accounting estimates. We consider there to be no significant risks in respecl of accounting estimates. Page 19 Sebastian's Action Trust Independent Auditor's Report to the Members of Sebastian's Action Trust Use of our report This report 15 made solely to the charitable company's trustees. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken 50 that we vnight State to the charity's trustees those matter5 we are required to state to them in an auditor's report and for no other purpose. To the fullest extent pemiitted by law. we do not accept or assutne responsibilit), to anvone other than the charitable company and its trustees as a body, for our audil w"ork, foT this report, or for the opinions we have fomled. Lucy Evans Bsc BFP FCA (Senior Statutory Auditor) For and on behalf of Stewart & Co Accountants LLP, Ststutory Auditor Knoll House Knoll Road Camberley Surrey GU15 3SY 9 December 2025 Page 20 Sebastian's Action Trust Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account) Unrestricted funds Restricted fund5 Total 2025 Notc Income and Endowments from: Donations and legacies Other trading activities Investment income Other income 2?0,208 288,5J2 115,498 686 J35,706 289,218 157,644 157,644 Total income 684,077 116,184 800,261 Expenditure on: Raising funds Charitable activitie5 (518.571) (467.595) (24,465) (398,067) (543,036) {865,662) Total expenditure (986.166) (4?2,532) (1,408.698) Net expenditure Transfers between funds (J02,089) (209,500) (306,348) 209,500 (608,437) Net movement in funds (511,589) (96,848) (608,437) Reconeiliation of funds Total funds brought fon¥ard 8?6,877 1,423.781 2,250,658 Total funds carried forward 23 J15,?88 l.J-6,9)i 1,642.221 The notes on pages 25 to 4J forni an integral part of these financial statements. Page21 Sebastian's Action Trust Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account) Prior Period Sidtemenl of Finllncial Adivilies Unrestricted fund5 Restricted funds Total 2024 Note Income and Endowments from: Donations and legacies Other trading activities Investment income Other income 274,89J J05,2J2 459 580,125 2.400 2,400 Total income 655,59) 305,691 961,284 Expendilure on: Raising funds Charitable activitie5 (588.063) (768.897) (10,449) (376,441) (598,512) (1,145,338) Total expenditure ( l.J56.960) (386.890) (1,74J,850) Net expenditure Transfers between funds (701,J67) 418,856 (81,199) (418.856) (782,566) Net movement in funds (282.511) (500,055) (782,566) Reconeiliation of funds Total funds brought fon¥ard ,109.388 1,92J.8J6 3,033,224 Total funds carried forward 8?6,877 1.4?),781 2,250.658 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 ￿CognISed in the year. The funds breakdown for 2025 and 2024 is shown in note 2J. The notes on pages 25 to 4J forni an integral part of these financial statements. Page 22 Sebastian's Action Trust (Registration number: 08339436) Balance Sheet as at 31 March 2025 (As restated) 2024 2025 Note Fixed assels Tangible assets Investments 14 2,057,9J4 81 2,170,789 81 15 2,058.015 2.170.870 Current assets Stocks Debtors Investments Cash at bank and in hand 16 17 18 19 8,135 32,939 24,947 31,158 700,000 653,825 1,071,945 l.11),019 1,409,930 Creditors: Amounts falling due Ivilhin one year 20 (1,140.79J} (958,622) Net eurrent (liabilities)lassets (27,774) 451,308 Total assets less current liabililies 2,OJO.241 2,622,178 Creditor5: Amount5 falling due after more than one year 21 (388.020) {371,520) Net a55ets 1,642,221 2,250,658 Funds of the charity: Restricted 1,326.933 1.42J,781 Unrestricted income funds Designated Funds General Fund5 221,770 605,107 315,288 Total unrestricted funds J15,288 826,877 Total funds 1,642,221 2,250,658 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements on pages 21 to 4J were approved by the trustees, and authorised for issue on 9 December 2025 and signed on their behalf by.. SIGNED SECURELY 0911212025 at2.'SO'.21 PII UTC Fiona Wright Trustee The notes on pages 25 to 4J forni an integral part of these financial statements. Page 2) Sebastian's Action Trust Statement of Cash Flows for the Year Ended 31 March 2025 (As restated) 2024 2025 Note Cash floivs from operating activitie5 Net cash expenditure (608,437) (782,566) Adjuslmentsfor.. Depreciation Investment income Interest payable 96,897 (17,693) 110,628 (13,655) 32,769 (497,927) {652,824) WorA"ing capital adjuslnients Decrease in stocks (Increase)Idecrease in debtors Increase/(decrease) in crediiors Decrease in