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2023-12-31-accounts

The Sea Change Trust (Registered Charity Number 1181866)

Unaudited

Trustees Report and Accounts Year ended 31[st] December 2023

THE SEA CHANGE TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

Page
Reference and Administrative Details 1
Trustees' Report 2 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Statement of Financial Position 9
Notes to the Financial Statements 10 to 17

THE SEA CHANGE TRUST

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2023

Charity registration number 1181866
Registered Company number CE016399
Registered office address The Sea Change Trust
8 & 9 Victoria Mews
St. Austins Friars
Shrewsbury
SY1 1RY
Independent Examiner TCA (Shrewsbury) LLP
Third Floor
21 St Mary’s Street
Shrewsbury
Shropshire
SY1 1ED
Bankers Co-op Bank
Trustees Emma Alexander
Paul Andrews
Paul Dyson (Chair)
Tobias Etterley (resigned 14th July 2023)
Dr Gillian Goodwillie (resigned 4th July 2024)
Catherine Shaw
Richard Turner (appointed 26th September 2024)

Page 1

THE SEA CHANGE TRUST

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees of The Sea Change Trust are pleased to present their report and the financial statements for the year ended 31[st] December 2023.

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 December 2023. 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).

1. INTRODUCTION

The Sea Change Trust was founded in February 2019 by a group of local child and family therapists, with the aim of offering specialist psychological support to the most vulnerable and marginalised members of our community.

Our vision is a future where young minds are supported and empowered at the time of need.

Our mission is to transform young futures through specialist therapeutic support.

We aim to achieve our mission and vision by:

The Need

We were formed to respond to the challenges children, young people, and parents face with their mental health. 1 in 8 children and young people in England face mental health problems (NHS Digital Report 2018). Approximately 68% of women and 57% of men with mental health problems are parents (Royal College of Psychiatrists, 2016).

Services to support children, young people and parents have been subject to many cuts in recent years, leaving the remaining resources extremely stretched in the face of increasing demand. While a lack of provision for mental health support is sadly not a new challenge it has been amplified over the last 3 years due to the Covid-19 pandemic and the cost-of-living crisis.

Covid-19 had a huge impact on mental health, particularly affecting children and young people, with parents worried about how the pandemic would affect their children’s long-term mental health. This has been further amplified by the current cost of living crisis.

Children living in lower income households and whose parents are in receipt of low-income benefits are more likely to experience challenges with their mental health (NHS Digital, 2019). There is growing concern over the rates of childhood poverty in Shropshire. 31.5% of children in Telford and Wrekin, 31% of children in North Shropshire, 26% of children in Shrewsbury and 30% of children in Ludlow are living in poverty (End Child Poverty, 2020).

We are seeing the reality of these statistics with demand for our services growing rapidly. We support children, young people, and families by delivering one-to-one specialist psychotherapy and group

Page 2

THE SEA CHANGE TRUST

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2023

support sessions. We work closely in partnership with other charities and service providers, ensuring we are able to offer our services to those who are most in need of our support.

2. OBJECTIVES AND PUBLIC BENEFIT

a. Our objects as set out in our constitution are:

To promote and protect the mental health of children and their parents or carers in Shropshire and surrounding counties through, but not exclusively, the provision of psychotherapeutic services. To advance the education of parents, carers and professionals responsible for the care and education of children, who are in need of psychotherapeutic services, by the provision of specialist training in related subjects.

b. Public Benefit Statement

We deliver psychological support to the most vulnerable and marginalised members of our community, regardless of financial means, background, or status. Our work directly benefits children, young people, families and carers and professionals responsible for the care and education of children:

In delivering our services we further benefit the public, as follows:

3. ACHIEVEMENTS AND PERFORMANCE

We would like to thank all of our donors and supporters. Without them none of the following achievements would have been possible.

We work closely in partnership with other charities and service providers, ensuring we are able to offer our services to those who are most in need of our support.

In 2023 we:

The three key differences we aim to make are:

  1. To enable greater engagement with local services, including our own.

  2. To improve connections within families and communities.

  3. To lessen the impact of trauma, loss, and separation.

Page 3

THE SEA CHANGE TRUST

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2023

The services have helped:

Through the year the key focus of our project work included the following services:

a. National Lottery Community Fund – Reaching Communities

In June 2023 we were awarded a grant from the National Lottery Community Fund through their Reaching Communities fund, enabling us to provide our ‘Reaching Vulnerable Children’ project. It has enabled us to bring together different elements of our service provision, as well as developing and expanding them through individual, group and family interventions.

