REGISTERED CHARITY NUMBER: 1168194
Report of the Trustees and
Financial Statements
for the Year Ended 31 March 2024
for
Sophie's Journey
Sophie's Journey
Contents of the Financial Statements for the year ended 31 March 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 10 |
Sophie's Journey
Report of the Trustees for the year ended 31 March 2024
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The principal aim of the charity is to provide free holidays to children with cancer in Lincolnshire.
Public benefit
The trustees have regard to the Charity Commission's general guidance on public benefit and always ensure that activities which we undertake are in line with our charitable objects and aims.
Volunteers
The Charity is grateful to numerous volunteers who offer their time in furtherance of the Charity's objectives.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
We have been able to help approximately 195 families in the current year with stays at our caravans at Golden Sands Holiday Park in Mablethorpe taking our total number to 795 since the charity was established. The caravans have been in operation throughout the season, however support has been continuous throughout the period.
Fundraising activities
Throughout the year, we have continued to hold our usual events such as: raffles, tombolas, our annual ball, a Christmas market, fun runs, and family nights. Once again, we were charity of the year for the Lincoln 10k, and we were also the chosen charity for a Daisy Made Farm event. We have been working with several businesses in the area as their chosen charity. We brought back the skydive event and have attended several local events with our stall to raise awareness and donations on the day.
This has helped to raise an amount in excess of £48,000.
FINANCIAL REVIEW
Reserves policy
The Trustees have established a policy whereby the free reserves, that being the unrestricted funds not committed or invested in tangible fixed assets, held by the charity, should be equivalent to approximately 3 months resources expended, which equates to approximately £11,000 in general funds. At this level, the Trustees feel that they would be able to continue running the organisation in the event of a loss of all funding sources. At 31 March 2024 the free reserves were £125,958 and as such above the targeted level, however the Trustees continue to monitor funds available.
Going concern
The ongoing support from donations and fundraising events has helped us to remain in a surplus position and as such, the Trustees believe the charity is a going concern. We aim to continue to develop streams of income to aid our sustainability through future fundraising events. We wish to thank each individual who supported the charity this year.
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Sophie's Journey
Report of the Trustees for the year ended 31 March 2024
FUTURE PLANS
2024 would have been Sophie's 21st birthday. Therefore, the charity is looking to raise funds to purchase a Lodge in another part of Lincolnshire. It is hard for families to revisit places they have been to with a loved one and made memories now that they are sadly no longer with us. This lodge will enable the families to go on holiday to an alternative location. We are also in the process of opening our very first charity shop which will not only raise funds for the charity, but will also be supporting our local small business with "Rent a shelf". It will become the Home of Sophie's Journey where we will provide support to our families with drop in sessions.
This will be a stepping stone into our overall aim of supporting families with free holidays across Lincolnshire.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its constitution and represents an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1168194
Principal address
10 Lurgan Close Lincoln Lincolnshire LN5 8SZ
Trustees
S Southwell B Robinson S Broadley A Marshall
Independent Examiner
Steve Robinson Nicholsons Chartered Accountants Newland House The Point Weaver Road LINCOLN Lincolnshire LN6 3QN
Approved by order of the board of trustees on 30 September 2024 and signed on its behalf by:
S Southwell - Trustee
Page 2
Independent Examiner's Report to the Trustees of Sophie's Journey
Independent examiner's report to the trustees of Sophie's Journey
I report to the charity trustees on my examination of the accounts of Sophie's Journey (the Trust) for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Steve Robinson
Nicholsons Chartered Accountants Newland House The Point Weaver Road LINCOLN Lincolnshire LN6 3QN
1 October 2024
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Sophie's Journey
Statement of Financial Activities for the year ended 31 March 2024
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities 2 Total EXPENDITURE ON Raising funds 3 Charitable activities Caravan Usage Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2024 Unrestricted fund £ 26,162 48,758 74,920 32,292 13,330 45,622 29,298 126,405 155,703 |
2023 Total funds £ 31,883 35,963 |
|---|---|---|
| 67,846 | ||
| 34,545 13,250 |
||
| 47,795 | ||
| 20,051 106,354 |
||
| 126,405 |
The notes form part of these financial statements
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Sophie's Journey
Balance Sheet
31 March 2024
| Notes FIXED ASSETS Tangible assets 5 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 6 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 7 Unrestricted funds TOTAL FUNDS |
2024 Unrestricted fund £ 29,745 127,934 (1,976) 125,958 155,703 155,703 155,703 155,703 |
2023 Total funds £ 34,907 92,753 (1,255) 91,498 126,405 126,405 126,405 126,405 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 30 September 2024 and were signed on its behalf by:
S Southwell - Trustee
The notes form part of these financial statements
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Sophie's Journey
Notes to the Financial Statements for the year ended 31 March 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Raising funds
Fees payable to the independent examiner during the current year amounted to £1,260 ( 2023 £1,320).