deferred income 16 16,812 (1,781) 237,025 (i2,854) 10,888 45,818 (27,455) (105,199) 20 20 Net cash flows from operating activities (278.725) (728,772) Cash flows from investing aetii'ities Interest receivable and similar income Purchase of tangible fixed assets Sale of tangible fixed assets 13,655 (62,646) 132,143 14 (75,362) 91,320 14 Net cash flows from investing activities 33,651 83,152 Cash floivs from financing activities Interest payable and similar charges Repayment of loans and borrowings Repayment of capital element of finance leases and HP contracts Amounts reclassified to cash from current asset investsnents ()1,306) {5,500) ()2,769) (22,000) (2,727) (700,000) 20 700,000 Net cash flows from financing activities 663,194 (757,496) Net increasel(decrease) in cash and cash equivalents 418,120 (1,403,116) Cash and cash equivalents at l April 653,8?5 2,056,941 Cash and cash equivalents at ) l March 1.071,945 653,825 All of the cash flows are derived from continuing operations during the above two periods. The notes on pages 25 to 4J forni an integral part of these financial statements. Page 24 Sebastian's Action Trust Notes to the Financial Statements for the Year Ended 31 March 2025 I 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 tom-.ards the assets of the charity in the event of liquidation. The registered office is The Bluebells, Popham Lane, North Waltham. Basingstoke, Hampshire, RG25 2BB. 2 Accounting policies Slatemenl 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 I O?)) (issued in October 2019) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK aTJd Republic of Ireland (FRS 102) and the Companies Act 2006. Basis of preparation Sebastian's Action Trust meets the defmition of a public benefit entity under FRS 102. Asset5 and liabilities are initially recognised at historical cost OT transaction value unle55 Othen¥ise 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 £. Summary ofsignificant 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. Going eoncern The financial statements have been prepared on a going concern basis. The trustees assess whether ihe 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 truslees make this assessment in respect of a period of one year from the date of approval of the financial statements. The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. Page 25 Sebastian's Action Trust Notes to the Financial Statements for the Year Ended 31 March 2025 Prior period errors Restatement to reflect monies held with a 12 month deposit account to current asset investments, which had been included within cash in the prior period. There is no profit effect to this adjustment. Judgemenls The preparation of the financial statements requires management to make judgements, estimates and assumpiions that affect the amounis reported. These estimaies and judgements are continually reviewed and are based on experience and other factors. including expecthiions of future events that are believed to be reasonable under the circumstances. It is ihe 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 ￿.]lh1n the next financial year. Key sources of estimation uncertainty Useful econoTnic live5 of tangible assets- The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful econoTnic lives and residual values of the assets. These are amended when necessary to reflect current estimates, based on economic utili5ation 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 legacie5 Donations are recognised M'hen the charity has been notified in HTiting of both the aTnount and settlement date. In the event that a donation is subject to conditions that require a level of perforniance by the charity before the charity is entitled to the funds, the income is defeTred and not recognised until either those conditions are fully met, or the fulfilment of those condition5 15 wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting peri(Kl. Legacy gifts are recognised on a case by case basis follom'ing the grant of probate when the administratorlexecutor for the estate has communicaied in writing both the amount and settlement date. In the eveni that the gift is in the fomi of an assei oiher than cash or a financial asset traded on a recognised stock exchange, recogniiion is subject to the value of the gift being reliably measurable ￿'1th a degree of reasonable accuracy and the title to the asset having been transferred io 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 