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← Supporting Neonatal Users & Graduates (Snug) Limited

2024-10-31-accounts

REGISTERED COMPANY NUMBER: 08752179 (England and Wales) REGISTERED CHARITY NUMBER: 1171443

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

SUPPORTING NEONATAL USERS & GRADUATES (SNUG) LTD

PEPLOWS LIMITED Chartered accountants Moorgate House King Street Newton Abbot TQ12 2LG

SUPPORTING NEONATAL USERS & GRADUATES (SNUG) LTD

Content of the financial statements for the Year Ended 31 October 2024

Page
Report of the Trustees 1 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8 to 9
Notes to the Financial Statements 10 to 15
Detailed Statement of Financial Activities 16 to 17

SUPPORTING NEONATAL USERS & GRADUATES (SNUG) LTD

Report of the Trustees

for the Year Ended 31 October 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 October 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).

The Trustees of SNUG are pleased to present their annual report for the financial year 2023/2024. This year has been one of stabilising the charity and reigniting our core services especially the Neonatal Pathways Project thanks to funding from the National Lotter Community Fund. This funding has allowed us to plan for further expansion of our reach and impact within the community of Exeter and beyond, supporting families who have experienced a difficult start to parenthood. We are immensely proud of the dedication of our staff and volunteers, and the increasing number of families we have been able to serve.

Craig Bowden Chair of Trustees

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charity's objects are to promote and preserve good health among parents of babies who have been cared for in neonatal hospitals in The South West in particular but not exclusively by providing counselling, support, information, advice and signposting service to such parents. SNUG sees a need to continue our work with stakeholders to ensure that 'lived experience' is seen as the vehicle through which changes are inspired. We have a strategy to engage with community organisations that compliment one another and in turn can strengthen the individual offers of each organisation.

Key Achievements and Performance:

Successful Funding from The National Lottery Community Fund:

We are thrilled to report a highly successful year for funding, highlighted by a significant grant from The National Lottery Community Fund. This vital funding, secured during the 2023/2024 financial year, has been instrumental in ensuring the sustainability of our core services and enabling us to plan for future expansion. The National Lottery Community Fund's support is a testament to the essential work SNUG undertakes and its alignment with community needs. This grant provides a stable financial foundation, allowing us to focus on direct service delivery and strategic development.

1

SUPPORTING NEONATAL USERS & GRADUATES (SNUG) LTD

Report of the Trustees

for the Year Ended 31 October 2024

Revised Working Partnership Agreement with the Exeter RD&E Hospital:

A pivotal achievement this year has been the successful negotiation and implementation of a revised working partnership agreement with the Royal Devon and Exeter Hospital (RD&E). This strengthened collaboration is crucial for SNUG's ability to reach families in need right from the point of care. The revised agreement streamlines referral pathways, enhances communication, and ensures that our peer support services are seamlessly integrated with the hospital's maternity and neonatal units. This partnership signifies a deepening commitment from both SNUG and the RD&E to provide holistic support for new parents, recognizing the invaluable role of peer support alongside clinical care.

Increased Families Using Peer Support Services:

Perhaps the most impactful indicator of our success this year has been the significant increase in families accessing and benefiting from SNUG's peer support services. We have seen a notable rise in demand for our empathetic and understanding peer-led groups and one-to-one support. This growth underscores the critical need for the unique support that SNUG provides – connecting individuals with shared experiences to foster a sense of community, reduce isolation, and empower parents during challenging times. The feedback received from families consistently highlights the positive impact of this support on their emotional wellbeing, confidence, and ability to navigate early parenthood.

FINANCIAL REVIEW

The successful funding from The National Lottery Community Fund, alongside continued generous contributions from individuals and other trusts, has resulted in a stable and healthy financial position for SNUG during the 2023/2024 financial year. These funds have been prudently managed to maximise impact, primarily allocated to the direct delivery of our peer support programs, training for our volunteers, and essential operational costs.

Public Benefit Statement

The Trustees confirm that they have complied with their duty to have due regard to the public benefit guidance published by the Charity Commission. SNUG's activities are designed to provide direct benefit to the public by supporting families experiencing a difficult start to parenthood, thereby promoting mental well-being, reducing social isolation, and enhancing family resilience within our community. Our services are accessible to all, irrespective of background, and aim to alleviate distress and promote positive outcomes for new parents and their children.