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixed assets are stated at cost less depreciation, or in cases where fixed assets have been donated, at valuation at the time of acquisition less depreciation.
Depreciation
Depreciation is charged on all tangible fixed assets other than freehold land as follows:
| Freehold Property | 15% reducing balance |
|---|---|
| Computer Equipment | 20% reducing balance |
| Fixtures and Fittings | 15% reducing balance |
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
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Sophie's Journey
Notes to the Financial Statements - continued for the year ended 31 March 2024
1. ACCOUNTING POLICIES - continued
Fund accounting
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER TRADING ACTIVITIES
| Fundraising events 3. RAISING FUNDS Raising donations and legacies Storage fees Support costs |
2024 £ 48,758 2024 £ 1,690 18,886 20,576 |
2023 £ 35,963 |
|---|---|---|
| 2023 £ 1,521 9,139 |
||
| 10,660 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
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Sophie's Journey
Notes to the Financial Statements - continued for the year ended 31 March 2024
5. TANGIBLE FIXED ASSETS
| Fixtures Freehold and property fittings £ £ COST At 1 April 2023 70,948 - Additions - 115 At 31 March 2024 70,948 115 DEPRECIATION At 1 April 2023 36,856 - Charge for year 5,114 - At 31 March 2024 41,970 - NET BOOK VALUE At 31 March 2024 28,978 115 At 31 March 2023 34,092 - 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 7. MOVEMENT IN FUNDS At 1.4.23 £ Unrestricted funds General fund 126,405 TOTAL FUNDS 126,405 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 74,920 TOTAL FUNDS 74,920 |
Computer equipment £ 1,986 - 1,986 1,171 163 1,334 652 815 2024 £ 1,976 Net movement in funds £ 29,298 29,298 Resources expended £ (45,622) (45,622) |
Totals £ 72,934 115 73,049 38,027 5,277 43,304 29,745 34,907 2023 £ 1,255 At 31.3.24 £ 155,703 155,703 Movement in funds £ 29,298 29,298 |
|---|---|---|
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Sophie's Journey
Notes to the Financial Statements - continued for the year ended 31 March 2024
7. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.22 £ 106,354 106,354 |
Net movement in funds £ 20,051 20,051 |
At 31.3.23 £ 126,405 |
|---|---|---|---|
| 126,405 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | Movement | |
|---|---|---|---|---|
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 67,846 | (47,795) | 20,051 | |
| TOTAL FUNDS | 67,846 | (47,795) | 20,051 | |
| A current year 12 months and prior year 12 months combined position is as follows: | ||||
| Net | ||||
| movement | At | |||
| At 1.4.22 | in funds | 31.3.24 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 106,354 | 49,349 | 155,703 | |
| TOTAL FUNDS | 106,354 | 49,349 | 155,703 | |
| A current year 12 months and prior year 12 months combined | net movement in fund | |||
| included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 142,766 | (93,417) | 49,349 | |
| TOTAL FUNDS | 142,766 | (93,417) | 49,349 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
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Sophie's Journey
Notes to the Financial Statements - continued for the year ended 31 March 2024
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
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