perfomiance conditions are attached to the grant and are yet to be mel the income is recognised a5 a liability and included on the balance sheet a5 deferred income to be released. Deferred income Deferred income represents amounts received for future peri(Kls and is released to incoming resources in the period for which, it has been received. Such income is only deferred when: The donor specifies that the grant or donation musl only be used in future accounting periods. or The donor has imposed conditions which must be met before the charity has uncondiiional entitlement. Page 26 Sebastian's Action Trust Notes to the Financial Statements for the Year Ended 31 March 2025 Gif15 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 501d. They are valued at the amount actually realised. (li) Those donated for onward transmi55ion to beneficiarie5 are included in the Ststement of Financial Activities as incoming resources and resources expended when they are distributed. They are valued at the atnount the charity would have had to pay to acquire them. (iii) Those donated for use by the charity iiself are included when receivable. They are valued at the amount the charity would have had to pay to acquire them. Other trading aclivities Income from other trading activities is recognised when received. Investment income Dividends are recogni5ed once the dividend has been declared and notification ha5 been received of the dividend due. Expendilure 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 categorv. 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. Raisingfun(ts These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds. Charilable aclivities Charitable expenditure comprises those costs inCu￿ed by the charity in the delivery of its activities and services for its benefjciaries. 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 audiL strategic management and trustee meetings. Page 27 Sebastian's Action Trust Notes to the Financial Statements for the Year Ended 31 March 2025 Taxation The charity is considered to pa55 the tests set out in ParaJdph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purpose5. Accordingly, the charity is potentially exempt frotn taxation in respect ol income or capital gains received within categories covered by Chapter 3 Part I l of the Corporation Tax Act ?0 l O or Section 256 of the Taxation of Chargeable Gains Act 1992, to the exteni that such income or gains are applied elclusively 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 HTite off the cost or valuation, less any estimated residual value, over their expected useful economic life as follom's: Asset class Depreciation method and rate Betw"een l and 50 years straight line on cost Freehold land and building5 Plant and equiptnent Between 2 and l O years straight line on cost Fixture5 and fittings Computer equipment Motor vehicles 200/0 - 330/0 Straight line on cost 250/0- 500/0 Straight line on cost 250/0 reducing balance Depreciation to be recognised on receipt of plkmning pemlission Building improvements Phases 4 & 5 Impairment of fixed assets At each reporting end date. the charity reviews the carrying amounts of its tangible assets to detern)ine whether there is any indication that those assets have suffered an impairnient loss. If any such indication exists, the recoverable amount of the asset is estimaied in order to deternline the extent of the impaiment loss (if any). Intangible assets with indefinite useful lives and inlangible assets not yet available for use are tested for impainnent annually, and whenever there is an indicalion that the asset may be impaired. Fixed assel investments Fixed a55et 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 proceed5 and their market value at the start of the year. or their subsequent cosL and are charged or credited to the Statement of Financial Activities in the period of disposal. Unrealised gains and losses represeni 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 eTJd. Investment in subsidiaries Investment in subsidiaries is included at cost less impairn]ent value at the balance sheet date. Page 28 Sebastian's Action Trust Notes to the Financial Statements for the Year Ended 31 March 2025 Currenl assel investments Current asset investtnents are included at the lower of cost and net realisable value I market value. Stock Stock is valued at the lower of cost and estimaied selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is detennined using the first-in. first-out (FIFO}. Items donated to the Charity for resale are nol included in the financial statements until they are sold or distributed. Items donated to the Charitv for distribution to benefjciaries 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-tenn highly liquid investments that are readily convertible to a know'n amount of cash and are subject to an insignificant risk of change in value. Trade credilors Trade creditor5 are obligations to pay for good5 OT Services that have been acquired in the ordinary course of business from suppliers. Accounts payable are cla55ified as cu￿ent liabilities if the charity doe5 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 uncondilional riJo It to defer settlement for at least twelve moiiths after the reporting date. they are presented as non-curreni 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. Intere5t-bearing borrowings are subsequently carried at amortised cost. with the difference between the proceeds, net of transaction cost5, 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 t￿.¢]Ve monihs 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 fund5 are unrestricted funds set aside for specific purposes at the discretion of the trustees. Page 29 Sebastian's Action Trust Notes to the Financial Statements for the Year Ended 31 March 2025 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. Pensions and other post retirement obligations Contributions to defined contribution plans are recognised a5 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 discounied 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 stsff members are employed to carry out. Pension contributions paid for staff funded by a restricted grdnt are allocated as a restricted expense. 3 Income from donations and legacies Unrestricted Total 2025 Total 2024 General Restricted Donations and legacies; Donations and gifts Legacies 173,672 54,654 228,326 218,112 2,825 Grants receivable Donated goods and services 12,368 60,844 73,212 i4,168 308,946 50,242 2?0,?08 115,498 J35,706 580,125 Donated goods and services include food donated for emergency packs and toys & gifts for distribution to benefjciaries. Unrestricted Restricted funds funds Total 2025 Total 2024 Grants received in the year St James Place Charitable Foundation Edward Gostling Foundation - Facilities The Henry Smith Charity - Bereavement Care Other grants (186,500) i 00,000 (186,500) i 00,000 54,300 105,412 i 00,000 i 00,000 57,308 1?,368 60,844 J08,946 Grants received from some donors have perforniance conditions attached and as such income is recognised in the period the performance conditions are met. Page )0 Sebastian's Action Trust Notes to the Financial Statements for the Year Ended 31 March 2025 4 Income from other trading aclivilies Unrestricted Total 2025 Total 2024 General Restricted Income from fundraising events Other income from other trading activitie5 1?5,082 125,082 183,233 163,450 686 164,136 181,871 288,5)2 686 289,218 365,104 Income from BAS Books amounted to £33,658 (2024.. £34,686). Income from BAS Books and Horne amounted to £103,634 (2024= £121,789). 5 Inveslment income Unrestricted Total 2025 Total 2024 General Interest receivable 17,693 13,655 6 Olher income Unrestricted Total 202) Total 2024 General Rental income 157,644 157,644 2.400 7 Expenditure on raising funds a) Costs of generating donations and legacies Unrestricted Total 202) Total 2024 General Restricted Note Other fundraising costs Staff costs Depreciation: amortisation and other similar costs Allocated support costs 144,540 204,202 16,412 160,952 207,452 137,279 311,029 2.752 167,077 2,752 171,880 7,161 143,04) 518,571 24,465 54J,OJ6 598,512 Page)I Sebastian's Action Trust Notes to the Financial Statements for the Year Ended 31 March 2025 8 Expenditure on charitable activities Analysig byfund Unrestricted funds General Restricted funds Tot21 2025 Totsl 2024 Service delivery Facilities Raising awareness J70,748 90,047 6.800 272,284 125,718 65 fv13,032 215,765 6,865 749,689 376,086 19,563 467,595 )98.067 865,662 1,145,338 £467.595 (2024 - £768,897) of tolal expenditure on charitable activities was attributable to unrestricted and £398,067 (2024 - £376,441) to restricted. Analysis by type Activity undertaken directly ActiTrity support Costs 2025 2024 Service Delivery Facilities Raising awareness 509.202 124.OJ7 lJ),8JO 91,728 1,892 749,689 