2

SUPPORTING NEONATAL USERS & GRADUATES (SNUG) LTD

Report of the Trustees

for the Year Ended 31 October 2024

Plans for the Future:

Building on the successes of 2023/2024, SNUG aims to:

Continue to expand the reach of our peer support services, exploring new geographical areas within Devon where the need is identified.

Further develop our training programs for peer support volunteers to ensure the highest quality of support. Strengthen existing partnerships and forge new collaborations with relevant organisations to create a comprehensive network of support for families.

Explore diversified income streams to ensure the long-term sustainability of SNUG's vital work beyond current grant cycles.

Conclusion:

The financial year 2023/2024 has been a truly remarkable period for SNUG. The successful National Lottery Community Fund grant, the revised partnership with the Exeter RD&E Hospital, and the undeniable increase in families benefiting from our peer support services are clear indicators of our growing impact and the vital role SNUG plays in the community. The Trustees extend their sincere gratitude to our dedicated staff, incredible volunteers, and generous funders for their unwavering commitment to SNUG's mission. We look forward to another year of growth and positive change.

Reserves policy

In normal times, taking into account the risk, sustainability and the variability of SNUG's income, the Board of Trustees has established an understanding whereby the unrestricted funds held by the charity should be 2 month operating costs.

We appreciate this needs to be increased and should be higher. We hold reserves to pay remaining salary costs should any remaining restricted funding need to be returned to the funding organisation. Over the past year, the board agreed a reserves policy to support the organisation should it face financial hardship.

3

SUPPORTING NEONATAL USERS & GRADUATES (SNUG) LTD

Report of the Trustees

for the Year Ended 31 October 2024

Board Effectiveness

The Board meet quarterly as well as holding additional meetings to review budgets and agree strategic development for the charity, as required. Commitment from the Trustee Board continues to be excellent with meetings well attended and contributions from all. The Board are looking to recruit further members in the coming year and are particularly interested in seeking representation from the BAME community and those with lived experience.

Statement of Trustees Responsibilities

The trustees (who are the directors of Supporting Neonatal Users and Graduates for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, Articles of Association, adopted on 14th July 2015 and amended by Special Resolution on 13th January 2017.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

08752179 (England and Wales)

Registered Charity number

1171443

4

SUPPORTING NEONATAL USERS & GRADUATES (SNUG) LTD

Report of the Trustees for the Year Ended 31 October 2024

Registered office

Stephens & Scown Curzon House Southernhay West Exeter Devon EX1 1RS

Trustees

Craig Bowden- Chair Catherine Carlton Dr Louise Boddy Claire Weston (Appointed 13[th] November 2023) Rebecca Wilkins (Resigned 13[th] November 2023) Samuel Chapter

Independent Examiner

Michael Young Peplows Limited Chartered Accountants Moorgate House King Street Newton Abbot TQ12 2LG

Approved by order of the board of trustees and signed on its behalf by

C Bowden - Trustee Date:

5

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SUPPORTING NEONATAL USERS &

GRADUATES (SNUG) LTD

Independent examiner's report to the trustees of Supporting Neonatal Users & Graduates (SNUG) Ltd ('the Company')

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 October 2024.

Responsibilities and basis of report

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

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.

Michael Young

Peplows Limited Moorgate House King Street Newton Abbot TQ12 2LG

6

SUPPORTING NEONATAL USERS & GRADUATES (SNUG) LTD

Statement of Financial Activities

(Incorporating an Income and Expenditure Account)

For the Year Ended 31 October 2024

INCOME AND ENDOWMENTS FROM
Donations and legacies
Other trading activites
Total
Expenditure on Charitable activities
Charity
Other
Total
NET INCOME / (EXPENDITURE)
Transfers between funds
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Notes
1
2
10		 Unrestrcited
Fund
£
6,160
292
6,452
897
348
1,245
5,207
5,207
1,913
7,120		 Restricted
funds
£
61,549
-
61,549
95,717
-
95,717
(34,168)
(34,168)
56,493
22,325		 2024
Total
Funds
£
67,709
292
68,001
96,614
348
96,962
(28,961)
(28,961)
58,406
29,445		 2023
Total
Funds
£
92,148
3,566
95,714
68,547
657
69,204
26,510
-
26,510
31,896
58,406