Previously part of our Early Years provision, our ‘Talk and Play in the Bell Tent’ drop-in continued to take place and has been used really well by local families. Aimed at parents with babies, toddlers and pre-schoolers, it is an accessible service in a central and weekly position in the Quarry Park in Shrewsbury. The ‘Family Drop-in’ at Pontesbury Pavillion community hub and library, provides a creative space for toddlers and pre-schoolers, for families in a rural community with poor transport links. Running throughout the year, we have met lots of new families, as well as welcoming regular and returning families. The mix of established attendees and new members has enabled connections and relationships to build between families, with many continuing relationships outside of the drop-in space. Through the sharing of parenting experiences as well as practical knowledge base, around development experiences and what’s on in the local community, the ‘village’ community, which not all families have the fortune to experience, has been effectively created.

The funding has also enabled us to provide more vital ‘Listening Space’; individual support for those from across the county, for those who need more specialist help in a confidential setting. This funding has enabled us to meet the needs of those accessing support at the earliest opportunity, with no individual waiting for longer than two weeks before meeting with a therapist.

Through the first year, the project has improved the lives of 1,140 beneficiaries in our local community.

b. Early Years – Telford and Wrekin

In April 2023 we were awarded funding through the Best Start For Life Fund via Telford and Wrekin Council. The funding was granted to The Sea Change Trust so that we could provide Perinatal and Infant Mental Health services aimed at under twos and their parents and carers. A key part of this service was to provide weekly Talk and Play sessions for families, taking place at either Telford Town Park in the charity’s bell tent or at Southwater Library, during term time. Each session is run by two qualified therapists, who are there to talk with parents and carers about any concerns they have about their own emotional or mental health, their child, or the relationship with their child. The sessions are a safe and non-judgemental space that also give families the opportunity to form bonds with each other. The funding also enabled us to offer an emotional well-being weekly drop-in aimed at Dads has taken place each week at the Telford Sikh Temple. The Dads are among those who have accessed additional support through a ‘Listening Space’; short-term individual interventions of up to twelve sessions for parents and families. Listening Spaces can include parent-infant psychotherapy, and individual psychotherapy or counselling for parents.

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THE SEA CHANGE TRUST

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2023

As part of the project funding has also been allocated to fund a therapy van. This has enabled the team to offer a mobile consulting room space for individual sessions.

FUTURE PLANS

Our aims for 2024 months are to:

4. STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Methods used to recruit and appoint new trustees

As set out in our constitution, dated 1[st] August 2018, Trustees are appointed for a fixed term. In selecting individuals for appointment as Trustees, the Trustees must have regard to the skills, knowledge and experience needed for the effective administration of the charity. An annual skills analysis ensures the Trustees offer a suitable range of knowledge and skills to support the charity.

New Trustees are recruited openly in line with The Sea Change Trust’s Trustee Recruitment Policy and receive a full induction to the charity.

5. FINANCIAL REVIEW

The Trustees are pleased to report that in the financial year ending 31[st] December 2023 our income for the year was £286,156. This was a significant increase of £204,311 (from £81,845) due to two sizable grants, as outlined above. The demand for our services continues to grow and we have worked hard to generate funds to enable us to support our beneficiaries throughout the year and reach many more families and children in Shropshire.

a. Going concern

The Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the 12 next months and the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

b. Reserves Policy

The trustees agree to hold free reserves in the region of £35,000 - £70,000. This is to ensure that there is sufficient in reserve to support the charitable activities of the organisation for 3-6 months, as their current level. The Trustees agree to continuously monitor this as the charity grows and develops to ensure the amount held in reserves mirrors the level of activity.

Due to an increase of the charity’s funding and activities in 2023, the free reserves of the charity for the financial year ended 31st December 2023 were £64,768 (2022: £10,392).

Page 5

THE SEA CHANGE TRUST

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2023

c. Risks and uncertainties

The trustees have a proactive approach to risk management. A live risk register is kept, which is regularly updated and reviewed at the quarterly Trustees’ meetings.

TRUSTEES' RESPONSIBILITY STATEMENT

The trustees (who are also the directors of The Sea Change Trust for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 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 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.

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

………………………………………………………………..

Paul Dyson (Chair)

Date:

Page 6

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SEA CHANGE TRUST Independent examlnerfs r8port to the tn￿0$$ of Th• Sea Change Trust {'the Company.) report to the charty Iruslees on my examinatK)n of the aceounls of the Co￿anY for the year ended 31 December 2023. Responslblllties and basi$ of report As the charty's trustees of the Company land also rts directo￿ for the purwses of company I￿) you are responsible for the preparab.on of the ￿0￿￿15 in xcordance wf(h the requirements of the Companies Act 20C61'lhe 2006 Act'i. Having satisfied mysem thal the accounts of the Company are not required to be audrted under Part 16 of the 2006 Act and are elwible for independent exafflinat￿i. I report in respect of my examination of your charills aceounls as Carr￿ out under SectKin 145 of the charrt￿ Act 2011 Ilhe 2011 Acl'l. In carying out my examination I have foll(x¥ed the Direct￿ gwen by the Charty CommkSSiCm under Sect)n 145151 Ibl of the 2011 Act. Indepondènt oxamln•rfs ststgm•nl Since your charty's gross income exceeded £250,OC(J y￿1 examiner must bè a membgr of a lisleil body. I n confimi that l am qUaIrf￿ lo undertake the examination because l am a member of the Institute of Chartered Accounlanls in England and Wales. wh￿h is one of the listed bcdies. I have completed my examination. I confimi that m#tt¢rs have lo my attentK>n in COnnect￿n wrth th6 examination giving rr cause lo belthe.. accounting rxords were not kept In respect of the Ccryany as r￿U1r8d by Sectth 386 of the 2006 Act., or the accounts ¢Jo ncrt accord wilh those reco￿&., ¢x the xcounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requiremént that the accounts gNe a true and fair vie•V wh￿h 1$ not a marfer considered as part (rf an independent examin*ion". Of the xcounts have not been prepared in accordance with the methc#Js and princip￿8 of the Statement of Recommended PraCt￿e for accounting and reporting by chanties {appluble lo chanlios proparing their accounts in accoidance with the Financial Reporting Standard appI￿able in the UK and Republic of Ireland IFRS 1021). I have no coneefns and havg c(￿e across ￿ other matters in eonnectitin wrth the 9xaminat￿n lo which attention shoLsld be drawn in thi8 few1 in order to a proper understanding of the accounts to be reache(I, - LUIllLQoY)S C moe￿n-￿Il￿7M5 Bsc FCA TCA Ishfewsburyl LLP Third Floor 21 Sl Mary's Street Shrewsbury Shropshire SY11ED Date.. Page 7

THE SEA CHANGE TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
63,606
Charitable activities
General
9,475
Total
73,081
EXPENDITURE ON
Charitable activities
General
12,024
NET INCOME
61,057
Transfers between funds
10
(5,923)
Net movement in funds
55,134
RECONCILIATION OF FUNDS
Total funds brought forward
10,392
TOTAL FUNDS CARRIED FORWARD
65,526		 Restricted
funds
£
213,075
-
213,075
130,082
82,993
5,923
88,916
12,466
101,382		 2023
Total
funds
£
276,681
9,475
286,156
142,106
144,050
-
144,050
22,858
166,908		 2022
Total
funds
£
69,817
12,028
81,845
79,034
2,811
-
2,811
20,047
22,858

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

Page 8

THE SEA CHANGE TRUST

STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2023

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
7
758
CURRENT ASSETS
Debtors
8
58,130
Cash at bank
9,831
67,961
CREDITORS
Amounts falling due within one year
9
(3,193)
NET CURRENT ASSETS
64,768
TOTAL ASSETS LESS CURRENT
LIABILITIES
65,526
NET ASSETS
65,526
FUNDS
10
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
43,171
-
58,211
58,211
-
58,211
101,382
101,382		 2023
Total
funds
£
43,929
58,130
68,042
126,172
(3,193)
122,979
166,908
166,908
65,526
101,382
166,908		 2022
Total
funds
£
-
4,410
20,698
25,108
(2,250)
22,858
22,858
22,858
10,392
12,466
22,858

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 and authorised for issue on ............................................. and were signed on its behalf by:

............................................. Paul Dyson - Trustee

The notes form part of these financial statements

Page 9

THE SEA CHANGE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. 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.

Financial reporting standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

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 annual rates in order to write off each asset over its estimated useful life.

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.

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THE SEA CHANGE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

1. ACCOUNTING POLICIES - continued

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2. DONATIONS AND LEGACIES

3.

Donations
Gift aid
Grants
Grants received, included in the above, are as follows:
Other Grant Income
Local authority Grants
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets		 2023
£
5,569
437
270,675
276,681
2023
£
101,014
169,661
270,675
2023
£
7,992		 2022
£
13,347
110
56,360
69,817
2022
£
56,360
-
56,360
2022
£
-

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.

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THE SEA CHANGE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

5. STAFF COSTS

Wages and salaries
The average monthly number of employees during the year was as follows:
The Sea Change Trust - Staff
No employees received emoluments in excess of £60,000.
6.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
25,947
Charitable activities
General
10,518
Total
36,465
EXPENDITURE ON
Charitable activities
General
31,373
NET INCOME/(EXPENDITURE)
5,092
Transfers between funds
(11,776)
Net movement in funds
(6,684)
RECONCILIATION OF FUNDS
Total funds brought forward
17,076
TOTAL FUNDS CARRIED FORWARD
10,392

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THE SEA CHANGE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2023