J76,086 215,765 6,865 638,212 2?7,450 865,662 1.145.3J8 Anafy5is of cos15 of aclivilie5 underlaA-en direclly Service delivery Raising awareness Total 2025 Totsl 2024 Facilities Staff costs including contractors 278,7J3 145,009 278,733 145,009 42,987 60,393 20,657 18,112 72,171 150 428,751 230,244 56,531 33,399 17,099 26,659 121,460 1,302 Depreciation and impaimient Rent and utilitie5 Repairs and maintenance Insurance Travel and subsistence Direct costs Training 42.987 60,393 20,657 18,112 67,198 150 4,973 509,?02 124,0)7 6J8,?12 915,445 Page )2 Sebastian's Action Trust Notes to the Financial Statements for the Year Ended 31 March 2025 9 Analysis of support costs Expenditure on Charitable Aclivities Expenditure on Raising Funds Service delivery Raising awareness Tolal 2025 Totsl 2024 Facilities Support costs Staff costs Rent and utilitie5 Repairs and maintenance Printing, postaue and stationery Subscriptions Training Sundry Interest and charges Computer costs Depreciation Legal and professional fees 103,909 1,257 371 68,394 1,210 67,942 440 967 241,212 2,924 863 269,262 17 2,442 926 802 125 5.361 14,?65 8.871 895 890 772 120 5.1fv1 324 281 ,876 13 2,153 1,866 2,123 10,641 33,184 20,636 2,081 3,784 2,592 572 3,147 35,243 11,522 2,966 72 194 4,992 3,104 313 8.540 861 12 29,076 27,W2 10,175 i96 67.6)9 165.8)8 1?8,0)i 1.810 j85,)?2 355,959 Governance costs Audit fees Trustees, meeting expenses 5,881 5,661 2.058 80 141 49 328 124 6.022 5.797 2.107 82 14.008 16,977 171,880 133,8JO 91,798 1.892 399,330 372,936 10 Trustees remuneration and expen5e5 During the year the charity made the following transactions with trustees.. Trustee meetings incurred expenses for food and drink of £329 (2024: £14) and £nil for training fees (2024: £iio). 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 condition5 attached totalled £Nil for the year (2024 - £1,350). Page )) Sebastian's Action Trust Notes to the Financial Statements for the Year Ended 31 March 2025 1 I Staff costs The aggregate pa)ToII costs were a5 lolloH's- 2025 2024 Staff costs during the year were: Wages and salaries Social security costs Pension costs 606,749 5?,201 46,115 828,218 67,057 75,987 705,065 971,262 The monthly average number of persons (including senior rnan￿ernent team) employed by the charity during the year was as follows.. 2025 2024 Fun(fraising Charitable Activities Support Services 12 10 16 24 Contributions to the employee pension schemes for the year totalled £46,115 (2024 - £75,987). The number of employees whose emoluments fell within the folloiving bands was: 2025 2024 £60,001- £70,000 The total employee benefits of the key management pe￿Onnel of the charity were £254,168 (2024 - £366.504). The services of volunteers amount to 5,971 hours of unpaid work (2024: 5.912 hours). Volunteers work in the Trust's bookshop, assist at fundraising events and befriend our families. 12 Auditor5, remuneration 2025 2024 Accountancy fee Audit of the financial statements 5,056 8,624 5,056 11,797 13,680 13 Taxation The charity is a registered charity and is therefo￿ exempt from taxation. Page )4 Sebastian's Action Trust Notes to the Financial Statements for the Year Ended 31 March 2025 14 Tangible fixed assets Land and buildings Plant and equipment Fixtures and rittings Motor vehicles Computer equipment Total Cost At l April 2024 Additions Disposals 2,514,881 J99,767 75,362 (229.171) 167,760 57,162 3,221,183 75,362 (284,059) (6.555) (48,333) At 31 March 2025 2,514.881 245,958 161 ?05 57,162 J,012,486 Depreciation At l April 2024 Charge for the year Eliminated on disposals 568,5J7 192,309 163,541 73,905 52.102 1,050,394 59,957 580 ,847 2,797 96,897 (139,767) {6.555) (46,417) (192,7J9) At J l March 2025 628,494 84,258 157,566 29,335 54,899 954,552 Net book value At 31 March 2025 1,886.i87 161,700 i.945 2,057,934 At J l March 2024 1,946.)44 207,458 4,?19 7.708 5,060 2,170.789 Assets held under finance leases and hire purchase eonlraets The net canying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts: 2025 2024 Plant and equipment 22,349 Page )5 Sebastian's Action Trust Notes to the Financial Statements for the Year Ended 31 March 2025 15 Fixed asset investments 2025 2024 Shares in group undertakings and participating interests Other investments 80 80 81 Share5 in group undertakings and participating interests Subsidiary undertakings Total Cost At l April 2024 At J l March 2025 Net book value At 31 March 2025 At 31 March 2024 Other