7

SUPPORTING NEONATAL USERS & GRADUATES (SNUG) LTD

Balance sheet For the Year Ended 31 October 2024

Notes
FIXED ASSETS
Tangible assets
7
CURRENT ASSETS
Debtors
8
Cash at bank
CREDITORS
9
NET CURRENT ASSETS
NET ASSETS
FUNDS
Unrestricted funds
Restricted funds
TOTAL ASSETS LESS CURRENT
LIABILITIES
10
Amounts falling due within one year		 Unrestrcited
Fund
£
-
-
8,854
8,854
(1,734)
7,120
7,120
7,120		 Restricted
funds
£
-
22,325
22,325
22,325
22,325
22,325		 2024
Total
Funds
£
-
-
31,179
31,179
(1,734)
29,445
29,445
29,445
7,120
22,325
29,445		 2023
Total
Funds
£
348
315
60,505
60,820
(2,762)
58,058
58,406
58,406
56,493
1,913
58,406

8

SUPPORTING NEONATAL USERS & GRADUATES (SNUG) LTD

Balance sheet

For the Year Ended 31 October 2024

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees, authorised for issue and were signed on its behalf by:

C Bowden - Trustee

Date:

9

SUPPORTING NEONATAL USERS & GRADUATES (SNUG) LTD

Notes to the financial statements for the Year Ended 31 October 2024

ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The functional and presentational currency is considered to be pounds sterling because it is the currency of the primary economic environment in which the charity operates. The accounts are rounded to full pound sterling.

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.

Tangible fixed assets

Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

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.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Exemption from preparing a cash flow statement

The charity is not required to prepare a cash flow statement as the turnover is below £500,000 and it has not therefore included a cash flow statement in these financial statements.

10

SUPPORTING NEONATAL USERS & GRADUATES (SNUG) LTD

Notes to the financial statements

for the Year Ended 31 October 2024

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

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

Trade creditors

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

Trade creditors are recognised initially at the transaction price.

11

SUPPORTING NEONATAL USERS & GRADUATES (SNUG) LTD

Notes to the financial statements

for the Year Ended 31 October 2024

1.

2.

OTHER TRADING ACTIVITIES
Fundraising events
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Deficit on disposal of fixed assets		 2024
£
292
2024
£
348
-		 2023
£
3,566
2023
£
657
-

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 October 2024 nor for the year ended 31 October 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 October 2024 nor for the year ended 31 October 2023.

4. STAFF COSTS

The average monthly number of employees during the year was as follows:

5.

CEO
Volunteer Coordinators
Administrator
No employees received emoluments in excess of £60,000.
Wages
Social security
Pension
Independent examiner's remuneration
Examination of the financial statements
Management accounts prepartion
Bookkeeping and other accountancy fees		 2024
£
1
1
1
3
2024
£
62,154
4,530
1,245
67,929
2024
£
1,680
1,200
3,721
6,601		 2023
£
1
1
1
3
2023
£
52,367
3,182
1,084
56,633
2023
£
1,680
1,200
3,011
5,891

12

SUPPORTING NEONATAL USERS & GRADUATES (SNUG) LTD

Notes to the financial statements

for the Year Ended 31 October 2024

6.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Restricted
Funds
Funds
INCOME AND ENDOWMENTS FROM
£
£
Donations and legacies
19,638
72,510
Other trading activities
3,566
-
Total
23,204
72,510
EXPENDITURE ON Charitable activities
Charity
40,331
28,216
Other
657
-
Total
40,988
28,216
Net Income
(17,784)
44,294
Transfers between funds
-
-
Net movement in funds
(17,784)
44,294
Total funds brought forward
19,697
12,199
Total funds carried forward
1,913
56,493
7.
TANGIBLE FIXED ASSETS
Fixtures
and
Computer
fittings
equipment
COST
£
£
At 1 November 2023
2,355
4,577
Additions
Disposals
At 31 October 2024
2,355
4,577
DEPRECIATION
At 1 November 2023
2,107
4,477
Charge for year
248
100
At 31 October 2024
2,355
4,577
NET BOOK VALUE
At 31 October 2024
-
-
At 31 October 2023
248
100
13		 Total
Funds
£
92,148
3,566
95,714
68,547
657
69,204
26,510
-
26,510
31,896
58,406
Total
£
6,932
-
-
6,932
6,584
348
6,932
-
348