7. TANGIBLE FIXED ASSETS

Motor
vehicles
£
COST
Additions
50,790
DEPRECIATION
Charge for year
7,619
NET BOOK VALUE
At 31 December 2023
43,171
At 31 December 2022
-
8.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Prepayments and accrued income
9.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Social security and other taxes
Accruals and deferred income
10.
MOVEMENT IN FUNDS
Net
movement
At 1.1.23
in funds
£
£
Unrestricted funds
General fund
10,392
61,057
Restricted funds
Early Years' Service
12,466
(12,382)
Subsidised Psychotherapy
-
(5,483)
Refugee Service
-
(440)
Reaching Vulnerable Children
-
55,472
Early Years' Service - Telford and
Wrekin
-
45,826
12,466
82,993
TOTAL FUNDS
22,858
144,050		 Computer
equipment
£
1,131
373
758
-
2023
£
58,130
-
58,130
2023
£
1,807
1,386
3,193
Transfers
between
funds
£
(5,923)
-
5,483
440
-
-
5,923
-		 Totals
£
51,921
7,992
43,929
-
2022
£
1,210
3,200
4,410
2022
£
-
2,250
2,250
At
31.12.23
£
65,526
84
-
-
55,472
45,826
101,382
166,908

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THE SEA CHANGE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

10. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Early Years' Service
Subsidised Psychotherapy
Refugee Service
Reaching Vulnerable Children
Early Years' Service - Telford and
Wrekin
TOTAL FUNDS		 Incoming
resources
£
73,081
1,020
-
-
99,994
112,061
213,075
286,156		 Resources
Movement
expended
in funds
£
£
(12,024)
61,057
(13,402)
(12,382)
(5,483)
(5,483)
(440)
(440)
(44,522)
55,472
(66,235)
45,826
(130,082)
82,993
(142,106)
144,050

Comparatives for movement in funds

Net Transfers
movement between At
At 1.1.22 in funds funds 31.12.22
£ £ £ £
Unrestricted funds
General fund 8,555 13,613 (11,776) 10,392
Designated - Development Fund 8,521 (8,521) - -
17,076 5,092 (11,776) 10,392
Restricted funds
Early Years' Service - 12,466 - 12,466
Subsidised Psychotherapy 1,354 (13,117) 11,763 -
Refugee Service 1,617 (1,630) 13 -
2,971 (2,281) 11,776 12,466
TOTAL FUNDS 20,047 2,811 - 22,858

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THE SEA CHANGE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

10. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 36,465 (22,852) 13,613
Designated - Development Fund - (8,521) (8,521)
36,465 (31,373) 5,092
Restricted funds
Early Years' Service 43,630 (31,164) 12,466
Subsidised Psychotherapy 1,750 (14,867) (13,117)
Refugee Service - (1,630) (1,630)
45,380 (47,661) (2,281)
TOTAL FUNDS 81,845 (79,034) 2,811

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Designated - Development Fund
Restricted funds
Early Years' Service
Subsidised Psychotherapy
Refugee Service
Reaching Vulnerable Children
Early Years' Service - Telford and
Wrekin
TOTAL FUNDS		 At 1.1.22
£
8,555
8,521
17,076
-
1,354
1,617
-
-
2,971
20,047		 Net
movement
in funds
£
74,670
(8,521)
66,149
84
(18,600)
(2,070)
55,472
45,826
80,712
146,861		 Transfers
between
funds
£
(17,699)
-
(17,699)
-
17,246
453
-
-
17,699
-		 At
31.12.23
£
65,526
-
65,526
84
-
-
55,472
45,826
101,382
166,908

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THE SEA CHANGE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

10. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated - Development Fund
Restricted funds
Early Years' Service
Subsidised Psychotherapy
Refugee Service
Reaching Vulnerable Children
Early Years' Service - Telford and
Wrekin
TOTAL FUNDS		 Incoming
resources
£
109,546
-
109,546
44,650
1,750
-
99,994
112,061
258,455
368,001		 Resources
Movement
expended
in funds
£
£
(34,876)
74,670
(8,521)
(8,521)
(43,397)
66,149
(44,566)
84
(20,350)
(18,600)
(2,070)
(2,070)
(44,522)
55,472
(66,235)
45,826
(177,743)
80,712
(221,140)
146,861

Details of the various funds held by the charity are as follows:

Unrestricted Funds

General Fund - Any monies not included in any other fund

Restricted Funds

Early Years Service - Early intervention through specialist outreach projects for babies toddlers and their parents/carers.

Subsidised Psychotherapy - Psychotherapy for those children, young people and parents/carers who aren't able to meet the cost of private support.

Refugee Service - Specialist, trauma-informed therapeutic provision for child refugees and young asylum seekers who need support with their mental and emotional health.

Reaching Vulnerable Children - The delivery of specialist provision through outreach and early intervention.

Telford and Wrekin Early Years - Early intervention through specialist outreach projects for babies, toddlers, and their parents/carers in Telford and Wrekin.

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continued...

THE SEA CHANGE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

11. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2023.

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