investments Listed investments Totsl Cost or Valuation At l April 2024 80 80 At 31 March 2025 80 80 Net book value At J l March 2025 80 80 At 31 March 2024 80 80 Details of undertakings Details of the investments in which the charity holds ?OO/o or tnore of the noininal value of any cla55 of share capital are as below. The registered olrice of the subsidiary company is the same as the Charity. Country of ineorporation Proporlion of voting rights Principal and shares held activity Undertaking Holding 2025 2024 Subsidiary undertaking5 Clover & Thistle Limited UK Ordinary IOO/o IOO/o Donnant Company Page )6 Sebastian's Action Trust Notes to the Financial Statements for the Year Ended 31 March 2025 16 Stock 2025 2024 Stocks 24,947 17 Debtor5 2025 2024 Prepayments Accrned income 22,111 10,828 25,058 6,100 18 Current asset investments 2025 2024 £ (As restated) 700,000 Current A55et Investments 19 Cash and cash equivalents 2025 2024 £ (As restated) 653,825 Cash at bank 1.071,945 20 Creditors: amounts falling due wiihin one year 2025 2024 Bank loans Trade creditors Other taxation and social security Other creditors Accruals Deferred income 22,000 24,656 17,371 6,155 24,110 864,3JO 11,496 243,015 20,061 831,476 1,140.793 958,622 Deferred income 2025 2024 Deferred income at l April 2024 Amounts released from previous peri(Kls 864,3JO (i2,854) 969,529 (105,199) Deferred income at year end 831,476 864,3JO Deferred income arise5 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 )7 Sebastian's Action Trust Notes to the Financial Statements for the Year Ended 31 March 2025 21 Creditors: amounts falling due after one year 2025 2024 Bank loans J88,020 J71,520 22 Loans and overdrafts 2025 2024 Bank loans J88,020 393,520 Payable within one year Payable after one year 22,000 371,520 J88,020 J88,020 J9J,520 The long-terni 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 J /0 over LIBOR. Page )8 Sebastian's Action Trust Notes to the Financial Statements for the Year Ended 31 March 2025 23 Funds Balance at April 2024 Balance at 31 March 2025 Incoming Resources resources expended Transfers Unrestricted General Unrestricted fund5 605,107 684,077 (986.166) 12,270 315,288 De5ignaÉed Charitable activity costs 221,770 (221,770) Total Unrestricted 826.877 684,077 (986,166) (209,500) J15,288 Restricted Accessible play area Bereavement care Bluebells running costs Other Christmas in July Respite breaks Cedars roof repairs Hoists & equipment Outreach running costs Woodland Trails Vehicle Outreach salaries The Woodlands The Woodlands - Running costs Play Equipment The Woodlands Phases 4 & 5 The Bluebe115 9.428 18,194 (9.428) (59.928) (5.099) ()4.067) (52.595) (16.500) (1.322) (306) (1.065) (1.571) (4.674) (25,000) (10,553) loo,000 ( i 00.000) 1.000 (10,156) (186,000) (69,000) (21 ?68) 163 16,062 8.515 10,918 16,792 16,500 22,474 7,909 858 21,152 7,603 793 1.000 24,256 6.428 13,750 203,658 22,685 1,754 70,750 335,732 25,000 57,000 142,627 100,359 250,500 755.049 5,210 4,500 96,413 733,781 Total restricted 1,42i.781 16,184 (422,5J2) 209.500 1,326,93J Tot21 funds 2.?50.658 800,?61 (1,408.698) 1.642.221 The balance in designated fi￿dS at J l March 2025 is nil as it is no longer required and h&s been transfered to the general fund. The transfer in year ending 31 March 2025 between restricted funds and general funds includes £142.628 made to reallocate funds from the woodlands centre to unrestricted funds is to reallocate a prior year balance that was previously misallocated. The balance of the transfer £66,872 relates to other unused funds that the donors have agreed may be allocated to general funds. Page )9 Sebastian's Action Trust Notes to the Financial Statements for the Year Ended 31 March 2025 Balance al l April Incoming Resources 2023 resources expended Transfers Balance at 31 March 2024 Unrestricted General Unrestricted funds 767,384 653.428 (1,354,795) 539,090 605,107 Designated Charitsble activity costs (120.234) 221,770 Total unrestricted 1,109.388 653,428 (1,354,795) 418,856 826,877 Restricted Accessible play area Bereavement care Bluebells wnning costs Other Christmas in July Respite breaks Cedars roof repairs Hoists & equipment Outreach rnnning costs Youth Support Woodland Trails Vehicle Outreach salaries The Woodlands The Woodlands - Running costs Play Equipment The Woodlands Phases 4 & 5 The Bluebells 1,276 (1,848) (78,6)8) (15,434) (57,890) (J,000) (?7,028) (5,987) (?3,495) (?8,104) (1,322) (1,627) (40,52J) (17,IlJ) (1,571) (1,14J) (25,000) (10,327) (14J,000) (49,110) 