SUPPORTING NEONATAL USERS & GRADUATES (SNUG) LTD

Notes to the financial statements

for the Year Ended 31 October 2024
8.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
£
Other Debtors
-
Prepayments
-
-
9.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
£
Trade Creditors
60
Accruals and deferred income
1,519
Other taxes
155
1,734
10.
MOVEMENT IN FUNDS
At
Net
Fund
01.11.2023 Movement
Transfers
Unrestricted funds
£
£
£
General fund
1,913
5,207
Restricted funds
Lottery
-
-
Memory Makers Project
-
-
Neonatal Project
56,493
(34,168)
56,493
(34,168)
-
TOTAL FUNDS
58,406
(28,961)
-
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
Unrestricted funds
£
£
General fund
6,452
(1,245)
Restricted funds
Lottery
-
-
Memory Makers Project
-
-
Neonatal Project
61,549
(95,717)
61,549
(95,717)
TOTAL FUNDS
68,001
(96,962)		 2023
£
-
-
-
2023
£
556
1,200
1,006
2,762
At
31.10.2024
£
7,120
-
-
-
22,325
22,325
29,445
Fund
movement
£
5,207
-
-
(34,168)
(34,168)
(28,961)

14

SUPPORTING NEONATAL USERS & GRADUATES (SNUG) LTD

Notes to the financial statements

for the Year Ended 31 October 2024

10. MOVEMENT IN FUNDS (continued)

Comparatives for movement in funds

MOVEMENT IN FUNDS (continued)
Comparatives for movement in funds
Comparatives for 31 October 2024
At Net Fund At
01.11.2022 Movement Transfers 31.10.2023
Unrestricted funds £ £ £ £
General fund 19,697 (17,784) - 1,913
-
Restricted funds -
Lottery 3,638 (3,638) -
Memory Makers Project 8,561 (8,561) -
Neonatal Project 56,493 56,493
12,199 44,294 - 56,493
TOTAL FUNDS 31,896 26,510 - 58,406
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds Incoming
Resources
Fund
resources
expended
movement
£
£
£
Comparatives for 31 October 2024
General fund 23,204 (40,988) (17,784)
Restricted funds -
Lottery 10,961 (14,599) (3,638)
Memory Makers Project - (8,561) (8,561)
Neonatal Project 61,549 (5,056) 56,493
72,510 (28,216) 44,294
TOTAL FUNDS 95,714 (69,204) 26,510

11. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 October 2024.

15

SUPPORTING NEONATAL USERS & GRADUATES (SNUG) LTD

Detailed Statement of the financial statements for the Year Ended 31 October 2024

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Grants
Other revenue
Other trading activities
Fundraising events
Total incoming resources
Charitable activities
Wages
Pensions
Insurance
Postage and stationery
Advertising
Entertainment
Recruitment
Rent
IT software and consumables
General expenses
Travel
Subscriptions
Consulting
Website costs
Direct expenses
Sessional costs
SCBU Hospital
Other
Fixtures and fittings
Computer equipment
Loss on sale of tangible fixed assets		 2024
£
6,160
61,549
292
68,001
-
-
68,001
66,684
1,245
411
703
395
362
-
2,366
1,162
1,237
2,158
1,012
9,260
508
-
2,510
-
90,013
248
100
-
348		 2023
£
15,638
76,510
2,037
94,185
1,529
1,529
95,714
55,549
1,084
194
60
84
-
-
-
979
313
1,255
230
1,607
-
-
687
614
62,656
252
405
-
657

16

SUPPORTING NEONATAL USERS & GRADUATES (SNUG) LTD

Detailed Statement of the financial statements for the Year Ended 31 October 2024

Support costs
Governance costs
Accountancy and legal fees
Total resources expended
Net (Expenditure)/Income		 2024
£
6,601
96,962
(28,961)		 2023
£
5,891
69,204
26,510

17