9,428 18.194 74,308 57,890 18,100 23,495 28,104 10,918 22.474 7,909 858 9,5)6 1,000 4,998 12.800 25,827 4,571 24,256 6,428 25.000 J56,985 20J,658 49.110 9,509 (268,942) 100,359 250,500 755,049 629,674 776,317 (110.232} (21,268) Total restricted 1.92).8)6 )05,691 (386.890) (418.856) 1,423,781 Total funds J.OJJ.224 959.119 (1,741,685) 2,250,658 The balance in designated funds at ) l March ?094 is to fund the folloiving: Service delivery salaries at the end of the grant temis which are not grant funded To acquire and install play equipment in memory of Lola Clatsl'onhy Provision of redundancy payments The transfer in year ending ) l March 2024 between restricted funds and general funds includes £134,199 made to reallocate funds that were previously donated io fi￿d the now cancelled Phase 415 works. The transfer of £143.000 from the woodlands cenlre to unrestricied funds is to reallocate a prior year balance that was previously misallocated. The balance of the transfer £18.488 relates to other unused funds that the donors have agreed may be allocated to general funds. Page 40 Sebastian's Action Trust Notes to the Financial Statements for the Year Ended 31 March 2025 Descriplion of reslricledfunds 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 Cedar5 roof repair5 Funding for the repair of the roof at Cedars, part of The Woodlands Hoists & Equiptnent Provision of hoists & other Specialist equipment Salary and ongoing costs of emplo)'ing a House Manager to support beneficiaries on respite break.s and oiher activities at the Bluebells House Managers Salary Outreach rnnning 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 & exlension 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 Trai15 Development of woodland trai15 in the grounds of The Woodlands Salary and ongoing costs of employing specialist staff to support siblings of beneficiaries. Youth Support Other Combined other smaller donations and related expenses Page41 Sebastian's Action Trust Notes to the Financial Statements for the Year Ended 31 March 2025 24 Analysis of net assets behveen funds Unrestricted funds General Total funds at 31 March 2025 Reslrieled funds Tangible fixed assets Fixed asset investments Current assets Current liabilities Creditors over l year 852,646 81 1205,288 2,057,9J4 81 1.052,87J {1.140,79J) (388.020) 60,146 I,IlJ,019 (1,140,793) (388,020) Total net assets )76.787 1965,4J4 1,fv12,221 Total fund5 at 31 March 2024 Unrestricted funds General Designated Restrieted funds Tangible fixed assets Fixed asset investments Current assets 919.527 81 1,251,262 2,170,789 81 1,015,641 (958.622} (371.5?0) 221,770 172,519 1,409,9JO (958,622) (371,520) Current liabilities Creditors over l year Total net assets 605,107 291.770 1,42J.781 2,250,658 25 Pension and other 5cheme5 Defjned contribution pension scheme The charity operates a defined contribution pension Scheme. The pension costs charge for the year represents contributions payable b), the charity 10 the scheme and amounted to £46,115 (2024.. £75,987). 26 Commitments Capital commitments Capital commitments not provided for in the financial statements include contracts for future capital expenditure of property, plant and equipment. As at il March 2025 the charity did not have any capital commitments. In the previous year, the charity has contracted to purchase garden playground equipment and the total amount not provided in the financial statements previously was £54.694.. Page 42 Sebastian's Action Trust Notes to the Financial Statements for the Year Ended 31 March 2025 27 Financial instruments Categorisation of financial instruments 2025 2024 Financial liabilities measured at amortised cost 445,841 448,441 28 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 I I there were no other related party transactions in the year.) At the balance sheet date the amount due tolfrom wa5 £Nil (2024 - £Nil). 29 Binding sale agreemenls Woodlands freehold - The sale of the property completed on 2nd June 2025. The canying amount of the assets is £ 1,0 l J,2JO. 30 Analysis of change5 in net debt Asatl April 2024 Asat31 March 2025 Cash flows Cash and cash equivalents Cash Overdrafts 653,825 418,120 1,071,945 65J,825 418,120 1,071,945 Borrowings Short tenn borrowings Long tenn borrowings (2?,000) {371.520} 22,000 (16,500) {388,020) {393.520) 5.500 {388,020) {68i,925) {260.J05} (42),6?0) Page 4)